Universal Logistics Holdings, Inc. (ULH) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.13	$0.16	+23.1%	—	$379.3M	—
Q1 26	$0.09	-$0.13	-244.4%	—	$367.6M	—
Q4 25	-$0.05	$0.14	+380.0%	—	$385.4M	—
Q3 25	$0.18	-$0.07	-138.9%	—	$396.8M	—
Q2 25	$0.34	$0.32	-5.9%	—	$393.8M	—
Q1 25	$0.48	$0.23	-52.1%	—	$382.4M	—
Q4 24	$0.93	$0.77	-17.2%	—	$465.1M	—
Q3 24	$1.18	$1.25	+5.9%	—	$426.8M	—
Q2 24	$1.14	$1.17	+2.6%	—	$462.2M	—
Q1 24	$0.73	$1.99	+172.6%	—	$491.9M	—
Q4 23	$0.71	$0.81	+14.1%	—	$390.9M	—
Q3 23	$1	$0.88	-12.0%	—	$421.3M	—
Q2 23	$1.01	$0.9	-10.9%	—	$412.6M	—
Q1 23	$0.93	$0.95	+2.2%	—	$437.4M	—
Q4 22	$1.36	$1.27	-6.6%	—	$458.7M	—
Q3 22	$1.34	$1.84	+37.3%	—	$505.7M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$3.79	—	—	$1.6B	—
FY24	—	$4.94	—	—	$1.8B	—
FY23	—	$3.53	—	—	$1.7B	—
FY22	—	$6.37	—	—	$2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.1B	$1.2B	$1.5B	$1.5B	$1.4B	$1.8B	$2B	$1.7B	$1.8B	$1.6B
YoY change	-4.96%	+13.4%	+20.1%	+3.44%	-8%	+25.9%	+15.1%	-17.5%	+11.1%	-15.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.1B	1.2B	1.5B	1.5B	1.4B	1.8B	2B	1.7B	1.8B	1.6B
Cost of revenue	946.7M	1.1B	1.3B	1.3B	1.2B	1.5B	1.7B	1.4B	1.5B	1.4B
Gross profit	126M	131.8M	183.2M	188.5M	159.5M	217.7M	352.4M	255.8M	315.9M	161.4M
Gross margin	11.7%	10.8%	12.5%	12.5%	11.5%	12.4%	17.5%	15.4%	17.1%	10.4%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	47.1M	73.4M	62M	91.9M	52.5M	80.9M	71.7M	79M	81.8M	84.3M
Operating expenses	79.4M	106.6M	99.4M	123.1M	79.2M	114.8M	112M	110.4M	109M	101.4M
Operating income	46.6M	25.2M	83.8M	65.4M	80.4M	103M	240.4M	145.4M	206.8M	60.1M
Operating margin	4.34%	2.07%	5.73%	4.32%	5.78%	5.88%	11.9%	8.75%	11.2%	3.85%
Non-operating income, net	934K	1.4M	188K	1.8M	-1.9M	7.2M	1.1M	1.6M	-2.9M	-122.3M
Pretax income	39.4M	17.1M	69.4M	50.2M	63.9M	98.6M	225.4M	124.3M	173.7M	-100M
Income tax	15.2M	-11M	17.2M	12.6M	15.8M	24.8M	56.8M	31.4M	43.8M	-139K
Net income	24.2M	28.2M	52.2M	37.6M	48.1M	73.7M	168.6M	92.9M	129.9M	-99.9M
Net margin	2.26%	2.31%	3.57%	2.49%	3.46%	4.21%	8.37%	5.59%	7.04%	-6.41%
EBITDA	84.4M	73.7M	138.5M	142M	152.7M	177.8M	318.4M	225.5M	336.1M	219.7M
EPS	0.85	0.99	1.84	1.34	1.78	2.74	6.37	3.53	4.94	-3.79
Diluted EPS	0.85	0.99	1.84	1.34	1.78	2.74	6.37	3.53	4.93	-3.79

