ULHUniversal Logistics Holdings, Inc.
Is it safe?
Nothing alarming, nothing pristine: comfortable debt (BBB) and big price swings.
Investment-grade balance sheet. A rule of thumb on leverage, not a credit rating.
Large price swings, high volatility. Worst drawdown -76% · now 30% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can ULH take a bad year?
Universal Logistics Holdings, Inc. carries $672M of net debt at 7.20× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q2 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 7.20×
Net debt / EBITDA · 3.03× a year ago · the load is going up
- Interest cover
- none
Interest cover · no operating profit to pay the interest bill from
- Annualised volatility
- 75%
Annualised volatility · three times the market's own swing
Details›
- Total debtQ2 2026
- $693M
- Cash and short-term investments
- $20M
- Net debt
- $672M
- EBITDA, trailing twelve months
- $93M
- Operating profit, trailing twelve months
- −$50M
- Debt / equity
- 1.23×
- Total debt / EBITDA
- 7.42×
- Annualised volatilitytwo years of daily moves
- 75%
- Worst drawdown on file
- −76%
- Below its 52-week high
- 30%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.