Universal Logistics (ULH)
Market Price (8/4/2026): $18.25 | Market Cap: $480.9 MilSector: Industrials | Industry: Cargo Ground Transportation
Universal Logistics (ULH)
Market Price (8/4/2026): $18.25Market Cap: $480.9 MilSector: IndustrialsIndustry: Cargo Ground Transportation
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldDividend Yield is 2.3% Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, E-commerce & DTC Adoption, and Future of Freight. Themes include Last-Mile Delivery, Show more. | Weak multi-year price returns2Y Excs Rtn is -94%, 3Y Excs Rtn is -107% Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.73 | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 190% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -11%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.0%, Rev Chg QQuarterly Revenue Change % is -3.9% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3.2% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -25% Key risksULH key risks include [1] its heavy customer concentration and reliance on the automotive industry and [2] a substantial debt burden. |
| Attractive yieldDividend Yield is 2.3% |
| Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, E-commerce & DTC Adoption, and Future of Freight. Themes include Last-Mile Delivery, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -94%, 3Y Excs Rtn is -107% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.73 |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 190% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -11%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.0%, Rev Chg QQuarterly Revenue Change % is -3.9% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3.2% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -25% |
| Key risksULH key risks include [1] its heavy customer concentration and reliance on the automotive industry and [2] a substantial debt burden. |
Qualitative Assessment
AI Analysis | Feedback
Universal Logistics (ULH) stock has lost about 25% since 4/30/2026 because of the following key factors:
1. Universal Logistics experienced a net loss and declining revenue in fiscal Q1 2026.
The company reported a net loss of $(3.5) million, or $(0.13) per diluted share, for the fiscal quarter ending March 31, 2026, compared to a net income of $6.0 million, or $0.23 per share, in fiscal Q1 2025. Total operating revenue decreased 3.9% to $367.6 million from $382.4 million in the prior year, and the operating margin fell from 4.1% to 1.3%.
2. Fiscal Q2 2026 results showed a significant drop in adjusted profitability despite a non-recurring gain.
While Universal Logistics reported a GAAP EPS of $0.99 per diluted share for fiscal Q2 2026, this was largely driven by a $45.3 million gain from the sale of real property. Excluding this and other items, adjusted earnings were $0.16 per diluted share, a decrease from $0.32 per share in fiscal Q2 2025. Adjusted operating income declined 20% year-over-year to $16.0 million, and the adjusted operating margin decreased to 4.2% from 5.1% in the prior year period. Total operating revenues for the quarter were $379.3 million, down 4% from $393.8 million in fiscal Q2 2025 and below the consensus estimate of $380.40 million.
Show more
Universal Logistics (ULH) stock has lost about 25% since 4/30/2026 because of the following key factors:
1. Universal Logistics experienced a net loss and declining revenue in fiscal Q1 2026.
The company reported a net loss of $(3.5) million, or $(0.13) per diluted share, for the fiscal quarter ending March 31, 2026, compared to a net income of $6.0 million, or $0.23 per share, in fiscal Q1 2025. Total operating revenue decreased 3.9% to $367.6 million from $382.4 million in the prior year, and the operating margin fell from 4.1% to 1.3%.
2. Fiscal Q2 2026 results showed a significant drop in adjusted profitability despite a non-recurring gain.
While Universal Logistics reported a GAAP EPS of $0.99 per diluted share for fiscal Q2 2026, this was largely driven by a $45.3 million gain from the sale of real property. Excluding this and other items, adjusted earnings were $0.16 per diluted share, a decrease from $0.32 per share in fiscal Q2 2025. Adjusted operating income declined 20% year-over-year to $16.0 million, and the adjusted operating margin decreased to 4.2% from 5.1% in the prior year period. Total operating revenues for the quarter were $379.3 million, down 4% from $393.8 million in fiscal Q2 2025 and below the consensus estimate of $380.40 million.
