Universal Logistics (ULH)
Market Price (11/5/2026): $32.72 | Market Cap: $862.8 MilSector: Industrials | Industry: Cargo Ground Transportation
Universal Logistics (ULH)
Market Price (11/5/2026): $32.72Market Cap: $862.8 MilSector: IndustrialsIndustry: Cargo Ground Transportation
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, E-commerce & DTC Adoption, and Future of Freight. Themes include Last-Mile Delivery, Show more. | Trading close to highsDist 52W High is 0.0% Weak multi-year price returns2Y Excs Rtn is -48%, 3Y Excs Rtn is -24% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 97% Stock price has recently run up significantly6M Rtn6 month market price return is 164%, 12M Rtn12 month market price return is 105% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.5%, Rev Chg QQuarterly Revenue Change % is -3.7% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 53% 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 -14% Key risksULH key risks include [1] its heavy customer concentration and reliance on the automotive industry and [2] a substantial debt burden. |
| Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, E-commerce & DTC Adoption, and Future of Freight. Themes include Last-Mile Delivery, Show more. |
| Trading close to highsDist 52W High is 0.0% |
| Weak multi-year price returns2Y Excs Rtn is -48%, 3Y Excs Rtn is -24% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 97% |
| Stock price has recently run up significantly6M Rtn6 month market price return is 164%, 12M Rtn12 month market price return is 105% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.5%, Rev Chg QQuarterly Revenue Change % is -3.7% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 53% |
| 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 -14% |
| Key risksULH key risks include [1] its heavy customer concentration and reliance on the automotive industry and [2] a substantial debt burden. |
Qualitative Assessment
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Universal Logistics (ULH) stock has gained about 145% since 7/31/2026 because of the following key factors:
1. Universal Logistics Holdings (ULH) reported exceptionally strong fiscal Q3 2026 earnings, significantly surpassing analyst expectations. The company announced adjusted earnings per share (EPS) of $0.69 for the third quarter ended October 3, 2026, which dramatically beat consensus estimates of $0.32 by 115.62%. Additionally, revenue for the quarter reached $394.05 million, exceeding analysts' projections of $390 million.
2. The company achieved a substantial return to profitability in fiscal Q3 2026, reversing a significant prior-year loss. Universal Logistics recorded a net income of $18.14 million for the fiscal Q3 2026, a stark improvement from a net loss of $117.94 million in the comparable fiscal Q3 2025. This turnaround was notably impacted by the prior year's results including $124.4 million in non-cash impairment charges. The company also demonstrated an improved operating income of $32.8 million, resulting in an 8.3% operating margin.
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Universal Logistics (ULH) stock has gained about 145% since 7/31/2026 because of the following key factors:
1. Universal Logistics Holdings (ULH) reported exceptionally strong fiscal Q3 2026 earnings, significantly surpassing analyst expectations. The company announced adjusted earnings per share (EPS) of $0.69 for the third quarter ended October 3, 2026, which dramatically beat consensus estimates of $0.32 by 115.62%. Additionally, revenue for the quarter reached $394.05 million, exceeding analysts' projections of $390 million.
2. The company achieved a substantial return to profitability in fiscal Q3 2026, reversing a significant prior-year loss. Universal Logistics recorded a net income of $18.14 million for the fiscal Q3 2026, a stark improvement from a net loss of $117.94 million in the comparable fiscal Q3 2025. This turnaround was notably impacted by the prior year's results including $124.4 million in non-cash impairment charges. The company also demonstrated an improved operating income of $32.8 million, resulting in an 8.3% operating margin.
3. ULH strengthened its financial position through significant debt reduction and an extended credit facility. As of October 3, 2026, the company's net debt declined by approximately $119.5 million from year-end, reaching $678.1 million. Furthermore, Universal Logistics successfully reduced its aggregate revolving credit commitments from $500.0 million to $350.0 million and extended the commitment period through September 30, 2029, signaling enhanced financial health and liquidity.
