| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 64.60 | 14 |
| Intrinsic value (DCF) | 29.19 | -48 |
| Graham-Dodd Method | 44.00 | -22 |
| Graham Formula | 19.59 | -65 |
U-Haul Holding Company (NYSE: UHAL) is a leading provider of do-it-yourself moving and storage solutions in the U.S. and Canada. Founded in 1945 and headquartered in Reno, Nevada, U-Haul operates through its Moving and Storage, Property and Casualty Insurance, and Life Insurance segments. The company offers truck and trailer rentals, portable moving and storage units, self-storage spaces, and moving supplies through a vast network of over 2,100 company-operated retail stores and 21,100 independent dealers. U-Haul’s rental fleet includes approximately 186,000 trucks, 128,000 trailers, and 46,000 towing devices, supported by 1,844 self-storage locations with 876,000 rentable units. The company also provides online services through uhaul.com, connecting customers with independent Moving Help providers and self-storage affiliates. U-Haul’s insurance segments offer protection packages like Safemove, Safetow, and Safestor, alongside life and health insurance products. With a strong brand presence and extensive distribution network, U-Haul is a dominant player in the moving and storage industry, catering to both household and commercial customers.
U-Haul presents a compelling investment case due to its strong market position, extensive distribution network, and diversified revenue streams across moving, storage, and insurance services. The company’s robust operating cash flow ($1.45B in FY 2024) and significant market cap (~$10.98B) underscore its financial stability. However, investors should note the high capital expenditures (-$2.99B) and substantial total debt ($6.33B), which could pressure liquidity. The lack of dividends may deter income-focused investors, but U-Haul’s beta of 1.27 suggests moderate volatility relative to the market. The company’s resilience in the DIY moving space and recurring revenue from self-storage provide defensive qualities, though competition and economic sensitivity to housing trends remain key risks.
U-Haul’s competitive advantage lies in its unparalleled scale, brand recognition, and vertically integrated business model. The company’s vast network of company-owned and independent dealers ensures widespread accessibility, while its proprietary rental fleet and self-storage locations create recurring revenue streams. U-Haul’s digital platform (uhaul.com) enhances customer convenience by integrating moving services and storage solutions. The insurance segments further differentiate U-Haul by offering bundled protection packages, adding high-margin ancillary revenue. Competitors often lack this level of integration, relying on third-party partnerships or narrower service offerings. However, U-Haul faces pricing pressure from budget rental providers and must continually invest in fleet maintenance and technology to retain its edge. Its focus on DIY movers positions it well against full-service competitors but exposes it to cyclical demand tied to residential mobility trends.