Ryder System, Inc. (R): Business Model Canvas

In der dynamischen Welt des Transports und der Logistik zeichnet sich Ryder System, Inc. als transformative Kraft aus und bietet innovative Lösungen, die die Art und Weise, wie Unternehmen ihre Flotten- und Lieferkettenabläufe verwalten, neu definieren. Mit einem ausgefeilten Business Model Canvas, das modernste Technologie, umfassende Dienstleistungen und kundenorientierte Ansätze strategisch integriert, hat sich Ryder als zentraler Akteur im kommerziellen Transport-Ökosystem positioniert. Diese Untersuchung wird die komplizierten Mechanismen hinter dem Geschäftsmodell von Ryder enthüllen und aufzeigen, wie das Unternehmen in einem immer komplexeren und wettbewerbsintensiveren Markt Werte schafft, liefert und erfasst.

Ryder System, Inc. (R) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianzen mit Lkw-Herstellern

Ryder unterhält strategische Partnerschaften mit großen Lkw-Herstellern, um sein Flottenmanagement und seine Logistikabläufe zu unterstützen.

Hersteller	Einzelheiten zur Partnerschaft	Fahrzeugtypen
Navistar International	Langfristiger Flottenbeschaffungsvertrag	Nutzfahrzeuge, mittelschwere Fahrzeuge
Volvo-Gruppe	Strategische Beschaffungspartnerschaft	Schwerlastkraftwagen, Nutzfahrzeuge

Flottenmanagement-Technologiepartnerschaften

Ryder arbeitet mit Technologieanbietern zusammen, um die Fähigkeiten des Flottenmanagements zu verbessern.

• Geotab – Telematik- und Flottenverfolgungslösungen
• Samsara – IoT und vernetzte Flottentechnologien
• Fleet Complete – Integration von Flottenmanagement-Software

Kooperationen im Versicherungs- und Wartungsdienst

Ryder arbeitet mit spezialisierten Dienstleistern zusammen, um die Flottenwartung und das Risikomanagement zu optimieren.

Partner	Servicetyp	Jährlicher Vertragswert
Fortschrittliche Versicherung	Gewerbliche Flottenversicherung	45 Millionen Dollar
Cummins Inc.	Fahrzeugwartungs- und Reparaturdienste	78 Millionen Dollar

Partnerschaften im Bereich Automobil- und Logistiksoftware

Ryder integriert fortschrittliche Softwarelösungen, um die betriebliche Effizienz zu steigern.

• Oracle – Enterprise-Resource-Planning-Systeme
• SAP – Logistikmanagementsoftware
• Manhattan Associates – Supply-Chain-Technologielösungen

Gesamtwert des Partnerschaftsnetzwerks: Ungefähr 250 Millionen US-Dollar pro Jahr

Ryder System, Inc. (R) – Geschäftsmodell: Hauptaktivitäten

Flottenleasing- und Mietdienstleistungen

Ryder betreibt zum 31. Dezember 2022 eine Flotte von 263.300 Fahrzeugen. Die Gesamteinnahmen aus Flottenleasing beliefen sich im Jahr 2022 auf 2,6 Milliarden US-Dollar.

Fahrzeugtyp	Anzahl der Einheiten
Nutzfahrzeuge	192,400
Traktoren	48,700
Anhänger	22,200

Lieferketten- und Transportmanagement

Ryder verwaltete im Jahr 2022 154 Supply-Chain-Einrichtungen mit einer Fläche von 46,8 Millionen Quadratfuß.

• Umsatz mit Supply-Chain-Lösungen: 1,7 Milliarden US-Dollar im Jahr 2022
• Anzahl der Supply-Chain-Einrichtungen: 154
• Gesamtfläche der Einrichtungen: 46,8 Millionen

Fahrzeugwartung und -reparatur

Ryder betreibt 294 Wartungseinrichtungen in ganz Nordamerika.

Wartungsservice	Jahresvolumen
Vorbeugende Wartungsinspektionen	475,000
Reparaturaufträge abgeschlossen	350,000

Logistik- und Vertriebslösungen

Ryder bietet umfassende Logistikdienstleistungen für mehrere Branchen.

• Logistikumsatz: 1,1 Milliarden US-Dollar im Jahr 2022
• Anzahl Logistikkunden: 50.000+
• Belieferte Branchen: Automobil, Lebensmittel und Getränke, Einzelhandel, Technologie

Spezielle Transportdienste

Das dedizierte Transportsegment erwirtschaftete im Jahr 2022 einen Umsatz von 2,2 Milliarden US-Dollar.

Servicemerkmal	Detailliert
Insgesamt dedizierte LKWs	14,800
Durchschnittliche Vertragsdauer	5 Jahre

Ryder System, Inc. (R) – Geschäftsmodell: Schlüsselressourcen

Umfangreicher Fuhrpark an Nutzfahrzeugen

Im vierten Quartal 2023 unterhält Ryder System, Inc. eine Flotte von etwa 70.500 Nutzfahrzeugen. Die Flottenzusammensetzung umfasst:

Fahrzeugkategorie	Anzahl der Fahrzeuge
LKWs	52,300
Anhänger	18,200

Fortschrittliche Telematik- und Flottenmanagement-Technologie

Die Technologieinfrastruktur von Ryder umfasst:

• Flottenmanagementsoftware, die 100 % der eigenen Fahrzeuge abdeckt
• Echtzeit-GPS-Tracking für die gesamte kommerzielle Flotte
• Prädiktive Wartungssysteme, die im gesamten Fahrzeugnetzwerk integriert sind

Qualifizierte Arbeitskräfte

Belegschaftsmetrik	Daten für 2023
Gesamtzahl der Mitarbeiter	9,800
Durchschnittliche jahrelange Erfahrung	12,5 Jahre

Bundesweites Servicenetzwerk

Servicestandorte: Über 500 Servicezentren in den Vereinigten Staaten und Kanada

Digitale Plattformen

• Cloudbasiertes Flottenverfolgungssystem
• Mobile Verwaltungsanwendungen
• Integrierte Logistikmanagementplattform

Gesamtinvestition in die Technologieinfrastruktur: 127 Millionen US-Dollar im Jahr 2023

Ryder System, Inc. (R) – Geschäftsmodell: Wertversprechen

Umfassende Transport- und Logistiklösungen

Ryder System, Inc. erzielte im Geschäftsjahr 2022 einen Gesamtumsatz von 9,26 Milliarden US-Dollar. Das Unternehmen bietet umfassende Transport- und Logistiklösungen mit einer Flotte von rund 239.400 Fahrzeugen.

Servicekategorie	Jahresumsatz	Marktsegment
Flottenmanagementlösungen	2,3 Milliarden US-Dollar	Kommerzielle Unternehmen
Supply-Chain-Lösungen	1,8 Milliarden US-Dollar	Logistik-Outsourcing
Gebrauchtwagenverkauf	1,1 Milliarden US-Dollar	Fahrzeug-Remarketing

Flexible Fahrzeugleasing- und Mietoptionen

Ryder bietet mehrere Fahrzeugleasingkonfigurationen mit etwa 50.000 verfügbaren gewerblichen Mietfahrzeugen an.

• Full-Service-Leasingoptionen
• Miet-Lkw-Programme
• Spezielle Vertragsbeförderung

Reduzierte Betriebskosten für Unternehmen

Ryder hilft Unternehmen, die Gesamtbetriebskosten durch integrierte Flottenmanagementdienste um etwa 15–20 % zu senken.

Kostensenkungsbereich	Prozentsatz der Einsparung
Wartungskosten	18%
Kraftstoffeffizienz	12%
Verwaltungsaufwand	22%

Maßgeschneiderte Flottenmanagementdienste

Ryder bedient über 50.000 Kunden aus verschiedenen Branchen mit maßgeschneiderten Transportlösungen.

• Automobil
• Einzelhandel
• Essen und Trinken
• Herstellung

Erhöhte Effizienz und Zuverlässigkeit im Transportwesen

Ryder unterhält eine technologisch fortschrittliche Flotte mit einer Fahrzeugverfügbarkeit von 99,5 % und Echtzeit-Tracking-Funktionen.

Technologiemerkmal	Leistungsmetrik
Fahrzeugverfügbarkeit	99.5%
GPS-Tracking	100 % Flottenabdeckung
Vorausschauende Wartung	87 % Genauigkeit

Ryder System, Inc. (R) – Geschäftsmodell: Kundenbeziehungen

Dedizierte Kontoverwaltung

Ryder System bietet eine dedizierte Kontoverwaltung für wichtige Geschäfts- und Unternehmenskunden. Im Jahr 2023 bedient Ryder rund 50.000 gewerbliche Kunden in verschiedenen Transport- und Logistiksegmenten.

Kundensegment	Anzahl der dedizierten Konten	Durchschnittliche Vertragsdauer
Große Flottenbetreiber	1,200	5-7 Jahre
Kleine bis mittlere Unternehmen	3,800	3-5 Jahre

Kundensupport und Service rund um die Uhr

Ryder unterhält eine umfassende Kundensupport-Infrastruktur mit Serviceverfügbarkeit rund um die Uhr.

• Kundendienstzentren: 12 landesweite Standorte
• Durchschnittliche Antwortzeit: Weniger als 15 Minuten
• Jährliche Interaktionen mit dem Kundensupport: Über 500.000

Personalisierte Flottenberatung

Ryder bietet spezialisierte Flottenmanagement-Beratungsdienste mit engagierten Experten.

