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Universal Logistics Holdings, Inc. (ULH) 10-Year Financial Performance & Capital Metrics

ULH • • Industrial / General
IndustrialsTruckingSpecialized & Dedicated ServicesExpedited & Time-Sensitive Services
AboutUniversal Logistics Holdings, Inc. provides transportation and logistics solutions in the United States, Mexico, Canada, and Colombia. It offers truckload services, which include dry van, flatbed, heavy-haul, and refrigerated operations; domestic and international freight forwarding, and customs brokerage services; and final mile and ground expedite services. The company transports various commodities comprising automotive parts, machinery, building materials, paper, food, consumer goods, furniture, steel, and other metals. It also provides value-added services for individual customer requirements, including material handling, consolidation, sequencing, sub-assembly, cross-dock, kitting, repacking, warehousing, and returnable container management; and intermodal support services comprising short-to-medium distance delivery of steamship and rail truck containers between the port or railhead, and the customer and drayage services. The company serves automotive, steel, oil and gas, alternative energy, and manufacturing industries, as well as other transportation companies who aggregate loads from various shippers. The company was formerly known as Universal Truckload Services, Inc. and changed its name to Universal Logistics Holdings, Inc. in April 2016. Universal Logistics Holdings, Inc. was founded in 1932 and is headquartered in Warren, Michigan.Show more
  • Revenue $1.85B +11.1%
  • EBITDA $327M +47.1%
  • Net Income $130M +39.8%
  • EPS (Diluted) 4.93 +39.7%
  • Gross Margin 17.11% +11.2%
  • EBITDA Margin 17.73% +32.5%
  • Operating Margin 11% +25.7%
  • Net Margin 7.04% +25.9%
  • ROE 22.03% +16.1%
  • ROIC 12.38% +6.6%
  • Debt/Equity 1.30 +45.0%
  • Interest Coverage 5.89 -1.9%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Excellent 3Y average ROE of 28.7%
  • ✓Strong 5Y profit CAGR of 28.2%
  • ✓Healthy dividend yield of 2.2%
  • ✓Trading at only 0.8x book value
  • ✓Efficient asset utilization: 1.0x turnover

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.48%
5Y4.07%
3Y1.78%
TTM-5.55%

Profit (Net Income) CAGR

10Y11.09%
5Y28.15%
3Y20.78%
TTM-52.18%

EPS CAGR

10Y12.56%
5Y29.76%
3Y21.63%
TTM-51.96%

ROCE

10Y Avg14.01%
5Y Avg16.49%
3Y Avg19.75%
Latest16.41%

Peer Comparison

Expedited & Time-Sensitive Services
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
ULHUniversal Logistics Holdings, Inc.496.58M18.863.8311.06%3.66%9.34%1.30

