Universal Logistics Holdings, Inc. (ULH) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-175.9%

-$21.65

vs $28.54 price

Levered DCF

-$45.27

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.55

Distress zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-4.01×	9.3×	7.94×	5.25×	6.88×	11.57×	14.15×	9.83×
P/B	0.74×	1.87×	1.38×	1.98×	1.68×	2.32×	2.59×	2.45×
P/S	0.26×	0.65×	0.44×	0.44×	0.29×	0.4×	0.35×	0.35×
EV / EBITDA	16×	6.1×	5.32×	4.15×	5.8×	7.25×	6.34×	6.11×
Gross margin	10.5%	17.1%	15.4%	17.5%	12.3%	11.5%	17.4%	12.5%
Operating margin	3.9%	11.0%	8.8%	11.9%	5.9%	5.8%	4.3%	5.7%
Net margin	-6.4%	7.0%	5.6%	8.4%	4.2%	3.5%	2.5%	3.6%
Current ratio	1.2×	1.35×	1.4×	1.6×	1.35×	1.18×	1.09×	1.63×
Debt / equity	1.8×	1.3×	0.89×	1.08×	1.78×	2.34×	2.7×	1.91×
Interest coverage	1.23×	5.89×	6.01×	14.76×	8.84×	5.49×	3.84×	5.74×
Dividend yield	2.8%	0.9%	1.5%	1.6%	2.2%	1.0%	2.8%	2.1%
Payout ratio	-11.1%	8.5%	11.9%	8.3%	15.3%	11.9%	40.0%	20.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-18.5%	20.1%	17.5%	37.7%	24.4%	20.1%	18.3%	24.9%
Return on invested capital	3.8%	9.5%	9.9%	17.8%	8.5%	6.9%	5.9%	8.7%
Return on assets	-5.6%	7.3%	7.4%	14.0%	6.5%	4.5%	3.8%	6.2%
Free cash flow yield	-10.3%	-11.5%	-4.1%	10.9%	8.8%	1.6%	9.1%	5.5%
Earnings yield	-25.0%	10.7%	12.6%	19.1%	14.5%	8.7%	7.1%	10.2%
Enterprise value	$1.3B	$2B	$1.2B	$1.3B	$1B	$1.1B	$1.1B	$908.2M
Net debt / EBITDA	11.24×	2.46×	2.05×	1.37×	2.95×	3.61×	3.21×	2.65×
Cash conversion cycle (days)	59	58	52	52	53	48	31	30