Oshkosh Corp

Consumer Discretionary
Auto Manufacturing
www.oshkoshcorp.com

Earnings Score
Moat Score
Safety Score

Market Cap $6.66B
PE 10
Debt $967.50M
Cash $204.90M
EV $7.43B
FCF $261.80M

Earnings

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Sales & Net Margins

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Earnings	$681.40M
EBIT	$1.02B
ROE	16%
ROA	11%
FCF	$261.80M
Equity	$4.15B
Growth Stability	38%
PE	9.78
PEG	0.63
PB	1.61
P/FCF	25.46
P/S	0.62
Price/Cash	0.03
Debt/Equity	0.23
Debt/FCF	3.7
Net Margins	6%
Gross Margins	18%
Op. Margins	10%
Earnings CAGR	6%
Sales Growth YoY	5%
Sales Growth QoQ	-5%
Sales CAGR	-2%
FCF CAGR	2%
Equity CAGR	8%
Earnings Stability	0.14
Earnings Growth YoY	2%
Earnings Growth QoQ	-15%
Earnings CAGR 5Y	16%

Sales CAGR 5Y	27%
FCF CAGR 5Y	-4%
Equity CAGR 5Y	8%
Earnings CAGR 3Y	169%
Sales CAGR 3Y	169%
FCF CAGR 3Y	-1%
Equity CAGR 3Y	16%
Market Cap	$6.66B
Revenue	$10.73B
Dividend Yield	2%
Payout Ratio	18%
Assets	$9.42B
Total Debt	$967.50M
Cash	$204.90M
Shares Outstanding	64.6M
EV	7.43B
Earnings Score	8%
Moat Score	90%
Safety Score	62%
Final Score	53%
Working Capital	1.54B
Current Ratio	1.52
Gross Profit	$1.97B
Shares Growth 3y	-1%
Equity Growth QoQ	1%
Equity Growth YoY	12%

Assets & ROA

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Stockholders Equity & ROE

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Oshkosh is the top producer of access equipment, specialty vehicles, and military trucks. It serves diverse end markets, where it is typically the market share leader in North America, or, in the case of JLG aerial work platforms, a global leader. After winning the contract to make the Humvee replacement, the JLTV, in 2015, Oshkosh became the largest supplier of light defense trucks to the U.S. military. The company reports four segments-access equipment (42% of revenue), defense (32%), fire and emergency (15%), and commercial (12%)-and generated $7.9 billion in revenue in 2021.

SEC Filings

Direct access to Oshkosh Corp (OSK) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Oshkosh Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Oshkosh Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 6%

Stability 14%

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Oshkosh Corp Discounted Cash Flow

Fully customizable DCF calculator online for Oshkosh Corp.

Years

Calculation mode

= $3.1B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$262M	$268M	$274M	$281M	$287M	$294M	$301M	$308M	$316M	$323M	$331M	$3.3B
DCF		$244M	$227M	$211M	$196M	$183M	$170M	$158M	$147M	$137M	$127M	$1.3B
Value	$3.1B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	12/2022	12/2023	12/2024	TTM
Net Margins	4%	3%	4%	6%	7%	5%	2%	6%	6%	6%
ROA	-	8%	9%	13%	14%	9%	5%	9%	11%	11%
ROE	-	11%	12%	19%	22%	11%	5%	16%	16%	16%

Bad Net Margins (6.35%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	1.94	6.44	2.45	2.09	4.21	1.9	2.88	3.7	3.7
Debt over Equity	0.5	0.44	0.37	0.33	0.32	0.29	0.19	0.21	0.23	0.23
Growth Stability	-	-	-	100%	100%	73%	38%	100%	100%	38%

Neutral Debt/FCF ratio (3.7)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.23)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (38%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	3%	9%	13%	9%	-18%	21%	17%	11%	27%
Earnings YoY growth	-	-6%	32%	65%	23%	-44%	-46%	244%	14%	16%
Equity YoY growth	-	3%	17%	9%	3%	10%	12%	16%	12%	8%
FCF YoY growth	-	-697%	-70%	152%	17%	-50%	63%	-16%	-3%	-4%