PACCAR
27 named things its latest annual report says its results depend on, each in the company's own words. 14 of them are also named by other companies we've read.
Customers
Commercial trucking companies and owner/operators
insures or lends to · 51% of total assetsnamed as a riskPFS accounted for 8% of total net sales and revenues and 51% of total assets in 2025.Business (Item 1)
Independent dealers
earns fromSubstantially all trucks are sold to independent dealers.Business (Item 1)
Suppliers
Renault V.I.
depends on · approximately 2% of consolidated revenuesnamed as a riskThe Company’s DAF subsidiary purchases fully assembled cabs from a competitor, Renault V.I., for its European light-, medium-duty product line pursuant to a joint product development and long-term supply contract.Business (Item 1)
Cummins Inc.
depends onnamed as a riskA loss of supply from Cummins, Eaton, ZF or Magna, and the resulting interruption in the production of trucks, would have a material effect on the Company’s results.Business (Item 1)
Eaton Corporation Plc
depends onnamed as a riskThe Company purchased a significant portion of its transmissions from Eaton Corporation Plc. (Eaton) and ZF Friedrichshafen AG (ZF).Business (Item 1)
ZF Friedrichshafen AG
depends onnamed as a riskThe Company purchased a significant portion of its transmissions from Eaton Corporation Plc. (Eaton) and ZF Friedrichshafen AG (ZF).Business (Item 1)
Also named by ALSN
Magna International Inc.
depends onnamed as a riskThe Company also purchased a significant portion of North America stampings used for cabs from Magna International Inc. (Magna).Business (Item 1)
Partners and platforms
Battery manufacturing joint venture (Cummins, Daimler Trucks, EVE Energy)
21-gigawatt hour (GWh)PACCAR, Cummins, Daimler Trucks and EVE Energy have partnered to produce state-of-the-art commercial vehicle batteries in a 21-gigawatt hour (GWh) factory in Marshall County, Mississippi.Business (Item 1)
Other companies
Euro
exposed to its price · $96.8named as a riskThe Company enters into foreign currency exchange contracts to hedge its exposure to exchange rate fluctuations of foreign currencies, particularly the Canadian dollar, the euro, the British pound, the Australian dollar, the Brazilian real and the Mexican peso (see Note P for additional information concerning these hedges).Market risk (Item 7A)
Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more
Commercial paper and medium-term notes markets
depends onnamed as a riskIf the markets for commercial paper, medium-term notes and bank debt do not provide the necessary liquidity in the future, the Financial Services segment may experience increased costs or may have to limit its financing of retail and wholesale assets.Risk factors (Item 1A)
Places
U.S. and Canada Class 8 truck market
earns from · 29.9% of retail salesThe Company’s share of the U.S. and Canadian Class 8 market was 29.9% of retail sales in 2025, and the Company’s medium-duty market share was 15.9%.Business (Item 1)
European heavy-duty truck market
earns from · 13.5% shareIn 2025, DAF had a 13.5% share of the European heavy-duty market and a 9.7% share of the light/medium-duty market.Business (Item 1)
Netherlands
operates inPACCAR competes in the European light/medium market with DAF COE trucks assembled in the United Kingdom (U.K.) by Leyland, one of PACCAR’s wholly owned subsidiaries, and participates in the European heavy market with DAF COE trucks assembled in the Netherlands and the U.K.Business (Item 1)
Columbus, Mississippi
operates inThe Company also manufactures engines at its Columbus, Mississippi facility.Business (Item 1)
Also named by STLD
Commodities and inputs
Steel
exposed to its price · approximately 85% of the cost of new trucksnamed as a riskThe Company’s costs for trucks consist primarily of material costs, which are influenced by the price of commodities such as steel, copper, aluminum and petroleum.Business (Item 1)
Also named by AAON, AGX, ALSN, AM, AME, AMRC, AOS, APD and 104 more
Copper
exposed to its pricenamed as a riskThe Company’s costs for trucks consist primarily of material costs, which are influenced by the price of commodities such as steel, copper, aluminum and petroleum.Business (Item 1)
Also named by AAON, AGX, AMKR, APG, APH, APLD, BMI, BWA and 58 more
Aluminum
exposed to its pricenamed as a riskThe Company’s costs for trucks consist primarily of material costs, which are influenced by the price of commodities such as steel, copper, aluminum and petroleum.Business (Item 1)
Also named by AAON, ACHR, ALSN, AYI, BA, BALL, BF/B, BWA and 59 more
Petroleum
exposed to its pricenamed as a riskThe Company’s costs for trucks consist primarily of material costs, which are influenced by the price of commodities such as steel, copper, aluminum and petroleum.Business (Item 1)
Used truck prices
exposed to its pricenamed as a riskA decline in the Company’s truck unit sales or a decrease in used truck prices are also factors which may affect the Company’s Financial Services segment.Risk factors (Item 1A)
Regulators
U.S. Environmental Protection Agency (EPA)
subject tonamed as a riskThese include standards imposed by the U.S. Environmental Protection Agency (EPA), the European Union, U.S. state regulatory agencies (such as the California Air Resources Board), regulatory agencies in other international markets where the Company operates, and international accords.Risk factors (Item 1A)
Also named by AAON, AAP, ALSN, AMRC, APA, APD, APG, AROC and 78 more
California Air Resources Board (CARB)
subject tonamed as a riskCARB's authority to enact the ACT regulations has been revoked by the U.S. Congress and President; however, the revocation, is currently being challenged and the outcome is uncertain.Risk factors (Item 1A)
Also named by CMI, CRC, CVLG, F, FND, GM, GNRC, HTLD and 11 more
National Highway Traffic Safety Administration (NHTSA)
subject toAs a manufacturer of highway trucks, the Company is subject to the National Traffic and Motor Vehicle Safety Act and Federal Motor Vehicle Safety Standards promulgated by the National Highway Traffic Safety Administration as well as environmental laws and regulations in the United States, and is subject to similar regulations in all countries where it has operations and where its trucks are distributed.Business (Item 1)
Laws and programs
EPA Low NOx Rule
subject tonamed as a riskThe primary laws and regulations are the EPA’s Greenhouse Gas Emissions Standards and Fuel Efficiency Standards for Medium and Heavy-Duty Engines and Vehicles, EPA’s Low NOx Rule, the Regulation of the European Parliament and of the Council on the Monitoring and Reporting of CO2 Emissions from Fuel Consumption of New Heavy-Duty Vehicles, and the Heavy-Duty Omnibus Regulation and, subject to pending litigation, the Advanced Clean Truck (ACT) regulation of the California Air Resources Board.Business (Item 1)
EPA Greenhouse Gas Emissions and Fuel Efficiency Standards for Medium and Heavy-Duty Engines and Vehicles
subject tonamed as a riskThe primary laws and regulations are the EPA’s Greenhouse Gas Emissions Standards and Fuel Efficiency Standards for Medium and Heavy-Duty Engines and Vehicles, EPA’s Low NOx Rule, the Regulation of the European Parliament and of the Council on the Monitoring and Reporting of CO2 Emissions from Fuel Consumption of New Heavy-Duty Vehicles, and the Heavy-Duty Omnibus Regulation and, subject to pending litigation, the Advanced Clean Truck (ACT) regulation of the California Air Resources Board.Business (Item 1)
EU Heavy-Duty Vehicle CO2 Emission Standards
subject tonamed as a riskNot meeting these targets would result in significant fines by the EU Commission.Risk factors (Item 1A)
California Advanced Clean Trucks (ACT) regulation
subject tonamed as a riskCalifornia's ACT regulation, which has been adopted by several states, requires an increasing percentage of medium- and heavy-duty trucks sold into the state to be zero emission.Risk factors (Item 1A)