olivLaw · US equity research
Rush Enterprises, Inc. RUSHA
Retail-Auto Dealers & Gasoline Stations · SIC 5500 · Vertical: Retail-Auto Dealers & Gasoline Stations (SIC 5500)
Rush Enterprises is North America's largest network of commercial vehicle dealerships, operating under the Rush Truck Centers name. In fiscal 2025 gross revenues fell from the prior year, while in the second quarter of 2026 signs of a recovery in truck and parts demand appeared.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Rush Enterprises, Inc. (RUSHA) stock was 46.33 USD (+4.65% on the day), with P/E 14.0 on diluted EPS of 3.32 USD over the last 12 months, dividend yield 1.64%, beta 0.95, 52-week range 31.14–55.17 USD. Latest reported quarter (Q2 2026): revenue of 1.9 bn USD (−1.6% YoY), net income of 72.8 m USD (+0.4% YoY), diluted EPS 0.91 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)
- 53.7
- neutral
- Bollinger (20, 2)
- 42.55 – 46.87
- in the upper half of the band · %B 0.87 · band width 9.7%
- SMA 50 / 200
- 47.03 / 47.52
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.71 / -0.93
- 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 | −1.8% | −1.1% | −0.7 pp | — |
| 3 months | −15.0% | −0.5% | −14.6 pp | — |
| 6 months | −3.5% | +4.4% | −7.8 pp | — |
| Year to date | +28.8% | +12.3% | +16.5 pp | — |
| 1 year | +48.9% | +13.5% | +35.3 pp | −5.6% |
| 3 years | +82.5% | +76.4% | +6.1 pp | −0.4% |
| 5 years | +90.6% | +63.7% | +27.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.9 bn | 2.0 bn | 1.9 bn | 1.9 bn | 1.9 bn | 1.8 bn | 1.7 bn | 1.9 bn |
| Cost of revenue | 1.5 bn | 1.6 bn | 1.5 bn | 1.6 bn | 1.5 bn | 1.4 bn | 1.3 bn | 1.5 bn |
| Gross profit | 379.0 m | 370.1 m | 357.8 m | 379.7 m | 374.8 m | 348.5 m | 343.8 m | 361.7 m |
| SG&A | 239.7 m | 240.8 m | 248.8 m | 252.0 m | 256.4 m | 239.0 m | 242.6 m | 245.5 m |
| Operating income | 120.8 m | 112.2 m | 91.9 m | 110.2 m | 100.0 m | 91.7 m | 82.2 m | 97.2 m |
| Depreciation & amortisation | 19.1 m | 60.6 m | 61.5 m | 17.6 m | 18.2 m | 64.5 m | 64.6 m | 19.1 m |
| Interest expense | 18.1 m | 16.1 m | 13.5 m | 13.1 m | 12.3 m | 9.4 m | 7.4 m | 7.2 m |
| Pre-tax income | 103.2 m | 96.7 m | 78.6 m | 97.1 m | 87.9 m | 82.3 m | 75.4 m | 92.3 m |
| Income tax | 23.8 m | 21.4 m | 17.9 m | 24.1 m | 20.1 m | 17.6 m | 13.7 m | 19.3 m |
| Net income | 79.1 m | 74.8 m | 60.3 m | 72.4 m | 66.7 m | 64.3 m | 61.5 m | 72.8 m |
| Diluted EPS | 0.97 | 0.91 ≈ | 0.73 | 0.90 | 0.83 | 0.81 ≈ | 0.77 | 0.91 |
| Operating cash flow | 111.7 m ≈ | 392.3 m | 153.5 m | 227.6 m ≈ | 367.8 m ≈ | 112.9 m | 60.4 m | 133.3 m ≈ |
| Capex | 131.7 m ≈ | 128.8 m | 108.4 m | 113.9 m ≈ | 96.6 m ≈ | 81.0 m | 66.0 m | 82.3 m ≈ |
| Dividends paid | 14.0 m ≈ | 14.3 m | 14.4 m | 14.5 m ≈ | 14.8 m ≈ | 14.6 m | 15.3 m | 15.2 m ≈ |
| Share repurchases | 267.0 k ≈ | 5.9 m | 29.6 m | 87.4 m ≈ | 7.4 m ≈ | 70.5 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 97 percentile of its own 35-quarter history (min 0.3, median 5.5, max 14.7; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5.5 bn | 5.8 bn | 4.7 bn | 5.1 bn | unavailable | 7.9 bn | 7.8 bn | 7.4 bn |
| Revenue YoY | +16.8% | +5.5% | −18.5% | +8.2% | unavailable | unavailable | −1.5% | −4.7% |
| Net income | 139.1 m | 141.6 m | 114.9 m | 241.4 m | 392.1 m | 347.1 m | 304.2 m | 263.8 m |
| Net income YoY | −19.2% | +1.8% | −18.9% | +110.1% | +62.4% | −11.5% | −12.4% | −13.3% |
| Diluted EPS | 2.30 | 2.51 | 2.04 | 2.78 | unavailable | 4.15 | 3.72 | 3.27 |
| Diluted EPS YoY | −45.2% | +9.1% | −18.7% | +36.3% | unavailable | unavailable | −10.4% | −12.1% |
| net % | 2.5% | 2.4% | 2.4% | 4.7% | unavailable | 4.4% | 3.9% | 3.5% |
| Free cash flow | -22.9 m | 127.8 m | 626.8 m | 255.2 m | unavailable | -73.2 m | 186.5 m | 462.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 212.6 m USD
- Financial debt
- 274.9 m USD
