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U-Haul Holding (UHAL) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Nov 4, 2026 · U-Haul Holding (UHAL) Q2 FY27 earnings results →

Q2 FY27 Revenue up 3% year over year to $1.8B · 8¢ of every $1 of revenue kept as net profit · operating margin 15.0%

U-Haul Holding made $1.8B in Q2 FY27 (+3% Y/Y). Operating margin 15.0%, net earnings $137M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$1.8B
Year over year+3%
Operating margin15.0%
Net earnings$137M
Operating cash flow$379M

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U-Haul Holding Q2 FY27 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
U-Haul Holding Q2 FY27 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $1.8B in Q2 FY27, up 3% year over year and up 5% from the previous quarter.

Operating profit was $0.27B, a 15.0% margin (up 2.3 points year over year). Of the extra revenue versus Q2 FY26, 90% reached operating profit, above the 13% margin then. Total costs grew 0% against revenue growth of 3%. Net earnings were $0.14B, up 29% year over year. The effective tax rate was 21.4%.

Operating cash flow was $0.38B (down 31% year over year), 277% of net earnings. Non-cash charges added back $0.30B of depreciation. Working capital and other items used $0.06B. Capital expenditures of $0.72B exceeded it, leaving free cash flow of −$0.34B.

Quarterly history

U-Haul Holding revenue by quarterU-Haul Holding revenue by quarter$1.2BQ4 FY25$1.6BQ1 FY26$1.7BQ2 FY26$1.4BQ3 FY26$1.3BQ4 FY26$1.7BQ1 FY27$1.8BQ2 FY27
U-Haul Holding net earnings by quarterU-Haul Holding net earnings by quarter−$82.3MQ4 FY25$142MQ1 FY26$106MQ2 FY26$37.0MQ3 FY26−$128MQ4 FY26$123MQ1 FY27$137MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QNov 4, 2026$1.8B+3%15.0%$137M$379M
Q1 FY2710-QAug 5, 2026$1.7B+3%14.9%$123M$630M
Q4 FY2610-KMay 27, 2026$1.3B+3%-6.0%−$128M$404M
Q3 FY2610-QFeb 4, 2026$1.4B+2%2.4%$37.0M$241M
Q2 FY2610-QNov 5, 2025$1.7B+4%12.7%$106M$552M
Q1 FY2610-QAug 6, 2025$1.6B+5%15.8%$142M$598M
Q4 FY2510-KMay 29, 2025$1.2B+12%-3.5%−$82.3M$199M

Charts

U-Haul Holding: revenue growth, year over year and quarter over quarterU-Haul Holding: revenue growth, year over year and quarter over quarterY/YQ/Q+12%Q4 FY25+5%+32%Q1 FY26+4%+5%Q2 FY26+2%-18%Q3 FY26+3%-10%Q4 FY26+3%+32%Q1 FY27+3%+5%Q2 FY27
Latest (Q2 FY27): Y/Y +3%, Q/Q +5%.
U-Haul Holding: where the cash came from (+) and went (−), TTM to Q2 FY27U-Haul Holding: where the cash came from (+) and went (−), TTM to Q2 FY27Capital spending−$2.8BOperating cash flow$1.7BAsset & business sales$673MNet borrowing (+) / repaid (−)$562MOther financing−$467MOther investing$281MCash drawn (+) / kept (−)$83.0MNot reconciled−$1.5M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
U-Haul Holding: profit against cash, quarter by quarterU-Haul Holding: profit against cash, quarter by quarterNet incomeOperating cash flow$67.2M$272MQ3 FY25−$82.3M$199MQ4 FY25$142M$598MQ1 FY26$106M$552MQ2 FY26$37.0M$241MQ3 FY26−$128M$404MQ4 FY26$123M$630MQ1 FY27$137M$379MQ2 FY27
Latest (Q2 FY27): Net income $137M, Operating cash flow $379M.
U-Haul Holding: long-term debt falling due (FY26)U-Haul Holding: long-term debt falling due (FY26)$904M2027$1.1B2028$864M2029$1.1B2030$922M2031$3.2BLater
Cash $1.1B, short-term investments —, long-term debt $8.1B at 2026-03-31.
U-Haul Holding in its industry: growth against margin (7 companies, SIC 7510)U-Haul Holding in its industry: growth against margin (7 companies, SIC 7510)revenue growth, year over year →↑ operating marginmedian +3%median 3%CARRHTZHertz CorpZCARVAIUHAL (+3%, 15%)
Services-Auto Rental & Leasing (No Drivers); dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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U-Haul Holding against its Services-Auto Rental & Leasing (No Drivers) peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +3% against the peers' median +3%. Operating margin: 15.0% against the peers' median 3.3%.

CompanyQuarterRevenueY/YOp. margin
UHAL U-Haul HoldingQ2 FY27$1.8B+3%15.0%
CAR Avis Budget GroupQ3 2026$3.4B-2%9.0%
R Ryder SystemQ3 2026$3.4B+8%6.6%
HTZ Hertz Global HoldingsQ3 2026$2.6B+6%3.3%
HertzQ2 2026$2.4B+10%3.0%
ZCAR Zoomcar HoldingsQ1 FY27$2.4M+2%-37.4%
VAI Valor EnergyQ1 FY27$361K-16%-174.8%

Source: U-Haul Holding 10-Q on SEC EDGAR · CIK 4457 · Services-Auto Rental & Leasing (No Drivers)

Guidance and outlook

U-Haul Holding: what its forward-looking statements are about (10-Q filed 2026-11-04)U-Haul Holding: what its forward-looking statements are about (10-Q filed 2026-11-04)Other3Financing3Demand2Capital spending2Deals2Supply chain1Buybacks & dividends1Costs1
15 statements; tone +0.20 (−1 all cautious, +1 all confident); 2 hedged.
U-Haul Holding: outlook statements against the filing beforeU-Haul Holding: outlook statements against the filing beforeConfident3

13F: who owns UHAL and who is buying

Largest holders of UHAL (13F)Largest holders of UHAL (13F)Vanguard Group$43.7MDimensional Fund Advisors LP$43.5MTwo Sigma Investments, LP$38.2MD. E. Shaw$32.1MBlackRock$31.3MVanguard Capital Management LLC$27.8MMillennium Management LLC$27.2MScharf Investments, LLC$27.0MVanguard Portfolio Management LLC$23.6MJacobs Levy Equity Management$23.0M
Funds' net buying of UHAL by quarter (13F)Funds' net buying of UHAL by quarter (13F)$2.3M2024-09$8.8M2024-12−$21.7M2025-03$42.5M2025-06−$33.3M2025-09−$11.1M2025-12$11.4M2026-03$69.7M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on UHAL

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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中文版：U-Haul Holding（UHAL）财报

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