Ryder System (R) risk factors, FY2025 10-K

Ryder System's FY2025 10-K, filed Feb 11, 2026, lists 24 risk factors in 3 groups. Against the prior year's 28: 4 dropped, 9 substantially reworded.

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Risk factors listed
243 groups
New this year
0vs 28 last year
Dropped
4since the prior 10-K
Substantially reworded
9of those kept
Section length
8k wordsItem 1A

What the changes say

  • Ryder System updated its regulatory and compliance risks, adding references to new agencies like the DOL, HHS, and SEC, and highlighted potential impacts from tariffs.

What changed since the prior 10-K

Dropped

  • DroppedStrategic Risks

    technicians, whether through the retention of current technicians or the hiring of new qualified technicians, our business could be adversely affected

  • DroppedLegal and Regulatory Risks

    which may vary significantly from country to country. Our failure to comply with applicable laws and regulations may expose us to legal liability, fines or other penalties

  • DroppedLegal and Regulatory Risks

    Our business may be affected by climate change and legal, regulatory or other market responses to such change

  • DroppedLegal and Regulatory Risks

    vehicle requirements and related taxes, and other increased compliance requirements. These and other similar efforts may impose restrictions on our activities or require us to take certain actions, all of which may, over time, increase our costs and adversely affect our business and results of operations

Reworded

  • 94% rewrittenLegal, Regulatory and Financial Risks

    We operate in a highly regulated industry, and changes in laws and regulations or costs of compliance with, or liability for violation of, existing or future laws or regulations could have a material adverse effect on our business

    Added specific regulatory agencies such as the DOL, HHS, and SEC to the general compliance risk factor.

    Was: We operate in a highly regulated industry, and changes in existing regulations or costs of compliance with, or liability for violation of, existing or future laws or regulations could have a material adverse effect on our business

  • 67% rewrittenLegal, Regulatory and Financial Risks

    Volatility in assumptions, discount rates and investment returns related to our pension plans may adversely affect the funding status of the pension plans, future funding requirements and our pension expense under our defined benefit pension plans

    Updated global defined pension plan figures to reflect values as of December 31, 2025, keeping obligations at $1.6 billion and assets at $1.5 billion.

    Was: Volatility in assumptions, discount rates and asset values related to our pension plans may adversely affect the valuation of our obligations, the current funding levels and our pension expense under our defined benefit pension plans

  • 61% rewrittenBusiness and Operating Risks

    We may fail to respond adequately or in a timely manner to innovative changes in new technology in our industry

    Removed specific examples of advanced vehicle technologies like electric and autonomous vehicles from the technology risk.

  • 59% rewrittenLegal, Regulatory and Financial Risks

    If we are unable to mitigate labor shortage challenges, our financial results may continue to be negatively impacted

    Toned down labor shortage risk language by shifting references to past high labor costs instead of ongoing challenges.

  • 48% rewrittenBusiness and Operating Risks

    Disruptions in global supply chains have impacted, and may continue to impact, our business, results of operations and financial condition

    Added vehicle parts to FMS supply chain disruptions and included changes in international trade policy as a disruption catalyst.

  • 27% rewrittenLegal, Regulatory and Financial Risks

    Our business may be affected by uncertainty or changes in U.S. or global social, political or regulatory conditions

    Added specific mention of recently imposed tariffs on imported vehicles, vehicle parts, and industrial goods, as well as the USMCA.

  • 27% rewrittenBusiness and Operating Risks

    Decreased customer demand for transportation and logistics services due to adverse economic conditions, competition or other factors has impacted and could in the future adversely impact our business and operating results

    Added a specific mention of potential customer volume declines due to increased prices resulting from tariffs.

  • 27% rewrittenLegal, Regulatory and Financial Risks

    Damage to our reputation through unfavorable publicity or the actions of our employees could adversely affect our financial condition

    Made minor phrasing adjustments regarding operational excellence and customer service reputation risks.

  • 20% rewrittenLegal, Regulatory and Financial Risks

    We face litigation risks that could have a material adverse effect on the operation of our business

All 24 risk factors

Headings as the filing states them, in filing order.

Business and Operating Risks

  1. 01Decreased customer demand for transportation and logistics services due to adverse economic conditions, competition or other factors has impacted and could in the future adversely impact our business and operating results27% rewritten
  2. 02We bear the risk that we will not be able to resell our used vehicles at a price at or above their residual value estimates
  3. 03Our profitability has been and could in the future be negatively impacted if our key operational assumptions and pricing structure prove to be invalid
  4. 04Disruptions in global supply chains have impacted, and may continue to impact, our business, results of operations and financial condition48% rewritten
  5. 05Our capital-intensive business requires us to make capital decisions based upon projected customer activity levels and market demand for our commercial rental product line
  6. 06Failure to maintain, upgrade and consolidate our information technology networks, or maintain adequate controls over such technology systems, could adversely affect us
  7. 07We face risks related to cybersecurity incidents and other breaches of our systems and information technology
  8. 08We may fail to respond adequately or in a timely manner to innovative changes in new technology in our industry61% rewritten
  9. 09We may fail to establish sufficient insurance reserves to adequately cover workers' compensation and vehicle liabilities

Strategic Risks

  1. 10We operate in a highly competitive industry, and our business may suffer if we are unable to adequately address potential downward pricing pressures and other competitive factors
  2. 11Failure to execute our business strategy, explore strategic transactions, and develop, market and deliver high-quality services that meet customer expectations may cause our revenue and earnings to suffer
  3. 12We and the vehicle equipment manufacturers in our FMS business rely on a small number of suppliers
  4. 13We derive a significant portion of our SCS and DTS revenue from a limited number of customers

Legal, Regulatory and Financial Risks

  1. 14We face litigation risks that could have a material adverse effect on the operation of our business20% rewritten
  2. 15We operate in a highly regulated industry, and changes in laws and regulations or costs of compliance with, or liability for violation of, existing or future laws or regulations could have a material adverse effect on our business94% rewritten
  3. 16Our business may be affected by uncertainty or changes in U.S. or global social, political or regulatory conditions27% rewritten
  4. 17We may be negatively impacted by adverse events in the U.S. credit and financial markets, by an investment rating downgrade, or by the loss of an investment grade rating
  5. 18Volatility in assumptions, discount rates and investment returns related to our pension plans may adversely affect the funding status of the pension plans, future funding requirements and our pension expense under our defined benefit pension plans67% rewritten
  6. 19Our failure to comply with U.S. or foreign tax laws or a government challenging our tax position could adversely affect our business and future operating results
  7. 20If we are unable to mitigate labor shortage challenges, our financial results may continue to be negatively impacted59% rewritten
  8. 21A significant labor dispute involving us, our vendors or one or more of our customers, or that could otherwise affect our operations, may result in strikes, work stoppages or substantially higher labor costs
  9. 22Damage to our reputation through unfavorable publicity or the actions of our employees could adversely affect our financial condition27% rewritten
  10. 23Future acts of terrorism or war, or regulatory changes to combat the risk of terrorism or war may cause significant disruptions in our operations
  11. 24Extreme weather or other natural occurrences could result in significant business interruptions and expenditures in excess of available insurance coverage

Other Ryder System 10-Ks

  • FY2024 10-K risk factors
    28 risks

    Ryder System's risk section is dominated by operational exposures in transportation and logistics, including used vehicle residual values, customer concentration, labor shortages, and capital intensity.

    Filed Feb 12, 2025

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.