RUSH ENTERPRISES INC \TX\
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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FY2025 · Filed Feb 25, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Table of Contents
RUSH ENTERPRISES, INC.
Index to Form 10-K
Year ended December 31, 2025
| Page No. | ||
|---|---|---|
| Part I | ||
| Item 1 | Business | 4 |
| Item 1A | Risk Factors | 17 |
| Item 1B | Unresolved Staff Comments | 27 |
| Item 1C | Cybersecurity | 27 |
| Item 2 | Properties | 28 |
| Item 3 | Legal Proceedings | 28 |
| Item 4 | Mine Safety Disclosures | 28 |
| Part II | ||
| Item 5 | Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities | 28 |
| Item 6 | [Reserved] | 31 |
| Item 7 | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 31 |
| Item 7A | Quantitative and Qualitative Disclosures about Market Risk | 42 |
| Item 8 | Financial Statements and Supplementary Data | 43 |
| Item 9 | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure | 76 |
| Item 9A | Controls and Procedures | 76 |
| Item 9B | Other Information | 79 |
| Item 9C | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections | 79 |
| Part III | ||
| Item 10 | Directors, Executive Officers and Corporate Governance | 79 |
| Item 11 | Executive Compensation | 79 |
| Item 12 | Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters | 79 |
| Item 13 | Certain Relationships and Related Transactions, and Director Independence | 79 |
| Item 14 | Principal Accountant Fees and Services | 79 |
| Part IV | ||
| Item 15 | Exhibits, Financial Statement Schedules | 79 |
NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained in this Form 10-K (or otherwise made by the Company or on the Company’s behalf from time to time in other reports, filings with the Securities and Exchange Commission (“SEC”), news releases, conferences, website postings or otherwise) that are not statements of historical fact constitute“forward-looking statements”* within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the*“Securities Act”), and Section 21E of the Exchange Act of 1934, as amended (the“Exchange Act”), notwithstanding that such statements are not specifically identified. Forward-looking statements include statements about the Company’s financial position, business strategy and plans and objectives of management of the Company for future operations. These forward-looking statements reflect the best judgments of the Company about the future events and trends based on the beliefs of the Company’s management as well as assumptions made by and information currently available to the Company’s management. Use of the words“may,”* “should,” “continue,” “plan,” “potential,” “anticipate,” “believe,” “estimate,” “expect” and*“intend”* and words or phrases of similar import, as they relate to the Company or its subsidiaries or Company management, are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Forward-looking statements reflect our current view of the Company with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those in such statements. Please read Item 1A.“Risk Factors” for a discussion of certain of those risks. Other unknown or unpredictable factors could also have a material adverse effect on future results. Although the Company believes that its expectations are reasonable as of the date of this Form 10-K, it can give no assurance that such expectations will prove to be correct. The Company does not intend to update or revise any forward-looking statements unless securities laws require it to do so, and the Company undertakes no obligation to publicly release any revisions to forward-looking statements, whether because of new information, future events or otherwise.*
NOTE REGARDING TRADEMARKS COMMONLY USED IN THE COMPANY’S FILINGS
Peterbilt®* is a registered trademark of Peterbilt Motors Company. PACCAR*®* is a registered trademark of PACCAR, Inc. PacLease*®* is a registered trademark of PACCAR Leasing Corporation. International*®* is a registered trademark of International Motors, LLC (f/k/a Navistar, Inc.). Idealease is a registered trademark of Idealease, Inc. aka Idealease of North America, Inc. Blue Bird*®* is a registered trademark of Blue Bird Investment Corporation. IC Bus*®* is a registered trademark of IC Bus, LLC. Hino*®* is a registered trademark of Hino Motors, Ltd. Isuzu*®* is a registered trademark of Isuzu Motors Limited. Ford*®* is a registered trademark of Ford Motor Company. Cummins*®* is a registered trademark of Cummins, Inc. Blue Arc*®* is a registered trademark of The Shyft Group Inc. Battle Motors*®* is a registered trademark of Battle Motors, Inc. This report contains additional trade names or trademarks of other companies. Our use of such trade names or trademarks should not imply any endorsement or relationship with such companies.*
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.