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+1.13B1.07B1.22B1.46B1.51B1.39B1.75B2.02B1.66B1.85B
Revenue Growth %-0.05%-0.05%0.13%0.2%0.03%-0.08%0.26%0.15%-0.18%0.11%
Cost of Goods Sold+850.09M841.06M1.08B1.28B1.25B1.23B1.54B1.66B1.41B1.53B
COGS % of Revenue0.75%0.78%0.89%0.87%0.83%0.89%0.88%0.83%0.85%0.83%
Gross Profit+278.69M231.69M131.83M183.17M263.26M159.54M215.33M352.4M255.82M315.88M
Gross Margin %0.25%0.22%0.11%0.13%0.17%0.11%0.12%0.17%0.15%0.17%
Gross Profit Growth %-0.1%-0.17%-0.43%0.39%0.44%-0.39%0.35%0.64%-0.27%0.23%
Operating Expenses+205.29M185.11M106.61M99.38M197.88M79.18M112.37M111.96M110.37M112.77M
OpEx % of Revenue0.18%0.17%0.09%0.07%0.13%0.06%0.06%0.06%0.07%0.06%
Selling, General & Admin58.92M61.72M64.73M62M70.6M52.52M114.76M109.56M79M55.32M
SG&A % of Revenue0.05%0.06%0.05%0.04%0.05%0.04%0.07%0.05%0.05%0.03%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses790K934K1.37M188K127.28M26.66M-2.39M2.4M31.37M57.45M
Operating Income+73.39M46.58M25.21M83.79M65.38M80.36M102.96M240.44M145.44M203.11M
Operating Margin %0.07%0.04%0.02%0.06%0.04%0.06%0.06%0.12%0.09%0.11%
Operating Income Growth %-0.09%-0.37%-0.46%2.32%-0.22%0.23%0.28%1.34%-0.4%0.4%
EBITDA+108.27M83.28M72.21M138.22M140.14M154.5M170.5M317.09M222.48M327.3M
EBITDA Margin %0.1%0.08%0.06%0.09%0.09%0.11%0.1%0.16%0.13%0.18%
EBITDA Growth %-0.05%-0.23%-0.13%0.91%0.01%0.1%0.1%0.86%-0.3%0.47%
D&A (Non-Cash Add-back)34.87M36.7M46.99M54.42M74.77M74.14M67.54M76.66M77.04M124.19M
EBIT74.24M46.58M40.81M94.29M95.28M78.54M110.22M241.71M148.51M208.22M
Net Interest Income+-9.18M-8.11M-9.45M-14.59M-17.01M-14.58M-11.6M-16.16M-22.75M-30.21M
Interest Income0157K00047K43K132K1.45M4.27M
Interest Expense9.18M8.27M9.45M14.59M17.01M14.63M11.64M16.29M24.21M34.48M
Other Income/Expense-8.39M-7.17M-8.07M-14.4M-15.19M-16.45M-4.38M-15.01M-21.14M-29.37M
Pretax Income+65M39.41M17.14M69.39M50.19M63.91M98.58M225.42M124.3M173.74M
Pretax Margin %0.06%0.04%0.01%0.05%0.03%0.05%0.06%0.11%0.07%0.09%
Income Tax+25M15.16M-11.01M17.21M12.6M15.78M24.85M56.79M31.4M43.84M
Effective Tax Rate %0.62%0.62%1.64%0.75%0.75%0.75%0.75%0.75%0.75%0.75%
Net Income+40M24.24M28.15M52.18M37.59M48.13M73.73M168.63M92.9M129.91M
Net Margin %0.04%0.02%0.02%0.04%0.02%0.03%0.04%0.08%0.06%0.07%
Net Income Growth %-0.12%-0.39%0.16%0.85%-0.28%0.28%0.53%1.29%-0.45%0.4%
Net Income (Continuing)40M24.24M28.15M52.18M37.59M48.13M73.73M168.63M92.9M129.91M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+1.370.850.991.841.341.782.746.373.534.93
EPS Growth %-0.09%-0.38%0.16%0.86%-0.27%0.33%0.54%1.32%-0.45%0.4%
EPS (Basic)1.370.850.991.841.341.782.746.373.534.94
Diluted Shares Outstanding29.23M28.41M28.43M28.39M28.07M27M26.93M26.49M26.31M26.35M
Basic Shares Outstanding29.23M28.41M28.43M28.38M28.07M27M26.92M26.47M26.28M26.32M
Dividend Payout Ratio0.2%0.33%0.28%0.21%0.4%0.12%0.15%0.08%0.12%0.09%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+209.53M207.45M228.67M275.26M271.84M321.52M420.69M459.65M365.47M409.81M
Cash & Short-Term Investments26.36M16.11M16.82M15.06M17.09M15.3M21.96M57.18M23.28M30.94M
