Ryder System, Inc.

Rental & Leasing Services

RStrained8 of 11 basics passed

$238.60

+1.45%

Market cap $9.15B

$238.60

+1.45%

Market cap $9.15B

Ryder System Inc operates in three business segments: (1) Fleet Management Solutions which provides full-service leasing and leasing with flexible maintenance options, commercial rental and maintenance services of trucks, tractors and trailers to customers; (2) Supply Chain Solutions (SCS), which provides…

It is a $9.15B industrial company. Revenue grew 1.1% over the last year, it keeps 4¢ of every dollar of sales as profit, and its net debt equals ~10.8 years of free cash flow. It trades at 18.4× earnings — in the most expensive third of its own history.

Website: ryder.com
Location: Miami, FL
Employees: 51 600
Sector: Industrials

Share price · 3 years

$103.56 → $238.60+130.4%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $12.8B
Profit: keeps 4¢ of every $1 sold; $497M
Free cash flow: cash left after running the business; $687M
Net debt: debt minus cash on hand; $7.45B
P/E: years of profit in the price; 18.4
EPS: earnings per share, TTM; $10.96
Dividend: pays out 30% of profit · 22% of FCF; 1.62%
Shares: down 13% since 2019 — buybacks; 45.4M
Volatility: beta vs the market — under 1 swings less; 1.09

Revenue, last 10 years

52-week range

Low $160.20$238.60High $280.34

Today's price is 65% of the way from the year's low to its high.

P/E vs its history5y

18.5×median 14.6×

Higher than 85% of past days — in the most expensive third of its own history.

Valuation vs own history

P/E

18.5×

15%

P/S

0.7×

16%

EV/EBITDA

19.9×

65%

P/B

3.2×

11%

FCF yield

10.2%

82%

Share of the last ~5 years that was pricier than today (pricier than usual). Based on the daily valuation record.

Standing in Industrials

Size$9.15Btop 84%
Revenue growth+2%top 61%
Net margin4%top 86%
Return on equity17%top 58%
P/E18.4×top 26%
Dividend yield1.62%top 32%

Ranked against 130 Industrials companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong quality; Growth, Profitability, Health and Moat lag behind.

Valuation70

P/E vs own history85th pct · 0/25
FCF yield7.5% · 20/25
P/S0.7x · 25/25
EV/EBITDA6.0x · 25/25

Growth37

Revenue CAGR7.0% · 12/25
Net income CAGR-1.0% · 0/25
EPS CAGR ~5Yn/a · 0/25
Fwd implied growth31.2% · 25/25

Profitability36

ROIC7.8% · 5/25
ROE16.7% · 20/25
Net margin3.9% · 6/25
Operating margin7.8% · 5/25

Health15

Altman Zn/a · 0/25
Current ratio0.65 · 0/25
Interest coverage2.7x · 10/25
Net cash / debtD/A 45% · 5/25

Quality81

Piotroski F8/9 · 25/25
Beneish M-3.10 · 25/25
FCF conversion138% · 25/25
Margin stabilityσ 17.9% · 6/25

Moat11

ROIC >12% years2/9 yrs · 0/25
Median gross margin19.6% · 6/25
FCF-positive years3/10 yrs · 0/25
Worst-year net marginworst -1.5% · 5/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2022Financial
Revenue crossed $10B
$12.0B for the year
FY2022Financial
Best year on record
$867M net income
FY2016Financial
First recorded profitable year
$262M net income
FY2016Financial
Revenue already above $1B
$6.79B in first reported year

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$28 015 today — price return only

$12.7B revenue in FY2025

Profitable 5 years in a row

51 600 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (40.2%)
Piotroski F-Score 8/9 — fundamentally strong checklist

Watch-outs

Loss-making in 2 of the recent years
Net debt equals ~10.8 years of free cash flow

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

8 of 11 checks passed

Revenue growing — the company sells more than a year ago+1.1% YoY
Profitable — makes more than it spends$497M TTM
Profit growing — earnings are higher than last year-11.2% YoY
Generates cash — cash left after running and investing$687M TTM
Debt under control — could handle its obligations~10.8y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$9.15B market cap
Not printing shares — share count not ballooning — you keep your slice-13.2% shares over ~5y
Proven track record — years of profitability behind it8/10 profitable years
Financially stable — balance sheet not near distresshealth score 10/100
Pays a dividend — returns cash to shareholdersyield 1.62%
Valuation not extreme — price not wildly above earningsP/E 18.4

Peer comparisonRyder System, Inc. vs 6 largest industrials peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
R this company	$9.2B	18.4	+1.1%	3.9%	Strained
LRCX Lam Research Corp	$399.2B	54.9	+26.0%	31.3%	Strong
CAT Caterpillar Inc.	$368.0B	33.9	+18.4%	14.5%	Solid
RTX RTX Corporation	$251.3B	32.4	+11.8%	8.3%	Strained
DE Deere & Company	$167.7B	34.4	+8.3%	10.2%	Solid
ETN Eaton Corporation, plc	$167.2B	43.6	+15.5%	12.8%	Mixed
UNP Union Pacific Corp.	$166.8B	22.6	+4.2%	28.8%	Strained

Head-to-head: R vs LRCX · R vs CAT · R vs RTX

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 4Buy 9Hold 5

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $12.8B · net income $497M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$12.8B

YoY 1.1%

Net income (TTM)

$497M

Margin 3.9%

Gross margin

40.2%

Operating margin

7.8%

P/E ratio

18.4

Dividend yield

1.62%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	8.4	9.7	12.0	11.8	12.6	12.7
Gross profit	—	1.8	2.4	2.3	2.5	2.6
Operating income (EBIT)	—	0.7	1.2	0.6	0.7	0.7
Net income	-0.1	0.5	0.9	0.4	0.5	0.5
EPS (diluted)	-2.34	9.68	17.00	8.00	11.00	11.00

Cash flowFree cash flow $687M · operating cash flow $2.45B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$687M

Margin 5.4%

Operating cash flow (TTM)

$2.45B

FCF margin

5.4%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	2.2	2.2	2.3	2.4	2.3	2.6
Capital expenditure	-1.1	-1.9	-2.6	-3.2	-2.7	-2.1
Free cash flow	1.0	0.2	-0.3	-0.9	-0.4	0.5
FCF margin	12.3%	2.4%	-2.7%	-7.5%	-3.3%	3.6%

Balance sheetAssets $16.4B · net debt $7.45B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $16.4B of assets is financed

81%

19%

Liabilities $13.3B — borrowed moneyEquity $3.05B — owners' stake

Cash vs debt

Total debt $7.64B − cash $198M = net debt $7.45B

Cash on hand covers 3% of debt.

Debt repayment

0.0 yrs

Years of free cash flow to clear net debt

Interest coverage

2.7x

EBIT ÷ interest expense

ROE

16.7%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	0.2	0.2	0.3	0.2	0.2	0.2
Total assets	12.9	13.8	14.4	15.8	16.7	16.4
Total liabilities	10.7	11.0	11.5	12.7	13.6	13.3
Total debt	6.6	6.6	6.4	7.1	7.8	7.6
Equity	2.3	2.8	2.9	3.1	3.1	3.1
Net debt	6.5	6.3	6.1	6.9	7.6	7.4

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of R on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $238.60 · market cap $9.15B.