3. The intermodal segment demonstrated persistent and worsening weakness.
Universal Logistics' intermodal segment saw revenues decline 36.0% to $44.1 million in fiscal Q2 2026 from $68.9 million in the prior year, with load volumes decreasing by 34.0%. This segment reported an operating loss of $10.4 million in fiscal Q2 2026, a significant widening from a $5.7 million loss in the same period last year. This continued the trend from fiscal Q1 2026, where intermodal weakness, including a 32.3% revenue decrease and a $13.1 million operating loss, was a primary drag on overall performance.
4. High financial leverage and negative free cash flow raised concerns about financial flexibility.
The company maintains a high financial risk profile, with total outstanding borrowings of $695.5 million as of July 4, 2026, and a net debt of $675 million. This elevated leverage, coupled with a sharp profitability downturn, margin compression, and negative free cash flow, has limited Universal Logistics' financial flexibility and contributed to a cautious outlook from analysts.
Show less
Stock Movement Drivers
Fundamental Drivers
The -23.9% change in ULH stock from 4/30/2026 to 8/3/2026 was primarily driven by a -23.1% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 8032026 | Change |
|---|---|---|---|
| Stock Price ($) | 23.92 | 18.21 | -23.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,558 | 1,544 | -1.0% |
| P/S Multiple | 0.4 | 0.3 | -23.1% |
| Shares Outstanding (Mil) | 26 | 26 | -0.1% |
| Cumulative Contribution | -23.9% |
Market Drivers
4/30/2026 to 8/3/2026| Return | Correlation | |
|---|---|---|
| ULH | -23.9% | |
| Market (SPY) | 5.4% | 15.7% |
| Sector (XLI) | 4.9% | 26.0% |
Fundamental Drivers
The 15.2% change in ULH stock from 1/31/2026 to 8/3/2026 was primarily driven by a 22.3% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 8032026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.81 | 18.21 | 15.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,638 | 1,544 | -5.8% |
| P/S Multiple | 0.3 | 0.3 | 22.3% |
| Shares Outstanding (Mil) | 26 | 26 | -0.1% |
| Cumulative Contribution | 15.2% |
Market Drivers
1/31/2026 to 8/3/2026| Return | Correlation | |
|---|---|---|
| ULH | 15.2% | |
| Market (SPY) | 9.8% | 23.1% |
| Sector (XLI) | 11.0% | 29.3% |
Fundamental Drivers
The -22.1% change in ULH stock from 7/31/2025 to 8/3/2026 was primarily driven by a -12.2% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 8032026 | Change |
|---|---|---|---|
| Stock Price ($) | 23.37 | 18.21 | -22.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,737 | 1,544 | -11.1% |
| P/S Multiple | 0.4 | 0.3 | -12.2% |
| Shares Outstanding (Mil) | 26 | 26 | -0.1% |
| Cumulative Contribution | -22.1% |
Market Drivers
7/31/2025 to 8/3/2026| Return | Correlation | |
|---|---|---|
| ULH | -22.1% | |
| Market (SPY) | 20.9% | 29.2% |
| Sector (XLI) | 21.7% | 37.5% |
Fundamental Drivers
The -38.4% change in ULH stock from 7/31/2023 to 8/3/2026 was primarily driven by a -22.8% change in the company's P/S Multiple.| (LTM values as of) | 7312023 | 8032026 | Change |
|---|---|---|---|
| Stock Price ($) | 29.58 | 18.21 | -38.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,929 | 1,544 | -20.0% |
| P/S Multiple | 0.4 | 0.3 | -22.8% |
| Shares Outstanding (Mil) | 26 | 26 | -0.3% |
| Cumulative Contribution | -38.4% |
Market Drivers
7/31/2023 to 8/3/2026| Return | Correlation | |
|---|---|---|
| ULH | -38.4% | |
| Market (SPY) | 71.4% | 32.3% |
| Sector (XLI) | 72.8% | 39.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ULH Return | -7% | 81% | -15% | 66% | -66% | -11% | -29% |
| Peers Return | 31% | -16% | 39% | 14% | 14% | 30% | 159% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 99% |
Monthly Win Rates [3] | |||||||
| ULH Win Rate | 42% | 67% | 50% | 58% | 33% | 50% | |
| Peers Win Rate | 63% | 40% | 55% | 48% | 63% | 52% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 38% | |
Max Drawdowns [4] | |||||||
| ULH Max Drawdown | -34% | -24% | -51% | -24% | -72% | -51% | |
| Peers Max Drawdown | -17% | -31% | -27% | -23% | -32% | -20% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: JBHT, KNX, XPO, SNDR, CHRW.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/3/2026 (YTD)