- Net debt
- 62.3 m USD
- Equity
- 2.2 bn USD
- Total assets
- 4.4 bn USD
- Debt / equity
- 0.12x
- Current ratio
- 1.40x
- ROE
- 12.0%
- ROA
- 5.8%
- FCF margin
- 6.2%
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 | 4.7 bn | 5.1 bn | — | 7.9 bn | 7.8 bn | 7.4 bn | SEC (XBRL)· 25 Feb 2026verified |
| Cost of revenue | 3.9 bn | 4.0 bn | — | 6.3 bn | 6.3 bn | 6.0 bn | SEC (XBRL)· 25 Feb 2026verified |
| Gross profit | 875.5 m | 1.1 bn | — | 1.6 bn | 1.5 bn | 1.5 bn | SEC (XBRL)· 25 Feb 2026verified |
| SG&A | 665.3 m | 731.3 m | — | 1.0 bn | 995.6 m | 996.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Operating income | 154.6 m | 309.0 m | — | 512.4 m | 468.1 m | 393.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Depreciation & amortisation | 177.3 m | 169.5 m | — | 221.1 m | 236.1 m | 252.8 m | SEC (XBRL)· 25 Feb 2026verified |
| EBITDA | 332.0 m ≈ | 478.5 m ≈ | — | 733.5 m ≈ | 704.2 m ≈ | 646.6 m ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Interest expense | 9.7 m | 2.4 m | — | 53.7 m | 72.0 m | 48.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Pre-tax income | 151.7 m | 313.7 m | — | 462.1 m | 397.8 m | 345.9 m | SEC (XBRL)· 25 Feb 2026verified |
| Income tax | 36.8 m | 72.3 m | — | 114.0 m | 92.8 m | 79.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Net income | 114.9 m | 241.4 m | 392.1 m | 347.1 m | 304.2 m | 263.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Diluted EPS | 2.04 | 2.78 | — | 4.15 | 3.72 | 3.27 | SEC (XBRL)· 25 Feb 2026verified |
| Weighted average diluted shares | 56.2 m | 86.8 m | — | 83.7 m | 81.8 m | 80.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Dividend per share | 0.41 | 0.27 | — | 0.62 | 0.70 | 0.74 | SEC (XBRL)· 25 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 312.0 m | 148.1 m | 201.0 m | 183.7 m | 228.1 m | 212.6 m | SEC (XBRL)· 25 Feb 2026verified |
| Receivables | 172.5 m | 140.2 m | 220.7 m | 259.4 m | 345.3 m | 277.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Inventories | 858.3 m | 1.0 bn | 1.4 bn | 1.8 bn | 1.8 bn | 1.5 bn | SEC (XBRL)· 25 Feb 2026verified |
| Current assets | 1.4 bn | 1.3 bn | 1.9 bn | 2.3 bn | 2.4 bn | 2.1 bn | SEC (XBRL)· 25 Feb 2026verified |
| Property, plant & equipment, net | 1.2 bn | 1.3 bn | 1.4 bn | 1.5 bn | 1.6 bn | 1.7 bn | SEC (XBRL)· 25 Feb 2026verified |
| Goodwill | 292.1 m | 370.3 m | 416.4 m | 420.7 m | 427.5 m | 441.6 m | SEC (XBRL)· 25 Feb 2026verified |
| Total assets | 3.0 bn | 3.1 bn | 3.8 bn | 4.4 bn | 4.6 bn | 4.4 bn | SEC (XBRL)· 25 Feb 2026verified |
| Short-term debt | 141.7 m | — | 0 | — | — | 127.0 k | SEC (XBRL)· 25 Feb 2026verified |
| Long-term debt | 388.0 m | 334.9 m | 275.4 m | 414.0 m | 408.4 m | 274.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Current liabilities | 1.0 bn | 1.0 bn | 1.4 bn | 1.7 bn | 1.7 bn | 1.5 bn | SEC (XBRL)· 25 Feb 2026verified |
| Equity | 1.3 bn | 1.5 bn | 1.8 bn | 1.9 bn | 2.2 bn | 2.2 bn | SEC (XBRL)· 25 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 763.0 m | 422.3 m | — | 295.7 m | 619.6 m | 861.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Capex | 136.2 m | 167.2 m | — | 368.9 m | 433.0 m | 399.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Free cash flow | 626.8 m ≈ | 255.2 m ≈ | — | -73.2 m ≈ | 186.5 m ≈ | 462.0 m ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Investing cash flow | -127.5 m | -432.9 m | — | -387.0 m | -445.6 m | -417.1 m | SEC (XBRL)· 25 Feb 2026verified |
| Financing cash flow | -505.1 m | -153.3 m | — | 74.0 m | -129.3 m | -460.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Dividends paid | 22.5 m | 41.1 m | — | 50.6 m | 55.5 m | 58.3 m | SEC (XBRL)· 25 Feb 2026verified |
| Share repurchases | 24.9 m | 33.6 m | — | 211.8 m | 15.7 m | 194.9 m | SEC (XBRL)· 25 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 weight coverage: 58.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
