Universal Logistics Holdings (ULH) Cash Flow: Operating & Free Cash Flow

Universal Logistics Holdings Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Cash flow statement showing operating, investing, and financing activities for Universal Logistics Holdings, Inc. (ULH) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	-99.87	129.91	92.90	168.63	73.73	48.13	37.59	52.18	28.15
Depreciation & Amortization	146.25	124.19	77.04	76.66	67.54	74.14	74.77	54.43	47.00
Deferred Income Tax	-27.38	30.34	10.15	8.22	-3.20	-3.28	7.16	6.58	-19.01
Stock Based Compensation	0.46	0.78	0.26	0.22	0.16	0.20	0.07	0.41	0.41
Change in Working Capital	39.96	-209.09	28.26	-46.15	-60.46	-27.62	6.67	-21.24	26.38
Change in Accounts Receivable	32.55	35.98	62.50	-16.27	-92.97	-58.09	21.80	-26.47	-29.40
Change in Inventory	0.00	0.00	0.00	0.00	92.97	58.09	-21.80	0.00	0.00
Change in Accounts Payable	-3.57	4.47	-29.83	-37.52	36.64	26.73	-13.79	-2.14	40.63
Change in Other Working Capital	-23.09	-245.07	0.55	7.64	-97.09	-54.35	20.47	7.36	15.15
Other Operating Activities	126.76	66.58	0.55	5.83	5.50	7.77	1.78	2.55	0.92
Net Cash from Operating Activities	183.05	112.37	210.25	213.41	83.28	99.34	128.04	94.90	83.85
Investing Activities
Capital Expenditures	-224.18	-251.60	-240.55	-117.10	-38.84	-90.71	-79.75	-66.59	-63.36
Acquisitions	0.00	-215.76	0.00	14.28	38.84	-1.30	-75.96	-173.60	0.00
Purchases of Investments	0.00	0.02	0.27	-0.93	-0.11	-0.36	-0.09	-1.23	-0.40
Sales/Maturities of Investments	2.98	0.02	0.27	-14.28	0.12	1.62	1.60	5.73	1.26
Other Investing Activities	17.74	4.45	3.51	14.28	-33.24	4.19	11.15	6.48	1.21
Net Cash from Investing Activities	-203.45	-462.90	-236.77	-103.74	-33.23	-86.56	-143.06	-229.20	-61.29
Financing Activities
Debt Repayment	-148.21	-104.16	-254.91	-45.56	-33.25	1.97	56.57	153.82	-13.71
Common Stock Repurchased	-0.09	-0.11	-0.13	-14.32	0.00	-5.14	-24.79	-0.93	-1.49
Dividends Paid	-11.06	-11.05	-11.04	-13.94	-11.31	-5.73	-15.04	-10.93	-7.96
Other Financing Activities	-2.41	0.00	-0.95	-4.42	0.00	-0.05	0.00	-3.14	0.00
Net Cash from Financing Activities	26.09	365.04	-8.56	-78.24	-44.56	-8.95	16.75	138.83	-23.16
Summary
Effect of Forex Changes on Cash	1.81	-7.67	0.41	1.83	-0.32	-2.79	0.28	-0.47	0.52
Net Change in Cash	7.50	6.84	-34.67	33.25	5.17	1.04	2.00	4.06	-0.08
Cash at Beginning of Period	19.35	12.51	47.18	13.93	8.76	7.73	5.73	1.67	1.76
Cash at End of Period	26.85	19.35	12.51	47.18	13.93	8.76	7.73	5.73	1.67
Free Cash Flow	-41.13	-139.23	-30.31	96.31	44.44	8.63	48.28	28.32	20.49
Supplemental Disclosures
Interest Paid	-	33.39	23.40	14.33	11.22	14.04	-	-	-
Income Taxes Paid	-	18.59	25.41	40.89	36.17	3.78	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jul 4, 2026. Data sources and methodology

Frequently Asked Questions About Universal Logistics Holdings Cash Flow

What is Universal Logistics Holdings's free cash flow?

Universal Logistics Holdings had negative free cash flow of $41.13M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $183.05M minus $224.18M of capital expenditures.

How much does Universal Logistics Holdings spend on capital expenditures?

Universal Logistics Holdings spent $224.18M on capital expenditures in fiscal 2025, compared with $251.60M a year earlier. That equals 122.5% of operating cash flow.

Does Universal Logistics Holdings pay dividends or buy back shares?

Yes. In fiscal 2025 Universal Logistics Holdings returned $11.06M in dividends and $85.00K in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition