Rush Enterprises, Inc. (RUSHA) 10-Year Financial Performance & Capital Metrics

RUSHA • • Industrial / General

Consumer CyclicalAuto DealershipsSpecialty Vehicle RetailersCommercial Truck Dealers

AboutRush Enterprises, Inc., through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, or Blue Bird. The company also provides new and used commercial vehicles, and aftermarket parts, as well as service and repair, financing, and leasing and rental services; and offers property and casualty insurance, including collision and liability insurance on commercial vehicles, cargo insurance, and credit life insurance to its commercial vehicle customers. In addition, it provides equipment installation and repair, parts installation, and paint and body repair services; new vehicle pre-delivery inspection, truck modification, and natural gas fuel system installation services; body, chassis upfitting, and component installation services, as well as sells tires for use on commercial vehicles, new and used trailers, and vehicle telematics products; and manufactures compressed natural gas fuel systems and related component parts for commercial vehicles. The company serves regional and national fleets, corporations, local and state governments, and owner operators. It operates a network of centers located in the states of Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Missouri, Nevada, Nebraska, New Mexico, North Carolina, Ohio, Oklahoma, Pennsylvania, Tennessee, Texas, Utah, and Virginia. Rush Enterprises, Inc. was incorporated in 1965 and is headquartered in New Braunfels, Texas.Show more

Revenue $7.8B -1.5%
EBITDA $704M -4.0%
Net Income $304M -12.4%
EPS (Diluted) 3.72 -10.4%
Gross Margin 19.62% -2.4%
EBITDA Margin 9.02% -2.5%
Operating Margin 6% -7.2%
Net Margin 3.9% -11.0%
ROE 15.01% -21.0%
ROIC 9.77% -17.2%
Debt/Equity 0.80 -16.2%
Interest Coverage 6.50 -31.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 16.5%
✓High quality earnings: Operating CF exceeds net income
✓Good 3Y average ROE of 19.4%
✓Share count reduced 2.3% through buybacks
✓Efficient asset utilization: 1.7x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.14%

5Y6.08%

3Y15.04%

TTM-1.95%

Profit (Net Income) CAGR

10Y14.29%

5Y16.52%

3Y8%

TTM-10.81%

EPS CAGR

10Y11.09%

5Y8.02%

3Y-3.73%

TTM-10.61%

ROCE

10Y Avg12.82%

5Y Avg16.47%

3Y Avg19.72%

Latest16.55%

Peer Comparison

Commercial Truck Dealers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RUSHARush Enterprises, Inc.	3.73B	61.47	16.52	-1.52%	3.57%	12.26%	5%	0.80

