olivLaw · US equity research
Ryder System, Inc. R
Services-Auto Rental & Leasing (No Drivers) · SIC 7510 · Vertical: Services-Auto Rental & Leasing (No Drivers) (SIC 7510)
Ryder System is a North American provider of outsourced logistics and transportation services, operating through three segments: fleet, supply chain and dedicated transportation. It matters now because outsourcing of logistics and fleets remains a structural trend, and its total revenue reached about 12.7 billion USD in fiscal 2025. Third-quarter 2026 results and the raised outlook point to a gradual recovery in freight markets.
At the close of 04 Nov 2026, Ryder System, Inc. (R) stock was 283.12 USD (+0.49% on the day), with market capitalisation 10.8 bn USD, P/E 21.6 on diluted EPS of 13.10 USD over the last 12 months, dividend yield 1.32%, beta 1.11, 52-week range 162.50–285.58 USD. Latest reported quarter (Q3 2026): revenue of 3.4 bn USD (+8.3% YoY), net income of 162.0 m USD (+17.4% YoY), diluted EPS 4.15 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 72.8
- overbought (≥ 70)
- Bollinger (20, 2)
- 216.83 – 299.98
- in the upper half of the band · %B 0.80 · band width 32.2%
- SMA 50 / 200
- 247.22 / 239.03
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 11.94 / 8.93
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +20.0% | −1.1% | +21.1 pp | — |
| 3 months | +6.6% | −0.5% | +7.1 pp | — |
| 6 months | +17.2% | +4.4% | +12.8 pp | — |
| Year to date | +47.9% | +12.3% | +35.6 pp | — |
| 1 year | +69.2% | +13.5% | +55.6 pp | −11.8% |
| 3 years | +180.9% | +76.4% | +104.5 pp | −34.5% |
| 5 years | +225.1% | +63.7% | +161.5 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.2 bn | 3.1 bn | 3.2 bn | 3.2 bn | 3.2 bn | 3.1 bn | 3.3 bn | 3.4 bn |
| SG&A | 365.0 m | 368.0 m | 378.0 m | 380.0 m | 347.0 m | 380.0 m | 390.0 m | 375.0 m |
| Depreciation & amortisation | 576.0 m | 560.0 m | 555.0 m | 555.0 m | 570.0 m | 561.0 m | 556.0 m | 557.0 m |
| Interest expense | 100.0 m | 100.0 m | 102.0 m | 102.0 m | 100.0 m | 97.0 m | 97.0 m | 96.0 m |
| Pre-tax income | 181.0 m | 134.0 m | 184.0 m | 190.0 m | 177.0 m | 118.0 m | 185.0 m | 226.0 m |
| Income tax | 46.0 m | 36.0 m | 52.0 m | 51.0 m | 44.0 m | 25.0 m | 52.0 m | 64.0 m |
| Net income | 135.0 m | 98.0 m | 131.0 m | 138.0 m | 132.0 m | 93.0 m | 133.0 m | 162.0 m |
| Diluted EPS | 3.11 ≈ | 2.27 | 3.13 | 3.32 | 3.23 ≈ | 2.33 | 3.39 | 4.15 |
| Operating cash flow | 558.0 m | 651.0 m | 752.0 m ≈ | 442.0 m ≈ | 749.0 m | 583.0 m | 677.0 m ≈ | 725.0 m ≈ |
| Capex | 761.0 m | 514.0 m | 689.0 m | 527.0 m | 405.0 m | 427.0 m | 405.0 m ≈ | 543.0 m ≈ |
| Dividends paid | 34.0 m | 38.0 m | 33.0 m ≈ | 37.0 m ≈ | 37.0 m | 39.0 m | 35.0 m ≈ | 39.0 m ≈ |
| Share repurchases | 39.0 m | 167.0 m | 94.0 m ≈ | 89.0 m ≈ | 169.0 m | 233.0 m | 99.0 m ≈ | 40.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 94 percentile of its own 35-quarter history (min 4.6, median 12.6, max 107.4; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8.4 bn | 8.9 bn | 8.4 bn | 9.7 bn | 12.0 bn | 11.8 bn | 12.6 bn | 12.7 bn |
| Revenue YoY | +15.6% | +6.1% | −5.7% | +14.8% | +24.3% | −1.9% | +7.2% | +0.2% |
| Net income | 284.6 m | -24.4 m | -122.0 m | 519.0 m | 867.0 m | 406.0 m | 489.0 m | 499.0 m |
