At a glance
Rush Enterprises A Inc is worth $3.25B, about 13 times its fiscal 2025 earnings. Revenue fell 4.7% to $7.43B in fiscal 2025, with 3.5% kept as profit; over 5 years it has grown 9.4% a year. It pays a 1.7% dividend yield, raised every year for at least 4 years, and returned $799.8M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned −15.5% over the past year with dividends reinvested and +6.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 36.1% in the 2020 crash (S&P 500: 33.7%) and 26.2% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 5 months after the lows.
The business in plain English
Rush Enterprises, based in New Braunfels, Texas, runs commercial truck dealerships called Rush Truck Centers. Its 2025 annual report lists 126 franchised centers in 23 states. It also owns 80% of a Canadian business with 12 International and 2 IC Bus dealerships in Ontario. The dealerships sell new and used trucks and buses from Peterbilt, International, Hino, Ford, Isuzu, Blue Bird and other makers to businesses that operate commercial vehicles.
Parts, service and collision repair bring in about $2.52 billion, or 33.9% of fiscal 2025 revenue. Rush calls this work aftermarket products and services. It produced 63.7% of gross profit, which is sales minus the direct cost of the goods sold. The company says this work rises and falls less with the economy than truck sales do. The rest of revenue comes from vehicle sales, leasing and related services. Most of the $7.43 billion total came from Peterbilt trucks and parts from PACCAR, which owns Peterbilt.
Rush also leases and rents vehicles, from medium-duty Class 4 trucks up to heavy-duty Class 8 trucks. It does this at 55 Rush Truck Leasing locations in 21 states and 5 in Ontario, and nearly all long-term leases include maintenance. Rush also arranges financing from outside lenders and sells insurance as an agent. It owns half of a joint venture with Cummins that makes natural gas fuel systems. Rush reports one business segment. Texas is its largest market, with 178 of its 469 franchises.
Price history
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RUSHA -15.5% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $1.90B, down 1.6% from a year earlier, and net income was $72.8M (+0.4%).
- For fiscal 2025, revenue was $7.43B (-4.7% year over year; +9.4% a year from FY2020 to FY2025) with a 3.5% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +9.4% good |
|---|---|
| Operating margin | 5.3% watch |
| Free cash flow margin | 6.2% watch |
| Return on equity (FY2025) | 12% watch |
| Return on assets (FY2025) | 6% watch |
| Net cash (cash minus debt) | $-17.8M watch |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $4.74B | $114.9M | $626.8M |
| FY2021 | $5.13B | $241.4M | $255.2M |
| FY2022 | $7.10B | $391.4M | $51.3M |
| FY2023 | $7.93B | $347.1M | $-73.2M |
| FY2024 | $7.80B | $304.2M | $186.5M |
| FY2025 | $7.43B | $263.8M | $462.0M |
Valuation snapshot
| Market value | $3.25B |
|---|---|
| P/E ratio | 12.8 |
| Dividend yield | 1.7% |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| RUSHA price data to Oct 28, 2026 | -22.1% | -15.5% | +7.1% | +6.0% | +16.8% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -22.1% |
| 2025 | -0.2% |
| 2024 | +10.4% |
| 2023 | +48.1% |
| 2022 | -2.6% |
| 2021 | +39.1% |
| 2020 | +41.4% |
| 2019 | +43.3% |
| 2018 | -30.1% |
| 2017 | +59.3% |
| 2016 | +45.7% |
| 2015 | -31.7% |
| 2014 | +8.1% |
| 2013 | +43.4% |
| 2012 | -1.2% |
| 2011 | +2.4% |
| 2010 | +71.9% |
| 2009 | +38.7% |
| 2008 | -52.9% |
| 2007 | +61.2% |
| 2006 | +13.7% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 65.8% over that stretch · deepest drop along the way 70.1%, back to its old high 24.4 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 31.4% over that stretch · deepest drop along the way 36.1%, back to its old high 2.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 16.3% over that stretch · deepest drop along the way 26.2%, back to its old high 4.7 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (23 read): 0 open-market purchases and 12 sales ($12.0M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 3, 2026 | William M Rusty Rush CEO, President and COB, Director, 10% owner | sell | $5.8M |
| Jul 31, 2026 | Steven L Keller CFO & Treasurer | sell | $1.7M |
| Feb 19, 2026 | Jody Pollard Senior Vice President | sell | $809K |
| Mar 10, 2026 | Raymond Joseph Chess Director | sell | $651K |
| Jul 31, 2026 | William M Rusty Rush CEO, President and COB, Director, 10% owner | sell | $580K |
Who owns it
Large shareholders (13G filings)
| FMR LLC | 12.6% | Jun 30, 2026 |
| BlackRock, Inc. | 7.3% | Sep 30, 2026 |
| Vanguard Portfolio Management | 5.91% | Mar 31, 2026 |
| Dimensional Fund Advisors LP | 5.4% | Jun 30, 2026 |
| Wellington Management Group LLP | 4% | Mar 31, 2026 |
ETFs with the most weight in RUSHA
| JSML Janus Henderson Small Cap Growth Alpha ETF | 2.26% |
| TXSS Texas Capital Texas Small Cap Equity Index ETF | 2.12% |
| ROSC Hartford Multifactor Small Cap ETF | 0.97% |
| QSML WisdomTree U.S. SmallCap Quality Growth Fund | 0.65% |
| JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF | 0.48% |
| FLQS Franklin U.S. Small Cap Multifactor Index ETF | 0.48% |
| FFSM Fidelity Fundamental Small-Mid Cap ETF | 0.41% |
| USVM VictoryShares US Small Mid Cap Value Momentum ETF | 0.36% |
What could go wrong
- Heavy reliance on Peterbilt and PACCAR. Most of Rush's revenue comes from Peterbilt trucks and PACCAR parts, and PACCAR also helps finance its Peterbilt inventory. Weaker Peterbilt products, supply problems or a lost dealer agreement could hurt sales and profits.
