UHaul Holding Company delivered a strong QQ1 2026 across top-line growth and operating profitability, underpinned by a robust demand environment for moving and storage services. Revenue reached $1.630B, up 38.3% year-over-year, with gross profit of $282.6M and an EBITDA of $552.6M, resulting in an EBITDA margin of 33.9% and an operating margin of 17.0%. Net income stood at $133.5M, translating to an 8.19% net margin and an EPS of $0.681. Cash flow from operations was solid at $598.4M, though investing activity remained negative as the company continued to deploy capital into fleet-related assets and platform investments, contributing to a net cash decrease of $111.6M for the period.
Key Performance Indicators
Revenue
Increasing
1.63B
QoQ: 17.42% | YoY: 38.27%
Gross Profit
Increasing
282.65M
17.34% margin
QoQ: -76.29% | YoY: 474.81%
Operating Income
Increasing
277.73M
QoQ: 84.25% | YoY: 531.78%
Net Income
Increasing
133.51M
QoQ: 128.84% | YoY: 1 478.21%
EPS
Increasing
0.68
QoQ: 126.97% | YoY: 1 478.34%
Revenue Trend
Margin Analysis
Financial Highlights
Performance snapshot and trend interpretation (QQ1 2026 vs QQ1 2025):
- Revenue: $1,630,470,000; YoY +38.3%; QoQ +17.4%; Gross Profit: $282,647,000; Gross Margin 17.33%; YoY gross profit up 474.8% (significant base effects earlier year); Operating Income: $277,730,000; Margin 17.03%; YoY +531.8%; Net Income: $133,507,000; Margin 8.19%; YoY +1,478.2%; EPS: $0.6809; YoY +1,478.3%.
- EBITDA: $552,578,000; EBITDA Margin 33.89%.
- Balance sheet health: Cash & short-term investments of $3.398B; Total debt $7.295B; Net debt $6.418B; Equity $7.661B; Current ratio Γ’β°Λ 1.66x; Quick ratio Γ’β°Λ 3.85x.
- Cash flow: Net cash provided by operating activities $598.4M; Net change in cash -$111.6M; Free cash flow (as reported) $598.4M (note: capex not disclosed in the data).
- Leverage: Net debt to EBITDA ~11.6x and debt-to-assets ~34.9%; interest coverage ~6.7x, indicating strong EBITDA generation but elevated leverage given the asset-heavy model.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
1.63B
38.27%
17.42%
Gross Profit
282.65M
474.81%
-76.29%
Operating Income
277.73M
531.78%
84.25%
Net Income
133.51M
1 478.21%
128.84%
EPS
0.68
1 478.34%
126.97%
Key Financial Ratios
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UHaul Holding Company (UHAL-B) QQ2 2025 Financial Analysis: Solid top-line growth with margin expansion but ongoing capital intensity and leverage con...