Rush Enterprises, Inc. (RUSHA) · 10+ Years of Financial statements

Income Statement	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	1,200	1,498	2,581	3,091	3,385	4,727	4,980	4,215	4,714	5,506	5,810	4,736	5,126	7,102	7,925
+ Sales & Services Revenue	1,200	1,498	2,581	3,091	3,385	4,727	4,980	4,215	4,714	5,506	5,810	4,736	5,126	7,102	7,925
- Cost of Revenue	985	1,213	2,157	2,590	2,813	3,971	4,195	3,497	3,884	4,528	4,784	3,860	4,034	5,615	6,332
+ Cost of Goods & Services	985	1,213	2,157	2,590	2,813	3,971	4,195	3,497	3,884	4,528	4,784	3,860	4,034	5,615	6,332
Gross Profit	216	285	423	501	572	756	785	718	830	978	1,026	875	1,092	1,487	1,593
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	208	243	326	387	480	614	663	639	681	776	809	723	785	984	1,082
+ Selling, General & Admin	192	227	306	362	450	574	619	588	631	705	754	665	731	928	1,022
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	16	16	20	25	30	41	44	51	50	70	55	57	53	56	60
Operating Income (Loss)	7	42	97	114	92	142	122	79	149	203	217	153	308	504	512
- Non-Operating (Income) Loss	6	5	7	13	11	11	14	13	12	19	27	1	-6	-6	49
+ Interest Expense, Net	6	5	7	13	11	11	13	14	12	20	29	9	2	19	53
+ Interest Expense	6	5	7	13	11	11	14	15	13	21	30	10	2	20	54
- Interest Income	- -	- -	- -	- -	- -	- -	- -	1	1	1	2	1	1	1	1
+ Other Non-Op (Income) Loss	- -	- -	- -	- -	- -	- -	1	-2	- -	- -	-2	-8	-8	-25	-3
Pretax Income	2	36	90	101	81	131	108	66	136	183	190	152	314	509	462
- Income Tax Expense (Benefit)	-3	12	35	39	32	51	42	26	-36	44	48	37	72	117	114
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	5	25	55	62	49	80	66	41	172	139	142	115	241	392	348
- Net Extraordinary Losses (Gains)	-1	-7	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	2
+ Discontinued Operations	1	7	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	-2	-13	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	2
Income (Loss) Incl. MI	6	31	55	62	49	80	66	41	172	139	142	115	241	391	346
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-1	-1
Net Income, GAAP	6	31	55	62	49	80	66	41	172	139	142	115	241	391	347
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	6	31	55	62	49	80	66	41	172	139	142	115	241	391	347
Basic Weighted Avg Shares	83	84	85	87	89	90	91	90	89	88	82	82	84	83	81
Basic EPS, GAAP	0.07	0.37	0.65	0.72	0.56	0.89	0.73	0.45	1.93	1.58	1.72	1.4	2.88	4.71	4.28
Basic EPS from Cont Ops	0.06	0.29	0.65	0.72	0.56	0.89	0.73	0.45	1.93	1.58	1.72	1.4	2.88	4.72	4.29
Diluted Weighted Avg Shares	85	86	88	89	91	92	92	91	92	91	85	84	87	86	84
Diluted EPS, GAAP	0.07	0.36	0.63	0.7	0.54	0.87	0.71	0.44	1.87	1.53	1.67	1.36	2.78	4.57	4.15
Diluted EPS from Cont Ops	0.06	0.29	0.63	0.7	0.54	0.87	0.71	0.44	1.87	1.53	1.67	1.36	2.78	4.57	4.16
EBITDA	48	88	154	187	185	268	267	237	307	388	392	330	477	703	733
EBITDA Margin (%)	4.01	5.85	5.96	6.06	5.47	5.67	5.36	5.61	6.51	7.04	6.75	6.97	9.31	9.9	9.25
EBITA	7	42	97	114	92	142	122	79	149	203	217	153	308	504	512
EBIT	7	42	97	114	92	142	122	79	149	203	217	153	308	504	512
Gross Margin (%)	17.96	19.02	16.4	16.2	16.9	15.99	15.76	17.04	17.61	17.77	17.65	18.49	21.31	20.94	20.1
Operating Margin (%)	0.62	2.78	3.76	3.69	2.71	3	2.45	1.87	3.16	3.68	3.73	3.23	6	7.09	6.45
Profit Margin (%)	0.49	2.09	2.14	2.02	1.45	1.69	1.33	0.96	3.65	2.53	2.44	2.43	4.71	5.51	4.38
Sales per Employee	486,999	497,650	667,687	706,900	639,227	750,731	743,244	681,976	690,679	763,264	802,022	750,902	715,942	883,402	931,370
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.11	0.22	0.27	0.49	0.54	0.62
Depreciation Expense	41	46	57	73	93	126	145	158	158	185	175	177	169	199	221

