Ryder System Inc. (R) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$3.69	$3.73	+1.1%	—	—	—
Q4 26	$2.27	$2.54	+11.9%	—	—	—
Q3 26	$3.57	$3.59	+0.6%	—	—	—
Q2 26	$3.54	$3.57	+0.8%	—	—	—
Q1 26	$3.1	$3.32	+7.1%	—	—	—
Q4 25	$2.39	$2.46	+2.9%	—	—	—
Q3 25	$3.37	$3.45	+2.4%	—	—	—
Q2 25	$3.42	$3.44	+0.6%	—	—	—
Q1 25	$2.87	$3	+4.5%	—	—	—
Q4 24	$1.71	$2.14	+25.1%	—	—	—
Q3 24	$2.74	$2.95	+7.7%	—	—	—
Q2 24	$3.22	$3.58	+11.2%	—	—	—
Q1 24	$2.89	$3.61	+24.9%	—	—	—
Q4 23	$2.97	$2.81	-5.4%	—	—	—
Q3 23	$3.49	$3.89	+11.5%	—	—	—
Q2 23	$3.66	$4.45	+21.6%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$12.7	—	—	$12.7B	—
FY24	—	$11.6	—	—	$12.7B	—
FY23	—	$9.25	—	—	$12B	—
FY22	—	$18.7	—	—	$12.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$6.8B	$7.3B	$8.4B	$8.9B	$8.4B	$9.9B	$12.5B	$12B	$12.7B	$12.7B
YoY change	+1.31%	+7.46%	+15.5%	+5.67%	-5.04%	+17.8%	+25.6%	-3.87%	+6.09%	-0.17%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	6.8B	7.3B	8.4B	8.9B	8.4B	9.9B	12.5B	12B	12.7B	12.7B
Cost of revenue	5.3B	5.8B	6.8B	7.6B	7.1B	7.9B	9.6B	9.5B	10.2B	10.1B
Gross profit	1.5B	1.4B	1.6B	1.3B	1.3B	2.1B	2.8B	2.5B	2.5B	2.6B
Gross margin	22.2%	19.6%	18.7%	14.8%	15.1%	20.8%	22.8%	20.8%	20%	20.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	804.2M	870.9M	849.4M	907.4M	1B	1.2B	1.4B	1.4B	1.5B	1.5B
Operating expenses	917.7M	985.9M	973.4M	1B	1.2B	1.3B	965M	1.4B	1.5B	1.5B
Operating income	584.7M	439.1M	593.9M	282.4M	231M	872M	1.4B	1.1B	1.1B	1.1B
Operating margin	8.65%	6.05%	7.08%	3.19%	2.74%	8.79%	11.4%	8.97%	8.4%	8.73%
Non-operating income, net	-29.6M	-761K	-24M	-83.3M	-100M	35M	19M	-160M	-20M	-19M
Pretax income	407.3M	296.4M	389.5M	-42.3M	-130M	693M	1.2B	618M	661M	685M
Income tax	142M	-423.7M	102.5M	-19M	-18M	171M	353M	212M	172M	184M
Net income	263.1M	719.6M	284.6M	-24.4M	-122M	519M	867M	406M	489M	499M
Net margin	3.89%	9.91%	3.39%	-0.28%	-1.45%	5.23%	6.96%	3.39%	3.85%	3.93%
EBITDA	1.8B	1.7B	2B	2.2B	2.4B	2.8B	3.3B	2.9B	2.9B	3.3B
EPS	4.91	14.9	5.15	-0.47	-2.28	9.65	18.7	9.25	11.6	12.7
Diluted EPS	4.9	14.9	5.15	-0.47	-2.34	9.65	17	8.73	11.1	11.9

