Ryder System (R) financial statements
Ryder System reported revenue of $12.7B in fiscal 2025, up 7.2% a year over 9 years.
Net income was $499M.
Free cash flow was $459M, and the company returned $145M in dividends and $519M in net buybacks.
The diluted share count fell 22% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Ryder System's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.8B | $7.3B | $8.4B | $8.9B | $8.4B | $9.7B | $12.0B | $11.8B | $12.6B | $12.7B |
| Cost of revenue | $2.6B | $3.0B | — | — | — | — | — | — | — | — |
| Gross profit | $4.2B | $4.3B | — | — | — | — | — | — | — | — |
| Selling, general and admin | $804M | $871M | $849M | $907M | $1.0B | $1.2B | $1.4B | $1.4B | $1.5B | $1.5B |
| Interest expense | $148M | $142M | $180M | $241M | $261M | $214M | $228M | $296M | $386M | $404M |
| Pre-tax income | $407M | $296M | $389M | -$42M | -$130M | $693M | $1.2B | $618M | $661M | $685M |
| Income tax | $142M | -$424M | $103M | -$19M | -$18M | $171M | $353M | $212M | $172M | $184M |
| Net income | $263M | $720M | $285M | -$24M | -$122M | $519M | $867M | $406M | $489M | $499M |
| EPS (diluted) | $4.91 | $13.53 | $5.38 | -$0.47 | -$2.34 | $9.66 | $17.04 | $8.73 | $11.06 | $11.94 |
| Diluted shares | 53M | 53M | 53M | 52M | 52M | 54M | 51M | 46M | 44M | 42M |
| Gross margin | 61.9% | 59.2% | — | — | — | — | — | — | — | — |
| Net margin | 3.9% | 9.9% | 3.4% | -0.3% | -1.4% | 5.4% | 7.2% | 3.4% | 3.9% | 3.9% |
Balance sheet
Fiscal years, from Ryder System's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $59M | $78M | $68M | $74M | $151M | $234M | $267M | $204M | $154M | $198M |
| Receivables | $832M | $1.0B | $1.2B | $1.2B | $1.2B | $1.5B | $1.6B | $1.7B | $1.9B | $1.9B |
| Inventory | $70M | $74M | $79M | $81M | $61M | $69M | $78M | — | — | — |
| Total current assets | $1.1B | $1.3B | $1.6B | $1.6B | $1.6B | $2.5B | $2.2B | $2.3B | $2.5B | $2.5B |
| Property, plant and equipment | $746M | $777M | $862M | $918M | $927M | $985M | $1.1B | $1.2B | $1.2B | $1.3B |
| Goodwill | $387M | $396M | $475M | $475M | $475M | $571M | $861M | $940M | $1.2B | $1.2B |
| Total assets | $10.9B | $11.7B | $13.3B | $14.5B | $12.9B | $13.8B | $14.4B | $15.8B | $16.7B | $16.4B |
| Total current liabilities | $1.7B | $2.0B | $2.5B | $2.6B | $2.1B | $3.2B | $3.3B | $3.6B | $3.3B | $2.8B |
| Long-term debt | $4.6B | $4.6B | $5.7B | $6.8B | $6.1B | $5.2B | $5.0B | $5.5B | $6.7B | $6.8B |
| Total liabilities | $8.9B | $8.6B | $10.8B | $12.0B | $10.7B | $11.0B | $11.5B | $12.7B | $13.6B | $13.3B |
| Shareholders' equity | $2.1B | $2.5B | $2.5B | $2.5B | $2.3B | $2.8B | $2.9B | $3.1B | $3.1B | $3.1B |
| Net debt | $5.3B | $5.3B | $6.6B | $7.9B | $6.5B | $6.3B | $6.1B | $6.9B | $7.6B | $7.4B |
Cash flow
Fiscal years, from Ryder System's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.6B | $1.6B | $1.7B | $2.1B | $2.2B | $2.2B | $2.3B | $2.4B | $2.3B | $2.6B |
| Capital spending | $1.9B | $1.9B | $3.1B | $3.7B | $1.1B | $1.9B | $2.6B | $3.2B | $2.7B | $2.1B |
| Free cash flow | -$304M | -$232M | -$1.3B | -$1.6B | $1.0B | $234M | -$321M | -$881M | -$418M | $459M |
| Stock-based compensation | $19M | $19M | $25M | $26M | $30M | $47M | $46M | $44M | $42M | $39M |
| Dividends paid | $91M | $96M | $112M | $116M | $119M | $122M | $123M | $128M | $135M | $145M |
| Share buybacks (net) | -$37M | -$78M | -$31M | -$28M | -$29M | -$57M | -$557M | -$337M | -$321M | -$519M |
| Net borrowing | -$78M | $90M | $62M | -$15M | -$1.3B | -$48M | -$189M | $726M | $606M | -$230M |
| Free cash flow margin | -4.5% | -3.2% | -15.8% | -17.9% | 12.3% | 2.4% | -2.7% | -7.5% | -3.3% | 3.6% |
| Dividends per share | $1.71 | $1.81 | $2.12 | $2.22 | $2.27 | $2.28 | $2.42 | $2.75 | $3.05 | $3.47 |
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Open R in InvestinglyQuestions
What was Ryder System's revenue in 2025?
$12.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does Ryder System generate?
$459M in fiscal 2025 (operating cash flow minus capital spending).
From Ryder System's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.