Universal (UVV)
Market Price (6/19/2026): $52.1 | Market Cap: $1.3 BilSector: Consumer Staples | Industry: Tobacco
Universal (UVV)
Market Price (6/19/2026): $52.1Market Cap: $1.3 BilSector: Consumer StaplesIndustry: Tobacco
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.7%, Dividend Yield is 6.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.4%, FCF Yield is 6.1% Low stock price volatilityVol 12M is 24% Megatrend and thematic driversMegatrends include Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Nutritional Supplements, Organic & Natural Products, Show more. | Weak multi-year price returns2Y Excs Rtn is -11%, 3Y Excs Rtn is -47% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 67% Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 40x Key risksUVV key risks include [1] high dependence on a few major customers who account for half its tobacco revenue and [2] internal control challenges highlighted by an alleged embezzlement at a foreign subsidiary. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.7%, Dividend Yield is 6.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.4%, FCF Yield is 6.1% |
| Low stock price volatilityVol 12M is 24% |
| Megatrend and thematic driversMegatrends include Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Nutritional Supplements, Organic & Natural Products, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -11%, 3Y Excs Rtn is -47% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 67% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 40x |
| Key risksUVV key risks include [1] high dependence on a few major customers who account for half its tobacco revenue and [2] internal control challenges highlighted by an alleged embezzlement at a foreign subsidiary. |
Qualitative Assessment
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Universal (UVV) stock has remained largely at the same level since 2/28/2026 because of the following key factors:
1. Mixed Fiscal Year 2026 Financial Results with Impairment Charges.
Universal Corporation reported slightly declining overall sales for fiscal year 2026, with revenue of $2.924 billion, a 1% decrease from 2025. This was primarily driven by a 1% decline in tobacco operations revenue, stemming from a 2% decrease in sales volumes and prices. The company also recorded a non-cash goodwill impairment charge of $41.1 million related to its Universal Ingredients-Shank's operation and increased tobacco inventory write-downs, which negatively impacted overall financial performance and likely offset potential positive sentiment.
2. Consistent Dividend Growth Signaling Shareholder Value.
The company demonstrated a commitment to shareholder returns by announcing its 56th consecutive annual dividend increase on May 19, 2026. The quarterly dividend was raised from $0.82 to $0.83 per share, payable August 3, 2026, representing an annualized rate of $3.32 per common share. This stability and growth in dividends can support investor confidence and help keep the stock price from significant declines, especially for income-focused investors.
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Universal (UVV) stock has remained largely at the same level since 2/28/2026 because of the following key factors:
1. Mixed Fiscal Year 2026 Financial Results with Impairment Charges.
Universal Corporation reported slightly declining overall sales for fiscal year 2026, with revenue of $2.924 billion, a 1% decrease from 2025. This was primarily driven by a 1% decline in tobacco operations revenue, stemming from a 2% decrease in sales volumes and prices. The company also recorded a non-cash goodwill impairment charge of $41.1 million related to its Universal Ingredients-Shank's operation and increased tobacco inventory write-downs, which negatively impacted overall financial performance and likely offset potential positive sentiment.
2. Consistent Dividend Growth Signaling Shareholder Value.
The company demonstrated a commitment to shareholder returns by announcing its 56th consecutive annual dividend increase on May 19, 2026. The quarterly dividend was raised from $0.82 to $0.83 per share, payable August 3, 2026, representing an annualized rate of $3.32 per common share. This stability and growth in dividends can support investor confidence and help keep the stock price from significant declines, especially for income-focused investors.
3. Evolving Global Tobacco Market Dynamics with Oversupply Concerns.
While the global tobacco market is projected to grow at a Compound Annual Growth Rate (CAGR) of 2.74% from 2026 to 2035, Universal's tobacco operations faced specific headwinds. The company noted evolving market dynamics towards oversupply in some tobacco styles, such as flue-cured, burley, and oriental tobaccos, which contributed to lower sales volumes and prices for Universal's tobacco segment.
4. Ingredients Segment Growth Tempered by Market Headwinds and Higher Costs.
The Ingredients Operations segment showed some positive momentum with a 3% revenue increase to $348 million for fiscal year 2026. However, this growth was tempered by persistent market headwinds, a less favorable product mix, certain demand curtailment due to tariff uncertainty, and higher fixed costs associated with expanded production facilities. These mixed results in a key diversification segment prevented it from providing a strong upward catalyst for the stock price during the period.
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Stock Movement Drivers
Fundamental Drivers
The -1.4% change in UVV stock from 2/28/2026 to 6/18/2026 was primarily driven by a -61.9% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 52.89 | 52.16 | -1.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,912 | 2,924 | 0.4% |
| Net Income Margin (%) | 2.9% | 1.1% | -61.9% |
| P/E Multiple | 15.5 | 40.0 | 157.6% |
| Shares Outstanding (Mil) | 25 | 25 | 0.0% |
| Cumulative Contribution | -1.4% |
Market Drivers
2/28/2026 to 6/18/2026| Return | Correlation | |
|---|---|---|
| UVV | -1.4% | |
| Market (SPY) | 9.2% | -5.1% |
| Sector (XLP) | -6.9% | 40.0% |
Fundamental Drivers
The 2.0% change in UVV stock from 11/30/2025 to 6/18/2026 was primarily driven by a 249.1% change in the company's P/E Multiple.| (LTM values as of) | 11302025 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 51.15 | 52.16 | 2.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,987 | 2,924 | -2.1% |
| Net Income Margin (%) | 3.7% | 1.1% | -70.1% |
| P/E Multiple | 11.5 | 40.0 | 249.1% |
| Shares Outstanding (Mil) | 25 | 25 | -0.1% |
| Cumulative Contribution | 2.0% |
Market Drivers
11/30/2025 to 6/18/2026| Return | Correlation | |
|---|---|---|
| UVV | 2.0% | |
| Market (SPY) | 9.9% | -8.3% |
| Sector (XLP) | 6.4% | 38.0% |
Fundamental Drivers
The -15.3% change in UVV stock from 5/31/2025 to 6/18/2026 was primarily driven by a -65.4% change in the company's Net Income Margin (%).| (LTM values as of) | 5312025 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 61.55 | 52.16 | -15.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,947 | 2,924 | -0.8% |
| Net Income Margin (%) | 3.2% | 1.1% | -65.4% |
| P/E Multiple | 16.2 | 40.0 | 147.5% |
| Shares Outstanding (Mil) | 25 | 25 | -0.3% |
| Cumulative Contribution | -15.3% |
Market Drivers
5/31/2025 to 6/18/2026| Return | Correlation | |
|---|---|---|
| UVV | -15.3% | |
| Market (SPY) | 28.1% | -4.9% |
| Sector (XLP) | 3.3% | 32.8% |
Fundamental Drivers
The 21.9% change in UVV stock from 5/31/2023 to 6/18/2026 was primarily driven by a 368.8% change in the company's P/E Multiple.| (LTM values as of) | 5312023 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 42.77 | 52.16 | 21.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,570 | 2,924 | 13.8% |
| Net Income Margin (%) | 4.8% | 1.1% | -76.9% |
| P/E Multiple | 8.5 | 40.0 | 368.8% |
| Shares Outstanding (Mil) | 25 | 25 | -1.1% |
| Cumulative Contribution | 21.9% |
Market Drivers
5/31/2023 to 6/18/2026| Return | Correlation | |
|---|---|---|
| UVV | 21.9% | |
| Market (SPY) | 85.7% | 14.0% |
| Sector (XLP) | 24.4% | 35.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| UVV Return | 20% | 2% | 36% | -13% | 2% | 3% | 51% |
| Peers Return | 38% | -7% | -2% | 6% | 3% | 13% | 54% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| UVV Win Rate | 33% | 50% | 50% | 50% | 50% | 50% | |
| Peers Win Rate | 75% | 48% | 48% | 45% | 50% | 53% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| UVV Max Drawdown | -21% | -29% | -16% | -30% | -21% | -13% | |
| Peers Max Drawdown | -15% | -31% | -28% | -17% | -24% | -16% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: INGR, ADM, IFF, SXT, BCPC.
[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 6/18/2026 (YTD)
How Low Can It Go
| Event | UVV | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -17.0% | -24.5% |
| % Gain to Breakeven | 20.4% | 32.4% |
| Time to Breakeven | 28 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -22.2% | -33.7% |
| % Gain to Breakeven | 28.5% | 50.9% |
| Time to Breakeven | 37 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -16.4% | -19.2% |
| % Gain to Breakeven | 19.6% | 23.8% |
| Time to Breakeven | 801 days | 105 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -26.1% | -6.8% |
| % Gain to Breakeven | 35.4% | 7.3% |
| Time to Breakeven | 182 days | 15 days |
| 2013 Taper Tantrum | ||
| % Loss | -12.7% | -0.2% |
| % Gain to Breakeven | 14.5% | 0.2% |
| Time to Breakeven | 174 days | 1 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -30.0% | -15.4% |
| % Gain to Breakeven | 42.8% | 18.2% |
| Time to Breakeven | 838 days | 125 days |
In The Past
Universal's stock fell -3.0% during the 2025 US Tariff Shock. Such a loss loss requires a 3.1% gain to breakeven.
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| Event | UVV | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -22.2% | -33.7% |
| % Gain to Breakeven | 28.5% | 50.9% |
| Time to Breakeven | 37 days | 140 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -26.1% | -6.8% |
| % Gain to Breakeven | 35.4% | 7.3% |
| Time to Breakeven | 182 days | 15 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -30.0% | -15.4% |
| % Gain to Breakeven | 42.8% | 18.2% |
| Time to Breakeven | 838 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -48.4% | -53.4% |
| % Gain to Breakeven | 93.8% | 114.4% |
| Time to Breakeven | 273 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -27.9% | -8.6% |
| % Gain to Breakeven | 38.6% | 9.5% |
| Time to Breakeven | 209 days | 47 days |
In The Past
Universal's stock fell -3.0% during the 2025 US Tariff Shock. Such a loss loss requires a 3.1% 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 (UVV)
Universal Corporation (UVV) is a global agribusiness company primarily involved in processing and supplying leaf tobacco. With a long history dating back to 1886, the company serves as a vital link in the tobacco supply chain, handling the procurement, financing, processing, packing, storing, and shipping of various types of leaf tobacco. This includes flue-cured, burley, and oriental tobaccos mainly used in cigarettes, alongside dark air-cured tobaccos for cigars, natural wrapped cigars and cigarillos, smokeless tobacco, and pipe tobacco products. Its core customers in this segment are manufacturers of consumer tobacco products worldwide.
Beyond raw leaf processing, Universal offers extensive value-added services to its tobacco clients, such as blending, chemical and physical testing, service cutting, manufacturing reconstituted leaf tobacco, and just-in-time inventory management. They also provide specialized analytical services for tobacco constituents, crop protection agents, e-cigarette liquids, and vapors. Significantly, Universal has expanded its business into an Ingredients Operations segment, where it applies value-added manufacturing processes to produce specialty vegetable and fruit-based ingredients. This diversification allows the company to serve new markets, primarily the food and beverage end industries.
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- Cargill or ADM for tobacco and plant-based ingredients.
- The "Intel Inside" for tobacco products.
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- Leaf Tobacco Supply: Universal procures, processes, and supplies various types of leaf tobacco for manufacturers of consumer tobacco products.
- Specialty Vegetable and Fruit-Based Ingredients: The company manufactures value-added vegetable and fruit-based ingredients for the food and beverage markets.
- Tobacco Processing Services: This includes blending, service cutting, and manufacturing reconstituted leaf tobacco for manufacturers.
- Tobacco Analytical & Testing Services: Universal offers chemical and physical testing of tobacco, smoke testing, and analytical services for tobacco constituents and finished products.
- Electronic Nicotine Delivery Systems (ENDS) Support: The company is involved with electronic nicotine delivery systems, likely providing components or services for them.
- Tobacco Inventory Management: Universal provides just-in-time inventory management services for its tobacco customers.
- Tobacco Waste Recycling: The company recycles waste materials generated from tobacco production.
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- Manufacturers of Consumer Tobacco Products: Universal Corporation supplies leaf tobacco and provides various related services (processing, testing, blending, etc.) to manufacturers of cigarettes, cigars, natural wrapped cigars and cigarillos, smokeless tobacco, pipe tobacco products, and electronic nicotine delivery systems.
- Manufacturers for the Food and Beverage End Markets: Through its Ingredients Operations segment, Universal provides value-added manufacturing processes to produce specialty vegetable and fruit-based ingredients for companies operating in the food and beverage sectors.
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Preston D. Wigner, Chairman, President, and Chief Executive Officer
Elected Chairman, President, and Chief Executive Officer of Universal Corporation on October 1, 2024. Mr. Wigner joined Universal in 2003, bringing over two decades of industry experience. He previously served as Senior Vice President of Universal Corporation from December 2023, and prior to that, as Vice President, General Counsel and Secretary of Universal Corporation and Senior Vice President, General Counsel and Assistant Secretary of Universal Leaf from November 2005 until April 2024. Before joining Universal, Mr. Wigner was an associate with the law firms Williams Mullen and Hunton Andrews Kurth (formerly Hunton & Williams).
Johan C. Kroner, Senior Vice President and Chief Financial Officer
Elected Senior Vice President and Chief Financial Officer on September 1, 2018, and has been with Universal Corporation since July 1993. Mr. Kroner previously served as Senior Vice President of Universal Leaf from September 2014 to September 2018, and as Vice President from October 2011 to September 2014. He will retire on July 1, 2026, and will remain with the company until then, serving as an advisor to the CEO and supporting the transition to the new CFO.
Steven S. Diel, Incoming Senior Vice President and Chief Financial Officer (effective April 1, 2026)
Appointed Senior Vice President and Chief Financial Officer effective April 1, 2026. Mr. Diel joined Universal in 2018 and currently serves as Vice President and CFO of Universal Ingredients. He previously led the company's financial planning and analysis and corporate development functions, overseeing acquisitions totaling more than $350 million that established Universal's ingredients segment. Before joining Universal, he held senior finance and corporate development positions at several companies, including serving as CFO of a privately held company, and in roles at Chicago Bridge & Iron Company N.V., Ashland, Inc., Nexeo Solutions, LLC, and World Kinect Corporation. He also serves as Chairman of the Board of the Better Business Bureau of Central Virginia.
Airton L. Hentschke, Senior Vice President and Chief Operating Officer
Has more than 35 years of experience in leaf operations with Universal.
J. Patrick "Pat" O'Keefe, Vice President, Universal Ingredients and Senior Vice President of Universal Global Ventures, Inc.
Joined Universal in April 2020. Mr. O'Keefe has spent his entire 30+ year career in the food ingredient industry. He previously served as Chief Operating Officer for Allen Flavors from 2018 to 2020, Chief Executive Officer of the Americas for Döhler Group from 2015 to 2018, and President of Finlay Tea Solutions US, Inc. and then Chief Executive Officer of Finlay Extracts & Ingredients from 2007 to 2015, both subsidiaries of James Finlay International.
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Key Risks to Universal Corporation (UVV)
- Long-term Secular Decline in Global Tobacco Consumption: Universal Corporation's primary business, Tobacco Operations, faces a significant and ongoing threat from the global decline in smoking. This trend is driven by health and wellness shifts, increased regulation, higher retail taxes, and the growing popularity of novel tobacco products like e-cigarettes and heat-not-burn alternatives, which often use less or no tobacco leaf. This foundational decline poses a direct challenge to the demand for the company's core product.
- Oversupply of Leaf Tobacco and Associated Margin Pressures: A pressing near-term risk for Universal Corporation is the anticipated oversupply of key tobacco types, such as flue-cured and burley, for fiscal year 2026. This oversupply scenario could lead to significant margin pressure in its Tobacco Operations segment, impacting profitability despite steady customer demand.
- Challenges in Ingredients Operations Segment and Leveraged Balance Sheet: While the Ingredients Operations segment is crucial for diversification away from tobacco, it has not been consistently profitable and faces its own set of challenges, including margin pressures from higher fixed costs, weaker demand in the consumer-packaged goods sector, and tariff uncertainties. Compounding this, Universal Corporation operates with a leveraged balance sheet and considerable net debt, which limits its financial flexibility to invest further in and rapidly expand this diversification strategy or address other business challenges.
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The accelerated shift of consumer preference from traditional combustible tobacco products to non-combustible nicotine alternatives (e.g., e-cigarettes, heated tobacco products, oral nicotine pouches), which could significantly reduce demand for the leaf tobacco that constitutes Universal's primary product offering.
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Addressable Market Sizes for Universal Corporation (UVV)
Leaf Tobacco Operations
- The global raw tobacco leaves market size was valued at approximately USD 34.95 billion in 2024 and is projected to reach USD 46.00 billion by 2033, growing at a compound annual growth rate (CAGR) of 3.1% from 2025 to 2033.
- Asia Pacific is the dominant region for raw tobacco leaf production and consumption, accounting for approximately 45% of the global market in 2023. North America holds a 25-30% market share.
Tobacco Products (from processed leaf tobacco)
Cigarettes
- The global cigarette market size was valued at USD 1,143.4 billion in 2024 and is expected to reach USD 1,380.2 billion by 2033, with a CAGR of 1.9% during 2025-2033.
- The Asia-Pacific regional market dominated the cigarette market worldwide, accounting for 40.6% of the global market share in 2024.
Cigars and Cigarillos
- The global cigar and cigarillos market size was estimated at USD 54.79 billion in 2024 and is projected to reach USD 102.17 billion in 2033, growing at a CAGR of 7.2% from 2025 to 2033.
- Asia Pacific dominated the global cigar and cigarillos market in 2024 with a revenue share of 49.8%. The USA leads the global market with a 54.7% consumption share of total cigar units sold in 2024.
Smokeless Tobacco Products
- The global smokeless tobacco products market size was valued at USD 22.5 billion in 2024. It is projected to grow from USD 23.8 billion in 2026 to USD 35.4 billion by 2034, exhibiting a CAGR of 5.2%.
- Asia-Pacific dominated the smokeless tobacco products market with the largest revenue share of 38% in 2024.
Electronic Nicotine Delivery Systems (E-cigarettes/Vapes)
- The global e-cigarette and vape market size was estimated at USD 45.74 billion in 2025 and is projected to reach USD 462.14 billion by 2033, growing at a CAGR of 34.1% from 2026 to 2033.
- The North America e-cigarette and vape market accounted for a 43.5% share of the overall market in 2025.
Pipe Tobacco
- The global pipe tobacco market is projected to grow from USD 1.61 billion in 2025 to USD 2.13 billion by 2031 at a 4.78% CAGR.
- The Asia-Pacific region is expected to remain the largest market for pipe tobacco.
Plant-Based Ingredients Operations
- The global ingredients market for plant-based food and beverages was valued at USD 3.00 billion in 2025 and is estimated to grow to USD 13.96 billion by 2036, with a CAGR of 15%.
- The global plant-based food ingredients market size is estimated to reach USD 40.19 billion with a CAGR of 7.96% from 2025 to 2035.
- North America emerged as a prominent player, commanding a value of USD 5.0 billion in 2024 and escalating to USD 12.0 billion by 2035. Europe follows with a valuation of USD 6.0 billion in 2024, projected to increase to USD 14.5 billion by 2035. The Asia Pacific region is expected to reach USD 7.5 billion by 2035.
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Universal Corporation (UVV) is poised for future revenue growth over the next two to three years, driven by its strategic expansion into plant-based ingredients and sustained performance in its core tobacco operations. Key drivers include:
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Diversification and Growth in Plant-Based Ingredients: Universal Corporation is actively expanding its Universal Ingredients platform, strategically diversifying its revenue streams beyond traditional tobacco. This initiative focuses on sourcing and processing a variety of plant-based ingredients, such as fruits, vegetables, botanical extracts, and flavorings for the food and beverage sectors. The company is investing in facilities, such as the Lancaster, Pennsylvania facility, to boost production capabilities and deliver a solutions-based portfolio of value-added products, including those for the growing functional beverage market.
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Launch and Expansion of New Product Offerings within Ingredients Operations: The company anticipates increased sales from its new and enhanced product offerings within the Universal Ingredients segment. Management has expressed a focus on converting customer interest into sales and advancing the growth of its solutions-based portfolio, leveraging new partnerships and developed capabilities. This is expected to contribute meaningfully to earnings and drive top-line growth.
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Higher Prices and Favorable Product Mix in Tobacco Operations: Despite a modest decline in global leaf tobacco usage, Universal has demonstrated increasing operating income in its Tobacco Operations segment, primarily due to higher prices and a more favorable product mix. The company expects a continuation of tight tobacco supply and elevated green tobacco prices, which it aims to manage through its diverse global footprint.
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Expansion of Value-Added Services and Supply Chain Efficiencies in Tobacco Operations: Universal Corporation is committed to maintaining its leadership in the global leaf tobacco supply chain by continually driving efficiencies and expanding the range of services offered to its customers. This strategy involves maximizing the utilization of the entire tobacco plant by serving multiple customers with varying needs and providing services like blending, testing, and just-in-time inventory management.
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Share Repurchases
- Universal Corporation announced a share repurchase program in July 2024, reiterated in November 2024, authorizing the buyback of up to $100 million of its common stock.
- Repurchases are intended to occur in the open market or through privately negotiated transactions, adhering to market price norms.
Share Issuance
- The number of outstanding shares for Universal Corporation increased slightly by 0.21% in one year as of March 2026.
- Common shares outstanding were 24,921,155 at December 31, 2025, compared to 24,715,625 at December 31, 2024, and March 31, 2025.
Inbound Investments
- In December 2025, the company refinanced its senior unsecured credit facility and upsized it by $250 million, enhancing liquidity and financial flexibility.
- The credit facility refinancing received strong support from existing and new banking partners.
Outbound Investments
- Universal Corporation made three acquisitions in 2020 and 2021 to establish its Universal Ingredients business, aiming to gain a broad product portfolio, established customer relationships, and experienced management teams.
- The company invested in developing commercial sales, R&D, and product development capabilities, and in acquiring industry-leading production capabilities for its ingredients segment.
Capital Expenditures
- Capital expenditures for Universal Corporation were approximately -$48.02 million in the last 12 months as of March 2026.
- Primary focus of capital expenditures included investments in building commercial sales, R&D, product development, and adding production capabilities, culminating in the expansion of its Lancaster, Pennsylvania facility for the ingredients segment.
- Significant investments in the Ingredients Operations segment have led to higher fixed costs, impacting segment margins.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Universal Earnings Notes | 12/16/2025 | |
| How Low Can Universal Stock Really Go? | 10/17/2025 | |
| Time To Buy Universal Stock? | 08/09/2025 | |
| Why Universal Stock Moved: UVV Stock Has Gained 28% Since 2021 Fiscal End, Primarily Due To Favorable Change In Revenues | 08/08/2025 | |
| Universal (UVV) Valuation Ratios Comparison | 08/08/2025 | |
| UVV Dip Buy Analysis | 07/10/2025 | |
| ARTICLES | ||
| Better Bet Than Altria Stock: Pay Less To Get More From UVV | 08/08/2025 |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 87.33 |
| Mkt Cap | 5.7 |
| Rev LTM | 5,061 |
| Op Inc LTM | 537 |
| FCF LTM | 287 |
| FCF 3Y Avg | 404 |
| CFO LTM | 560 |
| CFO 3Y Avg | 682 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -1.5% |
| Rev Chg 3Y Avg | -0.1% |
| Rev Chg Q | 1.7% |
| QoQ Delta Rev Chg LTM | 0.4% |
| Op Inc Chg LTM | -8.4% |
| Op Inc Chg 3Y Avg | 5.8% |
| Op Mgn LTM | 10.6% |
| Op Mgn 3Y Avg | 10.0% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 8.3% |
| CFO/Rev 3Y Avg | 10.0% |
| FCF/Rev LTM | 4.8% |
| FCF/Rev 3Y Avg | 5.1% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tobacco Operations | 2,609 | 2,439 | 2,258 | 1,836 | 1,842 |
| Ingredients Operations | 339 | 310 | 312 | 268 | 142 |
| Total | 2,947 | 2,749 | 2,570 | 2,104 | 1,983 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tobacco Operations | 240 | 222 | 173 | 158 | 169 |
| Ingredients Operations | 12 | 4 | 11 | 17 | 0 |
| Equity in pretax earnings (loss) of unconsolidated affiliates | -9 | -1 | -2 | -6 | -3 |
| Restructuring and impairment costs | -11 | -4 | 0 | -10 | -23 |
| Other income | 0 | 3 | 4 | ||
| Total | 233 | 222 | 181 | 160 | 148 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Flue-Cured and Burley Leaf Tobacco Operations | 2,436 | ||||
| Other Tobacco Operations | 553 | ||||
| Ingredients Operations | 485 | 475 | 476 | 340 | |
| Tobacco Operations | 2,452 | 2,165 | 2,110 | 2,002 | |
| Total | 2,990 | 2,937 | 2,639 | 2,586 | 2,342 |
Price Behavior
| Market Price | $52.16 | |
| Market Cap ($ Bil) | 1.3 | |
| First Trading Date | 01/05/1988 | |
| Distance from 52W High | -9.8% | |
| 50 Days | 200 Days | |
| DMA Price | $53.34 | $52.50 |
| DMA Trend | indeterminate | up |
| Distance from DMA | -2.2% | -0.7% |
| 3M | 1YR | |
| Volatility | 25.2% | 24.0% |
| Downside Capture | -14.14 | -11.15 |
| Upside Capture | 0.85 | -15.37 |
| Correlation (SPY) | -8.1% | -4.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.11 | 0.15 | 0.09 | -0.06 | -0.04 | 0.26 |
| Up Beta | -0.08 | 0.42 | 0.11 | 0.02 | 0.18 | 0.36 |
| Down Beta | 1.67 | 0.10 | 0.01 | 0.19 | -0.02 | 0.25 |
| Up Capture | -54% | -2% | 4% | -12% | -13% | 5% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 10 | 21 | 33 | 64 | 116 | 370 |
| Down Capture | -48% | -7% | 20% | -30% | -3% | 36% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 10 | 20 | 30 | 56 | 130 | 371 |
[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 UVV | |
|---|---|---|---|---|
| UVV | -6.4% | 24.0% | -0.33 | - |
| Sector ETF (XLP) | 6.3% | 13.0% | 0.21 | 32.9% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | -5.0% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | -10.2% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -5.8% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 19.2% |
| Bitcoin (BTCUSD) | -38.3% | 42.4% | -1.02 | -6.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with UVV | |
|---|---|---|---|---|
| UVV | 4.4% | 24.6% | 0.15 | - |
| Sector ETF (XLP) | 6.0% | 13.4% | 0.23 | 40.4% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 24.3% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 6.5% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 7.5% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 36.5% |
| Bitcoin (BTCUSD) | 11.6% | 54.2% | 0.41 | 10.3% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with UVV | |
|---|---|---|---|---|
| UVV | 4.9% | 28.9% | 0.21 | - |
| Sector ETF (XLP) | 7.2% | 14.8% | 0.36 | 40.6% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 30.9% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 4.6% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 10.4% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 36.5% |
| Bitcoin (BTCUSD) | 60.4% | 66.8% | 1.00 | 9.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/8/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/28/2026 | 1.4% | 3.3% | |
| 2/9/2026 | -10.7% | -7.5% | -9.9% |
| 11/5/2025 | 5.3% | 2.2% | 0.3% |
| 8/6/2025 | -5.2% | -1.7% | 1.8% |
| 5/29/2025 | 10.1% | 2.0% | -1.9% |
| 2/10/2025 | 1.4% | -1.0% | 0.6% |
| 11/12/2024 | -1.3% | 3.3% | 5.1% |
| 8/7/2024 | 5.1% | 4.5% | 5.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 13 | 10 |
| # Negative | 12 | 11 | 13 |
| Median Positive | 2.6% | 3.3% | 5.1% |
| Median Negative | -4.1% | -4.3% | -5.7% |
| Max Positive | 11.4% | 13.3% | 30.6% |
| Max Negative | -12.7% | -11.9% | -11.1% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/28/2026 | 1.4% | 3.3% | |
| 2/9/2026 | -10.7% | -7.5% | -9.9% |
| 11/5/2025 | 5.3% | 2.2% | 0.3% |
| 8/6/2025 | -5.2% | -1.7% | 1.8% |
| 5/29/2025 | 10.1% | 2.0% | -1.9% |
| 2/10/2025 | 1.4% | -1.0% | 0.6% |
| 11/12/2024 | -1.3% | 3.3% | 5.1% |
| 8/7/2024 | 5.1% | 4.5% | 5.1% |
| 5/22/2024 | -12.7% | -11.2% | -9.7% |
| 2/7/2024 | -6.0% | -11.9% | -11.1% |