Balance Sheet	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	478	559	980	1,006	1,153	1,427	1,327	1,111	1,375	1,688	1,713	1,358	1,324	1,868	2,260
+ Cash, Cash Equivalents & STI	149	169	208	199	217	191	65	82	125	132	182	312	148	201	184
+ Cash & Cash Equivalents	149	169	208	199	217	191	65	82	125	132	182	312	148	201	184
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	39	44	98	90	103	178	168	166	196	204	184	172	140	221	259
+ Accounts Receivable, Net	39	44	77	60	70	131	121	126	162	161	151	141	106	180	218
+ Notes Receivable, Net	- -	- -	- -	- -	- -	8	11	10	12	13	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	21	30	33	39	36	30	21	30	32	31	34	41	41
+ Inventories	252	322	650	691	802	1,024	1,061	840	1,033	1,340	1,326	858	1,020	1,429	1,801
+ Raw Materials	81	83	108	142	158	186	202	187	206	259	273	238	290	370	354
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	177	242	537	548	642	835	858	647	824	1,073	1,052	619	712	1,042	1,436
+ Inventory Adjustments	-5	-3	-5	-10	-12	-16	-14	-10	-12	-12	-17	-15	-8	-16	-21
+ Other Inventory	- -	- -	10	11	14	19	15	16	16	20	18	16	26	35	33
+ Other ST Assets	38	24	24	27	31	33	33	23	21	13	21	15	16	17	16
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	499	609	738	876	1,014	1,249	1,525	1,492	1,515	1,513	1,695	1,628	1,796	1,953	2,104
+ Property, Plant & Equip, Net	354	446	500	622	740	923	1,173	1,136	1,160	1,184	1,337	1,264	1,347	1,471	1,608
+ Property, Plant & Equip	496	614	682	840	999	1,250	1,577	1,589	1,675	1,760	1,944	1,905	2,053	2,271	2,467
- Accumulated Depreciation	142	168	182	218	260	327	404	454	515	576	607	641	706	800	858
+ LT Investments & Receivables	8	8	7	7	7	7	7	6	6	- -	- -	- -	- -	- -	- -
+ LT Investments	8	8	7	7	7	7	7	6	6	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	138	156	231	247	268	319	346	350	349	329	358	363	448	482	496
+ Total Intangible Assets	137	150	231	247	268	319	346	350	349	329	358	363	370	416	421
+ Goodwill	137	150	183	198	215	265	285	290	291	291	292	292	370	416	421
+ Other Intangible Assets	- -	- -	49	49	53	54	61	59	58	38	66	71	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	1	5	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	78	66	75
Total Assets	977	1,168	1,718	1,882	2,168	2,676	2,852	2,603	2,890	3,201	3,407	2,985	3,120	3,821	4,364
+ Payables & Accruals	63	107	197	134	170	217	204	182	204	253	246	263	253	335	335
+ Accounts Payable	22	38	62	62	100	125	120	98	108	127	134	111	122	172	162
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	41	69	134	72	69	93	84	84	96	125	112	152	131	163	173
+ ST Debt	251	308	594	625	701	1,006	1,020	792	941	1,205	1,219	690	670	977	1,193
+ ST Borrowings	245	300	584	615	691	995	1,006	778	924	1,185	1,186	653	631	933	1,140
