CNH Industrial NV (CNH) is overvalued and Paccar Inc (PCAR) is slightly undervalued.
Against our estimates of intrinsic value, PCAR trades at the wider discount: a margin of safety of +6%, against -308% for CNH.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.5% (average of 3 methods) values the shares at $3.35; the price of $13.67 is 308% above that value, and 80% of that value comes from beyond year five.
Leak Score 0/100 on 3 of 12 signals
Discounting its cash flows at 9.5% (average of 3 methods) values the shares at $121.43; the price of $113.90 is 6% below that value, and 76% of that value comes from beyond year five.
Leak Score 56/100 on 9 of 12 signals
| Metric | CNH | PCAR |
|---|---|---|
| Verdict | Overvalued | Slightly undervalued |
| Price | $13.67 | $113.90 |
| Intrinsic value | $3.35 | $121.43 |
| Margin of safety | -308% | +6% |
| Leak Score | 0/100 (3/12) | 56/100 (9/12) |
| Market cap | $16.9B | $60.0B |
| Revenue growth, 5 years | -7.0% | 8.7% |
| Operating margin | 13.3% | 10.4% |
| Net margin | 1.7% | 9.0% |
| Return on equity | 4.0% | 12.8% |
| Debt to equity | 3.39 | 0.72 |
| P/E | 54.8x | 24.0x |
| Forward P/E | 20.7x | 15.8x |
| P/B | 2.2x | 3.0x |
| Dividend yield | 1.1% | 2.9% |