Ryder System, Inc.
- Open
- 268.98
- Day high
- 271.65
- Day low
- 265.75
- Prev close
- 269.63
- Volume
- 281K
- Mkt cap
- $10.4B
- P/E (TTM)
- 22.2
- EPS (TTM)
- $12.13
- P/B
- 3.6
- P/S
- 0.8
- Yield
- 1.35%
- Per share
- $3.64
- ▼Insiders net selling -$1.6M over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions mixed (13F)
Ryder System, Inc. (R) is a Industrials company listed on NYSE. The stock is up 53% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4).
Ryder System, Inc. (R) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
R earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $2.29 | $2.54 | +10.9% | $3.1B | -0.5% |
| Feb 11, 2026 | $3.66 | $3.59 | -1.9% | $3.2B | -0.8% |
| Oct 23, 2025 | $3.56 | $3.57 | +0.3% | $3.2B | -1.2% |
| Jul 24, 2025 | $3.11 | $3.32 | +6.8% | $3.2B | +0.4% |
| Apr 23, 2025 | $2.40 | $2.46 | +2.5% | $3.1B | -1.4% |
| Feb 12, 2025 | $3.39 | $3.45 | +1.8% | $3.2B | -2.7% |
| Oct 24, 2024 | $3.42 | $3.44 | +0.6% | $3.2B | -3.9% |
| Jul 25, 2024 | $2.87 | $3.00 | +4.5% | $3.2B | -1.9% |
| Feb 14, 2024 | $2.73 | $2.95 | +8.1% | $3.0B | +1.5% |
| Oct 25, 2023 | $3.22 | $3.58 | +11.2% | $2.9B | -2.1% |
| Jul 26, 2023 | $2.97 | $3.61 | +21.5% | $2.9B | -5.5% |
| Feb 15, 2023 | $3.50 | $3.89 | +11.1% | $3.2B | +5.6% |
R insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | SWOBODA CHARLES Mdirector | Grant | 108 | — |
| Jun 1, 2026 | Fatovic Robert Dofficer: EVP, CLO & Corp. Secretary | Sell | 5,000 | $249.85 |
| May 29, 2026 | HODES SANFORD J.officer: SVP, C Procur Of, Corp Dev Of | Sell | 595 | $251.95 |
| May 5, 2026 | HAGEMANN ROBERTdirector | Grant | 677 | — |
| May 5, 2026 | Hilton Michael Fdirector | Grant | 720 | — |
| May 5, 2026 | Lundgren Tamara L.director | Grant | 304 | — |
| May 5, 2026 | Nieto Luis P Jrdirector | Sell | 720 | $235.79 |
| May 5, 2026 | SWOBODA CHARLES Mdirector | Grant | 720 | — |
| May 5, 2026 | Romo Tammydirector | Grant | 712 | — |
| May 5, 2026 | STOCKTON DMITRI Ldirector | Grant | 720 | — |
| May 5, 2026 | HAGEMANN ROBERTdirector | Grant | 720 | — |
| May 5, 2026 | NORD DAVID Gdirector | Grant | 720 | — |
| May 5, 2026 | Nieto Luis P Jrdirector | Grant | 720 | — |
| May 5, 2026 | NORD DAVID Gdirector | Grant | 796 | — |
| May 5, 2026 | Eck Robert J.director | Grant | 720 | — |
Source: R SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full R insider & 13F page →Ryder System, Inc. company profile
Overview
Ryder System, Inc. (NYSE:R) is a leading logistics and transportation services company founded in 1933 and headquartered in Miami, Florida. The company has transformed from a traditional truck leasing business into a comprehensive supply chain solutions provider over its 90-year history. Ryder went public in 1980 and has evolved into a diversified logistics services company that operates across North America, serving customers ranging from small businesses to Fortune 500 companies. The company has strategically shifted its business model toward higher-margin, asset-light services while maintaining its core fleet management operations.
Business
Ryder operates as a comprehensive logistics and transportation services company through three primary business segments that collectively provide end-to-end supply chain solutions. Fleet Management Solutions (FMS) represents the company's traditional core business, generating approximately 50-55% of total revenue. This segment provides full-service leasing of commercial vehicles including trucks, tractors, and trailers, along with comprehensive maintenance services. The ChoiceLease product offers customers flexible leasing arrangements with maintenance included, eliminating the need for companies to own and maintain their own vehicle fleets. The segment also operates commercial vehicle rental services for short-term needs and provides fuel management services, centralized billing, and sells used vehicles through 63 retail centers and online platforms. Supply Chain Solutions (SCS) accounts for roughly 25-30% of revenue and focuses on warehouse and distribution management services. This segment designs and manages customers' distribution networks, coordinates warehousing operations, handles import/export logistics, and provides just-in-time component delivery to manufacturing facilities. The division also offers transportation management services including shipment optimization and last-mile delivery solutions. Recent acquisitions like Impact Fulfillment Services have expanded the company's e-commerce fulfillment capabilities. Dedicated Transportation Solutions (DTS) generates approximately 20-25% of revenue and provides customers with dedicated fleets, drivers, and comprehensive transportation management. This turnkey solution includes equipment, maintenance, qualified drivers, administrative support, routing and scheduling, safety compliance, and technology systems. The 2024 acquisition of Cardinal Logistics significantly expanded this segment's capabilities and market presence. The transportation and logistics industry serves as the backbone of commerce, enabling the movement of goods from manufacturers to consumers. Companies like Ryder address the complexity and capital intensity of maintaining transportation fleets and logistics operations, allowing customers to focus on their core business activities while outsourcing these specialized functions.
Revenue model
Ryder generates revenue through multiple complementary business models across its three segments. The Fleet Management Solutions segment operates on a leasing and service fee model, earning monthly lease payments for vehicle usage plus fees for maintenance, fuel management, and ancillary services. Revenue also comes from short-term rental fees and used vehicle sales, with gains on vehicle disposals providing additional income streams. The Supply Chain Solutions segment primarily uses a service fee model, charging customers for warehouse management, distribution services, and transportation coordination. This segment benefits from long-term contracts that provide recurring revenue streams, often with built-in cost escalation clauses to protect against inflation. The Dedicated Transportation Solutions segment combines asset deployment with service delivery, charging customers comprehensive fees that cover equipment, drivers, maintenance, and management services. This model typically involves multi-year contracts that provide stable, predictable revenue. Several factors influence Ryder's profitability margins. Positive margin drivers include lease pricing optimization initiatives, which management expects to generate $125 million in annual benefits, maintenance cost savings programs targeting $50 million annually, and the shift toward higher-margin contractual businesses. The company's strategic focus on asset-light services has increased the proportion of service revenue from 44% in 2018 to 60% in 2025. Margin pressures come from used vehicle market volatility, which affects residual values and disposal gains, competitive pricing in the freight market, driver wage inflation, and regulatory compliance costs. Economic downturns can reduce rental utilization rates and delay customer fleet expansion decisions. Fuel price volatility also impacts operations, though the company has fuel management programs to mitigate some exposure.
Competitive moat
Ryder's competitive moat is moderately strong, built primarily on operational scale, customer relationships, and switching costs. The company's extensive network of maintenance facilities, parts distribution centers, and service locations creates geographic advantages that are difficult for smaller competitors to replicate. With over 90 years in business, Ryder has developed deep relationships with commercial vehicle manufacturers, parts suppliers, and a large customer base, providing negotiating leverage and operational efficiencies. The switching costs for customers are meaningful but not insurmountable. Companies that outsource their fleet management to Ryder avoid the capital investment and operational complexity of maintaining their own fleets, but they could potentially switch to competitors or bring operations in-house, though this would require significant time and investment. Competitive threats come from several directions. Large logistics companies like Penske and other fleet management providers offer similar services, creating pricing pressure in commodity-like services. The rise of asset-light freight brokers and digital logistics platforms poses a threat to traditional models. Additionally, some large customers may choose to internalize fleet operations during economic downturns to maintain control over costs. The company's moat is strongest in its specialized supply chain solutions and dedicated transportation services, where operational expertise and long-term customer relationships create higher barriers to entry. However, the core fleet leasing business faces more intense competition and commoditization pressures, requiring continuous operational improvements and pricing discipline to maintain margins.
Risks & safety
Ryder's margin of safety appears moderate, with some financial strength offset by high leverage and cyclical business exposure. • **Liquidity and Solvency**: Cash position of $151 million is relatively low given the company's size, but strong operating cash flow of $651 million in Q1 2025 provides adequate liquidity. Current ratio of 0.73 indicates working capital constraints, though this is typical for asset-heavy businesses. • **Debt Levels**: Debt-to-equity ratio of 2.94 is quite high, reflecting the capital-intensive nature of the fleet business. Total liabilities of $13.4 billion against $16.4 billion in assets shows significant leverage, though much of this relates to fleet financing. • **Valuation Metrics**: Trading at 15.3x P/E ratio and 5.3x EV/EBITDA suggests reasonable valuation relative to earnings. Price-to-book ratio of 2.0x indicates some premium to book value. • **Profitability**: Return on equity of 16% demonstrates strong profitability, though this varies significantly with economic cycles. EBITDA margins around 22% provide reasonable operating leverage. • **Other Considerations**: The cyclical nature of the transportation industry creates earnings volatility, and exposure to used vehicle values adds residual risk to the business model.
Recent development
Over the past few years, Ryder has executed a strategic transformation focused on shifting toward higher-margin, asset-light businesses while optimizing its traditional fleet operations. The company has successfully increased its service revenue mix from 44% in 2018 to 60% in 2025, demonstrating progress in this strategic pivot. Key acquisitions have expanded capabilities in growth segments. The 2024 acquisition of Cardinal Logistics significantly enhanced the Dedicated Transportation Solutions segment, contributing to 46% revenue growth in that division. The purchase of Impact Fulfillment Services (IFS) strengthened e-commerce fulfillment capabilities within Supply Chain Solutions, positioning the company for growth in online retail logistics. Operational excellence initiatives are targeting substantial cost savings and revenue optimization. Management expects to generate $150 million in annual pretax earnings benefits from strategic initiatives, including lease pricing optimization worth $125 million annually and maintenance cost savings of $50 million. The Cardinal acquisition is expected to contribute $40-60 million in annual synergies. Technology investments include the development of the RyderGuide digital platform for fleet management and continued investment through RyderVentures to support innovation. The company has also expanded its omnichannel retail warehouse network optimization and enhanced its used vehicle sales platform. Geographic expansion includes growing operations in Mexico to capitalize on nearshoring trends, with current Mexico operations generating $275 million in revenue and showing strong pipeline activity in automotive and industrial sectors.
R company profile · for informational purposes only — not investment advice.
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