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Maker of specialty trucks and access equipment, including fire apparatus, refuse trucks, military vehicles and aerial work platforms (JLG).
Maker of specialty trucks and access equipment, including fire apparatus, refuse trucks, military vehicles and aerial work platforms (JLG).
Access equipment, sold mainly to rental fleets, is the largest and most cyclical line. Fire trucks and refuse trucks are bought by municipalities, and military vehicles under government contracts, both with order backlogs that smooth deliveries.
Moat: narrow (brand, customer qualification, scale). Leading brands (JLG, Pierce fire apparatus) with long municipal/military procurement relationships and qualification hurdles.
Headquarters: Oshkosh, Wisconsin, USA · Founded: 1917 · Employees: 18,400
Size Oshkosh (OSK) is a United States Consumer Discretionary company (Motor Vehicles) with a market value of $8.19B, the 870th largest of 3,117 United States companies the cockpit tracks. Shares closed at $134.36 on 6 Nov 2026.
Performance Over six months the shares fell 2.6%, against -18.7% for the median peer and -1.1% for the United States market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 3.9% over the last twelve months (peer median +8.1%); the operating margin is 6.8% (peer median 3.8%).
Valuation It trades at 11.2× forward earnings against a peer median of 19.1× (6th cheapest of 16).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.9 points above its cost of capital (10.5% WACC).
Backlog Backlog (remaining performance obligations) was $11.8B at 30 Sep 2026, down 5% on a year earlier — 1.1 years of trailing revenue. Backlog detail →
Credit Oshkosh has 2 bonds outstanding ($600M), rated BBB by the agencies and trading like BBB+ at a weighted spread of 70 bp.
Short interest Short interest is 4.1% of the free float (15 Oct 2026).
Next results Next results expected around 2 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $10.8B | $10.4B | $10.7B | $9.65B | $8.28B |
| Revenue growth | — | -3% | +11% | +16% | — |
| Gross profit | $1.60B | $1.94B | $2.08B | $1.77B | $1.16B |
| EBITDA | $1.04B | $1.20B | $1.27B | $989M | $478M |
| Net income | $498M | $647M | $681M | $598M | $174M |
| Free cash flow | $942M | $572M | $262M | $274M | $322M |
| Capital expenditure | $191M | $212M | $288M | $325M | $280M |
| Total debt | $1.10B | $1.38B | $1.23B | $1.08B | $853M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Oshkosh OSK | $8.19B | -3% | +4% | 7% | 11.2× | 4.7% |
| Terex TEX | $6.18B | -14% | +40% | 7% | 9.9× | 12.1% |
| Manitou BF MTU.PA | $882M | -6% | +8% | 6% | 8.6× | -3.6% |
| Dover DOV | $27.1B | -7% | +8% | 18% | 17.6× | 12.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | OSK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.5% | +2.5% | 9th highest of 21 |
| 6-month return | -2.6% | -18.7% | 8th highest of 21 |
| Distance from 52-week high | -25.6% | -32.4% | 9th highest of 21 |
| Revenue growth (TTM) | +3.9% | +8.1% | 8th lowest of 21 |
| Operating margin | 6.8% | 3.8% | 8th highest of 21 |
| Forward P/E | 11.2× | 19.1× | 6th cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | 4.7% | 3.8% | 5th most demanding of 11 |
| Growth delivered (Del g) | +8.7% | +10.3% | 4th lowest of 11 |
| Hurdle (Req g minus delivered) | -4.1 pp | -4.9 pp | 6th least demanding of 11 |
| ROIC minus cost of capital | +0.9 pp | -1.7 pp | 7th highest of 19 |
| EV / EBITDA | 8.4× | 8.2× | 6th cheapest of 11 |
| Net debt / EBITDA | 0.5× | 1.7× | 4th least indebted of 12 |
| Bond spread | 70 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Oshkosh OSK | United States | $8.19B | -3% | +4% | 7% | 11.2× | 4.7% | +8.7% |
| NIO 9866.HK | Hong Kong | $7.60B | -46% | +70% | -4% | n/a | n/a | n/a |
| VinFast Auto VFS | United States | $7.60B | -25% | +74% | -86% | n/a | n/a | n/a |
| Ather Energy ATHERENERG.NS | India | $7.57B | +101% | +63% | -7% | n/a | n/a | n/a |
| Porsche Automobil Holding SE Pref PAH3.DE | Germany | $8.98B | -19% | +13% | 108% | 33.4× | 9.4% | +2.4% |
| Jardine Cycle & Carriage C07.SI | Singapore | $7.36B | -28% | -11% | 10% | 8.2× | -7.8% | +8.9% |
| Isuzu Motors 7202.T | Japan | $9.26B | -1% | +5% | 6% | 8.8× | n/a | n/a |
| Zhejiang CFMoto Power 603129.SS | China | $7.23B | +16% | +40% | 11% | 19.9× | -3.9% | +34.5% |
| Renault RNO.PA | France | $9.39B | +2% | +6% | 6% | 4.9× | 3.4% | +5.9% |
| Chongqing Changan Automobile 000625.SZ | China | $9.51B | -25% | -7% | 0% | 28.5× | n/a | n/a |
| XPeng 9868.HK | Hong Kong | $9.51B | -37% | +29% | -7% | n/a | n/a | n/a |
| Federal Signal FSS | United States | $6.92B | -4% | +24% | 17% | 20.1× | 11.8% | +14.0% |
| Yamaha Motor 7272.T | Japan | $10.1B | +54% | +10% | 6% | 9.3× | 4.2% | +11.5% |
| Yutong Bus 600066.SS | China | $10.1B | -12% | +3% | 14% | 11.5× | -10.0% | +13.8% |
| Zhejiang Leapmotor Technology 9863.HK | Hong Kong | $6.34B | -25% | +71% | -1% | 16.1× | -14.5% | +150.7% |
| Guangzhou Automobile 2238.HK | Hong Kong | $6.28B | -27% | 0% | -17% | n/a | n/a | n/a |
| Seres 601127.SS | China | $11.0B | -51% | -6% | -4% | 139.8× | n/a | n/a |
| Nissan Motor 7201.T | Japan | $5.98B | -24% | -1% | 2% | 23.1× | n/a | n/a |
| Tata Motors Passenger Vehicles TMPV.NS | India | $11.4B | -19% | -22% | 0% | 10.7× | n/a | n/a |
| Shimano 7309.T | Japan | $11.5B | +29% | +5% | 12% | 35.8× | 6.0% | +4.3% |
| Hero Motocorp HEROMOTOCO.NS | India | $11.7B | +3% | +27% | 12% | 19.1× | 14.1% | +9.2% |
Oshkosh has 2 bonds outstanding with $600M face value. The agencies rate it BBB; its bonds trade like BBB+. Weighted yield 5.17%, a spread of 70 bp over government bonds.
Oshkosh reported $11.8B of remaining performance obligations at 30 Sep 2026, down 5% from a year earlier and down 4% from the previous quarter. That is 1.1 years of trailing revenue already under contract. Book-to-bill last quarter: 0.82.