Rush Enterprises (RUSHA)
Market Price (11/11/2026): $44.68 | Market Cap: $5.2 BilSector: Industrials | Industry: Construction Machinery & Heavy Transportation Equipment
Rush Enterprises (RUSHA)
Market Price (11/11/2026): $44.68Market Cap: $5.2 BilSector: IndustrialsIndustry: Construction Machinery & Heavy Transportation Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.5% Low stock price volatilityVol 12M is 32% Megatrend and thematic driversMegatrends include Future of Freight, Electric Vehicles & Autonomous Driving, and E-commerce & Digital Retail. Themes include Autonomous Trucks, Show more. | Weak multi-year price returns2Y Excs Rtn is -15% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.6%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.3% Key risksRUSHA key risks include [1] a disruptive sales cycle of a 'pre-buy surge' and subsequent 'demand cliff' driven by upcoming emissions regulations, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.5% |
| Low stock price volatilityVol 12M is 32% |
| Megatrend and thematic driversMegatrends include Future of Freight, Electric Vehicles & Autonomous Driving, and E-commerce & Digital Retail. Themes include Autonomous Trucks, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -15% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.6%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.3% |
| Key risksRUSHA key risks include [1] a disruptive sales cycle of a 'pre-buy surge' and subsequent 'demand cliff' driven by upcoming emissions regulations, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Oct 28: down 8.3% the day after its Oct 27 earnings report (S&P 500 up 0.3%)
The stock fell following the release of third quarter 2026 results, which reported strong Class 8 deliveries but noted a slowdown in industry-wide order intake. Revenues were $2.1 billion, net income $78.0 million, and diluted earnings per share $0.65.
Down 24.2% from its Aug 4 high to Oct 28, up 7.5% since (S&P 500 up 0.1%)
The stock declined during this period largely without company-specific news. Major declines occurred on September 1 and October 7 without company headlines, and on October 28 following third quarter earnings.
Oct 28: down 8.3% the day after its Oct 27 earnings report (S&P 500 up 0.3%)
The stock fell following the release of third quarter 2026 results, which reported strong Class 8 deliveries but noted a slowdown in industry-wide order intake. Revenues were $2.1 billion, net income $78.0 million, and diluted earnings per share $0.65.
Down 24.2% from its Aug 4 high to Oct 28, up 7.5% since (S&P 500 up 0.1%)
The stock declined during this period largely without company-specific news. Major declines occurred on September 1 and October 7 without company headlines, and on October 28 following third quarter earnings.
Show less
Stock Movement Drivers
Fundamental Drivers
The -15.5% change in RUSHA stock from 7/31/2026 to 11/10/2026 was primarily driven by a -18.5% change in the company's P/E Multiple.| (LTM values as of) | 7312026 | 11102026 | Change |
|---|---|---|---|
| Stock Price ($) | 52.88 | 44.69 | -15.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,268 | 7,469 | 2.8% |
| Net Income Margin (%) | 3.6% | 3.7% | 1.6% |
| P/E Multiple | 23.2 | 18.9 | -18.5% |
| Shares Outstanding (Mil) | 116 | 117 | -0.7% |
| Cumulative Contribution | -15.5% |
Market Drivers
7/31/2026 to 11/10/2026| Return | Correlation | |
|---|---|---|
| RUSHA | -15.5% | |
| Market (SPY) | 0.4% | 33.7% |
| Sector (XLI) | -6.2% | 43.3% |
Fundamental Drivers
The -8.7% change in RUSHA stock from 4/30/2026 to 11/10/2026 was primarily driven by a -12.1% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 11102026 | Change |
|---|---|---|---|
| Stock Price ($) | 48.93 | 44.69 | -8.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,434 | 7,469 | 0.5% |
| Net Income Margin (%) | 3.5% | 3.7% | 4.4% |
| P/E Multiple | 21.5 | 18.9 | -12.1% |
| Shares Outstanding (Mil) | 116 | 117 | -0.9% |
| Cumulative Contribution | -8.7% |
Market Drivers
4/30/2026 to 11/10/2026| Return | Correlation | |
|---|---|---|
| RUSHA | -8.7% | |
| Market (SPY) | 4.6% | 27.2% |
| Sector (XLI) | -3.1% | 39.7% |
Fundamental Drivers
The 37.7% change in RUSHA stock from 10/31/2025 to 11/10/2026 was primarily driven by a 42.1% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 11102026 | Change |
|---|---|---|---|
| Stock Price ($) | 32.45 | 44.69 | 37.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,687 | 7,469 | -2.8% |
| Net Income Margin (%) | 3.7% | 3.7% | -0.7% |
| P/E Multiple | 13.3 | 18.9 | 42.1% |
| Shares Outstanding (Mil) | 117 | 117 | 0.4% |
| Cumulative Contribution | 37.7% |
Market Drivers
10/31/2025 to 11/10/2026| Return | Correlation | |
|---|---|---|
| RUSHA | 37.7% | |
| Market (SPY) | 10.9% | 31.3% |
| Sector (XLI) | 9.8% | 49.4% |
Fundamental Drivers
The 96.8% change in RUSHA stock from 10/31/2023 to 11/10/2026 was primarily driven by a 156.3% change in the company's P/E Multiple.| (LTM values as of) | 10312023 | 11102026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.71 | 44.69 | 96.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,662 | 7,469 | -2.5% |
| Net Income Margin (%) | 4.9% | 3.7% | -24.8% |
| P/E Multiple | 7.4 | 18.9 | 156.3% |
| Shares Outstanding (Mil) | 123 | 117 | 4.8% |
| Cumulative Contribution | 96.8% |
Market Drivers
10/31/2023 to 11/10/2026| Return | Correlation | |
|---|---|---|
| RUSHA | 96.8% | |
| Market (SPY) | 85.5% | 45.9% |
| Sector (XLI) | 78.4% | 58.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| RUSHA Return | 36% | -5% | 47% | 10% | -0% | 26% | 165% |
| Peers Return | 48% | -6% | 51% | 20% | 8% | 7% | 192% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| RUSHA Win Rate | 58% | 33% | 50% | 67% | 50% | 55% | |
| Peers Win Rate | 65% | 50% | 60% | 60% | 58% | 45% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| RUSHA Max Drawdown | -20% | -27% | -19% | -23% | -24% | -24% | |
| Peers Max Drawdown | -22% | -30% | -24% | -17% | -23% | -31% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PAG, LAD, AN, GPI, R.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/10/2026 (YTD)
How Low Can It Go
| Event | RUSHA | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -22.7% | -18.8% |
| % Gain to Breakeven | 29.3% | 23.1% |
| Time to Breakeven | 253 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -17.4% | -9.5% |
| % Gain to Breakeven | 21.0% | 10.5% |
| Time to Breakeven | 49 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -11.4% | -6.7% |
| % Gain to Breakeven | 12.8% | 7.1% |
| Time to Breakeven | 33 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.6% | -24.5% |
| % Gain to Breakeven | 29.2% | 32.4% |
| Time to Breakeven | 128 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -34.6% | -33.7% |
| % Gain to Breakeven | 52.9% | 50.9% |
| Time to Breakeven | 76 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -18.8% | -19.2% |
| % Gain to Breakeven | 23.1% | 23.8% |
| Time to Breakeven | 63 days | 105 days |
In The Past
Rush Enterprises's stock fell -22.7% during the 2025 US Tariff Shock. Such a loss loss requires a 29.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | RUSHA | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -22.7% | -18.8% |
| % Gain to Breakeven | 29.3% | 23.1% |
| Time to Breakeven | 253 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.6% | -24.5% |
| % Gain to Breakeven | 29.2% | 32.4% |
| Time to Breakeven | 128 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -34.6% | -33.7% |
| % Gain to Breakeven | 52.9% | 50.9% |
| Time to Breakeven | 76 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -43.1% | -12.2% |
| % Gain to Breakeven | 75.8% | 13.9% |
| Time to Breakeven | 259 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -59.7% | -6.8% |
| % Gain to Breakeven | 148.4% | 7.3% |
| Time to Breakeven | 439 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -36.5% | -17.9% |
| % Gain to Breakeven | 57.5% | 21.8% |
| Time to Breakeven | 81 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -22.8% | -15.4% |
| % Gain to Breakeven | 29.5% | 18.2% |
| Time to Breakeven | 99 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -69.7% | -53.4% |
| % Gain to Breakeven | 230.3% | 114.4% |
| Time to Breakeven | 742 days | 1085 days |
In The Past
Rush Enterprises's stock fell -22.7% during the 2025 US Tariff Shock. Such a loss loss requires a 29.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Rush Enterprises (RUSHA)
Rush Enterprises (RUSHA) operates as a prominent integrated retailer of commercial vehicles across the United States, primarily through its extensive network of "Rush Truck Centers." The company's core business revolves around selling new and used commercial vehicles from well-known manufacturers such as Peterbilt, International, Hino, Ford, and Isuzu. Beyond vehicle sales, Rush Enterprises provides a full spectrum of aftermarket services, including parts sales, comprehensive vehicle service and repair, and flexible financing, leasing, and rental solutions tailored for commercial transportation needs.
The company further diversifies its offerings to support commercial vehicle owners throughout their lifecycle. This includes providing property and casualty insurance, specialized equipment and parts installation, paint and body repair services, and vehicle modification. Additionally, Rush Enterprises manufactures compressed natural gas (CNG) fuel systems and components, sells commercial vehicle tires, new and used trailers, and vehicle telematics products, positioning itself as a comprehensive solutions provider in the commercial vehicle industry.
Rush Enterprises serves a broad and varied customer base, encompassing large regional and national fleets, corporations, local and state government entities, and individual owner-operators. With its commercial vehicle centers strategically located across numerous states including Alabama, California, Florida, Texas, and Virginia, the company maintains a substantial geographic presence, enabling it to effectively serve diverse markets nationwide.
AI Analysis | Feedback
1. AutoNation for commercial trucks and buses.
2. Like a Caterpillar dealership chain, but for on-road commercial trucks and buses.
AI Analysis | Feedback
- Commercial Vehicle Sales: Sells new and used commercial vehicles from major manufacturers such as Peterbilt, International, Hino, and Ford.
- Aftermarket Parts Sales: Provides a wide selection of parts for commercial vehicles to support maintenance and repairs.
- Vehicle Maintenance & Repair Services: Offers comprehensive service, repair, paint, and body repair for commercial vehicles.
- Vehicle Financing & Leasing: Provides financing, leasing, and rental options for commercial vehicle acquisition.
- Commercial Vehicle Insurance: Offers property and casualty insurance, including collision, liability, cargo, and credit life insurance.
- Vehicle Upfitting & Modification Services: Installs equipment, modifies trucks, performs body and chassis upfitting, and installs natural gas fuel systems.
- Tires & Trailers Sales: Sells tires for commercial vehicles, alongside new and used trailers.
- Vehicle Telematics Products: Offers products and services for vehicle tracking, data management, and operational efficiency.
- Compressed Natural Gas (CNG) Fuel System Manufacturing: Manufactures compressed natural gas fuel systems and related component parts for commercial vehicles.
AI Analysis | Feedback
Rush Enterprises (RUSHA) serves a diverse range of customers. Based on the provided description, its major customers fall into the following categories:
- Commercial Businesses and Fleets: This broad category includes both regional and national fleets, as well as various corporations that rely on commercial vehicles for their operations.
- Local and State Governments: These are governmental entities at local and state levels that purchase and maintain commercial vehicles for public services.
- Owner Operators: Individuals who own and operate their own commercial vehicles, often working as independent contractors.
AI Analysis | Feedback
- PACCAR Inc. (PCAR)
- TRATON SE (XTRA: 8TRA)
- Hino Motors, Ltd. (TYO: 7205)
- Ford Motor Company (F)
- Isuzu Motors Ltd. (TYO: 7202)
- The Blue Bird Corporation (BLBD)
AI Analysis | Feedback
Mr. Rush has served as President of Rush Enterprises since 1995 and Chief Executive Officer since 2006. He was appointed Chairman of the Board in May 2013. He has overseen all day-to-day operations since 2001, when he was named Chief Operating Officer. Mr. Rush served as Vice President and Executive Vice President of the Company from 1990 until November 1995. He is the son of the company's founder, W. Marvin Rush, who started the first dealership in 1965.
Steven L. Keller, Chief Financial Officer and Treasurer
Mr. Keller has been the Chief Financial Officer and Treasurer of Rush Enterprises, Inc. since March 2007. He also serves as its Principal Accounting Officer. Mr. Keller has been intimately involved in Rush Enterprises' finance and accounting functions since 1997, with responsibilities including financial analysis and planning, business acquisitions, SEC reporting, investor relations, and corporate taxes. Prior to joining Rush Enterprises, Mr. Keller, a Certified Public Accountant, worked in the San Antonio office of Ernst & Young LLP. He obtained a Bachelor of Business Administration in Accounting from St. Mary's University in San Antonio, Texas.
Jody Pollard, Chief Operating Officer
Mr. Pollard was appointed Chief Operating Officer of Rush Enterprises, Inc. on March 23, 2026. He previously served as Senior Vice President of Truck Sales and Aftermarket Sales from March 2021 until his promotion to COO. From 2017 to 2021, he held the position of Senior Vice President of Operations. Mr. Pollard joined Rush Enterprises in 1999 and has held various dealership management roles, including Regional General Manager of the North Texas and Oklahoma Region for six years, overseeing more than 19 Rush Enterprises locations. He holds a Bachelor of Science degree in Agricultural Leadership & Development from Texas A&M University.
Martin A. Naegelin, Jr., Executive Vice President
Mr. Naegelin was promoted to Executive Vice President of Rush Enterprises in March 2007. Prior to this, he served as Senior Vice President and Chief Financial Officer, a role he held from December 2001, after joining the company in 1997 as Vice President and Chief Financial Officer. In his current role as Executive Vice President, he focuses on improving the company's organizational processes and systems, including projects like the conversion to SAP Enterprise Resource Planning and SAP Dealer Business Management solutions. His responsibilities also include corporate administrative functions, construction equipment operations, and truck-leasing operations. Before joining Rush Enterprises, Mr. Naegelin served as Vice President of Investor Relations and Corporate Development of Norwood Promotional Products, Inc., and had seven years of public accounting experience prior to 1993. He holds a Bachelor's degree in accounting from the University of Texas at San Antonio.
Corey H. Lowe, Senior Vice President, Peterbilt Dealerships
Mr. Lowe was appointed to the position of Senior Vice President of Peterbilt Dealerships in April 2011, a newly created role at the time. He is responsible for the overall dealership operations of the Company's Peterbilt Division. Mr. Lowe joined Rush Enterprises in 1998 and has spent his entire career within the Rush Truck Centers dealership organization. His previous roles include Regional Manager for the company's North Texas, Oklahoma, and Tennessee dealerships since 2008, Regional General Manager for Rush Truck Centers in Oklahoma from 2006 to 2008, and General Manager of the Oklahoma City dealership from 2003 to 2006. He received his undergraduate degree from Abilene Christian University.
AI Analysis | Feedback
1. Economic Fluctuations and Cyclicality of the Commercial Vehicle Industry
The company's performance is highly sensitive to overall economic conditions and the cyclical demand for commercial vehicles. Economic downturns, reduced freight demand, and elevated interest rates directly impact the sales of new and used commercial vehicles, as well as the demand for aftermarket parts and services. Recent financial reports indicate declines in Class 8 truck sales and overall revenue due to weak demand and economic uncertainty.
2. Governmental Regulation and Trade Policies
Evolving governmental regulations, particularly new engine emissions standards such as the EPA 2027 Low NOx and CARB's HD Omnibus rules, pose a significant risk. These regulations can create uncertainty, causing customers to delay vehicle acquisitions and impacting sales and operations. The industry anticipates a potential "demand cliff" following a "pre-buy surge" as fleets acquire vehicles before new, more expensive, and potentially unproven engine technologies become mandatory. U.S. trade policy and tariffs also contribute to uncertainty, influencing customer demand and market conditions.
3. Technological Advances
Rapid technological advancements in the commercial vehicle industry, including drivetrain electrification and the development of autonomous vehicles, could reduce demand for traditional parts and services offered by Rush Enterprises. While the company is involved in areas like natural gas fuel systems and vehicle telematics, a swift transition to electric or highly autonomous commercial vehicles would require significant adaptation, investment in new infrastructure, and specialized training to remain competitive and relevant.
AI Analysis | Feedback
AI Analysis | Feedback
Rush Enterprises (symbol: RUSHA) operates in several significant addressable markets within the United States, including commercial vehicle sales, aftermarket parts and services, financing, leasing and rental, commercial vehicle insurance, natural gas fuel systems, trailers, and vehicle telematics.
Addressable Markets for Rush Enterprises' Main Products and Services (U.S. Region)
-
Commercial Vehicle Sales (New and Used)
- The U.S. commercial vehicles market size is estimated at USD 223.19 billion in 2025 and is predicted to increase to approximately USD 364.99 billion by 2034. Another estimate values the U.S. commercial vehicle market at USD 581.31 billion in 2022, projected to grow to USD 1,276.0 billion by 2030.
- The U.S. heavy-duty trucks market size is estimated at USD 61.57 billion in 2025 and is projected to be worth around USD 136.68 billion by 2035.
- The U.S. medium-duty truck market size was over USD 57.26 billion in 2025 and is poised to exceed USD 98.74 billion by 2035.
-
Aftermarket Parts and Service & Repair
- The entire U.S. automotive aftermarket industry, encompassing light, medium, and heavy-duty vehicles, is projected at nearly USD 535 billion in 2024 and is expected to be around USD 574 billion in 2026.
