Ryder System (R)
NYSE:R
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Ryder System
(NYSE:R)
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Rating:71Outperform
Price Target:
$276.00
▲(21.52% Upside)
Action:Upgraded
Date:05/05/26
The score is driven primarily by strong technical momentum and a constructive earnings outlook with raised full-year EPS guidance and reiterated free-cash-flow targets. The main offsets are a leveraged balance sheet, capital intensity/volatile free cash flow, and only moderate valuation support (P/E ~21.8, ~1.4% yield).
Positive Factors
Contractual, asset-light revenue mix
A shift toward long-term contracts and asset-light supply chain/dedicated services reduces revenue cyclicality and raises predictability. This structural mix supports steadier cash flows, higher recurring margins and a durable ROE profile that should persist through freight cycles.
Negative Factors
High leverage
Sustained elevated leverage amplifies risk in downturns and limits strategic optionality. In a capital-intensive fleet business, high debt burdens cash flow allocation, raises refinancing sensitivity and constrains aggressive buybacks or M&A unless cash generation materially improves.
Read all positive and negative factors
Positive Factors
Negative Factors
Contractual, asset-light revenue mix
A shift toward long-term contracts and asset-light supply chain/dedicated services reduces revenue cyclicality and raises predictability. This structural mix supports steadier cash flows, higher recurring margins and a durable ROE profile that should persist through freight cycles.
Read all positive factors
Ryder System Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyRyder System (R) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$9.23B
Dividend Yield1.75%
Average Volume (3M)446.90K
Price to Earnings (P/E)21.8
Beta (1Y)1.08
Revenue Growth-0.07%
EPS Growth4.18%
CountryUS
Employees50,700
SectorIndustrials
Sector Strength72
IndustryRental & Leasing Services
Share Statistics
EPS (TTM)12.13
Shares Outstanding38,691,017
10 Day Avg. Volume385,894
30 Day Avg. Volume446,903
Financial Highlights & Ratios
PEG Ratio1.99
Price to Book (P/B)2.62
Price to Sales (P/S)0.63
P/FCF Ratio17.43
Enterprise Value/Market Cap1.95
Enterprise Value/Revenue1.42
Enterprise Value/Gross Profit6.99
Enterprise Value/Ebitda5.43
Forecast
1Y Price Target
$256.71Price Target Upside13.03% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)14.59
Revenue Forecast (FY)$13.04B
Ryder System Business Overview & Revenue Model
Company Description
Ryder System, Inc. operates as a logistics and transportation company worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS seg...
How the Company Makes Money
Ryder makes money by selling a mix of fleet-related services and logistics operations under multi-year contracts and transactional arrangements. (1) Fleet Management Solutions: Ryder generates revenue from leasing trucks and related equipment (ful...
Ryder System Earnings Call Summary
Earnings Call Date:Apr 23, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call conveyed a constructive and cautiously optimistic tone. Ryder reported continued sequential and year-over-year earnings momentum (sixth consecutive quarter of comparable EPS growth), raised full-year EPS guidance, delivered record Supply Chain sales, and highlighted tangible progress from a $170 million strategic initiative program (on track for $70 million incremental benefit in 2026). Cash flow improved and the balance sheet remains within target leverage, supporting capital return and reinvestment. Offsetting items include ongoing segment-specific headwinds (Supply Chain EBT decline vs. a strong prior year, Dedicated revenue down 5%), mixed used-vehicle pricing trends (tractors up, trucks down year-over-year) and a still-depressed rental fleet limiting immediate cyclical upside. Management took a conservative stance on near-term cyclical benefits (only $10 million of upturn benefits included in 2026 guidance out of a potential $250 million opportunity), reflecting prudent guidance given macro and OEM uncertainty. Overall, positive operational and financial execution outweigh the present headwinds, with upside contingent on continued improvement in rental and used-vehicle markets and stabilization of end-market volumes.Positive Updates
Comparable EPS Growth and Raised Full-Year Guidance
Comparable EPS from continuing operations was $2.54 in Q1, up 3% year-over-year; company raised full-year 2026 comparable EPS guidance to $14.05–$14.80 (prior year $12.92) and Q2 guidance to $3.50–$3.75 (prior year $3.32).
Negative Updates
Supply Chain Earnings Pressure vs. Prior-Year Record
Supply Chain EBT decreased 17% year-over-year in Q1 due to lower automotive results and productivity drag as new omnichannel business ramps; comparisons were against a record Q1 in the prior year which made year-over-year comparisons challenging.
Read all updates
Q1-2026 Updates
Positive
Negative
Comparable EPS Growth and Raised Full-Year Guidance
Comparable EPS from continuing operations was $2.54 in Q1, up 3% year-over-year; company raised full-year 2026 comparable EPS guidance to $14.05–$14.80 (prior year $12.92) and Q2 guidance to $3.50–$3.75 (prior year $3.32).