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	3B	3B	3.1B	3.2B	3.2B	3.2B	3.1B	3.2B	3.2B	3.2B	3.1B	3.4B
Cost of revenue	2.3B	2.4B	2.5B	2.6B	2.5B	2.5B	2.5B	2.5B	2.5B	2.5B	2.5B	2.7B
Gross profit	644M	612M	585M	648M	655M	659M	616M	660M	668M	637M	606M	667M
Gross margin	21.7%	20.1%	18.8%	20.2%	20.6%	20.5%	19.6%	20.7%	21%	20%	19.3%	19.9%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	347M	368M	378M	368M	368M	365M	368M	378M	380M	347M	380M	390M
Operating expenses	347M	368M	378M	368M	368M	365M	368M	378M	380M	347M	380M	390M
Operating income	297M	244M	207M	280M	287M	294M	248M	282M	288M	290M	226M	277M
Operating margin	10%	8.01%	6.64%	8.75%	9.02%	9.17%	7.9%	8.85%	9.07%	9.1%	7.2%	8.26%
Non-operating income, net	-9M	0	-1M	-6M	-1M	-13M	-14M	4M	4M	-13M	-11M	5M
Pretax income	213M	160M	114M	178M	188M	181M	134M	184M	190M	177M	118M	185M
Income tax	53M	36M	29M	52M	45M	46M	36M	52M	51M	44M	25M	52M
Net income	161M	124M	85M	127M	142M	135M	98M	131M	138M	132M	93M	133M
Net margin	5.42%	4.07%	2.73%	3.97%	4.46%	4.21%	3.12%	4.11%	4.35%	4.14%	2.96%	3.97%
EBITDA	732M	718M	674M	736M	556M	758M	698M	840M	847M	856M	777M	838M
EPS	3.63	2.82	1.93	2.89	3.36	3.21	2.37	3.21	3.42	3.37	2.4	3.43
Diluted EPS	3.47	2.72	1.89	2.84	3.24	3.12	2.27	3.13	3.32	3.25	2.33	3.39

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	4B	4.5B	2.6B	2.8B	3.3B	4.4B	—	5.1B	6.6B	7.5B	9B
Enterprise value	9.3B	9.8B	9.3B	10.9B	10B	11.1B	—	13B	15.3B	16B	17.3B
Shares outstanding	53.5M	53M	53.1M	52.3M	53.7M	53.8M	46.3M	43.9M	42.1M	39.4M	39.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	15.1	6.19	8.99	—	—	8.54	—	12.4	13.5	15.1	19.1
P/S	0.59	0.61	0.3	0.32	0.39	0.45	—	0.42	0.52	0.59	0.7
P/B	1.94	1.57	1.01	1.15	1.47	1.58	—	1.65	2.12	2.47	3.14
EV/EBITDA	5.24	5.79	4.56	4.92	4.21	4.05	—	4.49	5.26	4.8	6.21
EV/Sales	1.38	1.35	1.11	1.23	1.19	1.12	—	1.08	1.21	1.26	1.35
Earnings yield	6.61%	16.1%	11.1%	—	—	11.7%	—	8.04%	7.41%	6.61%	5.23%
FCF yield	-7.64%	-5.21%	-52.1%	-56.1%	31.2%	5.28%	—	-17.4%	-6.33%	6.08%	10.6%
PEG	—	—	—	—	—	—	—	—	—	—	2.81

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	22.2%	19.6%	18.7%	14.8%	15.1%	20.8%	22.8%	20.8%	20%	20.3%	19.9%
Operating margin	8.65%	6.05%	7.08%	3.19%	2.74%	8.79%	11.4%	8.97%	8.4%	8.73%	8.46%
Net margin	3.89%	9.91%	3.39%	-0.28%	-1.45%	5.23%	6.96%	3.39%	3.85%	3.93%	3.88%
ROE	12.8%	25.3%	11.2%	-0.99%	-5.41%	18.5%	29.5%	13.2%	15.7%	16.3%	16.7%
ROA	2.41%	6.28%	2.13%	-0.17%	-0.94%	3.75%	6.02%	2.57%	2.93%	3.05%	3.89%
ROIC	5.16%	5.37%	4.69%	2.68%	2.57%	6.91%	10.4%	6.41%	6.66%	7.03%	7.23%
Return on tangible assets	2.62%	6.8%	2.32%	-0.18%	-1.03%	4.2%	7.18%	3.1%	3.64%	3.76%	3.81%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.63	0.66	0.62	0.59	0.78	0.77	0.66	0.62	0.75	0.89	0.65
Quick ratio	0.59	0.62	0.59	0.56	0.75	0.75	0.64	0.62	0.75	0.89	0.65
Debt / equity	2.63	1.9	2.7	3.29	3.05	2.48	2.41	2.65	2.85	2.84	2.94
Debt / assets	0.49	0.47	0.51	0.56	0.53	0.5	0.49	0.52	0.53	0.53	0.53
Net debt / EBITDA	3	3.15	3.32	3.64	2.82	2.44	2.08	2.74	3	2.54	2.48
Interest coverage	3.75	3.09	3.16	0.82	0.5	4.24	6.33	3.09	2.71	2.7	2.69
Effective tax rate	34.9%	0%	26.3%	0%	0%	24.7%	29%	34.3%	26%	26.9%	25.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	126.4	137.2	158	169.4	156.7	184.4	269.2	272.9	302	321.9	324.4
EPS (basic)	4.91	14.9	5.15	-0.47	-2.28	9.65	18.7	9.25	11.6	12.7	12.7
EPS (diluted)	4.9	14.9	5.15	-0.47	-2.34	9.65	17	8.73	11.1	11.9	12.3
Book value per share	38.4	53.7	47.8	47.3	42	52	63.5	69.9	74.1	77.4	75.1
FCF per share	-5.69	-4.39	-25.1	-30.5	19.3	4.35	-6.94	-20.1	-9.93	11.6	17.7
Cash per share	1.1	1.48	1.28	1.41	2.82	4.35	5.77	4.65	3.66	5.02	5.71
Capex per share	27.8	27	50	61.5	11.1	20.8	30.2	54.8	50.7	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	22%	19.7%	31.6%	36.3%	7.05%	11.3%	11.2%	20.1%	16.8%	—	—
Capex / operating cash flow	88.8%	89.2%	144.2%	150.4%	26.4%	43.5%	44.7%	89.2%	76.3%	—	—
Payout ratio	34.6%	13.3%	39.3%	-477.1%	-97.5%	23.5%	14.2%	31.5%	27.6%	29.1%	29.6%
Dividend yield	2.29%	2.15%	4.37%	4.1%	3.59%	2.75%	—	2.53%	2.05%	1.92%	1.73%