+ ST Finance Leases	6	8	10	11	10	11	15	14	17	20	33	37	39	44	54
+ Other ST Liabilities	- -	- -	- -	29	58	51	22	19	27	36	43	74	81	116	145
+ Deferred Revenue	- -	- -	- -	29	58	45	22	18	27	36	43	74	81	116	145
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	- -	- -	- -	6	- -	1	- -	- -	- -	- -	- -	- -	- -
Total Current Liabilities	314	415	791	788	929	1,275	1,247	993	1,172	1,493	1,507	1,027	1,004	1,429	1,673
+ LT Debt	183	224	300	359	421	475	566	543	532	489	555	530	483	458	616
+ LT Borrowings	154	190	265	320	386	429	497	473	466	439	438	388	335	275	414
+ LT Finance Leases	29	34	35	39	35	46	69	70	66	49	117	142	148	183	202
+ Other LT Liabilities	55	64	95	126	153	162	194	205	145	152	185	161	167	171	184
+ Accrued Liabilities	55	64	93	124	148	157	189	197	135	141	164	126	140	152	160
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	- -	2	2	5	4	5	7	10	11	21	34	27	19	25
Total Noncurrent Liabilities	237	288	396	485	573	637	760	747	678	641	740	691	650	629	801
Total Liabilities	551	703	1,186	1,274	1,502	1,912	2,007	1,740	1,850	2,134	2,248	1,717	1,653	2,058	2,474
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	189	196	209	223	244	273	289	310	348	370	398	438	471	501	543
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	1	1	1
+ Additional Paid in Capital	188	196	209	223	243	272	288	309	348	370	397	438	471	501	542
- Treasury Stock	18	18	18	18	31	42	43	87	121	246	304	3	37	131	120
+ Retained Earnings	256	287	342	405	454	534	600	640	813	942	1,066	832	1,032	1,378	1,450
+ Other Equity	- -	- -	-2	-2	-1	- -	- -	- -	- -	- -	- -	1	1	-4	-2
Equity Before Minority Interest	426	465	531	608	665	764	845	863	1,040	1,067	1,159	1,268	1,467	1,744	1,871
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	19	20
Total Equity	426	465	531	608	665	764	845	863	1,040	1,067	1,159	1,268	1,467	1,763	1,890
Total Liabilities & Equity	977	1,168	1,718	1,882	2,168	2,676	2,852	2,603	2,890	3,201	3,407	2,985	3,120	3,821	4,364
Shares Outstanding	84	84	86	87	88	90	91	88	90	83	81	82	83	82	78
Capital Leases - Total	34	42	46	50	45	57	84	84	83	69	150	178	187	227	256
Net Debt	250	321	641	735	859	1,233	1,438	1,168	1,266	1,492	1,442	729	818	1,008	1,370
Net Debt to Equity	58.58	69.04	120.7	120.97	129.12	161.29	170.16	135.39	121.64	139.88	124.4	57.52	55.74	57.15	72.47
Tangible Common Equity Ratio	34.44	30.91	20.17	22.09	20.91	18.9	19.91	22.78	27.21	25.68	26.29	34.5	39.87	39.55	37.27
Current Ratio	1.52	1.35	1.24	1.28	1.24	1.12	1.06	1.12	1.17	1.13	1.14	1.32	1.32	1.31	1.35
Cash Conversion Cycle	116.92	87.83	83.34	93.89	93.74	81.92	89.39	97.79	90.01	97.48	101.51	101.38	83.66	78.08	93.2
Number of Employees	2,465	3,010	3,865	4,372	5,295	6,297	6,700	6,180	6,825	7,214	7,244	6,307	7,160	8,039	8,509