Art der Beratungsdienstleistung	Jährliche Kunden betreut	Durchschnittlicher Wert des Beratungsengagements
Flottenoptimierung	850	$75,000 - $250,000
Technologieintegration	650	$100,000 - $350,000

Digitale Self-Service-Plattformen

Die digitalen Plattformen von Ryder ermöglichen Self-Service für Kunden und Flottenmanagement in Echtzeit.

• Nutzer digitaler Plattformen: 35.000 aktive Konten
• Downloads mobiler Apps: 22.000
• Jährliche digitale Transaktionen: 1,2 Millionen

Langfristige vertragsbasierte Beziehungen

Ryder legt Wert auf langfristige Vertragsbeziehungen mit den Kunden.

Vertragstyp	Durchschnittlicher Vertragswert	Retentionsrate
Full-Service-Leasing	$500,000 - $2,000,000	92%
Spezieller Transport	$750,000 - $3,500,000	88%

Ryder System, Inc. (R) – Geschäftsmodell: Kanäle

Direktvertrieb

Ryder System unterhält ab 2023 ein engagiertes Vertriebsteam von 1.247 professionellen Vertriebsmitarbeitern. Das Direktvertriebsteam erwirtschaftet durch direkte Kundeninteraktionen einen Jahresumsatz von rund 2,8 Milliarden US-Dollar.

Vertriebsteam-Metrik	Daten für 2023
Gesamtzahl der Vertriebsmitarbeiter	1,247
Durchschnittlicher Umsatz pro Vertreter	$2,244,267
Direkter Umsatz	2,8 Milliarden US-Dollar

Digitale Online-Plattformen

Die digitalen Plattformen von Ryder generieren 37 % der gesamten Kundeninteraktionen, mit einem geschätzten Online-Transaktionsvolumen von 1,05 Milliarden US-Dollar im Jahr 2023.

• Website-Traffic: 2,4 Millionen einzelne Besucher jährlich
• Abschlussrate digitaler Plattformtransaktionen: 68 %
• Online-Kundenservice-Interaktionen: 412.000 pro Jahr

Mobile Anwendungen für das Flottenmanagement

Die mobile Anwendung von Ryder unterstützt 22.500 aktive Flottenmanagementbenutzer und verarbeitet monatlich über 3,6 Millionen Flottenverfolgungstransaktionen.

Metrik für mobile Apps	Daten für 2023
Aktive Benutzer der Flottenmanagement-App	22,500
Monatliche Flottenverfolgungstransaktionen	3,6 Millionen

Branchenmessen und Konferenzen

Ryder nimmt jährlich an 47 Branchenmessen teil und generiert potenzielle Geschäftskontakte im Wert von etwa 156 Millionen US-Dollar.

• Insgesamt besuchte Messen: 47
• Geschätzter Wert der Lead-Generierung: 156 Millionen US-Dollar
• Durchschnittliche Leads pro Konferenz: 1.250

Strategische Vertriebspartnerschaften

Ryder unterhält 89 strategische Vertriebspartnerschaften und trägt im Jahr 2023 zu gemeinsamen Einnahmequellen in Höhe von 624 Millionen US-Dollar bei.

Partnerschaftsmetrik	Daten für 2023
Totale strategische Partnerschaften	89
Partnerschaftseinnahmen	624 Millionen US-Dollar
Durchschnittlicher Partnerschaftswert	7,01 Millionen US-Dollar

Ryder System, Inc. (R) – Geschäftsmodell: Kundensegmente

Kleine bis große Gewerbebetriebe

Ryder bedient gewerbliche Unternehmen unterschiedlicher Größenordnung mit Flottenmanagementlösungen.

Unternehmensgröße	Kundenanzahl	Jährlicher Umsatzbeitrag
Kleine Unternehmen	12,500	385 Millionen Dollar
Mittelständische Unternehmen	7,800	624 Millionen US-Dollar
Große Unternehmen	3,200	1,2 Milliarden US-Dollar

Automobil- und Transportunternehmen

Ryder bietet umfassende Logistik- und Transportlösungen.

• Unterstützte Automobilhersteller: 42
• Belieferte Transportunternehmen: 1.850
• Jährlicher Flottenleasingumsatz: 2,3 Milliarden US-Dollar

Einzelhandels- und E-Commerce-Logistikanbieter

Ryder unterstützt komplexe Supply-Chain-Anforderungen für den Einzelhandel und den digitalen Handel.

Segment	Kundenanzahl	Umsatzerlöse aus Logistikdienstleistungen
Einzelhandelsunternehmen	1,100	675 Millionen Dollar
E-Commerce-Anbieter	850	520 Millionen Dollar

Fertigungs- und Industrieunternehmen

Ryder liefert spezialisierte Logistiklösungen für den Fertigungssektor.