Read all positive updates
Company Guidance
Ryder raised its 2026 outlook, now guiding full‑year comparable EPS of $14.05–$14.80 (prior year $12.92), Q2 comparable EPS of $3.50–$3.75 (Q2 2025 $3.32), ROE of 17%–18% (unchanged) and free cash flow of $700–$800 million (unchanged); management expects $70 million of incremental benefits in 2026 from a $170 million multiyear program launched in 2024 (with $100 million realized through 2025) and ~ $10 million of upturn benefits in 2026 toward a potential ~$250 million peak opportunity. Capital guidance is lease capex of ~$1.9 billion, rental capex of ~$100 million and total 2026 capex of ~$2.4 billion (net capex ≈ $1.9 billion) with ~$500 million of expected used‑vehicle sale proceeds; rental fleet average is expected down ~11% and ending rental fleet down ~3%, with Q1 rental utilization 68% (66% prior year). Q1 operating revenue was $2.6 billion, Q1 comparable EPS $2.54 (+3%), Q1 free cash flow $273 million, used vehicle inventory ~9,500 units with 4,600 units sold in Q1, and Ryder projects ~ $10.5 billion of operating cash flow + used vehicle proceeds over three years that create ~ $3.5 billion incremental debt capacity (target leverage 2.5–3.0x, quarter‑end leverage ~269% / ~2.69x) and roughly $14 billion available for capital deployment (with ~ $4.5 billion, ≈60% of quarter‑end market cap, flexible for growth, buybacks and M&A).Ryder System Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
48
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.69B | 12.69B | 12.71B | 11.98B | 12.46B | 9.92B |
| Gross Profit | 2.57B | 2.58B | 2.54B | 2.50B | 2.84B | 2.06B |
| EBITDA | 3.31B | 3.33B | 3.27B | 3.00B | 3.27B | 2.72B |
| Net Income | 494.00M | 499.00M | 489.00M | 406.00M | 867.00M | 519.00M |
Balance Sheet | ||||||
| Total Assets | 16.23B | 16.39B | 16.67B | 15.78B | 14.39B | 13.84B |
| Cash, Cash Equivalents and Short-Term Investments | 182.00M | 198.00M | 154.00M | 204.00M | 267.00M | 234.00M |
| Total Debt | 8.72B | 8.68B | 8.88B | 8.15B | 7.08B | 6.94B |
| Total Liabilities | 13.37B | 13.34B | 13.55B | 12.71B | 11.46B | 11.04B |
| Stockholders Equity | 2.86B | 3.05B | 3.12B | 3.07B | 2.94B | 2.80B |
Cash Flow | ||||||
| Free Cash Flow | 478.00M | 459.00M | -418.00M | -881.00M | -321.00M | 234.00M |
| Operating Cash Flow | 2.53B | 2.59B | 2.27B | 2.35B | 2.31B | 2.17B |
| Investing Cash Flow | -1.58B | -1.65B | -2.45B | -2.66B | -1.85B | -1.45B |
| Financing Cash Flow | -928.00M | -912.00M | 153.00M | 256.00M | -861.00M | -204.00M |
Ryder System Technical Analysis
Positive
227.13
Price Trends
221.17
Positive
211.57
Positive
195.31
Positive
Market Momentum
2.87
Positive
60.80
Neutral
78.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For R, the sentiment is Positive. The current price of 227.13 is below the 20-day moving average (MA) of 237.73, above the 50-day MA of 221.17, and above the 200-day MA of 195.31, indicating a bullish trend. The MACD of 2.87 indicates Positive momentum. The RSI at 60.80 is Neutral, neither overbought nor oversold. The STOCH value of 78.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for R.
Ryder System Risk Analysis
Ryder System disclosed 24 risk factors in its most recent earnings report. Ryder System reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ryder System Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $9.23B | 21.79 | 16.36% | 1.75% | -0.07% | 4.18% | |
69 Neutral | $2.69B | 25.10 | 12.84% | 1.79% | 3.14% | -34.73% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | $6.14B | 17.82 | 12.46% | 1.41% | 16.92% | 18.00% | |
57 Neutral | $4.37B | 27.93 | -7.11% | 1.44% | -4.12% | -487.73% | |
56 Neutral | $4.33B | -34.53 | -0.26% | 1.79% | 28.39% | -105.83% | |
48 Neutral | $5.57B | -4.55 | 22.83% | ― | 0.72% | 69.91% |
* Industrials Sector Average
R
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Ryder System Corporate Events
Executive/Board ChangesShareholder Meetings
Ryder System Shareholders Back Board, Reject Independent Chair
Positive
May 4, 2026
At its May 1, 2026 annual meeting, Ryder System shareholders re-elected eleven directors to one-year terms expiring at the 2027 meeting, signaling continued support for the company’s existing leadership and governance structure. Shareholders...
Business Operations and StrategyFinancial Disclosures
Ryder Raises 2026 Earnings Outlook After Solid First Quarter
Positive
Apr 23, 2026
On April 23, 2026, Ryder reported first-quarter 2026 results showing GAAP earnings per share from continuing operations of $2.34, up 2% year over year, and comparable EPS of $2.54, up 3%, supported by share repurchases and stronger used vehicle sa...
Business Operations and StrategyStock BuybackFinancial Disclosures
Ryder System Posts Modest Earnings Growth on Resilient Model
Positive
Feb 11, 2026
On February 11, 2026, Ryder reported its fourth-quarter and full-year 2025 results, showing modest earnings growth despite flat revenue as its revamped business model continued to emphasize contractual revenue. Fourth-quarter 2025 GAAP earnings pe...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.