OSHKOSH CORP
OSK · Motor Vehicles & Passenger Car Bodies · 62.4M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: -$9M (gross $22M, SBC $32M)
Reference price $133.86 · est. market cap ~$8.3B — last insider sale, 2026-05-12 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B75Diversified, well-managed industrial vehicle maker with top-decile operating margins and strong cash flow.
Strengths
- Operating margin 9.0% (91st pct) and gross margin 17.5% (73rd pct); $618M FCF (70th pct)
- $783M operating cash flow, 12 straight years of double-digit dividend hikes, disciplined capital allocation
- Powerful purpose-built brands (JLG, Pierce, Oshkosh Defense) across diversified, partly counter-cyclical end markets
Risks
- Highly cyclical access/fire/refuse markets; revenue down 2.9% with Access expected down ~7% in 2026
- NGDV/USPS execution risk (deferred costs exceed future profits ~$135M) and ~$200M of 2026 tariff cost
Notable findings
- Strong balance sheetStrong balance sheet — $480M cash & investments
- Revenue declineRevenue -13.8% YoY
- China exposureCountries may implement additional restrictive trade actions, including tariffs, export controls, sanctions, legislation favoring domestic investment and other actions impacting the import and export
- Insider sellingInsider selling — 3 open-market sale(s) by 3 insider(s) (cluster of 3 insiders, ~$929,695, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
17.5%
Operating margin
9.0%
Net margin
6.2%
Return on equity
14.3%
Return on assets
6.4%
ROIC
13.2%
Revenue growth (QoQ)
-13.8%
Net-income growth
-5.0%
Debt / equity
0.2×
Net debt / EBITDA
0.5×
Current ratio
1.9×
Free cash flow
$618M
EBITDA
$1.2B
Tangible book value
$2.3B
Cash & investments
$480M
Stock comp / revenue
0.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-12 | Palmer Duncan | Sell | 505 | $133.86 |
| 2026-05-05 | DAVIS DOUGLAS LEE | Grant | 1.1K | — |
| 2026-05-05 | Allman Keith J. | Grant | 1.1K | — |
| 2026-05-05 | Burns Bill | Grant | 1.1K | — |
| 2026-05-05 | CLAYTON ANNETTE K | Grant | 1.1K | — |
| 2026-05-05 | Jordan Tyrone Michael | Grant | 1.1K | — |
| 2026-05-05 | Metcalf-Kupres Kimberley | Grant | 1.1K | — |
| 2026-05-05 | Palmer Duncan | Grant | 1.1K | — |
| 2026-05-05 | Perkins David G | Grant | 1.1K | — |
| 2026-05-05 | Rowland Sandra E. | Grant | 1.1K | — |
| 2026-02-27 | Khare Anupam | Sell | 4.0K | $169.07 |
| 2026-02-26 | Verich John S | Gift | 115 | — |
| 2026-02-20 | Khare Anupam | Option exercise | 1.7K | $175.52 |
| 2026-02-20 | Khare Anupam | Tax withheld | 840 | $175.52 |
| 2026-02-20 | Khare Anupam | Option exercise | 2.3K | $175.52 |
| 2026-02-20 | Khare Anupam | Tax withheld | 1.1K | $175.52 |
| 2026-02-20 | Khare Anupam | Option exercise | 1.2K | $175.52 |
| 2026-02-20 | Khare Anupam | Tax withheld | 515 | $175.52 |
