Ryder System, Inc. (R): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico de transporte e logística, a Ryder System, Inc. se destaca como uma força transformadora, oferecendo soluções inovadoras que redefinem como as empresas gerenciam suas operações de frota e cadeia de suprimentos. Com uma sofisticada tela de modelo de negócios que integra estrategicamente tecnologia de ponta, serviços abrangentes e abordagens centradas no cliente, a Ryder se posicionou como um participante fundamental no ecossistema de transporte comercial. Essa exploração revelará os intrincados mecanismos por trás do modelo de negócios de Ryder, revelando como a empresa cria, entrega e captura valor em um mercado cada vez mais complexo e competitivo.

Ryder System, Inc. (R) - Modelo de Negócios: Principais Parcerias

Alianças estratégicas com fabricantes de caminhões

A Ryder mantém parcerias estratégicas com os principais fabricantes de caminhões para apoiar suas operações de gerenciamento e logística de frota.

Fabricante	Detalhes da parceria	Tipos de veículos
Navistar International	Contrato de compras de frota de longo prazo	Caminhões comerciais, veículos médios
Grupo Volvo	Parceria de fornecimento estratégico	Caminhões pesados, veículos comerciais

Parcerias de Tecnologia de Gerenciamento de Frota

Ryder colabora com os provedores de tecnologia para aprimorar os recursos de gerenciamento de frota.

• Geotab - soluções de rastreamento de telemática e frota
• Samsara - IoT e tecnologias de frota conectadas
• Frota completa - Integração de software de gerenciamento de frota

Colaborações de serviços de seguro e manutenção

A Ryder faz parceria com provedores de serviços especializados para otimizar a manutenção da frota e o gerenciamento de riscos.

Parceiro	Tipo de serviço	Valor anual do contrato
Seguro progressivo	Seguro de frota comercial	US $ 45 milhões
Cummins Inc.	Serviços de manutenção e reparo de veículos	US $ 78 milhões

Parcerias de software automotivas e logísticas

Ryder integra soluções avançadas de software para melhorar a eficiência operacional.

• Oracle - Sistemas de planejamento de recursos corporativos
• SAP - Software de gerenciamento de logística
• Manhattan Associates - Soluções de tecnologia da cadeia de suprimentos

Valor da rede total de parcerias: aproximadamente US $ 250 milhões anualmente

Ryder System, Inc. (R) - Modelo de Negócios: Atividades -chave

Serviços de leasing e aluguel de frota

Ryder opera uma frota de 263.300 veículos em 31 de dezembro de 2022. A receita total de arrendamento de frota foi de US $ 2,6 bilhões em 2022.

Tipo de veículo	Número de unidades
Caminhões comerciais	192,400
Tratores	48,700
Reboques	22,200

Cadeia de suprimentos e gerenciamento de transporte

Ryder conseguiu 154 instalações da cadeia de suprimentos, cobrindo 46,8 milhões de pés quadrados em 2022.

• Receita de soluções da cadeia de suprimentos: US $ 1,7 bilhão em 2022
• Número de instalações da cadeia de suprimentos: 154
• Total de metragem quadrada de instalações: 46,8 milhões

Manutenção e reparo de veículos

A Ryder opera 294 instalações de manutenção em toda a América do Norte.

Serviço de manutenção	Volume anual
Inspeções de manutenção preventiva	475,000
Ordens de reparo concluídos	350,000

Soluções de logística e distribuição

Ryder fornece serviços de logística de ponta a ponta para vários setores.

• Receita logística: US $ 1,1 bilhão em 2022
• Número de clientes de logística: 50.000+
• Indústrias servidas: automotivo, alimentos e bebidas, varejo, tecnologia

Serviços de transporte dedicados

O segmento de transporte dedicado gerou US $ 2,2 bilhões em receita para 2022.

