Rush Enterprises Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Rush Enterprises Inc. reported revenue of $7.4B (-4.7% year on year) and net income of $266.0M (-12.8% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Revenue | $7.1B | $7.4B | $7.6B | $6.8B |
| Lease and rental sales | $369.6M | $354.9M | $353.8M | $322.3M |
| Total revenue | $7.4B | $7.8B | $7.9B | $7.1B |
| Costs of products sold | $5.7B | $6.0B | $6.1B | $5.4B |
| Lease and rental sales | $266.7M | $255.5M | $247.9M | $221.8M |
| Total cost of products sold | $6.0B | $6.3B | $6.3B | $5.6B |
| Gross profit | $1.5B | $1.5B | $1.6B | $1.5B |
| Selling, general and administrative expense | $996.2M | $995.6M | $1.0B | $927.8M |
| Depreciation and amortization | $71.1M | $68.5M | $59.8M | $55.7M |
| Gain on sale of assets | $412.0K | $809.0K | $843.0K | $2.5M |
| Operating income | $393.8M | $468.1M | $512.4M | $506.1M |
| Other income (loss) | ($1.7M) | $583.0K | $2.6M | $22.3M |
| Interest income | $1.9M | $1.2M | $777.0K | $639.0K |
| Interest expense | ($48.2M) | ($72.0M) | ($53.7M) | ($19.8M) |
| Total interest expense, net | ($46.2M) | ($70.9M) | ($52.9M) | ($19.1M) |
| Income before taxes | $345.9M | $397.8M | $462.1M | $509.3M |
| Income tax provision | $79.8M | $92.8M | $114.0M | $117.2M |
| Net income | $266.0M | $305.0M | $348.1M | $392.1M |
| Less: Net income attributable to noncontrolling interest | $2.3M | $817.0K | $1.0M | $703.0K |
| Net income attributable to Rush Enterprises, Inc. | $263.8M | $304.2M | $347.1M | $391.4M |
| Basic (in dollars per share) | $3.37 | $3.85 | $4.28 | $7.06 |
| Diluted (in dollars per share) | $3.27 | $3.72 | $4.15 | $6.85 |
| Dividends declared per common share (in dollars per share) | $0.74 | $0.70 | $0.62 | $0.80 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Revenue | $1.8B | $1.6B | $1.8B | $1.8B |
| Lease and rental sales | $94.8M | $92.3M | $93.3M | $93.1M |
| Total revenue | $1.9B | $1.7B | $1.9B | $1.9B |
| Costs of products sold | $1.5B | $1.3B | $1.4B | $1.5B |
| Lease and rental sales | $67.8M | $66.7M | $67.5M | $66.4M |
| Total cost of products sold | $1.5B | $1.3B | $1.5B | $1.6B |
| Gross profit | $361.7M | $343.8M | $374.8M | $379.7M |
| Selling, general and administrative expense | $245.5M | $242.6M | $256.4M | $252.0M |
| Depreciation and amortization | $19.1M | $18.7M | $18.2M | $17.6M |
| Gain (loss) on sale of assets | $59.0K | ($245.0K) | ($164.0K) | $127.0K |
| Operating income | $97.2M | $82.2M | $100.0M | $110.2M |
| Other income (loss), net | ($526.0K) | ($464.0K) | ($438.0K) | ($372.0K) |
| Interest expense | $4.4M | $6.4M | $11.7M | $12.7M |
| Income before taxes | $92.3M | $75.4M | $87.9M | $97.1M |
| Income tax provision | $19.3M | $13.7M | $20.1M | $24.1M |
| Net income | $73.0M | $61.7M | $67.7M | $73.0M |
| Less: Net income attributable to noncontrolling interest | $259.0K | $226.0K | $1.0M | $551.0K |
| Net income attributable to Rush Enterprises, Inc. | $72.8M | $61.5M | $66.7M | $72.4M |
| Basic (in dollars per share) | $0.93 | $0.79 | $0.85 | $0.93 |
| Diluted (in dollars per share) | $0.91 | $0.77 | $0.83 | $0.90 |
| Basic (in shares) | 78.0M | 77.4M | 78.2M | 78.3M |
| Diluted (in shares) | 80.2M | 79.9M | 80.6M | 80.5M |
| Dividends declared per common share (in dollars per share) | $0.19 | $0.19 | $0.19 | $0.18 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash, cash equivalents and restricted cash | $212.6M | $228.1M | $183.7M | $201.0M |
| Accounts receivable, net | $277.8M | $345.3M | $259.4M | $220.7M |
| Notes receivable from affiliate | $11.6M | $9.5M | — | — |
| Inventories, net | $1.5B | $1.8B | $1.8B | $1.4B |
| Prepaid expenses and other | $54.7M | $19.0M | $15.8M | $16.6M |
| Total current assets | $2.1B | $2.4B | $2.3B | $1.9B |
| Property and equipment, net | $1.7B | $1.6B | $1.5B | $1.4B |
| Operating lease right-of-use assets, net | $124.1M | $111.4M | $120.2M | $102.7M |
| Goodwill, net | $441.6M | $427.5M | $420.7M | $416.4M |
| Other assets, net | $78.9M | $73.3M | $75.0M | $65.7M |
| Total assets | $4.4B | $4.6B | $4.4B | $3.8B |
| Floor plan notes payable | $918.0M | $1.1B | $1.1B | $933.2M |
| Current maturities of long-term debt | $127.0K | — | — | — |
| Current maturities of finance lease obligations | $34.5M | $38.5M | $36.1M | $29.2M |
| Current maturities of operating lease obligations | $19.3M | $15.9M | $17.4M | $15.0M |
| Trade accounts payable | $230.8M | $244.0M | $162.1M | $171.7M |
| Customer deposits | $112.1M | $109.8M | $145.3M | $116.2M |
| Accrued expenses | $177.3M | $160.8M | $172.5M | $163.3M |
| Total current liabilities | $1.5B | $1.7B | $1.7B | $1.4B |
| Long-term debt, net of current maturities | $274.8M | $408.4M | $414.0M | $275.4M |
| Finance lease obligations, net of current maturities | $88.1M | $92.2M | $97.6M | $93.5M |
| Operating lease obligations, net of current maturities | $107.7M | $97.9M | $104.5M | $89.0M |
| Other long-term liabilities | $34.2M | $28.1M | $24.8M | $19.5M |
| Deferred income taxes, net | $207.7M | $178.9M | $159.6M | $152.0M |
| Preferred stock, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2024 and 2023 | $0.00 | $0.00 | $0.00 | $0.00 |
| Common stock, par value $.01 per share; 105,000,000 Class A shares and 35,000,000 Class B shares authorized; 60,115,093 Class A shares and 16,437,909 Class B shares outstanding in 2025; and 62,604,986 Class A shares and 16,662,633 Class B shares outstanding in 2024 | $835000.00 | $824000.00 | $806000.00 | $572000.00 |
| Additional paid-in capital | $634.3M | $587.6M | $542.0M | $500.6M |
| Treasury Stock, Common, Shares (in shares) | 6.9M | 3.2M | 2.8M | — |
| Treasury stock, at cost: 4,586,791 Class A shares and 2,352,163 Class B shares in 2025; and 1,387,013 Class A shares and 1,783,806 Class B shares in 2024 | -331.1M | -136.2M | -119.8M | — |
| Retained earnings | $1.9B | $1.7B | $1.5B | $1.4B |
| Accumulated other comprehensive (loss) | ($4.8M) | ($9.3M) | ($2.2M) | ($4.1M) |
| Total Rush Enterprises, Inc. shareholders’ equity | $2.2B | $2.1B | $1.9B | $1.7B |
| Noncontrolling interest | $22.6M | $20.4M | $19.5M | $18.5M |
| Total shareholders’ equity | $2.2B | $2.2B | $1.9B | $1.8B |