Score by group
58% · Insufficient data
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: 29.74 – 72.78 USD.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E29.74 – 72.78 (Mid 46.76)11 companies used · median multiple 14.1x · quartiles 9.0x – 21.9xABG, AN, CASY, CPRT, GPI, KMX, LAD, MUSA, OPLN, PAG, SAH
- Dividend discount (DDM)outside the aggregate9.72 – 13.08 (Mid 11.15)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
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
Insufficient data
Minimum-evidence gate: score weight coverage: 58.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 12.4% | 25 (vs peers) | 18% |
| Net margin · Quality | 3.7% | 76 (vs peers) | 11% |
| FCF conversion · Quality | 131.4% | 100 (on a fixed band) | 11% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 0.0x | 80 (vs peers) | 18% |
| Interest coverage · Balance sheet | 10.2x | 100 (on a fixed band) | 11% |
| Current ratio · Balance sheet | 1.5x | 54 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 14.0x | 50 (vs peers) | 18% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | 17.2% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet81/100 · 3/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality59/100 · 3/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation· partial50/100 · 1/3 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
RUSH ENTERPRISES, INC. (RUSHA). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 7.4 bn USD in 2025; YoY growth -4.7%; net margin 3.7%; ROE 11.8%; net debt/EBITDA 0.0x.
The estimated value range is 29.74–72.78 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 46.76 USD, the price of 46.33 USD leaves a potential of 0.9% (value / price − 1) and a margin of safety of 0.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 58.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 3.7%
- FCF conversion: 131.4%
- Net debt / EBITDA: 0.0x
- Interest coverage: 10.2x
- Payout ratio (FCF): 17.2%
What contradicts it
- ROIC: 12.4%
Not assessed (insufficient data or a ratio without meaning): Revenue CAGR 3Y, EPS CAGR 3Y, EV/EBITDA, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Retail-Auto Dealers & Gasoline Stations (SIC 5500) · same industry (4-digit SIC) · compared with 18 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 | |
|---|---|---|---|---|---|---|
| CPRTCopart, Inc. | 30.2 bn | 21.0 | 16.2% | 31.8% | +0.4% | −16% / −35% |
| CASYCasey’s General Stores, Inc. | 24.9 bn | 32.5 | 20.0% | 4.1% | +10.2% | +18% / +145% |
| PAGPenske Automotive Group, Inc. | 13.9 bn | 15.5 | 15.5% | 2.8% | −0.2% | +31% / +42% |
| MUSAMurphy USA Inc. | 9.1 bn | 14.1 | 99.0% | 2.9% | −4.2% | +30% / +36% |
| KMXCarmax, Inc. | 7.8 bn | 26.9 | 4.7% | 1.1% | −1.8% | +43% / −14% |
| LADLithia Motors, Inc. | 6.8 bn | 9.1 | 11.8% | 2.1% | +4.0% | −1% / +18% |
| ANAutonation, Inc. | 5.9 bn | 8.8 | 30.2% | 2.6% | +3.2% | −13% / +36% |
| OPLNOPENLANE, Inc. | 4.5 bn | 22.8 | 13.1% | 9.2% | +8.2% | +44% / +151% |
| ABGAsbury Automotive Group, Inc. | 3.8 bn | 8.3 | 11.8% | 2.7% | +4.7% | −10% / −0% |
| GPIGroup 1 Automotive, Inc | 3.3 bn | 8.6 | 12.4% | 1.7% | +13.2% | −32% / −3% |
| NXXTNextnrg, Inc. | 427.3 m | — | — | -61.3% | +194.7% | +108% / −43% |
| VRMVroom, Inc. | 36.5 m | — | -45.0% | — | −54.2% | −66% / unavailable |
| KXINKaixin Holdings | 12.2 m | — | -307.2% | -41,788.4% | unavailable | −96% / −100% |
| CRMTAmerica’s Car-Mart, Inc. | 10.5 m | — | -43.0% | -18.6% | −7.9% | −94% / −98% |
| JZXNJiuzi Holdings Inc. | 1.4 m | — | -90.7% | -353.5% | +105.9% | −86% / −100% |
| RUSHARush Enterprises, Inc. | — | 14.0 | 11.8% | 3.7% | −4.7% | +49% / +82% |
| CVNACarvana Co. | 0 | 0.0 | 51.5% | 6.2% | +48.6% | +4% / +1,138% |
| CWHCamping World Holdings, Inc. | 0 | — | -33.2% | -1.6% | +4.4% | −52% / −74% |
