Ryder System (R) Financials

$232.04 +4.74 (+2.09%)

As of 01:54 PM Eastern

Annual Income Statements for Ryder System

This table shows Ryder System's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	305	4,447	8,832	285	-8,992	-122	519	867	406	489	499
Consolidated Net Income / (Loss)	305	263	720	285	-24	-122	519	867	406	489	499
Net Income / (Loss) Continuing Operations	306	265	720	287	-23	-112	522	863	406	489	501
Total Pre-Tax Income	469	407	296	389	-42	-130	693	1,216	618	661	685
Total Operating Income	609	4,726	8,506	565	222	109	841	1,412	1,055	1,013	1,063
Total Gross Profit	1,585	5,685	9,554	1,567	1,310	1,275	2,059	2,840	2,495	2,545	2,578
Total Revenue	6,572	13,516	15,392	8,392	8,926	8,420	9,920	12,461	11,979	12,636	12,665
Operating Revenue	6,572	13,516	15,392	8,392	8,926	8,420	9,920	12,461	11,979	12,636	12,665
Total Cost of Revenue	4,987	7,831	5,838	6,824	7,616	7,145	7,861	9,621	9,484	10,091	10,087
Operating Cost of Revenue	4,987	7,831	5,838	6,824	7,616	7,145	7,861	9,621	9,484	10,091	10,087
Total Operating Expenses	976	959	1,048	1,003	1,088	1,166	1,218	1,428	1,440	1,532	1,515
Selling, General & Admin Expense	823	804	871	849	907	1,044	1,187	1,415	1,421	1,478	1,470
Other Operating Expenses / (Income)	135	151	143	132	181	11	-1.00	11	40	41	36
Restructuring Charge	18	5.07	17	22	-	111	32	2.00	-21	13	9.00
Total Other Income / (Expense), net	-140	-135	-98	-175	-9,232	-239	-148	-196	-437	-352	-378
Interest Expense	150	148	142	180	241	261	214	228	296	386	404
Other Income / (Expense), net	10	13	44	5.42	-23	22	66	32	-141	34	26
Income Tax Expense	163	142	-424	103	-19	-18	171	353	212	172	184
Net Income / (Loss) Discontinued Operations	-1.22	-2.16	-0.46	-2.31	-1.14	-10	-3.00	4.00	0.00	0.00	-2.00
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	-	-	-	-	-	0.00	0.00	-	0.00	0.00
Basic Earnings per Share	$5.75	$4.95	$13.63	$5.41	($0.47)	($2.34)	$9.87	$17.41	$8.89	$11.29	$12.15
Weighted Average Basic Shares Outstanding	52.81M	53.02M	52.61M	53.12M	53.27M	53.70M	53.80M	46.29M	43.91M	42.08M	39.43M
Diluted Earnings per Share	$5.71	$4.91	$13.53	$5.38	-	($2.34)	$9.66	$17.04	$8.73	$11.06	$11.94
Weighted Average Diluted Shares Outstanding	52.81M	53.02M	52.61M	53.12M	53.27M	53.70M	53.80M	46.29M	43.91M	42.08M	39.43M
Weighted Average Basic & Diluted Shares Outstanding	52.81M	53.02M	52.61M	53.12M	53.27M	53.70M	53.80M	46.29M	43.91M	42.08M	39.43M
Cash Dividends to Common per Share	$1.56	$1.70	$1.80	$2.12	$2.20	$2.24	$2.28	$2.40	$2.66	$3.04	$3.44

This table shows Ryder System's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	161	124	85	127	142	135	98	131	138	132	93
Consolidated Net Income / (Loss)	161	124	85	127	142	135	98	131	138	132	93
Net Income / (Loss) Continuing Operations	160	124	85	126	143	135	98	132	139	132	93
Total Pre-Tax Income	213	160	114	178	188	181	134	184	190	177	118
Total Operating Income	283	233	191	270	276	276	240	273	278	272	216
Total Gross Profit	644	612	585	648	655	657	616	660	668	634	606
Total Revenue	2,971	3,045	3,118	3,201	3,183	3,221	3,140	3,187	3,174	3,164	3,138
Operating Revenue	2,971	3,045	3,118	3,201	3,183	3,221	3,140	3,187	3,174	3,164	3,138
Total Cost of Revenue	2,327	2,433	2,533	2,553	2,528	2,564	2,524	2,527	2,506	2,530	2,532
Operating Cost of Revenue	2,327	2,433	2,533	2,553	2,528	2,564	2,524	2,527	2,506	2,530	2,532
Total Operating Expenses	361	379	394	378	379	381	376	387	390	362	390
Selling, General & Admin Expense	347	368	378	368	368	364	368	378	380	344	380
Other Operating Expenses / (Income)	10	10	11	10	10	10	9.00	9.00	10	8.00	9.00
Restructuring Charge	4.00	1.00	5.00	0.00	1.00	7.00	-1.00	0.00	0.00	10	1.00
Total Other Income / (Expense), net	-70	-73	-77	-92	-88	-95	-106	-89	-88	-95	-98
Interest Expense	75	84	92	96	98	100	100	102	102	100	97
Other Income / (Expense), net	5.00	11	15	4.00	10	5.00	-6.00	13	14	5.00	-1.00
Income Tax Expense	53	36	29	52	45	46	36	52	51	45	25
Net Income / (Loss) Discontinued Operations	1.00	-	0.00	1.00	-1.00	-	0.00	-1.00	-1.00	-	0.00
Basic Earnings per Share	$3.55	$2.75	$1.93	$2.89	$3.30	$3.17	$2.32	$3.18	$3.38	$3.27	$2.36
Weighted Average Basic Shares Outstanding	44.32M	43.91M	43.83M	43.28M	42.29M	42.08M	41.34M	40.79M	40.38M	39.43M	38.69M
Diluted Earnings per Share	$3.47	$2.72	$1.89	$2.84	$3.24	$3.09	$2.27	$3.13	$3.32	$3.22	$2.33
Weighted Average Diluted Shares Outstanding	44.32M	43.91M	43.83M	43.28M	42.29M	42.08M	41.34M	40.79M	40.38M	39.43M	38.69M
Weighted Average Basic & Diluted Shares Outstanding	44.32M	43.91M	43.83M	43.28M	42.29M	42.08M	41.34M	40.79M	40.38M	39.43M	38.69M
Cash Dividends to Common per Share	$0.71	-	$0.71	$0.71	$0.81	-	$0.81	$0.81	$0.91	-	$0.91

