ULH Industrials

Universal Logistics Holdings, Inc.

$32.00+12.12%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Industrials
Industry: Trucking
Country: United States
Market cap: 843.8M USD
Enterprise value: 1.1B USD
Full-time employees: 10,525

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: less short-term liquidity (current ratio 1.20 vs a peer median of 1.62) and more debt relative to equity (1.23× vs a peer median of 0.40×)higher risk: less liquidity (current ratio 1.20 vs peers 1.62) and more debt vs equity (1.23× vs peers 0.40×)

Ranks #2,177 of 2,308 industrials companies (bottom 6%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $1M vs $0M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +0.3% from December 2022 to August 2026.
Over three fiscal years Universal Logistics recorded $1M of stock-based pay expense and spent $0M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Universal Logistics recorded $1M of stock-based pay expense and spent $0M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Earnings slid into a loss. Loss per share this year after a profit last year.
Universal Logistics made a loss per share in its latest year after a profit the year before.
Operating margin at a 6-year low. -4.1% in 2025, the weakest of the last 6 years.
Universal Logistics's operating margin fell to -4.1% in 2025, its lowest in the 6 years of filings we have.
Borrowing rising faster than profit. Since 2022 (an unusually strong year for operating profit): debt +111%, operating profit −127%.Since 2022: debt +111%, operating profit −127%.
Universal Logistics's debt grew 111% since 2022 while operating profit changed −127%.

StockQuotient Score

18/ 100▼ 4 since Oct 27 close

Oct 5 22 → Nov 4 18 (-4)

Valuation

Is the price right?

34/100

Weak▼ 15 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 49 → 34

Share price +93.2%-19
Company's reported figures updated+6
Peer companies moved-2

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-10.8%

SEC filings · 12 months to Jul 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.28Sector median: 0.0377 · MAD: 0.0294

EBITDA yield6.4%

SEC filings · 12 months to Jul 2026Reported value50% base weight · Z-score -0.14Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield4.3%

SEC filings · 12 months to Jul 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.17Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield66.5%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

11/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ EPS growth
▼ 3-yr revenue
▼ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Earnings per share turned from a profit to a loss33% base weight · Z-score -2.21Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth-5.5%

SEC filings · 3 years to Jul 2026Reported value33% base weight · Z-score -1.56Sector median: 0.0421 · MAD: 0.0625

Revenue growth-8.3%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -1.66Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

9/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Free cash flow turned positive over the last 12 months

Why

Weaker than most peers on:

▼ ROA
▼ Operating margin
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-3.3%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -2.17Sector median: 0.0773 · MAD: 0.0507

Return on assets-5.4%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -3.55Sector median: 0.0311 · MAD: 0.0241

Return on invested capital-3.2%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -1.85Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin19.1%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity-16.3%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Debt / equity
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.76

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.42Sector median: 0.6440 · MAD: 0.2745

Current ratio1.20×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.79Sector median: 1.6180 · MAD: 0.5360

Debt / equity1.23×

SEC filings · latest balance sheetReported value33% base weight · Z-score -2.46Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Universal Logistics

Is Universal Logistics getting weaker?: Its latest SEC filing (Aug 13, 2026) got stronger: free cash flow turned positive over the last 12 months. Its overall score is 18/100, down 4 since Oct 28, 2026.
How is Universal Logistics valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 34/100 against 2,459 industrials peers. Earnings yield -10.8% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -10.8% vs peers 3.8% (weaker than 100% of peers).
Is Universal Logistics growing?: More slowly than most of its peers. Growth scores 11/100 against 2,459 industrials peers. 3-year revenue growth -5.5% vs a peer median of 4.2% (weaker than 84% of peers).3-year revenue growth -5.5% vs peers 4.2% (weaker than 84% of peers).
How profitable is Universal Logistics?: Less profitable than most of its peers. Profitability scores 9/100 against 2,459 industrials peers. Return on assets -5.4% vs a peer median of 3.1% (weaker than 95% of peers).Return on assets -5.4% vs peers 3.1% (weaker than 95% of peers).
How risky is Universal Logistics?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Debt / equity 1.23× vs a peer median of 0.40× (weaker than 82% of peers).Debt / equity 1.23× vs peers 0.40× (weaker than 82% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jul 4, 2026 · filed Aug 13, 2026 · compared with the quarter ended Apr 4, 2026

Got stronger

Free cash flow turned positive over the last 12 months

Worth watching: Universal Logistics is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	1.5B USD	1.5B USD	−0.9%
Net income (12 months)	−109.4M USD	−91.5M USD	−16.3%
Operating margin	-4.9%	-3.3%	+1.6 pts
Free cash flow (12 months)	−49.0M USD	36.7M USD	turned positive
Debt	750.3M USD	692.6M USD	−7.7%
Cash	17.9M USD	20.3M USD	+13.3%
Shares outstanding	26.4M	26.4M	−0.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Industrials · 318 companies

Valuations in Industrials are near the top of their range since 2016.