Característica do serviço	Detalhe
Total de caminhões dedicados	14,800
Duração média do contrato	5 anos

Ryder System, Inc. (R) - Modelo de negócios: Recursos -chave

Extensa frota de veículos comerciais

A partir do quarto trimestre 2023, a Ryder System, Inc. mantém uma frota de aproximadamente 70.500 veículos comerciais. A composição da frota inclui:

Categoria de veículo	Número de veículos
Caminhões	52,300
Reboques	18,200

Tecnologia avançada de telemática e gerenciamento de frotas

A infraestrutura tecnológica de Ryder inclui:

• Software de gerenciamento de frota cobrindo 100% dos veículos de propriedade
• Rastreamento de GPS em tempo real para toda a frota comercial
• Sistemas de manutenção preditiva integrados na rede de veículos

Força de trabalho qualificada

Métrica da força de trabalho	2023 dados
Total de funcionários	9,800
Anos médios de experiência	12,5 anos

Rede de Serviço Nacional

Locais de serviço: Mais de 500 centros de serviço nos Estados Unidos e no Canadá

Plataformas digitais

• Sistema de rastreamento de frota baseado em nuvem
• Aplicativos de gerenciamento móvel
• Plataforma de gerenciamento de logística integrada

Investimento total em infraestrutura de tecnologia: US $ 127 milhões em 2023

Ryder System, Inc. (R) - Modelo de Negócios: Proposições de Valor

Soluções abrangentes de transporte e logística

A Ryder System, Inc. gerou US $ 9,26 bilhões em receita total para o ano fiscal de 2022. A empresa fornece soluções de transporte e logística de ponta a ponta com uma frota de aproximadamente 239.400 veículos.

Categoria de serviço	Receita anual	Segmento de mercado
Soluções de gerenciamento de frota	US $ 2,3 bilhões	Empresas comerciais
Soluções da cadeia de suprimentos	US $ 1,8 bilhão	Terceirização de logística
Vendas de veículos usados	US $ 1,1 bilhão	Remarketing de veículos

Opções flexíveis de leasing e aluguel de veículos

A Ryder oferece várias configurações de leasing de veículos com aproximadamente 50.000 veículos de aluguel comerciais disponíveis.

• Opções de arrendamento de serviço completo
• Programas de aluguel de caminhões
• Carruagem de contrato dedicado

Custos operacionais reduzidos para empresas

A Ryder ajuda as empresas a reduzir o custo total de propriedade em aproximadamente 15 a 20% através de serviços de gerenciamento de frotas integrados.

Área de redução de custos	Porcentagem salva
Despesas de manutenção	18%
Eficiência de combustível	12%
Sobrecarga administrativa	22%

Serviços de gerenciamento de frota personalizados

A Ryder atende a mais de 50.000 clientes em vários setores com soluções de transporte personalizadas.

• Automotivo
• Varejo
• Comida e bebida
• Fabricação

Eficiência e confiabilidade aprimoradas no transporte

A Ryder mantém uma frota tecnologicamente avançada com 99,5% de tempo de atividade de veículos e recursos de rastreamento em tempo real.

Recurso de tecnologia	Métrica de desempenho
Tempo de atividade do veículo	99.5%
Rastreamento GPS	100% de cobertura da frota
Manutenção preditiva	87% de precisão

Ryder System, Inc. (R) - Modelo de Negócios: Relacionamentos do Cliente

Gerenciamento de conta dedicado

O Ryder System fornece gerenciamento de conta dedicado para os principais clientes comerciais e corporativos. A partir de 2023, Ryder atende a aproximadamente 50.000 clientes comerciais em vários segmentos de transporte e logística.

Segmento de clientes	Número de contas dedicadas	Duração média do contrato
Grandes operadores de frota	1,200	5-7 anos
Pequenas a médias empresas	3,800	3-5 anos

Suporte e serviço ao cliente 24/7

Ryder mantém uma infraestrutura abrangente de suporte ao cliente com disponibilidade de serviço 24/7.

• Centros de suporte ao cliente: 12 locais em todo o país
• Tempo médio de resposta: menos de 15 minutos
• Interações anuais de suporte ao cliente: mais de 500.000

Consultoria de frota personalizada

A Ryder oferece serviços especializados de consultoria de gerenciamento de frotas com especialistas dedicados.

Tipo de serviço de consultoria	Clientes anuais atendidos	Valor médio de engajamento de consultoria
Otimização da frota	850	$75,000 - $250,000
Integração de tecnologia	650	$100,000 - $350,000

Plataformas de autoatendimento digital

As plataformas digitais da Ryder permitem o autoatendimento do cliente e o gerenciamento de frotas em tempo real.

• Usuários da plataforma digital: 35.000 contas ativas
• Downloads de aplicativos móveis: 22.000
• Transações digitais anuais: 1,2 milhão

Relacionamentos baseados em contratos de longo prazo

Ryder enfatiza relacionamentos contratuais de longo prazo com os clientes.

Tipo de contrato	Valor médio do contrato	Taxa de retenção
Arrendamento de serviço completo	$500,000 - $2,000,000	92%
Transporte dedicado	$750,000 - $3,500,000	88%

Ryder System, Inc. (R) - Modelo de Negócios: Canais

Força de vendas direta

O Ryder System mantém uma força de vendas dedicada de 1.247 representantes de vendas profissionais a partir de 2023. A equipe de vendas direta gera aproximadamente US $ 2,8 bilhões em receita anual por meio de interações diretas de clientes.

Métrica da equipe de vendas	2023 dados
Total de representantes de vendas	1,247
Vendas médias por representante	$2,244,267
Receita de vendas direta	US $ 2,8 bilhões

Plataformas digitais online

As plataformas digitais de Ryder geram 37% do total de interações com os clientes, com um volume estimado de transação on -line de US $ 1,05 bilhão em 2023.

• Tráfego do site: 2,4 milhões de visitantes únicos anualmente
• Taxa de conclusão da transação da plataforma digital: 68%
• Interações de atendimento ao cliente on -line: 412.000 por ano

Aplicativos móveis de gerenciamento de frota

O aplicativo móvel da Ryder suporta 22.500 usuários de gerenciamento de frotas ativos, processando mais de 3,6 milhões de transações de rastreamento de frota mensalmente.

Métrica de aplicativo móvel	2023 dados
Usuários ativos de aplicativos de gerenciamento de frota	22,500
Transações mensais de rastreamento de frota	3,6 milhões

Feiras e conferências do setor

Ryder participa de 47 feiras do setor anualmente, gerando aproximadamente US $ 156 milhões em possíveis leads de negócios.

• TOTAL DE FERRO COMERCIAL ATÉRIO: 47
• Valor estimado da geração de leads: US $ 156 milhões
• Leads médios por conferência: 1.250

Parcerias de vendas estratégicas

Ryder mantém 89 parcerias estratégicas de vendas, contribuindo com US $ 624 milhões em fluxos de receita colaborativa para 2023.

Métrica de Parceria	2023 dados
Total de parcerias estratégicas	89
Receita de parceria	US $ 624 milhões
Valor médio de parceria	US $ 7,01 milhões

Ryder System, Inc. (R) - Modelo de negócios: segmentos de clientes

Pequenas a grandes empresas comerciais

Ryder serve negócios comerciais em várias escalas com soluções de gerenciamento de frotas.

Tamanho comercial	Contagem de clientes	Contribuição anual da receita
Pequenas empresas	12,500	US $ 385 milhões
Empresas médias	7,800	US $ 624 milhões
Grandes empresas	3,200	US $ 1,2 bilhão

Empresas automotivas e de transporte

Ryder fornece soluções abrangentes de logística e transporte.

• Fabricantes automotivos suportados: 42
• Empresas de transporte atendidas: 1.850
• Receita anual de leasing de frota: US $ 2,3 bilhões

Provedores de logística de varejo e comércio eletrônico

A Ryder suporta requisitos complexos da cadeia de suprimentos para comércio digital e de varejo.

Segmento	Contagem de clientes	Receita de serviços de logística
Negócios de varejo	1,100	US $ 675 milhões
Provedores de comércio eletrônico	850	US $ 520 milhões

Empresas industriais e de fabricação

A Ryder oferece soluções de logística especializadas para setores de fabricação.

• Clientes de fabricação: 2.300
• Receita do setor industrial: US $ 890 milhões
• Contratos de gerenciamento da cadeia de suprimentos: 680

Organizações governamentais e municipais

A Ryder fornece serviços de gerenciamento e logística de frota para entidades do setor público.

Nível do governo	Clientes	Valor anual do contrato
Agências federais	38	US $ 215 milhões
Governos estaduais	47	US $ 180 milhões
Organizações municipais	226	US $ 95 milhões

Ryder System, Inc. (R) - Modelo de negócios: estrutura de custos

Aquisição e manutenção de veículos

A partir de 2023, o Relatório Financeiro, os custos de manutenção e aquisição da Frota da Ryder totalizaram US $ 1,87 bilhão. A empresa opera aproximadamente 70.000 veículos comerciais em toda a sua frota.

Categoria de custo	Despesas anuais
Compras de veículos	US $ 1,2 bilhão
Manutenção da frota	US $ 670 milhões

Investimentos de tecnologia e infraestrutura

A Ryder investiu US $ 124,5 milhões em tecnologia e infraestrutura digital em 2023, com foco em sistemas de gerenciamento de frotas e tecnologias de logística.

• Plataformas de gerenciamento de frotas baseadas em nuvem
• Sistemas telemáticos
• Tecnologias de manutenção preditiva

Despesas de trabalho e pessoal

Os custos totais de pessoal para Ryder em 2023 foram de US $ 1,45 bilhão, cobrindo aproximadamente 40.000 funcionários.

Categoria de pessoal	Custo anual
Salários	US $ 1,1 bilhão
Benefícios	US $ 350 milhões

Custos de combustível e operacional

As despesas de combustível da frota de Ryder atingiram US $ 512 milhões em 2023, representando uma despesa operacional significativa.

• Consumo médio de combustível diesel: 35 milhões de galões anualmente
• Tecnologias de eficiência de combustível implementadas

Despesas de marketing e vendas

Os custos de marketing e vendas para Ryder em 2023 totalizaram US $ 87,3 milhões.

Canal de marketing	Gasto
Marketing digital	US $ 42 milhões
Feiras e eventos	US $ 22,3 milhões
Operações da equipe de vendas	US $ 23 milhões

Ryder System, Inc. (R) - Modelo de negócios: fluxos de receita

Leasing de veículos e taxas de aluguel

Para o ano fiscal de 2023, Ryder relatou US $ 2,75 bilhões na receita do segmento de leasing de veículos. O tamanho da frota consistia em aproximadamente 255.000 veículos nos segmentos comerciais e de aluguel.

Tipo de veículo	Receita anual	Taxa média de arrendamento
Caminhões comerciais	US $ 1,85 bilhão	US $ 7.250 por veículo
Veículos de aluguel	US $ 900 milhões	US $ 4.500 por veículo

Serviços de manutenção e reparo

Receita de manutenção para 2023 alcançada US $ 1,2 bilhão, com cobertura de serviço para mais 175.000 veículos.

• Manutenção preventiva: US $ 450 milhões
• Serviços de reparo: US $ 750 milhões

Contratos de transporte dedicados

Segmento de transporte dedicado gerado US $ 2,1 bilhões em 2023, porção 350 clientes corporativos.

Tipo de contrato	Receita anual	Número de contratos
Contratos de longo prazo	US $ 1,6 bilhão	225 contratos
Contratos de curto prazo	US $ 500 milhões	125 contratos

Soluções de logística e cadeia de suprimentos

Segmento de soluções da cadeia de suprimentos gerado US $ 1,5 bilhão em 2023, gerenciando logística para 250 empresas.

Assinaturas de tecnologia de gerenciamento de frota

Serviços de tecnologia e telemática gerados US $ 180 milhões, com 45.000 clientes de frota usando plataformas digitais.

Serviço de Tecnologia	Receita anual	Contagem de assinantes
Plataforma de telemática	US $ 90 milhões	25.000 assinantes
Software de gerenciamento de frota	US $ 90 milhões	20.000 assinantes

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.