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Ryder System, Inc.

R Industrials Rental & Leasing Services

Ryder System, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $12.7 billion, roughly unchanged from fiscal 2024.

Revenue
+8.26%
EPS
+25.0%
Free cash flow
+782.9%
Total debt
−8.30%

Quarter to September 2026, against a year earlier

269.92 13.20 −4.66%
Market cap
$10.3B
P/E
20.6×
Fwd P/E
21.4×
Dividend yield
1.39%
F-score
7/9
Altman Z
1.53
Beneish M
−3.07
Dividend safety
76/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • FMS
  • SCS
  • DTS

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 53.72
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 12 — — 3 — — — — 3 1
Insider Ownership 3.76%

Capital & Financial Ratios $m

Size
Market Cap 10,330.00
Revenue ttm 13,080.00
Net income ttm 520.00
Free cash flow ttm 1,442.00
Net debt Q 7,007.00
Valuation
P/E 20.57
Forward P/E 21.40
Price / sales 0.79
Forward P/S Powerpack
Price / FCF 7.16
Price / book 3.47
Financial health
Current ratio Q 0.67 (below 1: weak)
Debt / equity Q 2.42 (above 2: weak)
Interest coverage Q 3.15
Growth
Revenue growth Q +8.26% (above 0%: growing)
Operating income growth Q +9.82% (above 0%: growing)
EPS, this year +16.26% (at or above 15%: strong)
EPS, next year A +21.24% (at or above 15%: strong)
Revenue, next year A +5.77%
EPS, past 5 yrs —
EPS, next 5 yrs A +18.09% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.3×, against a ten-year median of 1.2×; over the ten years it ranged from 0.8× in 2023 to 1.4× in 2016.
P/E against its own 10 years 91.13%
10-year low 10-year high
P/S against its own 10 years 98.20%
10-year low 10-year high
P/B against its own 10 years 97.76%
10-year low 10-year high
EV/Sales against its own 10 years 83.06%
10-year low 10-year high
EV/FCF against its own 10 years 39.50%
10-year low 10-year high

Dividends raised every year since 2017

Yield
1.39%
Annual rate
3.74
Payout ratio
28.5%
Growth, 2017–25
+8.43%/yr
  1. 1.80 ’17
  2. 2.12 ’18 +18
  3. 2.20 ’19 +4
  4. 2.24 ’20 +2
  5. 2.28 ’21 +2
  6. 2.40 ’22 +5
  7. 2.66 ’23 +11
  8. 3.04 ’24 +14
  9. 3.44 ’25 +13
  10. 3.68 ’26e +7
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 204 154 198 198
Receivables 1,714 1,861 1,897 2,097
Inventory — — — —
Other — — — —
2,265 2,463 2,473 2,600
2023 2024 2025 Q'26
Payables 833 828 689 835
ST’ Debt 1,583 1,120 819 1,668
Other — — — —
3,649 3,271 2,778 3,882

Compound Annual Growth %

10y 5y 3y
Sales 6.78% 8.51% 1.78%
Cash Flow 6.05% 3.53% 3.94%
Earnings 5.05% 0.00% (16.82%)
Book Value 4.38% 6.23% 1.29%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 4.17 Actual 4.33

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 3.66 3.59 Miss by 0.07
Q1 FY26 2.29 2.54 Beat by 0.25
Q2 FY26 3.70 3.73 Beat by 0.03
Q3 FY26 4.17 4.33 Beat by 0.16
Q4 FY26 4.47 — Reports 10 February 2027

EPS $

Mar Jun Sep Dec Year
’26 2.33 3.39 4.15 — —
’25 2.27 3.13 3.32 3.25 11.94
’24 1.89 2.84 3.24 3.12 11.06
’23 2.94 (0.40) 3.47 2.72 8.73
’22 3.35 4.70 4.82 4.18 17.04
’21 0.95 2.77 2.57 3.35 9.66
’20 (2.10) (1.42) 0.68 0.48 (2.34)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 3,126 3,347 3,433 — —
’25 3,131 3,189 3,171 3,174 12,665
’24 3,098 3,182 3,168 3,188 12,636
’23 2,952 2,884 2,924 3,023 11,783
’22 2,854 3,034 3,035 3,088 12,011
’21 2,222 2,382 2,459 2,600 9,663
’20 2,161 1,895 2,151 2,213 8,420
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 583 677 725 — —
’25 651 752 442 749 2,594
’24 526 552 629 558 2,265
’23 478 743 621 511 2,353
’22 466 637 683 524 2,310
’21 466 666 554 490 2,175
’20 439 660 598 484 2,181
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 273 410 309 — —
’25 259 201 35 450 945
’24 13 58 147 (85) 133
’23 101 (85) 16 (86) (54)
’22 108 436 301 69 914
’21 241 360 227 228 1,056
’20 111 502 606 369 1,587
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 1.0% a year for ten years.

Implied
1.0%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 6,758 7,280 8,414 8,926 8,420 9,663 12,011 11,783 12,636 12,665 13,080 +7.2% 13,396 14,127 15,089 +6.0%
Gross margin, % 22.22 19.81 17.42 15.36 15.14 18.65 19.90 19.51 19.57 20.18 19.58 (2.0) pt
EBT 407 296 389 (42) (130) 693 1,216 618 661 685 706 +5.9%
EBT margin, % 6.03 4.07 4.63 (0.47) (1.54) 7.17 10.12 5.24 5.23 5.41 5.40 (0.6) pt
Net income 263 720 285 (24) (122) 519 867 406 489 499 520 +7.4%
Per share, $
Per share, $ Revenue 127.48 138.37 160.60 170.51 160.80 184.63 242.41 259.63 293.32 310.42 341.90 +10.4%
Earnings 4.90 14.87 5.17 (0.47) (2.34) 9.66 17.04 8.73 11.06 11.94 13.12 +10.4%
Cash flow 30.20 30.94 32.79 40.89 41.65 41.56 46.62 51.85 52.58 63.58 71.46 +8.6%
Capex (27.99) (27.21) (50.66) (61.46) (11.34) (21.38) (28.17) (53.04) (49.49) (40.42) (33.77) +4.2%
Free cash flow 2.21 3.74 (17.87) (20.57) 30.31 20.18 18.45 (1.19) 3.09 23.16 37.69 +29.8%
Book value 38.71 54.01 48.42 47.30 43.08 53.46 59.27 67.62 72.36 74.81 77.82 +7.6%
Shares, m 53 53 52 52 52 52 50 45 43 41 39 (2.9%)
Valuation, ×
Valuation, × P/E 15.32 5.80 9.31 0.00 0.00 8.55 4.84 12.92 14.14 15.99 20.57 8.7
P/S 0.59 0.62 0.30 0.32 0.38 0.45 0.34 0.43 0.53 0.62 0.79 0.5
P/B 1.95 1.60 0.99 1.15 1.43 1.54 1.39 1.67 2.17 2.56 3.47 1.6
EV/Sales 1.38 1.36 1.08 1.20 1.15 1.10 0.85 1.02 1.14 1.20 1.33 1.1
EV/FCF 79.61 50.22 (9.73) (9.93) 6.11 10.09 11.13 (222.73) 108.14 16.14 12.02 3.9
Cash, $m
Cash, $m Operating cash flow 1,601 1,628 1,718 2,141 2,181 2,175 2,310 2,353 2,265 2,594 2,734 +5.5%
Capex (1,484) (1,431) (2,654) (3,217) (594) (1,119) (1,396) (2,407) (2,132) (1,649) (1,292) +1.2%
Free cash flow 117 197 (936) (1,077) 1,587 1,056 914 (54) 133 945 1,442 +26.1%
Balance, $m
Balance, $m Working capital (643) (692) (949) (1,063) (458) (740) (1,116) (1,384) (808) (305) (1,282) (7.9%)
Net debt 5,332 5,331 6,581 7,851 6,459 6,346 6,085 6,910 7,625 7,447 7,007 +3.8%
Shareholders’ equity 2,052 2,842 2,537 2,476 2,256 2,798 2,937 3,069 3,117 3,052 2,977 +4.5%
Returns, %
Returns, % ROA 2.41 6.44 2.29 (0.18) (0.89) 3.88 6.14 2.69 3.01 3.02 3.18 +0.6 pt
ROIC 4.62 3.28 4.17 1.70 1.58 4.21 6.68 5.25 5.55 6.25 6.45 +1.6 pt
ROE 13.03 29.41 10.58 (0.97) (5.16) 20.54 30.24 13.52 15.81 16.18 17.13 +3.2 pt
People
People Employees 34,500 36,100 39,600 39,900 39,000 42,800 48,300 47,500 50,700 51,600 — +4.6%
Revenue/emp, $m 0.20 0.20 0.21 0.22 0.22 0.23 0.25 0.25 0.25 0.25 — +2.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

Ryder System provides outsourced transportation and logistics services across North America. It is headquartered in Coral Gables. At year-end, Robert E. Sanchez was chair and chief executive.