| Total liabilities and shareholders’ equity | $4.4B | $4.6B | $4.4B | $3.8B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash, cash equivalents and restricted cash | $264.9M | $239.7M | $242.0M | $211.1M |
| Accounts receivable, net | $304.7M | $271.4M | $268.2M | $310.5M |
| Note receivable, affiliate | $8.0M | $8.6M | $6.7M | $3.9M |
| Inventories, net | $1.7B | $1.6B | $1.7B | $1.8B |
| Prepaid expenses and other | $28.0M | $45.4M | $38.1M | $27.9M |
| Total current assets | $2.3B | $2.2B | $2.2B | $2.4B |
| Property and equipment, net | $1.7B | $1.7B | $1.7B | $1.7B |
| Operating lease right-of-use assets, net | $125.2M | $119.8M | $123.8M | $126.3M |
| Goodwill, net | $469.0M | $440.8M | $440.8M | $442.0M |
| Other assets, net | $81.9M | $77.6M | $77.6M | $76.8M |
| Total assets | $4.7B | $4.5B | $4.6B | $4.7B |
| Floor plan notes payable | $961.1M | $919.2M | $1.0B | $1.1B |
| Current maturities of long-term debt | $1.7M | $125.0K | $125.0K | $128.0K |
| Current maturities of finance lease obligations | $29.2M | $32.0M | $36.1M | $36.3M |
| Current maturities of operating lease obligations | $21.0M | $19.9M | $18.4M | $18.5M |
| Trade accounts payable | $299.1M | $320.1M | $280.6M | $297.4M |
| Customer deposits | $108.1M | $86.5M | $102.1M | $107.7M |
| Accrued expenses | $159.3M | $134.8M | $178.1M | $169.5M |
| Total current liabilities | $1.6B | $1.5B | $1.6B | $1.7B |
| Long-term debt, net of current maturities | $281.0M | $277.6M | $263.0M | $412.8M |
| Finance lease obligations, net of current maturities | $84.0M | $84.1M | $89.6M | $87.0M |
| Operating lease obligations, net of current maturities | $107.1M | $102.8M | $108.1M | $110.3M |
| Other long-term liabilities | $40.0M | $35.4M | $34.6M | $32.4M |
| Deferred income taxes, net | $213.4M | $212.0M | $198.4M | $179.8M |
| Preferred stock, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2026 and 2025 | $0.00 | $0.00 | $0.00 | $0.00 |
| Common stock, par value $.01 per share; 105,000,000 Class A shares and 35,000,000 Class B shares authorized; 60,855,308 Class A shares and 16,715,210 Class B shares outstanding in 2026; and 60,115,093 Class A shares and 16,437,909 Class B shares outstanding in 2025 | $847000.00 | $845000.00 | $834000.00 | $831000.00 |
| Additional paid-in capital | $667.4M | $655.2M | $628.1M | $607.8M |
| Treasury Stock, Common, Shares (in shares) | 7.0M | 6.9M | 5.6M | 5.4M |
| Treasury stock, at cost: 4,586,791 Class A shares and 2,352,163 Class B shares in 2026; and 4,586,791 Class A shares and 2,352,163 Class B shares in 2025 | -336.5M | -331.1M | -262.5M | -253.3M |
| Retained earnings | $2.0B | $2.0B | $1.9B | $1.8B |
| Accumulated other comprehensive (loss) | ($8.9M) | ($6.8M) | ($6.5M) | ($4.3M) |
| Total Rush Enterprises, Inc. shareholders’ equity | $2.3B | $2.3B | $2.2B | $2.2B |
| Noncontrolling interest | $23.1M | $22.8M | $22.2M | $21.2M |
| Total shareholders’ equity | $2.4B | $2.3B | $2.2B | $2.2B |
| Total liabilities and shareholders’ equity | $4.7B | $4.5B | $4.6B | $4.7B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $266.0M | $305.0M | $348.1M | $392.1M |