Cash Only12.93M1.75M1.67M5.73M7.73M8.76M13.93M47.18M12.51M19.35M
Short-Term Investments13.43M14.36M15.14M9.33M9.37M6.53M8.03M10M10.77M11.59M
Accounts Receivable158.62M144.71M171.04M215.99M231.3M285.32M370.55M376.84M312.02M354.91M
Days Sales Outstanding51.2949.2451.3153.9355.8474.8677.2468.2568.5270.17
Inventory8.62M8.62M5.34M6.75M7.16M8.28M14.1M008.27M
Days Inventory Outstanding3.73.741.81.932.092.453.35--1.97
Other Current Assets15.42M26.74M22.03M19.13M12.51M00030.17M0
Total Non-Current Assets+301.47M363.01M381.93M567.56M723.59M741.52M716.8M744.03M888.05M1.38B
Property, Plant & Equipment177.19M246.28M267.19M303.23M434.47M462.62M451.44M490.88M648.3M816.37M
Fixed Asset Turnover6.37x4.36x4.55x4.82x3.48x3.01x3.88x4.11x2.56x2.26x
Goodwill74.48M74.48M74.48M145.15M168.45M170.73M170.73M170.73M170.73M206.76M
Intangible Assets44.66M37.19M31.26M113.78M116.11M102.24M88.35M73.97M61.3M150.93M
Long-Term Investments-83K-111.84M-109.9M-261.48M000000
Other Non-Current Assets5.13M116.73M114.73M264.33M3.1M5.94M4.21M7.05M6.5M202.64M
Total Assets+511M570.46M610.59M842.82M995.43M1.06B1.14B1.2B1.25B1.79B
Asset Turnover2.21x1.88x1.99x1.73x1.52x1.31x1.54x1.67x1.33x1.03x
Asset Growth %-0.03%0.12%0.07%0.38%0.18%0.07%0.07%0.06%0.04%0.43%
Total Current Liabilities+91.7M109.96M158.2M169.27M250.42M272.81M312.71M286.9M260.42M304.57M
Accounts Payable46.35M65.94M84.38M92.02M91.91M97.92M117.84M87.14M64.1M59.98M
Days Payables Outstanding19.928.6228.3926.2726.8629.0228.0119.1216.6414.31
Short-Term Debt61.22M34.45M40.87M51.9M59.48M59.71M61.16M65.3M70.69M88.81M
Deferred Revenue (Current)-1000K-1000K-1000K1000K000000
Other Current Liabilities5.53M7.6M3.79M6.6M28.29M19.3M17.43M34.67M28.74M36.83M
Current Ratio2.28x1.89x1.45x1.63x1.09x1.18x1.35x1.60x1.40x1.35x
Quick Ratio2.19x1.81x1.41x1.59x1.06x1.15x1.30x1.60x1.40x1.32x
Cash Conversion Cycle35.0924.3624.7229.5931.0748.352.59--57.84
Total Non-Current Liabilities+288.22M312.76M283.63M464.25M539.8M550.67M522.57M469.85M460.91M835.25M
Long-Term Debt172.19M226.81M207.11M348.55M398.14M400.41M366.19M313.2M311.24M670.27M
Capital Lease Obligations1.06M00070.27M78.09M85.98M77.6M63.62M50.79M
Deferred Tax Liabilities46.84M47.82M32.36M59.23M65.69M64.43M61.25M69.58M79.57M109.01M
Other Non-Current Liabilities4.48M51.4M35.65M64.13M5.7M7.74M9.15M9.46M6.49M5.17M
Total Liabilities379.92M422.73M441.83M633.52M790.22M823.48M835.28M756.75M721.33M1.14B
Total Debt+236.89M261.46M247.98M400.45M554.21M560.13M537.9M484.33M475.54M838.44M
Net Debt223.96M259.7M246.31M394.73M546.48M551.37M523.97M437.15M463.03M819.09M
Debt / Equity1.81x1.77x1.47x1.91x2.70x2.34x1.78x1.08x0.89x1.30x
Debt / EBITDA2.19x3.14x3.43x2.90x3.95x3.63x3.15x1.53x2.14x2.56x
Net Debt / EBITDA2.07x3.12x3.41x2.86x3.90x3.57x3.07x1.38x2.08x2.50x
Interest Coverage8.00x5.64x2.67x5.74x3.84x5.49x8.84x14.76x6.01x5.89x
Total Equity+131.08M147.73M168.76M209.3M205.22M239.57M302.21M446.93M532.2M647.02M
Equity Growth %-0.04%0.13%0.14%0.24%-0.02%0.17%0.26%0.48%0.19%0.22%
Book Value per Share4.485.205.947.377.318.8711.2216.8720.2324.56