| Net income YoY | −60.5% | −108.6% | unavailable | unavailable | +67.1% | −53.2% | +20.4% | +2.0% |
| Diluted EPS | 5.38 | -0.47 | -2.34 | 9.66 | 17.04 | 8.73 | 11.06 | 11.94 |
| Diluted EPS YoY | −60.2% | −108.7% | unavailable | unavailable | +76.4% | −48.8% | +26.7% | +8.0% |
| net % | 3.4% | -0.3% | -1.4% | 5.4% | 7.2% | 3.4% | 3.9% | 3.9% |
| Free cash flow | -1.3 bn | -1.6 bn | 1.0 bn | 234.0 m | -321.0 m | -881.0 m | -418.0 m | 459.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 198.0 m USD
- Financial debt
- 819.0 m USD
- Net debt
- 621.0 m USD
- Equity
- 3.1 bn USD
- Total assets
- 16.4 bn USD
- Debt / equity
- 0.27x
- Current ratio
- 0.89x
- ROE
- 16.2%
- ROA
- 3.0%
- FCF margin
- 3.6%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 8.4 bn | 9.7 bn | 12.0 bn | 11.8 bn | 12.6 bn | 12.7 bn | SEC (XBRL)· 11 Feb 2026verified |
| SG&A | 1.0 bn | 1.2 bn | 1.4 bn | 1.4 bn | 1.5 bn | 1.5 bn | SEC (XBRL)· 11 Feb 2026verified |
| Depreciation & amortisation | — | — | — | 2.1 bn | 2.2 bn | 2.2 bn | SEC (XBRL)· 11 Feb 2026verified |
| Interest expense | 261.0 m | 214.0 m | 228.0 m | 296.0 m | 386.0 m | 404.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Pre-tax income | -130.0 m | 693.0 m | 1.2 bn | 618.0 m | 661.0 m | 685.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Income tax | -18.0 m | 171.0 m | 353.0 m | 212.0 m | 172.0 m | 184.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Net income | -122.0 m | 519.0 m | 867.0 m | 406.0 m | 489.0 m | 499.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Diluted EPS | -2.34 | 9.66 | 17.04 | 8.73 | 11.06 | 11.94 | SEC (XBRL)· 11 Feb 2026verified |
| Weighted average diluted shares | 52.4 m | 53.5 m | 50.9 m | 46.5 m | 44.2 m | 41.8 m | SEC (XBRL)· 11 Feb 2026verified |
| Dividend per share | 2.24 | 2.28 | 2.40 | 2.66 | 3.04 | 3.44 | SEC (XBRL)· 11 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 151.3 m | 234.0 m | 267.0 m | 204.0 m | 154.0 m | 198.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Inventories | 61.2 m | 69.0 m | 78.0 m | — | — | — | SEC (XBRL)· 15 Feb 2023verified |
| Current assets | 1.6 bn | 2.5 bn | 2.2 bn | 2.3 bn | 2.5 bn | 2.5 bn | SEC (XBRL)· 11 Feb 2026verified |
| Property, plant & equipment, net | 927.1 m | 985.0 m | 1.1 bn | — | — | — | SEC (XBRL)· 26 Apr 2023verified |
| Goodwill | 475.2 m | 571.0 m | 861.0 m | 940.0 m | 1.2 bn | 1.2 bn | SEC (XBRL)· 11 Feb 2026verified |
| Intangibles (excl. goodwill) | 43.2 m | 171.0 m | 295.0 m | 396.0 m | 457.0 m | 412.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Total assets | 12.9 bn | 13.8 bn | 14.4 bn | 15.8 bn | 16.7 bn | 16.4 bn | SEC (XBRL)· 11 Feb 2026verified |
| Accounts payable | 547.4 m | 748.0 m | 767.0 m | 833.0 m | 828.0 m | 689.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Short-term debt | 516.6 m | 1.3 bn | 1.3 bn | 1.6 bn | 1.1 bn | 819.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Long-term debt | 6.6 bn | 6.6 bn | 6.3 bn | 7.1 bn | 7.8 bn | — | SEC (XBRL)· 12 Feb 2025verified |
| Current liabilities | 2.1 bn | 3.2 bn | 3.3 bn | 3.6 bn | 3.3 bn | 2.8 bn | SEC (XBRL)· 11 Feb 2026verified |
| Total liabilities | 10.7 bn | 11.0 bn | 11.5 bn | 12.7 bn | 13.6 bn | 13.3 bn | SEC (XBRL)· 11 Feb 2026verified |