| SAHSonic Automotive, Inc. | — | 10.3 | 19.4% | 1.3% | +6.5% | +2% / +25% |
1- and 3-year price returns: for RUSHA 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
Scenarios are not available. input data missing
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.
Possibly outdated: the newest document it read is from 07 Aug 2026; since then the company filed 8-K (27 Oct 2026 · results).
In brief
Rush Enterprises is North America's largest network of commercial vehicle dealerships, operating under the Rush Truck Centers name. In fiscal 2025 gross revenues fell from the prior year 1, while in the second quarter of 2026 signs of a recovery in truck and parts demand appeared 3.
SWOT
Strengths
- The extensive dealer network across several states and in Ontario gives broad geographic coverage 1.
- The aftermarket business contributes a large share of gross profit and supports the stability of results 1.
- The ability to absorb trade-ins and manage fleet inventory offers an advantage in sales to large customers 1.
Weaknesses
- Dependence on Peterbilt and PACCAR for most revenues makes the company vulnerable to decisions by these manufacturers 1.
- Dealer agreements have relatively short terms and are non-exclusive, which could lead to less favorable terms on renewal 1.
- New vehicle sales revenue is sensitive to the industry cycle, which led to lower revenues in 2025 1.
Opportunities
- A recovery in freight markets could lift demand for new vehicles and service in the second half of the year 3.
- Dealer acquisitions and joint ventures, such as the one with MCT Companies, could extend activity into new areas and segments 3.
- If emissions regulations encourage fleet renewal, the company could benefit from advance orders 3.
Threats
- Vehicle electrification could reduce the volume of parts and service needed, hitting the most profitable area 1.
- A change in control of the company could lead to termination of the Peterbilt agreements, with a major impact 1.
- A prolonged economic cycle in freight transport could delay the recovery of sales and aftermarket revenues 3.
Risks
- Dependence on a single manufacturerhigh
Most revenues come from Peterbilt vehicles and parts, and changes in the relationship with PACCAR could seriously affect operations 1.
- Change of control clausehigh
If a person outside the management group obtained control, Peterbilt could terminate the dealer agreements, and the company would lose the right to sell these products 1.
- Cyclicality of new vehicle salesmedium
Sales of new trucks are sensitive to industrial production and freight conditions, and a slow recovery could keep revenues below desired levels 13.
- Transition to electric vehiclesmedium
If electric and alternative vehicles spread quickly, demand for traditional service could decline, and the timing of this transition remains uncertain 1.
- Integration risk for acquisitions and partnershipslow
Acquisitions and joint ventures require investment and operational integration, and the company cannot guarantee they will be completed on the expected timetable or terms 13.
Investment thesis
What would need to be true (bull case)
- If the recovery in truck demand continues in the second half of the year, quarterly results could reflect the rise in orders the company reports 3.
- The high share of aftermarket in gross profit could provide stability even when new vehicle sales are weak 1.
- The dividend policy and network expansion through acquisitions and partnerships point to a strategy oriented toward long-term growth 3.
What would break the thesis
- Dependence on a single manufacturer and change-of-control clauses could expose the company to major risks that are hard to control from within 1.
- If truck demand stays below replacement levels, sales revenues could keep falling, as they did in 2025 13.
