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Rush Enterprises, Inc.

RUSHB

Rush Enterprises, Inc. • NASDAQ
$53.37 ▲ 0.19% (+0.10)
Market Cap $4.11 B
52w High $61.55
52w Low $47.71
Dividend Yield 0.74%
P/E 15.84
Volume 19.65K
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 Q3-2024Q4-2024Q1-2025Q2-2025
Commercial Vehicle
Commercial Vehicle
 $1.16Bn ▲$2.60Bn ▲$1.13Bn ▼$1.19Bn ▲
Commercial Vehicle Repair Service
Commercial Vehicle Repair Service
 $280.00M ▲$520.00M ▲$260.00M ▼$260.00M ▲
Financial Service
Financial Service
 $0 ▲$0 ▲$0 ▲$0 ▲
Insurance
Insurance
 $0 ▲$10.00M ▲$0 ▼$0 ▲
Parts
Parts
 $350.00M ▲$720.00M ▲$360.00M ▼$370.00M ▲
Product and Service Other
Product and Service Other
 $0 ▲$10.00M ▲$10.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown meaningfully over the last five years, helped by both truck demand and a strong parts and service business. Growth has cooled more recently, with sales roughly flat compared with the prior couple of years, suggesting the business may be moving through a more normal phase after a very strong cycle. Profitability has been solid but appears to have peaked in the earlier part of this period. Operating profit and cash earnings have remained healthy, yet net income and earnings per share have eased back from their high point, even though they are still well above pre‑pandemic levels. This pattern fits a cyclical business that benefited from unusually strong conditions and is now normalizing. Overall, the income statement shows a company that is still profitable and scaled, but with earnings no longer at their prior peak and some margin pressure compared with the best year in the set.

Balance Sheet

Balance Sheet The balance sheet looks reasonably strong for a dealer group. Total assets and shareholders’ equity have climbed steadily over the five‑year period, indicating consistent reinvestment in the business and retained profits. Debt has increased over time but at a slower pace than equity, and recently nudged down. This suggests leverage is being kept within a moderate range rather than aggressively ramped up. Cash balances move around but remain a relatively small part of total assets, which is typical for an operating business of this type. In plain language, Rush appears to be funding growth with a balanced mix of debt and equity, without obvious signs of over‑stretching the balance sheet.

Cash Flow

Cash Flow Cash generation from day‑to‑day operations has been consistently positive, though somewhat volatile from year to year. That volatility likely reflects swings in inventory and working capital, which is common in vehicle distribution. Free cash flow has generally been positive over the five‑year span, with one notably weak year when outflows for investment and working capital outweighed inflows. Capital spending has been climbing, reflecting ongoing investment in locations, equipment, and technology. Put simply, the company tends to earn more cash than it spends over time, but investors should expect lumpiness in any single year because of the capital‑intensive and inventory‑heavy nature of the business.

Competitive Edge

Competitive Edge Rush holds a leading position as the largest commercial vehicle dealership network in North America, which gives it scale, brand recognition, and strong relationships with large fleets. Its extensive footprint makes it convenient for customers that operate across multiple regions, a meaningful edge over smaller, regional competitors. The “one‑stop‑shop” model is a key strength: Rush sells vehicles, provides financing and insurance, offers leasing and rentals, and captures ongoing high‑margin parts and service work. That mix makes its revenue base more resilient than relying mainly on new truck sales, which are very cyclical. The main competitive risks are the inherent cyclicality of truck demand, dependence on OEM partners, and the need to keep up with rapid changes in vehicle technology and emissions rules. Still, the combination of scale, service intensity, and brand reputation gives Rush a durable competitive position in its niche.

Innovation and R&D

Innovation and R&D Rush is not a classic “R&D lab” company, but it invests heavily in service technology, data, and technician capabilities. The RushCare platforms, telematics partnerships, and online parts portals are all aimed at reducing downtime and making fleet management more data‑driven and transparent for customers. Its work with telematics and predictive maintenance, plus around‑the‑clock digital access to service status and parts availability, helps lock in customer relationships and differentiates Rush from more traditional dealerships. Continuous technician training and advanced diagnostics further support this edge. Rush is also leaning into alternative fuels and electrification, including a joint venture around cleaner fuel systems and relationships with emerging electric truck platforms. Future growth may come from expanding software‑driven fleet services, deeper data analytics, and selective acquisitions that broaden its network and technology capabilities.

Summary

Rush Enterprises shows the profile of a mature, scaled industry leader in a cyclical market. Revenue has grown strongly over the last five years, but profits have come off earlier highs as conditions normalize. Even so, profitability remains clearly better than before the pandemic. Its balance sheet looks prudent, with rising equity and manageable debt, and cash flows broadly support the growth strategy despite year‑to‑year swings. The company’s real strength lies in its integrated model: combining truck sales with parts, service, financing, leasing, and technology solutions to create sticky, recurring customer relationships. Innovation is focused on practical value—keeping trucks on the road, using data to manage fleets, and preparing for cleaner and more connected vehicles. Key uncertainties are the usual truck‑cycle swings, capital intensity, and the pace of technology and regulatory change. Overall, Rush appears to be a financially solid, competitively entrenched operator that is actively investing to stay relevant as commercial transportation evolves.

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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