Oshkosh Corporation (OSK)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Long-term debt	US$ in thousands	597,500	595,000	818,800	817,900	819,000
Total stockholders’ equity	US$ in thousands	3,705,300	3,185,700	3,357,700	2,850,700	2,599,800
Debt-to-capital ratio		0.14	0.16	0.20	0.22	0.24

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $597,500K ÷ ($597,500K + $3,705,300K)
= 0.14

The debt-to-capital ratio for Oshkosh Corp has shown a decreasing trend over the past five years, which indicates improved financial strength and stability. The ratio decreased from 0.24 in September 2019 to 0.17 in December 2023. This suggests that the company has been reducing its reliance on debt to finance its operations and investments, and has been increasing its equity portion in its capital structure. A lower debt-to-capital ratio is generally viewed favorably by investors and creditors as it signifies a lower level of financial risk. Overall, the declining trend in Oshkosh Corp's debt-to-capital ratio demonstrates a positive trend in the company's financial health and capital structure management.