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	4.98B	4.21B	4.71B	5.51B	5.81B	4.74B	5.13B	7.1B	7.93B	7.8B
Revenue Growth %	0.05%	-0.15%	0.12%	0.17%	0.06%	-0.18%	0.08%	0.39%	0.12%	-0.02%
Cost of Goods Sold+	4.19B	3.5B	3.88B	4.53B	4.78B	3.86B	4.03B	5.61B	6.33B	6.27B
COGS % of Revenue	0.84%	0.83%	0.82%	0.82%	0.82%	0.82%	0.79%	0.79%	0.8%	0.8%
Gross Profit+	784.95M	718.01M	829.94M	978.27M	1.03B	875.47M	1.09B	1.49B	1.59B	1.53B
Gross Margin %	0.16%	0.17%	0.18%	0.18%	0.18%	0.18%	0.21%	0.21%	0.2%	0.2%
Gross Profit Growth %	0.04%	-0.09%	0.16%	0.18%	0.05%	-0.15%	0.25%	0.36%	0.07%	-0.04%
Operating Expenses+	663.13M	639.04M	681.12M	775.72M	809.12M	720.86M	784.69M	983.5M	1.08B	1.06B
OpEx % of Revenue	0.13%	0.15%	0.14%	0.14%	0.14%	0.15%	0.15%	0.14%	0.14%	0.14%
Selling, General & Admin	619.27M	587.78M	631.05M	705.23M	753.75M	665.26M	731.34M	927.84M	1.02B	995.59M
SG&A % of Revenue	0.12%	0.14%	0.13%	0.13%	0.13%	0.14%	0.14%	0.13%	0.13%	0.13%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	70.49M	55.37M	55.6M	53.35M	55.66M	58.99M	67.74M
Operating Income+	121.28M	80.73M	148.71M	202.85M	216.41M	154.6M	309.04M	506.11M	512.38M	468.09M
Operating Margin %	0.02%	0.02%	0.03%	0.04%	0.04%	0.03%	0.06%	0.07%	0.06%	0.06%
Operating Income Growth %	-0.14%	-0.33%	0.84%	0.36%	0.07%	-0.29%	1%	0.64%	0.01%	-0.09%
EBITDA+	266.21M	238.35M	306.66M	387.97M	391.89M	331.95M	478.53M	705.26M	733.52M	704.19M
EBITDA Margin %	0.05%	0.06%	0.07%	0.07%	0.07%	0.07%	0.09%	0.1%	0.09%	0.09%
EBITDA Growth %	-0.01%	-0.1%	0.29%	0.27%	0.01%	-0.15%	0.44%	0.47%	0.04%	-0.04%
D&A (Non-Cash Add-back)	144.94M	157.63M	157.95M	185.12M	175.48M	177.35M	169.5M	199.15M	221.14M	236.1M
EBIT	121.82M	87.22M	148.81M	204.23M	216.51M	161.45M	307.6M	503.66M	515.75M	469.84M
Net Interest Income+	-13.47M	-14.28M	-12.31M	-19.68M	-28.81M	-9.01M	-1.77M	-19.12M	-52.92M	-70.86M
Interest Income	490K	621K	891K	1.38M	1.68M	713K	657K	639K	777K	1.17M
Interest Expense	13.96M	14.9M	13.2M	21.06M	30.49M	9.73M	2.43M	19.76M	53.69M	72.02M
Other Income/Expense	-13.47M	-14.28M	-12.31M	-19.68M	-26.88M	-2.88M	4.65M	3.21M	-50.32M	-70.28M
Pretax Income+	107.8M	66.45M	136.4M	183.17M	189.52M	151.72M	313.68M	509.33M	462.06M	397.81M
Pretax Margin %	0.02%	0.02%	0.03%	0.03%	0.03%	0.03%	0.06%	0.07%	0.06%	0.05%
Income Tax+	41.75M	25.87M	-35.73M	44.11M	47.94M	36.84M	72.27M	117.24M	114M	92.84M
Effective Tax Rate %	0.61%	0.61%	1.26%	0.76%	0.75%	0.76%	0.77%	0.77%	0.75%	0.76%
Net Income+	66.05M	40.58M	172.13M	139.06M	141.58M	114.89M	241.41M	391.38M	347.06M	304.15M
Net Margin %	0.01%	0.01%	0.04%	0.03%	0.02%	0.02%	0.05%	0.06%	0.04%	0.04%
Net Income Growth %	-0.17%	-0.39%	3.24%	-0.19%	0.02%	-0.19%	1.1%	0.62%	-0.11%	-0.12%
Net Income (Continuing)	66.05M	40.58M	172.13M	139.06M	141.58M	114.89M	241.41M	392.08M	348.06M	304.97M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	18.53M	19.54M	20.35M
EPS (Diluted)+	1.07	0.67	2.77	2.30	2.53	2.00	4.17	4.57	4.15	3.72
EPS Growth %	-0.18%	-0.37%	3.13%	-0.17%	0.1%	-0.21%	1.08%	0.1%	-0.09%	-0.1%
EPS (Basic)	0.73	0.69	1.93	2.30	2.59	1.40	2.88	4.71	4.28	3.85
Diluted Shares Outstanding	61.67M	60.45M	62.04M	60.44M	56.05M	57.46M	57.91M	85.73M	83.72M	81.82M