Total Shareholders' Equity131.08M147.73M168.76M209.3M205.22M239.57M302.21M446.93M532.2M647.02M
Common Stock30.89M30.92M30.94M30.97M30.97M30.98M30.99M31M31.01M26.32M
Retained Earnings149.74M166.03M186.23M231.53M251.2M293.64M356.07M513.59M595.45M623.02M
Treasury Stock-50.02M-50.04M-51.53M-52.46M-77.25M-82.39M-82.39M-96.71M-96.84M-107K
Accumulated OCI-2.44M-2.63M-713K-4.96M-4.01M-7.15M-7.1M-5.8M-2.52M-7.22M
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+78.3M68.63M83.85M94.9M128.04M99.34M83.28M213.41M210.25M112.37M
Operating CF Margin %0.07%0.06%0.07%0.06%0.08%0.07%0.05%0.11%0.13%0.06%
Operating CF Growth %-0.01%-0.12%0.22%0.13%0.35%-0.22%-0.16%1.56%-0.01%-0.47%
Net Income40M24.24M28.15M52.18M37.59M48.13M73.73M168.63M92.9M129.91M
Depreciation & Amortization34.87M36.7M46.99M54.42M74.77M74.14M67.54M76.66M77.04M124.19M
Stock-Based Compensation494K571K414K413K73K195K162K222K262K779K
Deferred Taxes478K6.61M-19.01M6.58M7.16M-3.28M-3.2M8.21M10.15M30.34M
Other Non-Cash Items5.05M3.16M921K2.55M1.78M7.77M5.5M5.83M32.27M36.24M
Working Capital Changes-2.59M-2.66M26.38M-21.24M6.67M-27.62M-60.46M-46.15M-2.37M-209.09M
Change in Receivables4.42M-7.51M-29.4M-26.47M21.8M-58.09M-92.97M-16.27M62.5M35.98M
Change in Inventory0000-21.8M58.09M92.97M000
Change in Payables-11.7M18M40.63M-2.14M-13.79M26.73M36.63M-37.52M-29.83M4.47M
Cash from Investing+-26.16M-94.08M-61.29M-229.2M-143.06M-86.56M-33.23M-103.74M-236.77M-462.9M
Capital Expenditures-26.26M-97.35M-63.36M-66.58M-79.75M-90.71M-38.84M-117.1M-240.55M-251.6M
CapEx % of Revenue0.02%0.09%0.05%0.05%0.05%0.07%0.02%0.06%0.14%0.14%
Acquisitions----------
Investments----------
Other Investing-25.44M-94.92M-62.15M6.48M11.15M4.19M-33.24M14.28M3.51M4.45M
Cash from Financing+-46.17M14.11M-23.16M138.83M16.75M-8.95M-44.56M-78.24M-8.56M365.04M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-8.17M-7.95M-7.96M-10.93M-15.04M-5.73M-11.3M-13.94M-11.04M-11.05M
Share Repurchases----------
Other Financing0-396K0-3.14M0-46K0-4.42M-947K0
Net Change in Cash----------
Free Cash Flow+52.05M-28.72M20.49M28.32M48.28M8.63M44.44M96.31M-30.31M-139.23M
FCF Margin %0.05%-0.03%0.02%0.02%0.03%0.01%0.03%0.05%-0.02%-0.08%
FCF Growth %1.65%-1.55%1.71%0.38%0.71%-0.82%4.15%1.17%-1.31%-3.59%
FCF per Share1.78-1.010.721.001.720.321.653.64-1.15-5.28
FCF Conversion (FCF/Net Income)1.96x2.83x2.98x1.82x3.41x2.06x1.13x1.27x2.26x0.87x
Interest Paid7.65M7.8M9.1M13.32M16.35M14.04M11.22M14.33M23.4M33.39M
Taxes Paid21.54M20.9M2.21M4.79M12.46M3.78M36.17M40.89M25.41M18.59M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)29.82%17.39%17.79%27.6%18.13%21.64%27.22%45.02%18.98%22.03%
Return on Invested Capital (ROIC)15.24%9.16%4.6%12.33%7.23%7.81%9.55%21.09%11.61%12.38%
Gross Margin24.69%21.6%10.84%12.53%17.41%11.47%12.3%17.48%15.39%17.11%
Net Margin3.54%2.26%2.31%3.57%2.49%3.46%4.21%8.37%5.59%7.04%
Debt / Equity1.81x1.77x1.47x1.91x2.70x2.34x1.78x1.08x0.89x1.30x
Interest Coverage8.00x5.64x2.67x5.74x3.84x5.49x8.84x14.76x6.01x5.89x
FCF Conversion1.96x2.83x2.98x1.82x3.41x2.06x1.13x1.27x2.26x0.87x
Revenue Growth-5.27%-4.96%13.42%20.14%3.44%-8%25.87%15.1%-17.53%11.06%

