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Oshkosh Corp (OSK) stock

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NYSE: OSK NYSE Construction Machinery & Heavy Transportation Equipment Next results ~January 28, 2027

B Fundamentals grade

Oshkosh Corp is a US-listed company in the construction machinery & heavy transportation equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$160

Cash-flow model

Base case. Range ~$120–$220 across our lower- and higher-growth cases (-0.6%–9.4% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 11% below our base value.

Price used: $145.53, November 2, 2026

Oshkosh Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 5 selling0 purchases and 5 sales by directors and officers, last 12 monthsInsider trades
  • Funds295 adding, 258 cuttingOf 54 active managers that changed their stake, 31 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Oshkosh files

10-Q filed October 29: Oshkosh

Model value +22.1%

Revenue for the twelve months to September 2026 was $10.8bn, up 4.2% on a year earlier, faster than the 2.2% growth a quarter earlier. Free-cash-flow margin rose to 9.0% from 7.3% a year earlier. Operating margin narrowed to 6.8% from 9.2%. The diluted share count is down 3.1% on a year earlier, which lifts each remaining share. Our model value rises from $132 to $162 a share, against a share price of $140. The rating stays Hold. At that price, our model says the market is pricing in about 2.9% a year of cash-flow growth for five years, slower than the 6.8% a year revenue growth it has delivered.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-Q filed July 28: Oshkosh

Oshkosh's revenue reached $10.8bn in the twelve months to June 2026, up 4.2% on a year earlier and a step up from 2.2% growth a quarter before. Free-cash-flow margin improved to 9.0% from 7.3%, even as operating margin narrowed to 6.8% from 9.2%. Buybacks have trimmed the diluted share count by 3.1% over the year, lifting value for remaining holders. Fundamentals grade now stands at B, up from C+. Our model value is little changed at $132 a share, against a market price of $138, leaving the rating at Hold. At that price, the market appears to be pricing in cash-flow growth of about 4.8% a year over five years, close to the 6.8% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Where Oshkosh stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $10.6bn, up 2.2% on a year earlier, faster than -0.7% a quarter earlier. That puts it 761 of 931 for growth among all the companies we cover. Free-cash-flow margin rose to 10.8% from 5.5% a year earlier. The diluted share count is down 2.6% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 4 of our 5 financial-health checks. Our cash-flow model value is $132 a share, against a share price of $131. At that price, our model says the market is pricing in about 4.1% a year of cash-flow growth for five years, slower than the 6.5% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 28, 2027 (estimated)

Oshkosh Corp's trailing-twelve-month revenue grew 4.2% year on year, with a free-cash-flow margin of 9.0%. Where it stands out: change in share count of -3.1% ranks 1 of 21 construction machinery & heavy transportation equipment companies we cover.

Our discounted-cash-flow model values the business at ~$160 per share in the base case (~$120–$220 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 29.3% while net income fell 25.2%: a 54pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 3.1% in a year, so each share owns more of the business.

Things to watch

  • Gross margin slipping. Gross margin is down 2.4 points on a year ago.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$2.41 against an average estimate of $3.06: missed by 21.4%
Revenue
$2.84bn, up 5.7% on a year earlier
Share reaction
+1.5% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Guidance given
diluted earnings per share $10.5 (2026); adjusted earnings per share $11 (2026)
Next report
January 28, 2027; average EPS estimate $3.21

Oshkosh's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+4.0%
  • 1 week+9.1%
  • 1 month+8.7%
  • This year+17.2%
  • 1 year+19.9%
  • 5 years+41.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$10.8B
Operating margin
6.8%
Net margin
4.6%
EPS (TTM, diluted)
$7.91

Growth

Revenue growth
+4.2%
Change in growth rate
+2.0 pts
Share count change
−3.1%

Cash

Free cash flow (TTM)
$974M
FCF margin
9.0%
Stock pay % of revenue
0.4%

Earnings

Last results
October 29, 2026
Next results (est.)
January 28, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results
  3. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Oshkosh Corp valuation models and calculator

What the price is pricing in

The share price implies about 3.2% a year of cash-flow growth for five years.That is close to the 6.8% a year revenue growth Oshkosh has delivered.

