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Paccar cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$711M in Q3 2026 · $3.0B over twelve months

Operating cash flow$848M
Capital spending−$137M
Free cash flow+$711M
Cash / net income1.0×

Analysis

In Q3 2026, Paccar generated $848M of operating cash flow and spent $137M on capital projects, leaving free cash flow of $711M. That is $651M less than in Q3 2025 ($1.4B).

Over the twelve months to Sep 30, 2026, operating cash flow was $3.7B; the largest uses were other investing ($1.6B), dividends ($1.5B), net borrowing (+) / repaid (−) ($829M); besides operations, cash came from asset & business sales ($672M), shares issued ($71.2M); the cash balance fell by $152M.

Operating cash flow was $848M against net income of $848M — 1.0× profit, roughly in line with earnings. The largest differences: payables +$293M, receivables −$233M, inventory −$228M.

Free cash flow

Paccar: free cash flow by quarterPaccar: free cash flow by quarter$1.2BQ4 2024$578MQ1 2025$611MQ2 2025$1.4BQ3 2025$954MQ4 2025$825MQ1 2026$555MQ2 2026$711MQ3 2026
Operating cash flow less capital spending.
Paccar: operating cash flow against capital spendingPaccar: operating cash flow against capital spendingOperating cash flowCapital spending$1.4B$233MQ4 2024$910M$333MQ1 2025$833M$222MQ2 2025$1.5B$166MQ3 2025$1.1B$190MQ4 2025$972M$147MQ1 2026$701M$145MQ2 2026$848M$137MQ3 2026
Latest (Q3 2026): Operating cash flow $848M, Capital spending $137M.

Capital allocation, year by year

Paccar: where the cash came from (up) and went (down), by fiscal yearPaccar: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $2.2BFY2021: Net borrowing −$212MFY2021: Shares issued $38.4MFY2021: Asset sales $904MFY2021: Capital spending −$1.6BFY2021: Buybacks −$1.5MFY2021: Dividends −$708M$3.1BFY2021FY2022: Operating cash flow $3.0BFY2022: Net borrowing $1.3BFY2022: Shares issued $35.8MFY2022: Asset sales $688MFY2022: Capital spending −$1.4BFY2022: Buybacks −$2.1MFY2022: Dividends −$1.0B$5.0BFY2022FY2023: Operating cash flow $4.2BFY2023: Net borrowing $2.6BFY2023: Shares issued $51.7MFY2023: Asset sales $614MFY2023: Capital spending −$1.3BFY2023: Buybacks −$3.5MFY2023: Dividends −$1.5B$7.4BFY2023FY2024: Operating cash flow $4.6BFY2024: Net borrowing $2.1BFY2024: Shares issued $52.0MFY2024: Asset sales $696MFY2024: Capital spending −$1.7BFY2024: Buybacks −$4.5MFY2024: Dividends −$2.3B$7.5BFY2024FY2025: Operating cash flow $4.4BFY2025: Net borrowing −$823MFY2025: Shares issued $43.6MFY2025: Asset sales $681MFY2025: Capital spending −$743MFY2025: Buybacks −$36.1MFY2025: Dividends −$2.3B$5.1BFY2025
Over these 5 years operating cash flow totalled $18.5B; the largest uses were dividends ($7.8B) and capital spending ($6.7B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$0
Debtnone
Net cash$0

Paccar funds itself: free cash flow was $3.0B over the last twelve months, with $0 of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Paccar: sources (+) and uses (−) of cash, Q3 2026Paccar: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$848MCash drawn (+) / kept (−)−$577MOther investing−$417MNet borrowing (+) / repaid (−)$311MDividends−$184MAsset & business sales$159MCapital spending−$137MExchange rates−$13.1MShares issued$11.6MBuybacks−$800K
Paccar: sources (+) and uses (−) of cash, TTM to Q3 2026Paccar: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$3.7BOther investing−$1.6BDividends−$1.5BNet borrowing (+) / repaid (−)−$829MAsset & business sales$672MCapital spending−$619MCash drawn (+) / kept (−)$152MShares issued$71.2MExchange rates−$20.6MBuybacks−$6.5M

From profit to cash

Paccar: net income to operating cash flow, Q3 2026Paccar: net income to operating cash flow, Q3 2026Net income$848MDepreciation & amortization$114MStock-based pay$3.6MDeferred taxes$66.8MOther non-cash−$33.2MReceivables−$233MInventory−$228MPayables$293MOther liabilities$144MOperating cash flow$848M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$848M−$137M−$800K−$184M$311M$11.6M−$577M$711M
Q2 2026$701M−$145M—−$184M−$227M$4.9M$70.1M$555M
Q1 2026$972M−$147M−$4.8M−$909M−$680M$42.4M$663M$825M
Q4 2025$1.1B−$190M−$900K−$173M−$233M$12.3M−$4.0M$954M
Q3 2025$1.5B−$166M−$200K−$173M−$94.7M$6.3M−$754M$1.4B
Q2 2025$833M−$222M−$30.7M−$173M−$89.4M$2.3M−$32.2M$611M
Q1 2025$910M−$333M−$4.3M−$1.7B−$406M$22.5M$1.5B$578M
Q4 2024$1.4B−$233M—−$157M$794M$6.6M−$212M$1.2B

Paccar: income statement and cash flow

Paccar, Q3 2026: revenue $7.9B (+19% year over year), operating margin 13.6%. The chart follows the revenue to costs, profit and cash.

Paccar: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.