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Oshkosh Corporation (OSK) Fair Value & Analysis

Industrials · US · Market cap $9.0B · ISIN US6882392011

What is Oshkosh Corporation really worth?

OC Oshkosh Corporation logo Oshkosh Corporation OSK · US
Price$156.36
Fair Value$168.67
Upside+7.9%
Quality41/100

Below-average quality, currently priced close to our fair value of $168.67.

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Strengths

Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +8.7 %/yr)
!Thin margins · 5.5% net margin
!Mixed vs. peers (6/15)
!Narrow moat 44/100
!Weak on future: 1 out of 100
!Weak on dividend: 27 out of 100

For context

·1.34% dividend yield
Evidence: High Range $95.69 – $231.53

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 22 days ago

Share price −0.2% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range ($95.69 to $231.53) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

$177.16 $65.88 Fair Value $168.67 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range $65.88 – $177.16 · fair‑value band $95.69 – $231.53 · the $156.36 price screens below the $168.67 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Oshkosh Corporation (OSK) currently trades at $156.36, while our model-based Fair Value estimate is $168.67, implying the stock looks roughly 7.3% fairly valued today. The Quality Score stands at 41/100 (below-average quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of $205.40 per share, and 18 of the 26 models we run sit above the $156.36 price. Bear case: the Dividend Discount group reads lowest at $31.63, and 8 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Oshkosh Corporation generated revenue of $10.4B at a net margin of 5.5%. Revenue grew 0.2% year over year. It earns a return on equity of 13.3%. Net debt stands at $1.1B. Fundamentals as of Aug 13, 2026

Our scenario range runs from $95.69 (bear case) to $231.53 (bull case); at $156.36, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 13% below its 52-week high and 49% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −18% fair-value upside, at 8%, OSK screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $4.66 per share, which is 2.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF $103.33 $174.85 $286.29 78
Growth DCF $103.67 $171.79 $275.69 77
Owner Earnings $125.16 $210.46 $343.38 75
All 26 models by family
DCF Models
FCF DCF $103.33 $174.85 $286.29 78
Owner Earnings $125.16 $210.46 $343.38 75
5Y Revenue Exit $116.40 $205.40 $322.75 71
5Y EBITDA Exit $139.88 $251.34 $386.29 74
5Y P/E Exit $125.59 $223.37 $330.31 70
10Y Revenue Exit $106.22 $186.48 $301.90 65
10Y EBITDA Exit $125.36 $218.44 $351.35 67
10Y P/E Exit $116.29 $198.98 $307.78 63
Earnings-Based
Graham-Dodd $70.56 $269.07 $364.41 64
Lynch FV $65.45 $93.49 $121.54 61
PEG = 1.0 $65.45 $93.49 $121.54 57
EPV $99.94 $117.29 $132.26 74
Dividend Discount
Gordon GGM $18.37 $36.60 $55.42 67
DDM Multi-Stage $18.37 $31.63 $38.63 67
Multiples
P/E Multiple $163.43 $217.91 $272.39 63
P/S Multiple $132.30 $176.40 $220.50 58
P/B Multiple $132.30 $176.40 $220.50 55
EV/EBIT $183.33 $247.76 $312.18 66
EV/EBITDA $177.80 $240.39 $302.97 67
EV/Revenue $128.00 $187.12 $246.24 53
Asset-Based
NCAV (Graham) $36.33 $48.68 $72.66 54
Growth DCF
Growth DCF $103.67 $171.79 $275.69 77
Rev-Margin DCF $116.40 $203.90 $310.14 71
Economic Profit
Residual Income $70.21 $89.51 $230.57 68
ROIC Compounder $108.02 $143.40 $188.98 72
Growth Earnings
Growth-Adj P/E $119.13 $170.19 $221.24 67

Widest divergence: DCF Models ($205.40) versus Dividend Discount ($31.63). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 17.8
P/S ratio 1.10 P/E × margin
EPS (TTM) $8.79 price ÷ EPS = P/E 17.8
Dividend yield 1.3% payout 23.9%
Net margin 6.2% FY2025
Return on equity 13.3% TTM
More key figures
Profitability
Return on assets (EBIT) 8.4% avg 5y
Operating margin 3.6% TTM
Growth
Revenue (TTM) $10.4B TTM
Revenue growth (YoY) +0.2% 3y avg +8.0%
EPS growth (YoY) −60.5%
Balance sheet & cash flow
Free cash flow $618M FY2025
Net debt $1.1B FY2025 · ≈ 1.7 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 44 · Market factors (momentum, volatility) 51

Profitability 49
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 43
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 57
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Oshkosh Corporation provides purpose-built vehicles and equipment worldwide. The company operates through three segments: Access, Vocational, and Transport segment.