Yield

1.73%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.01

ex-dividend Aug 24, 2026

Payout ratio

30%

of earnings

Dividend growth

16 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 24, 2026	$1.01
May 18, 2026	$0.91
Feb 17, 2026	$0.91

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$3B	$3B	$3.1B	$3.2B	$3.2B	$3.2B	$3.1B	$3.2B	$3.2B	$3.2B	$3.1B	$3.4B
YoY change	-5.62%	-4.3%	+3.11%	+8.91%	+7.14%	+5.32%	+0.71%	-0.44%	-0.28%	-0.62%	-0.06%	+5.24%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	58.8M	78.3M	68.1M	73.6M	151.3M	234M	267M	204M	154M	198M
Receivables	739.7M	898.9M	1.1B	1.1B	1.1B	1.3B	1.5B	1.5B	1.6B	1.7B
Inventory	69.5M	73.5M	79.2M	80.8M	61.2M	69M	78M	—	—	—
Total current assets	1.1B	1.3B	1.6B	1.6B	1.6B	2.5B	2.2B	2.3B	2.5B	2.5B
Property, plant & equipment	-4B	-4.4B	-4.7B	-5.2B	-5.5B	-5.9B	-5.1B	-4.4B	-4.5B	-4.7B
Goodwill & intangibles	870M	876.9M	1.1B	1.1B	1B	1.5B	2.3B	2.7B	3.2B	3.1B
Total assets	10.9B	11.5B	13.3B	14.5B	12.9B	13.8B	14.4B	15.8B	16.7B	16.4B
Accounts payable	445.5M	599.3M	731.9M	594.7M	547.4M	748M	767M	833M	828M	689M
Short-term debt	791.4M	826.1M	1B	1.2B	595.4M	1.4B	1.5B	1.8B	1.4B	1.1B
Total current liabilities	1.7B	2B	2.5B	2.6B	2.1B	3.2B	3.3B	3.6B	3.3B	2.8B
Long-term debt	4.6B	4.6B	5.8B	6.9B	6.3B	5.5B	5.5B	6.3B	7.5B	7.6B
Total liabilities	8.9B	8.6B	10.8B	12B	10.7B	11B	11.5B	12.7B	13.6B	13.3B
Shareholders' equity	2.1B	2.8B	2.5B	2.5B	2.3B	2.8B	2.9B	3.1B	3.1B	3.1B
Total debt	5.4B	5.4B	6.9B	8.1B	6.9B	6.9B	7.1B	8.1B	8.9B	8.7B
Net debt	5.3B	5.3B	6.8B	8.1B	6.7B	6.7B	6.8B	7.9B	8.7B	8.5B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	159M	204M	234M	164M	162M	154M	151M	180M	189M	198M	182M	219M
Receivables	1.4B	1.5B	1.6B	1.6B	1.6B	1.6B	1.6B	1.7B	1.9B	1.7B	1.7B	1.8B
Inventory	75M	—	—	—	—	—	—	—	—	—	—	—
Total current assets	2.1B	2.3B	2.4B	2.4B	2.4B	2.5B	2.3B	2.3B	2.6B	2.5B	2.5B	2.5B
Property, plant & equipment	-3.5B	-4.4B	-3.1B	-3.1B	-3.3B	-4.5B	-3.4B	-3.5B	-3.5B	-4.7B	-3.6B	-3.7B
Goodwill & intangibles	2.3B	2.7B	3.2B	3.2B	3.2B	3.2B	3.2B	3.2B	3.2B	3.1B	3.1B	3.1B
Total assets	15.3B	15.8B	16.5B	16.4B	16.5B	16.7B	16.4B	16.5B	16.5B	16.4B	16.2B	16.1B
Accounts payable	911M	833M	854M	797M	891M	828M	864M	838M	676M	689M	725M	734M
Short-term debt	2.1B	1.8B	1B	1.4B	1.3B	1.4B	1.4B	1B	872M	1.1B	2B	2.3B
Total current liabilities	4B	3.6B	2.9B	3.2B	3.2B	3.3B	3.2B	2.9B	2.6B	2.8B	3.7B	3.9B
