vs
Side-by-side financial comparison of RYDER SYSTEM INC (R) and SHOPIFY INC. (SHOP). Click either name above to swap in a different company.
SHOPIFY INC. is the larger business by last-quarter revenue ($3.7B vs $3.1B, roughly 1.2× RYDER SYSTEM INC). SHOPIFY INC. runs the higher net margin — 20.2% vs 3.0%, a 17.3% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs 1.0%). SHOPIFY INC. produced more free cash flow last quarter ($715.0M vs $273.0M). Over the past eight quarters, SHOPIFY INC.'s revenue compounded faster (40.5% CAGR vs -0.9%).
Ryder System, Inc. is an American transportation and logistics company, specializing in truck rental and leasing, fleet management, supply chain management, and transportation management. It also offers full-service leasing, rental and maintenance, used vehicle sales, transportation management, professional drivers, e-commerce fulfillment, and last-mile delivery services. The company is headquartered in Coral Gables, Florida, and operates in the United States and United Kingdom.
Shopify Inc., stylized as shopify, is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario that operates a platform for retail point-of-sale systems. The company has over 5 million customers and processed US$292.3 billion in transactions in 2024, of which 57% was in the United States. Major customers include Tesla, LVMH, Nestlé, PepsiCo, AB InBev, Kraft Heinz, Lindt, Whole Foods Market, Red Bull, and Hyatt.
R vs SHOP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.1B | $3.7B |
| Net Profit | $93.0M | $743.0M |
| Gross Margin | — | 46.1% |
| Operating Margin | — | 17.2% |
| Net Margin | 3.0% | 20.2% |
| Revenue YoY | 1.0% | 30.6% |
| Net Profit YoY | -5.1% | -42.5% |
| EPS (diluted) | $2.34 | $0.58 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $3.1B | — | ||
| Q4 25 | $3.2B | $3.7B | ||
| Q3 25 | $3.2B | $2.8B | ||
| Q2 25 | $3.2B | $2.7B | ||
| Q1 25 | $3.1B | $2.4B | ||
| Q4 24 | $3.2B | $2.8B | ||
| Q3 24 | $3.2B | $2.2B | ||
| Q2 24 | $3.2B | $2.0B |
| Q1 26 | $93.0M | — | ||
| Q4 25 | $132.0M | $743.0M | ||
| Q3 25 | $138.0M | $264.0M | ||
| Q2 25 | $131.0M | $906.0M | ||
| Q1 25 | $98.0M | $-682.0M | ||
| Q4 24 | $135.0M | $1.3B | ||
| Q3 24 | $142.0M | $828.0M | ||
| Q2 24 | $127.0M | $171.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 46.1% | ||
| Q3 25 | — | 48.9% | ||
| Q2 25 | — | 48.6% | ||
| Q1 25 | — | 49.5% | ||
| Q4 24 | — | 48.1% | ||
| Q3 24 | — | 51.7% | ||
| Q2 24 | — | 51.1% |
| Q1 26 | — | — | ||
| Q4 25 | 5.6% | 17.2% | ||
| Q3 25 | 6.0% | 12.1% | ||
| Q2 25 | 5.8% | 10.9% | ||
| Q1 25 | 4.3% | 8.6% | ||
| Q4 24 | 5.7% | 16.5% | ||
| Q3 24 | 5.9% | 13.1% | ||
| Q2 24 | 5.6% | 11.8% |
| Q1 26 | 3.0% | — | ||
| Q4 25 | 4.2% | 20.2% | ||
| Q3 25 | 4.4% | 9.3% | ||
| Q2 25 | 4.1% | 33.8% | ||
| Q1 25 | 3.1% | -28.9% | ||
| Q4 24 | 4.2% | 46.0% | ||
| Q3 24 | 4.5% | 38.3% | ||
| Q2 24 | 4.0% | 8.4% |
| Q1 26 | $2.34 | — | ||
| Q4 25 | $3.22 | $0.58 | ||
| Q3 25 | $3.32 | $0.20 | ||
| Q2 25 | $3.13 | $0.69 | ||
| Q1 25 | $2.27 | $-0.53 | ||
| Q4 24 | $3.09 | $0.99 | ||
| Q3 24 | $3.24 | $0.64 | ||