- Second big supplier: International Motors. A significant share of revenue comes from International trucks, IC buses and their parts, all made by International Motors. Rush has no control over that company's products, pricing, supply or brand reputation.
- Ownership changes could end Peterbilt contracts. Peterbilt can end its agreements if top managers' share of director votes falls below 22%. They held about 40.8% at December 31, 2025. A sale of CEO Rusty Rush's Class B shares could trigger this.
- Interest rates and inventory financing costs. Rush borrows to carry its truck inventory, using floor plan loans (credit lines that pay for vehicles on the lot). Higher interest rates raise that cost and cut profit. Keeping enough stock may require more financing.
- Tariffs on imported trucks and parts. Some vehicles and parts Rush sells are made outside the US. Tariffs on commercial vehicles and parts could reduce demand for some of the vehicles and parts it sells.
- Electric trucks and engine emissions rules. Over the long term, electric or other alternative-fuel trucks could hurt Rush's business, the company warns. It also depends on manufacturers to supply engines that meet federal and state emissions rules.
Recent events
- Quarterly results released; Investor presentation or announcement
- Major agreement signed
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Executive or board change; Investor presentation or announcement; Other company announcement
- Major agreement signed
- Shareholder vote results
- Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
For income and retirement investors
Rush Enterprises pays a small but rising dividend. Dividends per share were $0.74 in fiscal 2025, up from $0.70, its fourth increase in a row. The payout is low. Dividends used 22.1% of fiscal 2025 earnings and 12.6% of free cash flow (the cash left after running the business and investing in it). The yield was 1.7% as of October 28, 2026, so the stock may suit dividend-growth investors more than those who need high income. Rush has spent more on buybacks than on dividends: $549.7 million on buybacks from fiscal 2021 to 2025, against $250.0 million on dividends.
The shares have fallen hard in downturns. They dropped 70.1% in the 2008 financial crisis and took about 24 months to recover from the low. They fell 36.1% in the 2020 COVID crash and 26.2% in the 2022 bear market, and recovered within months both times. As of October 28, 2026, the stock was down 22.1% for 2026. A single stock like this carries more risk than a diversified fund.
Questions investors ask
How does Rush Enterprises make money?
Rush Enterprises sells and services commercial trucks and buses through its Rush Truck Centers dealerships. It sells new and used vehicles from brands such as Peterbilt and International. It also earns steadier income from parts, service and collision repair. That aftermarket work brought in 33.9% of fiscal 2025 revenue but 63.7% of gross profit. Rush also leases and rents trucks, arranges financing from outside lenders and sells insurance as an agent. Total fiscal 2025 revenue was $7.43 billion.
Does Rush Enterprises raise its dividend every year?
Rush has raised its dividend four years in a row through fiscal 2025. That is a short streak compared with companies known for long records of dividend growth. It paid $0.74 per share in fiscal 2025, up from $0.70. The payout is modest, using 22.1% of fiscal 2025 earnings and 12.6% of free cash flow. The yield was 1.7% as of October 28, 2026. From fiscal 2021 to 2025, Rush spent $549.7 million on buybacks and $250.0 million on dividends.
How dependent is Rush Enterprises on Peterbilt?
Very dependent. In fiscal 2025, most of Rush's revenue came from Peterbilt trucks and parts from PACCAR, which owns Peterbilt. Rush also pays for its Peterbilt inventory through a floor plan agreement (a loan that funds vehicles in stock) tied to PACCAR. Peterbilt can end its dealer agreements if Rush's top managers' share of director votes falls below 22%. They held about 40.8% at December 31, 2025. International Motors, maker of International trucks and IC buses, is a second major supplier.
What is Rush Enterprises' P/E ratio?
About 12.8, based on the share price as of October 28, 2026, and fiscal 2025 earnings of $3.27 per share. The P/E ratio (price divided by earnings per share) shows what investors pay for each dollar of yearly profit. Market value was about $3.2 billion on that date. Net income has fallen every year since its peak of $391.4 million in fiscal 2022, down to $263.8 million in fiscal 2025. In the quarter ended June 30, 2026, revenue fell 1.6% from a year earlier and net income rose 0.4%.
Have Rush Enterprises insiders been selling stock?
Yes. From October 29, 2025, to October 29, 2026, insiders reported 12 sales worth about $12.0 million and no purchases. The largest was a $5.8 million sale on August 3, 2026, by Chairman and CEO W.M. “Rusty” Rush. CFO Steven Keller sold about $1.7 million on July 31, 2026. None of the sales were marked as part of a trading plan set up in advance. Insiders sell for many reasons, such as taxes or spreading out their wealth, so sales alone say little about the outlook.