UHAL-BU-Haul Holding Company
Is the business good?
The checks split: earnings fully cash-backed (6.0×), but margins compressing.
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
Operating profit is falling even as sales grow, costs are outrunning the top line.
A balanced mix of margins, efficiency, and leverage. ROE 2% = margin × turnover × leverage.
Unless marked, from derived.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is UHAL-B?
U-Haul Holding Company earns 2.3% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 6.7 points below what the capital costs: growth destroys value
- Operating margin
- 7.0%
Operating margin · Rental & Leasing Services median 8.0% · 12 months to Q1 2027
- Cash conversion
- 5.99×
Cash conversion · 3.10× a year ago · operating cash flow covers the operating profit after tax
- Gross margin
- 96%
Gross margin
| Year | Operating margin |
|---|---|
| FY2021 | 21% |
| FY2022 | 29% |
| FY2023 | 25% |
| FY2024 | 17% |
| FY2025 | 12% |
| FY2026 | 7.2% |
Details›
- Gross margin12 months to Q1 2027
- 96%
- Operating margin12 months to Q1 2027
- 7.0%
- Net margin12 months to Q1 2027
- 2.3%
- Free cash flow margin
- −20%
- Revenue, trailing twelve months
- $6.09B
- Free cash flow, trailing twelve months
- −$1.23B
- Net income, trailing twelve months
- $138M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 2.3%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Rental & Leasing Services
Ranks #9 of 13 by RyuScore