OSHKOSH CORP

Listed Company

OSKCIK 0000775158NYSELarge AcceleratedMotor Vehicles & Passenger Car BodiesWisconsinFY ends Dec 31

Period

FY 2025

Revenue

$10.42B

Net Income

$647.00M

Total Assets

$10.07B

Equity

$4.53B

Shares Out

62.55M

Op. Cash Flow

$783.40M

Business

OSHKOSH CORP is a global industrial technology company that designs, develops and manufactures purpose-built vehicles and equipment for public safety, commercial, construction, aviation and defense customers. It offers aerial work platforms, telehandlers, towing and recovery vehicles, fire apparatus, airport ground support and ARFF vehicles, refuse and recycling trucks, concrete mixers, field service vehicles, command and simulator shelters, and defense tactical and mobility systems, plus parts, lifecycle services and financing solutions. The company operates through three reportable segments: Access, Vocational and Defense. Its products are sold worldwide through direct sales, dealer and distributor networks, rental companies and government contracting channels.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-09-30
Net sales	10,422	10,730	9,658	8,282	7,737
Cost of sales	8,603	8,761	7,977	7,228	6,469
Gross income	1,819	1,969	1,681	1,054	1,268
Selling, general and administrative	819	852	810	663	667
Amortization of purchased intangibles	55	55	33	12	10
Intangible asset impairments	6	52	0	8	—
Total operating expenses	880	959	843	682	676
Operating income	940	1,011	838	372	592
Interest expense	−118	−120	−69	−53	−48
Interest income	9	8	15	10	4
Miscellaneous, net	11	4	14	−53	−2
Income before income taxes and losses of unconsolidated affiliates	842	903	798	276	545
Provision for income taxes	192	210	190	98	36
Income before losses of unconsolidated affiliates	651	693	608	178	509
Losses of unconsolidated affiliates	−4	−12	−10	−4	—
Net income	647	681	598	174	509
Basic	10.08	10.41	9.15	2.65	7.43
Diluted	10.02	10.35	9.08	2.63	7.35

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	480	205	125	806	996
Receivables, net	1,456	1,255	1,316	1,162	973
Unbilled receivables, net	703	637	772	586	441
Inventories	2,375	2,266	2,132	1,866	1,550
Income taxes receivable	52	51	42	22	250
Other current assets	103	115	94	91	72
Total current assets	5,169	4,528	4,481	4,532	4,282
Property, plant and equipment, net	1,271	1,217	1,070	826	593
Goodwill	1,448	1,410	1,416	1,042	1,049
Purchased intangible assets, net	735	778	830	457	464
Deferred income taxes	201	259	262	135	72
Deferred contract costs	826	843	711	416	73
Other non-current assets	423	390	360	321	390
Total assets	10,072	9,423	9,129	7,729	6,850
Revolving credit facilities and current maturities of long-term debt	600,000	362	175	10	—
Accounts payable	1,074	1,143	1,215	1,129	747
Customer advances	737	649	707	697	691
Payroll-related obligations	218	246	243	120	118
Income taxes payable	141	140	308	100	222
Other current liabilities	493	447	443	373	364
Total current liabilities	2,664	2,987	3,090	2,429	2,143
Long-term debt, less current maturities	1,100	600	598	595	819
Non-current customer advances	1,223	1,154	1,191	1,021	207
Deferred income taxes	26	27	27	—	—
Other non-current liabilities	529	503	519	499	476
Commitments and contingencies	—	—	—	—	—
Preferred Stock ($0.01 par value; 2,000,000 shares authorized; none issued and outstanding)	0	0	—	—	—
Common Stock ($0.01 par value; 300,000,000 shares authorized; 75,101,465 shares issued)	700,000	700,000	700,000	700,000	700,000
Additional paid-in capital	866	848	823	806	792
Retained earnings	4,884	4,367	3,806	3,315	3,239
Accumulated other comprehensive income (loss)	6	−103	−72	−92	−129
Common Stock in treasury, at cost (12,511,995 and 10,499,458 shares, respectively)	−1,227	−960	−852	−844	−699
Total shareholders equity	4,531	4,152	3,705	3,186	3,204
Total liabilities and shareholders equity	10,072	9,423	9,129	7,729	6,850

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-09-30
Depreciation and amortization	224	200	160	108	104
Stock-based incentive compensation	38	38	32	29	27
Deferred income taxes	53	−18	−160	−54	100
Other non-cash adjustments	−15	3	10	7	−4
Receivables, net	−189	66	−53	−200	−128
Unbilled receivables, net	−66	135	−131	−146	63
Inventories	−78	−112	−116	−331	199
Accounts payable	−28	−77	12	332	252
Customer advances	156	−94	157	819	281
Payroll-related obligations	−30	−700,000	109	2	61
Income taxes payable	−22	−169	215	72	−157
Deferred contract costs	17	−132	−295	−343	—
Other operating assets and liabilities	70	−22	63	113	−101
Total changes in operating assets and liabilities	−170	−406	−39	317	485
Net cash provided by operating activities	783	550	600	601	1,222
Additions to property, plant and equipment	−165	−281	−325	−270	−104
Additions to equipment held for rental	−46	−7	−5	−10	−10
Acquisition of businesses, net of cash acquired	−900,000	−121	−996	−20	−111
Proceeds from sale of businesses, net of cash sold	0	7	33	0	—
Other investing activities	8	14	8	−11	−31
Net cash used in investing activities	−205	−389	−1,286	−300	−246
Proceeds from revolving credit facilities	3,239	4,326	1,617	10	—
Repayments of revolving credit facilities	−3,599	−4,141	−1,451	0	−5
Proceeds from issuance of debt	501	2	0	—	—
Dividends paid	−130	−120	−107	−97	−90
Repurchases of Common Stock	−278	−116	−23	−155	−108
Other financing activities	−48	−26	−32	−18	23
Net cash provided by (used in) financing activities	−316	−75	3	−485	−180
Effect of exchange rate changes on cash and cash equivalents	12	−7	2	−6	−3
Increase (decrease) in cash and cash equivalents	275	80	−681	−190	793
Cash paid for interest	99	112	60	50	45
Sale of equipment held for rental - noncash	29	0	0	—	—
Property, plant and equipment additions - noncash	19	32	59	69	17

Filings

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