ULH (ULH) financial statements
ULH reported revenue of $1.6B in fiscal 2025, up 4.2% a year over 9 years.
Net income was -$100M and the operating margin -4.1%, against 4.3% in 2016.
Free cash flow was -$41M, and the company returned $11M in dividends and $85,000 in net buybacks.
The diluted share count fell 7% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from ULH's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B | $1.2B | $1.5B | $1.5B | $1.4B | $1.8B | $2.0B | $1.7B | $1.8B | $1.6B |
| Selling, general and admin | $38M | $32M | $32M | $44M | $33M | $42M | $49M | $50M | $57M | $54M |
| Operating income | $47M | $25M | $84M | $65M | $80M | $103M | $240M | $145M | $203M | -$64M |
| Interest expense | $8M | $10M | $15M | $17M | $15M | $12M | $16M | $24M | $34M | $49M |
| Pre-tax income | $39M | $17M | $69M | $50M | $64M | $99M | $225M | $124M | $174M | -$100M |
| Income tax | $15M | -$11M | $17M | $13M | $16M | $25M | $57M | $31M | $44M | -$139,000 |
| Net income | $24M | $28M | $52M | $38M | $48M | $74M | $169M | $93M | $130M | -$100M |
| EPS (diluted) | $0.85 | $0.99 | $1.84 | $1.34 | $1.78 | $2.74 | $6.37 | $3.53 | $4.93 | -$3.79 |
| Diluted shares | 28M | 28M | 28M | 28M | 27M | 27M | 26M | 26M | 26M | 26M |
| Operating margin | 4.3% | 2.1% | 5.7% | 4.3% | 5.8% | 5.9% | 11.9% | 8.8% | 11.0% | -4.1% |
| Net margin | 2.3% | 2.3% | 3.6% | 2.5% | 3.5% | 4.2% | 8.4% | 5.6% | 7.0% | -6.4% |
Balance sheet
Fiscal years, from ULH's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $16M | $17M | $6M | $8M | $9M | $14M | $47M | $13M | $19M | $27M |
| Receivables | $145M | $171M | $216M | $211M | $259M | $341M | $351M | $288M | $294M | $261M |
| Inventory | $9M | $5M | $7M | $7M | $8M | $14M | $11M | $12M | $8M | $10M |
| Total current assets | $207M | $229M | $275M | $272M | $322M | $421M | $460M | $365M | $410M | $383M |
| Property, plant and equipment | $246M | $267M | $303M | $340M | $365M | $346M | $391M | $561M | $742M | $819M |
| Goodwill | $74M | $74M | $145M | $168M | $171M | $171M | $171M | $171M | $207M | $106M |
| Total assets | $570M | $611M | $843M | $995M | $1.1B | $1.1B | $1.2B | $1.3B | $1.8B | $1.8B |
| Total current liabilities | $145M | $199M | $221M | $250M | $273M | $313M | $287M | $260M | $305M | $318M |
| Long-term debt | $227M | $207M | $349M | $398M | $400M | $366M | $313M | $311M | $670M | $683M |
| Total liabilities | $423M | $442M | $634M | $790M | $823M | $835M | $757M | $721M | $1.1B | $1.2B |
| Shareholders' equity | $148M | $169M | $209M | $205M | $240M | $302M | $447M | $532M | $647M | $540M |
| Net debt | $260M | $246M | $395M | $450M | $451M | $413M | $331M | $369M | $740M | $771M |
Cash flow
Fiscal years, from ULH's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $69M | $84M | $95M | $128M | $99M | $83M | $213M | $210M | $112M | $183M |
| Capital spending | $97M | $63M | $67M | $80M | $91M | $39M | $117M | $241M | $252M | $224M |
| Free cash flow | -$29M | $20M | $28M | $48M | $9M | $44M | $96M | -$30M | -$139M | -$41M |
| Stock-based compensation | $571,000 | $414,000 | $413,000 | $73,000 | $195,000 | $162,000 | $222,000 | $262,000 | $779,000 | $457,000 |
| Dividends paid | $8M | $8M | $11M | $15M | $6M | $11M | $14M | $11M | $11M | $11M |
| Share buybacks (net) | -$26,000 | -$1M | -$930,000 | -$25M | -$5M | $0 | -$14M | -$134,000 | -$107,000 | -$85,000 |
| Net borrowing | $21M | -$9M | $143M | -$14M | $2M | -$45M | $118M | -$18M | $87M | $133M |
| Free cash flow margin | -2.7% | 1.7% | 1.9% | 3.2% | 0.6% | 2.5% | 4.8% | -1.8% | -7.5% | -2.6% |
| Dividends per share | $0.28 | $0.28 | $0.38 | $0.54 | $0.21 | $0.42 | $0.53 | $0.42 | $0.42 | $0.42 |
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Open ULH in InvestinglyQuestions
What was ULH's revenue in 2025?
$1.6B in fiscal 2025, from its 10-K filing.
How much free cash flow does ULH generate?
-$41M in fiscal 2025 (operating cash flow minus capital spending).
From ULH's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.