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Ryder System, Inc.

R

Ryder System, Inc. • NYSE
$173.21 ▲ 0.42% (+0.72)
Market Cap $6.99 B
52w High $195.48
52w Low $125.54
Dividend Yield 3.44%
P/E 14.62
Volume 77.86K
Outstanding Shares 40.38M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.171B ▼ $380M ▲ $138M ▲ 4.352% ▲ $3.33 ▲ $735M ▼
Q2-2025 $3.189B ▲ $366M ▲ $131M ▲ 4.108% ▲ $3.21 ▲ $810M ▲
Q1-2025 $3.131B ▼ $355M ▲ $98M ▼ 3.13% ▼ $2.32 ▼ $768M ▲
Q4-2024 $3.189B ▲ $345M ▼ $135M ▼ 4.233% ▼ $3.21 ▼ $720M
Q3-2024 $3.168B $357M $142M 4.482% $3.3 $720M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $189M ▲ $16.548B ▲ $13.454B ▲ $3.094B ▲
Q2-2025 $180M ▲ $16.47B ▲ $13.396B ▼ $3.074B ▲
Q1-2025 $151M ▼ $16.421B ▼ $13.418B ▼ $3.003B ▼
Q4-2024 $154M ▼ $16.672B ▲ $13.555B ▲ $3.117B ▲
Q3-2024 $162M $16.497B $13.441B $3.056B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $138M ▲ $442M ▼ $-407M ▲ $-25M ▲ $9M ▼ $-85M ▼
Q2-2025 $130M ▲ $752M ▲ $-550M ▼ $-183M ▲ $29M ▲ $63M ▼
Q1-2025 $98M ▼ $651M ▲ $-393M ▲ $-261M ▼ $-3M ▲ $137M ▲
Q4-2024 $134M ▼ $558M ▼ $-645M ▼ $88M ▲ $-8M ▼ $-203M ▼
Q3-2024 $142M $629M $-497M $-129M $-2M $31M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Dedicated Transportation Solutions
Dedicated Transportation Solutions
 $610.00M ▲$600.00M ▼$610.00M ▲$570.00M ▼
Fleet Management Solutions
Fleet Management Solutions
 $1.49Bn ▲$1.45Bn ▼$1.47Bn ▲$1.47Bn ▲
Supply Chain Solutions
Supply Chain Solutions
 $1.34Bn ▲$1.33Bn ▼$1.37Bn ▲$1.38Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Ryder’s income statement shows a business that has grown meaningfully over the last five years while becoming more profitable and more efficient. Revenue has trended upward, especially since the pandemic, and operating profit has improved as the company scaled and optimized its fleet and logistics operations. Earnings, however, have been somewhat choppy: one year stands out as exceptionally strong, followed by a step down to more normal levels, and there was a small loss in the pandemic year. This pattern suggests exposure to industry cycles, used vehicle pricing, and freight demand. Overall, the company appears solidly profitable today, but investors should expect swings in earnings rather than a perfectly smooth trend.

Balance Sheet

Balance Sheet The balance sheet reflects a capital‑intensive, asset‑heavy model built around owning and operating large fleets and logistics facilities. Total assets have steadily grown as Ryder has expanded its business, and shareholders’ equity has also increased, which is a healthy sign. At the same time, the company carries a substantial amount of debt, which is common in leasing and logistics but still a key risk point, especially in higher interest‑rate environments or downturns. Cash on hand is relatively modest compared with the size of the balance sheet, so Ryder relies on access to funding markets and consistent cash generation to support its operations and reinvestment.

Cash Flow

Cash Flow Ryder generates strong and consistently solid cash from its day‑to‑day operations, which is a clear strength. However, the company also spends heavily on capital investments, particularly on vehicles and equipment, which means free cash flow has often been negative in recent years. In simpler terms, the business is choosing to reinvest more cash back into the fleet and network than it brings in after expenses, aiming for growth and modernization. That can pay off over time but reduces financial flexibility and makes the company more sensitive to any slowdown in demand or tightening of credit conditions.

Competitive Edge

Competitive Edge Ryder benefits from a broad and integrated offering across fleet management, dedicated transportation, and supply chain solutions, which allows it to be a one‑stop partner for many customers. Its large physical network, long operating history, and reputation for reliability create a meaningful barrier for smaller or newer rivals. The company competes with well‑known players in trucking, leasing, and logistics, so pricing pressure and customer churn are ongoing realities. Still, Ryder’s end‑to‑end capabilities, dense service network, and long‑standing customer relationships provide a competitive edge that is not easy to replicate quickly.

Innovation and R&D

Innovation and R&D Ryder has leaned hard into technology and innovation for what is often seen as a traditional, asset‑heavy business. The company has built its own digital platforms for supply chain visibility, fleet management, last‑mile delivery, and e‑commerce fulfillment, and it is actively using data, automation, and artificial intelligence to improve efficiency and service quality. Investments in electric vehicle solutions, robotics in warehouses, and partnerships around autonomous trucking show a clear push to stay ahead of structural shifts in logistics. The main uncertainty is timing and payoff: some of these bets, especially in electrification and autonomy, may take years to fully prove their economic value, and not all initiatives will translate into higher margins right away.

Summary

Ryder today looks like a mature logistics and fleet company that has successfully grown from its pre‑pandemic base while improving profitability, but with earnings that still reflect the ups and downs of a cyclical, capital‑intensive industry. Its balance sheet shows meaningful leverage, which is typical for its model but adds risk if economic conditions weaken or financing costs rise. Strong operating cash generation is a key support, though heavy reinvestment into the fleet and network keeps free cash flow tight. Strategically, Ryder’s scale, integrated services, and technology platforms give it a solid competitive position, and its innovation efforts in visibility, automation, and electrification could deepen its moat if executed well. The trade‑off is exposure to economic cycles, high capital needs, and uncertainty around the long‑term returns on newer technology and sustainability investments.

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