UHALB Stock Price, News & Analysis

U-Haul Holding Company (NYSE: UHAL, UHAL.B) is the parent company of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company. Through its U-Haul brand, the group focuses on what it describes as the shared use business, based on the philosophy that the division of use and specialization of ownership benefits customers and the environment.

U-Haul, founded in 1945, is repeatedly described in company materials as the No. 1 choice of do-it-yourself movers. It supports this position with a large network of rental locations across all 50 U.S. states and 10 Canadian provinces. According to recent company disclosures, this network includes more than 24,000 to 25,000 locations, reflecting the scale of its moving and storage operations.

Moving equipment and truck sharing

U-Haul operates a substantial fleet of rental equipment. The company reports approximately 203,000 trucks, 137,400 trailers and 41,700 towing devices in its fleet in recent releases. U-Haul Truck Share 24/7 enables customers to access trucks every hour of the day through self-dispatch and return options on their smartphones, supported by the company’s patented Live Verify technology. This approach aligns with the shared use concept by allowing many different customers to use the same equipment over time.

The company’s moving and storage segment generates self-moving equipment rental revenues and related product and service sales. U-Haul notes that it has increased the number of company-operated retail locations, independent dealers and box trucks in its rental fleet compared with prior periods, and that revenue per transaction has increased in both In-Town and One-Way markets, according to its reported operating results.

Self-storage operations

U-Haul is also active in self-storage. It states that it is the third largest self-storage operator in North America, with owned and managed facilities offering 1,111,000 rentable storage units and 96.5 million square feet of self-storage space in some recent disclosures. The company owns and manages self-storage properties and reports self-storage revenues from company-owned locations in its financial statements.

U-Haul provides detailed self-storage portfolio data by state and province, including unit counts, rentable square footage, occupancy rates and revenue per foot. The company also reports adding new locations with storage and net rentable square footage under development or pending, highlighting ongoing expansion of its storage footprint.

Insurance and real estate subsidiaries

Beyond moving and storage, U-Haul Holding Company includes insurance and real estate businesses. Oxford Life Insurance Company and Repwest Insurance Company contribute life insurance premiums, property and casualty insurance premiums, and related earnings from operations. Amerco Real Estate Company is part of the group’s structure, and the company reports real estate secured debt and depreciation on real estate assets as part of its moving and storage segment metrics.

In its segment reporting, the company separates moving and storage, property and casualty insurance, and life insurance operations. It discloses revenues and earnings from operations for each segment, along with consolidated results. This structure provides investors with visibility into how the moving and storage activities relate to the insurance and real estate-related operations.

Additional products and services

U-Haul reports other revenue within its moving and storage segment, including growth of its U-Box portable moving and storage container offering. The company notes that it continues to expand the breadth and reach of this program through additional warehouse space, containers and delivery equipment. U-Haul also identifies itself as the top retailer of propane in the U.S. and the largest installer of permanent trailer hitches in the automotive aftermarket industry, underscoring related product and service lines connected to its core moving business.

In addition, U-Haul mentions self-moving and self-storage product and service sales and property management fees as part of its revenue mix. These items complement the rental of moving equipment and self-storage units and are reported in the company’s consolidated revenue breakdown.

Disaster relief and community programs

U-Haul highlights a disaster relief program under which it offers 30 days of free self-storage and U-Box container usage at participating company-owned facilities to support communities affected by floods and other natural events. Recent announcements describe such programs in Oregon, southern Washington and Florida, where access to dry and secure storage is positioned as important for recovery and clean-up efforts.

The company also notes its role as an official American Red Cross Disaster Responder. This relationship is cited alongside its disaster relief storage offers, indicating an ongoing commitment to support communities during emergencies through its storage and logistics capabilities.

Migration trends and the U-Haul Growth Index

U-Haul publishes the U-Haul Growth Index, which ranks states, metropolitan areas and cities based on net gains or losses of one-way U-Haul customers. The index is compiled from well over 2.5 million annual one-way transactions across the U.S. and Canada. Company materials describe U-Haul as an authority on migration trends due to its expansive network and transaction data, which provide insight into where people are moving.

Press releases detail rankings for growth states, metros and cities, and explain that the index is based on net gains of one-way truck, trailer or U-Box container rentals. While the company notes that these rankings may not directly correlate to population or economic growth, it presents the index as a gauge of how well areas attract and retain residents.

Employment and workplace recognition

U-Haul reports that it has been recognized multiple times as a "Best for Vets" employer and has been named one of the 15 Healthiest Workplaces in America in recent communications. The company also highlights job creation associated with new facilities, such as repair shops, and notes efforts to hire locally in regions where it expands operations.

Dividend policy and capital structure

U-Haul Holding Company has disclosed a dividend policy for its Series N Non-Voting Common Stock (traded as UHAL.B). It has announced recurring quarterly cash dividends on this class of shares and notes the number of dividends issued under the policy. The company also publishes detailed debt metrics for its moving and storage segment, including real estate secured debt, unsecured debt, fleet secured debt, other secured debt, total debt, cash and cash equivalents, total assets, adjusted EBITDA and leverage ratios.

These disclosures provide context on how the company finances its moving and storage operations and self-storage development, and how debt and cash levels relate to its asset base and earnings before interest, taxes, depreciation and amortization.

Business model and philosophy

Across its disclosures, U-Haul emphasizes its shared use business model, where customers access equipment and storage as needed rather than owning these assets themselves. The company states that this model, grounded in the division of use and specialization of ownership, is beneficial for customers and the environment. Its large rental fleet, extensive network of locations, self-storage facilities and related services all operate within this framework.