U-Haul Holding Co /NV/
U-Haul Holding Co. is a Nevada-based holding company whose main operating business, U-Haul, serves the do-it-yourself moving and storage market across the United States and Canada. Through company-operated retail stores, a large independent dealer network, and digital channels, it provides truck and trailer rentals, self-storage, portable moving containers, and related moving supplies and protection products.
Fiscal year 2026 · change from previous year
Development 2021–2026
Business
Share of revenueRental of U-Haul trucks, trailers, and specialty towing equipment for local and one-way moves.
Company-owned, managed, and affiliate self-storage plus U-Box portable storage units.
Boxes, tape, pads, towing accessories, propane, and other moving-related retail items.
Safemove, Safetow, Safestor, Safehaul, Safemove Plus, and Safetrip coverage products.
Moving Help, storage reservations, and dealer network services that connect customers and providers.
Customers
U-Haul primarily serves do-it-yourself household movers who rent equipment and buy supplies to move their own goods. It also serves small commercial users, self-storage customers, and independent storage operators that participate in the reservation network. In addition, the insurance subsidiaries write property/casualty and life products for U-Haul-related and senior-market customers.
Rent trucks, trailers, U-Box containers, and buy moving supplies for personal moves.
Lease company-owned, managed, or affiliate storage units for household or commercial goods.
Use U-Haul branding, reservation systems, and product access to serve local customers.
Rent equipment and storage for light business logistics and local transport needs.
Buy property/casualty and life, Medicare supplement, or annuity products through the insurance subsidiaries.
Strategy
U-Haul’s strategy centers on expanding its rental and storage footprint while keeping the self-service model convenient and low-cost for customers. It also seeks to deepen utilization of its fleet and storage assets through dealer expansion, digital reservations, and the U-Haul Storage Affiliate program, which broadens inventory without requiring the same level of capital as owned assets.
Storage adds recurring customer demand and leverages existing brand traffic.
Adds inventory and reservation coverage with lower capital intensity.
Rental availability and used-vehicle monetization support the moving business model.
Broader access points improve lead generation and transaction volume.
Geography
U-Haul’s core moving and storage operations are conducted throughout the United States and Canada, with a dense footprint of company-operated stores and independent dealers. The business is geographically tied to local move activity, regional storage demand, and the availability of dealer and storage locations, while the insurance subsidiaries add a separate North American footprint.
Risks
U-Haul’s results depend on fleet availability, used-truck resale values, and access to new vehicles from a limited set of manufacturers. The business also carries liability exposure from rental operations, location activity, and insurance underwriting, while storage expansion and capital intensity make funding conditions and real estate execution important to performance.
- Residual value risk on used rental trucksImpact: HighLikelihood: Medium
Fleet rotation relies on selling used vehicles to fund new purchases.
Exposure: Truck fleet and fleet rotation program
- Manufacturer supply concentrationImpact: HighLikelihood: Medium
Most rental trucks come from a limited number of OEMs, creating supply risk.
Exposure: Fleet replenishment and expansion
- Operational liability exposureImpact: MediumLikelihood: Low
Rental fleet, store operations, and product sales can generate claims and litigation.
Exposure - Regulatory and technology transition riskImpact: MediumLikelihood: Low
Electric-vehicle mandates or travel restrictions could alter customer behavior and fleet economics.
Exposure: Moving business demand and fleet strategy
- Real estate execution and funding riskImpact: MediumLikelihood: Low
Storage growth depends on acquisitions, development, labor, materials, and capital access.
Exposure: Owned storage expansion
Accounting
Judgemental itemsUsed-truck prices and holding periods affect depreciation expense and disposal gains or losses.
Impact: Can materially change moving segment earnings and cash generation
Property/casualty and life subsidiaries require actuarial estimates for policy benefits and losses.
Impact: Affects insurance segment liabilities and earnings timing
Fixed-maturity securities are evaluated for expected credit losses and fair value declines.
Impact: Can create earnings volatility in the insurance subsidiaries
Large real estate, fleet, and insurance balance sheet items create deferred tax assets and liabilities.
Impact: Influences reported tax expense and equity
Owned, leased, and managed storage locations require different recognition and measurement treatments.
Impact: Affects operating assets, liabilities, and segment comparability
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Last updated: 24/09/2026