| Depreciation and amortization | $252.8M | $236.1M | $221.1M | $199.1M |
| Gain on sale of property and equipment, net | ($412.0K) | ($809.0K) | ($843.0K) | ($2.5M) |
| Stock-based compensation expense related to stock options and employee stock purchases | $31.7M | $30.4M | $30.4M | $25.3M |
| Provision for deferred income tax expense | $28.8M | $19.8M | $7.6M | $4.3M |
| Change in accounts receivable, net | $73.2M | ($87.1M) | ($38.3M) | ($74.6M) |
| Change in inventories, net | $354.9M | $85.1M | ($297.7M) | ($324.5M) |
| Change in prepaid expenses and other, net | ($34.8M) | ($3.3M) | $862.0K | $1.3M |
| Change in trade accounts payable | ($13.7M) | $81.9M | ($10.6M) | $31.4M |
| Draws (payments) in floor plan notes payable – trade, net | ($112.6M) | — | — | — |
| Change in customer deposits | $1.8M | ($34.8M) | $28.8M | $34.1M |
| Change in accrued expenses | $15.8M | ($12.2M) | $7.2M | $32.8M |
| Other, net | ($1.7M) | ($441.0K) | ($850.0K) | ($5.1M) |
| Net cash provided by operating activities | $861.8M | $619.5M | $295.7M | $294.4M |
| Acquisition of property and equipment | ($399.8M) | ($433.0M) | ($368.9M) | ($243.1M) |
| Proceeds from the sale of property and equipment | $7.9M | $9.4M | $2.2M | $7.1M |
| Change in notes receivable from affiliate | ($2.0M) | ($9.5M) | — | — |
| Business acquisition, net of cash | ($24.3M) | ($16.4M) | ($16.1M) | ($20.8M) |
| Other | $1.2M | $3.9M | ($4.3M) | ($11.7M) |
| Net cash used in investing activities | ($417.1M) | ($445.6M) | ($387.0M) | ($240.9M) |
| Draws (payments) on floor plan notes payable – non-trade, net | ($69.0M) | ($54.3M) | $205.5M | $273.9M |
| Proceeds from long-term debt | $1.1B | $1.8B | $1.4B | $958.3M |
| Principal payments on long-term debt | ($1.3B) | ($1.8B) | ($1.3B) | ($1.1B) |
| Principal payments on finance lease obligations | ($17.8M) | ($16.8M) | ($17.7M) | ($14.8M) |
| Proceeds from issuance of shares relating to employee stock options and employee stock purchases | 16.3M | 25.4M | 18.1M | 13.3M |
| Taxes paid related to net share settlement of equity awards | ($1.4M) | ($10.1M) | ($7.0M) | ($8.7M) |
| Payments of cash dividends | ($58.3M) | ($55.5M) | ($50.6M) | ($44.6M) |
| Common stock repurchased | ($194.9M) | ($15.7M) | ($211.8M) | ($93.7M) |
| Net cash provided (used in) by financing activities | ($460.4M) | ($129.3M) | $74.0M | ($690.0K) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | ($15.6M) | $44.7M | ($17.4M) | $52.8M |
| Effect of exchange rate on cash | $141.0K | ($246.0K) | $36.0K | $118.0K |
| Cash, cash equivalents and restricted cash, beginning of period | $228.1M | $183.7M | $201.0M | — |
| Cash, cash equivalents and restricted cash, end of period | $212.6M | — | — | — |
| Interest | $53.9M | $78.3M | $56.4M | $21.7M |
| Income taxes paid, net | $77.5M | $76.0M | $106.9M | $102.0M |
| Assets acquired under finance leases | $31.1M | $31.4M | $43.3M | $33.7M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $134.7M | $61.7M | $201.3M | $133.6M |
