Intrinsic value of Ryder System - R

Previous Close

$56.35

  Intrinsic Value

$19.63

stock screener

  Rating & Target

str. sell

-65%

Previous close

$56.35

 
Intrinsic value

$19.63

 
Up/down potential

-65%

 
Rating

str. sell

We calculate the intrinsic value of R stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 3.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  16.90
  15.71
  14.64
  13.68
  12.81
  12.03
  11.32
  10.69
  10.12
  9.61
  9.15
  8.73
  8.36
  8.02
  7.72
  7.45
  7.21
  6.98
  6.79
  6.61
  6.45
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
Revenue, $m
  8,568
  9,914
  11,366
  12,920
  14,575
  16,328
  18,177
  20,120
  22,157
  24,286
  26,508
  28,823
  31,233
  33,740
  36,345
  39,053
  41,867
  44,791
  47,830
  50,991
  54,278
  57,699
  61,260
  64,969
  68,834
  72,864
  77,067
  81,454
  86,034
  90,818
Variable operating expenses, $m
  7,815
  9,036
  10,353
  11,763
  13,263
  14,853
  16,530
  18,293
  20,140
  22,072
  24,043
  26,143
  28,329
  30,602
  32,966
  35,422
  37,974
  40,626
  43,383
  46,250
  49,231
  52,334
  55,564
  58,928
  62,434
  66,089
  69,901
  73,880
  78,034
  82,373
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  7,815
  9,036
  10,353
  11,763
  13,263
  14,853
  16,530
  18,293
  20,140
  22,072
  24,043
  26,143
  28,329
  30,602
  32,966
  35,422
  37,974
  40,626
  43,383
  46,250
  49,231
  52,334
  55,564
  58,928
  62,434
  66,089
  69,901
  73,880
  78,034
  82,373
Operating income, $m
  753
  878
  1,013
  1,157
  1,311
  1,474
  1,646
  1,827
  2,016
  2,214
  2,465
  2,680
  2,904
  3,137
  3,379
  3,631
  3,893
  4,165
  4,447
  4,741
  5,047
  5,365
  5,696
  6,041
  6,400
  6,775
  7,166
  7,574
  8,000
  8,444
EBITDA, $m
  2,235
  2,586
  2,965
  3,370
  3,802
  4,259
  4,741
  5,248
  5,780
  6,335
  6,915
  7,519
  8,147
  8,801
  9,481
  10,187
  10,921
  11,684
  12,476
  13,301
  14,158
  15,051
  15,980
  16,947
  17,955
  19,006
  20,103
  21,247
  22,442
  23,690
Interest expense (income), $m
  144
  292
  371
  457
  549
  648
  753
  864
  982
  1,105
  1,235
  1,370
  1,511
  1,658
  1,811
  1,971
  2,136
  2,308
  2,487
  2,673
  2,866
  3,067
  3,276
  3,493
  3,720
  3,955
  4,201
  4,457
  4,724
  5,003
  5,294
Earnings before tax, $m
  461
  507
  556
  609
  664
  722
  782
  845
  911
  980
  1,095
  1,169
  1,246
  1,326
  1,409
  1,495
  1,585
  1,678
  1,774
  1,875
  1,980
  2,089
  2,203
  2,321
  2,445
  2,574
  2,709
  2,850
  2,997
  3,150
Tax expense, $m
  124
  137
  150
  164
  179
  195
  211
  228
  246
  265
  296
  316
  336
  358
  380
  404
  428
  453
  479
  506
  535
  564
  595
  627
  660
  695
  731
  769
  809
  851
Net income, $m
  336
  370
  406
  444
  485
  527
  571
  617
  665
  715
  799
  853
  910
  968
  1,028
  1,091
  1,157
  1,225
  1,295
  1,369
  1,445
  1,525
  1,608
  1,695
  1,785
  1,879
  1,977
  2,080
  2,188
  2,300

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  13,409
  15,515
  17,787
  20,219
  22,809
  25,552
  28,445
  31,487
  34,674
  38,006
  41,484
  45,107
  48,878
  52,801
  56,878
  61,116
  65,519
  70,095
  74,852
  79,798
  84,942
  90,295
  95,868
  101,673
  107,721
  114,028
  120,606
  127,471
  134,638
  142,125
Adjusted assets (=assets-cash), $m
  13,409
  15,515
  17,787
  20,219
  22,809
  25,552
  28,445
  31,487
  34,674
  38,006
  41,484
  45,107
  48,878
  52,801
  56,878
  61,116
  65,519
  70,095
  74,852
  79,798
  84,942
  90,295
  95,868
  101,673
  107,721
  114,028
  120,606
  127,471
  134,638
  142,125
Revenue / Adjusted assets
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
  0.639
Average production assets, $m
  10,787
  12,482
  14,309
  16,266
  18,350
  20,557
  22,884
  25,331
  27,895
  30,576
  33,374
  36,289
  39,323
  42,478
  45,758
  49,167
  52,710
  56,392
  60,218
  64,197
  68,336
  72,643
  77,126
  81,796
  86,662
  91,735
  97,028
  102,550
  108,317
  114,339
Working capital, $m
  69
  79
  91
  103
  117
  131
  145
  161
  177
  194
  212
  231
  250
  270
  291
  312
  335
  358
  383
  408
  434
  462
  490
  520
  551
  583
  617
  652
  688
  727
Total debt, $m
  6,871
  8,455
  10,163
  11,992
  13,939
  16,002
  18,178
  20,465
  22,862
  25,368
  27,983
  30,708
  33,544
  36,493
  39,560
  42,746
  46,058
  49,499
  53,076
  56,795
  60,664
  64,689
  68,880
  73,245
  77,794
  82,536
  87,483
  92,645
  98,035
  103,665
Total liabilities, $m
  10,084
  11,668
  13,376
  15,205
  17,152
  19,215
  21,391
  23,678
  26,075
  28,581
  31,196
  33,920
  36,756
  39,706
  42,772
  45,959
  49,270
  52,712
  56,289
  60,008
  63,876
  67,902
  72,093
  76,458
  81,007
  85,749
  90,696
  95,858
  101,248
  106,878
Total equity, $m
  3,325
  3,848
  4,411
  5,014
  5,657
  6,337
  7,054
  7,809
  8,599
  9,426
  10,288
  11,187
  12,122
  13,095
  14,106
  15,157
  16,249
  17,384
  18,563
  19,790
  21,066
  22,393
  23,775
  25,215
  26,715
  28,279
  29,910
  31,613
  33,390
  35,247
Total liabilities and equity, $m
  13,409
  15,516
  17,787
  20,219
  22,809
  25,552
  28,445
  31,487
  34,674
  38,007
  41,484
  45,107
  48,878
  52,801
  56,878
  61,116
  65,519
  70,096
  74,852
  79,798
  84,942
  90,295
  95,868
  101,673
  107,722
  114,028
  120,606
  127,471
  134,638
  142,125
Debt-to-equity ratio
  2.070
  2.200
  2.300
  2.390
  2.460
  2.530
  2.580
  2.620
  2.660
  2.690
  2.720
  2.750
  2.770
  2.790
  2.800
  2.820
  2.830
  2.850
  2.860
  2.870
  2.880
  2.890
  2.900
  2.900
  2.910
  2.920
  2.920
  2.930
  2.940
  2.940
Adjusted equity ratio
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  336
  370
  406
  444
  485
  527
  571
  617
  665
  715
  799
  853
  910
  968
  1,028
  1,091
  1,157
  1,225
  1,295
  1,369
  1,445
  1,525
  1,608
  1,695
  1,785
  1,879
  1,977
  2,080
  2,188
  2,300
Depreciation, amort., depletion, $m
  1,482
  1,708
  1,952
  2,213
  2,490
  2,785
  3,095
  3,421
  3,763
  4,121
  4,450
  4,838
  5,243
  5,664
  6,101
  6,556
  7,028
  7,519
  8,029
  8,560
  9,111
  9,686
  10,283
  10,906
  11,555
  12,231
  12,937
  13,673
  14,442
  15,245
Funds from operations, $m
  1,819
  2,078
  2,358
  2,657
  2,975
  3,311
  3,666
  4,038
  4,428
  4,836
  5,249
  5,692
  6,153
  6,632
  7,130
  7,647
  8,185
  8,744
  9,324
  9,928
  10,557
  11,211
  11,892
  12,601
  13,340
  14,111
  14,914
  15,754
  16,630
  17,545
Change in working capital, $m
  10
  11
  12
  12
  13
  14
  15
  16
  16
  17
  18
  19
  19
  20
  21
  22
  23
  23
  24
  25
  26
  27
  28
  30
  31
  32
  34
  35
  37
  38
Cash from operations, $m
  1,809
  2,067
  2,346
  2,645
  2,962
  3,297
  3,651
  4,023
  4,412
  4,819
  5,231
  5,673
  6,133
  6,612
  7,109
  7,625
  8,162
  8,720
  9,300
  9,903
  10,531
  11,183
  11,863
  12,571
  13,309
  14,078
  14,881
  15,719
  16,593
  17,507
Maintenance CAPEX, $m
  -1,231
  -1,438
  -1,664
  -1,908
  -2,169
  -2,447
  -2,741
  -3,051
  -3,377
  -3,719
  -4,077
  -4,450
  -4,838
  -5,243
  -5,664
  -6,101
  -6,556
  -7,028
  -7,519
  -8,029
  -8,560
  -9,111
  -9,686
  -10,283
  -10,906
  -11,555
  -12,231
  -12,937
  -13,673
  -14,442
New CAPEX, $m
  -1,556
  -1,695
  -1,827
  -1,957
  -2,083
  -2,207
  -2,328
  -2,447
  -2,564
  -2,681
  -2,797
  -2,915
  -3,034
  -3,156
  -3,280
  -3,409
  -3,543
  -3,682
  -3,827
  -3,979
  -4,139
  -4,307
  -4,483
  -4,670
  -4,866
  -5,073
  -5,292
  -5,523
  -5,766
  -6,023
Cash from investing activities, $m
  -2,787
  -3,133
  -3,491
  -3,865
  -4,252
  -4,654
  -5,069
  -5,498
  -5,941
  -6,400
  -6,874
  -7,365
  -7,872
  -8,399
  -8,944
  -9,510
  -10,099
  -10,710
  -11,346
  -12,008
  -12,699
  -13,418
  -14,169
  -14,953
  -15,772
  -16,628
  -17,523
  -18,460
  -19,439
  -20,465
Free cash flow, $m
  -979
  -1,066
  -1,145
  -1,220
  -1,290
  -1,356
  -1,417
  -1,475
  -1,530
  -1,581
  -1,643
  -1,691
  -1,739
  -1,787
  -1,835
  -1,885
  -1,936
  -1,989
  -2,046
  -2,105
  -2,168
  -2,235
  -2,306
  -2,382
  -2,463
  -2,550
  -2,643
  -2,741
  -2,846
  -2,958
Issuance/(repayment) of debt, $m
  1,461
  1,584
  1,708
  1,829
  1,947
  2,063
  2,176
  2,287
  2,397
  2,506
  2,615
  2,725
  2,836
  2,950
  3,066
  3,187
  3,311
  3,441
  3,577
  3,719
  3,869
  4,026
  4,191
  4,365
  4,549
  4,742
  4,947
  5,162
  5,390
  5,630
Issuance/(repurchase) of shares, $m
  147
  152
  157
  159
  158
  154
  147
  137
  125
  111
  63
  45
  26
  5
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,608
  1,736
  1,865
  1,988
  2,105
  2,217
  2,323
  2,424
  2,522
  2,617
  2,678
  2,770
  2,862
  2,955
  3,066
  3,187
  3,311
  3,441
  3,577
  3,719
  3,869
  4,026
  4,191
  4,365
  4,549
  4,742
  4,947
  5,162
  5,390
  5,630
Total cash flow (excl. dividends), $m
  630
  671
  720
  768
  815
  860
  905
  949
  993
  1,036
  1,035
  1,078
  1,123
  1,168
  1,231
  1,302
  1,375
  1,452
  1,532
  1,614
  1,701
  1,791
  1,885
  1,983
  2,085
  2,192
  2,304
  2,421
  2,543
  2,672
Retained Cash Flow (-), $m
  -484
  -522
  -563
  -603
  -642
  -680
  -718
  -754
  -790
  -826
  -862
  -899
  -935
  -973
  -1,011
  -1,051
  -1,092
  -1,135
  -1,180
  -1,227
  -1,276
  -1,328
  -1,382
  -1,440
  -1,500
  -1,564
  -1,631
  -1,702
  -1,778
  -1,857
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  146
  148
  157
  165
  172
  180
  188
  195
  202
  209
  173
  180
  187
  195
  220
  251
  283
  317
  352
  388
  425
  463
  503
  543
  585
  628
  673
  719
  766
  815
Discount rate, %
  8.20
  8.61
  9.04
  9.49
  9.97
  10.47
  10.99
  11.54
  12.12
  12.72
  13.36
  14.02
  14.73
  15.46
  16.24
  17.05
  17.90
  18.79
  19.73
  20.72
  21.76
  22.84
  23.99
  25.19
  26.45
  27.77
  29.16
  30.61
  32.15
  33.75
PV of cash for distribution, $m
  135
  126
  121
  115
  107
  99
  90
  81
  72
  63
  43
  37
  31
  26
  23
  20
  17
  14
  11
  9
  7
  5
  4
  2
  2
  1
  1
  0
  0
  0
Current shareholders' claim on cash, %
  95.3
  91.3
  87.9
  85.0
  82.5
  80.5
  78.7
  77.3
  76.2
  75.2
  74.8
  74.4
  74.3
  74.3
  74.3
  74.3
  74.3
  74.3
  74.3
  74.3
  74.3
  74.3
  74.3
  74.3
  74.3
  74.3
  74.3
  74.3
  74.3
  74.3

