Oshkosh
OSK NYSE· Construction Machinery & Heavy Transportation Equipment
Last close · Oct 26, 2026
$133.34
KIRA · Stoqly’s AI analyst, in plain words
- Oshkosh had $10.4B of revenue in fiscal 2025, down 2.9% on the year before. Over five years, revenue changed +8.7% a year on average.
- Its operating margin was 9.0%, down 0.4 pts: of every 100 in sales, about 9 is left after running the business.
- Oshkosh made $647M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 14.7% a year.
- Free cash flow was $618M in fiscal 2025, 5.9% of revenue.
- Oshkosh returned $408M to shareholders in fiscal 2025, 66% of free cash flow. The diluted share count fell 1.9%.
- Oshkosh owes $692M more than it holds in cash, about 0.6 years of operating profit.
Market cap
$8.4B
P/E
14.8x
Revenue
$10.4B
Net income
$647M
Free cash flow
$618M
Operating margin
9.0%
Oshkosh in 30 seconds · fiscal 2025
Are sales growing?
−2.9%
No. Sales fell 2.9% last year.
Does it make a profit?
6.2%
A little. It keeps 6.2% of every sale as profit.
Does profit turn into cash?
5.9%
Partly. 5.9% of sales ends up as free cash.
Is debt under control?
0.6x
Yes. It could repay its debt with 0.6 years of operating profit.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 health tests.
How is the share priced?
14.8x
One share costs 14.8 times its yearly profit per share. Typical for its sector: 26.0x.
What Oshkosh does
Oshkosh designs and builds specialty vehicles and equipment for construction, firefighting, airports, refuse collection, defense and mail delivery. Its brands include JLG and SkyTrak (lifts and material handling equipment), Pierce (fire trucks), McNeilus (garbage and recycling trucks), Jerr-Dan (tow trucks) and Oshkosh Defense. It has three segments. Access made 43% of 2025 net sales. It sells lifts and handling equipment mostly to equipment rental companies, construction contractors and home improvement centers. Vocational made 36%. It sells fire trucks, airport ground equipment, airport rescue vehicles and refuse trucks, mainly to city and commercial customers in North America. Transport made 20%. It builds military trucks and other vehicles for the U.S. Department of Defense and approved foreign customers, and the Next Generation Delivery Vehicle for the U.S. Postal Service. Sales to the U.S. government were about 20% of net sales in 2025, mostly under multi-year defense contracts.
Biggest risks, in its own words
- Highly cyclical markets, where downturns could hurt its operating performance.
- Its performance under the U.S. Postal Service delivery vehicle contract may not be what it expects.
- Dependence on U.S. and foreign government contracts for a significant part of its sales.
- Changes in trade policy, and swings in prices of raw materials and other inputs.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 17, 2026
- Legal name
- Oshkosh Corporation
- CIK
- 0000775158
Oshkosh · OSK
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $7.7B | $8.3B | $9.7B | $10.7B | $10.4B |
| Revenue growth | 12.8% | 7.0% | 16.6% | 11.1% | −2.9% |
| Gross margin | 16.4% | 12.7% | 17.4% | 18.4% | 17.5% |
| Operating margin | 7.7% | 4.5% | 8.7% | 9.4% | 9.0% |
| Net income | $509M | $174M | $598M | $681M | $647M |
| Net margin | 6.6% | 2.1% | 6.2% | 6.4% | 6.2% |
| Diluted EPS | $7.35 | $2.63 | $9.08 | $10.35 | $10.02 |
| Cash | |||||
| Cash from operations | $1.2B | $601M | $600M | $550M | $783M |
| Capital expenditure | $104M | $270M | $325M | $281M | $165M |
| Free cash flow | $1.1B | $332M | $274M | $269M | $618M |
| FCF margin | 14.4% | 4.0% | 2.8% | 2.5% | 5.9% |
| Dividends paid | $90.4M | $97.3M | $107M | $120M | $130M |
| Share buybacks | $108M | $155M | $22.5M | $116M | $278M |
| Share count change | 0.6% | −4.4% | −0.4% | −0.1% | −1.9% |
| Debt and strength | |||||
| Cash and short-term investments | $1.4B | $806M | $125M | $205M | $480M |
| Debt incl. finance leases | $841M | $633M | $657M | $658M | $1.2B |
| Shareholders' equity | $3.4B | $3.2B | $3.7B | $4.2B | $4.5B |
| Net debt / EBITDA | −0.8x | −0.4x | 0.5x | 0.4x | 0.6x |
| Current ratio | 2.1x | 1.9x | 1.5x | 1.5x | 1.9x |
| Interest coverage | 12.3x | 7.0x | 12.2x | 8.5x | 8.0x |
| Returns and quality | |||||
| Return on capital | 18.4% | 8.2% | 17.6% | 17.5% | 14.8% |
| Return on equity | 16.4% | 5.3% | 17.4% | 17.3% | 14.9% |
| Piotroski F-score | 7 | 5 | 8 | 6 | 5 |
| Altman Z'' | 5.3 | 4.2 | 3.7 | 4.1 | 4.7 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$2.0M
5 insiders
Of sales under plans
9%
$0.2M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Oshkosh · OSK
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Oshkosh OSK | $8.4B | −2.9% | 9.0% | 5.9% | 14.8% | 14.8x | 5 |
| Wabtec WAB | $46.9B | 7.5% | 16.1% | 13.4% | 9.1% | 34.5x | 7 |
| Terex TEX | $5.8B | 5.7% | 8.8% | 5.9% | 9.0% | — | 6 |
| Paccar PCAR | $55.1B | −15.5% | — | 12.9% | — | 21.9x | — |
| Cummins CMI | $72.3B | −1.3% | 12.0% | 7.1% | 18.3% | 26.7x | 7 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $133.34 a share, the company is worth $8.4B: 14.8 times its earnings of the last four quarters.
Oshkosh grew sales faster than 1 of its 4 similar companies. Its P/E is higher than 0 of 3.
Source: SEC EDGAR XBRL filings (CIK 0000775158). Data updated October 11, 2026. For information only — not investment advice. Check the original filings before relying on any figure.