RYDER SYSTEM INC

Listed Company

RCIK 0000085961NYSELarge AcceleratedServices-Auto Rental & Leasing (No Drivers)FloridaFY ends Dec 31

Period

FY 2025

Revenue

$12.66B

Net Income

$499.00M

Total Assets

$16.39B

Equity

$3.05B

Shares Out

38.69M

Op. Cash Flow

$2.59B

Business

Ryder System, Inc. is a provider of outsourced logistics and transportation services to customers across North America. Its offerings include fleet management (leasing, rental, maintenance, fuel and used vehicle sales), supply chain services (port-to-door logistics, warehousing, distribution management, e-commerce/last mile and transportation management) and dedicated transportation (vehicles, professional drivers and related routing, safety and compliance services). The company reports operations in three business segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS) and Dedicated Transportation Solutions (DTS). Ryder serves customers through a network of operating locations, customer on-site facilities, warehouses and digital platforms throughout the U.S., Canada and Mexico.

Summary from filing dated 2025-02-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Lease & related maintenance and rental revenue	3,881	3,835	3,937	4,174	3,995
Total revenue	12,665	12,636	11,783	12,011	9,663
Selling, general and administrative expenses	1,470	1,478	1,421	1,415	1,187
Non-operating pension costs, net	36	41	40	11	−1
Used vehicle sales, net	−22	−72	−196	−450	−257
Interest expense	404	386	296	228	214
Miscellaneous income, net	−26	−34	−47	−32	−66
Currency translation adjustment loss	0	0	188	0	0
Restructuring and other items, net	9	13	−21	2	32
Total expenses	11,980	11,975	11,165	10,795	8,970
Total	685	661	618	1,216	693
Provision for income taxes	184	172	212	353	171
Earnings from continuing operations	501	489	406	863	522
Loss from discontinued operations, net of tax	−2	0	0	4	−3
Net earnings	499	489	406	867	519
Continuing operations (in dollars per share)	12.2	11.29	8.89	17.32	9.92
Discontinued operations (in dollars per share)	−0.05	0	−0.01	0.09	−0.05
Net earnings (in dollars per share)	12.15	11.29	8.89	17.41	9.87
Continuing operations (in dollars per share)	11.99	11.06	8.73	16.96	9.7
Discontinued operations (in dollars per share)	−0.04	0	−0.01	0.08	−0.05
Net earnings (in dollars per share)	11.94	11.06	8.73	17.04	9.66

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	198	154	204	267	234
Receivables, net	1,897	1,861	1,714	1,610	1,465
Prepaid expenses and other current assets	378	448	347	323	693
Total current assets	2,473	2,463	2,265	2,200	2,461
Revenue earning equipment, net	8,898	9,206	8,892	8,190	8,323
Operating property and equipment, net	1,268	1,184	1,217	1,148	985
Goodwill	1,152	1,158	940	861	571
Intangible assets, net	412	457	396	295	171
Operating lease right-of-use assets	1,000	1,055	1,016	715	—
Sales-type leases and other assets	1,184	1,149	1,052	986	1,324
Total assets	16,387	16,672	15,778	14,395	13,835
Short-term debt and current portion of long-term debt	819	1,120	1,583	1,349	1,333
Accounts payable	689	828	833	767	748
Accrued expenses and other current liabilities	1,270	1,323	1,233	1,200	1,120
Total current liabilities	2,778	3,271	3,649	3,316	3,201
Long-term debt	6,826	6,659	5,531	5,003	5,247
Other non-current liabilities	1,923	1,954	1,871	1,568	1,314
Deferred income taxes	1,808	1,671	1,658	1,571	1,275
Total liabilities	13,335	13,555	12,709	11,458	11,037
Commitments and contingencies (Note 21)	—	—	—	—	—
Preferred stock, no par value per share authorized, 3,800,917; none outstanding, December 31, 2025 and 2024	0	0	0	0	0
Common stock, $0.50 par value per share authorized, 400,000,000; outstanding, December 31, 2025 39,417,224 and December 31, 2024 42,080,039	20	21	22	23	27
Additional paid-in capital	1,083	1,144	1,148	1,192	1,194
Retained earnings	2,569	2,644	2,554	2,518	2,266
Accumulated other comprehensive loss	−620	−692	−655	−796	−689
Total shareholders equity	3,052	3,117	3,069	2,937	2,798
Total liabilities and shareholders equity	16,387	16,672	15,778	14,395	13,835

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation expense	1,703	1,694	1,712	1,713	1,786
Amortization expense and other non-cash charges, net	156	160	102	118	25
Operating lease right-of-use asset amortization expense	381	374	271	—	—
Non-operating pension costs, net and share-based compensation expense	75	83	84	57	46
Deferred income taxes	130	21	115	266	126
Collections on sales-type leases	166	148	126	135	—
Receivables	−33	−61	−26	−134	−240
Prepaid expenses and other assets	53	−108	−85	−130	−133
Accounts payable	−63	−32	−7	−29	126
Accrued expenses and other liabilities	−453	−431	−337	−298	−63
Net cash provided by operating activities from continuing operations	2,594	2,265	2,353	2,310	2,175
Purchases of property and revenue earning equipment	−2,135	−2,683	−3,234	−2,631	−1,941
Sales of revenue earning equipment	468	532	764	1,182	748
Sales of operating property and equipment	18	19	63	53	74
Acquisitions, net of cash acquired	−1	−314	−250	−458	−325
Other investing activities, net	0	0	−6	4	−6
Net cash used in investing activities from continuing operations	−1,650	−2,446	−2,663	−1,850	−1,450
Net (repayments) borrowings of commercial paper and other	−3	296	−100	—	—
Debt proceeds	892	1,789	2,307	1,229	300
Debt repayments	−1,119	−1,479	−1,481	−1,552	−608
Dividends on common stock	−145	−135	−128	−123	−122
Common stock issued, net of tax withholdings on vested stock awards	−12	10	2	—	—
Common stock repurchased	−519	−321	−337	−557	−57
Other financing activities	−6	−7	−7	−6	−7
Net cash (used in) provided by financing activities from continuing operations	−912	153	256	−861	−204
Effect of exchange rate changes on Cash and cash equivalents	13	−21	−9	−4	−1
Increase (Decrease) in Cash and cash equivalents from continuing operations	45	−49	−63	−405	520
Net cash used by operating activities from discontinued operations	−1	−1	0	0	1
Increase (Decrease) in Cash and cash equivalents	44	−50	−63	−405	521

Filings

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