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PACCAR Inc PCAR Stock Quote

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Morningstar‘s Stock Analysis PCAR

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Is it the right time to buy or sell?

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Our Long-Term Thesis on Paccar Remains Intact, Despite Near-Term Supply Challenges

Dawit Woldemariam Equity Analyst

Analyst Note

| Dawit Woldemariam |

We continue to remain positive on the demand story for Paccar, despite supply headwinds. These players have been pressured by the chip shortage and higher manufacturing costs over the past year, challenging their ability to meet current demand. However, we believe freight activity will continue to be solid in the near term, giving us confidence that Paccar’s products will see strong demand from fleet owners over our forecast. In addition, we think it is important to note that industrial production continues to improve from year-end 2021. Given this backdrop, we raised our fair value estimate to $105 from $104 previously.  

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Key Statistics PCAR

Company Profile PCAR

Business Description

Paccar is a leading manufacturer of medium- and heavy-duty trucks under the premium brands Kenworth and Peterbilt, which are primarily sold in the NAFTA region and Australia, and DAF trucks, which are sold in Europe and South America. Its trucks are sold through over 2,200 independent dealers globally. Paccar Financial Services provides retail and wholesale financing for customers and dealers, respectively. The company commands approximately 29% of the Class 8 market share in North America and 17% of the heavy-duty market share in Europe.

777-106th Avenue N.E.
Bellevue, WA, 98004
T +1 425 468-7400
Industry Farm & Heavy Construction Machinery
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 28,500

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