Oshkosh Corporation (Holding Company)Common Stock (OSK)

FairStock Score: 54/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Oshkosh is a cyclical industrial. In fiscal 2025, the year ended 2025-12-31, it earned $647.0 million on $10.4 billion of revenue, down from $681.4 million on $10.7 billion in fiscal 2024. Fiscal 2023 was $598.0 million on $9.7 billion, so the trend is not a straight line. The latest filed quarter, fiscal Q1 2026 ended 2026-03-31, showed just $43.1 million of net income on $2.3 billion of revenue, versus $112.2 million in fiscal Q1 2025. That is a warning that the cycle may be biting. Still, the balance sheet is reasonable: D/E 0.24, Piotroski 9/9, TTM FCF $1.1B, FCF yield 14.0% at the 2026-10-13 close. ROE 12.39% is decent but ROCE 5.01% is not the hallmark of a wide-moat compounder; purpose-built vehicles can have niche positions, but capital returns suggest limited pricing power through the cycle. Altman Z 2.20 is okay but not fortress-like. Valuation: P/E 14.73, P/B 1.75, EV/EBITDA 8.27. Graham Number $119.85 versus $128.41 price leaves a -7.14% margin of safety. So price is not compelling on asset value, though cash flow yield is attractive if $1.1B FCF persists. FairStock Score 54/100 fits fair, not wonderful. For a cyclical, I want to buy when earnings are depressed and price is low. Here earnings have already fallen, but price is only modestly below the 52-week high of $180.49 and above Graham's number. I would watch the cycle and cash generation, not chase.

In plain English: Oshkosh makes specialized vehicles and equipment used in construction, maintenance, towing, and transport. The company is profitable and produces strong cash flow, but its sales and profits move with the economic cycle and have not grown steadily. At the recent price, the shares look closer to fair than cheap based on the company's earnings, accounting value, and cash flow.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · fiscal Q1 2025 10-Q (period ended 2025-03-31) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer