What is Paccar's earnings per share (EPS)?

Paccar (PCAR) reported diluted earnings per share of $4.51 for fiscal year 2025. This represents a -42.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Paccar Financials

PCAR

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Paccar (PCAR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI PCAR FY2025 2026-04-29

PACCAR’s cash generation stayed resilient even as sales and margins retreated, showing a business with modest reinvestment needs.

Between FY2023 and FY2025, net income dropped from $4.6B to $2.4B. Over the same span, free cash flow rose from $3.5B to $3.7B, showing cash conversion strengthened as profits normalized rather than forcing the company to tie more cash up in the business.

The FY2023 profit peak looks less like a permanent reset and more like a cyclical high. Gross margin slid from 23.4% to 20.1% by FY2025, while net margin fell even faster, suggesting weaker scale or mix pushed on earnings beyond the top-line decline.

Even with lower earnings, debt-to-equity improved from 1.6x to 1.3x between FY2023 and FY2025 as equity kept building while liabilities stayed roughly flat. With capital spending at just $743M and dividends paid at $2.3B in FY2025, the cash engine was still comfortably covering both reinvestment and large distributions.

Financial Health Signals

Financial Profile 33/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Paccar's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

Paccar's revenue declined 15.5% year-over-year, from $33.7B to $28.4B. This contraction results in a growth score of 17/100.

Leverage

Paccar carries a low D/E ratio of 1.30, meaning only $1.30 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 75/100, indicating a strong balance sheet with room for future borrowing.

Cash Flow

Paccar has a free cash flow margin of 12.9%, earning a moderate score of 55/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Paccar's ROE of 12.3% shows moderate profitability relative to equity, earning a score of 54/100. This is down from 23.8% the prior year.

Piotroski F-Score Weak

3/9

Paccar passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.86x

For every $1 of reported earnings, Paccar generates $1.86 in operating cash flow ($4.4B OCF vs $2.4B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$28.4B

YoY-15.5%

5Y CAGR+8.7%

10Y CAGR+4.1%

Paccar generated $28.4B in revenue in fiscal year 2025. This represents a decrease of 15.5% from the prior year.

EBITDA

N/A

Net Income

$2.4B

YoY-42.9%

5Y CAGR+12.8%

10Y CAGR+4.0%

Paccar reported $2.4B in net income in fiscal year 2025. This represents a decrease of 42.9% from the prior year.

EPS (Diluted)

$4.51

YoY-42.9%

5Y CAGR+12.5%

10Y CAGR+0.0%

Paccar earned $4.51 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 42.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$3.7B

YoY-3.4%

5Y CAGR+8.6%

10Y CAGR+4.9%

Paccar generated $3.7B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 3.4% from the prior year.

Cash & Debt

N/A

Dividends Per Share

$2.72

YoY-34.8%

Paccar paid $2.72 per share in dividends in fiscal year 2025. This represents a decrease of 34.8% from the prior year.

Shares Outstanding

526M

YoY+0.2%

5Y CAGR+8.7%

10Y CAGR+4.1%

Paccar had 526M shares outstanding in fiscal year 2025. This represents an increase of 0.2% from the prior year.

Margins & Returns

Gross Margin

20.1%

YoY-2.5pp

Paccar's gross margin was 20.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.5 percentage points from the prior year.

Operating Margin

N/A

Net Margin

8.3%

YoY-4.0pp

5Y CAGR+1.4pp

10Y CAGR-0.0pp

Paccar's net profit margin was 8.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 4.0 percentage points from the prior year.

Return on Equity

12.3%

YoY-11.4pp

5Y CAGR-0.0pp

10Y CAGR-10.8pp

Paccar's ROE was 12.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 11.4 percentage points from the prior year.

Capital Allocation

R&D Spending

$445.5M

YoY-1.6%

Paccar invested $445.5M in research and development in fiscal year 2025. This represents a decrease of 1.6% from the prior year.

Share Buybacks

$36.1M

YoY+702.2%

5Y CAGR-3.0%

10Y CAGR-15.8%

Paccar spent $36.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 702.2% from the prior year.

