UHAL NYSE Russell 1000 Earnings call
U-Haul (UHAL) · Q4 2026 results and valuation
Share price: $56.67 · 2026-11-11
Results Q4 2026 vs Q2 2026 · previous quarter · published 28 May 2026 and 6 Nov 2025
Management sounded restrained, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
—
No financial figures for this pair
2 · How management spoke
Restrained
Less upbeat than 75% of company calls
Answers to analysts: restrained, in line with the script.
Similar to last call.
3 · What stood out
Figure
Net equipment purchases totaled $1.381 billion this quarter.
Valuation
Is U-Haul undervalued?
Reverse DCF on net income from the last full fiscal year (no meaningful free cash flow: a bank, insurer or a year of negative cash flow) (2026-03-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At 1.0% growth a year (3-year revenue growth), the model's fair value is $5.21 a share — the stock trades 987% above it. Today's price assumes 34.0% growth a year.
Current price
$56.67
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+34.0% for 10 yrs
Fair value / share
$5.21
Buy below
$3.91
Price vs fair value
Overvalued >200%
Price vs buy-below price
Overvalued >200%
Read between the lines
-
Figure
Capital expenditures for new rental equipment in fiscal 2026 were $2.08 billion, which represents a significant investment in equipment.
Source quote
“Capital expenditures for new rental equipment in fiscal 2026 were $2.08 billion.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q4 2026. Ring: Q2 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“Earnings before interest, taxes, and depreciation, we refer to as adjusted EBITDA, and our moving and storage segment increased $6 million for the quarter to $223 million and for the...”
“For box trucks, the upcoming year of no planned growth will lead to a natural decline in depreciation over the course of the year.”
“Moving and storage Operating expenses increased $17 million for the fourth quarter compared to the fourth quarter of last year our adjusted EBITDA margin saw a slight improvement with our...”
Topics
Most discussed now
- New U-Haul thinks that there will be a certain amount certainly on the fleet side, a certain amount of deleveraging taking...
- New The actual mile decreases are getting much smaller.
- U-Haul began to materially increase the depreciation rate on its cargo van fleet in the first quarter of fiscal 2026...
- What U-Haul has seen through the April and the first couple weeks of May has been growth fairly similar to...
Faded since Q2 2026
- Dropped This pounding is likely to continue for some time as OEM manufacturers continue to bring current pricing in line, resale...
- Fading This should help us better balance truck and trailer inventories by increasing demand.
- Fading Cargo vans that U-Haul purchased over the last 2 years that are now being sold came into the fleet with...
- Fading For better or worse, U-Haul actually are a little bit overfleeted right now, which is why Jason reports it...
Latest announcements
Official filings, newest first.
- Shareholder vote results · SEC 8-K
- Results of operations · SEC 8-K
- Results of operations · SEC 8-K
- Results of operations · SEC 8-K
- Other events · SEC 8-K
- Results of operations · SEC 8-K
- Shareholder vote results · SEC 8-K
- Results of operations · SEC 8-K