| 2026-02-20 | Nystrom Jackie Lynn | Option exercise | 509 | $175.52 |
| 2026-02-20 | Nystrom Jackie Lynn | Tax withheld | 240 | $175.52 |
| 2026-02-20 | Iyengar Jayanthi | Option exercise | 1.6K | $175.52 |
| 2026-02-20 | Iyengar Jayanthi | Tax withheld | 691 | $175.52 |
| 2026-02-20 | Iyengar Jayanthi | Option exercise | 2.1K | $175.52 |
| 2026-02-20 | Iyengar Jayanthi | Tax withheld | 918 | $175.52 |
| 2026-02-20 | Iyengar Jayanthi | Option exercise | 1.1K | $175.52 |
| 2026-02-20 | Iyengar Jayanthi | Tax withheld | 463 | $175.52 |
| 2026-02-20 | Pack Michael E | Option exercise | 4.3K | $175.52 |
| 2026-02-20 | Pack Michael E | Tax withheld | 2.0K | $175.52 |
| 2026-02-20 | Pack Michael E | Option exercise | 5.7K | $175.52 |
| 2026-02-20 | Pack Michael E | Tax withheld | 2.7K | $175.52 |
| 2026-02-20 | Pack Michael E | Option exercise | 2.9K | $175.52 |
| 2026-02-20 | Pack Michael E | Tax withheld | 1.4K | $175.52 |
| 2026-02-20 | Freeders James C | Option exercise | 1.2K | $175.52 |
| 2026-02-20 | Freeders James C | Tax withheld | 558 | $175.52 |
| 2026-02-20 | Pfeifer John C | Option exercise | 18K | $175.52 |
| 2026-02-20 | Pfeifer John C | Tax withheld | 8.4K | $175.52 |
| 2026-02-20 | Pfeifer John C | Option exercise | 24K | $175.52 |
| 2026-02-20 | Pfeifer John C | Tax withheld | 11K | $175.52 |
| 2026-02-20 | Pfeifer John C | Option exercise | 12K | $175.52 |
| 2026-02-20 | Pfeifer John C | Tax withheld | 5.4K | $175.52 |
| 2026-02-20 | Cortina Ignacio A | Option exercise | 4.3K | $175.52 |
| 2026-02-20 | Cortina Ignacio A | Tax withheld | 2.0K | $175.52 |
| 2026-02-20 | Cortina Ignacio A | Option exercise | 5.7K | $175.52 |
| 2026-02-20 | Cortina Ignacio A | Tax withheld | 2.7K | $175.52 |
| 2026-02-20 | Cortina Ignacio A | Option exercise | 2.9K | $175.52 |
| 2026-02-20 | Cortina Ignacio A | Tax withheld | 1.4K | $175.52 |
| 2026-02-20 | Verich John S | Option exercise | 1.1K | $86.59 |
| 2026-02-20 | Verich John S | Sell | 1.1K | $176.99 |
| 2026-02-20 | Verich John S | Option exercise | 710 | $175.52 |
| 2026-02-20 | Verich John S | Tax withheld | 334 | $175.52 |
| 2026-02-20 | Brandt Bryan K | Option exercise | 1.0K | $175.52 |
| 2026-02-20 | Brandt Bryan K | Tax withheld | 506 | $175.52 |
| 2026-02-20 | Brandt Bryan K | Option exercise | 1.3K | $175.52 |
| 2026-02-20 | Brandt Bryan K | Tax withheld | 627 | $175.52 |
| 2026-02-20 | Brandt Bryan K | Option exercise | 672 | $175.52 |
| 2026-02-20 | Brandt Bryan K | Tax withheld | 300 | $175.52 |
| 2026-02-19 | Verich John S | Option exercise | 997 | $170.49 |
| 2026-02-19 | Verich John S | Tax withheld | 496 | $170.49 |
| 2026-02-19 | Pfeifer John C | Option exercise | 13K | $170.49 |
| 2026-02-19 | Pfeifer John C | Tax withheld | 6.0K | $170.49 |
| 2026-02-19 | Pack Michael E | Option exercise | 2.8K | $170.49 |