- The shift to electric vehicles could reduce parts and service volume over the long term, hitting the company's most profitable area 1.
What to watch
- Trend in orders and Class 8 sales in the second half of the yearQ3 2026
- Closing and integration of the joint venture with MCT CompaniesQ3 2026
- Development of parts, service and repair revenues as demand recoversQ3 2026
- Renewal of Peterbilt and International dealer agreements and any new terms2026-2030
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.
Possibly outdated: the newest document it read is from 07 Aug 2026; since then the company filed 8-K (27 Oct 2026 · results).
The business
Rush Enterprises, Inc. is a full-service, integrated retailer of commercial vehicles and related services, operating through a dealer network under the name Rush Truck Centers, selling new and used vehicles and offering parts, service and repair, financing, leasing and rental and insurance products 1. The company was incorporated in Texas in 1965 and began as a Peterbilt dealer in 1966 1. Its network includes 126 franchised Rush Truck Centers in 23 states, and the company owns 80% of Rush Truck Centres of Canada, which runs International and IC Bus dealerships in Ontario 1.
The core activity focuses on heavy, medium and light commercial vehicles for fleets and other customers. The company says it offers one-stop solutions that combine vehicle sales with after-sales services, which it believes helps mitigate cyclical economic swings 1. Besides dealerships, Rush operates Rush Truck Leasing franchise locations and entities such as Perfection Equipment, Custom Vehicle Solutions, The House of Trucks and World Wide Tires 1.
The company had 7,355 employees in the U.S. and 582 in Canada at December 31, 2025 1. It also holds 50% of Cummins Clean Fuel Technologies, which makes compressed natural gas fuel systems for commercial vehicles 1. In July 2026 Rush announced an agreement for a 50% joint venture with MCT Companies, a Carrier Transicold dealer group 3.
Segments
New vehicle sales
New commercial vehicle sales are the largest revenue component, at 55.7% of total revenues in fiscal 2025, while new Class 8 heavy-duty trucks contributed 32.6% 1. This is the area most sensitive to the freight industry cycle, and heavy-duty unit sales fell significantly in 2025 1.
Market context
The U.S. commercial vehicle market has historically correlated closely with industrial production and U.S. GDP, according to the company 1. For 2026, ACT Research forecasts a rise in U.S. Class 8 truck sales, while the medium-duty Class 4-7 market is expected to remain under pressure 23. The company describes the first quarter of 2026 as the trough of the downcycle, with signs of recovery in the second quarter 3.
In the second quarter of 2026, U.S. Class 8 retail sales fell 6.7% year on year, while Rush kept its sales essentially flat, which raised its market share 3. New order intake rose significantly during the quarter, and the company expects the second half of the year to be stronger than the first half 3.
Trends
Competitive position
The company's sources do not offer a detailed competitive analysis, but it describes its advantage through the size and geographic reach of its network, its relationships with manufacturers and its ability to absorb trade-ins in fleet sales 1. Franchised dealers compete partly because their agreements are non-exclusive, and manufacturers could open new dealers in their areas 1.
Rush says customer loyalty is high because of the broad range of products and services offered at and after purchase 1. It also differentiates through its Ready-to-Roll medium-duty inventory program, which could attract customers against other dealers 3.
- Other independent and franchised commercial vehicle dealers
Competition comes from multi-brand dealers selling the same truck brands and from regional service networks, with no single dominant competitor identified in the company's sources.
- Truck manufacturers and their official dealer networks
Manufacturers such as PACCAR or International Motors could appoint new dealers in the company's areas of responsibility, which could create direct competition for Rush 1.
- Carrier Transicold dealers in the refrigerated segment
The MCT Companies group, a partner in the planned joint venture, runs 17 Carrier Transicold service centers across several states and is an actor in refrigerated transport 3.
- Providers of alternative and electric technology
Makers of electric vehicles and alternative fuel systems could reduce demand for traditional service, but can also become partners, as with the CNG systems developed with Cummins 1.
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.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report27 Oct 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report07 Aug 2026
- Current report06 Aug 2026Material agreement · Financial statements and exhibits
- Current report28 Jul 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report23 Jul 2026Other events · Financial statements and exhibits
- Current report30 Jun 2026Departure or appointment of officers · Regulation FD disclosure · Other events · Financial statements and exhibits
- Current report22 Jun 2026Material agreement · Financial statements and exhibits
- Current report19 May 2026Shareholder vote
- Current report13 May 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report08 May 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Rush Enterprises, Inc. · 25 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Rush Enterprises, Inc. · 07 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Rush Enterprises, Inc. · 28 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.