PACCAR INC

10-K & 10-Q Filings

PACCAR Inc. is a multinational corporation incorporated in Delaware in 1971, with roots tracing back to Seattle Car Manufacturing Company in 1905. The company operates in three principal business segments: Trucks, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes high-quality light-, medium- and heavy-duty commercial trucks under the Kenworth, Peterbilt, and DAF nameplates. The Parts segment distributes aftermarket parts for trucks and related commercial vehicles. The Financial Services segment provides finance and leasing products and services to customers and dealers. PACCAR's website is www.paccar.com, and its ticker symbol is PCAR. The company's trucks are sold to independent dealers and are subject to noise, emission, and safety regulations. PACCAR had a total production backlog of $17.4 billion at the end of 2023. The Parts segment includes the distribution of aftermarket parts for trucks and related commercial vehicles to over 2,300 Kenworth, Peterbilt, and DAF dealers in 95 countries. The Financial Services segment operates in 26 countries and provides financing and leasing services to customers and dealers. PACCAR's financial services activities are funded primarily from collections on existing finance receivables and borrowings in the capital markets. Key factors affecting the earnings of the Financial Services segment include the volume of new loans and leases, the yield earned on the loans and leases, the costs of funding investments in loans and leases, the ability to collect the amounts owed to PACCAR, and the volume of used truck sales and used truck prices.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$1029.30
1098.80
1174.90
1204.20
1172.30
1186.70
1268.90
23495.70
25599.70
18728.50
23522.30
28819.70
35127.40
8473.30
8744.30
34.20%3.20%Cost of Revenue (-)
$13383.20
13928.30
13913.60
15481.60
15292.10
13517.70
15593.70
18925.00
20555.60
15076.40
19110.10
23291.00
26894.20
6493.10
6673.80
5.99%2.78%Gross Profit (+)
$-12353.90
-12829.50
-12738.70
-14277.40
-14119.80
-12331.00
-14324.80
4570.70
5044.10
3652.10
4412.20
5528.70
8233.20
1980.20
2070.50
4.56%Selling, General & Administrative (-)
$546.90
571.60
559.50
561.40
541.50
540.20
555.00
644.70
698.50
581.40
676.80
726.30
753.30
195.00
186.60
2.70%-4.31%Research & Development (-)
$288.20
279.30
251.40
215.60
239.80
247.20
264.70
306.10
326.60
273.90
324.10
341.20
410.90
97.20
105.50
3.00%8.54%Operating Expenses (-)
$835.10
850.90
1538.50
1499.20
1483.00
2412.80
1696.80
1865.70
2053.80
2055.40
2121.20
1844.60
2807.20
1110.20
632.40
10.63%-43.04%Costs & Expenses (Total) (-)
$14886.50
15454.70
15457.40
17001.70
16799.80
15930.50
17318.40
20746.40
22582.80
17106.50
21159.20
25032.00
29701.40
7603.30
7295.30
5.93%-4.05%Operating Income/Loss (+)
$-13857.20
-14355.90
-14282.50
-15797.50
-15627.50
-14743.80
-16049.50
2749.30
3016.90
1622.00
2363.10
3787.70
5426.00
870.00
1449.00
66.55%Non-operating Income/Expense (+)
$27.50
33.40
23.30
16.80
9.50
16.00
29.70
60.90
124.30
90.00
88.10
170.10