| 2026-02-19 | Pack Michael E | Tax withheld | 1.3K | $170.49 |
| 2026-02-19 | Nystrom Jackie Lynn | Option exercise | 554 | $170.49 |
| 2026-02-19 | Nystrom Jackie Lynn | Tax withheld | 270 | $170.49 |
| 2026-02-19 | Narang Mahesh | Grant | 3.1K | $170.49 |
| 2026-02-19 | Narang Mahesh | Disposition | 1.5K | $170.49 |
| 2026-02-19 | Khare Anupam | Option exercise | 949 | $170.49 |
| 2026-02-19 | Khare Anupam | Tax withheld | 424 | $170.49 |
| 2026-02-19 | Iyengar Jayanthi | Option exercise | 870 | $170.49 |
| 2026-02-19 | Iyengar Jayanthi | Tax withheld | 380 | $170.49 |
| 2026-02-19 | Freeders James C | Option exercise | 1.1K | $170.49 |
| 2026-02-19 | Freeders James C | Tax withheld | 495 | $170.49 |
| 2026-02-19 | Cortina Ignacio A | Option exercise | 2.4K | $170.49 |
| 2026-02-19 | Cortina Ignacio A | Tax withheld | 1.1K | $170.49 |
| 2026-02-19 | Brandt Bryan K | Option exercise | 633 | $170.49 |
| 2026-02-19 | Brandt Bryan K | Tax withheld | 283 | $170.49 |
| 2026-02-17 | Verich John S | Option exercise | 1.1K | $168.47 |
| 2026-02-17 | Verich John S | Tax withheld | 563 | $168.47 |
| 2026-02-17 | Pfeifer John C | Option exercise | 16K | $168.47 |
| 2026-02-17 | Pfeifer John C | Tax withheld | 7.0K | $168.47 |
| 2026-02-17 | Pack Michael E | Option exercise | 2.8K | $168.47 |
| 2026-02-17 | Pack Michael E | Tax withheld | 1.3K | $168.47 |
| 2026-02-17 | Nystrom Jackie Lynn | Option exercise | 550 | $168.47 |
| 2026-02-17 | Nystrom Jackie Lynn | Tax withheld | 288 | $168.47 |
| 2026-02-17 | Narang Mahesh | Option exercise | 3.1K | $168.47 |
| 2026-02-17 | Narang Mahesh | Tax withheld | 1.5K | $168.47 |
| 2026-02-17 | Khare Anupam | Option exercise | 1.1K | $168.47 |
| 2026-02-17 | Khare Anupam | Tax withheld | 492 | $168.47 |
| 2026-02-17 | Iyengar Jayanthi | Option exercise | 1.1K | $168.47 |
| 2026-02-17 | Iyengar Jayanthi | Tax withheld | 517 | $168.47 |
| 2026-02-17 | Freeders James C | Option exercise | 1.2K | $168.47 |
| 2026-02-17 | Freeders James C | Tax withheld | 548 | $168.47 |
| 2026-02-17 | Field Matthew | Option exercise | 2.8K | $168.47 |
| 2026-02-17 | Field Matthew | Tax withheld | 1.3K | $168.47 |
| 2026-02-17 | Cortina Ignacio A | Option exercise | 2.6K | $168.47 |
| 2026-02-17 | Cortina Ignacio A | Tax withheld | 1.2K | $168.47 |
| 2026-02-17 | Brandt Bryan K | Option exercise | 864 | $168.47 |
| 2026-02-17 | Brandt Bryan K | Tax withheld | 386 | $168.47 |
| 2026-02-11 | Brandt Bryan K | Gift | 600 | — |
| 2025-12-16 | Field Matthew | Grant | 15K | $128.52 |
| 2025-12-16 | Field Matthew | Disposition | 7.2K | $128.52 |
| 2025-11-21 | Cortina Ignacio A | Sell | 8.0K | $124.41 |
| 2025-11-13 | Narang Mahesh | Grant | 11K | $124.27 |
| 2025-11-13 | Narang Mahesh | Disposition | 5.3K | $124.27 |
| 2025-08-22 | Khare Anupam | Sell | 4.0K | $139.03 |
| 2025-08-18 | Brandt Bryan K | Sell | 1.7K | $140.37 |