  • Priced in3.2%
  • Last 12 months4.2%
  • 3 years a year4.6%
  • 5 years a year6.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($144.54, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$160
Price used
$144.54close November 3, 2026
Implied change
▲ +14%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Oshkosh Corp's free cash flow after stock-based pay with after-tax interest added back ($528M, FY2026 Q3 TTM), growing 7.8% and 5.6% in the next two years (forecasts, guidance and its record), then back to 4.4% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$120–~$220 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Oshkosh Corp's free cash flow after stock-based pay ( $528M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Oshkosh Corp as an operating company, with every model that fits that kind of business. Cost of equity 9.8%: the 10-year Treasury yield (4.9%) plus a beta of 1.08 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$160 ~$120–$220 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$170 ~$140–$230 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$100 ~$75–$150 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$110 ~$94–$130 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$140 ~$100–$170 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Oshkosh Corp with Construction Machinery & Heavy Transportation Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −26%
  • Revenue growth 5 points higher ▲ +34%
  • Free-cash-flow margin 1 point lower ▼ −11%
  • Last year's free-cash-flow margin change, if it persists ▲ +25%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $115$160$219$297$398$529
8.5% $86$118$161$217$289$382
10% $69$94$126$169$224$294

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$48.11$71.79$62.73$67.75$66.73$94.17$82.70$103.56$92.35$124.20$145.53
Market value$3.6bn$5.4bn$4.7bn$4.8bn$4.6bn$6.5bn$5.5bn$6.8bn$6.1bn$8.0bn$9.2bn
+ Net debt (− = net cash)$0$0$0$0$0$0−$192m$647m$757m$624m$545m
Enterprise value$3.6bn$5.4bn$4.7bn$4.8bn$4.6bn$6.5bn$5.3bn$7.5bn$6.8bn$8.6bn$9.7bn
Multiples
Price / sales 0.6x0.8x0.6x0.6x0.7x0.8x0.7x0.7x0.6x0.8x0.9x
Price / earnings 16.5x19.1x10.0x8.3x14.3x12.8x31.5x11.4x8.9x12.4x18.4x
Price / free cash flow 7.3x33.9x13.8x11.4x21.3x5.8x16.5x24.9x22.6x13.0x9.4x
EV / EBITDA 7.3x9.1x6.1x5.2x7.8x9.4x11.0x7.5x5.6x7.4x9.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

57 /100

Moderate moat

How hard Oshkosh's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 13 / 20

    Cash operating profit has been a median 10.1% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 16.8%, moving by 1.8 percentage points (standard deviation) across 10 years.

  • Durability 7 / 20

    Operating margin has been a median 7.9%; its worst year was 3.4%.

  • Cash conversion 10 / 20

    Free cash flow was positive in 8 of 10 years, at a median 3.8% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 8.9% over five years; stock-based pay has been a median 0.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 28, 2027, before the open. Analysts expect revenue of $2.9bn and EPS of $3.21 (range $2.37 to $3.86) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $9.81 −9% $11.1bn +6%
Next $13.86 +41% $11.9bn +8%

Next year's EPS estimate has moved −0.5% in 90 days, across 17 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −8.6% on 90 days ago. In the last 30 days, 0 analysts raised Oshkosh Corp's forecast and 3 cut it.

Consensus EPS forecast Oshkosh Corp, last 90 days
$8.00 $10.00 $12.00 $14.00 $16.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $10.73 Current fiscal year, 60 days ago: $10.76 Current fiscal year, 30 days ago: $10.76 Current fiscal year, 7 days ago: $10.73 Current fiscal year, Now: $9.81 $9.81 Next fiscal year, 90 days ago: $13.94 Next fiscal year, 60 days ago: $14.00 Next fiscal year, 30 days ago: $14.00 Next fiscal year, 7 days ago: $14.03 Next fiscal year, Now: $13.86 $13.86

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $10.73$13.94
60 days ago $10.76$14.00
30 days ago $10.76$14.00
7 days ago $10.73$14.03
Now $9.81$13.86

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $3.06 $2.41 −21.4%
Jun 2026 $2.61 $2.87 +10.1%
Mar 2026 $1.04 $0.85 −18.3%
Dec 2025 $2.31 $2.26 −2.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 28, 2026
  • net sales 2026 about $11.2bn Raised
    “The Company expects net sales to be approximately $11.2 billion, up $200 million from its previous guidance.” source
  • diluted earnings per share 2026 about $10.50 GAAP Lowered
    “The Company expects its 2026 diluted earnings per share to be in the range of $10.50 and its adjusted 1 earnings per share to be in the range of $11.00, down approximately $0.50 from its previous guidance.” source
  • adjusted earnings per share 2026 about $11.00 Non-GAAP Lowered
    “The Company expects its 2026 diluted earnings per share to be in the range of $10.50 and its adjusted 1 earnings per share to be in the range of $11.00, down approximately $0.50 from its previous guidance.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Oshkosh Corp's revenue by +7.8% next year and +5.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+8.8%, weight 49%) , management guidance (+10.1%, weight 22%) and the company's own record (+4.4%, weight 29%) . How the weights are set.

