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PACCAR Inc. (PCAR)

NEUTRAL
IndustrialsFarm & Heavy Construction MachineryUnited States

Fundamental

60

Precio

$129.26

Capitalización Bursátil

$68.97B

Parte 1 · Cuánto vale la empresa

Resumen

PACCAR designs and manufactures heavy- and medium-duty trucks under the Kenworth, Peterbilt and DAF brand names, sold through a network of independent dealers across North America, Europe and other markets. Beyond building trucks, it also sells replacement parts to keep existing fleets running and lends money to dealers and truck buyers through its own finance arm, so a customer can buy a truck, service it and finance it all through PACCAR.

Cómo genera ingresos

Most revenue comes from selling new trucks outright to fleets and owner-operators, a business with thin margins that swings with how many trucks the industry orders each year. Parts sales are steadier and more profitable, since a truck already on the road needs maintenance regardless of the economic cycle, and the financial services arm earns interest income on loans and leases, adding a third, more stable stream on top of manufacturing.

Ingresos por segmento

Truck68.1%

Manufacture and sale of Kenworth, Peterbilt and DAF heavy- and medium-duty trucks, the core and most cyclical part of the business.

Parts24.2%

Replacement parts sold to keep the large existing fleet of PACCAR trucks running, a steadier and higher-margin business than new truck sales.

Financial Services7.8%

Loans and leases provided to dealers and truck buyers across North America, Europe, Australia and South America to finance PACCAR vehicles.

Ventaja competitiva

Escala · Estrecha

Building heavy trucks at scale requires an established dealer network, decades of engineering and emissions-compliance investment, and manufacturing capacity that a new entrant cannot assemble quickly, keeping the field limited to a handful of global players. That barrier protects PACCAR's position but does not remove genuine competition: Daimler Truck, Traton's Volvo and Scania brands, and Navistar all fight for the same fleet customers.

Qué impulsa la demanda

Cíclico

Truck orders follow the freight cycle closely: when shipping volumes and freight rates are strong, fleets replace and expand their trucks, and when freight demand softens, orders can fall sharply within a year, as PACCAR's own truck segment revenue decline in 2025 showed. Parts and financial services smooth this out somewhat, but the core manufacturing business remains genuinely cyclical.

Riesgos clave

  • Truck order cyclicality — Truck segment revenue fell 14% year over year in the fourth quarter of 2025 as freight market conditions weakened, illustrating how quickly the core business can contract in a downturn.
  • Competition from other global truck makers — Daimler Truck, Traton's Volvo, Scania and Navistar brands compete directly for the same fleet and owner-operator customers across PACCAR's core markets.
  • Emissions and regulatory compliance costs — Tightening emissions standards in North America and Europe require continual investment in new engine and powertrain technology, adding cost and execution risk to every truck generation.
  • Tariffs and global supply chain exposure — PACCAR sources components and sells trucks across multiple countries, so changes in tariffs or trade policy can raise costs or disrupt production and sales in a given region.
  • Credit risk in the finance arm — PACCAR Financial Services holds a large portfolio of loans and leases to truck buyers; a downturn that hurts trucking businesses broadly would also raise defaults on that portfolio.

Los argumentos a favor

Buyers argue that PACCAR Parts keeps delivering record, high-margin revenue that cushions the cyclical truck business, that decades of engineering and dealer relationships make the company one of only a handful of credible global heavy-truck makers, and that Financial Services adds a steady profit stream through the cycle.

Los argumentos en contra

Sellers worry that the core truck business is genuinely cyclical and already showing a double-digit revenue decline as freight markets soften, that emissions regulation keeps forcing costly technology investment, and that competition from Daimler Truck and Traton's brands limits pricing power in a downturn.

Written by the editors, published on 18 de agosto de 2026

Direct competitors

Who this company fights with for the same customers

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Balance y Liquidez

Ingresos

$27.82B

Últimos 12 meses (hasta 30/6/2026)

Beneficio Neto

$2.50B

Últimos 12 meses (hasta 30/6/2026)

Flujo de Caja Libre

$3.67B

Patrimonio Neto Total

$19.26B

Pasivo Total

$25.07B

Ratio de Liquidez

0.71

Cobertura de Intereses

-

Deuda/EBITDA

4.53

Beneficio Por Acción

Ingresos y Beneficio Neto

Flujo de Caja Libre

Desglose de Ingresos

Estado histórico

Márgenes en el tiempo

La deuda en el tiempo

Cuánto pesa la deuda

Cuadro de crecimiento

Crecimiento — Ingresos

Estimación de Valor Justo

Valoración Justa

Valor Justo

$131.22

Precio Actual

$129.26

Margen de Seguridad

+1.5%

Rango de Valor Justo

$95.71 - $166.74

Métodos de Estimación

Analyst Target:$141.03
DCF:$173.58
PE-based:$98.37
Graham Growth:$141.16
EPV:$53.54
Consenso de Analistas:Comprar (11B / 14H / 1S)
Última Sorpresa de Resultados:+3.53%

Métricas de Valoración

Ratio P/E

27.30

ROE

12.3%

Ratio P/B

3.37

P/FCF

18.50

Margen Bruto

20.0%

ROIC

-

Radar de Rentabilidad

Value Creation (Economic Moat)

ROIC

-

WACC

8.2%

ROIC − WACC

-

Criterios de Análisis Fundamental

Superado (14)

  • EPS shows upward trend
  • Price CAGR 11.89%
  • P/FCF 18.50
  • Debt/Equity ratio
  • Positive Free Cash Flow
  • CapEx intensity
  • Debt/EBITDA
  • Return on Tangible Assets
  • Low reliance on intangibles
  • ROE 12.7%
  • Revenue Growth 5Y 8.7%
  • Earnings Quality (OCF/NI) 1.73
  • Share Dilution -0.0%
  • Piotroski F-Score 5/9

Fallido (9)

  • EPS CAGR 1.77%
  • Gross Margin 20.0%
  • P/B Ratio 3.37
  • Price below Graham Number
  • DCF valuation (Overvalued)
  • Analyst Consensus 42% Buy
  • Earnings Surprise avg -1.5%
  • PEG Ratio 2.17
  • Net Margin Trend 9.0% vs 9.9%

No disponible (5)

  • ROIC NaN%
  • Dividend Payout NaN%
  • Operating Margin NaN%
  • Current Ratio
  • Interest Coverage

Piotroski F-Score

5/9

Señales mixtas: algunas áreas requieren atención

score
criteria

Calidad de los Beneficios

1.73

Alta calidad: beneficios respaldados por efectivo

Dilución de Acciones

0.0%

Recomprando acciones. Favorable para el accionista

Gobernanza

Equipo Directivo

NombreCargoEdad
Mr. R. Preston FeightCEO & Director57
Mr. Kevin D. BaneyPresident54
Mr. Brice J. PoplawskiSenior VP & CFO60
Mr. Mark C. PigottExecutive Chairman71
Mr. John N. RichExecutive VP & CTO55
Ms. A. Lily LeyVP & Chief Information Officer59
Mr. Ken HastingsSenior Director of Investor Relations-
Mr. Michael K. WaltonVP & General Counsel59
Paulo Henrique BolgarVP & Chief Human Resources Officer56
Laura J. BlochSenior Vice President47

Riesgo de Auditoría

2

Riesgo del Consejo

9

Riesgo de Compensación

4

Riesgo de Derechos del Accionista

5

Parte 2 · El precio y el momento de entrar

Esta parte no sirve para saber si la empresa vale: sirve para elegir cuándo comprarla, una vez que los fundamentales te han convencido. Dentro: análisis técnico, potencial, caídas históricas, exposición gamma.

Latest News

Recent headlines for PCAR, sourced from Markets Gazette.

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