Blackwater was U-Haul Holding’s largest revenue line in fiscal 2025, bringing in $59.81M of $73.62M (81%).
| Related Party | FY 2019 | FY 2021 | FY 2023 | FY 2025 |
|---|---|---|---|---|
| Blackwater | $59.65M | $59.81M | ||
| Mercury | $14.50M | $13.82M | ||
| Total | $74.15M | $73.62M |
U-Haul Holding brought in $73.62M from its two revenue lines in fiscal 2025, the year ended March 31, 2025. That was down 0.7% from $74.15M in fiscal 2023, the previous year with figures. Blackwater was the largest at $59.81M (81.2%), ahead of Mercury at $13.82M (18.8%).
Compared with fiscal 2023, the previous year with figures, Blackwater grew 0.3% to $59.81M, while Mercury fell 4.7% to $13.82M. From fiscal 2023 to 2025, combined revenue from these revenue lines fell from $74.15M to $73.62M, a compound annual decline of 0.4%. Blackwater's share of the total rose from 80.4% to 81.2%.
Operating Segments was U-Haul Holding’s largest segment in fiscal 2024, bringing in $10.59B of $10.61B (100%).
| Segment | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Segments | $63.21M | $10.80B | $10.59B | |||||||||
| Intersegment Eliminations | — | $24.75M | $23.08M | |||||||||
| Eliminations | — | — | — | |||||||||
| Total | $63.21M | $10.82B | $10.61B |
U-Haul Holding brought in $10.61B from its two segments in fiscal 2024, the year ended March 31, 2024. That is less than the $11.25B it reports by geography, so these segments do not cover all of its revenue. Operating Segments was the largest at $10.59B (99.8%), ahead of Intersegment Eliminations at $23.08M (0.2%).
U-Haul Holding began breaking out Intersegment Eliminations in fiscal 2022, when it brought in $24.75M.
United States was U-Haul Holding’s largest region in fiscal 2024, bringing in $10.68B of $11.25B (95%).
| Geography | FY 2014 | FY 2018 | FY 2020 | FY 2022 | FY 2024 |
|---|---|---|---|---|---|
| United States | $10.90B | $10.68B | |||
| Canada | $575.44M | $576.34M | |||
| Total | $11.48B | $11.25B |
U-Haul Holding brought in $11.25B from its two regions in fiscal 2024, the year ended March 31, 2024. That was down 2.0% from $11.48B in fiscal 2022, the previous year with figures. United States was the largest at $10.68B (94.9%), ahead of Canada at $576.34M (5.1%).
Compared with fiscal 2022, the previous year with figures, Canada grew 0.2% to $576.34M, while United States fell 2.1% to $10.68B. From fiscal 2022 to 2024, combined revenue from these regions fell from $11.48B to $11.25B, a compound annual decline of 1.0%. United States' share held steady at about 94.9%.
U-Haul Holding (UHAL) reports its revenue by related party, by segment and by geography. In fiscal 2025, Blackwater was its largest revenue line, bringing in $59.81M (81.2% of the total), followed by Mercury at $13.82M (18.8%).
Blackwater was U-Haul Holding's largest revenue line in fiscal 2025, bringing in $59.81M, or 81.2% of the $73.62M total across its two revenue lines.
Operating Segments was U-Haul Holding's largest segment in fiscal 2024, bringing in $10.59B, or 99.8% of the $10.61B total across its two segments.
United States was U-Haul Holding's largest region in fiscal 2024, bringing in $10.68B, or 94.9% of the $11.25B total across its two regions.
Every figure comes from U-Haul Holding's annual financial filings, as reported. Each line keeps the name U-Haul Holding gives it, and years follow its fiscal calendar.
U-Haul Holding's revenue by related party goes back to fiscal 2019, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.