• Fertigungskunden: 2.300
• Umsatz im Industriesektor: 890 Millionen US-Dollar
• Lieferkettenmanagementverträge: 680

Regierung und kommunale Organisationen

Ryder bietet Flottenmanagement- und Logistikdienstleistungen für Unternehmen des öffentlichen Sektors an.

Regierungsebene	Kunden	Jährlicher Vertragswert
Bundesbehörden	38	215 Millionen Dollar
Landesregierungen	47	180 Millionen Dollar
Kommunale Organisationen	226	95 Millionen Dollar

Ryder System, Inc. (R) – Geschäftsmodell: Kostenstruktur

Fahrzeugbeschaffung und -wartung

Laut Finanzbericht 2023 beliefen sich die Wartungs- und Anschaffungskosten für die Flotte von Ryder auf insgesamt 1,87 Milliarden US-Dollar. Das Unternehmen betreibt in seiner gesamten Flotte rund 70.000 Nutzfahrzeuge.

Kostenkategorie	Jährliche Ausgaben
Fahrzeugkäufe	1,2 Milliarden US-Dollar
Flottenwartung	670 Millionen Dollar

Technologie- und Infrastrukturinvestitionen

Ryder investierte im Jahr 2023 124,5 Millionen US-Dollar in Technologie und digitale Infrastruktur und konzentrierte sich dabei auf Flottenmanagementsysteme und Logistiktechnologien.

• Cloudbasierte Flottenmanagementplattformen
• Telematiksysteme
• Vorausschauende Wartungstechnologien

Arbeits- und Personalkosten

Die gesamten Personalkosten für Ryder beliefen sich im Jahr 2023 auf 1,45 Milliarden US-Dollar und deckten etwa 40.000 Mitarbeiter ab.

Personalkategorie	Jährliche Kosten
Gehälter	1,1 Milliarden US-Dollar
Vorteile	350 Millionen Dollar

Treibstoff- und Betriebskosten

Die Treibstoffkosten für Ryders Flotte beliefen sich im Jahr 2023 auf 512 Millionen US-Dollar, was einen erheblichen Betriebsaufwand darstellt.

• Durchschnittlicher Dieselkraftstoffverbrauch: 35 Millionen Gallonen pro Jahr
• Technologien zur Kraftstoffeffizienz implementiert

Marketing- und Vertriebsausgaben

Die Marketing- und Vertriebskosten für Ryder beliefen sich im Jahr 2023 auf 87,3 Millionen US-Dollar.

Marketingkanal	Ausgaben
Digitales Marketing	42 Millionen Dollar
Messen und Events	22,3 Millionen US-Dollar
Betrieb des Vertriebsteams	23 Millionen Dollar

Ryder System, Inc. (R) – Geschäftsmodell: Einnahmequellen

Fahrzeugleasing und Mietgebühren

Für das Geschäftsjahr 2023 berichtete Ryder 2,75 Milliarden US-Dollar im Umsatz des Segments Fahrzeugleasing. Die Flottengröße bestand aus ca 255.000 Fahrzeuge in den Segmenten Gewerbe und Vermietung.

Fahrzeugtyp	Jahresumsatz	Durchschnittliche Leasingrate
Nutzfahrzeuge	1,85 Milliarden US-Dollar	7.250 $ pro Fahrzeug
Mietfahrzeuge	900 Millionen Dollar	4.500 $ pro Fahrzeug

Wartungs- und Reparaturdienste

Wartungserlöse für 2023 erreicht 1,2 Milliarden US-Dollar, mit Serviceabdeckung für über 175.000 Fahrzeuge.

• Vorbeugende Wartung: 450 Millionen US-Dollar
• Reparaturdienste: 750 Millionen US-Dollar

Spezielle Transportverträge

Dediziertes Transportsegment generiert 2,1 Milliarden US-Dollar im Jahr 2023 im Dienst 350 Unternehmenskunden.

Vertragstyp	Jahresumsatz	Anzahl der Verträge
Langfristige Verträge	1,6 Milliarden US-Dollar	225 Verträge
Kurzfristige Verträge	500 Millionen Dollar	125 Verträge

Logistik- und Supply-Chain-Lösungen

Segment Supply Chain Solutions generiert 1,5 Milliarden US-Dollar im Jahr 2023 Logistikmanagement für 250 Unternehmen.

Abonnements für Flottenmanagement-Technologie

Technologie- und Telematikdienstleistungen generiert 180 Millionen Dollar, mit 45.000 Flottenkunden Nutzung digitaler Plattformen.

Technologiedienst	Jahresumsatz	Abonnentenzahl
Telematikplattform	90 Millionen Dollar	25.000 Abonnenten
Flottenmanagement-Software	90 Millionen Dollar	20.000 Abonnenten

Ryder System, Inc. (R) - Canvas Business Model: Value Propositions

You're looking at how Ryder System, Inc. (R) delivers distinct value across its core offerings as of late 2025. This isn't just about moving assets; it's about guaranteed performance and digital control.

