Name: Debt to Equity

Definition: Debt to equity shows how much debt the company uses compared to the amount invested by its owners. It’s a bit like comparing your mortgage to your house down payment. Higher ratios suggest the business is comfortable borrowing to grow — which can boost returns in good times, but adds risk if conditions worsen. Lower ratios signal a more conservative, steady approach.

Interpretation:
• In '2022', UHAL's debt to equity was 1.02, showing the balance between debt financing and shareholders' equity. Industry average for Rental/Leasing Companies in '2022' stood at 3.13.
• In '2023', UHAL's debt to equity was 0.95, showing the balance between debt financing and shareholders' equity. The decrease since '2022' reflects improving financial health. Industry average for Rental/Leasing Companies in '2023' stood at 3.02. Industry average declined by 0.11 from previous year.
• In '2024', UHAL's debt to equity was 0.88, showing the balance between debt financing and shareholders' equity. The decrease since '2023' reflects improving financial health. Industry average for Rental/Leasing Companies in '2024' stood at 1.24. Industry average declined by 1.78 from previous year.
• In '2025', UHAL's debt to equity was 0.97, showing the balance between debt financing and shareholders' equity. The increase compared to '2024' may signal growing financial pressure. Industry average for Rental/Leasing Companies in '2025' stood at 0.97. Industry average declined by 0.28 from previous year.
Overall, UHAL's debt to equity has consistently declined during the past 4 years.

Formula: Debt to Equity = Total Debt / Shareholders' Equity

Good Range: Below 1.0 is conservative; 1-2 is common depending on industry.