This table details how cash moves in and out of Ryder System's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	11	-1.73	22	-18	3.21	73	521	-405	-63	-50	44
Net Cash From Operating Activities	1,442	1,601	1,628	1,718	2,141	2,181	2,175	2,310	2,353	2,265	2,594
Net Cash From Continuing Operating Activities	1,442	1,601	1,628	1,718	2,141	2,181	2,175	2,310	2,353	2,265	2,594
Net Income / (Loss) Continuing Operations	306	265	720	287	-23	-112	522	863	406	489	501
Consolidated Net Income / (Loss)	305	263	720	285	-24	-122	519	867	406	489	499
Net Income / (Loss) Discontinued Operations	-1.22	-2.16	-0.46	-2.31	-1.14	-10	-3.00	4.00	0.00	0.00	-2.00
Depreciation Expense	1,122	1,187	1,258	1,389	1,879	2,027	1,786	1,713	1,712	1,694	1,703
Amortization Expense	53	39	41	68	101	116	25	118	373	534	537
Non-Cash Adjustments To Reconcile Net Income	-61	55	212	241	360	247	283	391	398	231	241
Changes in Operating Assets and Liabilities, net	22	55	-603	-266	-177	-97	-441	-775	-536	-683	-388
Net Cash From Investing Activities	-2,161	-1,407	-1,439	-2,821	-3,217	-601	-1,450	-1,850	-2,663	-2,446	-1,650
Net Cash From Continuing Investing Activities	-2,161	-1,407	-1,439	-2,821	-3,217	-601	-1,450	-1,850	-2,663	-2,446	-1,650
Purchase of Property, Plant & Equipment	-2,668	-1,905	-1,860	-3,050	-3,735	-1,146	-1,941	-2,631	-3,234	-2,683	-2,135
Acquisitions	0.00	0.00	-7.24	-167	0.00	0.00	-325	-458	-250	-314	-1.00
Sale of Property, Plant & Equipment	427	421	52	396	518	552	822	1,235	827	551	486
Other Investing Activities, net	79	77	377	0.00	0.00	-7.00	-6.00	4.00	-6.00	0.00	0.00
Net Cash From Financing Activities	731	-186	-162	1,086	1,084	-1,507	-204	-861	256	153	-912
Net Cash From Continuing Financing Activities	731	-186	-162	1,086	1,084	-1,507	-204	-861	256	153	-912
Repayment of Debt	-809	-751	-971	-1,128	-1,796	-3,074	-615	-1,558	-1,588	-1,190	-1,128
Repurchase of Common Equity	-6.14	-37	-78	-31	-28	-29	-57	-557	-337	-321	-519
Payment of Dividends	-83	-91	-96	-112	-116	-119	-122	-123	-128	-135	-145
Issuance of Debt	1,607	675	963	2,357	3,016	1,707	560	1,363	2,307	1,789	892
Issuance of Common Equity	24	18	21	-	8.22	-	30	14	2.00	10	-12
Effect of Exchange Rate Changes	0.04	-9.48	-5.54	-	-4.27	-	-1.00	-4.00	-9.00	-21	13

This table details how cash moves in and out of Ryder System's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-59	45	30	-70	-2.00	-8.00	-3.00	29	9.00	9.00	-16
Net Cash From Operating Activities	621	511	526	552	629	558	651	752	442	749	583
Net Cash From Continuing Operating Activities	621	511	526	552	629	558	651	752	442	749	583
Net Income / (Loss) Continuing Operations	160	124	85	127	142	135	98	132	138	133	93
Consolidated Net Income / (Loss)	161	124	85	127	142	135	98	130	139	132	93
Net Income / (Loss) Discontinued Operations	-	-	0.00	-	-	-	0.00	-2.00	1.00	-1.00	0.00
Depreciation Expense	417	438	424	428	423	419	425	420	429	429	432
Amortization Expense	23	35	131	34	37	50	136	134	126	141	129
Non-Cash Adjustments To Reconcile Net Income	116	137	58	178	133	164	54	62	63	62	62
Changes in Operating Assets and Liabilities, net	-95	-223	-172	-215	-106	-210	-62	4.00	-314	-16	-133
Net Cash From Investing Activities	-607	-849	-810	-495	-497	-644	-393	-550	-407	-300	-321
Net Cash From Continuing Investing Activities	-607	-849	-810	-495	-497	-644	-393	-550	-407	-300	-321
Purchase of Property, Plant & Equipment	-805	-777	-686	-638	-598	-761	-514	-689	-527	-405	-427
Acquisitions	-	-250	-297	-	-16	-1.00	-1.00	-	-	-	-11
Sale of Property, Plant & Equipment	200	180	173	144	116	118	122	138	120	106	117
Net Cash From Financing Activities	-69	382	316	-122	-129	88	-261	-183	-25	-443	-277
Net Cash From Continuing Financing Activities	-69	382	316	-122	-129	88	-261	-183	-25	-443	-277
Repayment of Debt	-18	-440	-765	-108	-580	263	-19	-456	-469	-184	-14
Repurchase of Common Equity	-149	-55	-51	-90	-141	-39	-167	-94	-89	-169	-233
Payment of Dividends	-33	-32	-35	-31	-35	-34	-38	-33	-37	-37	-39
Issuance of Debt	112	908	1,184	90	621	-106	-14	393	571	-58	33
Issuance of Common Equity	19	1.00	-17	17	6.00	4.00	-23	7.00	-1.00	5.00	-24
Effect of Exchange Rate Changes	-4.00	1.00	-2.00	-5.00	-5.00	-9.00	0.00	10	-	3.00	-1.00

This table presents Ryder System's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	10,953	10,902	11,464	13,348	14,475	12,932	13,835	14,395	15,778	16,672	16,387
Total Current Assets	1,098	1,102	1,323	1,568	1,562	1,596	2,461	2,200	2,265	2,463	2,473
Cash & Equivalents	61	59	78	68	74	151	234	267	204	154	198
Accounts Receivable	835	832	1,011	1,242	1,228	1,182	1,465	1,610	1,714	1,861	1,897
Prepaid Expenses	138	141	160	178	179	201	693	323	347	448	378
Plant, Property, & Equipment, net	715	746	777	862	0.00	0.00	9,308	9,338	10,109	10,390	10,166
Total Noncurrent Assets	9,139	9,055	9,364	10,918	12,913	11,336	2,066	2,857	3,404	3,819	3,748
Noncurrent Note & Lease Receivables	510	472	571	968	1,042	1,114	-	986	1,052	1,149	1,184
Goodwill	389	387	396	475	475	475	571	861	940	1,158	1,152
Intangible Assets	55	48	43	59	51	43	171	295	396	457	412
Other Noncurrent Operating Assets	8,185	8,148	8,355	9,416	11,345	9,704	1,324	715	1,016	1,055	1,000
Total Liabilities & Shareholders' Equity	10,953	10,902	11,464	13,348	14,475	12,932	13,835	14,395	15,778	16,672	16,387
Total Liabilities	8,965	8,850	8,622	10,811	11,999	10,676	11,037	11,458	12,709	13,555	13,335
Total Current Liabilities	1,680	1,744	2,015	2,517	2,625	2,053	3,201	3,316	3,649	3,271	2,778
Short-Term Debt	635	791	826	937	1,155	517	1,333	1,349	1,583	1,120	819
Accounts Payable	1,046	953	1,189	1,580	1,471	1,537	1,868	1,967	2,066	2,151	1,959
Total Noncurrent Liabilities	7,285	7,106	6,607	8,294	9,374	8,623	7,836	8,142	9,060	10,284	10,557
Long-Term Debt	4,868	4,600	4,584	5,712	6,770	6,094	5,247	5,003	5,531	6,659	6,826
Noncurrent Deferred & Payable Income Tax Liabilities	1,588	1,689	1,211	1,180	1,161	1,126	1,275	1,571	1,658	1,671	1,808
Other Noncurrent Operating Liabilities	830	818	813	1,403	1,442	1,404	1,314	1,568	1,871	1,954	1,923
Commitments & Contingencies	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,987	2,052	2,842	2,537	2,476	2,256	2,798	2,937	3,069	3,117	3,052
Total Preferred & Common Equity	1,987	2,052	2,842	2,537	2,476	2,256	2,798	2,937	3,069	3,117	3,052
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,987	2,052	2,842	2,537	2,476	2,256	2,798	2,937	3,069	3,117	3,052
Common Stock	1,033	1,059	1,077	1,111	1,135	1,160	1,221	1,215	1,170	1,165	1,103
Retained Earnings	1,667	1,827	2,472	2,337	2,178	1,913	2,266	2,518	2,554	2,644	2,569
Accumulated Other Comprehensive Income / (Loss)	-713	-834	-708	-912	-836	-817	-689	-796	-655	-692	-620