-
Financing Services
- The U.S. Commercial Vehicle Financing Market was estimated at USD 139.87 billion in 2024 and is projected to reach USD 208.85 billion by 2035. North America is the largest market, holding approximately 45% of the global market share.
-
Leasing and Rental Services (Trucks and Trailers)
- The U.S. Truck and Trailer Rental and Leasing industry generates over USD 30 billion in annual revenue. Specifically, the U.S. truck rental market was valued at USD 21.5 billion in 2024 and is projected to reach USD 63.12 billion by 2035. The United States Truck Leasing & Rental Market was valued at USD 3.63 billion in 2024 and is expected to reach USD 5.32 billion by 2030.
-
Property and Casualty Insurance (Commercial Vehicles)
- The United States commercial auto insurance marketplace recorded approximately USD 61.6 billion in direct written premiums in 2024. The market size is projected to be USD 80.1 billion in 2025.
-
Natural Gas Fuel Systems (Installation and Component Parts)
- The global automotive natural gas vehicle market was valued at USD 36.06 billion in 2025, with North America holding approximately 18% of this market. The U.S. leads regional demand within North America.
-
Trailers (New and Used)
- The U.S. semi-trailer market generated a revenue of USD 6,388.1 million (approximately USD 6.39 billion) in 2024 and is expected to reach USD 12,525.5 million (approximately USD 12.53 billion) by 2033. The truck trailer manufacturing market in the U.S. was USD 17.6 billion in 2025.
-
Vehicle Telematics Products
- The U.S. commercial telematics market size reached USD 24.0 billion in 2025 and is expected to reach USD 70.3 billion by 2034.
AI Analysis | Feedback
Rush Enterprises (RUSHA) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Aftermarket Parts and Services Growth: The company is continuously investing in its aftermarket parts and service operations, which consistently contribute a significant portion of its gross profit. Strategic initiatives include expanding the aftermarket sales force, optimizing parts delivery, and focusing on technician recruitment and retention. This segment is expected to see gradual improvement and remain a key performance driver.
- Expansion of Dealership Network: Rush Enterprises is actively pursuing a multi-faceted expansion strategy, primarily through strategic acquisitions of commercial vehicle dealerships. Recent examples include agreements to acquire Peterbilt dealerships in Southern Louisiana and Mississippi, building on previous expansions like Peterbilt locations in Nebraska and a Ford commercial vehicle franchise in Illinois. This growth aims to increase physical presence and market penetration.
- Growth in Leasing and Rental Business: The company's leasing and rental services are a stable and growing source of recurring revenue. Strong leasing demand is anticipated to continue as customers look to replace aging equipment and prepare for upcoming emissions regulations.
- Anticipation of 2027 Emissions Regulations: The looming 2027 EPA emissions regulations for heavy-duty trucks are projected to trigger a significant "pre-buy" cycle throughout 2026. Fleets are expected to accelerate purchases of current, potentially less expensive and proven diesel platforms to avoid the costs and uncertainties associated with new engine technologies mandated by the regulations. This is identified as a major catalyst for new truck sales.
- Recovery in New and Used Truck Demand: Despite recent challenging market conditions for new truck sales, management expects a gradual improvement through 2026. This recovery is anticipated to be driven by improving freight conditions, increased miles driven, and more optimistic customer sentiment. Additionally, elevated fleet ages are expected to stimulate replacement demand for both new and used commercial vehicles.
AI Analysis | Feedback
Share Repurchases
- Rush Enterprises authorized a new stock repurchase program for up to $150 million on December 3, 2025, set to expire on December 31, 2026.
- The company repurchased $193.5 million of its common stock during 2025. As of December 2, 2025, $199.9 million had been repurchased under the prior program which was terminated.
- In 2023, Rush Enterprises repurchased $211.7 million of its common stock.
Share Issuance
- The number of outstanding shares has declined over the past few years, with 0.080 billion shares outstanding as of March 31, 2026, representing a 3.05% decrease year-over-year.
- Shares outstanding for 2025 were 0.081 billion, a 1.33% decline from 2024.
Inbound Investments
- In 2022, Cummins Inc. acquired a 50% equity interest in Momentum Fuel Technologies, resulting in a $12.5 million pre-tax gain for Rush Enterprises.
Outbound Investments
- In 2022, Rush Enterprises acquired an additional 30% interest in Rush Truck Centres of Canada Limited, leading to a $9.8 million gain.
- During the third quarter of 2025, the company made an acquisition of an IC Bus franchise in Canada.
Capital Expenditures
- Capital expenditures totaled $433.0 million during 2024, primarily for purchases of property and equipment, improvements to dealership facilities, and $368.5 million for commercial vehicles for rental and leasing operations.
