Latest Ratios: P/E Ratio 22.2x · EV/EBITDA 5.7x · ROE 16.2%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $10.5B | $8.0B | $6.9B | $5.3B | $4.3B | $4.4B | $3.2B | $2.8B | $2.5B | $4.5B | $4.0B |
| Enterprise Value | $19.0B | $16.5B | $15.7B | $13.3B | $11.1B | $11.1B | $10.0B | $10.9B | $9.3B | $9.8B | $9.3B |
| P/E Ratio → | 22.18 | 15.96 | 14.18 | 13.24 | 4.93 | 8.54 | — | — | 9.28 | 6.22 | 15.16 |
| P/S Ratio | 0.83 | 0.63 | 0.55 | 0.45 | 0.35 | 0.46 | 0.38 | 0.32 | 0.30 | 0.61 | 0.59 |
| P/B Ratio | 3.64 | 2.62 | 2.23 | 1.74 | 1.45 | 1.58 | 1.43 | 1.15 | 1.00 | 1.57 | 1.94 |
| P/FCF | 22.84 | 17.43 | — | — | — | 18.85 | 3.12 | — | — | — | — |
| P/OCF | 4.04 | 3.08 | 3.06 | 2.27 | 1.84 | 2.03 | 1.48 | 1.33 | 1.55 | 2.88 | 2.48 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.30 | 1.24 | 1.13 | 0.92 | 1.15 | 1.18 | 1.22 | 1.11 | 1.34 | 1.37 |
| EV / EBITDA | 5.70 | 4.96 | 5.71 | 4.59 | 3.79 | 4.61 | 4.17 | 4.72 | 4.46 | 5.62 | 5.35 |
| EV / EBIT | 17.47 | 15.14 | 14.97 | 14.54 | 7.67 | 12.26 | 76.03 | 54.83 | 16.37 | 21.52 | 16.79 |
| EV / FCF | — | 35.91 | — | — | — | 47.49 | 9.62 | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 19.8% | 19.8% | 19.2% | 19.2% | 19.9% | 18.6% | 15.1% | 15.4% | 18.9% | 20.1% | 22.1% |
| Operating Margin | 8.6% | 8.6% | 7.9% | 7.5% | 8.1% | 6.4% | 3.1% | 3.8% | 7.3% | 6.6% | 8.0% |
| Net Profit Margin | 3.9% | 3.9% | 3.9% | 3.4% | 7.2% | 5.4% | -1.5% | -0.3% | 3.2% | 10.8% | 3.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.2% | 16.2% | 15.8% | 13.5% | 30.2% | 20.5% | -5.2% | -0.9% | 10.2% | 32.3% | 13.0% |
| ROA | 3.0% | 3.0% | 3.0% | 2.7% | 6.1% | 3.9% | -0.9% | -0.2% | 2.2% | 7.1% | 2.4% |
| ROIC | 7.0% | 7.0% | 6.5% | 6.3% | 7.6% | 5.0% | 2.0% | 2.6% | 5.3% | 4.6% | 5.5% |
| ROCE | 8.0% | 8.0% | 7.8% | 7.6% | 9.0% | 5.7% | 2.3% | 3.0% | 6.1% | 5.2% | 5.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.84 | 2.84 | 2.85 | 2.65 | 2.41 | 2.48 | 3.05 | 3.29 | 2.70 | 1.90 | 2.63 |
| Debt / EBITDA | 2.61 | 2.61 | 3.24 | 2.81 | 2.42 | 2.88 | 2.88 | 3.52 | 3.28 | 3.11 | 3.10 |
| Net Debt / Equity | — | 2.78 | 2.80 | 2.59 | 2.32 | 2.40 | 2.98 | 3.26 | 2.68 | 1.88 | 2.60 |
| Net Debt / EBITDA | 2.55 | 2.55 | 3.18 | 2.74 | 2.33 | 2.78 | 2.82 | 3.49 | 3.24 | 3.06 | 3.07 |
| Debt / FCF | — | 18.48 | — | — | — | 28.64 | 6.50 | — | — | — | — |
| Interest Coverage | 2.70 | 2.70 | 2.71 | 3.09 | 6.33 | 4.24 | 0.50 | 0.82 | 3.16 | 3.24 | 3.75 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.89 | 0.89 | 0.75 | 0.62 | 0.66 | 0.77 | 0.78 | 0.59 | 0.62 | 0.66 | 0.63 |
| Quick Ratio | 0.89 | 0.89 | 0.75 | 0.62 | 0.64 | 0.75 | 0.75 | 0.56 | 0.59 | 0.62 | 0.59 |
| Cash Ratio | 0.07 | 0.07 | 0.05 | 0.06 | 0.08 | 0.07 | 0.07 | 0.03 | 0.03 | 0.04 | 0.03 |
| Asset Turnover | — | 0.77 | 0.76 | 0.75 | 0.83 | 0.70 | 0.65 | 0.62 | 0.63 | 0.64 | 0.62 |
| Inventory Turnover | — | — | — | — | 123.35 | 114.47 | 116.76 | 93.48 | 86.14 | 79.32 | 76.02 |
| Days Sales Outstanding | — | 54.67 | 53.76 | 53.09 | 48.93 | 55.33 | 51.25 | 50.24 | 53.88 | 50.57 | 44.74 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.3% | 1.8% | 1.9% | 2.4% | 2.9% | 2.8% | 3.7% | 4.1% | 4.4% | 2.1% | 2.3% |
| Payout Ratio | 29.1% | 29.1% | 27.6% | 31.5% | 14.2% | 23.5% | — | — | 40.9% | 12.1% | 34.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.5% | 6.3% | 7.1% | 7.6% | 20.3% | 11.7% | — | — | 10.8% | 16.1% | 6.6% |
| FCF Yield | 4.4% | 5.7% | — | — | — | 5.3% | 32.0% | — | — | — | — |
| Buyback Yield | 4.9% | 6.5% | 4.6% | 6.3% | 13.1% | 1.3% | 0.9% | 1.0% | 1.2% | 1.8% | 0.9% |
| Total Shareholder Yield | 6.3% | 8.3% | 6.6% | 8.7% | 16.0% | 4.1% | 4.6% | 5.1% | 5.6% | 3.9% | 3.2% |
