Company Overview: U-Haul Holding Company

Business Focus

U-Haul Holding Company is North America’s largest “do-it-yourself” moving and storage operator, primarily through its subsidiary U-Haul International, Inc.. The company provides products and services to facilitate household and commercial moves, emphasizing affordability and convenience.

Core Operations

• Moving Equipment Rentals:

  • Rental fleet includes approximately 192,100 trucks, 137,500 trailers, and 39,700 towing devices as of March 31, 2025.
  • Equipment is designed for ease of load and safety, including proprietary features like “Lowest Deck” and “Mom’s Attic”.
  • Equipment and trucks are manufactured at U-Haul’s facilities and engineered for durability and fuel efficiency.
  • The fleet is rotated through acquisitions, disposals, and leases, with significant reliance on third-party manufacturers (mainly Ford and General Motors).

• Customer Base:

  • Serves primarily “self-move” households, including families, college students, vacationers, DIY home remodelers, and sports enthusiasts.
  • As of May 28, 2025:
    • ~19.6 million shares of common stock outstanding.
    • ~3,600 registered stockholders for Voting Stock.
    • ~4,600 registered stockholders for Non-Voting Stock.
  • Over 21,600 independent U-Haul dealers, with nearly half of rental revenue in fiscal 2025 coming through this dealer network.

• Self-Storage Business:

  • Operates 2,046 self-storage locations across the US and Canada.
  • Manages over 1.079 million rentable units, totaling 93.7 million sq. ft. of storage space.
  • Offers units from 6 sq. ft. to over 1,000 sq. ft., with features like security cameras, electronic access, climate control, and alarmed units.
  • Added about 6.5 million sq. ft. of additional storage space in fiscal 2025.

• Supporting Products and Services:

  • Sells moving supplies (boxes, tape, packing materials) tailored for DIY movers.
  • Provides towing solutions and accessories (hitches, wires, safety chains).
  • Has North America’s largest propane refilling network with nearly 1,200 locations.
  • Features an integrated web platform (uhaul.com) and mobile app for reservations, tracking, and service integration.

• Online and Marketplace Platforms:

  • Moving Help: Connects DIY movers with independent service providers for packing, loading, unloading, cleaning.
  • Storage Affiliates Program: Allows independent storage operators to access U-Haul’s reservation network, compete more efficiently, and offer broader services.

Financial Highlights (Fiscal Year Ended March 31, 2025):

• Total Revenue: approximately $5.83 billion (up from ~$5.63 billion in 2024)
• Net Earnings (to stockholders): approximately $367.1 million (down from ~$628.7 million in 2024)
• Segment Breakdown:
  • Moving and Storage: 94.2% of consolidated revenue (~$5.49 billion)
  • Property and Casualty Insurance: 2.1% (~$125 million)
  • Life Insurance: 3.7% (~$222 million)

Employees

• Total employment across the company:
  • Approximately 33,000 employees in the United States.
  • Around 2,100 employees in Canada.
  • More than 99% of employees work within the Moving and Storage segment.

Key Assets

• Physical assets include:
  • The rental fleet (trucks, trailers, towing devices)
  • Nearly 2,400 retail locations
  • Manufacturing and assembly facilities
  • Repair facilities
  • Significant real estate holdings for self-storage (over 68 million sq. ft. of rentable space).

Additional Business Segments

• Property and Casualty Insurance:
  • Provides claims adjustment, underwriting, and protection packages (Safemove, Safetow, Safestor, Safehaul).
  • Insurance subsidiaries include Repwest Insurance and ARCOA Risk Retention Group.
• Life Insurance:
  • Focuses on long-term capital growth in the senior market, offering life, Medicare supplement, and annuity products.
  • As of December 31, 2024:
    • $217.6 million in segment stockholders' equity.
    • Revenue of $221.9 million.

Other Notable Points

• The company emphasizes sustainability via equipment sharing, recycling, and reducing greenhouse gases.
• Financial operations involve significant leverage:
  • Approximately $7.2 billion in total debt as of March 31, 2025.
  • Has access to substantial liquidity with $988.8 million in cash and cash equivalents at fiscal year-end.
• The company’s stock is traded on NYSE under symbols:
  • UHAL (Voting Stock)
  • UHAL.B (Non-Voting Stock)

Summary:
U-Haul Holding Company is a dominant provider of DIY moving equipment and self-storage solutions in North America, with a fleet of over 192,000 trucks and 1,079,000 storage units. It operates through a network of managed retail stores and independent dealers, supporting millions of customers annually. The company generated $5.83 billion in revenue in fiscal 2025, with over $367 million net earnings attributable to shareholders. It employs approximately 35,000 people across its segments and maintains extensive physical assets, including manufacturing facilities, retail locations, and a large real estate portfolio.