- Capital expenditures (purchases of property, plant, and equipment) decreased by 25.1% to $96.6 million in the fourth quarter of 2025.
- Non-maintenance capital expenditures were $29.617 million in Q1 2024 and $26.609 million in 2023. The company expects operating costs for its leasing and rental fleet to moderate in 2024 due to new vehicle production increasing and reducing the fleet's age.
Peer Outperformance in Construction Machinery & Heavy Transportation Equipment
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 28 | -15.0% | 99.1% | 112.8% | FIX 1049% · STRL 915% · AGX 632% |
| Marine Transportation | 5 | 27.7% | 30.8% | 110.4% | MATX 143% · KEX 114% |
| Construction Machinery & Heavy Transportation Equipment ← | 14 | 12.9% | 68.3% | 100.2% | ALSN 273% · WAB 224% · CAT 207% |
| Aerospace & Defense | 54 | 3.3% | 60.2% | 63.1% | ATI 959% · FTAI 919% · HWM 588% |
| Industrial Machinery & Supplies & Components | 71 | 4.2% | 53.3% | 34.7% | CRS 852% · MLI 303% · SYM 276% |
| Rail Transportation | 7 | 37.1% | 73.5% | 29.3% | CSX 54% · UNP 39% · NSC 29% |
| Trading Companies & Distributors | 19 | 11.1% | 36.8% | 27.9% | DXPE 340% · URI 203% · AIT 200% |
| Diversified Support Services | 34 | 14.3% | 46.9% | 21.6% | CXW 198% · OPLN 139% · CACI 128% |
| Building Products | 34 | -3.6% | 10.7% | 19.0% | MOD 792% · GFF 352% · TT 137% |
| Cargo Ground Transportation | 16 | 35.3% | 17.4% | 6.7% | XPO 306% · R 270% · ARCB 29% |
| Office Services & Supplies | 10 | 18.3% | 24.5% | 0.0% | PBI 151% · HNI 45% · MSA 21% |
| Industrial Conglomerates | 17 | 17.6% | 11.1% | -3.7% | CSW 105% · DD 80% · CSL 78% |
| Electrical Components & Equipment | 39 | -5.6% | 61.1% | -5.6% | POWL 1500% · VRT 632% · BE 461% |
| Data Processing & Outsourced Services | 6 | -7.1% | 3.2% | -11.9% | EXLS 65% · BR 18% · G -7% |
| Research & Consulting Services | 13 | 0.4% | -13.7% | -23.7% | HURN 216% · FCN 38% · BAH 9% |
| Agricultural & Farm Machinery | 16 | 13.3% | -2.4% | -25.1% | DE 108% · TTC 15% · AGCO 7% |
| Environmental & Facilities Services | 29 | -19.1% | 30.5% | -26.3% | GEO 249% · CLH 169% · RSG 96% |
| Passenger Airlines | 11 | 11.7% | 83.0% | -27.8% | LTM 3364% · UAL 133% · DAL 119% |
| Security & Alarm Services | 9 | -44.1% | 42.7% | -29.7% | BCO 89% |
| Air Freight & Logistics | 12 | -30.0% | -5.6% | -39.4% | FDX 77% · EXPD 60% · CHRW 56% |
| Human Resource & Employment Services | 22 | 24.1% | -13.6% | -39.8% | ADP 49% · FA 17% · PAYX 11% |
| Passenger Ground Transportation | 3 | -25.6% | 35.8% | -48.6% | UBER 61% · CAR -49% · LYFT -69% |
| Airport Services | 4 | -39.0% | -57.3% | -82.7% | JOBY -36% |
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 238.95 |
| Mkt Cap | 6.4 |
| Rev LTM | 24,595 |
| Op Inc LTM | 1,143 |
| FCF LTM | 143 |
| FCF 3Y Avg | 178 |
| CFO LTM | 421 |
| CFO 3Y Avg | 541 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -1.8% |
| Rev Chg 3Y Avg | 3.2% |
| Rev Chg Q | 3.7% |
| QoQ Delta Rev Chg LTM | 0.9% |
| Op Inc Chg LTM | -10.5% |
| Op Inc Chg 3Y Avg | -5.7% |
| Op Mgn LTM | 4.1% |
| Op Mgn 3Y Avg | 4.5% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 2.3% |
| CFO/Rev 3Y Avg | 2.7% |
| FCF/Rev LTM | 0.9% |
| FCF/Rev 3Y Avg | 1.0% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Truck Segment | 7,419 | 7,789 | 7,909 | 7,085 | 5,109 |