How Low Can It Go
| Event | ULH | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.4% | -18.8% |
| % Gain to Breakeven | 34.0% | 23.1% |
| Time to Breakeven | 86 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -31.5% | -9.5% |
| % Gain to Breakeven | 46.0% | 10.5% |
| Time to Breakeven | 104 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -15.5% | -6.7% |
| % Gain to Breakeven | 18.4% | 7.1% |
| Time to Breakeven | 34 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -12.9% | -24.5% |
| % Gain to Breakeven | 14.8% | 32.4% |
| Time to Breakeven | 28 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -37.6% | -33.7% |
| % Gain to Breakeven | 60.3% | 50.9% |
| Time to Breakeven | 123 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -51.4% | -19.2% |
| % Gain to Breakeven | 105.6% | 23.8% |
| Time to Breakeven | 1316 days | 105 days |
In The Past
Universal Logistics's stock fell -25.4% during the 2025 US Tariff Shock. Such a loss loss requires a 34.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | ULH | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.4% | -18.8% |
| % Gain to Breakeven | 34.0% | 23.1% |
| Time to Breakeven | 86 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -31.5% | -9.5% |
| % Gain to Breakeven | 46.0% | 10.5% |
| Time to Breakeven | 104 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -37.6% | -33.7% |
| % Gain to Breakeven | 60.3% | 50.9% |
| Time to Breakeven | 123 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -51.4% | -19.2% |
| % Gain to Breakeven | 105.6% | 23.8% |
| Time to Breakeven | 1316 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -43.4% | -12.2% |
| % Gain to Breakeven | 76.7% | 13.9% |
| Time to Breakeven | 616 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -52.2% | -6.8% |
| % Gain to Breakeven | 109.0% | 7.3% |
| Time to Breakeven | 682 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -29.1% | -17.9% |
| % Gain to Breakeven | 41.0% | 21.8% |
| Time to Breakeven | 70 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -28.2% | -15.4% |
| % Gain to Breakeven | 39.3% | 18.2% |
| Time to Breakeven | 533 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -48.9% | -53.4% |
| % Gain to Breakeven | 95.7% | 114.4% |
| Time to Breakeven | 1075 days | 1085 days |
In The Past
Universal Logistics's stock fell -25.4% during the 2025 US Tariff Shock. Such a loss loss requires a 34.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Universal Logistics (ULH)
Universal Logistics (ULH), officially known as Universal Truckload Services, Inc., is a comprehensive provider of transportation and logistics solutions. The company's core business involves facilitating the movement and management of goods, offering a vital link in the supply chains of various industries.
Its main products and services primarily consist of a broad spectrum of transportation offerings, including truckload and other freight services, complemented by integrated logistics solutions such as supply chain management and freight forwarding. Universal Logistics serves a wide international market, with significant operations spanning the United States, Mexico, Canada, Colombia, and Europe, as well as other global regions.
AI Analysis | Feedback
Here are 1-2 brief analogies for Universal Logistics (ULH):
- Universal Logistics is like a JB Hunt for integrated freight and logistics solutions.
- It's similar to an XPO Logistics specializing in transportation and supply chain management for businesses.
AI Analysis | Feedback
- Truckload Transportation: Provides full truckload freight hauling services for diverse industries.
- Intermodal Transportation: Combines rail and truck services for efficient, long-distance freight movement.
- Less-Than-Truckload (LTL) Services: Offers transportation for smaller freight volumes that do not require a full truck.
- Logistics and Value-Added Services: Manages warehousing, distribution, inventory, kitting, and other supply chain support.
- Drayage Services: Specializes in short-haul transportation of containers to and from ports and rail yards.
