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RUSHA

Rush Enterprises, Inc.

RUSHA

Rush Enterprises, Inc. • NASDAQ
$52.06 ▼ -0.44% (-0.23)
Market Cap $4.01 B
52w High $65.43
52w Low $45.67
Dividend Yield 0.74%
P/E 15.45
Volume 164.02K
Outstanding Shares 77.07M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.881B ▼ $274.722M ▲ $66.69M ▼ 3.546% ▼ $0.85 ▼ $163.46M ▲
Q2-2025 $1.931B ▲ $269.465M ▲ $72.438M ▲ 3.752% ▲ $0.92 ▲ $127.445M ▼
Q1-2025 $1.851B ▼ $265.891M ▼ $60.322M ▼ 3.259% ▼ $0.76 ▼ $152.92M ▼
Q4-2024 $2.01B ▲ $266.968M ▲ $74.752M ▼ 3.72% ▼ $0.94 ▼ $172.766M ▲
Q3-2024 $1.896B $239.741M $79.132M 4.173% $1 $140.037M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $242.005M ▲ $4.553B ▼ $2.316B ▼ $2.214B ▲
Q2-2025 $211.106M ▼ $4.716B ▲ $2.541B ▲ $2.154B ▼
Q1-2025 $228.719M ▲ $4.688B ▲ $2.5B ▲ $2.167B ▲
Q4-2024 $228.131M ▲ $4.618B ▼ $2.456B ▼ $2.142B ▲
Q3-2024 $185.073M $4.648B $2.546B $2.083B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $67.738M ▼ $367.783M ▲ $-97.997M ▲ $-238.691M ▼ $30.899M ▲ $271.23M ▲
Q2-2025 $72.989M ▲ $227.636M ▲ $-135.719M ▼ $-109.832M ▼ $-17.613M ▼ $113.771M ▲
Q1-2025 $60.617M ▼ $153.526M ▼ $-96.501M ▲ $-56.422M ▲ $588K ▼ $45.116M ▼
Q4-2024 $74.752M ▼ $392.282M ▲ $-139.749M ▲ $-209.249M ▼ $43.058M ▲ $263.466M ▲
Q3-2024 $79.42M $111.743M $-144.7M $50.748M $17.807M $-19.966M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Commercial Vehicle
Commercial Vehicle
 $3.73Bn ▲$1.13Bn ▼$1.19Bn ▲$1.13Bn ▼
Commercial Vehicle Repair Service
Commercial Vehicle Repair Service
 $790.00M ▲$260.00M ▼$260.00M ▲$260.00M ▲
Financial Service
Financial Service
 $10.00M ▲$0 ▼$0 ▲$0 ▲
Insurance
Insurance
 $10.00M ▲$0 ▼$0 ▲$0 ▲
Parts
Parts
 $1.09Bn ▲$360.00M ▼$370.00M ▲$380.00M ▲
Product and Service Other
Product and Service Other
 $20.00M ▲$10.00M ▼$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Rush’s revenue has grown meaningfully over the past several years, reflecting expansion of its dealership and service footprint, though sales have leveled off more recently after a strong upcycle. Profitability has been solid, with healthy gross and operating margins for a dealer business, but earnings appear to have passed a peak and are now normalizing. Net income and earnings per share rose sharply coming out of 2020, then eased back in the last couple of years, suggesting some mix of softer pricing, higher costs, or a less favorable truck cycle. Overall, the income statement still shows a profitable, scaled operator, but with signs that the most favorable part of the cycle may be behind it for now.

Balance Sheet

Balance Sheet The balance sheet looks reasonably robust for an asset‑heavy, capital‑intensive business. Total assets have grown steadily as the company has invested in inventory, facilities, and its network. Equity has built up year after year, indicating that profits are being retained and the capital base is strengthening. Debt remains meaningful but not extreme for this type of business, and it has edged down recently, which slightly reduces financial risk. Cash levels are modest but appear adequate given the recurring nature of parts and service revenue and access to financing. Overall, the company carries leverage but is not overly stretched, with a balance sheet that supports continued operations and investment.

Cash Flow

Cash Flow Cash generation has been somewhat uneven, which is typical for a dealership and leasing model that must fund inventory and capital spending. Operating cash flow has fluctuated but remains positive over time, meaning the core business is generating real cash, not just accounting profits. Free cash flow, after investments in property and equipment, has swung between strong, modest, and occasionally negative, reflecting periods of heavier reinvestment into the network, trucks, and facilities. Recent years show higher capital spending, which weighs on free cash flow in the short term but can support service, leasing, and long‑term growth if executed well. Investors may want to watch how consistently earnings translate into cash, especially through different points in the truck cycle.

Competitive Edge

Competitive Edge Rush holds a very strong competitive position as the largest commercial vehicle dealership network in North America. Its scale, broad geographic coverage, and brand‑agnostic service capability make it a preferred partner for large fleets that operate many truck types across wide territories. The company’s “total solutions” model—covering sales, parts, service, leasing, financing, and insurance—creates multiple touchpoints with customers and generates recurring revenue that is less volatile than new vehicle sales alone. A high share of profit comes from aftermarket parts and service, which is more stable and deepens customer relationships. Key risks include the cyclical nature of trucking, intense competition from manufacturer‑owned networks, and the need to maintain strong relationships with OEM partners. Even so, Rush’s integrated, one‑stop model and extensive footprint give it a durable edge in its niche.

Innovation and R&D

Innovation and R&D Rush is not a traditional lab‑driven R&D company, but it is innovating heavily in technology, services, and new powertrains. The RushCare ecosystem—covering repair coordination, digital communication, online parts ordering, and telematics—turns the company into a data‑driven uptime partner rather than just a seller of trucks. This creates stickier relationships and can justify premium service positioning. Partnerships around telematics and alternative fuels, including natural gas and electric vehicles, position Rush to stay relevant as fleets decarbonize and trucks become more software‑ and data‑centric. Its specialized divisions and custom vehicle solutions further differentiate it in niche markets. The key question is execution: how well Rush can keep enhancing its digital platforms, scaling mobile and predictive service, and building capabilities in electric and eventually autonomous trucks while controlling costs and training its workforce.

Summary

Rush Enterprises combines a leading competitive position in commercial truck dealerships with a solid, if cyclical, financial profile. The business has grown significantly since 2020 and remains clearly profitable, though earnings have cooled from peak levels as industry conditions normalize. The balance sheet shows a growing equity base and manageable leverage, while cash flows reflect both the strength of the underlying operations and the demands of heavy reinvestment. Strategically, Rush’s biggest strengths are its vast network, high‑margin aftermarket and service operations, and its integrated RushCare technology platform, all of which deepen customer relationships and add resilience. At the same time, the company is exposed to economic cycles, truck demand swings, and rapid technological change in commercial vehicles. Its long‑term trajectory will likely depend on how effectively it can expand high‑margin service offerings, execute its technology roadmap, and adapt to the shift toward cleaner, more connected, and eventually more autonomous fleets.

NEWS

October 29, 2025 · 4:05 PM UTC

Rush Enterprises, Inc. Reports Third Quarter 2025 Results, Announces $0.19 Per Share Dividend

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October 2, 2025 · 4:05 PM UTC

Rush Enterprises, Inc. Conference Call Advisory for Third Quarter 2025 Earnings Results

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