Paccar Inc

paccar.com

What Do They Do?

Builds commercial trucks and distributes aftermarket truck parts to independent dealers; also provides truck financing and leases to trucking companies and dealers.

How Do They Make Money?

Independent dealers pay for trucks and parts after shipment; customers and dealers pay loan interest and lease rentals over their contract terms.

FY2025 revenue by product or service revenue

Segment	Share	Revenue	How money arrives
Truck, Parts and Other Sold outright	92% FY2022: 95%		Sold outright
Financial Services Recurring	7.8% FY2022: 5.2%		Recurring

Who Are Their Customers?

Substantially all trucks are sold to independent dealers; aftermarket parts are delivered to those dealers through PACCAR's parts centers. PACCAR Financial Services lends to trucking companies, owner-operators and other businesses, and finances dealer inventory.

Do Revenues Turn Into Profits?

Yes. It kept 8 cents of every revenue dollar as net income in FY2025 and turned 13 cents into free cash flow.

Operating income, FY2025

16% of revenue

▼ −29% vs FY2024 ($6.4B, 19%)

Net income, FY2025

8% of revenue

▼ −43% vs FY2024 ($4.2B, 12%)

Free cash flow, FY2025

13% of revenue

▼ −3% vs FY2024 ($3.8B, 11%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ 0%; vs $7.5B in Q2 FY2025
Net income: ▲ +4%; vs $723.8M in Q2 FY2025

Truck, Parts and Other share of revenue vs 92.7% in Q2 FY2025

Growing. Revenue grew 21% in 4 years, from $23.5B in FY2021 to $28.4B in FY2025, about 5% a year.

Industrial winches PACCAR's Other business included manufacturing and marketing industrial winches; winch sales have since ended.

Revenue over time

Truck, Parts and Other Financial Services

$50B$25B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Renault V.I.

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