This table presents Ryder System's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	14,499	14,543	14,971	15,330	16,481	16,408	16,497	16,421	16,470	16,548	16,228
Total Current Assets	2,339	2,260	2,117	2,112	2,406	2,371	2,381	2,328	2,340	2,608	2,486
Cash & Equivalents	456	253	218	159	234	164	162	151	180	189	182
Accounts Receivable	1,621	1,682	1,572	1,647	1,814	1,861	1,869	1,825	1,853	2,125	1,932
Prepaid Expenses	183	251	253	231	358	346	350	352	307	294	372
Plant, Property, & Equipment, net	1,118	9,346	9,927	10,039	10,209	10,176	1,197	1,186	1,196	10,244	9,996
Total Noncurrent Assets	11,043	2,937	2,927	3,179	3,866	3,861	12,919	12,907	12,934	3,696	3,746
Noncurrent Note & Lease Receivables	1,603	1,115	1,019	1,071	1,090	1,112	1,125	1,150	1,170	1,175	1,191
Goodwill	868	861	861	860	1,017	1,115	1,126	1,161	1,152	1,152	1,158
Intangible Assets	298	288	281	274	569	490	480	443	439	425	403
Other Noncurrent Operating Assets	8,274	673	766	974	1,190	1,144	10,188	10,153	10,173	944	994
Total Liabilities & Shareholders' Equity	14,499	14,543	14,971	15,330	16,481	16,408	16,497	16,421	16,470	16,548	16,228
Total Liabilities	11,488	11,538	11,875	12,233	13,416	13,327	13,441	13,418	13,396	13,454	13,370
Total Current Liabilities	3,202	3,755	3,411	3,987	2,918	3,184	3,211	3,197	2,869	2,560	3,668
Short-Term Debt	1,049	1,674	1,330	1,888	741	1,086	975	1,114	734	577	1,718
Accounts Payable	2,153	2,081	2,081	2,099	2,177	2,098	2,236	2,083	2,135	1,983	1,950
Total Noncurrent Liabilities	8,287	7,783	8,464	8,246	10,498	10,143	10,230	10,221	10,527	10,894	9,702
Long-Term Debt	5,285	4,666	5,195	4,733	6,802	6,450	6,628	6,651	6,993	7,280	5,974
Noncurrent Deferred & Payable Income Tax Liabilities	1,492	1,610	1,665	1,700	1,633	1,640	1,628	1,657	1,632	1,772	1,812
Other Noncurrent Operating Liabilities	1,509	1,507	1,604	1,813	2,063	2,053	1,974	1,913	1,902	1,842	1,916
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,011	3,005	3,096	3,097	3,065	3,081	3,056	3,003	3,074	3,094	2,858
Total Preferred & Common Equity	3,011	3,005	3,096	3,097	3,065	3,081	3,056	3,003	3,074	3,094	2,858
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	3,011	3,005	3,096	3,097	3,065	3,081	3,056	3,003	3,074	3,094	2,858
Common Stock	1,252	1,191	1,177	1,171	1,151	1,163	1,157	1,119	1,120	1,116	1,058
Retained Earnings	2,531	2,596	2,489	2,505	2,568	2,589	2,577	2,569	2,590	2,615	2,422
Accumulated Other Comprehensive Income / (Loss)	-772	-782	-570	-579	-654	-671	-678	-685	-636	-637	-622

