Oshkosh (OSK) AI Stock Analysis

• Market Cap: $9.12B
• Dividend Yield: 1.4%
• Average Volume (3M): 659.21K
• Price to Earnings (P/E): 14.3
• Beta (1Y): 1.34
• Revenue Growth: 0.41%
• EPS Growth: -3.90%
• Country: US
• Employees: 18,000
• Sector: Industrials
• Sector Strength: 79
• Industry: Agricultural - Machinery
• EPS (TTM): 3.41
• Shares Outstanding: 64,000,310
• 10 Day Avg. Volume: 489,246
• 30 Day Avg. Volume: 659,213
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.95
• Enterprise Value/Revenue: 0.83
• Enterprise Value/Gross Profit: 4.61
• Enterprise Value/Ebitda: 7.24
• 1Y Price Target: $149.50
• Price Target Upside: 4.95% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 15

• Rating: 78 Outperform
• Price Target: $161.00 ▲(13.02% Upside)

Oshkosh's strong financial performance and positive earnings call are the most significant factors driving the score. The technical analysis indicates bullish momentum, although caution is advised due to overbought signals. The valuation is reasonable, supporting a stable investment outlook.

Positive Factors

Corporate Actions

OSK repurchased 414,755 shares of common stock in Q2 for $40 million, indicating confidence in its own valuation.

Earnings

Oshkosh Corporation's second quarter adjusted operating income margin was better than expected at 11.5%, surpassing market expectations.

Financial Performance

The company's free cash flow guidance of $400-500 million is ahead of market consensus and previous estimates.

Negative Factors

Backlog Concerns

Access headwinds persist with a backlog of $1.2 billion falling 64%, requiring a level of orders to hit the second half sales.

Macroeconomic Risks

Macroeconomic factors, tariffs, and competition remain a near-term risk capping OSK's share performance.

Market Demand

Oshkosh Corporation's Access sales are being impacted by higher sales discounts, raising concerns about demand for aerial equipment.

Oshkosh Business Overview & Revenue Model

Company Description

Oshkosh Corporation designs, manufactures, and markets specialty vehicles and vehicle bodies worldwide. The company's Access Equipment segment provides aerial work platforms and telehandlers for use in various construction, industrial, institutional, and general maintenance applications. This segment also offers rental fleet loans and leases, and floor plan and retail financing through third-party funding arrangements; towing and recovery equipment; carriers and wreckers; equipment installation services; and chassis and service parts sales. Its Defense segment provides heavy, medium, and light tactical wheeled vehicles and related services for the department of defense. The company's Fire & Emergency segment offers custom and commercial firefighting vehicles and equipment; and commercial fire apparatus and emergency vehicles, such as pumpers, aerial platform, ladder and tiller trucks, tankers, rescue vehicles, wild land rough terrain response vehicles, mobile command and control centers, bomb squad vehicles, hazardous materials control vehicles, and other emergency response vehicles. This segment also provides aircraft rescue and firefighting, snow removal, and broadcast vehicles, as well as command trucks, and military simulator shelters and trailers. Its Commercial segment offers front-and rear-discharge concrete mixers for the concrete ready-mix industry; refuse collection vehicles and related components to commercial and municipal waste haulers; and field service vehicles and truck-mounted cranes for the construction, equipment dealer, building supply, utility, tire service, railroad, and mining industries. Oshkosh Corporation provides its products through direct sales representatives, dealers, and distributors. The company was formerly known as Oshkosh Truck Corporation and changed its name to Oshkosh Corporation in February 2008. Oshkosh Corporation was founded in 1917 and is headquartered in Oshkosh, Wisconsin.

How the Company Makes Money

Oshkosh generates revenue through the sale of its specialty vehicles and related services. The company has several key revenue streams, including the Defense segment, which provides military vehicles to government entities, leading to long-term contracts and recurring sales. The Fire & Emergency segment relies on both new vehicle sales and aftermarket parts and services, ensuring ongoing revenue from maintenance and repairs. The Access Equipment segment focuses on aerial work platforms, with revenue coming from both equipment sales and rental services. Significant partnerships with government agencies, municipal fire departments, and construction companies bolster Oshkosh's earnings, as do its investments in innovation and technology to enhance product offerings and meet evolving market needs.

Oshkosh Financial Statement Overview

Summary

Oshkosh is in a strong financial position, with robust profitability and effective cash flow management. The company's income statement highlights strong revenue and profit growth, while the balance sheet reflects a stable equity base despite increasing leverage. Cash flow statements indicate sustained cash generation, although monitoring of cash flow trends is advised.

