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$29.61 - $117.31$50.40
Multi-Stage$21.65 - $23.71$22.66
Blended Fair Value$36.53
Current Price$57.07
Upside-35.99%
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 Rate7.45%7.45%7.45%
Growth Rate4.61%5.61%6.61%
Fair Value$29.61$50.40$117.31
Upside / Downside-48.12%-11.69%105.56%

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 Rate7.45%7.45%7.45%
Growth Rate4.61%5.61%6.61%
Year 1 PV (M)62.0962.6863.28
Year 2 PV (M)87.4489.1290.81
Year 3 PV (M)111.40114.63117.92
Year 4 PV (M)134.04139.23144.58
Year 5 PV (M)155.39162.96170.82
PV of Terminal Value (M)3,695.043,875.074,062.04
Equity Value (M)4,245.404,443.694,649.46
Shares Outstanding (M)196.08196.08196.08
Fair Value$21.65$22.66$23.71
Upside / Downside-62.06%-60.29%-58.45%

High-Yield Dividend Screener

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