Basic Shares Outstanding	60.7M	59.22M	59.77M	60.44M	54.67M	55.41M	55.96M	83.1M	81.09M	79.06M
Dividend Payout Ratio	-	-	-	0.07%	0.13%	0.2%	0.17%	0.11%	0.15%	0.18%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.33B	1.11B	1.38B	1.69B	1.71B	1.36B	1.32B	1.87B	2.26B	2.39B
Cash & Short-Term Investments	64.85M	82.03M	124.54M	131.73M	181.62M	312.05M	148.15M	201.04M	183.72M	228.13M
Cash Only	64.85M	82.03M	124.54M	131.73M	181.62M	312.05M	148.15M	201.04M	183.72M	228.13M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	167.59M	166.37M	171.12M	203.53M	183.7M	172.48M	114.18M	190.88M	259.35M	354.88M
Days Sales Outstanding	12.28	14.41	13.25	13.49	11.54	13.29	8.13	9.81	11.94	16.6
Inventory	1.06B	840.3M	1.03B	1.34B	1.33B	858.29M	1.02B	1.43B	1.8B	1.79B
Days Inventory Outstanding	92.34	87.72	97.11	108.01	101.17	81.15	92.31	92.93	103.84	104.02
Other Current Assets	0	13.96M	34.17M	2.27M	21.15M	14.91M	26M	29.78M	15.78M	18.96M
Total Non-Current Assets+	1.53B	1.49B	1.52B	1.51B	1.69B	1.63B	1.8B	1.95B	2.1B	2.23B
Property, Plant & Equipment	1.17B	1.14B	1.16B	1.18B	1.34B	1.26B	1.35B	1.47B	1.61B	1.73B
Fixed Asset Turnover	4.25x	3.71x	4.07x	4.65x	4.35x	3.75x	3.80x	4.83x	4.93x	4.52x
Goodwill	285.04M	290.19M	291.39M	291.39M	292.14M	292.14M	370.33M	416.36M	420.71M	427.49M
Intangible Assets	60.91M	59.37M	57.68M	37.96M	15.9M	14M	14.1M	12.3M	12.3M	12M
Long-Term Investments	6.65M	6.23M	6.38M	-179.27M	34.9M	41.2M	0	0	8.4M	4.7M
Other Non-Current Assets	-188.99M	-197.33M	-135.31M	37.96M	14.71M	16.03M	63.88M	53.38M	54.28M	56.6M
Total Assets+	2.85B	2.6B	2.89B	3.2B	3.41B	2.99B	3.12B	3.82B	4.36B	4.62B
Asset Turnover	1.75x	1.62x	1.63x	1.72x	1.71x	1.59x	1.64x	1.86x	1.82x	1.69x
Asset Growth %	0.06%	-0.09%	0.11%	0.11%	0.06%	-0.12%	0.05%	0.22%	0.14%	0.06%
Total Current Liabilities+	1.25B	993.13M	1.17B	1.49B	1.51B	1.03B	1B	1.43B	1.67B	1.65B
Accounts Payable	120.25M	97.84M	107.91M	127.45M	133.7M	110.73M	122.29M	171.72M	162.13M	244.02M
Days Payables Outstanding	10.46	10.21	10.14	10.27	10.2	10.47	11.07	11.16	9.35	14.2
Short-Term Debt	1.02B	792.11M	940.82M	1.2B	1.22B	690.03M	630.73M	933.2M	1.19B	1.08B
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	0	0	0	0	0	1000K
Other Current Liabilities	-24.78M	-11.27M	-29.04M	-34.46M	155.09M	226.04M	84.86M	121.54M	311.1M	160.81M
Current Ratio	1.06x	1.12x	1.17x	1.13x	1.14x	1.32x	1.32x	1.31x	1.35x	1.45x
Quick Ratio	0.21x	0.27x	0.29x	0.23x	0.26x	0.49x	0.30x	0.31x	0.27x	0.36x
Cash Conversion Cycle	94.16	91.91	100.21	111.23	102.51	83.97	89.37	91.57	106.44	106.41
Total Non-Current Liabilities+	760.07M	747.09M	677.56M	641.13M	740.45M	690.56M	649.72M	629.37M	800.51M	805.52M
Long-Term Debt	496.73M	472.5M	466.39M	439.22M	438.41M	387.98M	334.93M	275.43M	414M	408.44M
Capital Lease Obligations	69.07M	70.04M	66.02M	49.48M	117.03M	141.9M	147.81M	182.51M	202.13M	190.11M
Deferred Tax Liabilities	188.99M	197.33M	135.31M	141.31M	164.3M	126.44M	0	0	159.57M	178.92M
Other Non-Current Liabilities	5.28M	7.21M	9.84M	11.12M	20.7M	34.25M	166.99M	171.43M	24.81M	28.06M
Total Liabilities	2.01B	1.74B	1.85B	2.13B	2.25B	1.72B	1.65B	2.06B	2.47B	2.46B
Total Debt+	1.59B	1.35B	1.47B	1.69B	1.77B	1.22B	1.15B	1.44B	1.81B	1.73B
