Oshkosh (OSK) AI Stock Analysis

• Market Cap: $6.51B
• Dividend Yield: 1.93%
• Average Volume (3M): 778.69K
• Price to Earnings (P/E): 10.8
• Beta (1Y): 1.26
• Revenue Growth: 5.95%
• EPS Growth: -10.59%
• Country: US
• Employees: 18,000
• Sector: Industrials
• Sector Strength: 92
• Industry: Agricultural - Machinery
• EPS (TTM): 1.92
• Shares Outstanding: 64,373,090
• 10 Day Avg. Volume: 756,515
• 30 Day Avg. Volume: 778,694
• PEG Ratio: 23.48
• Price to Book (P/B): 1.49
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 22.61
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $104.20
• Price Target Upside: 3.11% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 12

• Rating: 76 Outperform
• Price Target: $100.00 ▼(-1.05%Downside)

Oshkosh's stock demonstrates strong financial performance with solid growth and profitability. However, technical indicators are currently bearish, posing potential risks. The company's valuation is attractive, with a low P/E ratio and decent dividend yield. Despite some headwinds from tariffs and defense segment challenges, the earnings call reflected overall positive sentiment with strategic initiatives to mitigate risks.

Positive Factors

Earnings and Financial Performance

Oshkosh started the year on a strong note with reported adjusted EPS significantly ahead of estimates, driven by higher volumes and improved pricing in the Vocational segment.

Guidance and Projections

Management released guidance for 2025 that is ahead of estimates, providing confidence despite a decline in backlog and bookings.

Vocational Segment Performance

OSK's vocational unit is a clear bright spot with a backlog and solid pricing providing a runway into 2026.

Negative Factors

Access Segment Challenges

Risks exist for the Access segment due to weakening construction dynamics and tariff uncertainty.

Aerial Work Platform Segment

A cautious outlook on Oshkosh's performance is influenced by a downturn in the Aerial Work Platform segment, which constitutes a significant portion of the company's operating profit.

USPS Contract Uncertainty

Shares of Oshkosh Corporation fell 5% due to concerns over potential cancellation of USPS contracts for building a large battery electric vehicle fleet.

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 Corporation generates revenue primarily through the sale of its specialty vehicles and vehicle bodies across its various business segments. The Access Equipment segment, which includes products like aerial work platforms and telehandlers, is a significant revenue generator, serving industries such as construction and maintenance. The Defense segment provides military vehicles and related services, often through contracts with the U.S. Department of Defense, contributing substantially to the company's earnings. The Fire & Emergency segment offers firefighting vehicles and equipment to municipal and industrial fire departments, while the Commercial segment provides refuse collection vehicles and concrete mixers. Oshkosh also benefits from aftermarket parts and services, enhancing its revenue streams by supporting long-term customer relationships. Strategic partnerships and government contracts play a crucial role in the company’s financial success, providing stable and recurring income.

Oshkosh Financial Statement Overview

Summary

Oshkosh shows strong financial performance with significant revenue growth, robust profit margins, and improved leverage. However, cash flow generation could be enhanced further.

Income Statement

Oshkosh has demonstrated strong revenue growth, with a 11.26% increase from 2023 to 2024. The company's gross profit margin is healthy at 18.35%, and the net profit margin is robust at 6.35% for 2024. The EBIT and EBITDA margins have also improved to 9.42% and 11.39%, respectively, indicating efficient operational management and cost control. Overall, the income statement reflects a positive growth trajectory and stable profitability.

Balance Sheet

The debt-to-equity ratio improved to 0.23 in 2024, indicating a strong capital structure with reduced leverage. The equity ratio stands at 44.05%, showing a stable financial position with a significant proportion of assets funded by equity. Return on equity increased to 16.41%, reflecting efficient utilization of shareholders' equity to generate profits. The balance sheet is strong with manageable debt levels and solid equity.

Cash Flow

Free cash flow experienced a slight decline of 1.89% in 2024, while operating cash flow to net income ratio is stable at 0.81, indicating good cash generation from operations. The free cash flow to net income ratio is at 0.39, suggesting room for improvement in converting net income to free cash flow. Overall, the cash flow statement shows satisfactory performance, but with potential to enhance free cash flow generation.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Sep 2021	Sep 2020
Income Statement		Total Revenue
10.73B	9.65B	8.28B	7.74B	6.86B
	Gross Profit
1.97B	1.77B	1.05B	1.22B	1.12B
	EBIT
1.01B	843.80M	372.30M	544.70M	488.70M
	EBITDA
1.22B	988.70M	444.30M	650.10M	602.60M
	Net Income Common Stockholders
681.40M	598.00M	173.90M	472.70M	324.50M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
204.90M	125.40M	805.90M	1.38B	582.90M
	Total Assets
9.42B	9.13B	7.73B	6.89B	5.82B
	Total Debt
961.80M	1.08B	604.70M	818.80M	823.10M
	Net Debt
756.90M	952.30M	-201.20M	-557.00M	240.20M
	Total Liabilities
5.27B	5.42B	4.54B	3.64B	2.97B
	Stockholders Equity
4.15B	3.71B	3.19B	3.25B	2.85B
Cash Flow		Free Cash Flow
269.10M	274.30M	321.60M	1.11B	197.10M
	Operating Cash Flow
550.10M	599.60M	601.30M	1.22B	327.30M
	Investing Cash Flow
-388.80M	-1.29B	-300.40M	-245.60M	-77.60M
	Financing Cash Flow
-75.10M	3.40M	-485.00M	-180.40M	-115.50M

Oshkosh Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 101.06
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• 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 101.06 is above the 20-day moving average (MA) of 94.68, above the 50-day MA of 91.60, and above the 200-day MA of 99.11, indicating a bullish trend. The MACD of 3.06 indicates Negative momentum. The RSI at 63.21 is Neutral, neither overbought nor oversold. The STOCH value of 41.53 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	76 Outperform	$6.51B	10.80	15.24%	1.93%	5.95%	-10.59%
TEX	75 Outperform	$3.10B	12.87	13.85%	1.52%	-2.78%	-51.72%
LNN	73 Outperform	$1.52B	19.90	15.38%	1.04%	0.46%	12.22%
REVG	73 Outperform	$1.94B	21.16	20.13%	0.59%	-12.16%	-56.14%
ALG	70 Neutral	$2.44B	21.02	11.48%	0.57%	-6.43%	-14.68%
ASTE	66 Neutral	$886.10M	58.92	2.33%	1.34%	1.99%	-39.02%
Sector *	65 Neutral	$4.41B	12.06	5.22%	249.80%	4.09%	-12.16%

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.