| 2025-08-12 | Cortina Ignacio A | Option exercise | 5.2K | $86.59 |
| 2025-08-12 | Cortina Ignacio A | Sell | 5.2K | $138.71 |
| 2025-08-12 | Cortina Ignacio A | Option exercise | 7.5K | $66.09 |
| 2025-08-12 | Cortina Ignacio A | Sell | 7.5K | $138.58 |
| 2025-08-06 | Freeders James C | Option exercise | 2.2K | $86.59 |
| 2025-08-06 | Freeders James C | Sell | 2.2K | $136.72 |
| 2025-08-06 | Freeders James C | Option exercise | 5.6K | $66.09 |
| 2025-08-06 | Freeders James C | Sell | 5.6K | $136.68 |
| 2025-08-06 | Freeders James C | Option exercise | 4.3K | $90.28 |
| 2025-08-06 | Freeders James C | Sell | 4.3K | $136.59 |
| 2025-05-06 | CLAYTON ANNETTE K | Grant | 1.9K | — |
| 2025-05-06 | Burns Bill | Grant | 1.9K | — |
| 2025-05-06 | Jordan Tyrone Michael | Grant | 1.9K | — |
| 2025-05-06 | Rowland Sandra E. | Grant | 1.9K | $88.26 |
| 2025-05-06 | Palmer Duncan | Grant | 1.9K | — |
| 2025-05-06 | Metcalf-Kupres Kimberley | Grant | 1.9K | — |
| 2025-05-06 | Allman Keith J. | Grant | 1.9K | — |
| 2025-05-06 | DAVIS DOUGLAS LEE | Grant | 1.9K | — |
| 2025-05-06 | Perkins David G | Grant | 1.9K | — |
| 2025-02-21 | Verich John S | Option exercise | 577 | $103.17 |
| 2025-02-21 | Verich John S | Tax withheld | 272 | $103.17 |
| 2025-02-21 | Pfeifer John C | Option exercise | 3.1K | $103.17 |
| 2025-02-21 | Pfeifer John C | Tax withheld | 1.5K | $103.17 |
| 2025-02-21 | Pfeifer John C | Option exercise | 9.8K | $103.17 |
| 2025-02-21 | Pfeifer John C | Tax withheld | 4.6K | $103.17 |
| 2025-02-21 | Pfeifer John C | Option exercise | 5.9K | $103.17 |
| 2025-02-21 | Pfeifer John C | Tax withheld | 2.8K | $103.17 |
| 2025-02-21 | Pfeifer John C | Option exercise | 7.9K | $103.17 |
| 2025-02-21 | Pfeifer John C | Tax withheld | 3.5K | $103.17 |
| 2025-02-21 | Pack Michael E | Option exercise | 780 | $103.17 |
| 2025-02-21 | Pack Michael E | Tax withheld | 367 | $103.17 |
| 2025-02-21 | Pack Michael E | Option exercise | 2.5K | $103.17 |
| 2025-02-21 | Pack Michael E | Tax withheld | 1.2K | $103.17 |
| 2025-02-21 | Pack Michael E | Option exercise | 1.5K | $103.17 |
| 2025-02-21 | Pack Michael E | Tax withheld | 702 | $103.17 |
| 2025-02-21 | Pack Michael E | Option exercise | 2.0K | $103.17 |
| 2025-02-21 | Pack Michael E | Tax withheld | 924 | $103.17 |
| 2025-02-21 | Khare Anupam | Option exercise | 381 | $103.17 |
| 2025-02-21 | Khare Anupam | Tax withheld | 180 | $103.17 |
| 2025-02-21 | Khare Anupam | Option exercise | 1.2K | $103.17 |
| 2025-02-21 | Khare Anupam | Tax withheld | 617 | $103.17 |
| 2025-02-21 | Khare Anupam | Option exercise | 712 | $103.17 |
| 2025-02-21 | Khare Anupam | Tax withheld | 335 | $103.17 |
| 2025-02-21 | Khare Anupam | Option exercise | 944 | $103.17 |
| 2025-02-21 | Khare Anupam | Tax withheld | 422 | $103.17 |
| 2025-02-21 | Iyengar Jayanthi | Option exercise | 503 | $103.17 |
| 2025-02-21 | Iyengar Jayanthi | Tax withheld | 220 | $103.17 |
| 2025-02-21 | Iyengar Jayanthi | Option exercise | 1.6K | $103.17 |
| 2025-02-21 | Iyengar Jayanthi | Tax withheld | 681 | $103.17 |
| 2025-02-21 | Iyengar Jayanthi | Option exercise | 955 | $103.17 |
| 2025-02-21 | Iyengar Jayanthi | Tax withheld | 417 | $103.17 |
| 2025-02-21 | Iyengar Jayanthi | Option exercise | 1.3K | $103.17 |
| 2025-02-21 | Iyengar Jayanthi | Tax withheld | 549 | $103.17 |
| 2025-02-21 | Freeders James C | Option exercise | 944 | $103.17 |
| 2025-02-21 | Freeders James C | Tax withheld | 422 | $103.17 |
| 2025-02-21 | Cortina Ignacio A | Option exercise | 936 | $103.17 |
| 2025-02-21 | Cortina Ignacio A | Tax withheld | 440 | $103.17 |
| 2025-02-21 | Cortina Ignacio A | Option exercise | 2.9K | $103.17 |
| 2025-02-21 | Cortina Ignacio A | Tax withheld | 1.4K | $103.17 |
| 2025-02-21 | Cortina Ignacio A | Option exercise | 1.8K | $103.17 |
| 2025-02-21 | Cortina Ignacio A | Tax withheld | 840 | $103.17 |
| 2025-02-21 | Cortina Ignacio A | Option exercise | 2.4K | $103.17 |
| 2025-02-21 | Cortina Ignacio A | Tax withheld | 1.1K | $103.17 |
| 2025-02-21 | Brandt Bryan K | Option exercise | 225 | $103.17 |
| 2025-02-21 | Brandt Bryan K | Tax withheld | 105 | $103.17 |
| 2025-02-21 | Brandt Bryan K | Option exercise | 690 | $103.17 |
| 2025-02-21 | Brandt Bryan K | Tax withheld | 365 | $103.17 |
| 2025-02-21 | Brandt Bryan K | Option exercise | 417 | $103.17 |
| 2025-02-21 | Brandt Bryan K | Tax withheld | 214 | $103.17 |
| 2025-02-21 | Brandt Bryan K | Option exercise | 550 | $103.17 |
| 2025-02-21 | Brandt Bryan K | Tax withheld | 246 | $103.17 |
| 2025-02-21 | Bleck Timothy S | Option exercise | 603 | $103.17 |
| 2025-02-20 | Verich John S | Option exercise | 698 | $110.30 |
| 2025-02-20 | Verich John S | Tax withheld | 331 | $110.30 |
| 2025-02-20 | Pfeifer John C | Option exercise | 12K | $110.30 |
| 2025-02-20 | Pfeifer John C | Tax withheld | 5.3K | $110.30 |
| 2025-02-20 | Pack Michael E | Option exercise | 2.8K | $110.30 |
| 2025-02-20 | Pack Michael E | Tax withheld | 1.3K | $110.30 |
| 2025-02-20 | Khare Anupam | Option exercise | 1.1K | $110.30 |
| 2025-02-20 | Khare Anupam | Tax withheld | 505 | $110.30 |
| 2025-02-20 | Iyengar Jayanthi | Option exercise | 1.0K | $110.30 |
| 2025-02-20 | Iyengar Jayanthi | Tax withheld | 454 | $110.30 |
| 2025-02-20 | Freeders James C | Option exercise | 1.2K | $110.30 |
| 2025-02-20 | Freeders James C | Tax withheld | 548 | $110.30 |
| 2025-02-20 | Cortina Ignacio A | Option exercise | 2.8K | $110.30 |
| 2025-02-20 | Cortina Ignacio A | Tax withheld | 1.3K | $110.30 |
| 2025-02-20 | Brandt Bryan K | Option exercise | 660 | $110.30 |
| 2025-02-20 | Brandt Bryan K | Tax withheld | 295 | $110.30 |