- Expedited and Specialized Transportation: Delivers time-sensitive and tailored solutions for unique or urgent freight requirements.
AI Analysis | Feedback
Universal Logistics (ULH) primarily sells its transportation and logistics solutions to other companies.
Its major customers include:
- General Motors Corporation (NYSE: GM)
- Ford Motor Company (NYSE: F)
AI Analysis | Feedback
AI Analysis | Feedback
Tim Phillips, Chief Executive Officer and President
Tim Phillips has served as President and Chief Executive Officer of Universal Logistics Holdings since January 10, 2020. He began his career with Universal in 1989 and has accumulated over 30 years of experience in various leadership capacities within the company, including Executive Vice President of Transportation. He also held the position of President of Universal's intermodal division from October 2009 to January 2019 and served as president of a predecessor to UACL Logistics, LLC from January 2007 to September 2009. Early in his career, he served as president of subsidiaries like The Mason & Dixon Lines, a predecessor company to Universal Truckload. Phillips holds a Bachelor of Business Administration in Business Management from Eastern Michigan University.
Jude Beres, Chief Financial Officer and Treasurer
Jude Beres has held the roles of Chief Financial Officer and Treasurer since March 2016. Prior to this, he served as the Company's Chief Administrative Officer from April 2015 to March 2016. Mr. Beres's career in finance and accounting within affiliated companies spans from 1997 to April 2015, including a position as Vice President of Finance and Accounting at Central Transport. He brings over 20 years of experience across the less-than-truckload, truckload, intermodal, and logistics sectors. He earned a Bachelor of Accountancy from Walsh College.
Matthew T. Moroun, Chairman of the Board
Matthew T. Moroun has served as a director and as the Chairman of Universal Logistics Holdings' Board of Directors since 2004. He is also a member of the company's Executive Committee and Compensation and Stock Option Committee. Mr. Moroun controls additional family-owned businesses involved in transportation, insurance, business services, and real estate development and management. He has been a director of P.A.M. Transportation Services, Inc. since 1992 and its chairman since 2007. The Moroun family maintains a significant controlling interest in Universal Logistics Holdings. He graduated from Dickson College in Pennsylvania with an economics degree in 1995.
Steven A. Fitzpatrick, Vice President of Finance & Investor Relations and Secretary
Steven A. Fitzpatrick serves as the Vice President of Finance & Investor Relations and Corporate Secretary for Universal Logistics Holdings. He has held these positions since at least October 2006.
AI Analysis | Feedback
Here are the key risks to the business of Universal Logistics (ULH):
- Customer Concentration and Automotive Sector Dependence: Universal Logistics relies heavily on a limited number of major customers, particularly within the automotive industry. Sales to the top 10 customers constituted approximately 56% of total operating revenues in 2024, with automotive customers representing about 45% of 2025 revenues, and General Motors alone accounting for roughly 25%. This concentration makes the company highly vulnerable to reductions in operations or the loss of any of these key customers, as well as to the cyclical nature of vehicle demand and potential factory labor disruptions.
- High Financial Leverage and Declining Profitability: The company faces significant financial risks due to its substantial debt burden and recent decline in profitability. As of June 30, 2025, Universal Logistics reported a total debt of $911.7 million, with total outstanding borrowings increasing to $802.3 million as of March 16, 2026. The debt-to-equity ratio is relatively high at 1.62, and its interest payments are not well covered by operating income. The company swung from a net income of $129.9 million in 2024 to a net loss of $99.9 million in 2025, accompanied by a 15.6% revenue decline. Specifically, the intermodal segment has experienced operating losses, contributing to the overall financial challenges. The company's Altman Z-Score of 1.6 places it in a distress zone, suggesting a potential risk of bankruptcy within the next two years.
- Driver Shortages and Regulatory Pressures: Universal Logistics, like the broader logistics industry, is significantly impacted by a persistent shortage of qualified commercial drivers. This shortage can lead to increased labor costs and constrained capacity, thereby negatively affecting service levels and efforts to recover margins. Additionally, regulatory pressures, such as California's Advanced Clean Fleets rules, pose a risk to the company's traditional owner-operator drayage model, necessitating a shift towards more capital-intensive company-owned zero-emission vehicles.