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Stock Movement Drivers
Fundamental Drivers
The 145.9% change in ULH stock from 7/31/2026 to 11/4/2026 was primarily driven by a 148.4% change in the company's P/S Multiple.| (LTM values as of) | 7312026 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.30 | 32.72 | 145.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,544 | 1,529 | -0.9% |
| P/S Multiple | 0.2 | 0.6 | 148.4% |
| Shares Outstanding (Mil) | 26 | 26 | -0.1% |
| Cumulative Contribution | 145.9% |
Market Drivers
7/31/2026 to 11/4/2026| Return | Correlation | |
|---|---|---|
| ULH | 145.9% | |
| Market (SPY) | 2.6% | 0.7% |
| Sector (XLI) | -5.8% | 23.6% |
Fundamental Drivers
The 37.6% change in ULH stock from 4/30/2026 to 11/4/2026 was primarily driven by a 40.4% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 23.79 | 32.72 | 37.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,558 | 1,529 | -1.9% |
| P/S Multiple | 0.4 | 0.6 | 40.4% |
| Shares Outstanding (Mil) | 26 | 26 | -0.1% |
| Cumulative Contribution | 37.6% |
Market Drivers
4/30/2026 to 11/4/2026| Return | Correlation | |
|---|---|---|
| ULH | 37.6% | |
| Market (SPY) | 7.0% | 2.5% |
| Sector (XLI) | -2.7% | 19.4% |
Fundamental Drivers
The 107.4% change in ULH stock from 10/31/2025 to 11/4/2026 was primarily driven by a 126.6% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.78 | 32.72 | 107.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,668 | 1,529 | -8.3% |
| P/S Multiple | 0.2 | 0.6 | 126.6% |
| Shares Outstanding (Mil) | 26 | 26 | -0.1% |
| Cumulative Contribution | 107.4% |
Market Drivers
10/31/2025 to 11/4/2026| Return | Correlation | |
|---|---|---|
| ULH | 107.4% | |
| Market (SPY) | 13.4% | 15.9% |
| Sector (XLI) | 10.2% | 28.6% |
Fundamental Drivers
The 54.0% change in ULH stock from 10/31/2023 to 11/4/2026 was primarily driven by a 83.3% change in the company's P/S Multiple.| (LTM values as of) | 10312023 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.25 | 32.72 | 54.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,814 | 1,529 | -15.7% |
| P/S Multiple | 0.3 | 0.6 | 83.3% |
| Shares Outstanding (Mil) | 26 | 26 | -0.3% |
| Cumulative Contribution | 54.0% |
Market Drivers
10/31/2023 to 11/4/2026| Return | Correlation | |
|---|---|---|
| ULH | 54.0% | |
| Market (SPY) | 89.7% | 27.6% |
| Sector (XLI) | 79.2% | 35.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ULH Return | -7% | 81% | -15% | 66% | -66% | 119% | 76% |
| Peers Return | 31% | -16% | 39% | 14% | 14% | 15% | 128% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| ULH Win Rate | 42% | 67% | 50% | 58% | 33% | 64% | |
| Peers Win Rate | 63% | 40% | 55% | 48% | 63% | 49% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| ULH Max Drawdown | -34% | -24% | -51% | -24% | -72% | -51% | |
| Peers Max Drawdown | -17% | -31% | -27% | -23% | -32% | -28% | |
| 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 11/4/2026 (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.
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| 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.
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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.
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- 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.
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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)
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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.
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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.
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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.
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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.
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- 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.
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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.
Peer Outperformance in Cargo Ground Transportation
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 29 | -12.8% | 78.4% | 144.7% | FIX 1084% · STRL 944% · AGX 620% |
| Marine Transportation | 5 | 28.7% | 38.5% | 123.2% | MATX 149% · KEX 123% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 12.2% | 58.9% | 107.9% | ALSN 278% · WAB 230% · CAT 216% |
| Aerospace & Defense | 54 | -7.4% | 61.7% | 59.6% | ATI 980% · FTAI 885% · HWM 598% |
| Industrial Machinery & Supplies & Components | 71 | 6.3% | 50.5% | 38.7% | CRS 887% · MLI 333% · SYM 274% |
| Trading Companies & Distributors | 19 | 17.2% | 41.9% | 38.4% | DXPE 356% · AIT 215% · URI 202% |
| Rail Transportation | 7 | 37.9% | 59.1% | 33.8% | CSX 57% · UNP 46% · NSC 34% |
| Diversified Support Services | 33 | 21.0% | 37.1% | 28.3% | CXW 235% · OPLN 162% · CACI 120% |
| Building Products | 34 | -3.2% | 12.5% | 21.7% | MOD 793% · GFF 380% · TT 142% |
| Cargo Ground Transportation ← | 16 | 33.7% | 17.8% | 7.7% | XPO 276% · R 265% · ARCB 26% |
| Office Services & Supplies | 10 | 29.7% | 26.2% | 3.1% | TILE 170% · PBI 166% · HNI 48% |
| Industrial Conglomerates | 17 | 23.0% | -3.6% | 1.0% | CSW 125% · CSL 83% · DD 74% |
| Electrical Components & Equipment | 39 | -5.2% | 68.2% | -2.8% | POWL 1633% · VRT 667% · BE 564% |
| Data Processing & Outsourced Services | 6 | -14.9% | 3.1% | -12.6% | EXLS 60% · BR 21% · MMS -12% |
| Security & Alarm Services | 9 | -49.8% | 13.7% | -19.8% | BCO 70% |
| Research & Consulting Services | 13 | 4.9% | -16.9% | -20.8% | HURN 224% · FCN 35% · BAH 11% |
| Agricultural & Farm Machinery | 16 | 17.3% | -6.1% | -21.8% | BLBD 184% · DE 106% · TTC 19% |
| Environmental & Facilities Services | 29 | -29.1% | 25.0% | -25.8% | GEO 210% · CLH 173% · RSG 96% |
| Passenger Airlines | 11 | 10.5% | 55.1% | -28.2% | LTM 3048% · UAL 136% · DAL 126% |
| Air Freight & Logistics | 12 | -23.0% | -5.0% | -37.3% | FDX 86% · EXPD 60% · CHRW 57% |
| Human Resource & Employment Services | 22 | 21.6% | -6.2% | -42.7% | ADP 50% · FA 22% · PAYX 13% |
| Passenger Ground Transportation | 3 | -13.2% | 46.3% | -53.7% | UBER 54% · CAR -54% · LYFT -62% |
| Airport Services | 4 | -48.6% | -62.5% | -86.1% | JOBY -48% |
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 97.36 |
| Mkt Cap | 12.9 |
| Rev LTM | 8,419 |
| Op Inc LTM | 638 |
| FCF LTM | 562 |
| FCF 3Y Avg | 181 |
| CFO LTM | 861 |
| CFO 3Y Avg | 812 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.3% |
| Rev Chg 3Y Avg | 1.2% |
| Rev Chg Q | 13.3% |
| QoQ Delta Rev Chg LTM | 3.3% |
| Op Inc Chg LTM | 16.3% |
| Op Inc Chg 3Y Avg | 2.7% |
| Op Mgn LTM | 4.9% |
| Op Mgn 3Y Avg | 5.6% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 10.6% |
| CFO/Rev 3Y Avg | 11.6% |
| FCF/Rev LTM | 5.1% |
| FCF/Rev 3Y Avg | 2.6% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Contract logistics | 1,049 | 1,130 | 830 | 824 | 627 |
| Intermodal | 257 | 309 | 383 | 623 | 473 |
| Trucking | 251 | 332 | 333 | 393 | 403 |
| Other | 0 | 76 | 117 | 176 | 5 |
| Company-managed brokerage | 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 | 9 | 1 |
| Intermodal | -162 | -28 | 2 | 85 | 30 |
| Company-managed brokerage | 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 | $32.72 | |
| Market Cap ($ Bil) | 0.9 | |