| Equity | 2.3 bn † | 2.8 bn † | 2.9 bn † | 3.1 bn † | 3.1 bn † | 3.1 bn † | SEC (XBRL)· 11 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 2.2 bn | 2.2 bn | 2.3 bn | 2.4 bn | 2.3 bn | 2.6 bn | SEC (XBRL)· 11 Feb 2026verified |
| Capex | 1.1 bn | 1.9 bn | 2.6 bn | 3.2 bn | 2.7 bn | 2.1 bn | SEC (XBRL)· 11 Feb 2026verified |
| Free cash flow | 1.0 bn ≈ | 234.0 m ≈ | -321.0 m ≈ | -881.0 m ≈ | -418.0 m ≈ | 459.0 m ≈ | SEC (XBRL)· 11 Feb 2026derived |
| Investing cash flow | -601.0 m | -1.5 bn | -1.9 bn | -2.7 bn | -2.4 bn | -1.7 bn | SEC (XBRL)· 11 Feb 2026verified |
| Financing cash flow | -1.5 bn | -204.0 m | -861.0 m | 256.0 m | 153.0 m | -912.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Dividends paid | 119.0 m | 122.0 m | 123.0 m | 128.0 m | 135.0 m | 145.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Share repurchases | 29.0 m | 57.0 m | 557.0 m | 337.0 m | 321.0 m | 519.0 m | SEC (XBRL)· 11 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 57 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 10.8 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation66
- Returns95
- Quality100
- Balance sheet0
- Growth7
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 45.21 – 653.78 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)396.94 – 653.78 (Mid 494.24)WACC 8.6% · starting FCFF 1.2 bn USD · terminal value share of EV 75%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): -18.4%
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · not enough peers
- Dividend discount (DDM)45.21 – 60.79 (Mid 51.85)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 57/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 4.0% | 100 (vs peers) | 10% |
| FCF conversion · Quality | 183.5% | 100 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 1.8% | 15 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | -11.2% | 0 (on a fixed band) | 13% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.7x | 0 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 21.6x | 38 (on a fixed band) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 8.8% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 6.4% | 91 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | 15.7% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial0/100 · 1/3 factors with a value
- Growth7/100 · 2/2 factors with a value
- Quality100/100 · 2/3 factors with a value
- Returns95/100 · 2/2 factors with a value
- Valuation66/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
RYDER SYSTEM INC (R). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 12.7 bn USD in 2025; YoY growth 0.2%; net margin 4.0%; ROE 17.1%.
The estimated value range is 221.07–357.29 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 273.05 USD, the price of 283.12 USD leaves a potential of -3.6% (value / price − 1) and a margin of safety of -3.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 57/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 4.0%
- FCF conversion: 183.5%
- FCF yield: 8.8%
- Shareholder yield (distributions): 6.4%
- Payout ratio (FCF): 15.7%
What contradicts it
- Revenue CAGR 3Y: 1.8%
- EPS CAGR 3Y: -11.2%
- Current ratio: 0.7x
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, EV/EBITDA.
