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Oshkosh Corp OSK

Morningstar Rating
$111.56 +0.69 (0.62%)
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Company Report

We Expect 2024 To Be a Solid Year for Oshkosh

We think Oshkosh will continue to be the top player across its end markets. The company’s enviable competitive positioning is underpinned by its ability to produce strong-performing products that exhibit high durability. Remarkably, Oshkosh has been able to replicate its brand strength in unrelated end markets, such as aerial lifts and commercial vehicles (military, fire, and emergency). Despite having very few synergies among its businesses, Oshkosh has been adept at implementing its technology across vehicle platforms.

Price vs Fair Value

OSK is trading within a range we consider fairly valued.
Price
$110.86
Fair Value
$838.00
Uncertainty
Medium
1-Star Price
$179.14
5-Star Price
$24.60
Economic Moat
Cdswhs
Capital Allocation
Rccrptp

Bulls Say, Bears Say

Bulls

Increased infrastructure spending in the U.S. and emerging markets could result in more aerial equipment purchases, driving higher revenue growth for Oshkosh.

Bears

As a viable number-two player, Terex’s Genie brand may lead customers to turn away from Oshkosh’s JLG brand.

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News

Trading Information

Previous Close Price
$110.87
Day Range
$111.39112.62
52-Week Range
$72.22113.91
Bid/Ask
$111.31 / $111.56
Market Cap
$7.30 Bil
Volume/Avg
123,701 / 467,364

Key Statistics

Price/Earnings (Normalized)
12.41
Price/Sales
0.76
Dividend Yield (Trailing)
1.52%
Dividend Yield (Forward)
1.66%
Total Yield
1.83%

Company Profile

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. In recent years, the company has manufactured joint light tactical vehicles, or JLTV, for the U.S. Department of Defense. However, Oshkosh recently lost the JLTV recompete, bringing its U.S. Postal Service contract into focus, which calls for the electrification of U.S. postal vehicles. The company reports three segments—access equipment (52% of revenue), defense (22%), and vocational (27%)—and generated $9.6 billion in revenue in 2023.
Sector
Industrials
Industry
Farm & Heavy Construction Machinery
Stock Style Box
Small Growth
Total Number of Employees
15,000

Competitors

Valuation

Metric
OSK
TEX
GD
Price/Earnings (Normalized)
12.418.0722.73
Price/Book Value
1.962.273.51
Price/Sales
0.760.761.78
Price/Cash Flow
11.436.6618.49
Price/Earnings
OSK
TEX
GD

Financial Strength

Metric
OSK
TEX
GD
Quick Ratio
0.770.820.79
Current Ratio
1.452.011.44
Interest Coverage
12.7210.0410.84
Quick Ratio
OSK
TEX
GD

Profitability

Metric
OSK
TEX
GD
Return on Assets (Normalized)
7.50%16.45%6.55%
Return on Equity (Normalized)
18.23%39.25%17.61%
Return on Invested Capital (Normalized)
15.80%28.05%12.01%
Return on Assets
OSK
TEX
GD
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Farm & Heavy Construction Machinery Industry Comparables

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Name
Morningstar Rating for Stocks
Economic Moat
Market Cap
CAT
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DE
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PCAR
PACCAR IncJlcpny$58.1 Bil
VOLVF
Volvo AB Class BHsp$56.2 Bil
VOLAF
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VLVLY
Volvo AB ADRPbkgd$56.2 Bil
CNHI
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AGCO
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TEX
Terex CorpQswspw$3.8 Bil

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