OSKOSHKOSH CORP

Motor Vehicles & Passenger Car Bodies

Revenue: $10.4B; 2.9% YoY
Operating margin: 9.0%; 4.3% YoY
EBITDA: $1.2B; 3.9% YoY
Market cap: $8.6B
Employees: 18,400; $566K revenue each
Net debt / EBITDA: 0.0×; $44M net debt
AI in 10-K: 1.7; mentions per 10K words

Takeover score 0 of 13

Fixable underperformance 0 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
341% of net income
Cash flow under 80% of net income
Dilutive SBCNo
0% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
52% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
14% of assets
Over 40% of assets
Shareholder dissentNo
94% lowest support
Any vote under 80% support

Buyer economics 0 of 4

Low revenue per employeeNo
$566K · 72nd pct
Bottom quartile of its SIC industry
Quiet on AINo
1.7 per 10K words · 50th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
0.0× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$8.6B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$2M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$7.7B	$8.3B	$9.7B	$10.7B	$10.4B	2.9%
Operating income	$592M	$372M	$838M	$1.0B	$940M	7.0%
Operating cash flow	$1.2B	$601M	$600M	$550M	$783M	42%
Capex	$104M	$270M	$325M	$281M	$165M	41%
Stock-based comp	$27M	$29M	$32M	$38M	$38M	0.3%
Buybacks	$108M	$155M	$23M	$116M	$278M	140%
Dividends	$90M	$97M	$107M	$120M	$130M	8.7%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $0 · 0
Open-market sells, 12 mo: $2M · 5
Net: −$2M

Pay vs performance

No pay-versus-performance disclosure yet.