| Q2 24 | $2.84 | $0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $182.0M | $5.8B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.9B | $13.5B |
| Total Assets | — | $15.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $182.0M | — | ||
| Q4 25 | $198.0M | $5.8B | ||
| Q3 25 | $189.0M | $6.3B | ||
| Q2 25 | $180.0M | $5.8B | ||
| Q1 25 | $151.0M | $5.5B | ||
| Q4 24 | $154.0M | $5.5B | ||
| Q3 24 | $162.0M | — | ||
| Q2 24 | $164.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | $6.8B | — | ||
| Q3 25 | $7.3B | — | ||
| Q2 25 | $7.0B | — | ||
| Q1 25 | $6.7B | — | ||
| Q4 24 | $6.7B | — | ||
| Q3 24 | $6.6B | — | ||
| Q2 24 | $6.5B | — |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | $13.5B | ||
| Q3 25 | $3.1B | $12.5B | ||
| Q2 25 | $3.1B | $12.1B | ||
| Q1 25 | $3.0B | $11.1B | ||
| Q4 24 | $3.1B | $11.6B | ||
| Q3 24 | $3.1B | $10.1B | ||
| Q2 24 | $3.1B | $9.2B |
| Q1 26 | — | — | ||
| Q4 25 | $16.4B | $15.2B | ||
| Q3 25 | $16.5B | $15.0B | ||
| Q2 25 | $16.5B | $14.6B | ||
| Q1 25 | $16.4B | $13.4B | ||
| Q4 24 | $16.7B | $13.9B | ||
| Q3 24 | $16.5B | — | ||
| Q2 24 | $16.4B | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.24× | — | ||
| Q3 25 | 2.35× | — | ||
| Q2 25 | 2.27× | — | ||
| Q1 25 | 2.21× | — | ||
| Q4 24 | 2.14× | — | ||
| Q3 24 | 2.17× | — | ||
| Q2 24 | 2.09× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $583.0M | $725.0M |
| Free Cash FlowOCF − Capex | $273.0M | $715.0M |
| FCF MarginFCF / Revenue | 8.7% | 19.5% |
| Capex IntensityCapex / Revenue | 13.7% | 0.3% |
| Cash ConversionOCF / Net Profit | 6.27× | 0.98× |
| TTM Free Cash FlowTrailing 4 quarters | $595.0M | $2.0B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $583.0M | — | ||
| Q4 25 | $749.0M | $725.0M | ||
| Q3 25 | $442.0M | $513.0M | ||
| Q2 25 | $752.0M | $428.0M | ||
| Q1 25 | $651.0M | $367.0M | ||
| Q4 24 | $558.0M | $615.0M | ||
| Q3 24 | $629.0M | $423.0M | ||
| Q2 24 | $552.0M | $340.0M |
| Q1 26 | $273.0M | — | ||
| Q4 25 | $344.0M | $715.0M | ||
| Q3 25 | $-85.0M | $507.0M | ||
| Q2 25 | $63.0M | $422.0M | ||
| Q1 25 | $137.0M | $363.0M | ||
| Q4 24 | $-201.0M | $611.0M | ||
| Q3 24 | $30.0M | $421.0M | ||
| Q2 24 | $-87.0M | $333.0M |
| Q1 26 | 8.7% | — | ||
| Q4 25 | 10.8% | 19.5% | ||
| Q3 25 | -2.7% | 17.8% | ||
| Q2 25 | 2.0% | 15.7% | ||
| Q1 25 | 4.4% | 15.4% | ||
| Q4 24 | -6.3% | 21.7% | ||
| Q3 24 | 0.9% | 19.5% | ||
| Q2 24 | -2.7% | 16.3% |
| Q1 26 | 13.7% | — | ||
| Q4 25 | 12.8% | 0.3% | ||
| Q3 25 | 16.6% | 0.2% | ||
| Q2 25 | 21.6% | 0.2% | ||
| Q1 25 | 16.4% | 0.2% | ||
| Q4 24 | 23.8% | 0.1% | ||
| Q3 24 | 18.9% | 0.1% | ||
| Q2 24 | 20.1% | 0.3% |
| Q1 26 | 6.27× | — | ||
| Q4 25 | 5.67× | 0.98× | ||
| Q3 25 | 3.20× | 1.94× | ||
| Q2 25 | 5.74× | 0.47× | ||
| Q1 25 | 6.64× | — | ||
| Q4 24 | 4.13× | 0.48× | ||
| Q3 24 | 4.43× | 0.51× | ||
| Q2 24 | 4.35× | 1.99× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
R
| Fleet Management Solutions | $1.5B | 47% |
| ChoiceLease | $878.0M | 28% |
| Dedicated Transportation Solutions | $553.0M | 18% |
| Commercial rental | $211.0M | 7% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