This table displays calculated financial ratios and metrics derived from Ryder System's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.01%	105.67%	13.88%	-45.48%	6.37%	-5.67%	17.81%	25.61%	-3.87%	6.09%	0.23%
EBITDA Growth	13.76%	232.39%	65.11%	-79.42%	7.54%	4.34%	19.53%	20.49%	-16.70%	6.34%	1.65%
EBIT Growth	28.23%	664.81%	80.42%	-93.33%	-65.07%	-34.21%	592.37%	59.21%	-36.70%	14.55%	4.01%
NOPAT Growth	30.00%	674.50%	571.23%	-97.99%	-62.63%	-50.91%	730.25%	58.19%	-30.84%	8.13%	3.74%
Net Income Growth	39.58%	-13.68%	173.56%	-60.45%	-108.58%	-399.80%	525.41%	67.05%	-53.17%	20.44%	2.05%
EPS Growth	38.93%	-14.01%	175.56%	-60.24%	0.00%	0.00%	512.82%	76.40%	-48.77%	26.69%	7.96%
Operating Cash Flow Growth	4.26%	11.04%	1.69%	5.52%	24.60%	1.89%	-0.28%	6.21%	1.86%	-3.74%	14.53%
Free Cash Flow Firm Growth	75.15%	687.26%	536.52%	-102.66%	-99.37%	260.22%	-87.93%	451.09%	-123.48%	94.85%	7,606.42%
Invested Capital Growth	14.30%	-0.59%	10.67%	11.56%	13.27%	-15.62%	4.93%	-1.33%	10.61%	7.65%	-2.26%
Revenue Q/Q Growth	0.25%	100.82%	51.16%	-57.65%	-19.53%	34.28%	6.16%	5.23%	0.59%	1.40%	-0.33%
EBITDA Q/Q Growth	7.14%	232.14%	1,126.58%	-86.66%	-3.67%	8.34%	5.72%	3.04%	-4.08%	1.15%	12.28%
EBIT Q/Q Growth	18.39%	693.77%	1,872.14%	-95.85%	-62.39%	205.92%	27.42%	4.92%	-10.83%	3.66%	-0.37%
NOPAT Q/Q Growth	18.34%	716.52%	6,641.09%	-98.64%	-92.84%	104.88%	26.76%	3.26%	-7.67%	3.44%	-0.39%
Net Income Q/Q Growth	27.16%	-9.44%	265.59%	-61.76%	-117.31%	39.41%	42.64%	2.97%	-16.80%	2.30%	-0.60%
EPS Q/Q Growth	26.89%	-9.91%	266.67%	-61.60%	0.00%	0.00%	0.00%	0.00%	-14.24%	3.46%	1.10%
Operating Cash Flow Q/Q Growth	-2.13%	2.93%	2.90%	-1.12%	5.36%	-2.98%	0.26%	1.49%	-0.55%	2.12%	7.95%
Free Cash Flow Firm Q/Q Growth	7.76%	1,819.13%	8,621.10%	-101.83%	-190.54%	632.50%	-81.53%	195.91%	-428.87%	93.63%	97.95%
Invested Capital Q/Q Growth	1.38%	-2.08%	9.57%	-0.25%	1.77%	-2.12%	10.19%	1.50%	4.39%	2.33%	-2.44%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	24.12%	42.06%	62.07%	18.68%	14.68%	15.14%	20.76%	22.79%	20.83%	20.03%	20.36%
EBITDA Margin	27.31%	44.13%	63.99%	24.15%	24.42%	27.01%	27.40%	26.28%	22.77%	22.83%	26.29%
Operating Margin	9.27%	34.97%	55.26%	6.73%	2.49%	1.29%	8.48%	11.33%	8.81%	7.97%	8.39%
EBIT Margin	9.43%	35.06%	55.55%	6.79%	2.23%	1.56%	9.14%	11.59%	7.63%	8.24%	8.60%
Profit (Net Income) Margin	4.64%	1.95%	4.68%	3.39%	-0.27%	-1.45%	5.23%	6.96%	3.39%	3.85%	3.94%
Tax Burden Percent	64.95%	64.59%	242.77%	73.08%	57.75%	93.85%	74.89%	71.30%	65.70%	73.98%	72.85%
Interest Burden Percent	75.72%	8.59%	3.47%	68.33%	-21.23%	-99.24%	76.41%	84.21%	67.61%	63.13%	62.90%
Effective Tax Rate	34.79%	34.86%	-142.92%	26.33%	0.00%	0.00%	24.68%	29.03%	34.30%	26.02%	26.86%
Return on Invested Capital (ROIC)	5.71%	41.56%	265.63%	4.81%	1.60%	0.80%	7.09%	11.03%	7.30%	7.23%	7.32%
ROIC Less NNEP Spread (ROIC-NNEP)	3.88%	-10.70%	-108.41%	2.61%	-0.89%	-1.97%	5.31%	8.86%	2.88%	3.65%	3.63%
Return on Net Nonoperating Assets (RNNOA)	10.31%	-28.54%	-236.22%	5.77%	-2.57%	-5.96%	13.45%	19.20%	6.22%	8.58%	8.86%
Return on Equity (ROE)	16.01%	13.03%	29.41%	10.58%	-0.97%	-5.16%	20.54%	30.24%	13.52%	15.81%	16.18%
Cash Return on Invested Capital (CROIC)	-7.63%	42.16%	255.50%	-6.12%	-10.84%	17.74%	2.28%	12.38%	-2.78%	-0.13%	9.61%
Operating Return on Assets (OROA)	5.96%	43.37%	76.46%	4.59%	1.43%	0.96%	6.78%	10.23%	6.06%	6.45%	6.59%
Return on Assets (ROA)	2.93%	2.41%	6.44%	2.29%	-0.18%	-0.89%	3.88%	6.14%	2.69%	3.01%	3.02%
Return on Common Equity (ROCE)	16.01%	13.03%	29.41%	10.58%	-0.97%	-5.16%	20.54%	30.24%	13.52%	15.81%	16.18%
Return on Equity Simple (ROE_SIMPLE)	15.34%	12.82%	25.32%	11.22%	-0.99%	-5.41%	18.55%	29.52%	13.23%	15.69%	0.00%
Net Operating Profit after Tax (NOPAT)	397	3,078	20,663	416	155	76	633	1,002	693	749	777
NOPAT Margin	6.05%	22.78%	134.24%	4.96%	1.74%	0.91%	6.39%	8.04%	5.79%	5.90%	6.14%
Net Nonoperating Expense Percent (NNEP)	1.83%	52.26%	374.04%	2.20%	2.49%	2.77%	1.79%	2.17%	4.42%	3.58%	3.70%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	10.79%	6.81%	6.88%	7.27%
Cost of Revenue to Revenue	75.88%	57.94%	37.93%	81.32%	85.32%	84.86%	79.24%	77.21%	79.17%	79.97%	79.64%
SG&A Expenses to Revenue	12.52%	5.95%	5.66%	10.12%	10.17%	12.40%	11.97%	11.36%	11.86%	11.63%	11.61%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	14.85%	7.10%	6.81%	11.95%	12.19%	13.85%	12.28%	11.46%	12.02%	12.06%	11.96%
Earnings before Interest and Taxes (EBIT)	620	4,739	8,550	570	199	131	907	1,444	914	1,047	1,089
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,795	5,965	9,849	2,026	2,179	2,274	2,718	3,275	2,728	2,901	3,329
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.15	1.50	1.24	0.82	1.00	1.33	1.47	1.36	1.62	2.13	2.53
Price to Tangible Book Value (P/TBV)	1.48	1.91	1.47	1.04	1.26	1.72	2.00	2.24	2.88	4.42	5.19
Price to Revenue (P/Rev)	0.35	0.23	0.23	0.25	0.28	0.36	0.41	0.32	0.42	0.52	0.61
Price to Earnings (P/E)	7.52	0.69	0.40	7.35	0.00	0.00	7.91	4.60	12.27	13.57	15.49
Dividend Yield	3.64%	2.95%	2.70%	5.38%	4.76%	4.03%	2.98%	3.02%	2.37%	1.94%	1.80%
Earnings Yield	13.31%	144.35%	249.76%	13.61%	0.00%	0.00%	12.64%	21.73%	8.15%	7.37%	6.46%
Enterprise Value to Invested Capital (EV/IC)	1.04	1.14	1.09	0.95	1.00	1.08	1.14	1.12	1.19	1.33	1.45
Enterprise Value to Revenue (EV/Rev)	1.18	0.62	0.58	1.03	1.16	1.12	1.05	0.81	0.99	1.12	1.20
Enterprise Value to EBITDA (EV/EBITDA)	4.31	1.41	0.90	4.28	4.73	4.16	3.85	3.08	4.36	4.92	4.56
Enterprise Value to EBIT (EV/EBIT)	12.48	1.78	1.04	15.22	51.81	72.16	11.52	6.98	13.01	13.62	13.93
Enterprise Value to NOPAT (EV/NOPAT)	19.45	2.73	0.43	20.85	66.37	123.89	16.50	10.05	17.16	19.03	19.52
Enterprise Value to Operating Cash Flow (EV/OCF)	5.36	5.26	5.45	5.05	4.82	4.33	4.80	4.36	5.05	6.30	5.85
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	2.69	0.45	0.00	0.00	5.60	51.23	8.96	0.00	0.00	14.87
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.77	2.63	1.90	2.62	3.20	2.93	2.35	2.16	2.32	2.50	2.50
Long-Term Debt to Equity	2.45	2.24	1.61	2.25	2.73	2.70	1.88	1.70	1.80	2.14	2.24
Financial Leverage	2.66	2.67	2.18	2.21	2.88	3.02	2.53	2.17	2.16	2.35	2.44
Leverage Ratio	5.47	5.41	4.57	4.61	5.55	5.79	5.30	4.92	5.02	5.25	5.36
