Oshkosh vs Terex
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The short version
- Oshkosh is the larger business, with $10.4B of revenue in fiscal 2025 against $5.4B for Terex, about 1.9 times as much.
- Terex grew revenue faster (5.7%, against −2.9%).
- Oshkosh earned a higher return on the capital invested in it (14.8%, against 9.0%).
| Latest fiscal year | OSK · FY25 | TEX · FY25 |
|---|---|---|
| Size | ||
| Market cap | $8.3B | $5.9B |
| Revenue | $10.4B | $5.4B |
| Free cash flow | $618M | $322M |
| Net income | $647M | $221M |
| Growth | ||
| Revenue growth | −2.9% | 5.7% |
| 5-year growth | 8.7% | 12.0% |
| Share count change | −1.9% | −1.9% |
| Profitability | ||
| Gross margin | 17.5% | 19.4% |
| Operating margin | 9.0% | 8.8% |
| Net margin | 6.2% | 4.1% |
| FCF margin | 5.9% | 5.9% |
| Return on capital | 14.8% | 9.0% |
| Return on equity | 14.9% | 11.3% |
| Balance sheet | ||
| Net debt | $692M | $1.8B |
| Net debt / EBITDA | 0.6x | 2.9x |
| Dividends and buybacks | $408M | $101M |
| Valuation & quality | ||
| P/E | 14.7x | — |
| Piotroski F-score | 5 | 6 |
Revenue
FY16
OSK $6.3B
TEX $4.4B
FY17
OSK $6.8B
TEX $3.8B
FY18
OSK $7.7B
TEX $4.5B
FY19
OSK $8.4B
TEX $4.4B
FY20
OSK $6.9B
TEX $3.1B
FY21
OSK $7.7B
TEX $3.9B
FY22
OSK $8.3B
TEX $4.4B
FY23
OSK $9.7B
TEX $5.2B
FY24
OSK $10.7B
TEX $5.1B
FY25
OSK $10.4B
TEX $5.4B
OSK
TEX
Operating margin
FY16
OSK 5.8%
TEX −3.2%
FY17
OSK 6.9%
TEX 6.0%
FY18
OSK 8.5%
TEX 9.1%
FY19
OSK 9.5%
TEX 7.7%
FY20
OSK 7.1%
TEX 2.2%
FY21
OSK 7.7%
TEX 8.4%
FY22
OSK 4.5%
TEX 9.5%
FY23
OSK 8.7%
TEX 12.4%
FY24
OSK 9.4%
TEX 10.3%
FY25
OSK 9.0%
TEX 8.8%
OSK
TEX
Free cash flow
FY16
OSK $491M
TEX $319M
FY17
OSK $161M
TEX $121M
FY18
OSK $341M
TEX $3.2M
FY19
OSK $421M
TEX $67.9M
FY20
OSK $215M
TEX $161M
FY21
OSK $1.1B
TEX $234M
FY22
OSK $332M
TEX $151M
FY23
OSK $274M
TEX $332M
FY24
OSK $269M
TEX $189M
FY25
OSK $618M
TEX $322M
OSK
TEX
Return on capital
FY16
OSK 9.7%
TEX −3.7%
FY17
OSK 12.5%
TEX 7.2%
FY18
OSK 18.7%
TEX 20.6%
FY19
OSK 21.0%
TEX 17.2%
FY20
OSK 11.7%
TEX 3.7%
FY21
OSK 18.4%
TEX 18.4%
FY22
OSK 8.2%
TEX 21.6%
FY23
OSK 17.6%
TEX 31.8%
FY24
OSK 17.5%
TEX 14.5%
FY25
OSK 14.8%
TEX 9.0%
OSK
TEX
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.