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	421.3M	390.9M	491.9M	462.2M	426.8M	465.1M	382.4M	393.8M	396.8M	385.4M	367.6M	379.3M
Cost of revenue	355.7M	330.4M	389.5M	383.6M	354.8M	402.2M	342.3M	347.9M	363.4M	343.4M	336.4M	337.5M
Gross profit	65.6M	60.6M	102.4M	78.6M	72.1M	62.9M	40.1M	45.9M	33.4M	42M	31.2M	41.8M
Gross margin	15.6%	15.5%	20.8%	17%	16.9%	13.5%	10.5%	11.7%	8.42%	10.9%	8.48%	11%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	20.5M	19.2M	20.7M	22.6M	18.7M	19.8M	20.1M	21.6M	22.1M	20.4M	22.2M	33.5M
Operating expenses	28.8M	26.5M	27.3M	31.5M	25.7M	24.6M	24.4M	26M	26.4M	24.5M	26.4M	38M
Operating income	36.8M	34.1M	75.1M	47.1M	46.4M	38.3M	15.7M	19.9M	7M	17.5M	4.8M	3.8M
Operating margin	8.73%	8.72%	15.3%	10.2%	10.9%	8.23%	4.1%	5.05%	1.76%	4.54%	1.3%	0.99%
Non-operating income, net	588K	723K	1.1M	898K	-3.7M	-1.2M	578K	149K	-123.6M	-42.6M	295K	41.4M
Pretax income	30.9M	28.7M	70.1M	41.1M	35.2M	27.3M	8M	11.2M	-126.6M	-35.8M	-4.6M	34.6M
Income tax	7.8M	7.2M	17.7M	10.4M	8.7M	7.1M	2M	2.9M	-8.6M	3.6M	-1.1M	8.4M
Net income	23M	21.4M	52.5M	30.7M	26.5M	20.2M	6M	8.3M	-117.9M	-39.4M	-3.5M	26.2M
Net margin	5.47%	5.48%	10.7%	6.65%	6.22%	4.34%	1.57%	2.11%	-29.7%	-10.2%	-0.96%	6.9%
EBITDA	56.8M	54.8M	97.1M	85.7M	77.8M	75.5M	54.7M	59M	46.2M	59.9M	43.3M	39.5M
EPS	0.88	0.81	1.99	1.17	1.01	0.77	0.23	0.32	-4.48	0.14	-0.13	0.99
Diluted EPS	0.88	0.81	1.99	1.17	1.01	0.77	0.23	0.32	-4.48	0.14	-0.13	0.99

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	464.5M	675.1M	513.5M	532.2M	555.9M	507.7M	885.1M	736.5M	1.2B	399.9M	458.8M
Enterprise value	709.7M	906.3M	898.9M	1.1B	1.1B	1B	1.3B	1.2B	2B	1.3B	1.3B
Shares outstanding	28.4M	28.4M	28.4M	28.1M	27M	26.9M	26.5M	26.3M	26.3M	26.3M	26.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	19.2	24	9.84	14.2	11.5	6.89	5.25	7.93	9.31	—	6.63
P/S	0.43	0.55	0.35	0.35	0.4	0.29	0.44	0.44	0.65	0.26	0.29
P/B	3.14	4	2.45	2.59	2.32	1.68	1.98	1.38	1.87	0.74	0.78
EV/EBITDA	8.41	12.3	6.49	7.53	7.21	5.76	4.12	5.27	6	6.07	7.15
EV/Sales	0.66	0.74	0.61	0.71	0.79	0.58	0.65	0.72	1.09	0.86	0.82
Earnings yield	5.22%	4.17%	10.2%	7.06%	8.66%	14.5%	19.1%	12.6%	10.7%	—	15.1%
FCF yield	-6.18%	3.03%	5.51%	9.07%	1.55%	8.75%	10.9%	-4.12%	-11.5%	-10.3%	7.02%
PEG	—	—	—	—	—	—	—	—	—	—	0.03

