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Leases and rents commercial trucks, manages fleets, and runs dedicated transportation and supply-chain logistics for businesses.
Leases and rents commercial trucks, manages fleets, and runs dedicated transportation and supply-chain logistics for businesses.
Customers pay a fixed monthly amount to lease a truck or tractor together with its maintenance, so Ryder bears repair costs and resells the vehicle at the end; profit depends on how well it forecasts costs and resale values. Rental, dedicated transport and warehouse contracts add revenue, and used-vehicle sale results swing with the truck market. Most business is in the US.
Moat: narrow (scale, installed base, switching costs). Large maintained truck fleet and long-term outsourcing contracts create switching costs for customers.
Headquarters: Miami, Florida, US · Founded: 1933 · Employees: 51,600
Size Ryder System (R) is a United States Industrials company (Air Freight/Couriers) with a market value of $10.2B, the 766th largest of 3,117 United States companies the cockpit tracks. Shares closed at $266.39 on 6 Nov 2026.
Performance Over six months the shares gained 11.4%, against -1.7% for the median peer and -1.1% for the United States market (cap-weighted) — 7th highest of 20 in its peer set.
Growth Revenue grew 3.2% over the last twelve months (peer median +10.9%); the operating margin is 8.2% (peer median 4.1%).
Valuation It trades at 15.2× forward earnings against a peer median of 15.3× (9th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.3 points below its cost of capital (8.0% WACC).
Backlog Backlog (remaining performance obligations) was $3.40B at 30 Sep 2026, up 3% on a year earlier — 0.3 years of trailing revenue. Backlog detail →
Credit Ryder System has 17 bonds outstanding ($7.20B), rated BBB+ by the agencies and trading like A at a weighted spread of 60 bp.
Short interest Short interest is 2.4% of the free float (15 Oct 2026).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $13.1B | $12.7B | $12.6B | $11.8B | $12.0B |
| Revenue growth | — | 0% | +7% | -2% | — |
| Gross profit | $2.50B | $2.50B | $2.42B | $2.26B | $2.39B |
| EBITDA | $3.23B | $3.22B | $2.74B | $2.90B | $2.92B |
| Net income | $514M | $496M | $486M | $404M | $862M |
| Free cash flow | $954M | $459M | -$418M | -$881M | -$321M |
| Capital expenditure | $1.78B | $2.13B | $2.68B | $3.23B | $2.63B |
| Total debt | $8.18B | $8.68B | $8.88B | $8.15B | $7.08B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Ryder System R | $10.2B | +11% | +3% | 8% | 15.2× | 7.9% |
| J.B. Hunt JBHT | $20.3B | -11% | +11% | 7% | 24.3× | 16.8% |
| XPO XPO | $20.6B | -13% | +9% | 11% | 26.6× | 26.2% |
| Element Fleet Management EFN.TO | $5.61B | -31% | +5% | 41% | 9.7× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | R | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +13.3% | +5.2% | 3rd highest of 21 |
| 6-month return | +11.4% | -1.7% | 7th highest of 20 |
| Distance from 52-week high | -8.5% | -17.6% | 7th highest of 21 |
| Revenue growth (TTM) | +3.2% | +10.9% | 7th lowest of 21 |
| Operating margin | 8.2% | 4.1% | 7th highest of 21 |
| Forward P/E | 15.2× | 15.3× | 9th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 7.9% | -0.4% | 8th most demanding of 18 |
| Growth delivered (Del g) | +8.5% | +8.3% | 9th highest of 18 |
| Hurdle (Req g minus delivered) | -0.7 pp | -7.2 pp | 9th most demanding of 18 |
| ROIC minus cost of capital | -0.3 pp | +1.1 pp | 11th highest of 21 |
| EV / EBITDA | 5.6× | 8.6× | 2nd cheapest of 11 |
| Net debt / EBITDA | 2.5× | 1.4× | 4th most indebted of 14 |
| Bond spread | 60 bp | 104 bp | tightest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ryder System R | United States | $10.2B | +11% | +3% | 8% | 15.2× | 7.9% | +8.5% |
| YTO Express 600233.SS | China | $9.63B | -13% | +8% | 9% | 10.3× | -12.2% | +16.6% |
| Hyundaiglovis 086280.KS | South Korea | $10.9B | -13% | +12% | 6% | 8.7× | -10.8% | +12.3% |
| Jd Logistics 2618.HK | Hong Kong | $9.10B | -29% | +29% | 3% | 6.9× | -0.4% | +23.4% |
| J&T Global Express 1519.HK | Hong Kong | $11.9B | -2% | +32% | 6% | 18.6× | -3.8% | +51.4% |
| Nippon Express Hldgs 9147.T | Japan | $8.22B | +35% | +2% | 3% | 17.6× | 7.9% | +4.4% |
| Delivery Hero DHER.DE | Germany | $12.9B | +31% | +11% | 0% | n/a | n/a | n/a |
| Delivery Hero SE TEMP DHE1.DE | Germany | $12.9B | n/a | +11% | 0% | n/a | n/a | n/a |
| Grab GRAB | United States | $13.9B | -8% | +23% | 11% | 23.3× | 17.8% | +48.4% |
| Yunnan Yuntianhua 600096.SS | China | $7.17B | -28% | -19% | 11% | 9.3× | -1.7% | -1.5% |
| C.H. Robinson CHRW | United States | $14.5B | -27% | +10% | 5% | 17.2× | 9.2% | 0.0% |
| Sinotrans 601598.SS | China | $6.74B | +18% | -1% | 0% | 14.8× | 4.3% | +2.7% |
| Zto Express-w 2057.HK | Hong Kong | $15.6B | -19% | +21% | 20% | 10.2× | -1.6% | +13.5% |
| GXO Logistics GXO | United States | $6.33B | +7% | +7% | 3% | 16.0× | 20.2% | +16.3% |
| Swiggy SWIGGY.NS | India | $5.61B | -32% | +42% | -15% | n/a | n/a | n/a |
| SG Holdings Co., Ltd. 9143.T | Japan | $5.56B | +1% | +14% | 5% | 14.0× | -2.6% | +4.6% |
| Logista Integral LOG.MC | Spain | $5.42B | +15% | +4% | 2% | 15.8× | -5.9% | +5.4% |
| Brambles BXB.AX | Australia | $20.4B | +2% | +1% | 17% | 20.8× | 8.9% | +8.3% |
| Yamato 9064.T | Japan | $4.83B | +26% | +2% | 2% | 34.5× | 8.9% | +1.9% |
| Compagnie de l'Odet ODET.PA | France | $4.74B | -30% | -83% | -8% | n/a | 24.3% | -29.4% |
| Eastern Air Logistics 601156.SS | China | $4.70B | +23% | +20% | 14% | 10.9× | -16.0% | +9.9% |
Ryder System has 17 bonds outstanding with $7.20B face value. The agencies rate it BBB+; its bonds trade like A. Weighted yield 5.18%, a spread of 60 bp over government bonds.
Ryder System reported $3.40B of remaining performance obligations at 30 Sep 2026, up 3% from a year earlier and flat from the previous quarter. That is 0.3 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.