olivLaw · US equity research
PACCAR Inc PCAR
Motor Vehicles & Passenger Car Bodies · SIC 3711 · Vertical: Motor Vehicles & Passenger Car Bodies (SIC 3711)
PACCAR designs, manufactures and distributes heavy, medium and light commercial trucks under the Kenworth, Peterbilt and DAF nameplates, complemented by aftermarket parts and financial services. The company reported revenues of 28.44 billion USD in 2025, down from the prior year, but its second-quarter 2026 results point to a recovery in demand. The figures show the business remains sensitive to the economic cycle and to tariffs.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, PACCAR Inc (PCAR) stock was 106.16 USD (+4.05% on the day), with market capitalisation 55.9 bn USD, P/E 20.2 on diluted EPS of 5.25 USD over the last 12 months, dividend yield 2.60%, beta 0.89, 52-week range 94.15–138.21 USD. Latest reported quarter (Q3 2026): revenue of 7.9 bn USD (+19.0% YoY), net income of 847.5 m USD (+43.6% YoY), diluted EPS 1.61 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 44.6
- weak (30–45)
- Bollinger (20, 2)
- 100.43 – 113.06
- in the lower half of the band · %B 0.45 · band width 11.8%
- SMA 50 / 200
- 113.23 / 119.85
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -2.83 / -2.95
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −2.9% | −1.1% | −1.8 pp | — |
| 3 months | −20.4% | −0.5% | −19.9 pp | — |
| 6 months | −8.9% | +4.4% | −13.3 pp | — |
| Year to date | −3.1% | +12.3% | −15.4 pp | — |
| 1 year | +9.5% | +13.5% | −4.0 pp | −40.0% |
| 3 years | +22.3% | +76.4% | −54.1 pp | −57.7% |
| 5 years | +76.9% | +63.7% | +13.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7.9 bn | 7.4 bn | 7.5 bn | 6.7 bn | 6.8 bn | 6.8 bn | 7.5 bn | 7.9 bn |
| Cost of revenue | 6.2 bn | 5.9 bn | 6.0 bn | 5.3 bn | 5.5 bn | 5.4 bn | 6.0 bn | 6.3 bn |
| Research & development | 115.3 m | 115.4 m | 112.9 m | 111.0 m | 106.2 m | 109.1 m | 114.3 m | 108.9 m |
| SG&A | 187.4 m | 181.6 m | 179.3 m | 180.2 m | 194.7 m | 189.3 m | 179.7 m | 167.8 m |
| Depreciation & amortisation | 98.2 m | 99.7 m | 207.3 m | 205.8 m | 100.9 m | 100.5 m | 215.0 m | 216.5 m |
| Pre-tax income | 1.1 bn | 643.1 m | 931.9 m | 743.6 m | 704.9 m | 776.3 m | 981.5 m | 1.1 bn |
| Income tax | 277.3 m | 138.0 m | 208.1 m | 153.6 m | 148.0 m | 171.0 m | 229.5 m | 233.5 m |
| Net income | 872.0 m | 505.1 m | 723.8 m | 590.0 m | 556.9 m | 605.3 m | 752.0 m | 847.5 m |
| Diluted EPS | 1.65 ≈ | 0.96 | 1.37 | 1.12 | 1.06 ≈ | 1.15 | 1.43 | 1.61 |
| Operating cash flow | 1.4 bn | 910.3 m | 833.4 m ≈ | 1.5 bn ≈ | 1.1 bn | 971.8 m | 700.8 m ≈ | 847.7 m ≈ |
| Capex | 233.4 m | 165.1 m | 222.1 m ≈ | 165.9 m ≈ | 189.9 m | 147.2 m | 145.4 m ≈ | 136.8 m ≈ |
| Dividends paid | 157.4 m | 1.7 bn | 173.3 m ≈ | 173.4 m ≈ | 173.4 m | 909.4 m | 184.3 m ≈ | 184.3 m ≈ |