| All Other | 15 | 16 | 16 | 17 | 17 |
| Total | 7,434 | 7,805 | 7,925 | 7,102 | 5,126 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Truck Segment | 394 | 468 | 512 | 505 | 307 |
| All Other | -0 | -0 | 0 | 1 | 2 |
| Total | 394 | 468 | 512 | 506 | 309 |
| $ Mil | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Truck Segment | 267 | 306 | 348 | 392 |
| All Other | -1 | -1 | -0 | 0 |
| Total | 266 | 305 | 348 | 392 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Truck Segment | 4,373 | 4,562 | 4,308 | 3,769 | 3,068 |
| All Other | 58 | 56 | 56 | 52 | 52 |
| Total | 4,431 | 4,618 | 4,364 | 3,821 | 3,120 |
Price Behavior
| Market Price | $44.69 | |
| Market Cap ($ Bil) | 5.2 | |
| First Trading Date | 10/07/2003 | |
| Distance from 52W High | -18.5% | |
| 50 Days | 200 Days | |
| DMA Price | $46.37 | $47.25 |
| DMA Trend | down | up |
| Distance from DMA | -3.6% | -5.4% |
| 3M | 1YR | |
| Volatility | 33.0% | 31.6% |
| Downside Capture | 97.21 | 60.84 |
| Upside Capture | 17.06 | 91.62 |
| Correlation (S&P 500) | 31.3% | 32.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.39 | 0.60 | 0.83 | 0.58 | 0.73 | 0.97 |
| Up Beta | 2.26 | 0.32 | 1.21 | 0.75 | 1.02 | 1.03 |
| Down Beta | 0.52 | 0.54 | 0.73 | 0.39 | 0.51 | 0.83 |
| Up Capture | -32% | 5% | 20% | 37% | 76% | 102% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 11 | 19 | 27 | 63 | 136 | 380 |
| Down Capture | 65% | 135% | 144% | 84% | 68% | 100% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 11 | 24 | 37 | 63 | 115 | 370 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RUSHA | |
|---|---|---|---|---|
| RUSHA | 39.6% | 31.6% | 1.07 | - |
| Sector ETF (XLI) | 11.0% | 18.2% | 0.42 | 49.6% |
| Equity (SPY) | 12.7% | 13.7% | 0.62 | 32.1% |
| Gold (GLD) | 0.3% | 28.9% | 0.00 | 15.2% |
| Commodities (DBC) | 34.5% | 21.3% | 1.28 | -26.9% |
| Real Estate (VNQ) | 11.7% | 14.2% | 0.53 | 38.2% |
| Bitcoin (BTCUSD) | -27.7% | 43.5% | -0.63 | 1.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RUSHA | |
|---|---|---|---|---|
| RUSHA | 15.3% | 30.9% | 0.49 | - |
| Sector ETF (XLI) | 11.5% | 17.8% | 0.48 | 61.2% |
| Equity (SPY) | 11.6% | 17.3% | 0.50 | 49.2% |
| Gold (GLD) | 17.2% | 19.1% | 0.72 | 4.8% |
| Commodities (DBC) | 7.4% | 19.6% | 0.26 | 3.3% |
| Real Estate (VNQ) | 1.4% | 18.9% | -0.04 | 46.8% |
| Bitcoin (BTCUSD) | 3.4% | 51.5% | 0.25 | 17.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RUSHA | |
|---|---|---|---|---|
| RUSHA | 20.5% | 33.0% | 0.64 | - |
| Sector ETF (XLI) | 13.3% | 20.1% | 0.58 | 62.5% |
| Equity (SPY) | 15.2% | 18.0% | 0.71 | 52.4% |
| Gold (GLD) | 11.7% | 16.6% | 0.58 | 1.9% |
| Commodities (DBC) | 7.5% | 18.1% | 0.33 | 16.9% |
| Real Estate (VNQ) | 5.9% | 20.7% | 0.24 | 45.9% |
| Bitcoin (BTCUSD) | 59.5% | 66.3% | 0.99 | 14.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 7/17/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/29/2025 | -0.3% | -6.7% | 5.0% |
| 7/30/2025 | 1.9% | 4.9% | 9.4% |
| 4/30/2025 | -0.6% | -6.3% | -2.3% |
| 2/18/2025 | 1.3% | -7.0% | -10.6% |
| 10/30/2024 | -3.0% | 10.7% | 6.5% |
| 7/31/2024 | 7.5% | -2.0% | 3.9% |
| 4/24/2024 | -2.2% | -7.8% | -5.4% |
| 2/14/2024 | 2.4% | -2.9% | 5.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 11 | 13 |
| # Negative | 11 | 11 | 9 |
| Median Positive | 3.6% | 2.6% | 6.5% |
