Investment Thesis
PACCAR manufactures premium heavy-duty trucks (Kenworth, Peterbilt, DAF) plus aftermarket parts and financial services. Electrification, connected services, and parts growth support double-digit ROE.
- Aftermarket Parts: 30%+ gross margin parts sales drive recurring profit.
- Technology Investments: Autonomous, connected, and electric powertrains widen moat.
- Global Footprint: DAF Europe and Latin America operations provide diversification.