PACCAR Inc

PCAR · NASDAQ · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$57,515	$54,538	$51,078	$34,419	$30,642	$29,954	$27,462	$19,838	$24,677	$22,185	$16,456	$24,144	$20,960	$16,054	$13,613	$20,931	$13,195	$10,418	$20,218	$16,227	$11,888	$14,054	$9,917	$5,331	$5,017	$3,780	$3,468	$3,214	$4,074	$2,635	$1,636	$1,719	$2,067	$1,929	$1,640	$1,116	$1,497	$1,470	$1,022	$836	$835
Enterprise value	$63,636	$60,593	$56,451	$39,794	$36,415	$36,297	$33,935	$26,174	$31,164	$28,676	$22,631	$30,335	$27,460	$22,373	$17,251	$23,716	$17,136	$15,772	$25,457	$20,833	$15,852	$16,660	$12,021	$7,622	$7,523	$6,846	$6,067	$5,755	$6,172	$4,886	$3,565	$3,140	$3,261	$2,758	$2,416	$2,005	$2,280	$1,677	$735	$832	$831
P/E (TTM) at period end	24.21×	13.10×	11.10×	11.43×	16.43×	23.02×	11.50×	9.04×	14.73×	42.52×	10.26×	17.77×	17.89×	14.44×	13.06×	45.74×	117.92×	10.23×	16.47×	10.85×	10.49×	15.50×	18.84×	14.33×	28.90×	8.56×	5.94×	7.71×	11.82×	13.11×	6.47×	8.41×	14.54×	29.59×	41.31×	17.53×	6.19×	8.36×	9.08×	15.39×	11.45×
P/S (TTM) at period end	2.02×	1.62×	1.45×	1.19×	1.30×	1.60×	1.07×	0.84×	1.27×	1.30×	0.86×	1.27×	1.22×	0.94×	0.83×	2.03×	1.63×	0.70×	1.33×	0.99×	0.85×	1.23×	1.21×	0.74×	0.82×	0.48×	0.38×	0.41×	0.60×	0.57×	0.34×	0.38×	0.58×	0.71×	0.70×	0.40×	0.42×	0.47×	0.42×	0.47×	0.44×
P/B at period end	2.99×	3.12×	3.22×	2.61×	2.64×	2.84×	2.83×	2.31×	3.07×	3.27×	2.37×	3.58×	3.16×	2.75×	2.54×	3.91×	2.59×	2.15×	4.03×	3.64×	3.05×	3.74×	3.05×	2.05×	2.23×	1.68×	1.64×	1.82×	2.72×	1.94×	1.31×	1.46×	1.87×	1.86×	1.59×	1.10×	1.49×	1.63×	1.28×	1.15×	1.17×
EV / EBITDA (TTM)	18.94×	11.45×	8.87×	9.92×	14.12×	18.03×	10.29×	8.65×	12.92×	12.85×	8.64×	13.27×	14.59×	12.54×	10.29×	28.29×	158.23×	9.06×	9.63×	6.64×	6.16×	8.52×	9.36×	7.53×	10.97×	6.34×	4.96×	6.18×	8.43×	9.43×	6.41×	6.67×	10.02×	13.85×	16.54×	8.87×	5.47×	–	–	–	–
EV / Sales (TTM)	2.24×	1.80×	1.61×	1.38×	1.55×	1.94×	1.33×	1.11×	1.60×	1.68×	1.18×	1.60×	1.60×	1.31×	1.05×	2.30×	2.12×	1.05×	1.67×	1.27×	1.13×	1.46×	1.47×	1.06×	1.23×	0.86×	0.67×	0.73×	0.91×	1.06×	0.74×	0.70×	0.92×	1.01×	1.03×	0.72×	0.65×	0.54×	0.30×	0.46×	0.44×
Returns
Return on equity	12.3%	23.8%	29.0%	22.9%	16.1%	12.4%	24.6%	25.5%	20.8%	7.7%	23.1%	20.1%	17.7%	19.0%	19.4%	8.5%	2.2%	21.0%	24.5%	33.6%	29.0%	24.1%	16.2%	14.3%	7.7%	19.6%	27.7%	23.6%	23.0%	14.8%	20.2%	17.4%	12.8%	6.3%	3.8%	6.2%	24.0%	19.4%	14.0%	7.5%	10.2%
Return on invested capital	8.1%	14.3%	20.7%	14.3%	9.5%	7.5%	13.2%	13.2%	10.1%	6.2%	11.0%	9.5%	8.0%	8.2%	10.3%	5.2%	(0.6%)	7.3%	15.4%	18.8%	16.6%	15.6%	11.6%	9.5%	6.7%	10.8%	13.0%	12.0%	11.1%	7.8%	9.6%	10.0%	7.6%	5.8%	4.4%	6.2%	13.6%	12.4%	20.4%	5.8%	6.6%
Dividend yield	3.9%	4.2%	3.0%	2.9%	2.3%	4.1%	4.1%	4.1%	2.3%	3.7%	4.1%	2.6%	1.4%	5.0%	1.6%	1.2%	1.8%	6.0%	3.6%	3.3%	4.2%	1.9%	1.7%	2.3%	3.4%	5.8%	5.4%	5.1%	2.5%	5.9%	–	4.3%	2.1%	1.9%	2.1%	7.8%	5.9%	–	–	–	–
Financial health
Current ratio	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	2.28×	2.15×	1.89×	1.78×	1.83×	4.12×	1.97×	2.00×	2.00×	1.87×	1.75×	1.74×	1.96×	3.00×	2.23×	2.30×	2.19×	2.11×	0.83×	2.36×	2.25×	0.73×	1.79×	2.06×	2.19×
Debt / equity	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.19×	1.54×	1.57×	1.63×	1.60×	1.28×	1.18×	1.38×	1.58×	1.78×	1.73×	1.69×	1.63×	1.82×	1.69×	1.45×	1.28×	1.04×	1.04×	1.20×	1.23×	0.63×	0.06×	0.03×	0.02×
Effective tax rate	21.4%	22.9%	19.5%	21.8%	22.2%	21.7%	23.0%	21.9%	22.9%	53.8%	31.4%	32.7%	30.9%	31.8%	30.8%	30.7%	36.1%	30.5%	30.4%	31.2%	36.1%	33.7%	34.6%	35.2%	32.0%	33.6%	36.8%	36.2%	35.6%	35.8%	36.7%	36.1%	35.3%	28.8%	17.8%	32.4%	33.4%	34.3%	36.0%	30.5%	38.4%
Share count
Diluted shares outstanding	527	527	525	523	523	521	521	528	529	792	533	534	533	534	547	549	547	549	560	566	583	593	594	589	584	586	598	597	592	588	591	591	589	588	590	603	611	625	627	624	628

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$27,816	$28,445	$33,664	$35,127	$28,820	$23,522	$18,728	$25,600	$23,496	$19,456	$17,033	$19,115	$18,997	$17,124	$17,050	$16,355	$10,293	$8,086	$14,972	$15,222	$16,454	$14,057	$11,396	$8,195	$7,219	$6,100	$7,919	$9,021	$7,895	$6,764	$4,602	$4,830	$4,490	$3,542	$2,735	$2,339	$2,778	$3,523	$3,112	$2,448	$1,796	$1,893
Cost of revenue	($22,256)	($22,737)	($26,070)	($26,894)	($23,291)	($19,092)	($15,073)	($20,556)	($18,925)	($15,629)	($13,534)	($15,292)	($15,482)	($13,901)	($13,908)	($13,342)	($8,199)	($6,483)	($11,737)	($11,917)	($13,037)	($11,223)	($9,269)	($6,732)	($5,947)	($5,079)	($6,497)	($7,136)	($6,307)	($5,437)	($3,656)	($3,878)	($3,637)	($2,885)	($2,250)	($1,886)	($2,228)	($2,810)	($2,606)	($2,059)	($1,568)	($1,648)
Gross profit	$5,560	$5,708	$7,594	$8,233	$5,529	$4,430	$3,656	$5,044	$4,571	$3,828	$3,500	$2,651	$3,515	$3,223	$3,142	$3,013	$2,094	$1,101	$2,552	$3,304	$3,418	$2,835	$2,128	$1,463	$1,271	$1,021	$1,422	$1,886	$1,588	$1,326	$946	$952	$854	$657	$486	$453	$550	$712	$506	$389	$227	$245
Operating expenses
Research and development	($441)	($446)	($453)	($411)	($341)	($324)	($274)	($327)	($306)	($265)	($247)	($240)	($216)	($251)	($279)	($288)	($238)	($199)	($342)	($256)	($163)	($118)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($744)	($736)	($744)	($753)	($726)	($677)	($581)	($698)	($645)	($572)	($543)	($542)	($561)	($560)	($572)	($547)	($482)	($435)	($581)	($602)	($553)	($515)	($488)	($446)	($477)	($516)	($498)	($663)	($656)	($594)	($428)	($395)	($383)	($331)	($286)	($306)	($324)	($295)	($246)	($196)	($144)	($148)
Total operating expenses	($2,884)	($2,746)	($2,702)	($2,287)	($1,850)	($2,122)	($1,892)	($2,069)	($1,882)	($1,736)	($1,571)	($323)	($1,515)	($1,551)	($1,547)	($1,534)	($1,446)	($1,181)	($1,464)	($858)	($716)	($633)	($488)	($446)	($477)	($516)	($498)	($810)	($780)	($706)	($509)	($468)	($446)	($388)	($334)	($356)	($376)	($348)	($297)	($225)	($167)	($169)
Total costs and expenses	($25,139)	($25,483)	($28,771)	($29,181)	($25,141)	($21,214)	($16,965)	($22,625)	($20,807)	($17,365)	($15,104)	($16,788)	($16,996)	($15,452)	($15,455)	($14,876)	($9,644)	($8,166)	($13,884)	($12,775)	($13,753)	($11,855)	($9,757)	($7,178)	($6,424)	($5,595)	($6,995)	($7,946)	($7,087)	($6,144)	($4,165)	($4,346)	($4,083)	($3,273)	($2,583)	($2,242)	($2,604)	($3,158)	($2,903)	($2,284)	($1,735)	($1,817)
Operating income	$2,676	$2,962	$4,892	$5,946	$3,679	$2,308	$1,764	$2,975	$2,688	$2,092	$1,929	$2,328	$2,001	$1,672	$1,596	$1,479	$648	($80)	$1,088	$2,447	$2,701	$2,202	$1,639	$1,016	$794	$506	$924	$1,075	$808	$620	$437	$484	$407	$269	$152	$97	$174	$364	$209	$164	$60	$76
Earnings
EBITDA	$3,086	$3,360	$5,291	$6,361	$4,011	$2,578	$2,013	$3,297	$3,026	$2,413	$2,231	$2,620	$2,286	$1,882	$1,784	$1,676	$838	$108	$1,741	$2,643	$3,136	$2,572	$1,954	$1,284	$1,012	$686	$1,080	$1,222	$931	$732	$518	$556	$471	$326	$199	$146	$226	$417	–	–	–	–
Interest income	$366	$346	$395	$292	$170	($63)	$90	$124	$122	$82	$34	$22	$22	$29	$33	$38	$21	$21	$85	$95	$81	$43	$46	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($755)	($783)	($711)	($501)	($216)	($4)	($192)	($230)	($187)	($150)	($127)	($118)	($134)	($156)	($158)	($192)	($230)	($268)	($327)	–	–	($11)	($298)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$3,206	$3,024	$5,401	$5,718	$3,849	$2,396	$1,662	$3,099	$2,810	$2,173	$1,130	$2,337	$2,018	$1,695	$1,629	$1,507	$660	$175	$1,464	$1,764	$2,175	$1,774	$1,368	$806	$574	$255	$665	$923	$653	$535	$313	$400	$320	$220	$92	$48	$94	$363	$268	$176	$78	$118
Income tax expense	($702)	($648)	($1,239)	($1,117)	($837)	($531)	($360)	($711)	($615)	($498)	($609)	($733)	($659)	($524)	($517)	($465)	($203)	($63)	($446)	($537)	($679)	($640)	($461)	($279)	($202)	($82)	($223)	($340)	($236)	($190)	($112)	($147)	($116)	($78)	($26)	($9)	($30)	($121)	($92)	($63)	($24)	($46)
Net income	$2,504	$2,376	$4,162	$4,601	$3,012	$1,866	$1,301	$2,388	$2,195	$1,675	$522	$1,604	$1,359	$1,171	$1,112	$1,042	$458	$112	$1,018	$1,227	$1,496	$1,133	$907	$526	$372	$174	$442	$584	$417	$345	$201	$253	$204	$142	$65	$40	$64	$242	$176	$112	$54	$73
Per share
Diluted EPS (GAAP)	$4.76	$4.51	$7.90	$8.76	$5.75	$3.57	$2.50	$4.58	$4.16	$3.17	$0.9867	$3.01	$2.55	$2.20	$2.08	$1.91	$0.8333	$0.2067	$1.85	$2.19	$2.64	$1.94	$1.53	$0.89	$0.63	$0.30	$0.75	$0.98	$0.70	$0.58	$0.34	$0.43	$0.35	$0.24	$0.11	$0.0673	$0.11	$0.40	$0.28	$0.18	$0.0871	$0.12
Basic EPS (GAAP)	$4.76	$4.52	$7.92	$8.78	$5.76	$3.58	$2.50	$4.59	$4.17	$3.17	$0.9933	$3.01	$2.55	$2.21	$2.09	$1.91	$0.8333	$0.2067	$1.86	$2.21	$2.66	$1.96	$1.54	$0.89	$0.64	$0.30	$0.76	$0.98	$0.70	$0.58	$0.34	$0.43	$0.35	$0.24	$0.11	$0.0673	$0.11	$0.40	$0.28	$0.18	$0.0871	$0.12
Basic shares outstanding	526	526	525	524	523	522	520	520	526	528	790	532	532	531	533	545	548	546	546	557	563	580	589	590	585	581	582	594	593	590	588	591	591	589	588	590	603	611	625	627	624	628
Margins
Gross margin	20.0%	20.1%	22.6%	23.4%	19.2%	18.8%	19.5%	19.7%	19.5%	19.7%	20.5%	13.9%	18.5%	18.8%	18.4%	18.4%	20.3%	13.6%	17.0%	21.7%	20.8%	20.2%	18.7%	17.9%	17.6%	16.7%	18.0%	20.9%	20.1%	19.6%	20.6%	19.7%	19.0%	18.5%	17.8%	19.4%	19.8%	20.2%	16.3%	15.9%	12.7%	13.0%
Operating margin	9.6%	10.4%	14.5%	16.9%	12.8%	9.8%	9.4%	11.6%	11.4%	10.8%	11.3%	12.2%	10.5%	9.8%	9.4%	9.0%	6.3%	(1.0%)	7.3%	16.1%	16.4%	15.7%	14.4%	12.4%	11.0%	8.3%	11.7%	11.9%	10.2%	9.2%	9.5%	10.0%	9.1%	7.6%	5.6%	4.1%	6.3%	10.3%	6.7%	6.7%	3.4%	4.0%
Net margin	9.0%	8.4%	12.4%	13.1%	10.4%	7.9%	6.9%	9.3%	9.3%	8.6%	3.1%	8.4%	7.2%	6.8%	6.5%	6.4%	4.4%	1.4%	6.8%	8.1%	9.1%	8.1%	8.0%	6.4%	5.2%	2.8%	5.6%	6.5%	5.3%	5.1%	4.4%	5.2%	4.6%	4.0%	2.4%	1.7%	2.3%	6.9%	5.6%	4.6%	3.0%	3.9%

Analyst consensus

Hold45 analysts

Bearish · 3 · Hold · 27 · Bullish · 15

Earnings history

	EPS	Estimate
Q3 2024	$1.85	$1.82	Beat
Q4 2024	$1.66	$1.70	Miss
Q1 2025	$1.46	$1.58	Miss
Q2 2025	$1.37	$1.29	Beat
Q3 2025	$1.12	$1.15	Miss
Q4 2025	$1.06	$1.06	Match
Q1 2026	$1.15	$1.15	Match
Q2 2026	$1.43	$1.36	Beat

Peers

Company overview

IPO dateMar 17, 1980

CEOPreston R. Feight

Employees25,900

SectorIndustrials

IndustryIndustrial - Machinery

CountryUS

ExchangeNASDAQ Global Select

Websitewww.paccar.com

PACCAR Inc is a global leader specializing in the design, production, and distribution of commercial trucks, covering light, medium, and heavy-duty classes. Its market reach extends across the United States, Europe, Mexico, South America, Australia, and other international territories. The company's operations are divided into three principal segments: Truck, Parts, and Financial Services. The Truck division focuses on engineering, manufacturing, and supplying vehicles tailored for both long-distance highway travel and challenging off-highway applications, primarily for hauling commercial and consumer goods. These vehicles are sold worldwide through an expansive network of independent dealerships, prominently featuring the Kenworth, Peterbilt, and DAF brands. The Parts segment is dedicated to supplying aftermarket components for its trucks and associated commercial vehicles. Through its Financial Services arm, which encompasses full-service leasing under the PacLease trademark, PACCAR offers a wide array of financing and leasing products to both its customers and its dealer network. This segment also delivers equipment financing and administrative assistance to its franchisees. It provides retail loans and leasing options to a diverse clientele, including small, medium, and large commercial trucking firms, independent owner-operators, and various other businesses. Additionally, it facilitates truck inventory financing for independent dealers and directly extends loans and leases to customers for purchasing trucks and related equipment. Beyond its core truck business, PACCAR also fabricates and markets industrial winches under the Braden, Carco, and Gearmatic labels. Established in 1905, PACCAR Inc's corporate headquarters are situated in Bellevue, Washington.

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