Free vibration of rings is presented via wave approach theoretically. Firstly, based on the solutions of out-of-plane vibration, propagation, reflection, and coordination matrices are derived for the case of a fixed boundary at inner surface and a free boundary at outer surface. Then, assembling these matrices, characteristic equation of natural frequency is obtained. Wave approach is employed to study the free vibration of these ring structures. Natural frequencies calculated by wave approach are compared with those obtained by classical method and Finite Element Method (FEM). Afterwards natural frequencies of four type boundaries are calculated. Transverse vibration transmissibility of rings propagating from outer to inner and from inner to outer is investigated. Finally, the effects of structural and material parameters on free vibration are discussed in detail.