Compound Leverage Factor	4.14	0.47	0.16	3.15	-1.18	-5.75	4.05	4.15	3.40	3.31	3.37
Debt to Total Capital	73.47%	72.43%	65.56%	72.39%	76.19%	74.56%	70.16%	68.38%	69.86%	71.39%	71.47%
Short-Term Debt to Total Capital	8.47%	10.63%	10.01%	10.20%	11.10%	5.83%	14.21%	14.52%	15.55%	10.28%	7.66%
Long-Term Debt to Total Capital	65.00%	61.80%	55.55%	62.18%	65.09%	68.73%	55.95%	53.86%	54.32%	61.11%	63.81%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	26.53%	27.57%	34.44%	27.61%	23.81%	25.44%	29.84%	31.62%	30.14%	28.61%	28.53%
Debt to EBITDA	3.07	0.90	0.55	3.28	3.64	2.91	2.42	1.94	2.61	2.68	2.30
Net Debt to EBITDA	3.03	0.89	0.54	3.25	3.60	2.84	2.33	1.86	2.53	2.63	2.24
Long-Term Debt to EBITDA	2.71	0.77	0.47	2.82	3.11	2.68	1.93	1.53	2.03	2.30	2.05
Debt to NOPAT	13.84	1.75	0.26	15.99	50.99	86.63	10.39	6.34	10.26	10.38	9.83
Net Debt to NOPAT	13.69	1.73	0.26	15.82	50.51	84.65	10.02	6.07	9.97	10.17	9.58
Long-Term Debt to NOPAT	12.25	1.49	0.22	13.73	43.56	79.86	8.28	4.99	7.98	8.89	8.78
Altman Z-Score	1.09	3.05	4.28	1.05	0.91	1.02	1.32	1.56	1.31	1.43	1.54
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.65	0.63	0.66	0.62	0.60	0.78	0.77	0.66	0.62	0.75	0.89
Quick Ratio	0.53	0.51	0.54	0.52	0.50	0.65	0.53	0.57	0.53	0.62	0.75
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-532	3,122	19,875	-529	-1,054	1,689	204	1,124	-264	-14	1,020
Operating Cash Flow to CapEx	64.35%	107.90%	90.04%	64.73%	66.53%	367.17%	194.37%	165.47%	97.76%	106.24%	157.31%
Free Cash Flow to Firm to Interest Expense	-3.53	21.12	140.09	-2.93	-4.37	6.47	0.95	4.93	-0.89	-0.04	2.53
Operating Cash Flow to Interest Expense	9.58	10.83	11.48	9.52	8.87	8.36	10.16	10.13	7.95	5.87	6.42
Operating Cash Flow Less CapEx to Interest Expense	-5.31	0.79	-1.27	-5.19	-4.46	6.08	4.93	4.01	-0.18	0.34	2.34
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.63	1.24	1.38	0.68	0.64	0.61	0.74	0.88	0.79	0.78	0.77
Accounts Receivable Turnover	8.06	16.21	16.70	7.45	7.23	6.99	7.49	8.10	7.21	7.11	6.74
Inventory Turnover	76.88	117.53	81.61	89.34	95.17	100.62	120.76	0.00	0.00	0.00	0.00
Fixed Asset Turnover	9.29	18.50	20.22	10.24	0.00	0.00	0.00	1.34	1.23	1.24	1.23
Accounts Payable Turnover	4.70	7.84	5.45	4.93	4.99	4.75	4.62	5.02	4.70	4.82	4.91
Days Sales Outstanding (DSO)	45.27	22.51	21.85	49.00	50.51	52.25	48.70	45.04	50.64	51.34	54.15
Days Inventory Outstanding (DIO)	4.75	3.11	4.47	4.09	3.84	3.63	3.02	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	77.60	46.57	66.95	74.04	73.10	76.81	79.04	72.75	77.61	75.73	74.36
Cash Conversion Cycle (CCC)	-27.57	-20.95	-40.62	-20.95	-18.75	-20.93	-27.31	-27.71	-26.97	-24.39	-20.21
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,429	7,385	8,173	9,118	10,328	8,714	9,144	9,022	9,979	10,742	10,499
Invested Capital Turnover	0.94	1.82	1.98	0.97	0.92	0.88	1.11	1.37	1.26	1.23	1.19
Increase / (Decrease) in Invested Capital	929	-44	788	945	1,210	-1,613	430	-122	957	763	-243
Enterprise Value (EV)	7,732	8,413	8,867	8,672	10,316	9,453	10,451	10,075	11,893	14,259	15,175
Market Capitalization	2,290	3,081	3,536	2,091	2,464	2,994	4,105	3,990	4,983	6,634	7,728
Book Value per Share	$37.19	$38.38	$53.67	$47.78	$46.47	$41.86	$52.11	$58.45	$69.24	$73.71	$75.59
Tangible Book Value per Share	$28.88	$30.25	$45.39	$37.72	$36.60	$32.23	$38.29	$35.44	$39.10	$35.52	$36.85
Total Capital	7,490	7,444	8,251	9,186	10,401	8,866	9,378	9,289	10,183	10,896	10,697
Total Debt	5,503	5,391	5,410	6,649	7,925	6,610	6,580	6,352	7,114	7,779	7,645
Total Long-Term Debt	4,868	4,600	4,584	5,712	6,770	6,094	5,247	5,003	5,531	6,659	6,826
Net Debt	5,442	5,332	5,331	6,581	7,851	6,459	6,346	6,085	6,910	7,625	7,447
Capital Expenditures (CapEx)	2,240	1,484	1,808	2,654	3,217	594	1,119	1,396	2,407	2,132	1,649
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-8.37	90	56	-80	18	-92	359	-34	-5.00	158	316
Debt-free Net Working Capital (DFNWC)	53	149	134	-12	91	59	593	233	199	312	514
Net Working Capital (NWC)	-582	-643	-692	-949	-1,063	-458	-740	-1,116	-1,384	-808	-305
Net Nonoperating Expense (NNE)	93	2,815	19,943	131	180	198	114	135	287	260	278
Net Nonoperating Obligations (NNO)	5,442	5,332	5,331	6,581	7,851	6,459	6,346	6,085	6,910	7,625	7,447
Total Depreciation and Amortization (D&A)	1,175	1,226	1,299	1,457	1,980	2,143	1,811	1,831	1,814	1,854	2,240
Debt-free, Cash-free Net Working Capital to Revenue	-0.13%	0.67%	0.36%	-0.95%	0.20%	-1.10%	3.62%	-0.27%	-0.04%	1.24%	2.50%
Debt-free Net Working Capital to Revenue	0.80%	1.10%	0.87%	-0.14%	1.02%	0.70%	5.98%	1.87%	1.66%	2.46%	4.06%
Net Working Capital to Revenue	-8.86%	-4.75%	-4.50%	-11.31%	-11.91%	-5.43%	-7.46%	-8.96%	-11.55%	-6.36%	-2.41%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.75	$4.94	$14.97	$5.20	($0.47)	($2.34)	$9.87	$17.41	$8.89	$11.29	$12.15
Adjusted Weighted Average Basic Shares Outstanding	53.49M	53.46M	52.98M	53.12M	53.27M	53.70M	53.80M	46.29M	43.91M	42.08M	39.43M
Adjusted Diluted Earnings per Share	$5.71	$4.90	$14.87	$5.17	($0.47)	($2.34)	$0.00	$17.04	$8.73	$11.06	$11.94
Adjusted Weighted Average Diluted Shares Outstanding	53.49M	53.46M	52.98M	53.12M	53.27M	53.70M	53.80M	46.29M	43.91M	42.08M	39.43M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	53.49M	53.46M	52.98M	53.12M	53.27M	53.70M	53.80M	46.29M	43.91M	42.08M	39.43M
Normalized Net Operating Profit after Tax (NOPAT)	409	3,081	5,978	432	155	154	658	1,004	679	759	784
Normalized NOPAT Margin	6.23%	22.80%	38.84%	5.15%	1.74%	1.83%	6.63%	8.05%	5.67%	5.97%	6.19%
Pre Tax Income Margin	7.14%	3.01%	1.93%	4.64%	-0.47%	-1.54%	6.99%	9.76%	5.16%	5.20%	5.41%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.12	32.06	60.27	3.16	0.82	0.50	4.24	6.33	3.09	2.71	2.70
NOPAT to Interest Expense	2.64	20.82	145.64	2.30	0.64	0.29	2.96	4.40	2.34	1.94	1.92
EBIT Less CapEx to Interest Expense	-10.77	22.02	47.52	-11.55	-12.50	-1.77	-0.99	0.21	-5.04	-2.81	-1.39
NOPAT Less CapEx to Interest Expense	-12.25	10.79	132.90	-12.40	-12.68	-1.98	-2.27	-1.73	-5.79	-3.58	-2.16
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	27.30%	34.61%	13.31%	39.30%	-477.14%	-97.54%	23.51%	14.19%	31.53%	27.61%	29.06%
Augmented Payout Ratio	29.31%	48.78%	24.20%	50.13%	-590.56%	-121.31%	34.49%	78.43%	114.53%	93.25%	133.07%