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	11.7%	10.8%	12.5%	12.5%	11.5%	12.4%	17.5%	15.4%	17.1%	10.4%	11%
Operating margin	4.34%	2.07%	5.73%	4.32%	5.78%	5.88%	11.9%	8.75%	11.2%	3.85%	0.99%
Net margin	2.26%	2.31%	3.57%	2.49%	3.46%	4.21%	8.37%	5.59%	7.04%	-6.41%	-5.99%
ROE	16.4%	16.7%	24.9%	18.3%	20.1%	24.4%	37.7%	17.5%	20.1%	-18.5%	-15.1%
ROA	4.25%	4.61%	6.19%	3.78%	4.53%	6.48%	14%	7.41%	7.27%	-5.64%	1.15%
ROIC	7.29%	6.3%	10.6%	6.6%	7.72%	9.41%	20.6%	11%	10.6%	4.07%	2.4%
Return on tangible assets	6.98%	7.05%	16%	8.82%	9.31%	11.9%	23.6%	11.8%	12.1%	-7.43%	-10.6%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.44	1.15	1.24	1.09	1.18	1.35	1.6	1.39	1.35	1.2	1.2
Quick ratio	1.38	1.12	1.21	1.06	1.18	1.35	1.6	1.39	1.35	1.2	1.2
Debt / equity	1.77	1.47	1.91	2.7	2.34	1.78	1.08	0.89	1.3	1.8	1.49
Debt / assets	0.46	0.41	0.47	0.56	0.53	0.47	0.4	0.38	0.47	0.55	0.5
Net debt / EBITDA	2.91	3.14	2.78	3.78	3.57	2.9	1.34	2.01	2.4	4.25	4.33
Interest coverage	5.77	2.8	5.73	3.94	5.37	9.47	14.8	6.13	6.04	-1.04	-1.56
Effective tax rate	38.5%	0%	24.8%	25.1%	24.7%	25.2%	25.2%	25.3%	25.2%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	37.8	42.8	51.5	53.9	51.5	65	76.1	63.2	70.2	59.2	58
EPS (basic)	0.85	0.99	1.84	1.34	1.78	2.74	6.37	3.53	4.94	-3.79	-3.79
EPS (diluted)	0.85	0.99	1.84	1.34	1.78	2.74	6.37	3.53	4.93	-3.79	-3.47
Book value per share	5.2	5.94	7.37	7.31	8.87	11.2	16.9	20.2	24.6	20.5	21.3
FCF per share	-1.01	0.72	1	1.72	0.32	1.65	3.64	-1.15	-5.29	-1.56	1.39
Cash per share	0.57	0.59	0.53	0.61	0.57	0.82	2.16	0.89	1.18	1.41	0.77
Capex per share	0.09	0.04	0.14	0.4	0.16	0.21	0.54	0.13	0.17	8.51	4.18

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.23%	0.1%	0.27%	0.74%	0.3%	0.32%	0.71%	0.21%	0.24%	14.4%	7.21%
Capex / operating cash flow	3.09%	1.61%	4.31%	8.58%	4.46%	6.46%	6.95%	1.67%	4.11%	122.5%	75%
Payout ratio	32.8%	28.3%	20.9%	40%	11.9%	15.3%	8.27%	11.9%	8.51%	-11.1%	18.2%
Dividend yield	1.71%	1.18%	2.13%	2.83%	1.03%	2.23%	1.58%	1.5%	0.91%	2.76%	2.4%

Yield

2.4%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.105

ex-dividend Sep 1, 2026

Payout ratio

18%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 1, 2026	$0.105
Jun 1, 2026	$0.105
Mar 23, 2026	$0.105
Dec 1, 2025	$0.105
Aug 29, 2025	$0.105

