Financials PACCAR Inc Sao Paulo

Equities

P1AC34

BRP1ACBDR002

Heavy Machinery & Vehicles

Market Closed - Sao Paulo Other stock markets 12:10:38 2024-06-11 pm EDT			5-day change	1st Jan Change
285 ^BRL	-0.26%		+1.92%	+14.33%

Jun. 06	JPMorgan Raises PACCAR Price Target to $135 From $130	MT
Jun. 05	Transcript : PACCAR Inc - Analyst/Investor Day

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	27,359	29,891	30,642	34,419	51,078	55,937	-	-
Enterprise Value (EV) ¹	22,189	25,057	25,829	28,260	51,078	45,426	44,162	42,655
P/E ratio	11.5 x	23.1 x	16.6 x	11.5 x	11.1 x	12.9 x	12.3 x	11.3 x
Yield	4.53%	2.29%	3.22%	4.23%	4.34%	3.87%	3.96%	4.49%
Capitalization / Revenue	1.13 x	1.74 x	1.4 x	1.26 x	1.53 x	1.76 x	1.68 x	1.54 x
EV / Revenue	0.92 x	1.46 x	1.18 x	1.03 x	1.53 x	1.43 x	1.33 x	1.18 x
EV / EBITDA	7.4 x	13.5 x	12.2 x	8.26 x	8.77 x	8.65 x	7.92 x	6.85 x
EV / FCF	9.71 x	10.3 x	15.9 x	11.3 x	14.6 x	11.4 x	10.5 x	9.65 x
FCF Yield	10.3%	9.73%	6.3%	8.82%	6.84%	8.78%	9.48%	10.4%
Price to Book	2.82 x	2.87 x	2.69 x	2.62 x	-	3.04 x	2.69 x	2.35 x
Nbr of stocks (in thousands)	518,810	519,660	520,766	521,651	523,076	524,145	-	-
Reference price ²	52.73	57.52	58.84	65.98	97.65	106.7	106.7	106.7
Announcement Date	1/28/20	1/26/21	1/25/22	1/24/23	1/23/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	24,120	17,154	21,834	27,314	33,316	31,820	33,280	36,219
EBITDA ¹	2,998	1,853	2,123	3,422	5,821	5,255	5,574	6,224
EBIT ¹	2,676	1,345	1,853	3,090	5,406	4,775	4,981	5,391
Operating Margin	11.09%	7.84%	8.49%	11.31%	16.23%	15.01%	14.97%	14.88%
Earnings before Tax (EBT) ¹	3,099	1,658	2,379	3,849	5,718	5,624	5,907	6,287
Net income ¹	2,388	1,298	1,852	3,012	4,601	4,381	4,618	4,950
Net margin	9.9%	7.57%	8.48%	11.03%	13.81%	13.77%	13.88%	13.67%
EPS ²	4.580	2.493	3.547	5.753	8.760	8.293	8.706	9.463
Free Cash Flow ¹	2,286	2,437	1,628	2,492	3,495	3,987	4,187	4,422
FCF margin	9.48%	14.21%	7.45%	9.12%	10.49%	12.53%	12.58%	12.21%
FCF Conversion (EBITDA)	76.26%	131.48%	76.67%	72.83%	60.04%	75.88%	75.12%	71.04%
FCF Conversion (Net income)	95.75%	187.68%	87.88%	82.75%	75.97%	91.01%	90.68%	89.32%
Dividend per Share ²	2.387	1.320	1.893	2.793	4.240	4.129	4.228	4.794
Announcement Date	1/28/20	1/26/21	1/25/22	1/24/23	1/23/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	6,296	6,106	6,786	6,687	7,735	8,050	8,441	8,232	8,592	8,235	8,056	7,558	7,541	6,937	-
EBITDA ¹	553.9	668.9	831.2	861.5	1,060	1,403	1,486	1,462	1,511	1,412	1,342	1,248	1,243	1,509	1,486
EBIT ¹	481.4	594.9	749.9	777.1	967.8	1,300	1,384	1,358	1,404	1,308	1,226	1,129	1,106	-	-
Operating Margin	7.65%	9.74%	11.05%	11.62%	12.51%	16.15%	16.39%	16.5%	16.34%	15.88%	15.22%	14.94%	14.67%	-	-
Earnings before Tax (EBT) ¹	651	771.4	922.1	979.7	1,176	919	1,568	1,589	1,641	1,534	1,447	1,322	1,363	1,657	1,628
Net income ¹	511.4	600.5	720.4	769.4	921.3	733.9	1,221	1,228	1,417	1,195	1,128	1,019	1,064	1,197	1,226
Net margin	8.12%	9.83%	10.62%	11.51%	11.91%	9.12%	14.47%	14.92%	16.5%	14.51%	14%	13.49%	14.11%	17.25%	-
EPS ²	0.9800	1.147	1.380	1.473	1.760	1.400	2.330	2.340	2.700	2.270	2.132	1.926	1.985	2.254	2.360
Dividend per Share ²	0.2267	0.2267	0.2267	0.2267	2.113	0.2500	0.2500	0.2700	3.470	0.2700	1.590	1.590	3.125	3.614	0.3570
Announcement Date	1/25/22	4/26/22	7/26/22	10/25/22	1/24/23	4/25/23	7/25/23	10/24/23	1/23/24	4/30/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	5,169	4,834	4,813	6,159	-	10,511	11,775	13,282
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	2,286	2,437	1,628	2,492	3,495	3,987	4,187	4,422
ROE (net income / shareholders' equity)	26.1%	12.9%	17%	24.3%	34.8%	25.3%	24%	22.8%
ROA (Net income/ Total Assets)	8.87%	4.58%	6.44%	9.59%	13.6%	14.8%	14.5%	12.3%
Assets ¹	26,922	28,323	28,781	31,392	33,773	29,596	31,941	40,235
Book Value Per Share ²	18.70	20.00	21.90	25.20	-	35.10	39.70	45.40
Cash Flow per Share ²	6.650	4.500	5.270	5.780	7.980	9.980	10.90	12.20
Capex ¹	574	550	559	535	695	714	694	714
Capex / Sales	2.38%	3.21%	2.56%	1.96%	2.09%	2.24%	2.08%	1.97%
Announcement Date	1/28/20	1/26/21	1/25/22	1/24/23	1/23/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for PACCAR Inc

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

106.7 USD

Average target price

121.2 USD

Spread / Average Target

+13.59%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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