Net Debt	1.52B	1.27B	1.35B	1.56B	1.59B	907.86M	1B	1.23B	1.63B	1.51B
Debt / Equity	1.88x	1.56x	1.42x	1.59x	1.53x	0.96x	0.79x	0.81x	0.96x	0.80x
Debt / EBITDA	5.96x	5.66x	4.80x	4.36x	4.53x	3.67x	2.41x	2.04x	2.47x	2.46x
Net Debt / EBITDA	5.72x	5.32x	4.40x	4.02x	4.06x	2.73x	2.10x	1.75x	2.22x	2.14x
Interest Coverage	8.69x	5.42x	11.26x	9.63x	7.10x	15.89x	127.33x	25.61x	9.54x	6.50x
Total Equity+	844.9M	862.83M	1.04B	1.07B	1.16B	1.27B	1.47B	1.76B	1.89B	2.16B
Equity Growth %	0.11%	0.02%	0.21%	0.03%	0.09%	0.09%	0.16%	0.2%	0.07%	0.14%
Book Value per Share	13.70	14.27	16.77	17.65	20.69	22.07	25.33	20.57	22.58	26.42
Total Shareholders' Equity	844.9M	862.83M	1.04B	1.07B	1.16B	1.27B	1.47B	1.74B	1.87B	2.14B
Common Stock	430K	438K	454K	458K	465K	551K	563K	572K	806K	824K
Retained Earnings	599.85M	640.43M	812.56M	942.29M	1.07B	831.85M	1.03B	1.38B	1.45B	1.7B
Treasury Stock	-43.37M	-86.88M	-120.68M	-245.84M	-304.13M	-2.88M	-36.93M	-130.93M	-119.83M	-136.24M
Accumulated OCI	-305K	-286K	-514.93M	-576.35M	337K	869K	787K	-4.13M	-2.16M	-9.29M
Minority Interest	0	0	0	0	0	0	0	18.53M	19.54M	20.35M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	227.25M	521.17M	152.74M	215.36M	421.27M	762.98M	422.35M	294.4M	295.71M	619.55M
Operating CF Margin %	0.05%	0.12%	0.03%	0.04%	0.07%	0.16%	0.08%	0.04%	0.04%	0.08%
Operating CF Growth %	1.56%	1.29%	-0.71%	0.41%	0.96%	0.81%	-0.45%	-0.3%	0%	1.1%
Net Income	66.05M	40.58M	172.13M	139.06M	141.58M	114.89M	241.41M	392.08M	347.06M	304.97M
Depreciation & Amortization	144.94M	157.63M	157.95M	185.12M	175.48M	177.35M	169.5M	199.15M	221.14M	236.1M
Stock-Based Compensation	12.38M	12.88M	15.61M	18.06M	19M	19.36M	22.25M	25.32M	30.35M	30.35M
Deferred Taxes	31.64M	8.33M	-62.2M	6M	22.99M	-37.86M	14.03M	4.26M	7.6M	19.81M
Other Non-Cash Items	881K	6.79M	105K	-297K	1.48M	-6.67M	-7.04M	-26.98M	163K	-809K
Working Capital Changes	-28.65M	294.97M	-130.85M	-132.58M	60.73M	495.92M	-17.8M	-299.43M	-310.6M	29.13M
Change in Receivables	11.92M	1.67M	-29.42M	-7.75M	19.83M	11.22M	32.31M	-74.61M	0	-87.1M
Change in Inventory	18.66M	291.77M	-147.45M	-255.04M	81.72M	536.68M	-33.57M	-324.51M	0	85.07M
Change in Payables	-4.15M	-22.41M	8.96M	18.49M	2.24M	-23.34M	12.05M	31.44M	-10.63M	81.86M
Cash from Investing+	-436.23M	-189.41M	-206.56M	-227.24M	-320.46M	-127.46M	-432.9M	-240.93M	-387.03M	-445.58M
Capital Expenditures	-367.79M	-196.97M	-209.92M	-238.26M	-293.49M	-136.2M	-167.18M	-243.06M	-368.88M	-433.05M
CapEx % of Revenue	0.07%	0.05%	0.04%	0.04%	0.05%	0.03%	0.03%	0.03%	0.05%	0.06%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-3.02M	-4.71M	1.24M	-1.68M	5.7M	8.74M	3.6M	-4.61M	-2.1M	3.83M
Cash from Financing+	82.37M	-314.58M	96.34M	19.06M	-50.92M	-505.1M	-153.34M	-690K	73.96M	-129.32M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	-9.33M	-18.32M	-22.46M	-41.06M	-44.56M	-50.58M	-55.51M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-337K	7.97M	22.8M	0	-731K	21.04M	10.87M	4.59M	18.08M	15.26M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-140.54M	324.2M	-57.18M	-22.9M	127.78M	626.78M	255.17M	51.34M	-73.17M	186.5M
FCF Margin %	-0.03%	0.08%	-0.01%	-0%	0.02%	0.13%	0.05%	0.01%	-0.01%	0.02%