| 11/2/2023 | 11.4% | 13.3% | 30.6% |
| 8/2/2023 | -1.7% | -4.3% | -5.7% |
| 5/24/2023 | 0.0% | -3.0% | -5.9% |
| 2/8/2023 | 1.5% | 2.1% | -4.3% |
| 11/3/2022 | 9.6% | 11.9% | 13.9% |
| 8/3/2022 | -4.6% | -4.9% | -6.2% |
| 5/25/2022 | -0.4% | 1.1% | -3.2% |
| 2/2/2022 | -5.7% | -8.3% | 4.8% |
| 11/3/2021 | 0.8% | 1.7% | -0.6% |
| 8/4/2021 | -2.4% | -1.0% | -0.9% |
| 5/26/2021 | -3.7% | -2.5% | -5.9% |
| 2/8/2021 | 3.6% | 6.8% | 15.7% |
| 11/5/2020 | -0.6% | 7.6% | 19.1% |
| 8/5/2020 | 0.4% | 5.4% | -1.5% |
| SUMMARY STATS | |||
| # Positive | 12 | 13 | 10 |
| # Negative | 12 | 11 | 13 |
| Median Positive | 2.6% | 3.3% | 5.1% |
| Median Negative | -4.1% | -4.3% | -5.7% |
| Max Positive | 11.4% | 13.3% | 30.6% |
| Max Negative | -12.7% | -11.9% | -11.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 06/01/2026 | 10-K |
| 12/31/2025 | 02/09/2026 | 10-Q |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/30/2025 | 10-K |
| 12/31/2024 | 04/21/2025 | 10-Q |
| 09/30/2024 | 04/21/2025 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/29/2024 | 10-K |
| 12/31/2023 | 02/07/2024 | 10-Q |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/25/2023 | 10-K |
| 12/31/2022 | 02/08/2023 | 10-Q |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 06/01/2026 | 10-K |
| 12/31/2025 | 02/09/2026 | 10-Q |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/30/2025 | 10-K |
| 12/31/2024 | 04/21/2025 | 10-Q |
| 09/30/2024 | 04/21/2025 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/29/2024 | 10-K |
| 12/31/2023 | 02/07/2024 | 10-Q |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/25/2023 | 10-K |
| 12/31/2022 | 02/08/2023 | 10-Q |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/27/2022 | 10-K |
| 12/31/2021 | 02/02/2022 | 10-Q |
| 09/30/2021 | 11/03/2021 | 10-Q |
| 06/30/2021 | 08/04/2021 | 10-Q |
| 03/31/2021 | 05/28/2021 | 10-K |
| 12/31/2020 | 02/08/2021 | 10-Q |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/28/2020 | 10-K |
| 12/31/2019 | 02/04/2020 | 10-Q |
| 09/30/2019 | 11/12/2019 | 10-Q |
| 06/30/2019 | 08/07/2019 | 10-Q |
Insider Activity
Updated 6/8/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sledd, Robert C | Direct | Sell | 6082026 | 54.12 | 2,845 | 153,986 | 647,281 | Form | |
| 2 | Sledd, Robert C | Direct | Sell | 2272026 | 53.95 | 1,000 | 53,947 | 796,692 | Form | |
| 3 | Freeman, Lennart R | Direct | Sell | 2232026 | 53.45 | 3,746 | 200,229 | 854,848 | Form | |
| 4 | Hentschke, Airton L | Senior VP & COO | Direct | Sell | 8282025 | 54.94 | 10,000 | 549,414 | 7,424,176 | Form |
| 5 | Sledd, Robert C | Direct | Sell | 8182025 | 53.25 | 4,617 | 245,855 | 835,918 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sledd, Robert C | Direct | Sell | 6082026 | 54.12 | 2,845 | 153,986 | 647,281 | Form | |
| 2 | Sledd, Robert C | Direct | Sell | 2272026 | 53.95 | 1,000 | 53,947 | 796,692 | Form | |
| 3 | Freeman, Lennart R | Direct | Sell | 2232026 | 53.45 | 3,746 | 200,229 | 854,848 | Form | |
| 4 | Hentschke, Airton L | Senior VP & COO | Direct | Sell | 8282025 | 54.94 | 10,000 | 549,414 | 7,424,176 | Form |
| 5 | Sledd, Robert C | Direct | Sell | 8182025 | 53.25 | 4,617 | 245,855 | 835,918 | Form | |
| 6 | Freeman, Lennart R | Direct | Sell | 8122025 | 52.89 | 2,800 | 148,105 | 1,040,384 | Form |
Industry Resources
| Consumer Staples Resources |
| FoodNavigator |
| Consumer Goods Technology (CGT) |
| Beverage Digest |
| Tobacco Resources |
| Tobacco Reporter |
| Tobacco Journal International |
| CSP Daily News - Tobacco |
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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