-228.20
-529.80
112.50
121.23%Interest Expense (-)
$181.30
158.40
Earnings before Tax (+)
$1506.90
1628.90
1695.00
2017.60
2337.10
1130.40
2173.30
2810.20
3099.20
1657.90
2378.60
3848.70
5718.20
919.00
1534.50
11.75%66.97%Tax Expense (-)
$464.60
517.30
523.70
658.80
733.10
608.70
498.10
615.10
711.30
359.50
526.50
837.10
1117.40
185.10
339.20
7.59%83.25%Income/Loss (Continuing Operations) (+)
$1042.30
1111.60
1171.30
1358.80
1604.00
521.70
1675.20
2195.10
2387.90
1298.40
1852.10
3011.60
4600.80
733.90
1195.30
13.17%62.87%Net Income/Loss (+)
$1042.30
1111.60
1171.30
1358.80
1604.00
521.70
1675.20
2195.10
2387.90
1298.40
1852.10
3011.60
4600.80
733.90
1195.30
13.17%62.87%Net Income/Loss (Common) (+)
$1042.30
1111.60
1171.30
1358.80
1604.00
521.70
1675.20
2195.10
2387.90
1298.40
1852.10
3011.60
4600.80
733.90
1195.30
13.17%62.87%EPS (Basic)
$2.87
3.13
3.31
3.83
4.52
1.49
4.76
6.25
6.88
3.74
5.33
5.76
8.78
1.40
2.28
9.77%62.86%EPS (Diluted)
$2.86
3.12
3.30
3.82
4.51
1.48
4.75
6.24
6.87
3.74
5.32
5.75
8.76
1.40
2.27
9.78%62.14%Weighted Avg Shares (Basic)
363.30
355.10
354.20
355.00
354.60
351.10
351.90
0.00
346.90
346.80
347.80
522.60
523.90
523.50
524.90
3.10%0.27%Weighted Avg Shares (Diluted)
364.40
355.80
355.20
356.10
355.60
351.80
352.90
0.00
347.50
347.40
348.40
523.40
525.00
524.40
526.30
3.09%0.36%Cash
$2106.70
1272.40
1750.10
1737.60
2016.40
1915.70
2364.70
3435.90
4175.10
3539.60
3428.30
4690.90
7181.70
4410.10
6194.50
10.76%40.46%Short-term Investments
$910.10
1192.70
1267.50
1272.00
1448.10
1140.90
1367.10
1020.40
1162.10
1429.00
1559.40
1614.20
1822.60
1638.90
1831.40
5.96%11.75%Receivables
$977.80
902.10
1019.60
1047.10
879.00
862.20
1127.90
1314.40
1306.10
1197.50
1575.10
1919.80
2198.10
2347.00
2410.90
6.98%2.72%Inventory
$710.40
782.40
813.60
925.70
796.50
727.80
928.40
1184.70
1153.20
1221.90
1768.30
2198.80
2576.70
2609.20
2742.60
11.33%5.11%Other Assets (Current)
$133.00
262.50
215.70
218.00
159.20
91.60
294.50
208.00
220.20
381.00
558.20
535.80
335.60
644.40
323.70
8.02%-49.77%Assets (Current)
$4838.00
4412.10
5066.50
5200.40
5299.20
4738.20
6082.60
7163.40
8016.70
7769.00
8889.30
10959.50
14114.70
11649.60
13503.10
9.33%15.91%Securities & Long-term Investments
$
9697.10
10840.80
12086.00
11820.70
11920.80
13791.90
17571.70
14541.70
17873.10
22.91%Property, Plant & Equipment (Net)
$4363.10
5201.60
5841.70
5553.80
5549.40
5897.80
6606.40
6122.50
6531.90
6855.10
3398.10
3468.40
3780.10
3511.60
3796.90
-1.19%8.12%Other Assets
$7971.60
9014.10
9817.30
9864.60
10261.20
10002.90
944.20
1199.00
1558.70
1680.60
4918.80
4909.50
5011.90
4996.70
4901.80
-3.79%-1.90%Assets (Non-current)
$12334.70
14215.70
15659.00
15418.40
15810.60
15900.70
17247.70
18162.30
20176.60
20356.40
20237.70
22169.80
26363.70
23050.00
26571.80
6.53%15.28%Assets (Total)
$17172.70
18627.80
20725.50
20618.80
21109.80
20638.90
23440.20
25482.40
28361.10
28260.00
29301.70
33275.50
40823.40
34826.40
40373.60
7.48%15.93%Accounts Payable
$250.30
2168.30
2473.80
2651.60
2921.20
2639.50
2991.60
3722.80
3990.70
3656.50
4452.00
