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Ryder System, Inc.

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

Dividend growth 25 yrs

269.92 13.20 −4.66%

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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 Segments Valuation Filings

Ryder System, Inc. (R) revenue by segment, product and region

Where the money comes from and where it goes

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 $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
FMS	5,845 46.15%	5,888 46.60%	5,930 50.33%	6,327 52.68%	5,680 58.78%	5,171 61.41%	5,571 62.42%	5,259 62.50%	4,717 64.79%	4,556 67.42%	4,546 69.17%	4,178 62.93%	4,036 62.88%	3,976 63.55%	4,218 69.72%	3,712 72.27%	3,568 73.00%
SCS	5,459 43.10%	5,300 41.94%	4,875 41.37%	4,720 39.30%	3,155 32.65%	2,544 30.21%	2,551 28.58%	2,398 28.50%	1,937 26.61%	1,609 23.81%	1,548 23.55%	1,561 23.52%	1,551 24.17%	2,281 36.45%	2,206 36.46%	1,735 33.78%	1,140 23.32%
DTS	2,343 18.50%	2,446 19.36%	1,785 15.15%	1,786 14.87%	1,457 15.08%	1,229 14.60%	1,417 15.88%	1,333 15.85%	1,096 15.05%	1,021 15.10%	896 13.63%	900 13.55%	832 12.95%	—	—	—	—
Intersegment Eliminations	—	—	—	—	—	—	—	—	—	—	—	—	—	—	(374) (6.18%)	(311) (6.05%)	(291) (5.96%)
Dedicated Contract Carriage	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	471 9.64%
Eliminations	(982) (7.75%)	(998) (7.90%)	(807) (6.85%)	(822) (6.84%)	(629) (6.51%)	(524) (6.22%)	(614) (6.88%)	(576) (6.85%)	(469) (6.45%)	(428) (6.33%)	(417) (6.35%)	—	—	—	—	—	—
Revenue	12,665	12,636	11,783	12,011	9,663	8,420	8,926	8,414	7,280	6,758	6,572	6,639	6,419	6,257	6,051	5,136	4,887

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
U.S.	11,782 93.03%	11,773 93.17%	10,932 92.78%	11,073 92.19%	8,679 89.82%	7,516 89.26%	7,900 88.51%	7,409 88.05%	6,342 87.11%	5,864 86.76%	5,604 85.27%	5,614 84.56%	5,411 84.30%	5,232 83.62%	5,075 83.88%	4,313 83.98%	4,127 84.44%
Canada	548 4.33%	538 4.26%	538 4.57%	528 4.40%	503 5.21%	460 5.46%	497 5.57%	466 5.54%	432 5.93%	388 5.74%	408 6.21%	435 6.56%	455 7.09%	477 7.63%	482 7.96%	466 9.08%	424 8.68%
Mexico	335 2.65%	325 2.57%	313 2.66%	260 2.16%	219 2.27%	189 2.24%	222 2.49%	198 2.35%	171 2.34%	139 2.06%	140 2.12%	158 2.39%	161 2.51%	143 2.29%	147 2.44%	122 2.38%	98 2.00%
Europe	—	—	—	150 1.25%	262 2.71%	255 3.03%	303 3.39%	317 3.77%	305 4.19%	339 5.02%	391 5.95%	401 6.04%	372 5.80%	384 6.14%	324 5.36%	220 4.27%	224 4.58%
Singapore	—	—	—	—	—	—	3 0.04%	24 0.28%	31 0.42%	28 0.42%	29 0.44%	30 0.45%	19 0.30%	20 0.32%	22 0.36%	15 0.29%	15 0.30%
Foreign	—	—	—	—	—	—	—	—	—	—	968	1,025	1,008	1,025	975	823	760
Revenue	12,665	12,636	11,783	12,011	9,663	8,420	8,926	8,414	7,280	6,758	6,572	6,639	6,419	6,257	6,051	5,136	4,887

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
ChoiceLease average active fleet count	Q3 FY2026	131.1K	133.2K	−1.58%
ChoiceLease average fleet count	Q3 FY2026	140.0K	142.4K	−1.69%
ChoiceLease end of period active fleet count	Q3 FY2026	131.3K	132.9K	−1.20%
ChoiceLease end of period fleet count	Q3 FY2026	139.8K	142.3K	−1.76%
Commercial rental average fleet count	Q3 FY2026	29.4K	33.3K	−11.71%
Commercial rental end of period fleet count	Q3 FY2026	29.8K	32.7K	−8.87%
Customer vehicles under DTS contracts end of period power vehicles	Q3 FY2026	6.9K	7.0K	−1.43%
Customer vehicles under SCS contracts end of period power vehicles	Q3 FY2026	4.0K	3.9K	+2.56%
Customer vehicles under SCS end of period fleet count	Q3 FY2026	13.1K	13.3K	−1.50%
Customer vehicles under SelectCare contracts average fleet count	Q3 FY2026	44.3K	43.6K	+1.61%
Customer vehicles under SelectCare contracts end of period fleet count	Q3 FY2026	43.8K	43.8K	0.00%
DTS end of period fleet count	Q3 FY2026	16.8K	18.2K	−7.69%
Remaining performance obligations	Q3 FY2026	$3.4B	$3.3B	+3.03%
Rental rate change	Q3 FY2026	4.00%	5.00%	—
Rental utilization - power units	Q3 FY2026	77.0%	70.0%	—
Used vehicle sales end of period fleet count	Q3 FY2026	7.3K	8.5K	−14.12%
Used vehicles sold	Q3 FY2026	5.1K	4.9K	+4.08%
UVS pricing change - tractors	Q3 FY2026	19.0%	−6.00%	—
UVS pricing change - trucks	Q3 FY2026	5.00%	−15.0%	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q4 FY2021	Q3 FY2021	Q2 FY2021	Q1 FY2021	Q4 FY2020	Q3 FY2020	Q2 FY2020	Q1 FY2020	Q4 FY2019	Q3 FY2019	Q2 FY2019	Q1 FY2019
ChoiceLease average active fleet count	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
ChoiceLease average fleet count	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
ChoiceLease end of period active fleet count	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
ChoiceLease end of period fleet count	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Commercial rental average fleet count	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Commercial rental end of period fleet count	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Customer vehicles under DTS contracts end of period power vehicles	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Customer vehicles under SCS contracts end of period power vehicles	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Customer vehicles under SCS end of period fleet count	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Customer vehicles under SelectCare contracts average fleet count	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Customer vehicles under SelectCare contracts end of period fleet count	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
DTS end of period fleet count	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Rental rate change	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Rental utilization - power units	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Used vehicle sales end of period fleet count	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Used vehicles sold	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
UVS pricing change - tractors	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
UVS pricing change - trucks	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.