Full company description

Oshkosh Corporation provides purpose-built vehicles and equipment worldwide. The company operates through three segments: Access, Vocational, and Transport segment. The Access segment designs and manufactures aerial work platform and telehandlers for use in construction, industrial, and maintenance applications; and towing and recovery equipment, which includes carriers, wreckers, and rotators, as well as provides financing and leasing solutions, including rental fleet loans, leases, and floor plan and retail financing. This segment also offers equipment installation and sale of chassis and service parts, as well as offers parts and accessories. The Transport segment engages in the manufacture and sale of heavy, medium, and light tactical wheeled vehicles and related services for defense; and hauling combat vehicles, missile systems, ammunition, fuel, and troops and cargos. The Vocational segment offers custom and commercial firefighting equipment, fire apparatus, and emergency vehicles, including pumpers, aerial platform, ladder and tiller trucks, and tankers; light, medium, and heavy-duty rescue vehicles; and wildland rough terrain response other emergency response vehicles. This segment also produces and sells aircraft rescue and firefighting vehicles; airport ground support equipment; baggage, airport facility and operations, and equipment-monitoring technology services; refuse and recycling collection vehicles and components; and IMT-branded field service vehicles and truck-mounted cranes, frontline communications-branded simulators, command vehicles and other communication vehicles, and front-discharge concrete mixer vehicles. The company sells its products through direct sales representatives, dealers, and distributors. The company was formerly known as Oshkosh Truck Corporation. Oshkosh Corporation was founded in 1915 and is headquartered in Oshkosh, Wisconsin.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Oshkosh Corporation reported revenue of $10.4B in FY2025 versus $7.7B in FY2021, a compound +7.7%/yr. Reported net income was $647M in FY2025, compounding +8.2%/yr from FY2021.

Growth Quality 72/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$10.4B
Latest YoY
−2.9%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.0%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.7%
Avg. revenue growth/yr (40Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.2%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, adjusted) plus dividend yield: value created per share and year.
−19.6% (−20.9 + 1.3)
Revenue +7.7%/yr
FY21 $7.7B
FY22 $8.3B
FY23 $9.7B
FY24 $10.7B
FY25 $10.4B
Net income +8.2%/yr
FY21 $473M
FY22 $174M
FY23 $598M
FY24 $681M
FY25 $647M
Character of growth · EPS growth decomposed (2014-2025) +2.1 % p.a.
Revenue per share −3.0 %

of which total revenue +5.4 % · buybacks/dilution −8.0 %

EBIT margin +3.6 %
Tax rate +0.9 %
Residual (interest, one-offs) +0.7 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Oshkosh Corporation Fair Value". https://www.fairvalue-calculator.com/stock/OSK

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Farm & Heavy Construction Machinery · 150 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 41 · Bottom 25%
Fair Value upside +8% · Above median
Return on equity (TTM) 13% · Above median
Return on assets 5% · Top 25%
Net margin (TTM) 6% · Below median
Operating margin (TTM) 4% · Bottom 25%
Revenue growth 0% · Below median
Dividend yield (TTM) 1.3% · Below median
Debt / equity 0.24× · Higher than median

Valuation Multiples vs Farm & Heavy Construction Machinery median · lower = cheaper

P/E (TTM) 17.8× · Cheaper than median
P/B 1.98× · Pricier than median
P/S (TTM) 0.86× · Cheaper than median
P/FCF 14.5× · Pricier than 75% of peers
EV/EBITDA 8.8× · Cheaper than median
PEG 6.51× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE44 · sector 12
FUTURE1 · sector 29
PAST53 · sector 31
HEALTH88 · sector 93
DIVIDEND27 · sector 39

Insider activity: 46/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Farm & Heavy Construction Machinery stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Caterpillar Inc CAT $800.25 $307.83 −62%
Deere & Company DE $622.66 $182.29 −71%
AB Volvo (publ), VOLVA kr 351.40 kr 288.08 −18%
PACCAR Inc PCAR $122.45 $94.80 −23%
Daimler Truck Holding DTG €45.73 €47.70 +4%
Epiroc AB EPIA kr 272.80 kr 144.14 −47%
Exor N.V EXO €72.10 €123.44 +71%
Sany Heavy Industry Co 600031 ¥19.06 ¥20.84 +9%
Traton SE 8TRA €37.78 €52.60 +39%
Metso Oyj METSO €16.75 €10.73 −36%

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Frequently asked questions

Is Oshkosh Corporation (OSK) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of $168.67 versus a price of $156.36, about +8% upside (fairly valued).
What is the fair value of OSK?
Our model-based fair value for Oshkosh Corporation is $168.67 (as of Aug 13, 2026), built from audited fundamentals. The current price: $156.36.
What is the quality score of OSK?
Oshkosh Corporation has a Quality Score of 41/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Oshkosh Corporation (OSK)?
Oshkosh Corporation reported trailing-twelve-month revenue of about $10.4B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of OSK?
The net profit margin of Oshkosh Corporation is about 5.5%, meaning it keeps roughly 5.5% of revenue as net income. Based on the latest reported figures.
Does Oshkosh Corporation pay a dividend?
Oshkosh Corporation currently shows a dividend yield of about 1.34% relative to its recent price (as of Aug 13, 2026).
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