Oshkosh Corporation (OSK)

Debt-to-capital ratio

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	602,300	599,100	598,900	597,500	597,500	597,300	595,200	595,000	594,800	594,600	594,400	818,800	818,600	818,300	818,100	817,900	817,600	817,400	819,200	819,000
Total stockholders’ equity	US$ in thousands	4,102,000	3,924,900	3,826,000	3,705,300	3,543,300	3,396,800	3,247,200	3,185,700	2,891,300	2,877,000	2,968,000	3,357,700	3,228,700	3,018,200	2,932,600	2,850,700	2,768,900	2,689,000	2,681,100	2,599,800
Debt-to-capital ratio		0.13	0.13	0.14	0.14	0.14	0.15	0.15	0.16	0.17	0.17	0.17	0.20	0.20	0.21	0.22	0.22	0.23	0.23	0.23	0.24

September 30, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $602,300K ÷ ($602,300K + $4,102,000K)
= 0.13

The debt-to-capital ratio of Oshkosh Corporation has exhibited a slight upward trend over the last few quarters, increasing from 0.13 in September 2019 to 0.24 in September 2021. This indicates that the company's reliance on debt as a source of financing relative to its capital structure has been gradually increasing.

A higher debt-to-capital ratio suggests that a larger portion of the company's capital structure is funded by debt, which can increase financial risk and interest expenses. Conversely, a lower ratio indicates a more conservative capital structure with a higher proportion of equity financing.

It is important for investors and stakeholders to monitor changes in the debt-to-capital ratio over time as it can provide insights into the company's financial health, risk profile, and ability to meet its debt obligations. Additionally, comparing Oshkosh Corporation's ratio with industry peers and historical performance can help in assessing its competitiveness and financial stability.