| Depreciation and amortization | $129.8M | $64.6M | $188.4M | $124.5M |
| Gain on sale of property and equipment | $186.0K | $245.0K | ($131.0K) | ($295.0K) |
| Stock-based compensation expense related to employee stock options and employee stock purchases | $21.3M | $14.5M | $26.8M | $22.0M |
| Provision for deferred income tax expense | $6.4M | $4.3M | $19.3M | $552.0K |
| Change in accounts receivable, net | ($22.6M) | $6.2M | $82.6M | $40.7M |
| Change in inventories, net | ($90.4M) | ($85.5M) | $206.5M | $10.2M |
| Change in prepaid expenses and other, net | $27.1M | $9.2M | ($18.3M) | ($8.1M) |
| Change in trade accounts payable | $66.6M | $89.5M | $36.3M | $52.9M |
| Draws (payments) on floor plan financing – trade, net | ($57.0M) | ($36.2M) | — | — |
| Change in customer deposits | ($3.7M) | ($25.6M) | ($8.0M) | ($2.6M) |
| Change in accrued expenses | ($19.4M) | ($42.3M) | $15.4M | $8.6M |
| Other, net | $712.0K | ($302.0K) | ($1.3M) | ($927.0K) |
| Net cash provided by (used in) operating activities | $193.7M | $60.4M | $748.9M | $381.2M |
| Acquisition of property and equipment | ($148.3M) | ($66.0M) | ($318.8M) | ($222.3M) |
| Proceeds from the sale of property and equipment | $660.0K | $453.0K | $7.4M | $7.2M |
| Change in notes receivable from affiliate | $3.5M | $3.0M | $2.8M | $5.7M |
| Business acquisition, net of cash acquired | ($51.8M) | — | ($24.3M) | ($24.1M) |
| Other | $1.5M | $1.9M | $2.7M | $1.3M |
| Net cash used in investing activities | ($194.4M) | ($60.6M) | ($330.2M) | ($232.2M) |
| Draws on floor plan notes payable – non-trade, net | $95.9M | $38.8M | ($91.6M) | ($12.0M) |
| Proceeds from long-term debt | $46.4M | $14.6M | $838.7M | $644.4M |
| Principal payments on long-term debt | ($53.2M) | ($11.2M) | ($985.2M) | ($642.5M) |
| Principal payments on finance lease obligations | ($11.6M) | ($6.0M) | ($12.3M) | ($8.2M) |
| Proceeds from issuance of shares related to employee stock options and employee stock purchases | 21.4M | 15.9M | 15.0M | 7.9M |
| Taxes paid related to net share settlement of equity awards | ($9.5M) | ($9.5M) | ($1.4M) | ($9.7M) |
| Payments of cash dividends | ($30.5M) | ($15.3M) | ($43.7M) | ($28.9M) |
| Common stock repurchased | ($5.4M) | — | ($124.4M) | ($117.1M) |
| Net cash provided by (used in) financing activities | $53.4M | $27.3M | ($404.9M) | ($166.3M) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | $52.7M | $27.1M | $13.8M | ($17.3M) |
| Effect of exchange rate on cash | ($366.0K) | ($70.0K) | $91.0K | $287.0K |
| Cash, cash equivalents and restricted cash, beginning of period | $212.6M | $212.6M | $228.1M | $228.1M |
| Cash, cash equivalents and restricted cash, end of period | $264.9M | $239.7M | $242.0M | $211.1M |
| us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations | $264.9M | — | — | — |
| Interest | $13.8M | $8.1M | $42.6M | $28.7M |
| Income taxes, net of refunds | $517.0K | ($177.0K) | $42.5M | $20.5M |
| Assets acquired under finance leases | $10.9M | $4.5M | $24.5M | $12.2M |
Rush Enterprises Inc. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.