U-Haul Holding Company Dossier
Qualitative Analysis
Business overview
U-Haul Holding Company (formerly AMERCO) is the undisputed leader in the North American do-it-yourself (DIY) moving and storage industry, commanding an estimated 50% to 55% market share. Founded in 1945 and controlled by the Shoen family, the company operates an extensive shared-use network consisting of over 2,400 company-operated retail stores and more than 23,000 independent dealer locations across all 50 U.S. states and 10 Canadian provinces. Its massive rental fleet includes approximately 204,800 trucks, 136,600 trailers, and 42,000 towing devices. Beyond equipment rentals, U-Haul has aggressively expanded its self-storage footprint to become the third-largest self-storage operator in North America, managing nearly 1,136,000 rentable storage units totaling 99.0 million square feet. The company operates through three primary segments: Moving and Storage (which generates approximately 94% of consolidated revenues), Property and Casualty Insurance (Repwest), and Life Insurance (Oxford Life).
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Pausing growth in the box truck fleet and reducing net equipment purchases by approximately $560 million in fiscal 2027 to manage depreciation and improve margins.
Expected impact: Lower depreciation expenses and improved operating margins.
Focusing growth capital on expanding the U-Box container fleet, Toy Hauler trailers, and developing the real estate pipeline.
Expected impact: Increased high-margin self-storage and portable storage revenues.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Recent Acquisitions
Acquisition of a 548,938-square-foot skyscraper in Midtown Phoenix to serve as the new corporate headquarters for U-Haul International and other subsidiaries, improving home office efficiency.
Financial impact: Consolidates administrative operations and supports long-term organizational efficiency.