AI Analysis | Feedback
1. The emergence of **autonomous trucking technology** poses a significant threat to traditional transportation companies like Universal Logistics. As companies such as Waymo Via, TuSimple, and Aurora develop and test self-driving trucks, the potential for reduced operational costs (especially labor) and increased efficiency could disrupt the long-haul freight industry. If these technologies mature and are adopted by competitors or new market entrants, it could fundamentally alter the competitive landscape for carriers relying on human drivers.
2. The rise of **digital freight brokerage platforms** (e.g., Uber Freight, Convoy) threatens traditional logistics models. These technology-driven platforms leverage algorithms and mobile applications to connect shippers and carriers more efficiently, often offering transparent pricing, real-time tracking, and simplified booking processes. This can disintermediate traditional freight brokers and asset-based carriers that rely on more manual, less digitized processes, forcing them to adapt rapidly to maintain competitiveness in a rapidly evolving market.
AI Analysis | Feedback
Universal Logistics Holdings, Inc. (ULH) operates in several segments within the broader transportation and logistics industry, offering services that include truckload and less-than-truckload (LTL) transportation, intermodal, brokerage, dedicated contract carriage, and value-added logistics solutions like warehousing and material handling.
Here are the addressable market sizes for Universal Logistics' main products and services:
-
Freight Trucking (including Full Truckload and Less-Than-Truckload):
- The global freight trucking market was estimated at USD 3,232.28 billion in 2024 and is projected to grow to USD 5,164.38 billion by 2035, with a compound annual growth rate (CAGR) of 4.35% from 2025 to 2035.
- The North America road freight transport market is expected to increase from USD 660.24 billion in 2025 to USD 839.77 billion by 2031, growing at a CAGR of 4.11% from 2026-2031.
- Specifically, the global full truckload (FTL) road freight transport market is projected to reach USD 1.5 trillion in 2025 and USD 2 trillion by 2034, exhibiting a CAGR of 3.7%. North America is the largest market for FTL.
- The global less-than-truckload (LTL) market is projected to be valued at approximately USD 81.3 billion in 2024 and is expected to reach USD 117.8 billion by 2030, with a CAGR of 5.4%. The LTL market in North America is projected to grow at a CAGR of 4.5% from 2024 to 2030.
-
Intermodal Transportation:
- The global intermodal freight transportation market was valued at USD 136.7 billion in 2025 and is projected to reach USD 283.4 billion by 2034, growing at a CAGR of 9.5%. North America dominated this market with a share of 40.38% in 2025.
- The North America intermodal freight transportation market generated a revenue of USD 15,278.8 million in 2023 and is expected to reach USD 31,588.0 million by 2030, with a CAGR of 10.9% from 2024 to 2030.
- The North American intermodal freight market has an estimated value of $51 billion.
-
Warehousing and Distribution Logistics (Value-Added Services):
- The global warehousing market generated a revenue of USD 1,079.8 billion in 2024 and is expected to reach USD 1,726.7 billion by 2030, with a CAGR of 8.1% from 2025 to 2030. North America was the largest revenue-generating market in 2024, accounting for 31.0% of the global warehousing market.
- The global warehousing and storage market size was valued at USD 542.2 billion in 2025 and is estimated to reach USD 728.7 billion by 2034, exhibiting a CAGR of 3.20% during 2026-2034.
- The global warehousing & distribution logistics market size was worth around USD 14.23 billion in 2024 and is predicted to grow to around USD 33.40 billion by 2035 with a CAGR of 8.07% from 2025 to 2035.
-
Freight Forwarding (related to Brokerage services):
- The global freight forwarding market size was valued at USD 164.8 billion in 2024 and is projected to reach USD 255.6 billion by 2033, growing at a CAGR of 5.2% during the forecast period (2025-2033).
- Another estimate places the global freight forwarding market size at USD 216.47 billion in 2024, projected to reach USD 285.60 billion by 2030, growing at a CAGR of 4.9% from 2025 to 2030.
