Allison Transmission vs Oshkosh
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KIRA’s take AI analyst
I put Allison Transmission and Oshkosh side by side, using each one’s latest annual report. Here is what stands out:
- Oshkosh is the larger business, with $10.4B of revenue in fiscal 2025 against $3.0B for Allison Transmission, about 3.5 times as much.
- Oshkosh grew revenue faster (−2.9%, against −6.7%).
- Allison Transmission kept more of each dollar of sales as operating profit (29.2% operating margin, against 9.0%).
- Allison Transmission turned more of its sales into free cash flow (22.0% FCF margin, against 5.9%).
- Allison Transmission earned a higher return on the capital invested in it (20.8%, against 14.8%).
- Investors pay more for each dollar of Allison Transmission’s earnings: a P/E of 17.1x against 14.8x for Oshkosh.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Allison Transmission
ALSN
8/11
Gross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreShare count change
Oshkosh
OSK
3/11
Revenue growth5-year growthNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | ALSN FY25 | OSK FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.0B | $8.4B |
| Revenue | $3.0B | $10.4B |
| Free cash flow | $661M | $618M |
| Net income | $623M | $647M |
| Growth | ||
| Revenue growth | −6.7% | −2.9% |
| 5-year growth | 7.7% | 8.7% |
| Share count change | −3.4% | −1.9% |
| Profitability | ||
| Gross margin | 48.6% | 17.5% |
| Operating margin | 29.2% | 9.0% |
| Net margin | 20.7% | 6.2% |
| FCF margin | 22.0% | 5.9% |
| Return on capital | 20.8% | 14.8% |
| Return on equity | 35.4% | 14.9% |
| Balance sheet | ||
| Net debt | $1.4B | $692M |
| Net debt / EBITDA | 1.4x | 0.6x |
| Dividends and buybacks | $419M | $408M |
| Valuation & quality | ||
| P/E | 17.1x | 14.8x |
| Piotroski F-score | 6 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.