This table displays calculated financial ratios and metrics derived from Ryder System's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	38,691,018.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	38,691,018.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2.40
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.11%	-11.09%	3.11%	8.91%	6.63%	5.78%	0.71%	-0.44%	-0.28%	0.96%	-0.06%
EBITDA Growth	-13.33%	-13.93%	-9.47%	35.29%	2.47%	4.60%	4.47%	0.60%	3.04%	-1.17%	-2.39%
EBIT Growth	-26.34%	-31.27%	-22.56%	136.21%	-0.69%	15.16%	13.59%	4.38%	2.10%	-1.42%	-8.12%
NOPAT Growth	-24.75%	-23.80%	-16.88%	259.45%	-1.24%	14.00%	23.25%	2.47%	-3.12%	-1.46%	-3.01%
Net Income Growth	-34.55%	-39.81%	-38.85%	805.56%	-11.80%	8.87%	15.29%	3.15%	-2.82%	-2.22%	-5.10%
EPS Growth	-28.01%	-34.77%	-35.71%	810.00%	-6.63%	13.60%	20.11%	10.21%	2.47%	4.21%	2.64%
Operating Cash Flow Growth	-9.08%	-2.48%	10.04%	-25.71%	1.29%	9.20%	23.76%	36.23%	-29.73%	34.23%	-10.45%
Free Cash Flow Firm Growth	-48.60%	-316.28%	-497.66%	-57.65%	-59.03%	28.24%	94.08%	103.24%	91.54%	180.02%	721.30%
Invested Capital Growth	7.54%	10.61%	14.10%	11.17%	9.81%	7.65%	2.34%	1.61%	2.52%	-2.26%	-2.35%
Revenue Q/Q Growth	1.09%	2.49%	0.84%	2.66%	-1.03%	1.67%	-2.51%	1.50%	-0.41%	-0.32%	-0.82%
EBITDA Q/Q Growth	33.82%	-1.51%	-6.69%	10.01%	1.36%	0.54%	6.00%	5.66%	0.83%	0.00%	-8.38%
EBIT Q/Q Growth	148.28%	-15.28%	-15.57%	33.01%	4.38%	-1.75%	-16.73%	22.22%	2.10%	-5.14%	-22.38%
NOPAT Q/Q Growth	277.35%	-15.06%	-21.13%	34.20%	9.84%	-1.94%	-14.74%	11.58%	3.85%	-0.26%	-16.08%
Net Income Q/Q Growth	994.44%	-22.98%	-31.45%	49.41%	11.81%	-4.93%	-27.41%	33.67%	5.34%	-4.35%	-29.55%
EPS Q/Q Growth	967.50%	-21.61%	-30.51%	50.26%	14.08%	-4.63%	-26.54%	37.89%	6.07%	-3.01%	-27.64%
Operating Cash Flow Q/Q Growth	-16.42%	-17.71%	2.94%	4.94%	13.95%	-11.29%	16.67%	15.51%	-41.22%	69.46%	-22.16%
Free Cash Flow Firm Q/Q Growth	15.97%	-69.60%	-46.77%	24.63%	15.23%	23.48%	87.89%	141.27%	-321.28%	823.53%	-5.97%
Invested Capital Q/Q Growth	1.66%	4.39%	3.96%	0.76%	0.42%	2.33%	-1.16%	0.04%	1.33%	-2.44%	-1.25%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	21.68%	20.10%	18.76%	20.24%	20.68%	20.40%	19.62%	20.71%	21.05%	20.04%	19.31%
EBITDA Margin	24.50%	23.55%	21.46%	22.99%	23.55%	23.28%	25.32%	26.36%	26.69%	26.77%	24.73%
Operating Margin	9.53%	7.65%	6.13%	8.43%	8.71%	8.57%	7.64%	8.57%	8.76%	8.60%	6.88%
EBIT Margin	9.69%	8.01%	6.61%	8.56%	9.03%	8.72%	7.45%	8.97%	9.20%	8.75%	6.85%
Profit (Net Income) Margin	5.42%	4.07%	2.73%	3.97%	4.48%	4.19%	3.12%	4.11%	4.35%	4.17%	2.96%
Tax Burden Percent	75.59%	77.50%	74.56%	71.35%	75.53%	74.59%	73.13%	71.20%	72.63%	74.58%	78.81%
Interest Burden Percent	73.96%	65.57%	55.34%	64.96%	65.73%	64.41%	57.27%	64.34%	65.07%	63.90%	54.88%
Effective Tax Rate	24.88%	22.50%	25.44%	29.21%	23.94%	25.41%	26.87%	28.26%	26.84%	25.42%	21.19%
Return on Invested Capital (ROIC)	9.24%	7.48%	5.67%	7.42%	8.28%	7.84%	6.78%	7.42%	7.66%	7.65%	6.55%
ROIC Less NNEP Spread (ROIC-NNEP)	8.40%	6.61%	4.81%	6.48%	7.30%	6.86%	5.74%	6.55%	6.79%	6.71%	5.53%
Return on Net Nonoperating Assets (RNNOA)	16.98%	14.29%	10.61%	14.35%	16.50%	16.13%	14.12%	15.87%	16.69%	16.38%	14.26%
Return on Equity (ROE)	26.21%	21.77%	16.28%	21.77%	24.79%	23.97%	20.90%	23.28%	24.35%	24.03%	20.81%
Cash Return on Invested Capital (CROIC)	0.87%	-2.78%	-6.38%	-3.25%	-2.13%	-0.13%	5.14%	5.88%	4.85%	9.61%	9.71%
Operating Return on Assets (OROA)	7.74%	6.36%	5.14%	6.73%	7.11%	6.83%	5.77%	6.94%	7.08%	6.71%	5.31%
Return on Assets (ROA)	4.33%	3.23%	2.12%	3.12%	3.53%	3.28%	2.42%	3.18%	3.34%	3.20%	2.30%
Return on Common Equity (ROCE)	26.21%	21.77%	16.28%	21.77%	24.79%	23.97%	20.90%	23.28%	24.35%	24.03%	20.81%
Return on Equity Simple (ROE_SIMPLE)	15.76%	0.00%	11.48%	16.13%	15.64%	0.00%	16.72%	16.46%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	213	181	142	191	210	206	176	196	203	203	170
NOPAT Margin	7.16%	5.93%	4.57%	5.97%	6.63%	6.39%	5.59%	6.15%	6.41%	6.41%	5.43%
Net Nonoperating Expense Percent (NNEP)	0.84%	0.87%	0.86%	0.94%	0.98%	0.98%	1.04%	0.87%	0.87%	0.94%	1.02%
Return On Investment Capital (ROIC_SIMPLE)	-	1.77%	-	-	-	1.89%	1.63%	1.81%	1.86%	1.90%	1.61%
Cost of Revenue to Revenue	78.32%	79.90%	81.24%	79.76%	79.32%	79.60%	80.38%	79.29%	78.95%	79.96%	80.69%
SG&A Expenses to Revenue	11.68%	12.09%	12.12%	11.50%	11.62%	11.30%	11.72%	11.86%	11.97%	10.87%	12.11%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	12.15%	12.45%	12.64%	11.81%	11.96%	11.83%	11.97%	12.14%	12.29%	11.44%	12.43%
Earnings before Interest and Taxes (EBIT)	288	244	206	274	286	281	234	286	292	277	215
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	728	717	669	736	746	750	795	840	847	847	776
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.53	1.62	1.72	1.75	2.07	2.13	2.02	2.14	2.49	2.53	2.82
Price to Tangible Book Value (P/TBV)	2.42	2.88	3.56	3.66	4.35	4.42	4.33	4.43	5.07	5.19	6.22
Price to Revenue (P/Rev)	0.40	0.42	0.44	0.44	0.50	0.52	0.48	0.52	0.61	0.61	0.64
Price to Earnings (P/E)	9.73	12.27	14.96	10.86	13.20	13.57	12.06	12.99	15.33	15.49	16.34
Dividend Yield	2.46%	2.37%	2.31%	2.31%	2.02%	1.94%	2.18%	2.04%	1.77%	1.80%	1.73%
Earnings Yield	10.27%	8.15%	6.68%	9.21%	7.57%	7.37%	8.29%	7.70%	6.52%	6.46%	6.12%
Enterprise Value to Invested Capital (EV/IC)	1.17	1.19	1.21	1.22	1.31	1.33	1.29	1.33	1.43	1.45	1.50
Enterprise Value to Revenue (EV/Rev)	0.94	0.99	1.04	1.04	1.10	1.12	1.07	1.11	1.21	1.20	1.23
Enterprise Value to EBITDA (EV/EBITDA)	3.94	4.36	4.73	4.48	4.79	4.92	4.66	4.80	5.18	4.56	4.71
Enterprise Value to EBIT (EV/EBIT)	10.94	13.01	14.72	12.62	13.62	13.62	12.71	12.99	14.06	13.93	14.56
Enterprise Value to NOPAT (EV/NOPAT)	14.94	17.16	19.02	17.56	18.98	19.03	17.46	17.93	19.68	19.52	20.23
Enterprise Value to Operating Cash Flow (EV/OCF)	4.74	5.05	5.24	5.78	6.20	6.30	5.72	5.45	6.39	5.85	6.17
Enterprise Value to Free Cash Flow (EV/FCFF)	139.71	0.00	0.00	0.00	0.00	0.00	25.31	22.79	29.80	14.87	15.29
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.14	2.32	2.46	2.45	2.49	2.50	2.59	2.51	2.54	2.50	2.69
Long-Term Debt to Equity	1.53	1.80	2.22	2.09	2.17	2.14	2.21	2.27	2.35	2.24	2.09