Full-Service Leasing (ChoiceLease): Reduced total cost of ownership and guaranteed uptime

The value here centers on predictable costs and operational continuity. For the full year 2025, Ryder System, Inc. projects an Adjusted Return on Equity (ROE) (non-GAAP) of 17%, showing the financial benefit of their contractual model. Capital expenditures for leasing specifically were reduced year-to-date 2025 to $1.2 billion, down from $1.5 billion in 2024, suggesting efficiency in asset deployment. The company's debt-to-equity ratio stood at 254% as of September 30, 2025, which is at the lower end of their long-term target range of 250% to 300%.

Here's a snapshot of the financial context supporting this segment:

Metric	2025 Q3 Actual / Projection	Prior Year / Context
Operating Revenue (FMS)	$1.28 billion	Almost in line year-over-year
Full Year 2025 Projected Free Cash Flow	$900 million - $1 billion	Year-to-date FCF was $496 million compared to $218 million prior year
Full Year 2025 Projected Comparable EPS (non-GAAP)	$12.85 - $13.05	Comparable EPS for Q3 2025 was $3.57, up 4% year-over-year

Turnkey EV Adoption: RyderElectric+™ solution for vehicle, charging, and maintenance

RyderElectric+™ addresses the complexity of fleet electrification. While the US market for Battery Electric Vehicles (BEVs) in new sales stalled at just 7.5% by mid-2025, Ryder System, Inc. is positioned to help customers overcome barriers like charging infrastructure concerns. Globally, electrified vehicles (including hybrids) represented 43% of total auto sales in Q1 2025. The value proposition is managing the transition, which is critical given that 44% of US consumers cited insufficient public charging infrastructure in their area as of 2025.

End-to-End Logistics: Seamless port-to-door supply chain and dedicated transportation

This delivers reliability from the port onward. The Supply Chain Solutions (SCS) segment showed strong growth, reporting operating revenues of $1.03 billion in Q3 2025, a 4% year-over-year increase. Total revenue for the entire company in Q3 2025 was $3.2 billion. The company's overall operating revenue (non-GAAP) for Q3 2025 was $2.6 billion, up 1% year-over-year, driven by contractual growth in SCS and Fleet Management Solutions (FMS).

Last-Mile Delivery: White-glove service for big-and-bulky goods, driving brand loyalty

The focus here is on the customer experience at the final touchpoint. Last-mile delivery costs are a significant factor, accounting for 41% of total supply chain expenses. Ryder System, Inc.'s research indicates that 96% of consumers who had a positive delivery experience are more likely to shop with that retailer again. Furthermore, over 70% of consumers are willing to pay for premium services like installation, setup, and haul-away.

Key last-mile experience statistics:

• 96% of consumers are more likely to return after a positive experience.
• Over 70% are willing to pay for premium services.
• Last-mile costs represent 41% of total supply chain expenses.

Digital Visibility: Real-time tracking and exception management via RyderShare

RyderShare™ provides the data to manage operations proactively. Users of the platform have seen efficiency gains, specifically up to a 50% increase in productivity. Labor efficiency savings at the freight receiving site have been reported up to 35% due to more precise arrival information. The platform has over 200+ customers onboarded. This digital layer helps manage the complexity, as the company's SCS/DTS revenue mix increased to 60% of total revenue, up from 56% in 2018.

Finance: draft 13-week cash view by Friday.

Ryder System, Inc. (R) - Canvas Business Model: Customer Relationships

You're looking at how Ryder System, Inc. keeps its customers locked in, which is key since their business is built on long-term commitments.

Contractual: Long-term, high-value contracts for ChoiceLease, SCS, and DTS (approx. 90% of revenue)

Ryder System, Inc. relies heavily on its contractual base, which is reported to be approximately 90% of total revenue, covering ChoiceLease, SCS, and DTS services. This structure helps support stable cash flow generation. For context on the scale, the Fleet Management Solutions (FMS) segment had 145,300 vehicles under the ChoiceLease program at the end of 2024. The Dedicated Transportation Solutions (DTS) segment managed 19,100 vehicles by the end of 2024, reflecting growth from acquisitions like Cardinal Logistics. The Supply Chain Solutions (SCS) segment managed 13,000 vehicles in 2024. Contractual revenue growth is a focus; for instance, Q2 2025 Operating revenue (non-GAAP) of $2.6 billion reflected contractual revenue growth in both SCS and FMS.

Here's a look at the segment revenue contribution as of late 2024, showing the shift toward contractual services:

Segment	2024 Revenue (Billions USD)	2018 Revenue Contribution Percentage	2024 Revenue Contribution Percentage
Supply Chain Solutions (SCS) & Dedicated Transportation Solutions (DTS) Combined	$7.75 B (Approximate)	44%	61%
Fleet Management Solutions (FMS)	$5.89 B (2024)	56% (Implied)	39% (Implied)

The company's 2025 outlook anticipates a 1% increase in full-year Operating revenue (non-GAAP), with Q2 2025 Comparable EPS (non-GAAP) reaching $3.32, up 11% from the prior year, driven by higher contractual earnings. For Q3 2025, Comparable EPS (non-GAAP) was $3.57, up 4% year-over-year.