| Shares Outstanding | — | $42M | $44M | $46M | $51M | $54M | $52M | $52M | $53M | $53M | $53M |
Cyclical asset-heavy leverage
Based on current market data, Ryder trades at a TTM P/E of 21.76, which appears to reflect a conglomerate discount as investors struggle to reconcile the capital-intensive leasing business with the higher-multiple logistics services segment compared to pure-play peers like United Rentals or GATX.
The valuation gap between Ryder and pure-play logistics firms suggests the market continues to view the company primarily through the lens of a cyclical asset-owner rather than a service-oriented provider. Investors should monitor whether the shift toward asset-light Supply Chain Solutions can eventually drive a multiple re-rating as the market gains confidence in the stability of service-based revenue streams.
As reported in recent financial statements, Ryder's ROIC has remained stagnant at approximately 1.8% in recent quarters, indicating that the company is struggling to generate returns that meaningfully exceed its cost of capital while maintaining its extensive, capital-intensive proprietary maintenance network across North America.
The persistent low ROIC suggests that the heavy reinvestment required to maintain the fleet and maintenance infrastructure acts as a structural drag on capital efficiency. Unless management can successfully pivot toward higher-margin, asset-light service contracts, the company may continue to face challenges in compounding shareholder value through its current asset-heavy business model.
According to quarterly filings, Ryder's asset turnover has remained stubbornly low at 0.19, reflecting the significant capital investment required to support its leasing operations and the difficulty of optimizing asset utilization in a cooling freight environment compared to more agile logistics competitors.
The lack of improvement in asset turnover highlights the inherent difficulty of scaling a business that relies on physical vehicle ownership. Investors should monitor whether the recent focus on service-only contracts can improve these efficiency metrics by decoupling revenue growth from the requirement for continuous, large-scale fleet capital expenditures.
As indicated by industry analysis, the P/E ratio is frequently misapplied to Ryder, as it obscures the massive non-cash depreciation charges inherent in the company's asset-heavy leasing model, which significantly distort reported net income and fail to capture the true cash-generative capacity of the business.
Analysts should prioritize EV/EBITDA or cash-flow-based metrics to better evaluate the company's performance, as these measures account for the capital structure and depreciation nuances that P/E ignores. Relying on P/E alone may lead to an inaccurate assessment of the company's valuation relative to its peers, as it fails to account for the underlying cash-flow stability of the service-oriented segments.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying R stock.
Ryder System, Inc.'s current P/E ratio is 22.2x. The historical average is 16.0x. This places it at the 85th percentile of its historical range.
Ryder System, Inc.'s current EV/EBITDA is 5.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 4.8x.
Ryder System, Inc.'s return on equity (ROE) is 16.2%. The historical average is 13.0%.
Based on historical data, Ryder System, Inc. is trading at a P/E of 22.2x. This is at the 85th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Ryder System, Inc.'s current dividend yield is 1.30% with a payout ratio of 29.1%.
Ryder System, Inc. has 19.8% gross margin and 8.6% operating margin.
Ryder System, Inc.'s Debt/EBITDA ratio is 2.6x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.