- The global freight forwarding market is projected to reach USD 369.7 billion by 2035 from USD 224.8 billion in 2025, growing at a CAGR of 5.1% from 2026 to 2035.
- Asia Pacific dominates the global freight forwarding market with a 33.1% share in 2024. North America is also a significant region.
AI Analysis | Feedback
- Expansion and Growth in Higher-Margin Contract Logistics Services: Universal Logistics anticipates continued growth in its contract logistics segment, which is highlighted as its most profitable division. The company aims to expand its higher-margin services within this segment, including scaling sub-assembly, sequencing, and other value-added services, which support long-term OEM contracts and reduce reliance on spot domestic freight. This segment is projected to grow by 9 percent in 2025.
- Strategic Expansion in Nearshoring and Cross-Border Trade (Mexico-U.S.): The company is strategically prioritizing expansion in key Mexican regions like Monterrey and Queretaro to capitalize on the increasing Mexico-U.S. trade flows driven by nearshoring trends. Additionally, Universal Logistics is investing in the Southeast U.S. to align its contract logistics with the growing electric vehicle (EV) manufacturing corridor.
- Recovery of Intermodal and Drayage Volumes and Profitability: Universal Logistics expects a recovery in intermodal volumes, which is projected to contribute to a 5 percent year-over-year increase in drayage revenue for 2025. The company is also targeting a return to profitability in its intermodal segment by the end of 2025.
- Strategic Acquisitions and Integration for Enhanced Capabilities: Recent strategic acquisitions, such as Parsec in September 2024, have significantly strengthened the company's contract logistics segment by adding rail terminal operations. Universal Logistics plans further targeted mergers and acquisitions in intermodal and drayage to consolidate its presence in strategic locations like Savannah and Houston, aiming to deliver seamless end-to-end logistics solutions.
- Diversification of Customer Base and Service Offerings: To reduce its reliance on the automotive sector, which accounts for nearly 40 percent of its revenue, Universal Logistics is expanding its service offerings and customer base into new verticals. This includes growth in aerospace and retail sectors, as well as focusing on specialized freight opportunities such as the wind energy sector and other heavy haul services across various industries.
AI Analysis | Feedback
Capital Allocation Decisions for Universal Logistics (ULH)
Share Repurchases
- Universal Logistics Holdings' annual share buybacks totaled $107,000 in 2024.
- The trailing twelve months (TTM) annual share buybacks for ULH stock were $28,333.
Outbound Investments
- Universal Logistics acquired Parsec for approximately $194,000,000, which helped shift the company towards specialized terminal and intermodal services.
- In the second quarter of 2025, Universal's operating revenues included $55.0 million attributable to the acquisition of Parsec.
Capital Expenditures
- For the full year 2025, Universal Logistics projected capital expenditures between $100 million and $125 million for equipment and $55 million to $65 million for real estate.
- The company committed $220 million for two major contract logistics projects slated for Q1 2025 launches, and an additional $70 million was allocated for strategic real estate acquisitions and facility upgrades in 2025.