Dedicated Account Management: Strategic advisory and customized solution engineering

Ryder System, Inc. provides strategic advisory and customized solution engineering through its dedicated services. The DTS segment saw its operating revenue increase by 44% in the fiscal year, largely due to the Cardinal Logistics acquisition, which bolsters turnkey transportation solutions. The SCS segment focuses on optimizing logistics networks, with transportation management solutions accounting for 12% of its SCS revenue in 2024. The company's focus on structural changes and operational efficiencies drives growth in these asset-light businesses.

Tech-Enabled Self-Service: Mobile apps (RyderGyde) for rental, maintenance, and fleet status

Ryder System, Inc. supports customer interaction through technology. For example, the company launched Torque by Ryder®, an on-demand retail mobile maintenance solution, in select U.S. markets in 2023. The customer experience in related logistics services is critical; a 2025 study indicated that 96% of consumers who had a positive delivery experience said they're more likely to shop with that retailer again. Furthermore, nearly 1 in 3 consumers now schedule deliveries online.

Transactional: Short-term commercial truck rental and used vehicle sales

The transactional side includes commercial rental and used vehicle sales, which are less stable than the contractual business. In 2024, commercial rental revenue accounted for 17% of the FMS total revenue. The company expects only a modest improvement in rental demand later in 2025. Used vehicle sales proceeds are a factor in cash flow, with the 2025 Free Cash Flow forecast benefiting from lower proceeds from sales of used vehicles compared to prior periods. Fuel services, which are largely a pass-through cost, accounted for 13% of FMS total revenue in 2024.

The company forecasts Net cash provided by operating activities from continuing operations to be ~$2.5B for the full year 2025, with a revised full-year Free Cash Flow (non-GAAP) forecast between $900 million and $1 billion.

Ryder System, Inc. (R) - Canvas Business Model: Channels

You're looking at how Ryder System, Inc. (R) gets its services-from maintenance to complex logistics-into the hands of its $\sim\mathbf{42,700}$ customers. It's a mix of physical presence and digital tools, all designed to support a heavy contractual focus.

Physical Service Network

The physical backbone of Ryder System, Inc. (R) is its extensive network of facilities supporting Fleet Management Solutions (FMS) and Supply Chain Solutions (SCS). This network is built for both vehicle servicing and logistics execution.

As of early 2025 reporting, the company maintained:

• $\sim\mathbf{760}$ maintenance locations globally.
• $\sim\mathbf{300}$ warehouses, with the SCS segment specifically managing $\mathbf{291}$ warehouses ($\mathbf{233}$ in the U.S. and $\mathbf{58}$ in Mexico and Canada).
• The acquisition of Cardinal Logistics added $\mathbf{200}$ operating locations to the network.

The company continues to expand this footprint, for example, by opening new truck rental and maintenance facilities in key markets like McDonough, Georgia.

Digital Platforms

Ryder System, Inc. (R) relies on digital channels to manage operations and interact with customers. These platforms are central to their strategy, which includes deploying a first-of-its-kind AI-powered digital platform and optimization engine.

Key digital components include:

• Ryder.com for customer interaction and used vehicle sales through its $\mathbf{63}$ retail sales centers in North America.
• Proprietary order technology like RyderShip™, which supports e-commerce fulfillment solutions.
• Digital channels used for the sale of used trucks, tractors, and trailers from the fleet.

Sales Force

The sales effort is heavily geared toward securing long-term, contractual revenue streams, which provides resilience against market cycles. This focus is evident in the revenue mix shift.

Here's a quick look at the contractual business emphasis:

Metric	2018	2025 (Expected)
Revenue from Asset-Light Businesses (SCS & DTS)	44%	60%
Total Annual Revenue	(Implied $\sim\mathbf{\$8.4}$ billion)	$\mathbf{\$12.6}$ billion

The direct sales teams focus on locking in these multi-year agreements, which drove contractual earnings growth and contributed to the $\mathbf{2025}$ comparable EPS forecast of $\mathbf{\$12.85}$ to $\mathbf{\$13.05}$.

E-fulfillment Network

For the Supply Chain Solutions (SCS) segment, the e-fulfillment network is a critical channel for delivering goods, especially for e-commerce and last-mile needs. This network is designed for speed and broad coverage across North America.

The network capabilities include:

• A network of more than $\sim\mathbf{150}$ strategically located sites across the U.S..
• The goal is to provide two-day delivery across the entire U.S.. Following an acquisition, Ryder projected delivery to 100% of the U.S. within two days and 60% within one day.
• Ryder manages over 20 omnichannel facilities across seven gateway markets, totaling more than 10 million square feet of space.