| First Trading Date | 12/29/2006 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $18.50 | $17.46 |
| DMA Trend | up | up |
| Distance from DMA | 76.9% | 87.4% |
| 3M | 1YR | |
| Volatility | 92.6% | 94.6% |
| Downside Capture | -222.09 | 116.35 |
| Upside Capture | 122.67 | 189.20 |
| Correlation (S&P 500) | -27.1% | 16.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -4.66 | -3.09 | 0.37 | 0.36 | 1.23 | 1.34 |
| Up Beta | -4.32 | -3.14 | 5.73 | 2.17 | 1.30 | 1.66 |
| Down Beta | -10.40 | -9.07 | -8.67 | -2.42 | 0.03 | 0.56 |
| Up Capture | 21% | -46% | 298% | 70% | 239% | 271% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 12 | 20 | 30 | 62 | 131 | 368 |
| Down Capture | -440% | -237% | -48% | 81% | 128% | 111% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 10 | 23 | 34 | 63 | 119 | 380 |
[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 | 109.8% | 94.6% | 1.19 | - |
| Sector ETF (XLI) | 10.8% | 17.4% | 0.42 | 28.5% |
| Equity (SPY) | 13.2% | 12.9% | 0.68 | 15.9% |
| Gold (GLD) | 1.0% | 28.8% | 0.03 | -4.4% |
| Commodities (DBC) | 35.9% | 21.2% | 1.34 | -25.0% |
| Real Estate (VNQ) | 14.3% | 14.1% | 0.70 | 22.5% |
| Bitcoin (BTCUSD) | -28.2% | 43.4% | -0.65 | 6.0% |
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 | 10.7% | 62.9% | 0.41 | - |
| Sector ETF (XLI) | 12.1% | 17.6% | 0.51 | 37.0% |
| Equity (SPY) | 12.5% | 17.2% | 0.55 | 29.5% |
| Gold (GLD) | 17.3% | 19.1% | 0.73 | -0.6% |
| Commodities (DBC) | 8.0% | 19.6% | 0.29 | -0.1% |
| Real Estate (VNQ) | 1.8% | 18.9% | -0.01 | 26.8% |
| Bitcoin (BTCUSD) | 5.5% | 51.5% | 0.29 | 12.0% |
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 | 12.2% | 53.1% | 0.42 | - |
| Sector ETF (XLI) | 13.4% | 20.1% | 0.58 | 42.3% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 36.2% |
| Gold (GLD) | 11.9% | 16.5% | 0.59 | 0.2% |
| Commodities (DBC) | 7.4% | 18.1% | 0.33 | 8.1% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.23 | 31.5% |
| Bitcoin (BTCUSD) | 61.0% | 66.2% | 1.01 | 10.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 11/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/29/2026 | 29.7% | ||
| 7/31/2026 | 36.1% | 50.0% | 39.6% |
| 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% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 11 | 13 |
| # Negative | 11 | 11 | 9 |
| Median Positive | 8.4% | 6.8% | 16.1% |
| Median Negative | -5.3% | -8.5% | -13.8% |
| Max Positive | 39.4% | 50.0% | 44.6% |
| Max Negative | -28.0% | -41.8% | -36.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/29/2026 | 29.7% | ||
| 7/31/2026 | 36.1% | 50.0% | 39.6% |
| 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% |
| SUMMARY STATS | |||
| # Positive | 12 | 11 | 13 |
| # Negative | 11 | 11 | 9 |
| Median Positive | 8.4% | 6.8% | 16.1% |
| Median Negative | -5.3% | -8.5% | -13.8% |
| Max Positive | 39.4% | 50.0% | 44.6% |
| Max Negative | -28.0% | -41.8% | -36.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/13/2026 | 10-Q |
| 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 |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/13/2026 | 10-Q |
| 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 |
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 |
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