- Capital expenditures in Q4 2025 amounted to $32.9 million, with Q2 2025 expenditures totaling $84.3 million and Q1 2025 at $52.6 million.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 107.71 |
| Mkt Cap | 14.3 |
| Rev LTM | 8,151 |
| Op Inc LTM | 566 |
| FCF LTM | 567 |
| FCF 3Y Avg | 130 |
| CFO LTM | 887 |
| CFO 3Y Avg | 789 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.7% |
| Rev Chg 3Y Avg | -1.7% |
| Rev Chg Q | 12.9% |
| QoQ Delta Rev Chg LTM | 3.2% |
| Op Inc Chg LTM | 3.4% |
| Op Inc Chg 3Y Avg | -5.1% |
| Op Mgn LTM | 4.4% |
| Op Mgn 3Y Avg | 5.6% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 11.7% |
| CFO/Rev 3Y Avg | 11.5% |
| FCF/Rev LTM | 5.2% |
| FCF/Rev 3Y Avg | 2.0% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Contract logistics | 1,049 | 1,130 | 830 | 824 | 627 |
| Intermodal | 257 | 309 | 383 | 592 | 473 |
| Trucking | 251 | 332 | 333 | 393 | 403 |
| Other | 0 | 76 | 117 | 6 | 5 |
| Company-managed brokerage | 201 | 243 | |||
| Total | 1,558 | 1,846 | 1,662 | 2,015 | 1,751 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Contract logistics | 83 | 219 | 128 | 118 | 45 |
| Trucking | 14 | 21 | 17 | 28 | 20 |
| Other | 1 | -9 | -1 | 1 | 1 |
| Intermodal | -162 | -28 | 2 | 84 | 30 |
| Company-managed brokerage | 10 | 7 | |||
| Total | -64 | 203 | 145 | 240 | 103 |
| $ Mil | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|
| Transportation | 619 | 526 | 292 | 252 | 220 |
| Logistics | 349 | 298 | 294 | 292 | 254 |
| Other | 20 | 19 | 25 | 26 | 37 |
| Total | 988 | 843 | 611 | 570 | 511 |
Price Behavior
| Market Price | $18.21 | |
| Market Cap ($ Bil) | 0.5 | |
| First Trading Date | 12/29/2006 | |
| Distance from 52W High | -31.3% | |
| 50 Days | 200 Days | |
| DMA Price | $15.45 | $16.64 |
| DMA Trend | down | down |
| Distance from DMA | 17.8% | 9.5% |
| 3M | 1YR | |
| Volatility | 113.7% | 87.9% |
| Downside Capture | 10.71 | 226.30 |
| Upside Capture | 61.85 | 151.93 |
| Correlation (SPY) | 5.6% | 27.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -1.73 | -0.30 | 0.41 | 1.24 | 1.70 | 1.37 |
| Up Beta | -0.86 | -1.24 | 0.69 | 0.74 | 1.56 | 1.57 |
| Down Beta | 0.70 | 1.58 | 0.07 | 1.44 | 1.73 | 0.76 |
| Up Capture | -315% | -118% | -82% | 107% | 130% | 183% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 12 | 22 | 32 | 71 | 129 | 364 |
| Down Capture | -232% | -28% | 171% | 147% | 158% | 110% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 9 | 20 | 30 | 54 | 122 | 385 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ULH | |
|---|---|---|---|---|
| ULH | -22.2% | 87.7% | 0.10 | - |
| Sector ETF (XLI) | 21.8% | 17.0% | 0.99 | 37.5% |
| Equity (SPY) | 21.0% | 12.9% | 1.20 | 29.2% |
| Gold (GLD) | 22.8% | 28.1% | 0.72 | -0.3% |
| Commodities (DBC) | 28.8% | 19.7% | 1.16 | -18.0% |
| Real Estate (VNQ) | 15.5% | 13.8% | 0.80 | 28.4% |
| Bitcoin (BTCUSD) | -45.9% | 43.1% | -1.30 | 14.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ULH | |
|---|---|---|---|---|
| ULH | -2.1% | 59.6% | 0.20 | - |
| Sector ETF (XLI) | 13.7% | 17.6% | 0.61 | 39.6% |
| Equity (SPY) | 12.9% | 17.2% | 0.58 | 32.7% |
| Gold (GLD) | 17.2% | 18.5% | 0.75 | 1.5% |
| Commodities (DBC) | 8.4% | 19.5% | 0.32 | 3.8% |
| Real Estate (VNQ) | 2.5% | 18.9% | 0.03 | 27.8% |