This network supports omnichannel delivery services through more than $\mathbf{150}$ sites throughout the U.S..

Ryder System, Inc. (R) - Canvas Business Model: Customer Segments

You're looking at the core groups Ryder System, Inc. (R) serves, which drives their three main reporting segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). As of late 2025, based on Q3 2025 performance and end-of-2024 fleet metrics, the customer base is diverse, spanning from small businesses to major national brands.

Ryder System, Inc. (R) serves approximately ~42,700 customers across its operations in the U.S., Canada, and Mexico, managing a fleet of ~250,000 vehicles under management as of early 2025 figures. The company's total revenue for the trailing twelve months ending September 30, 2025, was $12.7B.

Large and Mid-Sized Commercial Fleets: Seeking to outsource vehicle ownership and maintenance

This group primarily utilizes the Fleet Management Solutions (FMS) segment, which is the largest revenue contributor, generating $5.89 Billion in revenue in fiscal year 2024. These customers are looking for full-service leasing and flexible maintenance options. At the end of 2024, the FMS segment managed 191,900 vehicles, with 145,300 vehicles under the ChoiceLease program, which is a key offering for this segment. Earnings before tax (EBT) for FMS in Q3 2025 increased by 11% to $146 million, showing strong contractual performance despite weaker used vehicle sales and rental market conditions.

E-commerce and Omnichannel Retailers: Requiring complex fulfillment and last-mile delivery

These customers are central to the Supply Chain Solutions (SCS) segment. SCS saw its total revenue increase by 5% in Q3 2025, with operating revenue up 4%, driven by new business in omnichannel retail. Ryder supports this segment with omnichannel delivery services through a network of over 150 sites strategically located throughout the U.S. While operating revenue grew, SCS EBT in Q3 2025 was $86 million, reflecting an 8% decline due to e-commerce network performance and medical costs.

Large Shippers: Needing managed transportation and dedicated capacity

Large shippers rely heavily on the Dedicated Transportation Solutions (DTS) segment for turnkey transportation, which includes dedicated vehicles and professional drivers. DTS revenue in fiscal year 2024 was $2.45 B, representing 17.94% of total revenue. This segment experienced softer freight demand in Q3 2025, with total revenue declining by 10% and operating revenue dropping by 6%, primarily due to a lower fleet count. The SCS segment also supports large shippers with integrated logistics, as Ryder works with the top 10 food and beverage companies in the U.S.

Businesses Across All Industries: Utilizing commercial rental for peak demand or breakdown coverage

This broad customer base uses the commercial rental portion of FMS for short-term needs. At the end of 2024, the commercial rental fleet stood at 35,500 vehicles. Rental utilization for the power fleet was steady at 66% year-over-year in Q1 2025, and the projected rental capital spending for the full year 2025 is $300 million. This service helps businesses of all sizes maintain operations during peak seasons or unexpected breakdowns.

Here's a quick look at the segment revenue contribution based on the most recent full-year data available:

Segment	FY 2024 Revenue (Approximate)	FY 2024 Revenue Share	Q3 2025 EBT
Fleet Management Solutions (FMS)	$5.89 Billion	43.19%	$146 million (Up 11%)
Supply Chain Solutions (SCS)	$5.30 Billion	38.87%	$86 million (Down 8%)
Dedicated Transportation Solutions (DTS)	$2.45 Billion	17.94%	Not explicitly stated for DTS only in Q3 2025

The customer base is heavily reliant on contractual arrangements, as multi-year contracts account for over 90% of Ryder System, Inc.'s operating revenue as of Q3 2025.

• FMS vehicle count (End of 2024): 191,900 total.
• SCS supports logistics for globally-recognized brands.
• DTS provides professional drivers, totaling 13,400 company-wide.
• Rental fleet size (End of 2024): 35,500 vehicles.
• The company has 50,700 employees as of early 2025.

Finance: draft 13-week cash view by Friday.

Ryder System, Inc. (R) - Canvas Business Model: Cost Structure

You're looking at the heavy asset base Ryder System, Inc. (R) needs to keep running its massive fleet, which is the core of its cost structure. This is where the capital goes before a single service is rendered.

Capital Expenditures

The fleet investment is the single largest driver here. Ryder System, Inc. (R) forecasts full-year 2025 gross capital expenditures to be approximately $2.3 billion. This is down from the 2024 gross CapEx of $2.7 billion, showing a deliberate step back in investment pace amid market conditions. You see this reduction reflected in the year-to-date numbers, too; for instance, year-to-date lease capital expenditures were $1.2 billion in 2025, down from $1.5 billion in 2024. Specifically, rental capital spending is projected to decline to $300 million for the full year 2025. To be fair, these figures represent the cost of acquiring the assets that generate the revenue, so they are lumpy.

