# PACCAR Inc (PCAR)

> Source: Nexqual · https://nexqual.com/PCAR · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, PACCAR Inc (PCAR), nexqual.com/PCAR" · informational, not investment advice.

**Price:** USD 109.59 (-0.57% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 110.22 · day 108.25–109.96 · 52w 93.86–139.24 · market cap $57.7B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $27.8B, net income $2.50B (9.0% margin), free cash flow $3.70B (SEC filings).
- Valuation: P/E 23.0x (avg 16.2x at the last 3 fiscal year-ends).
- 1 of 80 tracked superinvestors hold PCAR (13F, Q2 2026): 0 new, 0 added, 0 reduced, 1 unchanged.
- Analysts: Buy (mean 2.37 on a 1–5 scale) (19 analysts), mean target USD 133.38 (range 107–162).
- Total return with dividends: 1Y +13.0% vs S&P 500 +14.9%; 5Y +127.0% vs S&P 500 +80.3%.
- Next earnings: 2026-10-27, EPS estimate USD 1.6, revenue estimate $7.54B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $23.5B | $28.8B | $35.1B | $33.7B | $28.4B | $27.8B |
| Gross profit | — | $5.53B | $8.23B | $7.59B | $5.71B | — |
| Net income | $1.87B | $3.01B | $4.60B | $4.16B | $2.38B | $2.50B |
| EPS (diluted) | $3.57 | $5.75 | $8.76 | $7.90 | $4.51 | — |
| Free cash flow | $1.63B | $2.50B | $3.50B | $3.80B | $3.67B | $3.70B |
| Gross margin | — | 19.2% | 23.4% | 22.6% | 20.1% | — |
| Net margin | 7.9% | 10.4% | 13.1% | 12.4% | 8.4% | 9.0% |
| Revenue growth | +25.6% | +22.5% | +21.9% | -4.2% | -15.5% | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 23.0x · P/S 2.1x · P/FCF 15.6x · P/B 2.8x · FCF yield 6.41% · Earnings yield 4.34% · Dividend yield (paid, TTM) 2.50% · Buyback yield (TTM) 0.01%
P/E at fiscal year-ends: Dec 2025 24.3x, Dec 2024 13.2x, Dec 2023 11.1x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold PCAR. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Bill Gates | Gates Foundation Trust | 0.35% | $120M | Unchanged |

## Analysts
Consensus Buy (mean 2.37 on a 1–5 scale), 19 analysts; mean target USD 133.38 (low 107, high 162).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | Citigroup | Target lowered | Neutral | $140 → $115 |
| 2026-10-08 | JP Morgan | Target lowered | Overweight | $164 → $142 |
| 2026-10-08 | Wells Fargo | Target lowered | Equal-Weight | $157 → $122 |
| 2026-10-05 | Truist Securities | Target lowered | Hold | $139 → $125 |
| 2026-09-10 | RBC Capital | Upgrade | Sector Perform → Outperform | $130 → $150 |
| 2026-09-04 | Morgan Stanley | Target raised | Equal-Weight | $119 → $125 |
| 2026-08-11 | Evercore ISI Group | Target raised | Outperform | $139 → $162 |
| 2026-07-30 | Citigroup | Target raised | Neutral | $125 → $140 |
| 2026-07-30 | Wells Fargo | Target raised | Equal-Weight | $125 → $157 |
| 2026-07-29 | JP Morgan | Target raised | Overweight | $155 → $164 |
| 2026-07-17 | Morgan Stanley | Target raised | Equal-Weight | $109 → $113 |
| 2026-07-13 | JP Morgan | Target raised | Overweight | $140 → $155 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +13.0% | +127.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +13.0% | +17.8% |
| Volatility (annualized) | 26.7% | 24.2% |
| Max drawdown | -22.5% (Jul 2026→Oct 2026) | -25.9% (Mar 2024→Apr 2025) |

## Peers (Farm & Heavy Construction Machinery)
DE (Deere & Company) USD 643.62 +1.11% · CNH (CNH Industrial N.V.) USD 11.58 +0.52% · CAT (Caterpillar, Inc.) USD 704.05 -4.89% · OSK (Oshkosh Corporation (Holding Co) USD 134.29 -0.91% · AGCO (AGCO Corporation) USD 106.17 +0.90% · FSS (Federal Signal Corporation) USD 115.54 -0.99%

## More
Full page: https://nexqual.com/PCAR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name PCAR in their own reports (relationship from PCAR's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| supplier | CORE MOLDING TECHNOLOGIES INC (CMT) | 10-K 2026-03-10 | "The Company had five major customers during the years ended December 31, 2025, 2024, and 2023, BRP, Inc. ("BRP"), International Motors, LLC ("International"), PACCAR, Inc. ("PACCAR"), Volvo Group Nort…" |
| supplier | Mayville Engineering Company, Inc. (MEC) | 10-K 2026-03-04 | "For example, our largest customers in 2025 included PACCAR Inc. and John Deere which accounted for 13.6% and 10.0% of our net sales, respectively." |
| supplier | DANA Inc (DAN) | 10-K 2026-02-27 | "Toyota Motor Corporation, Volkswagen AG (including Traton SE), and PACCAR, Inc. were our third, fourth and fifth largest customers in 2025." |
| partner | RUSH ENTERPRISES INC \TX\ (RUSHA) | 10-K 2026-02-25 | "In July 2023, CARB and various manufacturers of heavy-duty commercial vehicles and engines, including PACCAR, International, Ford, Hino, Isuzu and Cummins, entered into the Clean Truck Partnership, wh…" |
| supplier | Allison Transmission Holdings Inc (ALSN) | 10-K 2026-02-24 | "Our top three customers, Daimler AG, PACCAR Inc. and Traton SE, accounted for approximately 18%, 11% and 10%, respectively, of our net sales during 2025." |
| supplier | CUMMINS INC (CMI) | 10-K 2026-02-10 | "The principal customers of our heavy-duty truck engines include truck manufacturers such as PACCAR Inc. (PACCAR), Traton Group (Traton) and Daimler Trucks AG (Daimler)." |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Truck Parts & Other | $7.15B | 94.8% | +1.0% |
| Financial Services | $549.7M | 7.3% | +0.4% |
| Total revenue | $7.55B | 100% | — |
The lines above cover 102% of total revenue.

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $15.43B | 54.2% | -17.3% |
| Europe | $6.95B | 24.4% | -0.2% |
| Other Countries | $6.07B | 21.3% | -24.5% |
| Total revenue | $28.44B | 100% | — |

## Company outlook (8-K filed 2026-07-28)

- "PACCAR invested $138.7 million in capital projects and $114.3 million in research and development expenses in the second quarter of 2026."
- "Brice Poplawski, senior vice president and chief financial officer, said, "Capital expenditures are projected to be in the range of $700-$750 million and research and development expenses are estimated to be in the range $450-$480 million in 2026."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.60 | $1.53 | +4.5% | $7.54B | 12 |
| Next quarter (ends 2026-12-31) | $1.75 | $1.67 | +5.1% | $7.82B | 10 |
| Current fiscal year (ends 2026-12-31) | $5.95 | $5.73 | +3.9% | $28.65B | 14 |
| Next fiscal year (ends 2027-12-31) | $7.13 | $6.81 | +4.7% | $31.54B | 14 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-27): ±8.0%; last 8 reports averaged ±3.5%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 32.2% | ±8.0% |
| 2026-12-18 | 56 | 28.0% | ±8.8% |
| 2027-01-15 | 84 | 30.0% | ±11.5% |
| 2027-02-19 | 119 | 31.1% | ±14.2% |
| 2027-03-19 | 147 | 29.0% | ±14.7% |
| 2027-05-21 | 210 | 29.9% | ±18.0% |
| 2027-06-17 | 237 | 29.2% | ±18.7% |
| 2027-09-17 | 329 | 30.2% | ±22.6% |