Industrials · Construction Machinery & Heavy Transportation Equipment · US stock · price as of 16 Oct 2026
Key indicators
Price
$110.82
52-week range
$90.95 – $138.87
Market cap
$58.5B
P/E (trailing)
23.3×
EV / EBITDA
15.3×
Free-cash-flow yield
6.3%
Dividend yield
2.5%
Revenue (last 12 months)
$27.8B
Revenue growth (3y a year)
−0.4%
Operating margin
11.5%
Return on invested capital
12.3%
Net debt / EBITDA
–
Fair value
Blended fair value$141.92 range $136 – $149
Versus priceFair+28% to fair value
Peer multiples
$143.58
Fundamentals-adjusted multiple
$148.74
10-year DCF (market-scaled)
$133.42
Earnings power value (floor, not blended)
$58.00
Model uncertainty
Medium
X-Ray Score
43/ 100 · Medium confidence · ahead of 21% of sector peers
Valuation74
Growth16
Profitability34
Financial health32
Dividends59
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Paccar designs and manufactures heavy- and medium-duty commercial trucks marketed under the Kenworth, Peterbilt and DAF names. It also makes engines and supplies aftermarket parts through its parts distribution business, and its financial services arm provides loans and leases to customers and dealers. Truck operators, fleets and owner-drivers in North America, Europe and other regions are its main customers, and trucks reach them through independent dealers.
Paccar earns revenue from truck and engine shipments, from parts, and from interest and fees on financing. Revenue over the last twelve months was $27.8 billion, though revenue growth over the last three years was -0.4% a year, a small decline. The operating margin is 11.5%, and the business earns a profit of 12% on the capital invested in it. A dividend is paid, with a yield of 2.5%.
StocksXray gives Paccar Inc an X-Ray Score of 43 out of 100 (medium confidence), ahead of 21% of the S&P 500 stocks in its sector. Its strongest lens is valuation (74) and its weakest is growth (16).
Our fair value blend is $141.92 (range $135.92 to $149.27). At $110.82 the stock trades 22% below that blend, so the label is "Fair" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Paccar Inc (PCAR)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$50.02
$58.52
$90.72
$100.53
$108.60
$110.82
Market cap
$26.1B
$30.6B
$47.6B
$52.9B
$57.2B
$58.5B
P/E
14.0×
10.2×
10.4×
12.7×
24.1×
23.3×
EV / revenue
1.1×
1.1×
1.4×
1.6×
2.0×
2.1×
EV / EBITDA
9.8×
7.3×
7.8×
9.1×
16.7×
15.3×
Price / free cash flow
16.1×
12.2×
13.6×
13.9×
15.6×
15.8×
Free-cash-flow yield
6.2%
8.2%
7.3%
7.2%
6.4%
6.3%
Price / book
2.3×
2.3×
3.0×
3.0×
3.0×
2.9×
Dividend yield
–
4.78%
4.67%
4.15%
2.50%
2.49%
Fundamentals checklist ● 4 Good · ● 3 Average · ● 6 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−4.2%Average
Free-cash-flow yield6.3%Good
Risk models
Piotroski F-Score4 of 9Bad
Growth
EPS growth (3y)−7.8%Bad
Free-cash-flow growth (3y)13.7%Average
Revenue growth (3y)−0.4%Bad
Growth consistency20%Bad
Balance sheet
Interest coverno interest costGood
Valuation
Fair value vs price1.3×Good
EBIT / EV yield5.5%Good
Profitability
Return on invested capital12.3%Bad
Operating margin11.5%Average
Gross profitability12.6%Bad
XStocksXray
Paccar Inc (PCAR)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
23,522
28,820
35,127
33,664
28,445
27,816
Gross profit
–
5,529
8,233
7,594
5,708
5,560
Operating income
2,396
3,849
5,718
5,401
3,024
3,206
Net income
1,866
3,012
4,601
4,162
2,376
2,504
Diluted EPS ($)
3.57
5.75
8.76
7.90
4.51
4.75
Free cash flow
1,628
2,502
3,495
3,802
3,673
3,696
Gross margin
–
19.2%
23.4%
22.6%
20.1%
20.0%
Operating margin
10.2%
13.4%
16.3%
16.0%
10.6%
11.5%
Net margin
7.9%
10.4%
13.1%
12.4%
8.4%
9.0%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
29,509
33,276
40,823
43,419
44,336
43,980
Cash
–
–
–
–
–
–
Total debt
–
–
–
–
–
–
Equity
11,594
13,167
15,879
17,507
19,264
20,321
Dividend per share ($)
–
2.80
4.24
4.17
2.72
2.74
Revenue and net income US$ billions: navy revenue, teal net income
Margins blue gross, teal operating, brown net
Latest quarters
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026
Jun 2026
Revenue ($M)
7,442
7,511
6,672
6,821
6,777
7,547
Growth vs a year earlier
−14.9%
−14.4%
−19.0%
−13.7%
−8.9%
+0.5%
Net income ($M)
505
724
590
557
605
752
Diluted EPS ($)
0.96
1.37
1.12
–
1.15
1.43
XStocksXray
Paccar Inc (PCAR)
Peers in Construction Machinery & Heavy Transportation Equipment
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.