Financial Leverage	2.02	2.16	2.21	2.21	2.26	2.35	2.46	2.42	2.46	2.44	2.58
Leverage Ratio	4.88	5.02	5.11	5.08	5.17	5.25	5.42	5.34	5.37	5.36	5.57
Compound Leverage Factor	3.61	3.29	2.83	3.30	3.40	3.38	3.11	3.44	3.50	3.42	3.06
Debt to Total Capital	68.13%	69.86%	71.11%	70.98%	71.33%	71.39%	72.11%	71.54%	71.75%	71.47%	72.91%
Short-Term Debt to Total Capital	19.43%	15.55%	6.99%	10.23%	9.15%	10.28%	10.35%	6.80%	5.27%	7.66%	16.28%
Long-Term Debt to Total Capital	48.70%	54.32%	64.12%	60.75%	62.18%	61.11%	61.77%	64.74%	66.48%	63.81%	56.63%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	31.87%	30.14%	28.89%	29.02%	28.67%	28.61%	27.89%	28.46%	28.25%	28.53%	27.09%
Debt to EBITDA	2.33	2.61	2.84	2.64	2.65	2.68	2.65	2.63	2.65	2.30	2.32
Net Debt to EBITDA	2.27	2.53	2.75	2.59	2.59	2.63	2.59	2.57	2.59	2.24	2.27
Long-Term Debt to EBITDA	1.66	2.03	2.56	2.26	2.31	2.30	2.27	2.38	2.46	2.05	1.80
Debt to NOPAT	8.82	10.26	11.41	10.36	10.49	10.38	9.92	9.81	10.07	9.83	9.99
Net Debt to NOPAT	8.61	9.97	11.06	10.14	10.27	10.17	9.73	9.58	9.82	9.58	9.75
Long-Term Debt to NOPAT	6.31	7.98	10.29	8.87	9.15	8.89	8.50	8.88	9.33	8.78	7.76
Altman Z-Score	1.15	1.17	1.19	1.21	1.26	1.28	1.25	1.31	1.39	1.37	1.31
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.53	0.62	0.82	0.74	0.74	0.75	0.73	0.82	1.02	0.89	0.68
Quick Ratio	0.45	0.53	0.70	0.64	0.63	0.62	0.62	0.71	0.90	0.75	0.58
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-458	-776	-1,140	-859	-728	-557	-67	28	-62	446	419
Operating Cash Flow to CapEx	102.64%	85.59%	102.53%	111.74%	130.50%	86.78%	166.07%	136.48%	108.60%	250.50%	188.06%
Free Cash Flow to Firm to Interest Expense	-6.10	-9.24	-12.39	-8.95	-7.43	-5.57	-0.67	0.27	-0.60	4.46	4.32
Operating Cash Flow to Interest Expense	8.28	6.08	5.72	5.75	6.42	5.58	6.51	7.37	4.33	7.49	6.01
Operating Cash Flow Less CapEx to Interest Expense	0.21	-1.02	0.14	0.60	1.50	-0.85	2.59	1.97	0.34	4.50	2.81
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.80	0.79	0.78	0.79	0.79	0.78	0.77	0.77	0.77	0.77	0.78
Accounts Receivable Turnover	7.29	7.21	6.91	7.19	7.13	7.11	7.00	6.85	6.36	6.74	6.74
Inventory Turnover	121.60	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	2.13	1.23	1.23	1.23	2.23	1.24	2.23	2.24	2.22	1.23	2.26
Accounts Payable Turnover	4.39	4.70	4.50	4.71	4.63	4.82	4.77	4.79	4.79	4.91	5.01
Days Sales Outstanding (DSO)	50.08	50.64	52.85	50.79	51.20	51.34	52.17	53.30	57.36	54.15	54.15
Days Inventory Outstanding (DIO)	3.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	83.13	77.61	81.06	77.46	78.86	75.73	76.57	76.28	76.19	74.36	72.91
Cash Conversion Cycle (CCC)	-30.05	-26.97	-28.21	-26.67	-27.66	-24.39	-24.40	-22.97	-18.83	-20.21	-18.76
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	9,559	9,979	10,374	10,453	10,497	10,742	10,617	10,621	10,762	10,499	10,368
Invested Capital Turnover	1.29	1.26	1.24	1.24	1.25	1.23	1.21	1.21	1.20	1.19	1.21
Increase / (Decrease) in Invested Capital	670	957	1,282	1,050	938	763	243	168	265	-243	-249
Enterprise Value (EV)	11,212	11,893	12,575	12,770	13,752	14,259	13,666	14,120	15,363	15,175	15,581
Market Capitalization	4,750	4,983	5,266	5,398	6,311	6,634	6,052	6,573	7,695	7,728	8,071
Book Value per Share	$68.03	$69.24	$69.93	$70.30	$70.60	$73.71	$71.36	$74.36	$75.85	$75.59	$72.49
Tangible Book Value per Share	$43.12	$39.10	$33.74	$33.68	$33.50	$35.52	$33.24	$35.87	$37.19	$36.85	$32.90
Total Capital	9,718	10,183	10,608	10,617	10,659	10,896	10,768	10,801	10,951	10,697	10,550
Total Debt	6,621	7,114	7,543	7,536	7,603	7,779	7,765	7,727	7,857	7,645	7,692
Total Long-Term Debt	4,733	5,531	6,802	6,450	6,628	6,659	6,651	6,993	7,280	6,826	5,974
Net Debt	6,462	6,910	7,309	7,372	7,441	7,625	7,614	7,547	7,668	7,447	7,510
Capital Expenditures (CapEx)	605	597	513	494	482	643	392	551	407	299	310
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-146	-5.00	-5.00	109	-17	158	94	25	436	316	354
Debt-free Net Working Capital (DFNWC)	13	199	229	273	145	312	245	205	625	514	536
Net Working Capital (NWC)	-1,875	-1,384	-512	-813	-830	-808	-869	-529	48	-305	-1,182
Net Nonoperating Expense (NNE)	52	57	57	64	68	71	78	65	65	71	77
Net Nonoperating Obligations (NNO)	6,462	6,910	7,309	7,372	7,441	7,625	7,614	7,547	7,668	7,447	7,510
Total Depreciation and Amortization (D&A)	440	473	463	462	460	469	561	554	555	570	561
Debt-free, Cash-free Net Working Capital to Revenue	-1.23%	-0.04%	-0.04%	0.88%	-0.14%	1.24%	0.74%	0.20%	3.43%	2.50%	2.80%
Debt-free Net Working Capital to Revenue	0.11%	1.66%	1.90%	2.21%	1.16%	2.46%	1.92%	1.61%	4.92%	4.06%	4.23%
Net Working Capital to Revenue	-15.74%	-11.55%	-4.24%	-6.59%	-6.62%	-6.36%	-6.83%	-4.16%	0.38%	-2.41%	-9.33%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.55	$2.75	$1.93	$2.89	$3.30	$3.17	$2.32	$3.18	$3.38	$3.27	$2.36
Adjusted Weighted Average Basic Shares Outstanding	44.32M	43.91M	43.83M	43.28M	42.29M	42.08M	41.34M	40.79M	40.38M	39.43M	38.69M
Adjusted Diluted Earnings per Share	$3.47	$2.72	$1.89	$2.84	$3.24	$3.09	$2.27	$3.13	$3.32	$3.22	$2.33
Adjusted Weighted Average Diluted Shares Outstanding	44.32M	43.91M	43.83M	43.28M	42.29M	42.08M	41.34M	40.79M	40.38M	39.43M	38.69M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	44.32M	43.91M	43.83M	43.28M	42.29M	42.08M	41.34M	40.79M	40.38M	39.43M	38.69M
Normalized Net Operating Profit after Tax (NOPAT)	216	181	146	191	211	211	175	196	203	210	171
Normalized NOPAT Margin	7.26%	5.96%	4.69%	5.97%	6.65%	6.55%	5.57%	6.15%	6.41%	6.65%	5.45%
Pre Tax Income Margin	7.17%	5.25%	3.66%	5.56%	5.93%	5.62%	4.27%	5.77%	5.99%	5.59%	3.76%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.84	2.90	2.24	2.85	2.92	2.81	2.34	2.80	2.86	2.77	2.22
NOPAT to Interest Expense	2.83	2.15	1.55	1.99	2.14	2.06	1.76	1.92	1.99	2.03	1.76
EBIT Less CapEx to Interest Expense	-4.23	-4.20	-3.34	-2.29	-2.00	-3.62	-1.58	-2.60	-1.13	-0.22	-0.98
NOPAT Less CapEx to Interest Expense	-5.23	-4.96	-4.03	-3.16	-2.78	-4.37	-2.16	-3.48	-2.00	-0.96	-1.44
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	25.61%	31.53%	36.36%	26.36%	27.82%	27.61%	27.49%	27.67%	28.29%	29.06%	29.55%
Augmented Payout Ratio	136.07%	114.53%	133.81%	95.77%	98.33%	93.25%	114.54%	114.82%	105.78%	133.07%	147.98%