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$421.3M	$390.9M	$491.9M	$462.2M	$426.8M	$465.1M	$382.4M	$393.8M	$396.8M	$385.4M	$367.6M	$379.3M
YoY change	-16.7%	-14.8%	+12.5%	+12%	+1.33%	+19%	-22.3%	-14.8%	-7.04%	-17.1%	-3.87%	-3.67%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	16.1M	16.8M	15.1M	17.1M	15.3M	22M	57.2M	23.3M	30.9M	37.2M
Receivables	144.7M	171M	216M	210.5M	259.2M	341.4M	350.7M	287.9M	293.6M	261.3M
Inventory	8.6M	5.3M	6.8M	7.2M	—	—	—	—	—	—
Total current assets	207.5M	228.7M	275.3M	271.8M	321.5M	420.7M	459.7M	361.1M	409.8M	382.8M
Property, plant & equipment	32.2M	30.5M	36.1M	100.6M	117.1M	111.4M	85.2M	191.1M	189.4M	382.7M
Goodwill & intangibles	223.3M	211.5M	517.9M	569.1M	545.9M	518.2M	489.4M	464.1M	715.4M	428.5M
Total assets	570.5M	610.6M	843.1M	995.4M	1.1B	1.1B	1.2B	1.3B	1.8B	1.8B
Accounts payable	65.9M	84.4M	92M	91.9M	97.9M	117.8M	87.1M	64.1M	60M	61.1M
Short-term debt	34.5M	40.9M	51.9M	85.8M	81.6M	85.7M	93.5M	100.7M	117.4M	144.2M
Total current liabilities	144.5M	199.1M	221.2M	250.4M	272.8M	312.7M	286.9M	260.4M	304.6M	318.1M
Long-term debt	226.8M	207.1M	348.5M	468.4M	478.5M	452.2M	390.8M	374.9M	721.1M	827.1M
Total liabilities	422.7M	441.8M	633.8M	790.2M	823.5M	835.3M	756.7M	721.3M	1.1B	1.2B
Shareholders' equity	147.7M	168.8M	209.3M	205.2M	239.6M	302.2M	446.9M	532.2M	647M	540.4M
Total debt	261.3M	248M	400.5M	554.2M	560.1M	537.9M	484.3M	475.5M	838.4M	971.4M
Net debt	259.5M	246.3M	394.7M	546.5M	551.4M	524M	437.1M	463M	819.1M	944.5M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	27.3M	23.3M	22.9M	19.1M	23.5M	30.9M	32.6M	34.2M	37.2M	37.2M	17.9M	20.3M
Receivables	307.5M	287.9M	280.6M	288.1M	300.1M	293.6M	259.2M	254.8M	277.6M	261.3M	257.4M	267.4M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	389.2M	361.1M	367.1M	382.8M	405.7M	409.8M	389.1M	393.4M	429M	382.8M	359.2M	377.7M
Property, plant & equipment	626.5M	191.1M	696.3M	735.6M	767M	189.4M	860.8M	926.7M	937.6M	382.7M	972.6M	921.1M
Goodwill & intangibles	470.3M	464.1M	454.5M	444.9M	444.5M	715.4M	699.7M	688.4M	520.4M	428.5M	422.8M	417.1M
Total assets	1.3B	1.3B	1.4B	1.5B	1.6B	1.8B	1.8B	1.9B	1.8B	1.8B	1.7B	1.7B
Accounts payable	83.9M	64.1M	73.9M	74M	78.4M	60M	77.9M	74.8M	67.6M	61.1M	52M	69.4M
Short-term debt	99M	100.7M	96.8M	109.7M	113.9M	117.4M	122.1M	122.6M	129.7M	144.2M	146.5M	124.9M
Total current liabilities	286.9M	260.4M	300.6M	303.6M	297.4M	304.6M	328.8M	308M	324.3M	318.1M	317.6M	316M
Long-term debt	387.2M	374.9M	406.3M	457.7M	518.3M	721.1M	716.8M	789.1M	804.8M	827.1M	784.1M	713.6M
