Ryder Capital (RYD) H2 2025 earnings summary

Executive summary

• FY25 total comprehensive income after tax rose 20% year-over-year to $21.83m.

• Pre-tax NTA increased 27.5% to $1.6272 per share, adjusted for tax and dividends.

• Final FY25 dividend lifted 10% to 5.5 cents per share fully franked, annual dividend now 10.0 cents per share.

• Major performance contributors included SRG Global Ltd, Fleetwood Ltd, and BCI Minerals Ltd.

Financial highlights

• Total distributable profits reserve reached a record $38.7m, or $0.48 per share, up from $0.31 per share in FY24.

• $0.46 per share available for fully franked dividends.

• Share buyback of ~1.64m shares at an average $1.25 per share, totaling $2.04m.

Outlook and guidance

• Portfolio remains actively managed with capital recycled into core and new positions.

• Several core holdings trade below intrinsic value, supporting a positive outlook for another strong year.

• Global equity market outlook is uncertain due to potential US economic slowdown and inflation risks, though monetary easing by central banks may cushion impacts.

• AI impacts expected to be substantial but difficult to quantify.