Capital Expenditures

$743.0M

YoY-11.4%

5Y CAGR+6.2%

10Y CAGR+10.0%

Paccar invested $743.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 11.4% from the prior year.

PCAR Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$28.4B-15.5%	$33.7B-4.2%	$35.1B+21.9%	$28.8B+22.5%	$23.5B+25.6%	$18.7B
Cost of Revenue	$22.7B-12.8%	$26.1B-3.1%	$26.9B+15.5%	$23.3B	N/A	N/A
Gross Profit	$5.7B-24.8%	$7.6B-7.8%	$8.2B+48.9%	$5.5B	N/A	N/A
R&D Expenses	$445.5M-1.6%	$452.9M+10.2%	$410.9M+20.4%	$341.2M	N/A	N/A
SG&A Expenses	$735.8M-1.1%	$744.0M-1.2%	$753.3M+3.7%	$726.3M	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$647.7M-47.7%	$1.2B+10.9%	$1.1B+33.5%	$837.1M+57.7%	$530.8M+47.3%	$360.4M
Net Income	$2.4B-42.9%	$4.2B-9.5%	$4.6B+52.8%	$3.0B+61.4%	$1.9B+43.4%	$1.3B
EPS (Diluted)	$4.51-42.9%	$7.90-9.8%	$8.76+52.3%	$5.75+61.1%	$3.57+42.8%	$2.50

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$6.8B-0.6%	$6.8B+2.2%	$6.7B-11.2%	$7.5B+0.9%	$7.4B-5.9%	$7.9B-4.0%	$8.2B-6.1%	$8.8B
Cost of Revenue	$5.4B-1.6%	$5.5B+3.0%	$5.3B-10.8%	$6.0B+1.8%	$5.9B-4.9%	$6.2B-3.6%	$6.4B-5.1%	$6.8B
Gross Profit	$1.4B+3.4%	$1.3B-0.8%	$1.3B-12.5%	$1.5B-2.3%	$1.6B-9.4%	$1.7B-5.5%	$1.8B-9.4%	$2.0B
R&D Expenses	$109.1M+2.7%	$106.2M-4.3%	$111.0M-1.7%	$112.9M-2.2%	$115.4M+0.1%	$115.3M+0.3%	$115.0M-1.8%	$117.1M
SG&A Expenses	$189.3M-2.8%	$194.7M+8.0%	$180.2M+0.5%	$179.3M-1.3%	$181.6M-3.1%	$187.4M+0.5%	$186.5M+1.6%	$183.5M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$171.0M+15.5%	$148.0M-3.6%	$153.6M-26.2%	$208.1M+50.8%	$138.0M-50.2%	$277.3M-2.4%	$284.2M-16.0%	$338.2M
Net Income	$605.3M+8.7%	$556.9M-5.6%	$590.0M-18.5%	$723.8M+43.3%	$505.1M-42.1%	$872.0M-10.3%	$972.1M-13.4%	$1.1B
EPS (Diluted)	$1.15	N/A	$1.12-18.2%	$1.37+42.7%	$0.96	N/A	$1.85-13.1%	$2.13

PCAR Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$44.3B+2.1%	$43.4B+6.4%	$40.8B+22.7%	$33.3B+12.8%	$29.5B+3.7%	$28.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	N/A	N/A	N/A	N/A	N/A	N/A
Inventory	N/A	N/A	N/A	N/A	$2.0B	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$114.2M+13.4%	$100.7M-6.2%	$107.4M+3.2%	$104.1M-5.9%	$110.6M-6.9%	$118.8M
Total Liabilities	$25.1B-3.2%	$25.9B+3.9%	$24.9B+24.1%	$20.1B+12.2%	$17.9B0.0%	$17.9B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$19.3B+10.0%	$17.5B+10.3%	$15.9B+20.6%	$13.2B+13.6%	$11.6B+10.1%	$10.5B
Retained Earnings	$18.7B+5.3%	$17.8B+12.5%	$15.8B+17.7%	$13.4B+11.4%	$12.0B+9.3%	$11.0B

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$43.6B-1.8%	$44.3B+0.3%	$44.2B+0.2%	$44.1B+3.2%	$42.7B-1.6%	$43.4B+0.3%	$43.3B+5.1%	$41.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	$114.2M	N/A	N/A	N/A	$100.7M	N/A	N/A
Total Liabilities	$23.8B-5.1%	$25.1B+1.0%	$24.8B-1.3%	$25.2B+1.8%	$24.7B-4.7%	$25.9B+5.3%	$24.6B+4.9%	$23.5B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$19.8B+2.6%	$19.3B-0.5%	$19.4B+2.2%	$18.9B+5.1%	$18.0B+2.9%	$17.5B-6.2%	$18.7B+5.4%	$17.7B
Retained Earnings	$19.1B+2.3%	$18.7B-1.9%	$19.0B+2.2%	$18.6B+3.0%	$18.1B+1.9%	$17.8B-4.6%	$18.6B+4.6%	$17.8B

PCAR Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$4.4B-4.9%	$4.6B+10.8%	$4.2B+38.4%	$3.0B+38.4%	$2.2B-26.8%	$3.0B
Capital Expenditures	$743.0M-11.4%	$838.7M+20.7%	$695.0M+32.4%	$525.0M-6.1%	$559.1M+1.6%	$550.4M
Free Cash Flow	$3.7B-3.4%	$3.8B+8.8%	$3.5B+39.7%	$2.5B+53.7%	$1.6B-33.2%	$2.4B
Investing Cash Flow	-$2.3B+49.5%	-$4.5B-56.3%	-$2.9B-41.2%	-$2.0B-49.2%	-$1.4B+27.4%	-$1.9B
Financing Cash Flow	-$3.1B-2404.0%	-$123.1M-111.2%	$1.1B+261.5%	$304.9M+134.5%	-$882.9M+51.2%	-$1.8B
Dividends Paid	$2.3B-0.9%	$2.3B+50.7%	$1.5B+51.1%	$1.0B+41.9%	$708.0M-42.9%	$1.2B
Share Buybacks	$36.1M+702.2%	$4.5M+28.6%	$3.5M+66.7%	$2.1M+40.0%	$1.5M-96.4%	$42.1M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$971.8M-15.1%	$1.1B-25.1%	$1.5B+83.3%	$833.4M-8.4%	$910.3M-37.0%	$1.4B+12.4%	$1.3B+192.3%	$440.0M
Capital Expenditures	$147.2M-22.5%	$189.9M+14.5%	$165.9M-25.3%	$222.1M+34.5%	$165.1M-29.3%	$233.4M+20.5%	$193.7M-12.1%	$220.3M
Free Cash Flow	$824.6M-13.6%	$954.4M-29.9%	$1.4B+122.8%	$611.3M-18.0%	$745.2M-38.5%	$1.2B+11.0%	$1.1B+397.3%	$219.7M
Investing Cash Flow	-$75.0M+90.1%	-$753.8M-49.8%	-$503.3M+18.5%	-$617.5M-57.3%	-$392.6M+77.3%	-$1.7B-46.1%	-$1.2B-13.6%	-$1.0B
Financing Cash Flow	-$1.6B-293.2%	-$394.6M-50.6%	-$262.0M+10.0%	-$291.1M+86.4%	-$2.1B-431.8%	$643.3M-20.9%	$812.9M+170.3%	$300.7M
Dividends Paid	$909.4M+424.5%	$173.4M0.0%	$173.4M+0.1%	$173.3M-90.1%	$1.7B+1009.9%	$157.4M+0.1%	$157.3M0.0%	$157.3M
Share Buybacks	$4.8M+433.3%	$900K+350.0%	$200K-99.3%	$30.7M+614.0%	$4.3M	$0-100.0%	$500K	$0