Total liabilities	749.1M	721.3M	800.7M	863.2M	923.9M	1.1B	1.2B	1.2B	1.2B	1.2B	1.2B	1.1B
Shareholders' equity	510.2M	532.2M	583.9M	608.9M	631M	647M	646.4M	653.7M	578.1M	540.4M	538.6M	561M
Total debt	486.2M	475.5M	503.1M	567.3M	632.3M	838.4M	838.9M	911.7M	934.5M	971.4M	930.7M	838.5M
Net debt	469.4M	463M	492M	559.8M	620.4M	819.1M	818.3M	887.4M	907.1M	944.5M	912.7M	818.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	24.2M	28.2M	52.2M	37.6M	48.1M	73.7M	168.6M	92.9M	129.9M	-99.9M
Depreciation & amortization	36.7M	47M	54.4M	74.8M	74.1M	67.5M	76.7M	77M	124.2M	146.2M
Stock-based compensation	571K	414K	413K	73K	195K	162K	222K	262K	779K	457K
Change in working capital	10.1M	18.3M	-23.8M	8.9M	-27.1M	-53.4M	-50.9M	30.1M	-177.1M	40M
Operating cash flow	78.5M	75.2M	90.5M	129.9M	93.9M	86.7M	205.4M	211M	108.2M	183M
Capital expenditure	2.4M	1.2M	3.9M	11.2M	4.2M	5.6M	14.3M	3.5M	4.4M	-224.2M
Investing cash flow	3.3M	2.1M	-162.6M	-63.3M	4.2M	5.6M	13.4M	3.8M	-211.3M	-221.2M
Dividends paid	-8M	-8M	-10.9M	-15M	-5.7M	-11.3M	-13.9M	-11M	-11.1M	-11.1M
Share repurchases	-26K	-1.5M	-930K	-24.8M	-5.1M	0	-14.3M	-134K	-107K	-85K
Financing cash flow	14.1M	-23.2M	138.8M	16.7M	-404.6M	-32.6M	-241.5M	-8.6M	365M	26.1M
Net change in cash	95.9M	54.1M	66.7M	83.4M	-306.5M	59.7M	-22.7M	206.2M	261.9M	-12.1M
Free cash flow	-28.7M	20.5M	28.3M	48.3M	8.6M	44.4M	96.3M	-30.3M	-139.2M	-41.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	23M	21.4M	52.5M	30.7M	26.5M	20.2M	6M	8.3M	-117.9M	-39.4M	-3.5M	26.2M
Depreciation & amortization	19.4M	20M	20.7M	36.8M	30.3M	36.4M	35.5M	36.2M	35.5M	39.1M	35.6M	33.2M
Stock-based compensation	10K	1K	700K	69K	10K	0	385K	63K	9K	0	954K	13K
Change in working capital	11.6M	-1.7M	43.5M	-21M	-24.2M	-175.3M	51.2M	-12.7M	-12.9M	19.8M	5.9M	7.1M
Operating cash flow	54.1M	49.8M	128.7M	54M	38M	-112.5M	90.6M	25.7M	25.9M	47.1M	33.4M	40.5M
Capital expenditure	750K	223K	202K	912K	681K	2.7M	940K	-84.3M	-54.5M	-32.9M	-9.6M	-13.3M
Investing cash flow	860K	290K	202K	912K	700K	-203.1M	1.1M	-82.1M	-53.8M	-32.9M	1.1M	-13.3M
Dividends paid	-2.8M	-2.8M	-2.8M	-2.8M	-2.8M	-2.8M	-2.8M	-2.8M	-2.8M	-2.8M	-2.8M	-2.8M
Share repurchases	-134K	0	—	—	0	-24K	—	—	0	0	—	—
Financing cash flow	7M	105.6M	29.2M	66.7M	70.6M	198.6M	-25.4M	55.7M	25.7M	-27.5M	-50.4M	-62.7M
Net change in cash	62M	155.6M	158M	121.6M	109.3M	-117M	66.3M	-618K	-2.2M	-13.2M	-15.9M	-35.5M
Free cash flow	-56M	582K	-31.7M	-67.6M	-58.9M	18.9M	31.7M	-58.5M	-28.6M	14.3M	23.8M	27.1M

Universal Logistics Holdings, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement