Paccar
PCAR · NasdaqMotor Vehicles & Passenger Car Bodies · Fiscal year ends Dec 31
Paccar reported revenue of $28.4B in the fiscal year ended Dec 2025, down 15.5% from the year before. Net income was $2.4B. Operating cash flow of $4.4B less capital expenditure of $743M left free cash flow of $3.7B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $23.5B | $28.8B | $35.1B | $33.7B | $28.4B |
| Cost of revenue | – | $23.3B | $26.9B | $26.1B | $22.7B |
| Gross profit | – | $5.5B | $8.2B | $7.6B | $5.7B |
| Research & development | – | $341M | $411M | $453M | $446M |
| Selling, general & admin | – | $726M | $753M | $744M | $736M |
| Pre-tax income | $2.4B | $3.8B | $5.7B | $5.4B | $3B |
| Income tax | $531M | $837M | $1.1B | $1.2B | $648M |
| Net income | $1.9B | $3B | $4.6B | $4.2B | $2.4B |
| Diluted EPS | 3.57 | 5.75 | 8.76 | 7.90 | 4.51 |
| Diluted shares | 523M | 523M | 525M | 527M | 527M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Inventory | $2B | – | – | – | – |
| Net PP&E | $3.4B | $3.5B | $3.8B | $4B | $4.5B |
| Goodwill | $111M | $104M | $107M | $101M | $114M |
| Total assets | $29.5B | $33.3B | $40.8B | $43.4B | $44.3B |
| Deferred revenue | $775M | $905M | $1.2B | $1.3B | $1.4B |
| Shareholders' equity | $11.6B | $13.2B | $15.9B | $17.5B | $19.3B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $2.2B | $3B | $4.2B | $4.6B | $4.4B |
| Capital expenditure | $559M | $525M | $695M | $839M | $743M |
| Free cash flow | $1.6B | $2.5B | $3.5B | $3.8B | $3.7B |
| Depreciation & amortisation | $270M | $332M | $415M | $398M | $398M |
| Stock-based compensation | $15M | $17M | $21M | $23M | $24M |
| Share buybacks | $2M | $2M | $4M | $5M | $36M |
| Dividends paid | $708M | $1B | $1.5B | $2.3B | $2.3B |
| Dividend per share | – | 2.80 | 4.24 | 4.17 | 2.72 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 22.5% | 21.9% | −4.2% | −15.5% |
| EPS growth (YoY) | – | 61.1% | 52.3% | −9.8% | −42.9% |
| Gross margin | – | 19.2% | 23.4% | 22.6% | 20.1% |
| Net margin | 7.9% | 10.4% | 13.1% | 12.4% | 8.4% |
| Return on equityBlank when equity is negative | 16.1% | 22.9% | 29.0% | 23.8% | 12.3% |
| Free cash flow margin | 6.9% | 8.7% | 9.9% | 11.3% | 12.9% |
| Cash conversion (CFO ÷ net income) | 1.17x | 1.01x | 0.91x | 1.12x | 1.86x |
Recent filings
More in Motor Vehicles & Passenger Car Bodies
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.