Financials Breakdown Chart

Key Financial Trends

Here’s a concise, data-driven read on Ryder System (NYSE:R) using the last four years of quarterly statements. The focus is on trends in revenue, profitability, cash flow, and the balance sheet that may matter to retail investors.

Operating cash flow from continuing operations remained robust in 2025, generally in the range of about $0.65B to $0.75B per quarter (for example, $749M in Q4 2025 and roughly $651M–$752M in other quarters).
Net income from continuing operations stayed steady around $130M–$140M per quarter in 2025, with basic/diluted EPS mostly around $3.1–$3.4 (e.g., Q4 2025 Basic EPS $3.27, Diluted $3.22; Q3 2025 Basic $3.38, Diluted $3.32).
Gross margins have remained roughly in the 19–21% range across recent years, reflecting stable gross profitability despite quarterly fluctuations in revenue.
The company has maintained a shareholder-friendly dividend policy, with a cash dividend per share of $0.81 in 2025, supporting ongoing income for investors.
Revenue in 2025 was largely flat versus 2024, hovering around $3.16B–$3.22B per quarter, indicating modest topline stability rather than strong growth.
Capital expenditures remain material (roughly $0.5B–$0.7B per quarter), signaling ongoing fleet and infrastructure investments that can press on near-term free cash flow.
Long-term debt rose to about $7.28B by 2025, increasing leverage but still supported by solid operating cash flow; this is a factor to monitor as the company finances ongoing investments.
The rise in long-term debt and the related interest burden contribute to higher leverage risk over time, with LT debt around $7.28B in 2025 while interest expense sits around $92–$102M per quarter in newer periods.
Financing activities have shown net cash outflows in several periods, reducing overall cash flexibility (e.g., net financing cash flow negative in Q4 2025).
In at least one quarter (Q3 2025), free cash flow turned negative (about -$85M), highlighting quarterly cash flow volatility when capex spikes or working capital needs rise.

05/14/26 01:55 PM ETAI Generated. May Contain Errors.

Ryder System Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Ryder System's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Ryder System's net income appears to be on an upward trend, with a most recent value of $499 million in 2025, rising from $304.77 million in 2015. The previous period was $489 million in 2024. View Ryder System's forecast to see where analysts expect Ryder System to go next.

Ryder System's total operating income in 2025 was $1.06 billion, based on the following breakdown:

Total Gross Profit: $2.58 billion
Total Operating Expenses: $1.52 billion

Over the last 10 years, Ryder System's total revenue changed from $6.57 billion in 2015 to $12.67 billion in 2025, a change of 92.7%.

Ryder System's total liabilities were at $13.34 billion at the end of 2025, a 1.6% decrease from 2024, and a 48.7% increase since 2015.

In the past 10 years, Ryder System's cash and equivalents has ranged from $58.80 million in 2016 to $267 million in 2022, and is currently $198 million as of their latest financial filing in 2025.

Over the last 10 years, Ryder System's book value per share changed from 37.19 in 2015 to 75.59 in 2025, a change of 103.2%.

Related Companies

Financial statements for NYSE:R last updated on 4/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Ryder System (R) Financials

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Ryder System (R) Financials

Annual Income Statements for Ryder System

Quarterly Income Statements for Ryder System

Annual Cash Flow Statements for Ryder System

Quarterly Cash Flow Statements for Ryder System

Annual Balance Sheets for Ryder System

Quarterly Balance Sheets for Ryder System

Annual Metrics And Ratios for Ryder System

Quarterly Metrics And Ratios for Ryder System

Financials Breakdown Chart

Key Financial Trends

Ryder System Financials - Frequently Asked Questions

When does Ryder System's fiscal year end?

How has Ryder System's net income changed over the last 10 years?

What is Ryder System's operating income?

How has Ryder System's revenue changed over the last 10 years?

How much debt does Ryder System have?

How much cash does Ryder System have?

How has Ryder System's book value per share changed over the last 10 years?

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