FCF Growth %	0.18%	3.31%	-1.18%	0.6%	6.58%	3.91%	-0.59%	-0.8%	-2.43%	3.55%
FCF per Share	-2.28	5.36	-0.92	-0.38	2.28	10.91	4.41	0.60	-0.87	2.28
FCF Conversion (FCF/Net Income)	3.44x	12.84x	0.89x	1.55x	2.98x	6.64x	1.75x	0.75x	0.85x	2.04x
Interest Paid	35.36M	0	34.15M	42.75M	57.37M	38.81M	22.22M	21.69M	56.43M	78.29M
Taxes Paid	16.13M	0	31.32M	28.67M	42.44M	36.36M	101.99M	102.04M	106.87M	76.03M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.21%	4.75%	18.09%	13.2%	12.72%	9.47%	17.66%	24.24%	19%	15.01%
Return on Invested Capital (ROIC)	4.12%	2.69%	4.94%	6.06%	6.03%	4.71%	9.98%	13.88%	11.8%	9.77%
Gross Margin	15.76%	17.04%	17.61%	17.77%	17.65%	18.49%	21.31%	20.94%	20.1%	19.62%
Net Margin	1.33%	0.96%	3.65%	2.53%	2.44%	2.43%	4.71%	5.51%	4.38%	3.9%
Debt / Equity	1.88x	1.56x	1.42x	1.59x	1.53x	0.96x	0.79x	0.81x	0.96x	0.80x
Interest Coverage	8.69x	5.42x	11.26x	9.63x	7.10x	15.89x	127.33x	25.61x	9.54x	6.50x
FCF Conversion	3.44x	12.84x	0.89x	1.55x	2.98x	6.64x	1.75x	0.75x	0.85x	2.04x
Revenue Growth	5.34%	-15.36%	11.85%	16.81%	5.51%	-18.48%	8.24%	38.54%	11.59%	-1.52%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Commercial Vehicle	-	-	-	3.56B	3.76B	2.86B	3.04B	4.35B	4.96B	4.89B
Commercial Vehicle Growth	-	-	-	-	5.59%	-23.80%	6.17%	43.14%	13.94%	-1.39%
Parts	-	-	-	937.24M	993.29M	911.1M	1.06B	1.44B	1.49B	1.44B
Parts Growth	-	-	-	-	5.98%	-8.27%	16.27%	35.64%	3.96%	-3.58%
Commercial Vehicle Repair Service	-	-	-	732.81M	769.22M	689.34M	733.98M	935.46M	1.07B	1.08B
Commercial Vehicle Repair Service Growth	-	-	-	-	4.97%	-10.38%	6.48%	27.45%	14.19%	0.69%
Product and Service, Other	-	-	-	18.73M	17.76M	14.01M	17.63M	25.86M	26.86M	22.97M
Product and Service, Other Growth	-	-	-	-	-5.16%	-21.10%	25.79%	46.72%	3.87%	-14.48%
Insurance	-	-	-	9.74M	9.82M	9.9M	11.58M	12.75M	12.61M	13.05M
Insurance Growth	-	-	-	-	0.87%	0.78%	16.94%	10.10%	-1.12%	3.51%
Financial Service	-	-	-	10.79M	14.62M	12.05M	16.39M	16.99M	11.66M	8.94M
Financial Service Growth	-	-	-	-	35.41%	-17.59%	36.01%	3.70%	-31.35%	-23.34%
Truck	4.96B	4.2B	4.7B	-	-	-	-	-	-	-
Truck Growth	-	-15.41%	11.88%	-	-	-	-	-	-	-
Others	15.09M	15.27M	15.85M	-	-	-	-	-	-	-
Others Growth	-	1.16%	3.81%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Rush Enterprises, Inc. (RUSHA) has a price-to-earnings (P/E) ratio of 16.5x. This is roughly in line with market averages.

Growth & Financials

Rush Enterprises, Inc. (RUSHA) reported $7.67B in revenue for fiscal year 2024. This represents a 197% increase from $2.58B in 2011.

Rush Enterprises, Inc. (RUSHA) saw revenue decline by 1.5% over the past year.

Yes, Rush Enterprises, Inc. (RUSHA) is profitable, generating $274.2M in net income for fiscal year 2024 (3.9% net margin).

Dividend & Returns

Yes, Rush Enterprises, Inc. (RUSHA) pays a dividend with a yield of 1.10%. This makes it attractive for income-focused investors.

Rush Enterprises, Inc. (RUSHA) has a return on equity (ROE) of 15.0%. This is reasonable for most industries.

Rush Enterprises, Inc. (RUSHA) generated $693.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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