Analyst recommendations

18 analysts, Oct 2026
Buy1161%
Hold739%
Sell00%

Monthly trend

  1. Oct 202638718
  2. Sep 202638718
  3. Aug 202628818
  4. Jul 202628818

Counts of recommendations published by analysts covering Oshkosh Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.7%
of tradable shares
Days to cover
3.49
at average volume
Short interest, 1 month
+26%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.7%
of shares
Employees
18,400
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +19.9%

$121.39 on October 31, 2025 to $145.53

ThenNowEffect
Revenue (last 12 months) $10.4bn $10.6bn +2.2%
Net margin 6.3% 5.2% −16.3%
P/E multiple 12.2x 16.6x +36.6%
Share count 65m 64m +2.6%

Biggest factor: p/e multiple.

Last 3 years +62.0%

$89.85 on November 3, 2023 to $145.53

ThenNowEffect
Revenue (last 12 months) $9.0bn $10.6bn +18.5%
Net margin 4.5% 5.2% +15.7%
P/E multiple 14.6x 16.6x +13.9%
Share count 66m 64m +3.6%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
OSK+33%−21%+25%−11%+35%+17%
Industry peers (median)+11%−8%+36%+25%+4%+9%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
OSK67%42%50%58%50%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
OSK−28%−43%−31%−25%−32%−33%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 49% from December 23, 2019 to March 23, 2020. Getting back needed a 95% gain, reached on January 12, 2021, 295 days after the low.

Price behaviour

52-week range
$117.24 – $176.50
From 52-week high
−17.5%
vs 50-day average
+4.2%
vs 200-day average
−0.1%
Volatility (1 year)
39%
Beta vs S&P 500
1.33

