Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

U-Haul Holding Company (UHAL)

Company Dividend Discount ModelIndustry: Rental & Leasing ServicesSector: Industrials

Valuation Snapshot

Stable Growth$37.00 - $198.61$72.82
Multi-Stage$25.04 - $27.44$26.22
Blended Fair Value$49.52
Current Price$57.07
Upside-13.23%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS3.72%6.06%0.180.160.170.150.250.150.200.150.300.40
YoY Growth--11.11%-5.81%14.66%-40.00%66.71%-24.95%33.35%-50.00%-25.03%299.99%
Dividend Yield--0.30%0.26%0.31%0.31%0.42%0.50%0.53%0.42%0.82%1.07%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)197.46
(-) Cash Dividends Paid (M)35.29
(=) Cash Retained (M)162.17
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)39.4924.6814.81
Cash Retained (M)162.17162.17162.17
(-) Cash Required (M)-39.49-24.68-14.81
(=) Excess Retained (M)122.68137.49147.36
(/) Shares Outstanding (M)196.08196.08196.08
(=) Excess Retained per Share0.630.700.75
LTM Dividend per Share0.180.180.18
(+) Excess Retained per Share0.630.700.75
(=) Adjusted Dividend0.810.880.93
WACC / Discount Rate6.88%6.88%6.88%
Growth Rate4.61%5.61%6.61%
Fair Value$37.00$72.82$198.61
Upside / Downside-35.17%27.60%248.01%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)197.46208.53220.22232.56245.60259.37267.15
Payout Ratio17.87%32.30%46.72%61.15%75.57%90.00%92.50%
Projected Dividends (M)35.2967.35102.90142.21185.61233.43247.11

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.88%6.88%6.88%
Growth Rate4.61%5.61%6.61%
Year 1 PV (M)62.4263.0263.61
Year 2 PV (M)88.3790.0791.78
Year 3 PV (M)113.19116.47119.81
Year 4 PV (M)136.91142.22147.69
Year 5 PV (M)159.57167.34175.42
PV of Terminal Value (M)4,350.034,561.974,782.09
Equity Value (M)4,910.495,141.085,380.39
Shares Outstanding (M)196.08196.08196.08
Fair Value$25.04$26.22$27.44
Upside / Downside-56.12%-54.06%-51.92%

High-Yield Dividend Screener

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