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ULH (Universal Logistics Holdings) Piotroski F-Score : 5 (As of Mar. 16, 2025)


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What is Universal Logistics Holdings Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Universal Logistics Holdings has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Universal Logistics Holdings's Piotroski F-Score or its related term are showing as below:

ULH' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 9
Current: 5

During the past 13 years, the highest Piotroski F-Score of Universal Logistics Holdings was 9. The lowest was 4. And the median was 6.


Universal Logistics Holdings Piotroski F-Score Historical Data

The historical data trend for Universal Logistics Holdings's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Universal Logistics Holdings Piotroski F-Score Chart

Universal Logistics Holdings Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 9.00 9.00 5.00 -

Universal Logistics Holdings Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 5.00 5.00 5.00 -

Competitive Comparison of Universal Logistics Holdings's Piotroski F-Score

For the Trucking subindustry, Universal Logistics Holdings's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Universal Logistics Holdings's Piotroski F-Score Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Universal Logistics Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Universal Logistics Holdings's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was 21.413 + 52.457 + 30.734 + 26.54 = $131 Mil.
Cash Flow from Operations was 49.038 + 36.881 + 9.55 + 6.202 = $102 Mil.
Revenue was 390.92 + 491.907 + 462.164 + 426.833 = $1,772 Mil.
Gross Profit was 60.553 + 102.376 + 78.565 + 72.057 = $314 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(1259.276 + 1253.523 + 1384.601 + 1472.056 + 1554.894) / 5 = $1384.87 Mil.
Total Assets at the begining of this year (Sep23) was $1,259 Mil.
Long-Term Debt & Capital Lease Obligation was $557 Mil.
Total Current Assets was $406 Mil.
Total Current Liabilities was $212 Mil.
Net Income was 33.445 + 24.876 + 23.566 + 23.047 = $105 Mil.

Revenue was 458.721 + 437.396 + 412.572 + 421.251 = $1,730 Mil.
Gross Profit was 75.407 + 66.363 + 63.345 + 65.556 = $271 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(1199.179 + 1203.678 + 1235.3 + 1235.366 + 1259.276) / 5 = $1226.5598 Mil.
Total Assets at the begining of last year (Sep22) was $1,199 Mil.
Long-Term Debt & Capital Lease Obligation was $387 Mil.
Total Current Assets was $389 Mil.
Total Current Liabilities was $287 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Universal Logistics Holdings's current Net Income (TTM) was 131. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Universal Logistics Holdings's current Cash Flow from Operations (TTM) was 102. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Sep23)
=131.144/1259.276
=0.10414238

ROA (Last Year)=Net Income/Total Assets (Sep22)
=104.934/1199.179
=0.08750487

Universal Logistics Holdings's return on assets of this year was 0.10414238. Universal Logistics Holdings's return on assets of last year was 0.08750487. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Universal Logistics Holdings's current Net Income (TTM) was 131. Universal Logistics Holdings's current Cash Flow from Operations (TTM) was 102. ==> 102 <= 131 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=557.45/1384.87
=0.40252876

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=387.222/1226.5598
=0.31569761

Universal Logistics Holdings's gearing of this year was 0.40252876. Universal Logistics Holdings's gearing of last year was 0.31569761. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Sep24)=Total Current Assets/Total Current Liabilities
=405.746/211.614
=1.91738732

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=389.221/286.947
=1.35642122

Universal Logistics Holdings's current ratio of this year was 1.91738732. Universal Logistics Holdings's current ratio of last year was 1.35642122. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Universal Logistics Holdings's number of shares in issue this year was 26.353. Universal Logistics Holdings's number of shares in issue last year was 26.31. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=313.551/1771.824
=0.17696509

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=270.671/1729.94
=0.15646265

Universal Logistics Holdings's gross margin of this year was 0.17696509. Universal Logistics Holdings's gross margin of last year was 0.15646265. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Sep23)
=1771.824/1259.276
=1.407018

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=1729.94/1199.179
=1.44260365

Universal Logistics Holdings's asset turnover of this year was 1.407018. Universal Logistics Holdings's asset turnover of last year was 1.44260365. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+0+0+1+0+1+0
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Universal Logistics Holdings has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Universal Logistics Holdings  (NAS:ULH) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Universal Logistics Holdings Piotroski F-Score Related Terms

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Universal Logistics Holdings Business Description

Traded in Other Exchanges
N/A
Address
12755 East Nine Mile Road, Warren, MI, USA, 48089
Universal Logistics Holdings Inc is an asset-light provider of customized transportation and logistics solutions throughout the United States, and in Mexico, Canada and Colombia. It offers services such as truckload, brokerage, intermodal, dedicated, and value-added services. The company reports into four segments namely trucking, intermodal, company-managed brokerage, and contract logistics. The majority of the revenue is earned from the contract logistics segment.
Executives
Matthew T Moroun director, 10 percent owner 12225 STEPHENS ROAD, WARREN MI 48089
Michael A. Regan director 360 W. BUTTERFIELD ROAD, SUITE 400, ELMURST IL 60126
Frederick P Calderone director C/O CENTRAL TRANSPORT INTL, 12225 STEPHENS RD, WARREN MI 48089
Marcus D. Hudson director 12755 E. NINE MILE ROAD, WARREN MI 48089
Richard P Urban director C/O UNIVERSAL TRUCKLOAD SERVICES, INC., 11355 STEPHENS ROAD, WARREN MI 48089
Nora M. Moroun 10 percent owner 12225 STEPHENS ROAD, WARREN MI 48089
Matthew J. Moroun director 12225 STEPHENS ROAD, WARREN MI 48089
Timothy Phillips director, officer: Chief Executive Officer 12755 E. NINE MILE ROAD, WARREN MI 48089
Jeff Rogers director, officer: Chief Executive Officer 720 SPYGLASS HILL, HOLLAND MI 49424
H.e. Wolfe director 11355 STEPHENS ROAD, WARREN MI 48089
Clarence W Gooden director
Grant Edward Belanger director 12755 EAST NINE MILE ROAD, WARREN MI 48089
Jude Marcus Beres officer: Chief Financial Officer 12755 E. NINE MILE ROAD, WARREN MI 48089
David A. Crittenden officer: Chief Financial Officer 11355 STEPHENS ROAD, WARREN MI 48089
Manuel J Moroun director, 10 percent owner CENTRAL TRANSPORT INTL, 12225 STEPHENS RD, WARREN MI 48089