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 9 down
typical move ±7.0%
After a week
6 up, 5 down
typical move ±8.6%
After a month
6 up, 5 down
typical move ±7.5%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 +1.5% −2.1% — —
July 28, 2026 −7.8% −1.3% +1.1% +2.0%
May 8, 2026 −12.4% +1.1% −21.3% −13.0%
January 29, 2026 −1.6% −0.5% +11.9% +18.2%
October 29, 2025 −10.4% −1.1% −9.1% −6.4%
August 1, 2025 +8.1% −0.1% +6.2% +9.3%
April 30, 2025 −1.8% +0.7% +0.5% +13.0%
January 30, 2025 +21.7% 0.0% +16.7% +2.4%
October 30, 2024 −5.2% −2.3% +7.1% +5.8%
July 31, 2024 −8.0% +0.2% −13.6% −6.3%
April 25, 2024 −3.0% +0.6% −6.5% −4.4%
January 30, 2024 −2.4% −1.7% −0.8% −1.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Oshkosh Corp’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Oshkosh Corp in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Oshkosh Corp
$9.5B $10B $10.5B $11B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $9.7B Revenue (TTM), FY24 Q1: $9.9B Revenue (TTM), FY24 Q2: $10.4B Revenue (TTM), FY24 Q3: $10.6B Revenue (TTM), FY24 Q4: $10.7B Revenue (TTM), FY25 Q1: $10.5B Revenue (TTM), FY25 Q2: $10.4B Revenue (TTM), FY25 Q3: $10.3B Revenue (TTM), FY25 Q4: $10.4B Revenue (TTM), FY26 Q1: $10.4B Revenue (TTM), FY26 Q2: $10.6B Revenue (TTM), FY26 Q3: $10.8B $10.8B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $9.7B
FY24 Q1 $9.9B
FY24 Q2 $10.4B
FY24 Q3 $10.6B
FY24 Q4 $10.7B
FY25 Q1 $10.5B
FY25 Q2 $10.4B
FY25 Q3 $10.3B
FY25 Q4 $10.4B
FY26 Q1 $10.4B
FY26 Q2 $10.6B
FY26 Q3 $10.8B
Revenue growth, TTM YoY Oshkosh Corp
-5% 0% 5% 10% 15% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 16.6% Revenue growth, TTM YoY, FY24 Q1: 15.4% Revenue growth, TTM YoY, FY24 Q2: 15.8% Revenue growth, TTM YoY, FY24 Q3: 12.8% Revenue growth, TTM YoY, FY24 Q4: 11.1% Revenue growth, TTM YoY, FY25 Q1: 5.7% Revenue growth, TTM YoY, FY25 Q2: 0.2% Revenue growth, TTM YoY, FY25 Q3: -2.5% Revenue growth, TTM YoY, FY25 Q4: -2.9% Revenue growth, TTM YoY, FY26 Q1: -0.7% Revenue growth, TTM YoY, FY26 Q2: 2.2% Revenue growth, TTM YoY, FY26 Q3: 4.2% 4.2%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 16.6%
FY24 Q1 15.4%
FY24 Q2 15.8%
FY24 Q3 12.8%
FY24 Q4 11.1%
FY25 Q1 5.7%
FY25 Q2 0.2%
FY25 Q3 -2.5%
FY25 Q4 -2.9%
FY26 Q1 -0.7%
FY26 Q2 2.2%
FY26 Q3 4.2%
Operating margin (TTM) Oshkosh Corp
6% 7% 8% 9% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 8.7% Operating margin (TTM), FY24 Q1: 9.7% Operating margin (TTM), FY24 Q2: 9.6% Operating margin (TTM), FY24 Q3: 9.5% Operating margin (TTM), FY24 Q4: 9.4% Operating margin (TTM), FY25 Q1: 8.8% Operating margin (TTM), FY25 Q2: 9.2% Operating margin (TTM), FY25 Q3: 9.2% Operating margin (TTM), FY25 Q4: 9.0% Operating margin (TTM), FY26 Q1: 8.1% Operating margin (TTM), FY26 Q2: 7.5% Operating margin (TTM), FY26 Q3: 6.8% 6.8%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 8.7%
FY24 Q1 9.7%
FY24 Q2 9.6%
FY24 Q3 9.5%
FY24 Q4 9.4%
FY25 Q1 8.8%
FY25 Q2 9.2%
FY25 Q3 9.2%
FY25 Q4 9.0%
FY26 Q1 8.1%
FY26 Q2 7.5%
FY26 Q3 6.8%
FCF margin (TTM) Oshkosh Corp
-5% 0% 5% 10% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 2.8% FCF margin (TTM), FY24 Q1: -1.5% FCF margin (TTM), FY24 Q2: -2.5% FCF margin (TTM), FY24 Q3: -0.5% FCF margin (TTM), FY24 Q4: 2.5% FCF margin (TTM), FY25 Q1: 2.7% FCF margin (TTM), FY25 Q2: 5.5% FCF margin (TTM), FY25 Q3: 7.3% FCF margin (TTM), FY25 Q4: 5.7% FCF margin (TTM), FY26 Q1: 8.0% FCF margin (TTM), FY26 Q2: 10.8% FCF margin (TTM), FY26 Q3: 9.0% 9.0%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 2.8%
