PACCAR INC (PCAR)

PACCAR Inc, a Delaware corporation founded in 1971 as successor to Pacific Car and Foundry Company (originally Seattle Car Manufacturing Company, 1905), is a multinational manufacturer and distributor of commercial vehicles operating through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes light-, medium-, and heavy-duty commercial trucks under the Kenworth, Peterbilt, and DAF nameplates, built at plants in the U.S., Europe, Australia, Brazil, Canada, and Mexico, and generated 68% of 2025 net sales and revenues; the Company also manufactures diesel engines in Mississippi, the Netherlands, and Brazil, installing PACCAR engines in about 29% of its North American heavy-duty trucks and substantially all DAF heavy-duty trucks, while relying on key suppliers including Cummins, Eaton, ZF, Magna, and Renault V.I. for certain components. PACCAR held a 29.9% share of the U.S./Canada Class 8 market and 15.9% of the medium-duty market in 2025, while DAF held 13.5% of the European heavy-duty market and 9.7% of the light/medium segment; total production backlog stood at $4.9 billion at year-end 2025.

The Parts segment distributes aftermarket parts through over 2,000 dealers and 350+ TRP stores in 99 countries via 21 parts distribution centers, contributing 24% of 2025 net sales and revenues. The Financial Services segment (PACCAR Financial Services, operating under PACCAR Financial and PacLease brands in 26 countries) provides financing and leasing for PACCAR trucks and related equipment, accounting for 8% of net sales and revenues but 51% of total assets in 2025, funded primarily through commercial paper, medium-term notes, and bank loans, with credit risk managed via secured loans across dealer wholesale, dealer retail, and customer retail segments. The Company previously manufactured industrial winches under the BRADEN, CARCO, and Gearmatic brands through October 2024.

PACCAR operates in a highly competitive, regulated environment subject to safety, emissions, and environmental standards in all its markets, and is investing in low-carbon technologies including battery-electric and hydrogen vehicles, biofuel-certified engines, and remanufacturing operations, alongside connected-vehicle and AI-driven initiatives. As of December 31, 2025, the Company employed approximately 25,900 people, about 40% of whom were based in the U.S.