85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.

2016Shaded: most expensive fifth of its range2026

Shown for Industrials: too few Trucking companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	5.9%	11.9%	8.8%	11.0%	-4.1%	▼ 15 pts
Net margin	4.2%	8.4%	5.6%	7.0%	-6.4%	▼ 13 pts
Return on assets (ROA)	6.5%	14.0%	7.4%	7.3%	-5.6%	▼ 13 pts
Return on equity (ROE)	24.4%	37.7%	17.5%	20.1%	-18.5%	▼ 39 pts
Free cash flow margin	2.5%	4.8%	-1.8%	-7.5%	-2.6%	▲ 4.9 pts
Current ratio	1.35×	1.60×	1.40×	1.35×	1.20×	▼ 11%
Quick ratio	1.30×	1.56×	1.36×	1.32×	1.17×	▼ 11%
Debt to equity	1.41×	0.85×	0.72×	1.17×	1.48×	▲ 26%
Interest coverage	8.84×	14.76×	6.01×	5.89×	-1.31×	▼ 122%

ULH price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: less short-term liquidity (current ratio 1.20 vs a peer median of 1.62) and more debt relative to equity (1.23× vs a peer median of 0.40×)higher risk: less liquidity (current ratio 1.20 vs peers 1.62) and more debt vs equity (1.23× vs peers 0.40×)

Ranks #2,177 of 2,308 industrials companies (bottom 6%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $1M vs $0M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +0.3% from December 2022 to August 2026.

Over three fiscal years Universal Logistics recorded $1M of stock-based pay expense and spent $0M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Universal Logistics recorded $1M of stock-based pay expense and spent $0M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

Earnings slid into a loss. Loss per share this year after a profit last year.

Universal Logistics made a loss per share in its latest year after a profit the year before.

Operating margin at a 6-year low. -4.1% in 2025, the weakest of the last 6 years.

Universal Logistics's operating margin fell to -4.1% in 2025, its lowest in the 6 years of filings we have.

Borrowing rising faster than profit. Since 2022 (an unusually strong year for operating profit): debt +111%, operating profit −127%.Since 2022: debt +111%, operating profit −127%.

Universal Logistics's debt grew 111% since 2022 while operating profit changed −127%.

Questions investors ask about Universal Logistics

Is Universal Logistics getting weaker?

Its latest SEC filing (Aug 13, 2026) got stronger: free cash flow turned positive over the last 12 months. Its overall score is 18/100, down 4 since Oct 28, 2026.

How is Universal Logistics valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 34/100 against 2,459 industrials peers. Earnings yield -10.8% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -10.8% vs peers 3.8% (weaker than 100% of peers).

Is Universal Logistics growing?

More slowly than most of its peers. Growth scores 11/100 against 2,459 industrials peers. 3-year revenue growth -5.5% vs a peer median of 4.2% (weaker than 84% of peers).3-year revenue growth -5.5% vs peers 4.2% (weaker than 84% of peers).

How profitable is Universal Logistics?

Less profitable than most of its peers. Profitability scores 9/100 against 2,459 industrials peers. Return on assets -5.4% vs a peer median of 3.1% (weaker than 95% of peers).Return on assets -5.4% vs peers 3.1% (weaker than 95% of peers).

How risky is Universal Logistics?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Debt / equity 1.23× vs a peer median of 0.40× (weaker than 82% of peers).Debt / equity 1.23× vs peers 0.40× (weaker than 82% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

1.5B USD

1.5B USD

−0.9%

Net income (12 months)

−109.4M USD

−91.5M USD

−16.3%

Operating margin

-4.9%

-3.3%

+1.6 pts

Free cash flow (12 months)

−49.0M USD

36.7M USD

turned positive

Debt

750.3M USD

692.6M USD

−7.7%

Cash

17.9M USD

20.3M USD

+13.3%

Shares outstanding

26.4M

26.4M

−0.0%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

5.9%

11.9%

8.8%

11.0%

-4.1%

▼ 15 pts

Net margin

4.2%

8.4%

5.6%

7.0%

-6.4%

▼ 13 pts

Return on assets (ROA)

6.5%

14.0%

7.4%

7.3%

-5.6%

▼ 13 pts

Return on equity (ROE)

24.4%

37.7%

17.5%

20.1%

-18.5%

▼ 39 pts

Free cash flow margin

2.5%

4.8%

-1.8%

-7.5%

-2.6%

▲ 4.9 pts

Current ratio

1.35×

1.60×

1.40×

1.35×

1.20×

▼ 11%

Quick ratio

1.30×

1.56×

1.36×

1.32×

1.17×

▼ 11%

Debt to equity

1.41×

0.85×

0.72×

1.17×

1.48×

▲ 26%

Interest coverage

8.84×

14.76×

6.01×

5.89×

-1.31×

▼ 122%