| Median Negative | -2.4% | -6.3% | -2.7% |
| Max Positive | 8.6% | 10.7% | 19.2% |
| Max Negative | -9.2% | -7.8% | -10.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/29/2025 | -0.3% | -6.7% | 5.0% |
| 7/30/2025 | 1.9% | 4.9% | 9.4% |
| 4/30/2025 | -0.6% | -6.3% | -2.3% |
| 2/18/2025 | 1.3% | -7.0% | -10.6% |
| 10/30/2024 | -3.0% | 10.7% | 6.5% |
| 7/31/2024 | 7.5% | -2.0% | 3.9% |
| 4/24/2024 | -2.2% | -7.8% | -5.4% |
| 2/14/2024 | 2.4% | -2.9% | 5.0% |
| 10/24/2023 | -9.2% | -7.7% | 0.8% |
| 7/25/2023 | 2.5% | 2.6% | -0.7% |
| 4/25/2023 | -2.7% | -1.8% | -1.5% |
| 2/15/2023 | 6.4% | -0.8% | -10.1% |
| 10/25/2022 | -2.4% | 1.2% | 5.5% |
| 7/26/2022 | -6.0% | -4.6% | -1.0% |
| 4/26/2022 | 5.9% | 10.3% | 5.8% |
| 2/17/2022 | -0.1% | 1.7% | 6.5% |
| 10/20/2021 | 5.3% | 8.2% | 15.9% |
| 7/20/2021 | 3.3% | 2.1% | -3.5% |
| 4/21/2021 | -2.7% | 1.6% | -2.7% |
| 2/10/2021 | -1.0% | -6.3% | 19.2% |
| 10/21/2020 | 3.6% | 1.6% | 6.8% |
| 7/22/2020 | 8.6% | 8.9% | 10.9% |
| SUMMARY STATS | |||
| # Positive | 11 | 11 | 13 |
| # Negative | 11 | 11 | 9 |
| Median Positive | 3.6% | 2.6% | 6.5% |
| Median Negative | -2.4% | -6.3% | -2.7% |
| Max Positive | 8.6% | 10.7% | 19.2% |
| Max Negative | -9.2% | -7.8% | -10.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 11/06/2026 | 10-Q |
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/24/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 11/06/2026 | 10-Q |
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/24/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 02/24/2022 | 10-K |
| 09/30/2021 | 11/05/2021 | 10-Q |
| 06/30/2021 | 08/06/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 02/24/2021 | 10-K |
| 09/30/2020 | 11/06/2020 | 10-Q |
| 06/30/2020 | 08/07/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 02/26/2020 | 10-K |
Recent Forward Guidance
Updated 11/6/2026Latest: Q3 2026 Earnings Reported 10/27/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Dividends per share | Reported | 0.14 | 0.0% | Same New | Guidance: 0.14 for Q3 2026 | |||
| 2026 U.S. Retail Sales of New Class 8 Trucks (ACT Research Forecast) | Reported | 0.23 Mil | 0.3% | Raised | Guidance: 0.23 Mil for 2026 | |||
| 2026 U.S. Retail Sales Growth of New Class 8 Trucks (ACT Research Forecast) | Reported | 7.8% | 0.2% | Raised | Guidance: 7.6% for 2026 | |||
| 2026 U.S. Retail Sales for New Class 4-7 Commercial Vehicles (ACT Research Forecast) | Reported | 0.22 Mil | 5.3% | Raised | Guidance: 0.21 Mil for 2026 | |||
| 2026 U.S. Retail Sales Growth for New Class 4-7 Commercial Vehicles (ACT Research Forecast) | Reported | 0.5% | 5.0% | Raised | Guidance: -4.5% for 2026 | |||
Prior: Q1 2026 Earnings Reported 4/28/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Dividends Per Share | Reported | 0.19 | 0.0% | Same New | Guidance: 0.19 for Q1 2026 | |||
Q4 2025 Earnings Reported 2/17/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Dividends Per Share | Reported | 0.19 | ||||||
| 2026 Share Repurchase Authorization | Reported | 150.00 Mil | ||||||
Rush Enterprises — Investor Video Playlist
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Construction Machinery & Heavy Transportation Equipment Resources |
| Equipment World |
| Construction Equipment |
| OEM Off-Highway |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.