Versus the vertical median
Services-Auto Rental & Leasing (No Drivers) (SIC 7510) · same industry (4-digit SIC) · compared with 5 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| RRyder System Inc | 10.8 bn | 21.6 | 17.1% | 4.0% | +0.2% | +69% / +181% |
| CARAvis Budget Group, Inc. | 4.2 bn | — | — | -7.0% | −1.2% | −12% / −34% |
| UHALU-Haul Holding Company | 1.2 bn | 7.1 | 2.2% | 2.7% | +3.6% | +15% / +7% |
| HTZHertz Global Holdings, Inc | 713.6 m | — | — | -7.3% | −6.0% | −57% / −73% |
| MRTMarti Technologies, Inc. | 174.7 m | — | — | -105.6% | +110.3% | −16% / +211% |
| VAIValor Energy Inc. | 26.6 m | — | — | -340.9% | −18.5% | +41% / −43% |
1- and 3-year price returns: for R from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 169.02 Total return -39% · Per year -39% | 299.21 Total return 7% · Per year 7% | 451.24 Total return 61% · Per year 61% |
| 3 years | 155.20 Total return -42% · Per year -17% | 309.97 Total return 14% · Per year 4% | 514.53 Total return 87% · Per year 23% |
| 5 years | 142.51 Total return -45% · Per year -11% | 321.13 Total return 21% · Per year 4% | 586.70 Total return 117% · Per year 17% |
- Exit P/E± 77.49
- Net margin± 54.25
- Annual revenue growth± 45.72
- Annual dilution± 4.56
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Ryder System is a North American provider of outsourced logistics and transportation services, operating through three segments: fleet, supply chain and dedicated transportation. It matters now because outsourcing of logistics and fleets remains a structural trend, and its total revenue reached about 12.7 billion USD in fiscal 2025 1. Third-quarter 2026 results and the raised outlook point to a gradual recovery in freight markets 3.
SWOT
Strengths
- The model based on long-term contracts provides predictable revenue, and the company reports steady growth in earnings per share 13.
- An extensive network of maintenance facilities and fuel points supports its integrated leasing and maintenance offers 1.
- Port-to-door solutions cover the whole North American supply chain, which differentiates the offer from partial service providers 1.
Weaknesses
Opportunities
- Rising demand for transport capacity and a recovering freight market could accelerate contractual activity in FMS and DTS 23.
- Outsourcing of privately owned fleets remains a potential source of new contracts, given the large number of privately owned vehicles 1.
- Investment in the rental fleet could capture higher expected rental demand in 2027 3.
Threats
- An economic slowdown could reduce demand for transport, rental and used vehicle sales 1.
- Tariffs, trade policy changes and geopolitical instability could disrupt supply chains and customer demand 12.
- Competition from fleet financiers and from customers who manage their own logistics could limit growth 1.
Risks
- Demand sensitive to the economic cyclehigh
Demand for transport, rental and used vehicle sales depends on customers' economic activity, and a slowdown could affect results 1.
- Residual value riskhigh
Residual value estimates for the fleet may differ from actual used vehicle prices, which could lead to losses or higher depreciation 1.
- Rental capacity riskmedium
Rental fleet investments are made ahead of demand, so overcapacity could force vehicle sales at lower prices 1.
- Global supply chain disruptionsmedium
Disruptions in global supply chains can affect vehicle availability and customer volumes in SCS and DTS 1.
- Cybersecurity and IT systemsmedium
Cybersecurity incidents or IT system failures could disrupt operations and financial reporting 1.
Investment thesis
What would need to be true (bull case)
- Contractual growth in FMS and SCS, supported by strategic initiatives, could strengthen the earnings per share the company reports quarter after quarter 3.
- A recovery in the freight market and in used vehicle prices could add further revenue growth in FMS and DTS 23.
- The trend toward outsourcing fleets and logistics remains a structural factor favourable over the long term 1.
What would break the thesis
- An economic slowdown could quickly reduce demand for rental and used vehicle sales, where results are volatile 1.
- High debt and higher financing costs could limit the company's flexibility during periods of pressure 12.
- If the freight market recovery is delayed, contractual growth in DTS could remain weak 23.