FY24 Q1 -1.5%
FY24 Q2 -2.5%
FY24 Q3 -0.5%
FY24 Q4 2.5%
FY25 Q1 2.7%
FY25 Q2 5.5%
FY25 Q3 7.3%
FY25 Q4 5.7%
FY26 Q1 8.0%
FY26 Q2 10.8%
FY26 Q3 9.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-QT. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Sept 2009 2010 Sept 2010 2011 Sept 2011 2012 Sept 2012 2013 Sept 2013 2014 Sept 2014 2015 Sept 2015 2016 Sept 2016 2017 Sept 2017 2018 Sept 2018 2019 Sept 2019 2020 Sept 2020 2021 Sept 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 5.3 9.8 7.5 8.1 7.7 6.8 6.1 6.3 6.8 7.7 8.4 6.9 7.7 8.3 9.7 10.7 10.4 10.8
Gross profit 0.7 2.0 1.1 1.0 1.2 1.2 1.0 1.1 1.2 1.4 1.5 1.1 1.3 1.1 1.7 2.0 1.8 1.7
EBITDA −0.8 1.6 0.7 0.5 0.6 0.6 0.5 0.5 0.6 0.8 0.9 0.6 0.7 0.5 1.0 1.2 1.2 1.0
Operating income −1.0 1.4 0.5 0.4 0.5 0.5 0.4 0.4 0.5 0.7 0.8 0.5 0.6 0.4 0.8 1.0 0.9 0.7
Net income −1.1 0.8 0.3 0.2 0.3 0.3 0.2 0.2 0.3 0.5 0.6 0.3 0.5 0.2 0.6 0.7 0.6 0.5
Diluted EPS −$14.37 $8.69 $2.99 $2.51 $3.55 $3.61 $2.90 $2.91 $3.77 $6.29 — — — — — — — $7.91
Growth (year on year)
Revenue −23.6% +86.9% −23.2% +8.0% −5.8% −11.2% −10.4% +3.0% +8.8% +12.8% +8.8% −18.2% +12.8% +7.0% +16.6% +11.1% −2.9% +4.2%
EBITDA −207.4% — −58.0% −22.7% +22.0% −0.4% −17.0% −5.8% +21.9% +29.3% +17.5% −35.4% +18.2% −31.1% +107.9% +21.4% −3.9% −16.5%
Operating income −258.6% — −63.1% −26.3% +30.4% −0.5% −20.8% −8.7% +29.2% +39.5% +21.5% −39.2% +22.1% −37.1% +125.0% +20.7% −7.0% −22.8%
Net income — — −65.4% −15.6% +37.8% −2.7% −25.8% −5.7% +32.0% +65.2% +22.8% −44.5% +58.3% −65.8% +243.9% +13.9% −5.0% −25.2%
Diluted EPS — — −65.6% −16.1% +41.4% +1.7% −19.7% +0.3% +29.6% +66.8% — — — — — — — −22.8%
Margins
Gross margin 13.4% 20.1% 14.5% 12.4% 15.5% 17.4% 17.0% 16.8% 17.3% 17.6% 18.1% 16.3% 16.4% 12.7% 17.4% 18.4% 17.5% 15.4%
EBITDA margin −15.8% 16.3% 8.9% 6.4% 8.3% 9.3% 8.6% 7.8% 8.8% 10.1% 10.9% 8.6% 9.0% 5.8% 10.3% 11.3% 11.2% 9.1%
Operating margin −18.6% 14.5% 7.0% 4.8% 6.6% 7.4% 6.5% 5.8% 6.9% 8.5% 9.5% 7.1% 7.7% 4.5% 8.7% 9.4% 9.0% 6.8%
Net margin −20.9% 8.0% 3.6% 2.8% 4.1% 4.5% 3.8% 3.4% 4.2% 6.1% 6.9% 4.7% 6.6% 2.1% 6.2% 6.4% 6.2% 4.6%
Free-cash-flow margin 16.2% 5.5% 4.1% 2.6% 5.1% 1.1% −0.7% 7.8% 2.4% 4.4% 5.0% 3.1% 14.4% 4.0% 2.8% 2.5% 5.9% 9.0%
Cash flow
Cash from operations 0.9 0.6 0.4 0.3 0.4 0.2 0.1 0.6 0.2 0.4 0.6 0.3 1.2 0.6 0.6 0.6 0.8 1.1
Capital spending 0.0 0.1 0.1 0.1 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.3 0.3 0.3 0.2 0.2
Free cash flow 0.9 0.5 0.3 0.2 0.4 0.1 −0.0 0.5 0.2 0.3 0.4 0.2 1.1 0.3 0.3 0.3 0.6 1.0
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Free cash flow after stock pay 0.8 0.5 0.3 0.2 0.4 0.1 −0.1 0.5 0.1 0.3 0.4 0.2 1.1 0.3 0.2 0.2 0.6 0.9
Balance sheet
Cash — — — — — — — — — — — — — 0.8 0.1 0.2 0.5 0.6
Total debt 2.0 1.3 1.1 1.0 1.0 0.9 0.9 0.9 0.8 — 0.8 0.8 0.8 0.6 0.8 1.0 1.1 1.1
Net debt (negative = net cash) — — — — — — — — — — — — — −0.2 0.6 0.8 0.6 0.5
Diluted shares 76m 91m 92m 92m 89m 85m 79m 74m 76m 75m 71m 69m 69m 66m 66m 66m 65m 63m
Returned to shareholders
Dividends 0.0 — — 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Buybacks — 0.0 0.0 0.0 0.2 0.4 0.2 0.1 0.0 0.3 0.4 0.0 0.1 0.2 0.0 0.1 0.3 0.3
Total returned 0.0 0.0 0.0 0.0 0.2 0.5 0.3 0.2 0.1 0.3 0.4 0.1 0.2 0.3 0.1 0.2 0.4 0.5