Ryder System, Inc. is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia. Through its FMS business, the Company provides its customers with various fleet solutions. In addition, it provides its customers to purchase a selection of used trucks, tractors and trailers through its used vehicle sales program. Its customer base includes enterprises operating in various industries.

FINANCIAL RATIOS  of  Ryder System (R)

Valuation Ratios
P/E Ratio 11.5
Price to Sales 0.4
Price to Book 1.5
Price to Tangible Book
Price to Cash Flow 1.9
Price to Free Cash Flow -9.8
Growth Rates
Sales Growth Rate 3.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -28.6%
Cap. Spend. - 3 Yr. Gr. Rate -2.1%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 224.1%
Total Debt to Equity 262.7%
Interest Coverage 4
Management Effectiveness
Return On Assets 3.3%
Ret/ On Assets - 3 Yr. Avg. 3.5%
Return On Total Capital 3.5%
Ret/ On T. Cap. - 3 Yr. Avg. 3.8%
Return On Equity 13%
Return On Equity - 3 Yr. Avg. 13.6%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 55%
Gross Margin - 3 Yr. Avg. 54%
EBITDA Margin 26.6%
EBITDA Margin - 3 Yr. Avg. 25.9%
Operating Margin 8.1%
Oper. Margin - 3 Yr. Avg. 7%
Pre-Tax Margin 6%
Pre-Tax Margin - 3 Yr. Avg. 6.1%
Net Profit Margin 3.9%
Net Profit Margin - 3 Yr. Avg. 3.9%
Effective Tax Rate 34.7%
Eff/ Tax Rate - 3 Yr. Avg. 34.8%
Payout Ratio 34.7%

R stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the R stock intrinsic value calculation we used $7329.599 million for the last fiscal year's total revenue generated by Ryder System. The default revenue input number comes from 0001 income statement of Ryder System. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our R stock valuation model: a) initial revenue growth rate of 16.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.2%, whose default value for R is calculated based on our internal credit rating of Ryder System, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Ryder System.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of R stock the variable cost ratio is equal to 91.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for R stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Ryder System.

Corporate tax rate of 27% is the nominal tax rate for Ryder System. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the R stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for R are equal to 125.9%.

Life of production assets of 7.5 years is the average useful life of capital assets used in Ryder System operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for R is equal to 0.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2841.671 million for Ryder System - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 53.095 million for Ryder System is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Ryder System at the current share price and the inputted number of shares is $3.0 billion.

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COMPANY NEWS

▶ Ryder: 3Q Earnings Snapshot   [08:03AM  Associated Press]
▶ Ryder Reports Third Quarter 2018 Results   [07:55AM  Business Wire]
▶ Forbes Names Ryder among the Worlds Best Employers for 2018   [Oct-22-18 06:55AM  Business Wire]
▶ Is Ryder (R) a Great Value Stock Right Now?   [Oct-15-18 09:10AM  Zacks]
▶ Ryder Declares Quarterly Cash Dividend   [Oct-05-18 04:30PM  Business Wire]
▶ US factories grew at slower pace in September   [11:54AM  Associated Press]
▶ Ryder CFO to retire after 20 years   [07:57AM  American City Business Journals]
▶ [$$] Ryder Chief Financial Officer to Retire in 2019   [Sep-25-18 07:05PM  The Wall Street Journal]
▶ Ryder EVP & CFO to Address Morgan Stanley Laguna Conference   [Sep-11-18 04:30PM  Business Wire]
▶ US factories grew at faster pace in August   [Sep-04-18 11:17AM  Associated Press]
▶ Should You Buy Ryder System Inc (NYSE:R) Now?   [Aug-29-18 08:49AM  Simply Wall St.]
▶ Top Ranked Income Stocks to Buy for August 27th   [Aug-27-18 01:06PM  InvestorPlace]
▶ Ryder Enhances Customer Experience with Uber Central   [Aug-07-18 06:55AM  Business Wire]
▶ Dedicated, Lease Operations Power Ryder Earnings   [Jul-26-18 11:54AM  Benzinga]
▶ Ryder System (R) Beats on Q2 Earnings   [Jul-25-18 09:57AM  Zacks]
▶ Ryder: 2Q Earnings Snapshot   [08:00AM  Associated Press]
▶ Ryder Reports Second Quarter 2018 Results   [07:55AM  Business Wire]
▶ Ryder Increases Quarterly Cash Dividend   [Jul-13-18 04:30PM  Business Wire]
▶ Ryder Honors Top Carriers of the Year   [Jun-29-18 06:55AM  Business Wire]
▶ A Look At Ryder System Incs (NYSE:R) Exceptional Fundamentals   [Jun-21-18 10:28AM  Simply Wall St.]
▶ Ryder Named GM Supplier of the Year by General Motors   [May-23-18 04:30PM  Business Wire]
▶ Ryder launches app for trucking companies, drivers   [07:20AM  American City Business Journals]
▶ Higher Oil Price: Winners and Losers   [May-11-18 09:41AM  Zacks]
▶ Ryder Declares Quarterly Cash Dividend   [May-04-18 04:30PM  Business Wire]

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