PACCAR Inc stock research
FY2026 Q1
PACCAR (PCAR) Gross Margin & Quarterly History
Explore PACCAR Inc (PCAR) gross margin from 2023 through the latest reported quarter, using SEC-sourced revenue, gross profit, and direct costs.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue was similar to the prior quarter while cost decreased, leading to an improved gross margin. Compared to the same quarter last year, both revenue and cost were lower and gross margin declined slightly.
- The most observable margin driver is the relative change in cost of revenue. The sequential improvement came from lower costs with stable revenue, while the year-over-year weakening reflected a less proportional cost reduction relative to the revenue decline.
- Compared to the prior quarter, gross margin improved as cost decreased while revenue held steady. Versus the same quarter last year, gross margin weakened as revenue declined more than cost.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
20.1%
Gross profit
$1.4B
Revenue
$6.8B
Cost of revenue
$5.4B
Quarter-over-quarter change
+0.8 pts
Year-over-year change
-0.8 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2025 | $7.5B | $1.5B | $6.0B | 20.2% |
| Sep 30, 2025 | $6.7B | $1.3B | $5.3B | 19.9% |
| Dec 31, 2025 | $6.8B | $1.3B | $5.5B | 19.3% |
| Mar 31, 2026 | $6.8B | $1.4B | $5.4B | 20.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
+0.8 pts
Year-over-year change
Mar 31, 2025
-0.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most observable margin driver is the relative change in cost of revenue. The sequential improvement came from lower costs with stable revenue, while the year-over-year weakening reflected a less proportional cost reduction relative to the revenue decline.
Compared to the prior quarter, gross margin improved as cost decreased while revenue held steady. Versus the same quarter last year, gross margin weakened as revenue declined more than cost.
Monitor the trend of cost of revenue relative to revenue, as gross margin has shown sensitivity to cost movements.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| PACCAR Inc (PCAR) | 20.1% |