ULHUNIVERSAL LOGISTICS HOLDINGS, INC.
Trucking (no Local)
- Revenue
- $1.6B
- 16% YoY
- Operating margin
- -4.1%
- 138% YoY
- EBITDA
- $82M
- 75% YoY
- Market cap
- $596M
- Employees
- 10,525
- $148K revenue each
- Net debt / EBITDA
- 8.2×
- $672M net debt
- AI in 10-K
- 0.2
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo0% of revenueOver 10% of revenue
- Payouts exceed cash flowNo6% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo6% of assetsOver 40% of assets
- Shareholder dissentYes78% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo$148K per employeeBottom quartile of its SIC industry
- Quiet on AIYes0.2 per 10K words · 14th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo8.2× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$596M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$0 netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.8B | $2.0B | $1.7B | $1.8B | $1.6B | 16% |
| Operating income | $103M | $240M | $145M | $203M | −$64M | 132% |
| Net income | $74M | $169M | $93M | $130M | −$100M | 177% |
| Operating cash flow | $83M | $213M | $210M | $112M | $183M | 63% |
| Capex | $39M | $117M | $241M | $252M | $224M | 11% |
| Stock-based comp | $162K | $222K | $262K | $779K | $457K | 41% |
| Buybacks | $0 | $14M | $134K | $107K | $85K | 21% |
| Dividends | $11M | $14M | $11M | $11M | $11M | 0.0% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Aug 3, 2023 | MOROUN MATTHEW T | SC 13D/A | 74.1% | Active |
| May 16, 2023 | MOROUN MATTHEW T | SC 13D/A | 74.1% | Passive |
| Jan 18, 2022 | MOROUN MATTHEW T | SC 13D/A | 72.3% | Passive |
| Jun 24, 2021 | MOROUN MATTHEW T | SC 13D/A | 60.8% | Passive |
| Dec 29, 2020 | MOROUN MATTHEW T | SC 13D/A | 61.1% | Passive |
| Dec 15, 2020 | MOROUN MATTHEW T | SC 13D/A | 72.3% | Passive |
| Nov 30, 2020 | MOROUN MATTHEW T | SC 13D/A | 65.2% | Passive |
| Feb 14, 2020 | MOROUN MATTHEW T | SC 13D/A | 71.3% | Passive |
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.