Cash Flow Statement	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	6	31	55	62	49	80	66	41	172	139	142	115	241	392	348
+ Depreciation & Amortization	41	46	57	73	93	126	145	158	158	185	175	177	169	199	221
+ Non-Cash Items	1	4	32	34	28	33	45	28	-46	24	43	-25	29	3	36
+ Stock-Based Compensation	4	4	6	7	9	11	12	13	16	18	19	19	22	25	30
+ Deferred Income Taxes	-3	10	29	28	22	25	32	8	-62	6	23	-38	14	4	8
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	8	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	- -	-11	-2	-2	-3	-3	1	-1	- -	- -	1	-7	-7	-27	-2
+ Chg in Non-Cash Work Cap	103	-14	-226	50	3	-151	-29	295	-131	-133	61	496	-18	-299	-310
+ (Inc) Dec in Accts Receiv	16	- -	-50	14	-10	-68	12	2	-29	-8	20	11	32	-75	-38
+ (Inc) Dec in Inventories	104	-49	-268	33	-67	-152	19	292	-147	-255	82	537	-34	-325	-298
+ (Inc) Dec in Prepaid Assets	- -	-10	2	1	-2	-13	-4	24	-3	2	-10	6	- -	1	1
+ Inc (Dec) in Accts Payable	-18	45	55	-7	40	51	-16	-23	21	43	-11	26	-19	64	-3
+ Inc (Dec) in Other	- -	- -	35	9	42	31	-39	- -	28	85	-20	-83	3	34	29
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	150	66	-81	219	173	89	227	521	153	215	421	763	422	294	296
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	11	1	1	- -	3	12	4	6	2	6	3	7	2
+ Disp of Fixed Prod Assets	- -	- -	11	1	1	- -	3	12	4	6	2	6	3	7	2
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-50	-84	-149	-171	-192	-261	-368	-197	-210	-238	-293	-136	-167	-243	-369
+ Acq of Fixed Prod Assets	-50	-84	-149	-171	-192	-261	-368	-197	-210	-238	-293	-136	-167	-243	-369
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	6	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	6	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	-13	-95	-105	-73	-158	-69	-1	-2	- -	-33	- -	-269	7	-16
+ Cash from Divestitures	- -	26	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	28	- -
+ Cash for Acq of Subs	- -	-39	-95	-105	-73	-158	-69	-1	-2	- -	-33	- -	-269	-21	-16
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	1	- -	-6	2	-3	-5	1	-2	3	3	- -	-12	-4
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-50	-97	-232	-274	-270	-416	-436	-189	-207	-227	-320	-127	-433	-241	-387
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -	- -	- -	-9	-18	-22	-41	-45	-51
+ Net Cash From Debt	-98	91	628	19	162	504	112	-491	220	145	18	-479	-90	133	325
+ Cash From Debt	50	154	710	145	263	630	281	121	377	325	345	157	379	1,232	1,635
+ Repayments of Debt	-149	-63	-82	-126	-102	-125	-169	-612	-157	-180	-327	-636	-469	-1,099	-1,309
+ Cash (Repurchase) of Equity	1	2	6	- -	-13	-12	-1	-44	-34	-121	-58	-25	-34	-94	-212
+ Increase in Capital Stock	1	2	6	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	-13	-12	-1	-44	-34	-121	-58	-25	-34	-94	-212
+ Other Financing Activities	- -	-43	-281	27	-34	-190	-28	220	-89	4	8	21	11	5	11
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-98	50	352	46	115	302	82	-315	96	19	-51	-505	-153	-1	74
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	3	20	39	-9	19	-26	-127	17	43	7	50	130	-164	53	-17
Capital Expenditures	-50	-84	-149	-171	-192	-261	-368	-197	-210	-238	-293	-136	-167	-243	-369
EBITDA	48	88	154	187	185	268	267	237	307	388	392	330	477	703	733
EBITDA Margin (%)	4.01	5.85	5.96	6.06	5.47	5.67	5.36	5.61	6.51	7.04	6.75	6.97	9.31	9.9	9.25
Net Cash Paid for Acquisitions	- -	13	95	105	73	158	69	1	2	- -	33	- -	269	-7	16
Free Cash Flow	100	-18	-230	48	-18	-172	-141	324	-57	-23	128	627	255	51	-73
Free Cash Flow to Firm	- -	-14	-226	56	-12	-165	-132	333	- -	-7	151	634	257	67	-33
Free Cash Flow to Equity	2	73	409	68	144	333	-25	-154	166	128	148	154	169	191	254
Free Cash Flow per Basic Share	1.2	-0.21	-2.7	0.56	-0.2	-1.92	-1.55	3.61	-0.64	-0.26	1.55	7.62	3.04	0.62	-0.9
Price/Free Cash Flow	2.29	5.2	12.23	2.03	3.31	3.78	1.52	1.81	5.82	3.11	2.43	2.57	5.42	5.54	6.15
Cash Flow to Net Income	25.54	2.12	-1.47	3.51	3.52	1.11	3.44	12.84	0.89	1.55	2.98	6.64	1.75	0.75	0.85

Rush Enterprises, Inc.

RUSHA US

42.89

42.89