Businesses hire Ryder to manage vehicles, move freight and run parts of their supply chains. Its Fleet Management Solutions business leases and rents commercial vehicles, maintains customer fleets and provides fuel and fleet support. A company leasing vehicles can choose its maintenance services while supplying and supervising its own drivers.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
FMS 5,845 46.15%
SCS 5,459 43.10%
DTS 2,343 18.50%
Gross margin 20.18%
Operating margin 8.29%
Pre-tax margin 5.41%

Revenue by segment since 2009

Ryder System, Inc. vs peers in Rental & Leasing Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SUNB Sunbelt Rentals Holdings, Inc. $31.2B 22.6× 21.3× — — −91.04% (below 0%: shrinking) 40.10% 22.18% Compare
AER Aercap Holdings N.V. $25.7B 8.4× 7.7× +4.62% (above 0%: growing) −12.21% (below 0%: shrinking) +8.56% (above 0%: growing) 100.00% 60.94% Compare
R Ryder System, Inc. $10.3B 20.6× 21.4× +8.26% (above 0%: growing) +25.00% (above 0%: growing) +782.86% (above 0%: growing) 19.95% 8.80%
UHAL U-Haul Holding Company $10.2B 416× 52.0× +3.07% (above 0%: growing) −14.71% (below 0%: shrinking) +37.12% (above 0%: growing) 0.00% 14.95% Compare
GATX GATX Corporation $6.5B 17.4× 17.8× +36.13% (above 0%: growing) +30.22% (above 0%: growing) +145.40% (above 0%: growing) 74.97% 32.17% Compare
HRI Herc Holdings Inc. $5.0B 40.8× 25.2× +4.60% (above 0%: growing) +245.98% (above 0%: growing) −330.00% (below 0%: shrinking) 55.35% 18.18% Compare
CAR Avis Budget Group, Inc. $4.3B — (loss-making) 83.1× −2.36% (below 0%: shrinking) −44.84% (below 0%: shrinking) −11.76% (below 0%: shrinking) 52.82% 19.79% Compare
EQPT EquipmentShare.com Inc. $3.5B 15.4× 39.0× +102.37% (above 0%: growing) n/m −17.02% (below 0%: shrinking) 28.36% 6.49% Compare
WSC WillScot Holdings Corporation $3.2B — (loss-making) 17.6× +6.09% (above 0%: growing) +16.67% (above 0%: growing) +61.99% (above 0%: growing) 63.18% 20.99% Compare
Median of peers $5.8B 20.0× 23.3× +4.62% +2.23% −1.60% 54.09% 20.39%

All 20 Rental & Leasing Services stocks →

From the latest earnings call

Updated

  • CEO John Diez said contractual sales accelerated in leasing and dedicated transportation, while used vehicle pricing and rental performance improved.
  • Diez said Ryder raised its full-year comparable earnings forecast, citing third-quarter performance and expected benefits from used vehicle sales and rental.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 90.89%
Held by the ten largest 47.05%
Holder Shares Stake Change
Vanguard 4.65m 12.13% −66.91k
BlackRock 4.02m 10.49% −18.02k
State Street 1.78m 4.63% −78.51k
Dimensional Fund Advisors 1.60m 4.18% −17.16k
EARNEST PARTNERS LLC 1.48m 3.86% −39.98k
LSV ASSET MANAGEMENT 1.12m 2.93% −141.39k
Wellington Management 867.35k 2.26% −871.48k
Goldman Sachs 865.55k 2.26% +489.41k
American Century 858.99k 2.24% −40.24k
First Trust 793.16k 2.07% −217.16k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 11 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 10.18m 16.66m 353.00
2024 9.28m 23.50m 284.00
2023 9.21m 20.55m 203.00
2022 9.77m 14.99m 144.00
2021 8.82m 24.32m 138.00

Ownership

Directors and executive officers, together 4.90%
The Vanguard Group100 Vanguard Blvd.Malvern, PA 13.00%
BlackRock, Inc.50 Hudson YardsNew York, NY 11.30%
Wellington Management Group LLP280 Congress StreetBoston, MA 5.70%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Ryder System, Inc. (R) Latest News

27 Oct

Impact 3 · · Business Wire

26 Oct

Impact 4 · · Zacks
Impact 3 · · Zacks

24 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · The Motley Fool

23 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · StockStory

22 Oct

Impact 4 · · StockStory earnings
Impact 4 · · MarketBeat
Impact 4 · · FreightWaves
Impact 4 · · Moby transcript
Impact 4 · · TIKR
Impact 4 · · The Motley Fool transcript
Impact 4 · · FreightWaves
Impact 4 · · StockStory
Impact 4 · · Zacks
Impact 3 · · Zacks
Impact 3 · · Associated Press

21 Oct

Impact 3 · · StockStory

20 Oct

Impact 3 · · Zacks
Impact 3 · · Zacks

13 Oct

Impact 4 · · Zacks
Impact 3 · · Business Wire

8 Oct

Impact 4 · · Zacks
Impact 3 · · Zacks

6 Oct

Impact 4 · · Business Wire

24 Sep

Impact 3 · · StockStory

23 Sep

Impact 3 · · Simply Wall St.

4 Sep

Impact 3 ·

30 Jul

Impact 3 ·

R metrics, ten years each

stockrow.com/R · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com