Start here if you're new
what it is
Rush runs 100 commercial vehicle dealerships and repair shops across 22 states.
how it gets paid
Last year Rush Enterprises made $7.1B in revenue. Parts and service was the main engine at $2.4B, or 34% of sales.
why growth slowed
Revenue fell 5.2% last year. Combined sales of new and used commercial vehicles declined more than 2%.
what just happened
Rush beat estimates with $0.81 EPS versus $0.69 expected.
At a glance
B+ balance sheet — decent shape, but not bulletproof
60/100 earnings predictability — reasonably predictable
17.7x trailing p/e — the market's not buying it — or you found a deal
1.6% dividend yield — cash in your pocket every quarter
12.5% return on capital — nothing to write home about
xvary composite: 66/100 — average
What they do
Rush runs 100 commercial vehicle dealerships and repair shops across 22 states.
Rush has 100 locations in 22 states. You can buy a truck elsewhere, but you still need parts, repair, and downtime fixes. franchised → licensed by the maker → so what: Rush sells Peterbilt, Hino, Ford, Isuzu, Mitsubishi Fuso, IC Bus, and Blue Bird without building trucks. That turns one sale into repeat visits. The company also has 7,938 employees and a $1.513B backlog, so your business does not live and die on one weak quarter.
How they make money
$7.1B
annual revenue · their business grew -5.2% last year
Parts and service
$2.4B
+4.0%
New commercial vehicles
$2.1B
8.0%
Used commercial vehicles
$1.1B
flat
Leasing and rental
$1.0B
+6.0%
Finance and insurance
$0.5B
+2.0%
The products that matter
new and used heavy-duty vehicle sales
Commercial truck sales
$7.1B company revenue
The big revenue engine is still truck demand. Management said weaker orders from over-the-road customers dragged on recent results. If fleets stop buying, you feel it quickly.
cycle exposed
parts, repair, and after-sale support
Service work
no segment figure shown here
This is the stabilizer in the model. Trucks still need maintenance even when buyers delay replacements. The catch is that this page does not give you the exact split, so stay honest about what you know.
stickier demand
national footprint and inventory access
Dealer network scale
North America scale
The network is the real asset. Fleets want reach, parts, and uptime support. That helps Rush compete. It does not free the company from the freight cycle.
the moat
Key numbers
17.7x
trailing p/e
You are paying 17.7 times trailing earnings for a business with a 10.0% operating margin. That is not cheap, and it is not software.
$1.513B
backlog
That is about 21% of annual revenue. It is a queue of orders already sitting there.
10.0%
operating margin
For every $100 in revenue, Rush keeps $10 after operating costs. That is the difference between a dealer chain and a commodity mess.
1.6%
dividend yield
You get 1.6% in cash while you wait. That is income, not adrenaline.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 70 / 100
- long-term debt $263M (6% of capital)
- net profit margin 4.3% — keeps 4 cents of every dollar in revenue
- return on equity 13% — $0.13 profit for every $1 investors have put in
B+ — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in RUSHA 3 years ago → it's now worth $17,030.
The index would have given you $14,770.
source: institutional data · total return
What just happened
beat estimates
Rush beat estimates with $0.81 EPS versus $0.69 expected.
Revenue was $1.88B in the VL quarter note, and results were held back by weaker Class 8 truck demand. The beat came from profit control, not a booming top line.
$1.9B
revenue
$0.81
eps
20.7%
gross margin
the number that mattered
The $0.81 EPS print mattered most because it beat the $0.69 consensus while revenue stayed soft.
-
rush enterprises reported weak third-quarter results.
-
the top line declined slightly vs. prior year, to $1.88 billion, reflecting weaker demand for new class 8 trucks from over-the-road customers.
-
the bottom line followed suit, retreating to $0.83 per share from $0.97 in the prior-year period.
-
overall, results were shaped by uneven end-market conditions.
-
combined sales of new and used commercial vehicles declined more than 2%, as customers continued to defer large capital purchases in a challenging freight environment.
source: company earnings report, 2026
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What could go wrong
Rush does not need a disaster to disappoint you. It needs one bad freight patch, one margin slip, or one more round of deferred truck orders.
high
freight demand stays weak
Management already said over-the-road customers delayed large Class 8 purchases. If that keeps happening, the $8B revenue estimate looks too generous.
Why it matters: this is a cyclical dealer. When fleets wait, revenue and earnings both feel it.
high
thin margins get thinner
Net margin was 3.8%. Quarterly margin was 3.7%. If that slips toward 3.5%, EPS can fall a lot faster than sales.
Why it matters: low-margin models do not absorb mistakes well. The difference between fine and frustrating is a few tenths of a point.
med
the recovery estimate proves early
FY2026 EPS is estimated at $3.85, above the $3.15 posted for full-year 2025. That rebound needs actual demand, not hope.
Why it matters: if earnings do not recover, a 17.7x trailing multiple does not suddenly become cheap.
med
institutional sentiment keeps drifting lower
Institutions were net sellers for two consecutive quarters, with 136 buyers versus 154 sellers in 3Q2025.
Why it matters: the selling is modest, but it tells you big holders are not rushing to call the bottom yet.
What would change our mind: revenue tracking toward $8B and net margin staying above 3.8%. What breaks the recovery case: another EPS miss below $3.15 or margin drifting toward 3.5%.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
next earnings report
Late April is the next real checkpoint. You want to see whether quarterly EPS builds from $0.83 instead of drifting sideways.
metric
net margin holding above 3.8%
This is the cleanest quality check on the story. If margin improves, the dealer model starts working harder for you.
trend
class 8 order demand
Management already flagged softer over-the-road demand. You are looking for that pressure to ease, not deepen.
risk
institutional selling streak
Two straight quarters of net selling is not panic. It is still a signal. If the streak extends, sentiment is telling you something.
Analyst rankings
short-term outlook
top 20%
momentum score 2 — in human-speak, analysts think the stock has better near-term upside than most names they track.
risk profile
average
stability score 3 — typical risk profile. Not especially defensive, not chaotic either.
chart momentum
average
technical score 3 — the chart is not giving you a loud signal. The next move needs better fundamentals.
earnings predictability
60 / 100
Earnings are reasonably readable, but the cycle still creates surprises. You should expect revisions when truck demand shifts.
source: institutional data
Institutional activity
institutions have been net selling for 2 consecutive quarters — 136 buyers vs. 154 sellers in 3q2025. total institutional holdings: 63.4M shares. net selling for 2 quarters.
source: institutional data
Price targets
3-5 year target range
$42
$83
$56
current price
$63
target midpoint · +13% from current · 3-5yr high: $80 (+45% · 10% ann'l return)
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