5486.30
6751.30
6307.40
6704.90
31.60%6.30%Debt (Current)
$
150.00
Other Liabilities (Current)
$2377.40
4697.80
5688.90
21.10%Liabilities (Current)
$2627.70
2168.30
2623.80
2651.60
2564.30
2244.50
2991.60
3722.80
3990.70
3656.50
4452.00
5486.30
6751.30
5438.50
5522.30
8.18%1.54%Debt (Non-current)
$2745.50
4317.40
5765.30
5588.70
5795.00
6027.70
5945.50
6409.70
7112.50
7508.90
7128.80
7866.70
8624.60
10.01%Other Liabilities
$6435.10
6295.20
5702.10
5625.30
5810.10
5589.10
6452.60
6757.00
7551.80
6704.60
6283.50
6755.40
9568.70
3.36%Liabilities (Non-current)
$9180.60
10612.60
11467.40
11214.00
11605.10
11616.80
12398.10
13166.70
14664.30
14213.50
13412.30
14622.10
18193.30
15505.90
17979.40
5.87%15.95%Liabilities (Total)
$11808.30
12780.90
14091.20
13865.60
14169.40
13861.30
15389.70
16889.50
18655.00
17870.00
17864.30
20108.40
24944.60
20944.40
23501.70
6.43%12.21%Treasury Stock
$
42.70
3.00
4.00
33.33%Retained Earnings
$5174.50
5596.40
6165.10
6863.80
7536.80
7484.90
8369.10
9275.40
10398.50
11005.20
11869.20
13402.40
15780.30
14005.30
16833.70
9.74%20.20%AOCI
$-219.00
-159.50
8.70
-579.80
-1017.00
-1128.10
-793.60
-1098.50
-1100.10
-1050.30
-921.10
-953.40
-693.90
-873.20
-800.20
8.36%Shareholder's Equity
$5364.40
5846.90
6634.30
6753.20
6940.40
6777.60
8050.50
8592.90
9706.10
10390.00
11437.40
13167.10
15878.80
13882.00
16871.90
9.46%21.54%Liabilities & Equity
$17172.70
18627.80
20725.50
20618.80
21109.80
20638.90
23440.20
25482.40
28361.10
28260.00
29301.70
33275.50
40823.40
34826.40
40373.60
7.48%15.93%Net Income/Loss
$1042.30
1111.60
1171.30
1358.80
1604.00
521.70
1675.20
2195.10
2387.90
1298.40
1852.10
3011.60
4600.80
733.90
1195.30
13.17%62.87%Depreciation & Amortization
$673.80
700.90
810.70
917.70
907.10
993.10
1107.50
1054.10
322.20
249.60
270.00
332.20
415.00
103.00
104.20
-3.96%1.17%Increase/Decrease in Working Capital
$332.20
308.40
-273.10
29.60
-104.00
-892.10
-111.70
237.10
682.00
-776.00
351.50
547.10
1081.50
209.00
-30.70
10.34%-114.69%Share-based Compensation
$-85.20
-190.80
-26.20
-81.10
-62.90
-185.70
Adjustments to Reconcile Net Income
$550.30
407.40
1204.40
764.80
952.00
1779.10
1040.60
797.20
472.40
1688.80
334.60
15.40
-410.80
-49.10
273.70
657.43%Net Cash (Operating)
$1592.60
1519.00
2375.70
2123.60
2556.00
2300.80
2715.80
2992.30
2860.30
2987.20
2186.70
3027.00
4190.00
684.80
1469.00
8.39%114.52%Capital Expenditure
$1308.30
1473.20
1532.70
1141.80
1276.40
1531.10
1375.90
1298.60
1332.70
1036.50
728.70
702.80
648.00
120.40
182.70
-5.69%51.74%Net Cash (Investing)
$-2419.00
-2588.00
-2151.00
-1531.90
-1974.90
-1564.30
-1964.60
-1930.70
-2207.40
-1875.80
-1362.70
-2033.00
-2871.00
-292.70
-526.10
-79.74%Increase/Decrease in Debt
$1490.20
1167.20
525.90
116.90
663.80
46.90
125.20
1210.50
1271.40
-580.30
-210.90
1276.00
2572.80
397.00
-94.90
4.66%-123.90%Increase/Decrease in Equity
$-337.60
-162.10
-42.70
-201.60
-70.50
39.30
-335.10
-49.40
11.60
36.00
33.60
48.00
17.50
31.40
79.43%Dividends Paid
$217.40
809.50
283.10
623.80
680.50
829.30
558.30
804.30
1138.60
1239.80
708.00