| 2025-02-20 | Bleck Timothy S | Option exercise | 1.2K | $110.30 |
| 2025-02-19 | Verich John S | Option exercise | 978 | $109.72 |
| 2025-02-19 | Verich John S | Tax withheld | 512 | $109.72 |
| 2025-02-19 | Pfeifer John C | Option exercise | 13K | $109.72 |
| 2025-02-19 | Pfeifer John C | Tax withheld | 5.9K | $109.72 |
| 2025-02-19 | Pack Michael E | Option exercise | 2.7K | $109.72 |
| 2025-02-19 | Pack Michael E | Tax withheld | 1.3K | $109.72 |
| 2025-02-19 | Narang Mahesh | Grant | 3.0K | $109.72 |
| 2025-02-19 | Narang Mahesh | Disposition | 1.5K | $109.72 |
| 2025-02-19 | Khare Anupam | Option exercise | 931 | $109.72 |
| 2025-02-19 | Khare Anupam | Tax withheld | 416 | $109.72 |
| 2025-02-19 | Iyengar Jayanthi | Option exercise | 854 | $109.72 |
| 2025-02-19 | Iyengar Jayanthi | Tax withheld | 373 | $109.72 |
| 2025-02-19 | Freeders James C | Option exercise | 1.1K | $109.72 |
| 2025-02-19 | Freeders James C | Tax withheld | 486 | $109.72 |
| 2025-02-19 | Cortina Ignacio A | Option exercise | 2.3K | $109.72 |
| 2025-02-19 | Cortina Ignacio A | Tax withheld | 1.1K | $109.72 |
| 2025-02-19 | Brandt Bryan K | Option exercise | 621 | $109.72 |
| 2025-02-19 | Brandt Bryan K | Tax withheld | 278 | $109.72 |
| 2025-02-19 | Bleck Timothy S | Option exercise | 1.6K | $109.72 |
| 2025-01-03 | Iyengar Jayanthi | Option exercise | 11K | — |
| 2025-01-03 | Iyengar Jayanthi | Tax withheld | 4.7K | $94.24 |
| 2025-01-03 | Iyengar Jayanthi | Option exercise | 11K | — |
| 2025-01-03 | Iyengar Jayanthi | Tax withheld | 4.6K | $94.24 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (2)
- U.S. government (Department of Defense) 20% of rev
- United States Postal Service (USPS)
Suppliers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-08 | ResultsExhibits | filing ↗ |
| 2026-05-08 | Shareholder vote | filing ↗ |
| 2026-03-16 | Material agreementDebt obligationExhibits | filing ↗ |
| 2026-01-29 | ResultsExhibits | filing ↗ |
| 2025-10-29 | ResultsExhibits | filing ↗ |
| 2025-08-01 | ResultsExhibits | filing ↗ |
| 2025-05-09 | Shareholder vote | filing ↗ |
| 2025-04-30 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2026-05-08 | 2026-03-31 | 0001193125-26-214298 ↗ |
| 8-K | 2026-05-08 | 2026-05-08 | 0001193125-26-213376 ↗ |
| 8-K | 2026-05-08 | 2026-05-05 | 0001104659-26-057760 ↗ |
| 8-K | 2026-03-16 | 2026-03-16 | 0001104659-26-028611 ↗ |
| 10-K | 2026-02-17 | 2025-12-31 | 0001193125-26-054061 ↗ |
| 8-K | 2026-01-29 | 2026-01-29 | 0001193125-26-028232 ↗ |
| 10-Q | 2025-10-29 | 2025-09-30 | 0001193125-25-256137 ↗ |
| 8-K | 2025-10-29 | 2025-10-29 | 0001193125-25-254706 ↗ |
| 8-K | 2025-08-01 | 2025-08-01 | 0000950170-25-101111 ↗ |
| 10-Q | 2025-08-01 | 2025-06-30 | 0000950170-25-101362 ↗ |
| 8-K | 2025-05-09 | 2025-05-06 | 0001104659-25-046725 ↗ |
| 10-Q | 2025-04-30 | 2025-03-31 | 0000950170-25-060988 ↗ |