| Share repurchases | 0 | 4.3 m | 30.7 m ≈ | 200.0 k ≈ | 900.0 k | 4.8 m | 0 ≈ | 800.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 84 percentile of its own 44-quarter history (min 6.1, median 12.1, max 28.8; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 23.5 bn | 25.6 bn | 18.7 bn | 23.5 bn | 28.8 bn | 35.1 bn | 33.7 bn | 28.4 bn |
| Revenue YoY | +20.8% | +9.0% | −26.8% | +25.6% | +22.5% | +21.9% | −4.2% | −15.5% |
| Net income | 2.2 bn | 2.4 bn | 1.3 bn | 1.9 bn | 3.0 bn | 4.6 bn | 4.2 bn | 2.4 bn |
| Net income YoY | +31.0% | +8.8% | −45.5% | +43.4% | +61.4% | +52.8% | −9.5% | −42.9% |
| Diluted EPS | 6.24 | 6.87 | 2.50 | 3.57 | 5.75 | 8.76 | 7.90 | 4.51 |
| Diluted EPS YoY | +31.4% | +10.1% | −63.6% | +42.8% | +61.1% | +52.3% | −9.8% | −42.9% |
| net % | 9.3% | 9.3% | 6.9% | 7.9% | 10.4% | 13.1% | 12.4% | 8.4% |
| Free cash flow | 2.5 bn | 2.3 bn | 2.4 bn | 1.6 bn | 2.5 bn | 3.5 bn | 3.8 bn | 3.7 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- unavailable USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 19.3 bn USD
- Total assets
- 44.3 bn USD
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- 12.9%
- ROA
- 5.4%
- FCF margin
- 12.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 18.7 bn | 23.5 bn | 28.8 bn | 35.1 bn | 33.7 bn | 28.4 bn | SEC (XBRL)· 18 Feb 2026verified |
| Cost of revenue | — | — | 23.3 bn | 26.9 bn | 26.1 bn | 22.7 bn | SEC (XBRL)· 18 Feb 2026verified |
| Gross profit | — | — | 5.5 bn ≈ | 8.2 bn ≈ | 7.6 bn ≈ | 5.7 bn ≈ | SEC (XBRL)· 18 Feb 2026derived |
| Research & development | — | — | 341.2 m | 410.9 m | 452.9 m | 445.5 m | SEC (XBRL)· 18 Feb 2026verified |
| SG&A | — | — | 726.3 m | 753.3 m | 744.0 m | 735.8 m | SEC (XBRL)· 18 Feb 2026verified |
| Depreciation & amortisation | 249.6 m | 270.0 m | 332.2 m | 415.0 m | 398.4 m | 398.2 m | SEC (XBRL)· 18 Feb 2026verified |
| Pre-tax income | 1.7 bn | 2.4 bn | 3.8 bn | 5.7 bn | 5.4 bn | 3.0 bn | SEC (XBRL)· 18 Feb 2026verified |
| Income tax | 360.4 m | 530.8 m | 837.1 m | 1.1 bn | 1.2 bn | 647.7 m | SEC (XBRL)· 18 Feb 2026verified |
| Net income | 1.3 bn | 1.9 bn | 3.0 bn | 4.6 bn | 4.2 bn | 2.4 bn | SEC (XBRL)· 18 Feb 2026verified |
| Diluted EPS | 2.50 | 3.57 | 5.75 | 8.76 | 7.90 | 4.51 | SEC (XBRL)· 18 Feb 2026verified |
| Weighted average diluted shares | 521.2 m | 522.7 m | 523.4 m | 525.0 m | 526.6 m | 526.8 m | SEC (XBRL)· 18 Feb 2026verified |
| Dividend per share | — | — | 2.80 | 4.24 | 4.17 | 2.72 | SEC (XBRL)· 18 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Inventories | — | 2.0 bn | — | — | — | — | SEC (XBRL)· 03 May 2022verified |
| Property, plant & equipment, net | 3.3 bn | 3.4 bn | 3.5 bn | 3.8 bn | 4.0 bn | 4.5 bn | SEC (XBRL)· 18 Feb 2026verified |
| Goodwill | 118.8 m | 110.6 m | 104.1 m | 107.4 m | 100.7 m | 114.2 m | SEC (XBRL)· 18 Feb 2026verified |
| Total assets | 28.5 bn | 29.5 bn | 33.3 bn | 40.8 bn | 43.4 bn | 44.3 bn | SEC (XBRL)· 18 Feb 2026verified |
| Equity | 10.5 bn † | 11.6 bn † | 13.2 bn † | 15.9 bn † | 17.5 bn † | 19.3 bn † | SEC (XBRL)· 18 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 3.0 bn | 2.2 bn | 3.0 bn | 4.2 bn | 4.6 bn | 4.4 bn | SEC (XBRL)· 18 Feb 2026verified |
| Capex | 550.4 m | 559.1 m | 525.0 m | 695.0 m | 838.7 m | 743.0 m | SEC (XBRL)· 18 Feb 2026verified |
| Free cash flow | 2.4 bn ≈ | 1.6 bn ≈ | 2.5 bn ≈ | 3.5 bn ≈ | 3.8 bn ≈ | 3.7 bn ≈ | SEC (XBRL)· 18 Feb 2026derived |
| Investing cash flow | -1.9 bn | -1.4 bn | -2.0 bn | -2.9 bn | -4.5 bn | -2.3 bn | SEC (XBRL)· 18 Feb 2026verified |
| Financing cash flow | -1.8 bn | -882.9 m | 304.9 m | 1.1 bn | -123.1 m | -3.1 bn | SEC (XBRL)· 18 Feb 2026verified |
| Dividends paid | 1.2 bn | 708.0 m | 1.0 bn | 1.5 bn | 2.3 bn | 2.3 bn | SEC (XBRL)· 18 Feb 2026verified |
| Share repurchases | 42.1 m | 1.5 m | 2.1 m | 3.5 m | 4.5 m | 36.1 m | SEC (XBRL)· 18 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
- score weight coverage: 58.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 55.9 bn USD
Key indicators
Coverage and freshness
Score by group
58% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 35.74 – 118.29 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E100.10 – 118.29 (Mid 108.16)3 companies used · median multiple 20.6x · quartiles 19.1x – 22.5xFSS, GM, OSK
- Dividend discount (DDM)35.74 – 48.07 (Mid 41.00)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 58.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 9.5% | 88 (vs peers) | 11% |
| FCF conversion · Quality | 110.3% | 100 (on a fixed band) | 11% |
| Revenue CAGR 3Y · Growth | -0.4% | 0 (on a fixed band) | 14% |
| EPS CAGR 3Y · Growth | -7.8% | 0 (on a fixed band) | 14% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 20.2x | 80 (vs peers) | 18% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 5.4% | 68 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | 2.6% | 37 (on a fixed band) | 11% |
| Payout ratio (FCF) · Returns | 47.7% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partialunavailable · 0/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality94/100 · 2/3 factors with a value
- Returns62/100 · 2/2 factors with a value
- Valuation75/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
PACCAR Inc (PCAR). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 28.4 bn USD in 2025; YoY growth -15.5%; net margin 9.5%; ROE 13.7%.
The estimated value range is 67.92–83.18 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 74.58 USD, the price of 106.16 USD leaves a potential of -29.7% (value / price − 1) and a margin of safety of -42.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 58.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 9.5%
- FCF conversion: 110.3%
- P/E (TTM): 20.2x
- Payout ratio (FCF): 47.7%
What contradicts it
- Revenue CAGR 3Y: -0.4%
- EPS CAGR 3Y: -7.8%
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, Current ratio, EV/EBITDA.
Versus the vertical median
Motor Vehicles & Passenger Car Bodies (SIC 3711) · same industry (4-digit SIC) · compared with 25 companies
The size band was not applied: too few companies would have remained; the vertical includes much smaller or larger companies.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| TSLATesla, Inc. | 1,522.6 bn | 424.6 | 3.8% | 3.1% | −2.9% | −10% / +60% |
| GMGeneral Motors Company | 78.0 bn | 20.6 | 6.1% | 2.1% | −1.3% | +26% / +192% |
| PCARPACCAR Inc | 55.9 bn | 20.2 | 13.7% | 9.5% | −15.5% | +10% / +22% |
| LILi Auto Inc. | 23.5 bn | 144.8 | 1.6% | 1.0% | −18.8% | −37% / −69% |
| RIVNRivian Automotive, Inc. | 20.5 bn | — | -55.0% | -45.9% | +8.4% | −17% / −16% |
| OSKOshkosh Corporation | 8.7 bn | 17.5 | 11.0% | 4.6% | −2.9% | +12% / +47% |
| NIONIO Inc. | 8.2 bn | — | -302.6% | -17.1% | +38.9% | −40% / −55% |
| VFSVinFast Auto Ltd. | 7.8 bn | — | — | -175.5% | +54.7% | +2% / −61% |
| FSSFederal Signal Corporation | 7.2 bn | 24.5 | 20.5% | 11.7% | +17.1% | +3% / +71% |
| LCIDLucid Group, Inc. | 1.3 bn | — | -571.4% | -249.2% | +67.6% | −75% / −92% |
| LOTLotus Technology Inc. | 217.2 m | — | — | -89.4% | −43.8% | −75% / −97% |
| NIUNiu Technologies | 115.3 m | — | -4.4% | -0.9% | +36.7% | −49% / −24% |
| GGRGogoro Inc. | 45.7 m | — | -56.2% | -28.4% | −9.4% | −23% / −94% |
| WKHSWorkhorse Group Inc. | 36.2 m | — | — | -301.5% | +201.1% | −69% / −100% |
| DCXDigital Currency X Technology Inc. | 21.5 m | — | — | -434.9% | −27.1% | −100% / −100% |
| FFAIFaraday Future Intelligent Electric Inc. | 12.2 m | — | -2,030.5% | -21,838.0% | −0.6% | −100% / −100% |
| FLYEFly-E Group, Inc. | 2.8 m | — | -82.2% | -67.9% | −25.0% | −62% / unavailable |
| CENNCenntro Inc. | 434.8 k | — | -126.6% | -423.9% | −42.2% | −98% / −100% |
| FFord Motor Co | — | — | -18.4% | -4.2% | +1.2% | −5% / +23% |
| RACEFerrari N.V. | — | — | 42.9% | 22.3% | +7.0% | +10% / +20% |
| STLAStellantis N.V. | — | — | -33.0% | -14.5% | −2.1% | −56% / −79% |
| HMCHonda Motor Co., Ltd. | — | — | 6.7% | 3.9% | +6.2% | +16% / +15% |
| XPEVXpeng Inc. | — | — | -7.9% | -46.7% | unavailable | −55% / −41% |
| AIIORobo.ai Inc. | — | — | — | -17,614.9% | −92.1% | −96% / −100% |
| TMToyota Motor Corp | — | — | 13.6% | 9.9% | +6.5% | −1% / +5% |
1- and 3-year price returns: for PCAR from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 59.62 Total return -42% · Per year -42% | 105.66 Total return 2% · Per year 2% | 159.52 Total return 53% · Per year 53% |
| 3 years | 52.26 Total return -45% · Per year -18% | 104.74 Total return 6% · Per year 2% | 174.41 Total return 74% · Per year 20% |
| 5 years | 45.81 Total return -48% · Per year -12% | 103.83 Total return 11% · Per year 2% | 190.70 Total return 97% · Per year 14% |
- Exit P/E± 26.19
- Net margin± 18.33
- Annual revenue growth± 15.79
- Annual dilution± 1.54
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 10-Q (28 Oct 2026), 8-K (27 Oct 2026 · results).
In brief
PACCAR designs, manufactures and distributes heavy, medium and light commercial trucks under the Kenworth, Peterbilt and DAF nameplates, complemented by aftermarket parts and financial services. The company reported revenues of 28.44 billion USD in 2025, down from the prior year, but its second-quarter 2026 results point to a recovery in demand. The figures show the business remains sensitive to the economic cycle and to tariffs.
SWOT
Strengths
- The Kenworth, Peterbilt and DAF brands are internationally recognized, and the company maintains a strong balance sheet and high credit ratings. The dealer network and parts centers provide broad coverage across several continents.
- Local production in the United States, Canada and Mexico reduces tariff exposure, and the financial arm supports sales through financing and leasing.
Weaknesses
- Truck demand is highly sensitive to the economic cycle, and truck segment margins fell sharply in 2025.
- The company depends on a few key suppliers for engines, transmissions and axles, and a supply interruption would affect production.
- The financial services segment carries significant credit risk and exposure to used truck prices, which tend to fall in economic downturns.
Opportunities
- The ageing fleet in the United States and Canada could drive replacement demand, and higher freight rates could support customers' activity.
- Growth in parts and service sales, together with the expansion of distribution centers, could bring more stable revenue than truck production alone.
- Developing hybrid and electric powertrains could open new markets if regulation and infrastructure support the transition.
Threats
- Tariff policy changes in the United States could reduce orders and pressure margins, especially for imported trucks.
- Emissions regulation and European litigation could generate unexpected costs, as the 2025 charge showed.
- A deterioration of the economy could increase defaults in the financial segment and reduce new lending volume.
Risks
- Cyclical demandhigh
Truck sales depend on the global economy and customers' ability to finance purchases, and a slowdown could significantly reduce delivery volumes.
- Tariffs and international tradehigh
Trade policies and tariffs can change costs and competitiveness, and new decisions could affect results, especially in the US market.
- Litigation and sanctions in Europemedium
The company recorded a one-off cost tied to civil litigation in Europe, and similar proceedings could generate further expenses if comparable claims arise.
- Credit risk in financingmedium
The Financial Services segment could suffer losses if customers or dealers fail to meet their obligations, particularly when used truck values decline.
- Cybersecurity and technologylow
IT systems and vehicle telematics could be disrupted by attacks or errors, which could affect customer data and the company's reputation.
Investment thesis
What would need to be true (bull case)
- If freight markets keep improving, truck and parts activity could recover quickly, supported by the ageing fleet and better freight rates.
- The parts and service business could keep delivering steady profit, and the global dealer network could support revenue growth.
- A strong balance sheet and good credit ratings could let the company invest in new technologies without compromising its financial activity.
What would break the thesis
- If truck demand stays below prior levels, margins in the core segment could keep falling, weighing on total profit.
- New tariffs and regulations could raise costs and reduce competitiveness against producers with larger local capacity.
- A recession could lead to more defaults in the financial segment and lower used truck prices, hurting profitability.
What to watch
- Final EPA decision on the July 2026 NPRM and its effect on warranty requirements2027
- Credit quality of the Financial Services portfolio and loss provisions as freight conditions evolveQ4 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 10-Q (28 Oct 2026), 8-K (27 Oct 2026 · results).
The business
The company holds a broad patent portfolio and internationally recognized brands, and its research and development spending is tied to product cycles and emissions rules. Its operations are subject to strict safety and environmental standards in every country where it operates.
Segments
Parts
The parts segment accounted for 24% of fiscal 2025 revenues and remained stable, with higher sales in the United States, Canada and Europe. The company expects parts sales to grow in 2026, depending on economic conditions.
Trends
- Trade tariffsmixed
US tariffs weighed on orders and margins in 2025, and the company partly absorbed costs through local production. The Supreme Court decision invalidating IEEPA tariffs could ease pressure if tariffs are not reintroduced through other mechanisms.
- Emissions regulationmixed
EPA and European CO2 rules raise development and manufacturing costs, but the July 2026 proposal to reaffirm NOx limits could reduce warranty and useful life burdens. The final effect depends on the definitive form of the rule.
- Freight market recoverytailwind
Higher freight rates and an ageing fleet could encourage truck replacement and boost parts and service activity. If the economy weakens, demand could fall again.
Competitive position
The company competes in North America with four principal competitors and in Europe with six, many of them subsidiaries of large groups. Competition runs on price, quality and service, and competitive pressure lowered average selling prices in 2025.
In financing, PACCAR Financial Services competes with commercial banks and independent leasing companies, which may have lower borrowing costs. In parts, the company's advantage comes from its dealer network and global distribution.
- Daimler Truck
Principal competitor in the heavy truck segment in North America and Europe, cited among the four US and Canadian competitors.
- Volvo Group
European and North American heavy truck competitor, part of the group of six competitors in Europe.
- Navistar
North American commercial truck maker, named among the principal competitors in the US and Canadian market.
- Commercial banks and independent leasing companies
Competitors for financial services that may offer lower funding costs and more competitive interest rates.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Is PACCAR Stock Outperforming the S&P 500?Yahoo Finance — News · 07 Sept 2026 · EN
The latest news item in our archive is from 07 Sept 2026; the newest SEC filing is from 28 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report28 Oct 2026
- Current report27 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report29 Jul 2026
- Current report28 Jul 2026Results of operations · Financial statements and exhibits
- Current report01 May 2026Departure or appointment of officers · Shareholder vote
- Quarterly report29 Apr 2026
- Current report28 Apr 2026Results of operations · Financial statements and exhibits
- Proxy statement18 Mar 2026
- Annual report18 Feb 2026
- Current report27 Jan 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / PACCAR Inc · 18 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / PACCAR Inc · 29 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / PACCAR Inc · 28 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.