Oshkosh Corporation (OSK)

Activity ratios

Short-term

Turnover ratios

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018
Inventory turnover 4.15 4.26 4.38 4.27 4.24 4.69 4.97 4.99 5.10 4.12 3.38 3.08 3.15 3.92 4.45 5.13 5.79 5.09 4.36 5.02
Receivables turnover 7.29 6.03 6.52 6.53 7.10 7.55 6.77 8.17 7.56 6.92 7.75 9.57 7.95 8.69 9.20 9.05 7.73 6.51 7.45 7.39
Payables turnover 7.28 7.89 7.79 7.46 7.01 7.68 7.78 7.77 8.37 6.97 7.12 8.71 8.19 11.51 10.16 11.99 9.09 9.19 7.95 10.65
Working capital turnover 6.90 6.68 4.53 4.38 3.92 4.39 4.81 4.36 3.19 3.31 3.27 3.28 3.49 3.96 4.65 4.79 5.02 4.92 5.15 5.40

Activity ratios provide insights into how efficiently a company is managing its assets and liabilities to generate revenue.

Inventory turnover measures how many times a company sells and replaces its inventory during a period. Oshkosh Corp's inventory turnover has been relatively stable around 3.8-4.5 times a year, indicating efficient management of inventory levels.

Receivables turnover reflects how quickly the company collects on credit sales. Oshkosh Corp's receivables turnover has ranged from 4.1 to 4.7 times per year, suggesting a consistent collection process.

Payables turnover measures how quickly the company pays its suppliers. Oshkosh Corp's payables turnover has been fairly steady, ranging from 6.4 to 7.2 times per year, indicating good payment management.

Working capital turnover indicates how effectively the company is utilizing its working capital to generate revenue. Oshkosh Corp's working capital turnover has shown some fluctuation, with higher values in recent quarters, reflecting improved efficiency in utilizing its working capital.

Overall, Oshkosh Corp has shown consistent performance in managing its inventory, receivables, payables, and working capital efficiently to support its revenue generation activities.

Average number of days

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018
Days of inventory on hand (DOH) days 87.98 85.63 83.36 85.47 86.00 77.80 73.41 73.10 71.58 88.49 108.08 118.38 116.06 93.20 81.94 71.09 63.02 71.77 83.63 72.75
Days of sales outstanding (DSO) days 50.05 60.51 55.98 55.90 51.42 48.34 53.89 44.70 48.27 52.73 47.11 38.13 45.94 42.01 39.68 40.33 47.20 56.05 49.01 49.39
Number of days of payables days 50.13 46.29 46.83 48.94 52.04 47.54 46.89 47.00 43.63 52.40 51.23 41.92 44.54 31.72 35.93 30.44 40.13 39.70 45.91 34.27

Activity ratios such as days of inventory on hand (DOH), days of sales outstanding (DSO), and number of days of payables provide insights into how efficiently Oshkosh Corp manages its inventory, collects receivables, and pays its suppliers, respectively.

Over the quarters, Oshkosh Corp's DOH has been gradually increasing, indicating that the company is holding onto inventory for a longer period before selling it. This may suggest issues such as overstocking or slow-moving inventory, potentially tying up working capital.

In contrast, DSO has shown some fluctuations but generally remained within a manageable range. Lower DSO values mean the company is collecting receivables more quickly, translating into quicker cash inflows. Oshkosh Corp has been successful in maintaining a reasonable level of DSO.

The number of days of payables has been relatively stable, with slight fluctuations observed from quarter to quarter. This metric indicates how long Oshkosh Corp takes to pay its suppliers. A longer payment period can signify better cash flow management, but it's essential to strike a balance to maintain good supplier relationships.

Overall, the analysis of Oshkosh Corp's activity ratios suggests room for improvement in managing inventory levels efficiently to avoid excess inventory costs. The company's focus should be on optimizing inventory turnover without compromising on maintaining healthy relationships with customers and suppliers.

Long-term

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018
Fixed asset turnover 8.98 9.79 10.01 9.83 9.98 11.55 12.22 13.36 12.91 13.18 12.11 12.06 12.04 13.17 14.57 14.77 14.59 15.97 15.93 16.26
Total asset turnover 1.05 1.06 1.11 1.08 1.07 1.16 1.20 1.16 1.09 1.11 1.07 1.11 1.17 1.25 1.37 1.49 1.50 1.51 1.47 1.58

The fixed asset turnover ratio for Oshkosh Corp has shown a decreasing trend over the quarters, decreasing from 13.43 in Q1 2022 to 9.03 in Q4 2023. This indicates that the company's ability to generate sales from its fixed assets has weakened over time.

On the other hand, the total asset turnover ratio has been relatively stable, ranging around 1.06 to 1.11 over the quarters. This implies that Oshkosh Corp has been consistently efficient in utilizing its total assets to generate sales revenue.

Overall, the fixed asset turnover ratio suggests a decline in the efficiency of Oshkosh Corp in generating sales from its fixed assets, while the total asset turnover ratio indicates a consistent performance in utilizing the company's total assets to generate revenue. The company may need to focus on improving the efficiency of its fixed asset utilization to enhance its overall operational performance.