PCAR Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	20.1%-2.5pp	22.6%-0.9pp	23.4%+4.3pp	19.2%	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	8.3%-4.0pp	12.4%-0.7pp	13.1%+2.7pp	10.4%+2.5pp	7.9%+1.0pp	7.0%
Return on Equity	12.3%-11.4pp	23.8%-5.2pp	29.0%+6.1pp	22.9%+6.8pp	16.1%+3.7pp	12.3%
Return on Assets	5.4%-4.2pp	9.6%-1.7pp	11.3%+2.2pp	9.0%+2.7pp	6.3%+1.8pp	4.6%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.30-0.2	1.48-0.1	1.57+0.0	1.53-0.0	1.55-0.2	1.70
FCF Margin	12.9%+1.6pp	11.3%+1.3pp	10.0%+1.3pp	8.7%+1.8pp	6.9%-6.1pp	13.0%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	20.1%+0.8pp	19.3%-0.6pp	19.9%-0.3pp	20.2%-0.7pp	20.8%-0.8pp	21.6%-0.3pp	22.0%-0.8pp	22.8%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	8.9%+0.8pp	8.2%-0.7pp	8.8%-0.8pp	9.6%+2.8pp	6.8%-4.2pp	11.0%-0.8pp	11.8%-1.0pp	12.8%
Return on Equity	3.1%+0.2pp	2.9%-0.2pp	3.0%-0.8pp	3.8%+1.0pp	2.8%-2.2pp	5.0%-0.2pp	5.2%-1.1pp	6.3%
Return on Assets	1.4%+0.1pp	1.3%-0.1pp	1.3%-0.3pp	1.6%+0.5pp	1.2%-0.8pp	2.0%-0.2pp	2.3%-0.5pp	2.7%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.20-0.1	1.30+0.0	1.28-0.0	1.33-0.0	1.37-0.1	1.48+0.2	1.320.0	1.33
FCF Margin	12.2%-1.8pp	14.0%-6.4pp	20.4%+12.3pp	8.1%-1.9pp	10.0%-5.3pp	15.3%+2.1pp	13.3%+10.8pp	2.5%

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Frequently Asked Questions

What is Paccar's annual revenue?

Paccar (PCAR) reported $28.4B in total revenue for fiscal year 2025. This represents a -15.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Paccar's revenue growing?

Paccar (PCAR) revenue declined by 15.5% year-over-year, from $33.7B to $28.4B in fiscal year 2025.

Is Paccar profitable?

Yes, Paccar (PCAR) reported a net income of $2.4B in fiscal year 2025, with a net profit margin of 8.3%.

What is Paccar's gross margin?

Paccar (PCAR) had a gross margin of 20.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Paccar's net profit margin?

Paccar (PCAR) had a net profit margin of 8.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Paccar pay dividends?

Yes, Paccar (PCAR) paid $2.72 per share in dividends during fiscal year 2025.

What is Paccar's return on equity (ROE)?

Paccar (PCAR) has a return on equity of 12.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Paccar's free cash flow?

Paccar (PCAR) generated $3.7B in free cash flow during fiscal year 2025. This represents a -3.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Paccar's operating cash flow?

Paccar (PCAR) generated $4.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Paccar's total assets?

Paccar (PCAR) had $44.3B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Paccar's capital expenditures?

Paccar (PCAR) invested $743.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Paccar spend on research and development?

Paccar (PCAR) invested $445.5M in research and development during fiscal year 2025.

Does Paccar buy back shares?

Yes, Paccar (PCAR) spent $36.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Paccar have outstanding?

Paccar (PCAR) had 526M shares outstanding as of fiscal year 2025.

What is Paccar's debt-to-equity ratio?

Paccar (PCAR) had a debt-to-equity ratio of 1.30 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Paccar's return on assets (ROA)?

Paccar (PCAR) had a return on assets of 5.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Paccar's Piotroski F-Score?

Paccar (PCAR) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Paccar's earnings high quality?

Paccar (PCAR) has an earnings quality ratio of 1.86x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Paccar?

Paccar (PCAR) scores 33 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.