Operating Costs

Once the assets are acquired, the day-to-day burn rate kicks in. This includes significant expenses for maintenance, fuel, and driver labor, which are embedded within the Cost of Sales and Operating Expenses. For the fiscal quarter ending in September of 2025, Ryder System, Inc. (R) reported Operating Expenses of $2.88B. The Cost of Sales for that same quarter was $2.51B. Maintenance costs are a key component of the Cost of lease & related maintenance and rental, which saw a 2% decrease in 2024 due to lower costs on a younger fleet and maintenance cost savings initiatives. Driver labor is a huge component of the Dedicated Transportation Solutions segment costs.

The breakdown of major cost components for the third quarter of 2025 is telling:

Financial Metric (Q3 2025)	Amount (USD Millions)
Operating Expenses	2,880
Cost of Sales	2,510
Interest Expense on Debt	102
Unallocated CSS Costs (IT related)	21

Technology Investment

Funding proprietary platforms and innovation labs is a non-negotiable cost to maintain a competitive edge. Ryder System, Inc. (R) has been investing heavily here; since 2018, the company has put more than $1.7 billion into leading-edge technology. This builds on prior strategic investments, including the $1.3 billion made over the five years leading up to 2023 to establish and grow Baton: A Ryder Technology Lab. These technology costs are now showing up in operational line items, such as the unallocated CSS costs, which increased to $21 million in Q3 2025, primarily due to information technology costs.

Key technology-related cost drivers include:

• Funding for the Baton: A Ryder Technology Lab staff and operations.
• Investment in proprietary platforms like RyderShare™, RyderShip™, RyderGyde™, and RyderView™.
• Costs associated with evaluating and automating warehouse space, like deploying over 1,000 autonomous robots.

Interest Expense

Financing the massive lease and rental fleet assets means interest expense is a constant, significant cost. For the fiscal quarter ending in September of 2025, Ryder System, Inc. (R) reported Interest Expense on Debt of $102M. Looking at the nine months ending September 30, 2025, the cumulative interest expense was $304 million. This cost is reported separately from the Cost of lease & related maintenance and rental, which excludes vehicle financing interest costs. The company's Debt stood at $8.72B as of that same period, which directly ties to this financing cost.

Finance: draft 13-week cash view by Friday.

Ryder System, Inc. (R) - Canvas Business Model: Revenue Streams

You're looking at how Ryder System, Inc. actually brings in the money, which is key to understanding its valuation, especially with the shift toward asset-light services. Honestly, the revenue streams are heavily weighted toward recurring, contractual income, which is what management likes to highlight for stable cash flow generation.

Ryder System, Inc. reported Total Revenue for the twelve months ending September 30, 2025, was $12.679B. The company's operating revenue (non-GAAP, excluding fuel services) for the third quarter of 2025 was $2.6 billion.

Approximately 90% of total revenue is contractual, coming from the ChoiceLease, SCS, and DTS segments. Here's a look at the scale of the primary revenue components, using the latest available segment revenue data from 2024 as a baseline for the contractual streams, since precise 2025 segment revenue figures aren't fully broken out in the latest reports:

Revenue Stream Category	2024 Segment Revenue (Approximate)	Notes
Fleet Management Solutions (FMS) Total	$5.89 B	Includes ChoiceLease recurring payments
Supply Chain Solutions (SCS) Total	$5.30 B	Contractual fees for logistics and fulfillment
Dedicated Transportation Solutions (DTS) Total	$2.45 B	Contractual fees for dedicated fleet and drivers

The contractual revenue streams are the backbone, but the transactional side still matters for overall cash flow and market signaling. You see this in the performance of the FMS segment, where ChoiceLease is the recurring engine.

• ChoiceLease Revenue: Recurring monthly payments for full-service leasing.
• Supply Chain Solutions (SCS) Fees: Contractual fees for logistics, warehousing, and fulfillment services.
• Dedicated Transportation Solutions (DTS) Fees: Contractual fees for dedicated fleet and driver services.

The transactional portion, which includes commercial rental fees and used vehicle sales, is the variable part. For instance, in Q3 2025, FMS EBT increased 11%, driven primarily by higher ChoiceLease performance from pricing and maintenance cost-saving initiatives. Rental demand was noted as subdued in Q1 2025.

Transactional Revenue:

• Commercial rental fees.
• Proceeds from used vehicle sales (approx. $500 million expected in 2025).

To be fair, used vehicle sales pricing has been volatile; for example, used tractor pricing in Q3 2025 declined 6% year-over-year, while truck pricing declined 15%. Still, the contractual growth in SCS and DTS is what management points to, with DTS revenue up 39% in Q3 2025, partly due to the Cardinal Logistics acquisition.

Finance: draft 13-week cash view by Friday.