| Bitcoin (BTCUSD) | 11.0% | 53.1% | 0.39 | 13.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ULH | |
|---|---|---|---|---|
| ULH | 4.3% | 51.1% | 0.28 | - |
| Sector ETF (XLI) | 14.1% | 20.0% | 0.62 | 44.0% |
| Equity (SPY) | 15.1% | 17.9% | 0.72 | 38.5% |
| Gold (GLD) | 11.4% | 16.1% | 0.58 | 1.4% |
| Commodities (DBC) | 7.1% | 18.0% | 0.31 | 10.5% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | 32.5% |
| Bitcoin (BTCUSD) | 58.0% | 66.2% | 0.98 | 11.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 8/4/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/31/2026 | 36.1% | ||
| 5/1/2026 | -28.0% | -41.8% | -25.3% |
| 3/13/2026 | 9.8% | 22.0% | 44.6% |
| 7/24/2025 | 9.9% | -12.6% | -0.9% |
| 4/24/2025 | -4.8% | -16.5% | -14.1% |
| 2/6/2025 | -19.6% | -33.6% | -36.3% |
| 10/24/2024 | -10.9% | -3.2% | 16.1% |
| 7/25/2024 | -4.4% | -8.5% | -6.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 11 | 13 |
| # Negative | 12 | 11 | 9 |
| Median Positive | 7.7% | 6.8% | 13.0% |
| Median Negative | -5.1% | -8.5% | -13.8% |
| Max Positive | 39.4% | 33.6% | 44.6% |
| Max Negative | -28.0% | -41.8% | -36.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/31/2026 | 36.1% | ||
| 5/1/2026 | -28.0% | -41.8% | -25.3% |
| 3/13/2026 | 9.8% | 22.0% | 44.6% |
| 7/24/2025 | 9.9% | -12.6% | -0.9% |
| 4/24/2025 | -4.8% | -16.5% | -14.1% |
| 2/6/2025 | -19.6% | -33.6% | -36.3% |
| 10/24/2024 | -10.9% | -3.2% | 16.1% |
| 7/25/2024 | -4.4% | -8.5% | -6.7% |
| 4/25/2024 | 39.4% | 33.6% | 39.0% |
| 2/15/2024 | 4.4% | 3.6% | 5.8% |
| 10/26/2023 | -5.3% | 1.8% | 10.7% |
| 7/27/2023 | -3.4% | 1.6% | -13.8% |
| 4/27/2023 | -2.8% | -5.2% | 4.1% |
| 2/9/2023 | -21.3% | -23.4% | -34.5% |
| 10/27/2022 | -6.4% | -6.7% | 2.3% |
| 7/28/2022 | 5.1% | 25.9% | 31.4% |
| 5/5/2022 | 9.0% | 8.4% | 43.2% |
| 2/10/2022 | 7.7% | 6.8% | 28.4% |
| 10/28/2021 | -3.0% | -4.0% | -12.3% |
| 7/29/2021 | 0.7% | -6.6% | -3.0% |
| 4/30/2021 | 1.6% | 4.6% | 4.3% |
| 2/4/2021 | 2.3% | 5.2% | 13.0% |
| 10/29/2020 | -1.5% | 9.7% | 7.4% |
| SUMMARY STATS | |||
| # Positive | 11 | 11 | 13 |
| # Negative | 12 | 11 | 9 |
| Median Positive | 7.7% | 6.8% | 13.0% |
| Median Negative | -5.1% | -8.5% | -13.8% |
| Max Positive | 39.4% | 33.6% | 44.6% |
| Max Negative | -28.0% | -41.8% | -36.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 03/16/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/17/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/15/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 03/16/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/17/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/15/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| 03/31/2022 | 05/12/2022 | 10-Q |
| 12/31/2021 | 03/16/2022 | 10-K |
| 09/30/2021 | 11/12/2021 | 10-Q |
| 06/30/2021 | 08/12/2021 | 10-Q |
| 03/31/2021 | 05/13/2021 | 10-Q |
| 12/31/2020 | 03/16/2021 | 10-K |
| 09/30/2020 | 11/12/2020 | 10-Q |
| 06/30/2020 | 08/13/2020 | 10-Q |
| 03/31/2020 | 05/14/2020 | 10-Q |
| 12/31/2019 | 03/16/2020 | 10-K |
| 09/30/2019 | 11/07/2019 | 10-Q |
| 06/30/2019 | 08/08/2019 | 10-Q |
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Cargo Ground Transportation Resources |
| Transport Topics |
| Commercial Carrier Journal (CCJ) |
| FreightWaves |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.