Long-term debt	5.5B	6.3B	7.7B	7.3B	7.5B	7.5B	7.4B	7.7B	8B	7.6B	6.7B	6.2B
Total liabilities	12.2B	12.7B	13.4B	13.3B	13.4B	13.6B	13.4B	13.4B	13.5B	13.3B	13.4B	13.2B
Shareholders' equity	3.1B	3.1B	3.1B	3.1B	3.1B	3.1B	3B	3.1B	3.1B	3.1B	2.9B	2.9B
Total debt	7.6B	8.1B	8.8B	8.7B	8.8B	8.9B	8.8B	8.7B	8.8B	8.7B	8.7B	8.5B
Net debt	7.5B	7.9B	8.5B	8.6B	8.6B	8.7B	8.7B	8.5B	8.7B	8.5B	8.5B	8.2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	265.2M	720.1M	286.9M	-23.3M	-112M	522M	863M	406M	489M	501M
Depreciation & amortization	1.2B	1.3B	1.5B	2B	2.1B	1.8B	1.8B	1.8B	1.9B	2.2B
Stock-based compensation	18.7M	—	—	—	—	—	—	—	—	—
Change in working capital	36.7M	-116M	-182.1M	-781K	44M	-121.5M	-172M	-33M	-93M	-96M
Operating cash flow	1.7B	1.6B	1.8B	2.1B	2.2B	2.6B	3.1B	2.7B	2.8B	2.6B
Capital expenditure	-1.5B	-1.4B	-2.7B	-3.2B	-594M	-1.1B	-1.4B	-2.4B	-2.1B	—
Investing cash flow	-1.4B	-1.4B	-2.7B	-3.2B	-601M	-1.4B	-1.9B	-2.7B	-2.4B	-1M
Dividends paid	-91M	-95.8M	-111.9M	-116.5M	-119M	-122M	-123M	-128M	-135M	-145M
Share repurchases	-37.3M	-78.3M	-30.8M	-27.7M	-29M	-57M	-557M	-337M	-321M	-531M
Financing cash flow	-185.9M	-162.1M	1.1B	1.1B	-1.5B	-204M	-861M	256M	153M	-912M
Net change in cash	78.4M	77M	196.9M	6M	140M	920.5M	411M	292M	500M	1.7B
Free cash flow	-304.1M	-232.3M	-1.3B	-1.6B	1B	234M	-321M	-881M	-418M	459M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	160M	124M	85M	127M	142M	135M	98M	132M	138M	133M	93M	133M
Depreciation & amortization	440M	473M	463M	462M	269M	469M	465M	554M	555M	570M	561M	556M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-60M	-64M	-25M	-56M	-9M	-3M	47M	-20M	-295M	172M	24M	-62M
Operating cash flow	669M	635M	643M	660M	695M	795M	732M	678M	442M	749M	583M	677M
Capital expenditure	-605M	-597M	-513M	-494M	-482M	-643M	-392M	-551M	—	—	—	—
Investing cash flow	-607M	-849M	-810M	-494M	-498M	-644M	-393M	-551M	0	0	-11M	-1M
Dividends paid	-33M	-32M	-35M	-31M	-35M	-34M	-38M	-33M	-37M	-37M	-39M	-35M
Share repurchases	-131M	-55M	-68M	-73M	-141M	-39M	-190M	-87M	-90M	-164M	-257M	-94M
Financing cash flow	-70M	382M	316M	-122M	-135M	88M	-261M	-183M	-25M	-443M	-277M	-373M
Net change in cash	-8M	168M	149M	44M	62M	239M	78M	-56M	417M	306M	295M	303M
Free cash flow	-184M	-266M	-160M	-86M	31M	-203M	137M	63M	-85M	344M	156M	272M

Date	Ratio
Dec 15, 1993	1:1
Jun 2, 1986	3:2
Mar 20, 1985	2:1

Ryder System Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history