Revenue by Segment

2015201620172018201920202021202220232024
Value Added Services----376.52M332.16M423.12M499.35M486.03M785.45M
Value Added Services Growth------11.78%27.39%18.02%-2.67%61.60%
Dedicated Services----138.66M127.51M204.1M324.59M343.54M344.21M
Dedicated Services Growth------8.04%60.07%59.03%5.84%0.19%
Intermodal Services----390.3M393.63M473.06M591.95M374.67M300.72M
Intermodal Services Growth-----0.85%20.18%25.13%-36.71%-19.74%
Truckload Services----251.57M201.42M248.88M230.7M213.87M234.4M
Truckload Services Growth------19.94%23.56%-7.31%-7.29%9.60%
Brokerage Services----354.94M336.37M401.82M368.88M244.02M181.26M
Brokerage Services Growth------5.23%19.46%-8.20%-33.85%-25.72%
Transportation721.44M656.5M750.3M949.24M------
Transportation Growth--9.00%14.29%26.51%------
Logistics406.82M414.95M465.07M510.92M------
Logistics Growth-2.00%12.08%9.86%------

Revenue by Geography

2015201620172018201920202021202220232024
UNITED STATES-1.04B1.18B1.43B1.48B1.36B1.72B1.98B1.62B1.79B
UNITED STATES Growth--13.49%21.01%3.77%-8.08%26.43%14.92%-17.92%10.36%
MEXICO-20.05M24.35M18.72M16.1M17.9M15.24M22.89M30.46M49.27M
MEXICO Growth--21.45%-23.12%-13.98%11.17%-14.88%50.23%33.09%61.76%
CANADA-12.16M11.54M14.19M13.55M10.87M13.21M13.18M5.85M3.38M
CANADA Growth---5.09%22.97%-4.48%-19.81%21.53%-0.25%-55.63%-42.23%
COLOMBIA-1.58M1.67M1.91M1.71M1.38M1.92M2.05M2.84M2.18M
COLOMBIA Growth--5.11%14.47%-10.38%-19.19%38.81%7.09%38.24%-23.22%
U S1.09B---------
U S Growth----------
M X27.68M---------
M X Growth----------
C A8.58M---------
C A Growth----------
Europe1.84M---------
Europe Growth----------
C O1.84M---------
C O Growth----------
X X1.15M---------
X X Growth----------

Frequently Asked Questions

Valuation & Price

Universal Logistics Holdings, Inc. (ULH) has a price-to-earnings (P/E) ratio of 3.8x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Universal Logistics Holdings, Inc. (ULH) reported $1.67B in revenue for fiscal year 2024. This represents a 138% increase from $699.8M in 2011.

Universal Logistics Holdings, Inc. (ULH) grew revenue by 11.1% over the past year. This is steady growth.

Yes, Universal Logistics Holdings, Inc. (ULH) is profitable, generating $61.0M in net income for fiscal year 2024 (7.0% net margin).

Dividend & Returns

Yes, Universal Logistics Holdings, Inc. (ULH) pays a dividend with a yield of 2.22%. This makes it attractive for income-focused investors.

Universal Logistics Holdings, Inc. (ULH) has a return on equity (ROE) of 22.0%. This is excellent, indicating efficient use of shareholder capital.

Universal Logistics Holdings, Inc. (ULH) had negative free cash flow of $66.8M in fiscal year 2024, likely due to heavy capital investments.

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