What to watch
- Operating revenue growth in FMS and SCS against the 3% full-year outlookQ4 2026
- Delivery of the 2026 comparable EPS outlook2026
- Used vehicle prices and utilization of the rental fleetQ1 2027
- Level of fleet investment and trend in free cash flownext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Ryder offers port-to-door solutions for the North American supply chain, from international inbound flows and cross-border logistics to warehousing, transport and final delivery 1. Its business is reported in three segments: Fleet Management Solutions, which includes full service leasing, commercial rental and maintenance; Supply Chain Solutions, with integrated logistics solutions; and Dedicated Transportation Solutions, with dedicated vehicles and professional drivers 1. Its model relies on long-term contracts, so a significant part of revenue is predictable, while used vehicle sales and rentals remain sensitive to the economic cycle 1.
Segments
Fleet Management Solutions (FMS)
The FMS segment accounted for 38% of consolidated revenue in 2025 and includes ChoiceLease leasing, which generated 60% of segment revenue, along with commercial rental and SelectCare maintenance services 1. In Q3 2026 its total revenue grew 10%, and EBT reached 177 million USD, equal to a 13.2% margin on operating revenue 3.
Supply Chain Solutions (SCS)
SCS accounted for 43% of consolidated revenue in 2025 and offers distribution, dedicated transportation, transportation management, e-commerce and last-mile delivery, and contract manufacturing 1. In Q3 2026 its revenue grew 9%, driven by new business and the optimization of its omnichannel retail network 3.
Market context
The US commercial fleet market includes about 11 million vehicles, a large share of which is still privately owned, which represents the outsourcing opportunity 1. The US logistics market in Ryder's target markets was estimated at about 1.5 trillion USD, of which 234 billion USD was outsourced at the time of the source 1. The used vehicle market was weak in 2025, but prices and retail volumes improved by Q3 2026 13.
Trends
- Outsourcing of logistics and fleetstailwind
Companies face rising complexity in fleet management, emissions regulation and labour shortages, which supports demand for outsourced services 1. This trend could support long-term contractual growth if cost pressures persist.
- Recovery of the freight markettailwind
The company said contractual activity accelerated in FMS and DTS as the freight market normalizes 23. If the recovery continues, demand for capacity could support revenue in the coming quarters.
- Used vehicle pricesmixed
Used vehicle sales were weak in 2025, but retail prices and volumes rose in Q3 2026 13. Price trends remain volatile, and residual value estimates can differ from actual sale prices 1.
- Cost and interest rate pressureheadwind
Cost inflation, regulatory changes, tariffs and the high interest rate environment could weigh on demand and results, according to the company 12. Maintenance and insurance costs rose in Q3 2026 2.
Competitive position
Ryder competes with finance lessors, truck and trailer manufacturers, independent dealers and managed maintenance providers 1. In logistics, competition also comes from customers who choose to run their own supply chain services 1. The competitors are not named in the provided sources.
- Finance lessors
Compete with FMS through fleet financing offers, according to the sources.
- Truck and trailer manufacturers
Can offer maintenance and financing directly to customers who buy vehicles.
- Independent dealers
Compete on price, geographic coverage and maintenance service quality.
- Managed maintenance providers
Coordinate maintenance for large fleets through a network of independent providers.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Garcia leaves LIV, targets DP World Tour return and Ryder Cup placeCNA (Channel NewsAsia) · 29 Oct 2026 · EN
- US captain Furyk says changes coming for Ryder Cup teamCNA (Channel NewsAsia) · 06 Oct 2026 · EN
- Un antreprenor român care a locuit 20 de ani în Italia s-a întors acasă în Maramureş şi a dezvoltat o firmă care construieşte standuri expoziţionale pentru giganţi precum Leonardo, Patek Philippe şi Ryder Cup. A făcut şi 24 de vile pe apă în MaldiveZiarul Financiar · 26 Aug 2026 · RO
SEC filings
- Quarterly report22 Oct 2026
- Current report22 Oct 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report23 Jul 2026
- Current report23 Jul 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report04 May 2026Shareholder vote
- Quarterly report23 Apr 2026
- Current report23 Apr 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Proxy statement11 Mar 2026
- Annual report11 Feb 2026
- Current report11 Feb 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Ryder System, Inc. · 11 Feb 2026
- [2] Form 10-Q, quarter ended 2026-09-30 · SEC / Ryder System, Inc. · 22 Oct 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Ryder System, Inc. · 22 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.