Income Statement

Oshkosh has demonstrated strong financial performance in the TTM (Trailing-Twelve-Months) with a robust gross profit margin of 17.96% and a solid net profit margin of 5.85%. Revenue growth has been steady, with an increase from $9.65 billion in 2023 to $10.73 billion in 2024, and further to $10.50 billion in TTM. The company's EBIT and EBITDA margins are healthy at 9.31% and 11.36%, respectively. Overall, the income statement reflects strong profitability and effective cost management.

Balance Sheet

The balance sheet shows a stable financial position with a debt-to-equity ratio of 0.35, indicating moderate leverage. The return on equity (ROE) is a strong 14.50%, reflecting efficient use of shareholder funds. An equity ratio of 43.38% suggests a solid equity base supporting assets. However, the increase in total debt from $961.8 million in 2024 to $1.48 billion in TTM indicates a rise in leverage, which could pose future risks.

Cash Flow

Oshkosh's cash flow position is strong, with a consistent generation of free cash flow, reflecting a growth rate of 7.69% from 2024 to TTM. The operating cash flow to net income ratio stands at 0.83, and the free cash flow to net income ratio is 0.47, highlighting effective cash generation relative to profitability. However, a decrease in operating cash flow from $599.6 million in 2023 to $511 million in TTM warrants attention for future cash flow management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	10.38B	10.73B	9.65B	8.28B	7.74B	6.86B
Gross Profit	1.88B	1.97B	1.77B	1.05B	1.22B	1.12B
EBITDA	1.20B	1.22B	988.70M	444.30M	650.10M	602.60M
Net Income	650.40M	681.40M	598.00M	173.90M	472.70M	324.50M
Balance Sheet
Total Assets	10.02B	9.42B	9.13B	7.73B	6.89B	5.82B
Cash, Cash Equivalents and Short-Term Investments	191.70M	204.90M	125.40M	805.90M	1.38B	582.90M
Total Debt	1.50B	961.80M	1.08B	604.70M	818.80M	823.10M
Total Liabilities	5.56B	5.27B	5.42B	4.54B	3.64B	2.97B
Stockholders Equity	4.45B	4.15B	3.71B	3.19B	3.25B	2.85B
Cash Flow
Free Cash Flow	588.90M	269.10M	274.30M	321.60M	1.11B	197.10M
Operating Cash Flow	811.20M	550.10M	599.60M	601.30M	1.22B	327.30M
Investing Cash Flow	-338.60M	-388.80M	-1.29B	-300.40M	-245.60M	-77.60M
Financing Cash Flow	-428.50M	-75.10M	3.40M	-485.00M	-180.40M	-115.50M

Oshkosh Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 142.45
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OSK, the sentiment is Positive. The current price of 142.45 is above the 20-day moving average (MA) of 135.85, above the 50-day MA of 125.94, and above the 200-day MA of 105.30, indicating a bullish trend. The MACD of 4.42 indicates Positive momentum. The RSI at 68.48 is Neutral, neither overbought nor oversold. The STOCH value of 74.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for OSK.

Oshkosh Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OSK	78 Outperform	$9.12B	14.26	15.52%	1.40%	0.41%	-3.90%
TEX	77 Outperform	$3.38B	19.23	9.45%	1.32%	-0.35%	-63.44%
REVG	77 Outperform	$2.55B	28.05	34.41%	0.43%	-9.50%	-54.36%
LNN	75 Outperform	$1.52B	20.55	15.06%	1.01%	9.46%	5.91%
ALG	74 Outperform	$2.65B	22.55	11.30%	0.53%	-4.91%	-7.08%
ASTE	71 Outperform	$1.05B	23.03	7.02%	1.13%	1.17%	―
Sector *	64 Neutral	$10.82B	16.31	8.85%	2.03%	2.58%	-16.43%

Oshkosh Corporate Events

Oshkosh Finalizes Board Elections and Auditor Approval

On May 6, 2025, Oshkosh Corporation held its Annual Meeting of Shareholders, where the election results for board directors were finalized. The shareholders elected several directors for terms expiring in 2026 and ratified Deloitte & Touche LLP as the independent auditor for the fiscal year ending December 31, 2025. Additionally, a nonbinding resolution approving the compensation of the company’s named executive officers was passed.