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 5 checks passed · September 30, 2026
What it owns · $10.3bn
Short-term assets $5.4bnLonger-term assets $4.8bn
What it owes, and who funded it · $7.7bn
Short-term liabilities $3.2bnShareholders' equity $4.6bn
  • Short-term assets cover short-term liabilities $5.4bn of assets due within a year against $3.2bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $558m of cash against $1.1bn of debt.
  • Debt below 40% of shareholders' equity Debt is 24% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 20% to 24% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.1bn of operating cash flow against $1.1bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Oshkosh Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$340M
Dividends (TTM)
$138M
Returned to shareholders
49%
of free cash flow
Buybacks, last 3 fiscal years
$417M
Diluted share count
−3.1%
year over year
Total shareholder yield
5.4%
dividends 1.6% + buybacks 3.8% of market value
Dividend payout ratio
28%
of net income paid out
R&D spending
1.5%
of revenue
Sales & admin spending
8.0%
of revenue

Competitors: side by side with peers

Closest by revenue in construction machinery & heavy transportation equipment
Last 12 months unless stated OSK WAB TEX ALSN PCAR HY Median
Revenue, last 12 months $10.8bn $12.2bn $7.5bn $4.4bn $29.1bn $3.5bn $2.1bn
Revenue growth, last 12 months 4.2% 13.2% 40.1% 37.6% −1.5% −11.1% 10.1%
Revenue growth, 3-year average 4.6% 8.9% 13.3% 14.2% −5.2% −3.6% 4.3%
Revenue growth, latest quarter 5.7% 8.1% 58.4% 92.4% 19.0% −15.0% 17.8%
Gross margin 15.4% 35.6% 17.1% 36.4% 20.1% 15.4% 21.4%
Operating margin 6.8% 17.2% 5.7% 19.6% — −2.3% 5.9%
Operating margin, 3-year average 8.5% 16.3% 8.2% 27.0% — 2.1% 8.6%
Net margin 4.6% 11.2% 2.6% 12.0% 9.5% −3.3% 3.2%
Cash from operations / revenue 10.5% 17.1% 7.3% 21.3% 12.6% 2.2% 8.9%
Free-cash-flow margin 9.0% 14.6% 3.3% 16.7% 10.5% 0.4% 7.0%
Free-cash-flow margin, 3-year average 5.3% 13.9% 3.4% 19.7% 11.4% 1.5% 5.9%
Stock pay / revenue 0.4% 0.9% 0.9% 0.7% 0.1% 0.2% 0.6%
Change in share count −3.1% −0.8% 46.6% −2.6% 0.1% −0.2% −0.1%

Median of all 23 companies we cover in construction machinery & heavy transportation equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

23 construction machinery & heavy transportation equipment companies
Measure Company Peer median Rank
Revenue growth Growth 4.2% 10.1% 14 of 23
Change in growth rate Growth +2.0pp +4.6pp 16 of 23
Gross margin Profitability 15.4% 21.4% 17 of 23
Operating margin Profitability 6.8% 5.8% 10 of 21
Net margin Profitability 4.6% 3.2% 11 of 23
Free-cash-flow margin Cash generation 9.0% 7.0% 10 of 23
Stock pay as % of revenue Cash generation 0.4% 0.6% 5 of 20
Long-term debt as % of assets Balance sheet 5.9% 24.0% 3 of 18
Change in share count Balance sheet -3.1% -0.1% 1 of 21

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Geography
Region Revenue Share YoY
United States $8.6B 82.2% ▼ 4.9%
EMEA $1.1B 10.7% ▲ 33.3%
Rest of World $377M 3.6% ▼ 10.9%
Other North America $366M 3.5% ▼ 21.9%

From Oshkosh Corp's 10-K filed February 17, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$9.8B
Institutions reporting
594
Shares held vs prior quarter
▲ 4.7%
Positions opened / closed
73 / 69

