PACCAR Inc (PCAR) 10-Year Financial Performance & Capital Metrics

PCAR • • Industrial / General

IndustrialsAgricultural MachineryTransportation & Vehicle EquipmentCommercial Vehicles & Trailers

AboutPACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods. It sells its trucks through a network of independent dealers under the Kenworth, Peterbilt, and DAF nameplates. The Parts segment distributes aftermarket parts for trucks and related commercial vehicles. The Financial Services segment conducts full-service leasing operations under the PacLease trade name, as well as provides finance and leasing products and services to customers and dealers. This segment also offers equipment financing and administrative support services for its franchisees; retail loan and leasing services for small, medium, and large commercial trucking companies, as well as independent owners/operators and other businesses; and truck inventory financing services to independent dealers. In addition, this segment offers loans and leases directly to customers for the acquisition of trucks and related equipment. The company also manufactures and markets industrial winches under the Braden, Carco, and Gearmatic nameplates. PACCAR Inc was founded in 1905 and is headquartered in Bellevue, Washington.Show more

Revenue $33.65B -4.3%
EBITDA $6.02B -13.5%
Net Income $4.16B -9.5%
EPS (Diluted) 7.90 -9.8%
Gross Margin 18.94% -8.2%
EBITDA Margin 17.89% -9.6%
Operating Margin 15.16% -12.0%
Net Margin 12.37% -5.5%
ROE 24.93% -21.3%
ROIC 15.49% -26.3%
Debt/Equity 0.91 +0.3%
Interest Coverage 164.05 -86.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 27.0%
✓Healthy dividend yield of 3.6%
✓Healthy 5Y average net margin of 10.2%
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.88%

5Y5.6%

3Y12.65%

TTM-19.99%

Profit (Net Income) CAGR

10Y11.84%

5Y11.75%

3Y30.67%

TTM-42.84%

EPS CAGR

10Y12.02%

5Y11.52%

3Y30.31%

TTM-42.91%

ROCE

10Y Avg14.75%

5Y Avg15.21%

3Y Avg19.05%

Latest17.45%

Peer Comparison

Commercial Vehicles & Trailers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
REVGREV Group, Inc.	3.35B	68.55	36.27	3.5%	4.51%	27.89%	5.68%	0.13
PCARPACCAR Inc	64.03B	121.92	15.43	-4.29%	9.65%	13.89%	4.52%	0.91
OSKOshkosh Corporation	9.7B	153.36	14.77	11.1%	6.45%	14.68%	2.77%	0.23
XOSXos, Inc.	25.39M	2.24	-0.33	25.69%	-66.13%	-111.23%		1.28
WNCWabash National Corporation	439.61M	10.85	-1.70	-23.25%	15.89%	61.98%	10.26%	2.28

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	19.11B	17B	19.47B	23.5B	25.62B	18.72B	23.54B	28.84B	35.16B	33.65B
Revenue Growth %	0.01%	-0.11%	0.14%	0.21%	0.09%	-0.27%	0.26%	0.23%	0.22%	-0.04%
Cost of Goods Sold+	16.03B	14.27B	16.34B	19.98B	21.57B	16.18B	20.26B	24.09B	27.91B	27.28B
COGS % of Revenue	0.84%	0.84%	0.84%	0.85%	0.84%	0.86%	0.86%	0.84%	0.79%	0.81%
Gross Profit+	3.09B	2.73B	3.13B	3.52B	4.06B	2.55B	3.28B	4.74B	7.25B	6.37B
Gross Margin %	0.16%	0.16%	0.16%	0.15%	0.16%	0.14%	0.14%	0.16%	0.21%	0.19%
Gross Profit Growth %	0.12%	-0.11%	0.15%	0.12%	0.15%	-0.37%	0.29%	0.45%	0.53%	-0.12%
Operating Expenses+	796M	804M	858.3M	965.6M	1.04B	883.3M	1B	1.07B	1.2B	1.27B
OpEx % of Revenue	0.04%	0.05%	0.04%	0.04%	0.04%	0.05%	0.04%	0.04%	0.03%	0.04%
Selling, General & Admin	556.2M	556.8M	593.6M	659.5M	713.8M	609.4M	677.3M	731.8M	784.6M	819.6M
SG&A % of Revenue	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.02%	0.02%
Research & Development	239.8M	247.2M	264.7M	306.1M	326.6M	273.9M	324.1M	341.2M	410.9M	452.9M
R&D % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	2.29B	1.93B	2.27B	2.56B	3.02B	1.66B	2.28B	3.67B	6.06B	5.1B
Operating Margin %	0.12%	0.11%	0.12%	0.11%	0.12%	0.09%	0.1%	0.13%	0.17%	0.15%
Operating Income Growth %	0.16%	-0.16%	0.18%	0.12%	0.18%	-0.45%	0.37%	0.61%	0.65%	-0.16%
EBITDA+	3.2B	2.92B	3.38B	3.61B	3.94B	2.56B	3.15B	4.48B	6.96B	6.02B
EBITDA Margin %	0.17%	0.17%	0.17%	0.15%	0.15%	0.14%	0.13%	0.16%	0.2%	0.18%
EBITDA Growth %	0.1%	-0.09%	0.16%	0.07%	0.09%	-0.35%	0.23%	0.42%	0.55%	-0.14%
D&A (Non-Cash Add-back)	907.1M	993.1M	1.11B	1.05B	927.6M	901.5M	867.8M	807.1M	903.6M	916.9M
EBIT	2.35B	1.14B	2.17B	2.81B	3.05B	1.66B	2.4B	3.84B	5.72B	5.43B
Net Interest Income+	6.3M	28.5M	83.3M	126.8M	81.9M	33.5M	9.3M	59.4M	283.5M	360.6M
Interest Income	19.7M	38.8M	85M	126.8M	81.9M	33.5M	13.4M	59.4M	288.6M	391.7M
Interest Expense	13.4M	10.3M	1.7M	0	0	0	4.1M	0	5.1M	31.1M
Other Income/Expense	46M	-799.1M	-100.6M	253.3M	84.2M	-4.5M	114.4M	177M	-337.5M	299.1M
Pretax Income+	2.34B	1.13B	2.17B	2.81B	3.1B	1.66B	2.4B	3.85B	5.72B	5.4B
Pretax Margin %	0.12%	0.07%	0.11%	0.12%	0.12%	0.09%	0.1%	0.13%	0.16%	0.16%
Income Tax+	733.1M	608.7M	498.1M	615.1M	711.3M	359.5M	530.8M	837.1M	1.12B	1.24B
Effective Tax Rate %	0.69%	0.46%	0.77%	0.78%	0.77%	0.78%	0.78%	0.78%	0.8%	0.77%
Net Income+	1.6B	521.7M	1.68B	2.2B	2.39B	1.3B	1.87B	3.01B	4.6B	4.16B
Net Margin %	0.08%	0.03%	0.09%	0.09%	0.09%	0.07%	0.08%	0.1%	0.13%	0.12%
Net Income Growth %	0.18%	-0.67%	2.21%	0.31%	0.09%	-0.46%	0.43%	0.61%	0.53%	-0.1%
Net Income (Continuing)	1.6B	521.7M	1.68B	2.2B	2.39B	1.3B	1.87B	3.01B	4.6B	4.16B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	3.01	0.99	3.16	4.16	4.58	2.49	3.57	5.75	8.76	7.90
EPS Growth %	0.19%	-0.67%	2.19%	0.32%	0.1%	-0.46%	0.43%	0.61%	0.52%	-0.1%
EPS (Basic)	3.02	0.99	3.17	4.17	4.59	2.50	3.58	5.76	8.78	7.92
Diluted Shares Outstanding	533.4M	527.7M	529.35M	527.7M	521.25M	521.1M	522.6M	523.35M	525M	526.6M
Basic Shares Outstanding	531.9M	526.65M	527.85M	526.5M	520.35M	520.2M	521.7M	522.6M	523.9M	525.3M
Dividend Payout Ratio	0.42%	1.59%	0.33%	0.37%	0.48%	0.95%	0.38%	0.33%	0.33%	0.55%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	14.69B	13.71B	15.89B	18.16B	20.27B	19.72B	21.19B	24.9B	32.03B	34.21B
Cash & Short-Term Investments	3.46B	3.06B	3.73B	4.46B	5.34B	4.97B	4.99B	6.31B	9B	9.84B
Cash Only	2.02B	1.92B	2.36B	3.44B	4.18B	3.54B	3.43B	4.69B	7.18B	7.06B
Short-Term Investments	1.45B	1.14B	1.37B	1.02B	1.16B	1.43B	1.56B	1.61B	1.82B	2.78B
Accounts Receivable	10.18B	862.2M	1.13B	1.31B	1.31B	13.02B	13.5B	15.71B	19.77B	21.25B
Days Sales Outstanding	194.44	18.51	21.15	20.41	18.61	253.77	209.27	198.85	205.24	230.47
Inventory	796.5M	727.8M	928.4M	1.18B	1.15B	1.22B	1.98B	2.2B	2.58B	2.37B
Days Inventory Outstanding	18.14	18.61	20.74	21.64	19.52	27.57	35.61	33.31	33.7	31.67
Other Current Assets	245.7M	225.6M	404.4M	364.7M	388M	515.6M	732.9M	682M	680.6M	751.2M
Total Non-Current Assets+	6.42B	6.93B	7.55B	7.32B	8.09B	8.54B	8.32B	8.38B	8.79B	9.21B
Property, Plant & Equipment	5.55B	5.9B	6.61B	6.12B	6.53B	6.86B	6.59B	6.27B	6.08B	5.95B
Fixed Asset Turnover	3.44x	2.88x	2.95x	3.84x	3.92x	2.73x	3.57x	4.60x	5.78x	5.66x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	871.1M	1.03B	944.2M	1.2B	1.56B	1.68B	1.73B	2.11B	2.71B	3.27B
Total Assets+	21.11B	20.64B	23.44B	25.48B	28.36B	28.26B	29.51B	33.28B	40.82B	43.42B
Asset Turnover	0.91x	0.82x	0.83x	0.92x	0.90x	0.66x	0.80x	0.87x	0.86x	0.78x
Asset Growth %	0.02%	-0.02%	0.14%	0.09%	0.11%	-0%	0.04%	0.13%	0.23%	0.06%
Total Current Liabilities+	5.54B	4.88B	6.18B	7.5B	8.42B	7.33B	8.1B	9.58B	12.81B	12.97B
Accounts Payable	1.29B	1.33B	1.62B	1.83B	1.74B	1.74B	2.02B	2.49B	2.66B	2.71B
Days Payables Outstanding	29.3	34.11	36.22	33.4	29.53	39.19	36.36	37.75	34.79	36.2
Short-Term Debt	2.62B	2.24B	2.72B	3.26B	3.8B	3.11B	3.03B	3.27B	5.07B	5.48B
Deferred Revenue (Current)	1000K	1000K	0	0	0	0	0	0	0	0
Other Current Liabilities	-419.7M	-516.2M	654.4M	729.8M	1.07B	1.24B	1.37B	1.47B	1.85B	1.71B
Current Ratio	2.65x	2.81x	2.57x	2.42x	2.41x	2.69x	2.62x	2.60x	2.50x	2.64x
Quick Ratio	2.51x	2.66x	2.42x	2.26x	2.27x	2.52x	2.37x	2.37x	2.30x	2.45x
Cash Conversion Cycle	183.28	3.01	5.67	8.66	8.6	242.14	208.51	194.41	204.15	225.94
Total Non-Current Liabilities+	8.63B	8.98B	9.21B	9.39B	10.24B	10.54B	9.81B	10.53B	12.13B	12.94B
Long-Term Debt	5.97B	6.23B	6.16B	6.69B	7.43B	7.74B	7.41B	8.21B	9.17B	10.41B
Capital Lease Obligations	1.05B	1.07B	1.34B	842.4M	587.3M	457.4M	329.1M	209.2M	142.6M	0
Deferred Tax Liabilities	889.1M	934.9M	773.7M	704.9M	790.2M	854.6M	590.4M	624.4M	0	0
Other Non-Current Liabilities	-327.2M	-333.5M	-399.2M	303.3M	847.8M	1.03B	1.16B	1.28B	2.68B	2.45B
Total Liabilities	14.17B	13.86B	15.39B	16.89B	18.66B	17.87B	17.92B	20.11B	24.94B	25.91B
Total Debt+	9.64B	9.55B	10.22B	10.79B	11.81B	11.31B	10.76B	11.68B	14.38B	15.89B
Net Debt	7.62B	7.63B	7.85B	7.36B	7.63B	7.77B	7.33B	6.99B	7.2B	8.83B
Debt / Equity	1.39x	1.41x	1.27x	1.26x	1.22x	1.09x	0.93x	0.89x	0.91x	0.91x
Debt / EBITDA	3.01x	3.27x	3.02x	2.99x	3.00x	4.41x	3.42x	2.61x	2.07x	2.64x
Net Debt / EBITDA	2.38x	2.61x	2.32x	2.04x	1.94x	3.03x	2.33x	1.56x	1.03x	1.47x
Interest Coverage	170.98x	187.33x	1337.59x	-	-	-	556.56x	-	1187.39x	164.05x
Total Equity+	6.94B	6.78B	8.05B	8.59B	9.71B	10.42B	11.59B	13.17B	15.88B	17.51B
Equity Growth %	0.03%	-0.02%	0.19%	0.07%	0.13%	0.07%	0.11%	0.14%	0.21%	0.1%
Book Value per Share	13.01	12.84	15.21	16.28	18.62	19.99	22.19	25.16	30.25	33.25
Total Shareholders' Equity	6.94B	6.78B	8.05B	8.59B	9.71B	10.42B	11.59B	13.17B	15.88B	17.51B
Common Stock	351.3M	350.7M	351.8M	346.6M	346.3M	346.6M	347.3M	522M	523.3M	524.4M
Retained Earnings	7.54B	7.48B	8.37B	9.28B	10.4B	11.01B	12.03B	13.4B	15.78B	17.75B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-1.02B	-1.13B	-793.6M	-1.1B	-1.1B	-1.05B	-921.1M	-953.4M	-693.9M	-1.11B
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	2.56B	2.3B	2.72B	2.99B	2.86B	2.99B	2.19B	3.03B	4.19B	4.64B
Operating CF Margin %	0.13%	0.14%	0.14%	0.13%	0.11%	0.16%	0.09%	0.1%	0.12%	0.14%
Operating CF Growth %	0.2%	-0.1%	0.18%	0.1%	-0.04%	0.04%	-0.27%	0.38%	0.38%	0.11%
Net Income	1.6B	521.7M	1.68B	2.2B	2.39B	1.3B	1.87B	3.01B	4.6B	4.16B
Depreciation & Amortization	907.1M	993.1M	1.11B	1.05B	1.08B	1.05B	903.3M	790.2M	923.9M	916.9M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	-55.2M	30.9M	-173.9M	17.5M	70.8M	400K	-208.6M	-208M	-303.7M	-79.3M
Other Non-Cash Items	-3.9M	-137M	-4.7M	-37.3M	6.3M	-135.7M	-4.3M	-19.7M	50.5M	61.1M
Working Capital Changes	104M	892.1M	111.7M	-237.1M	-682M	772.3M	-369.2M	-547.1M	-1.08B	-419.8M
Change in Receivables	-174.7M	455.9M	-465.7M	-811.4M	-592.5M	993M	-322.1M	-1.38B	-1.7B	-321.8M
Change in Inventory	64.3M	64.1M	-149.9M	-332.7M	24.6M	-51.9M	-628M	-272.7M	-350.7M	42.5M
Change in Payables	-162.6M	-8.6M	333.6M	528.9M	-27.6M	-53.6M	0	0	0	279.4M
Cash from Investing+	-1.97B	-1.56B	-1.96B	-1.93B	-2.21B	-1.88B	-1.36B	-2.03B	-2.87B	-4.49B
Capital Expenditures	-1.73B	-1.96B	-1.85B	-1.95B	-1.97B	-1.64B	-1.63B	-1.39B	-1.26B	-1.75B
CapEx % of Revenue	0.09%	0.12%	0.09%	0.08%	0.08%	0.09%	0.07%	0.05%	0.04%	0.05%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	44.6M	127.7M	72.8M	-294M	-739.6M	7.2M	446.2M	-1.88B	-1.44B	-1.78B
Cash from Financing+	-196.5M	-823.5M	-393.8M	71.1M	83.4M	-1.81B	-882.9M	304.9M	1.1B	-123.1M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-680.5M	-829.3M	-558.3M	-804.3M	-1.14B	-1.24B	-708M	-1B	-1.52B	-2.29B
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	21.8M	29.4M	39.3M	19.3M	60.8M	53.7M	37.5M	35.7M	51.5M	51.9M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	830.8M	335.9M	869.2M	1.04B	889.5M	1.35B	553.9M	1.64B	2.93B	2.9B
FCF Margin %	0.04%	0.02%	0.04%	0.04%	0.03%	0.07%	0.02%	0.06%	0.08%	0.09%
FCF Growth %	0.42%	-0.6%	1.59%	0.2%	-0.14%	0.52%	-0.59%	1.95%	0.79%	-0.01%
FCF per Share	1.56	0.64	1.64	1.97	1.71	2.59	1.06	3.13	5.58	5.50
FCF Conversion (FCF/Net Income)	1.59x	4.41x	1.62x	1.36x	1.20x	2.30x	1.17x	1.01x	0.91x	1.12x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	23.43%	7.61%	22.59%	26.38%	26.1%	12.93%	16.95%	24.33%	31.68%	24.93%
Return on Invested Capital (ROIC)	11.94%	9.99%	11.25%	12.04%	13.58%	7.02%	9.22%	14.09%	21.01%	15.49%
Gross Margin	16.15%	16.07%	16.09%	14.99%	15.83%	13.6%	13.95%	16.45%	20.62%	18.94%
Net Margin	8.39%	3.07%	8.6%	9.34%	9.32%	6.95%	7.93%	10.44%	13.09%	12.37%
Debt / Equity	1.39x	1.41x	1.27x	1.26x	1.22x	1.09x	0.93x	0.89x	0.91x	0.91x
Interest Coverage	170.98x	187.33x	1337.59x	-	-	-	556.56x	-	1187.39x	164.05x
FCF Conversion	1.59x	4.41x	1.62x	1.36x	1.20x	2.30x	1.17x	1.01x	0.91x	1.12x
Revenue Growth	0.62%	-11.04%	14.49%	20.71%	9.02%	-26.92%	25.71%	22.52%	21.92%	-4.29%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Truck Parts And Other	17.94B	15.85B	18.19B	22.14B	24.12B	17.15B	21.83B	27.31B	33.32B	32.08B
Truck Parts And Other Growth	-	-11.68%	14.77%	21.72%	8.95%	-28.88%	27.28%	25.10%	21.97%	-3.72%
Financial Services	1.17B	1.19B	1.27B	1.36B	-	-	-	-	-	2.1B
Financial Services Growth	-	1.23%	6.93%	6.95%	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	11.41B	9.22B	10.53B	13.17B	15.12B	10.53B	12.39B	15.38B	18.84B	18.66B
UNITED STATES Growth	-	-19.17%	14.19%	25.03%	14.84%	-30.38%	17.69%	24.14%	22.51%	-0.94%
Other Countries	3.19B	2.91B	3.57B	4.26B	4.38B	3.33B	4.81B	5.95B	7.54B	8.04B
Other Countries Growth	-	-8.84%	22.79%	19.22%	2.76%	-23.88%	44.36%	23.83%	26.71%	6.53%
Europe	4.52B	4.9B	5.35B	6.07B	6.1B	4.87B	6.33B	7.49B	8.74B	6.96B
Europe Growth	-	8.58%	9.20%	13.40%	0.54%	-20.21%	29.85%	18.36%	16.76%	-20.35%

Frequently Asked Questions

Valuation & Price

PACCAR Inc (PCAR) has a price-to-earnings (P/E) ratio of 15.4x. This is roughly in line with market averages.

Growth & Financials

PACCAR Inc (PCAR) reported $27.88B in revenue for fiscal year 2024. This represents a 70% increase from $16.36B in 2011.

PACCAR Inc (PCAR) saw revenue decline by 4.3% over the past year.

Yes, PACCAR Inc (PCAR) is profitable, generating $2.69B in net income for fiscal year 2024 (12.4% net margin).

Dividend & Returns

Yes, PACCAR Inc (PCAR) pays a dividend with a yield of 3.56%. This makes it attractive for income-focused investors.

PACCAR Inc (PCAR) has a return on equity (ROE) of 24.9%. This is excellent, indicating efficient use of shareholder capital.

PACCAR Inc (PCAR) generated $3.19B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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