1004.70
1518.60
1105.30
1816.50
17.58%64.34%Net Cash (Financing)
$946.10
209.50
273.80
-520.50
-196.50
-823.50
-393.80
71.10
83.40
-1808.50
-882.90
304.90
1102.20
-690.80
-1880.00
1.28%-172.15%Effect of Exchange Rate
$-53.80
25.20
-20.80
-83.70
-105.80
-13.70
91.60
-61.50
2.90
61.60
-52.40
-36.30
69.60
17.90
-50.10
-379.89%Increase/Decrease in Cash
$65.90
-834.30
477.70
-12.50
278.80
-100.70
449.00
1071.20
739.20
-635.50
-111.30
1262.60
2490.80
-280.80
-987.20
35.35%-251.57%Cash (Beginning)
$2040.80
2106.70
1272.40
1750.10
1737.60
2016.40
1915.70
2364.70
3435.90
4175.10
3539.60
3428.30
4690.90
4690.90
7181.70
7.18%53.10%Cash (Ending)
$2106.70
1272.40
1750.10
1737.60
2016.40
1915.70
2364.70
3435.90
4175.10
3539.60
3428.30
4690.90
7181.70
4410.10
6194.50
10.76%40.46%NOPAT
$-9584.82
-9796.81
-9869.67
-10639.20
-10725.48
-6804.53
-12371.10
2147.53
2324.49
1270.28
1840.03
2963.87
4365.70
694.77
1128.70
62.46%Gross Margin %
-1200.22%
-1167.59%
-1084.24%
-1185.63%
-1204.45%
-1039.10%
-1128.91%
19.45%
19.70%
19.50%
18.76%
19.18%
23.44%
23.37%
23.68%
Operating Margin %
-1346.27%
-1306.51%
-1215.64%
-1311.87%
-1333.06%
-1242.42%
-1264.84%
11.70%
11.78%
8.66%
10.05%
13.14%
15.45%
10.27%
16.57%
NOPAT Margin %
-931.20%
-891.59%
-840.04%
-883.51%
-914.91%
-573.40%
-974.95%
9.14%
9.08%
6.78%
7.82%
10.28%
12.43%
8.20%
12.91%
Net Margin %
101.26%
101.16%
99.69%
112.84%
136.83%
43.96%
132.02%
9.34%
9.33%
6.93%
7.87%
10.45%
13.10%
8.66%
13.67%
Tax Rate %
30.83%
31.76%
30.90%
32.65%
31.37%
53.85%
22.92%
21.89%
22.95%
21.68%
22.13%
21.75%
19.54%
20.14%
22.10%
ROA
-55.81%
-52.59%
-47.62%
-51.60%
-50.81%
-32.97%
-52.78%
8.43%
8.20%
4.49%
6.28%
8.91%
10.69%
1.99%
2.80%
ROE
-178.67%
-167.56%
-148.77%
-157.54%
-154.54%
-100.40%
-153.67%
24.99%
23.95%
12.23%
16.09%
22.51%
27.49%
5.00%
6.69%
ROIC
-203.27%
-202.93%
-185.57%
-212.98%
-242.61%
-137.00%
-213.37%
29.63%
30.75%
16.96%
39.64%
59.48%
82.12%
105.46%
409.72%
Asset Turnover
0.06
0.06
0.06
0.06
0.06
0.06
0.05
0.92
0.90
0.66
0.80
0.87
0.86
0.24
0.22
Inventory Turnover
18.84
17.80
17.10
16.72
19.20
18.57
16.80
15.97
17.82
12.34
10.81
10.59
10.44
2.49
2.43
Equity Multiplier
3.20
3.19
3.12
3.05
3.04
3.05
2.91
2.97
2.92
2.72
2.56
2.53
2.57
2.51
2.39
Current Ratio
1.84
2.03
1.93
1.96
1.81
1.80
2.03
1.92
2.01
2.12
2.00
2.00
2.09
1.06
1.09
Quick Ratio
1.52
1.55
1.54
1.53
1.49
1.48
1.62
1.55
1.66
1.69
1.47
1.50
1.66
0.76
0.84
Debt/Equity Ratio
0.51
0.74
0.89
0.83
0.83
0.89
0.74
0.75
0.73
0.72
0.62
0.60
0.54
Working Capital/Sales
0.34
-0.34
-0.45
-0.46
-0.96
-0.78
-0.64
0.05
0.04
0.03
0.05
0.05
0.04
-0.34
-0.40
R&D/Sales
0.28
0.25
0.21
0.18
0.20
0.21
0.21
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
Dividend Payout Ratio %
2.27%
8.26%
2.87%
5.86%
6.34%
12.19%
4.51%
37.45%
48.98%
97.60%
38.48%
33.90%
34.78%
159.09%
160.94%
Total Payout
$-935.20
-195.60
-242.80
549.60
218.30
852.90
393.80
-71.10
-83.40
1808.50
882.90
-304.90
-1102.20
690.80
1880.00
172.15%Payout Ratio %
-9.76%
-2.00%
-2.46%
5.17%
2.04%
12.53%
3.18%
-3.31%
-3.59%
142.37%
47.98%
-10.29%
-25.25%
99.43%
166.56%