Top buyers and sellers, Q2 2026: 295 institutions bought and 258 sold ; the biggest buyer was AQR Capital Management LLC (+2.0M shares) and the biggest seller Blackrock, Inc (−1.6M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $914M 6.0M 9.3% ▼ 21.3%
Aristotle Capital Management, LLC $725M 4.7M 7.4% ▼ 5.5%
Vanguard Portfolio Management LLC $668M 4.4M 6.8% ▲ 2.5%
AQR Capital Management LLC $518M 3.4M 5.3% ▲ 147.7%
Dimensional Fund Advisors LP $492M 3.2M 5.0% ▲ 5.1%
Vanguard Capital Management LLC $432M 2.8M 4.4% ▲ 0.2%
Greenhaven Associates Inc $393M 2.6M 4.0% ▲ 1.1%
LSV Asset Management $327M 2.1M 3.3% ▲ 7.2%
State Street Corp $320M 2.1M 3.3% ▼ 0.7%
Invesco Ltd. $295M 1.9M 3.0% ▲ 12.5%
Capital Research Global Investors $267M 1.7M 2.7% ▲ 24.1%
FMR LLC $261M 1.7M 2.7% ▼ 13.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Oshkosh Corp's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $2M 5 trades by 5 insiders · 9% under pre-set plans
Net ▼ $2M net selling
Insider Date Trade Shares Price Value
Pfeifer John C Director September 11, 2026 Sell pre-set plan 778 $150.00 $116,700
Palmer Duncan Director May 12, 2026 Sell pre-set plan 505 $133.86 $67,599
Khare Anupam SVP/Chief Information Officer February 27, 2026 Sell 4,000 $169.08 $676,281
Verich John S SVP Bus Devl and Treasurer February 20, 2026 Sell 1,050 $176.99 $185,840
Cortina Ignacio A EVP, CL&AO & Secretary November 21, 2025 Sell 8,000 $124.41 $995,280

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 3 trades and filings

No trades in Oshkosh Corp disclosed in the last 12 months; 3 earlier trades on record.

  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded October 31, 2025, filed November 21, 2025
  • Lisa C. McClain(R-MI 9):Purchase, $1,001 - $15,000, traded October 30, 2025, filed November 21, 2025
  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded October 30, 2025, filed November 21, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 28, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • July 28, 2026
  • May 8, 2026
  • January 29, 2026
  • October 29, 2025
  • August 1, 2025

Recent SEC filings

Data status

When each part of this page on Oshkosh Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Oshkosh Corp in brief

What does Oshkosh Corp do?
Oshkosh Corp is a US-listed company in the construction machinery & heavy transportation equipment industry. Its financial year ends in December.
What is Oshkosh Corp's stock ticker?
Oshkosh Corp trades under the ticker OSK on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Oshkosh Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Oshkosh Corp reported revenue of $10.8B, 4.2% higher than a year earlier, according to its SEC filings.
What is Oshkosh Corp's free cash flow?
Oshkosh Corp's free-cash-flow margin is 9.0% of revenue over the trailing twelve months, ranking 10 of the 23 construction machinery & heavy transportation equipment companies we cover.
What is Oshkosh Corp's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Oshkosh Corp's free cash flow after stock-based pay gives ~$160 per share in the base case, and ~$120–$220 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Oshkosh Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Aristotle Capital Management, LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Oshkosh Corp buying back stock, and does it pay a dividend?
Oshkosh Corp spent $340M on share repurchases over the trailing twelve months, and its diluted share count fell 3.1% over the year.
What is Oshkosh Corp's market cap?
On November 2, 2026, Oshkosh Corp's market capitalisation was about $9.2B, with a price-to-earnings ratio of 18.4 and net debt of $545M. Market figures come from third-party market data and may be delayed.
Does Oshkosh Corp pay a dividend?
Yes: Oshkosh Corp paid $138M in dividends over the trailing twelve months, a dividend yield of 1.55% and a payout ratio of 27.7%.
How much debt does Oshkosh Corp have?
Oshkosh Corp's debt-to-equity ratio is 24.2%, from its latest balance sheet (20.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Oshkosh Corp's competitors?
In our Construction Machinery & Heavy Transportation Equipment peer group, the companies closest to Oshkosh Corp are Wabtec, Terex Corp, Allison Transmission Holdings Inc, Paccar and Hyster-yale, Inc. The side-by-side comparison below sets their revenue, margins and growth against Oshkosh Corp's.
Are insiders buying or selling Oshkosh Corp stock?
Over the last 12 months, Oshkosh Corp's directors and officers reported 0 open-market purchases and 5 sales on Form 4. The insider trading page charts every trade.
When is Oshkosh Corp's next earnings date?
Around January 28, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Oshkosh Corp announces its own schedule.