Oshkosh Corporation (OSK)

Debt-to-equity 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-equity ratio		0.16	0.19	0.24	0.29	0.32

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $597,500K ÷ $3,705,300K
= 0.16

The debt-to-equity ratio of Oshkosh Corp has shown a declining trend over the past few years, indicating a strengthening financial position in terms of leverage. As of December 31, 2023, the ratio stood at 0.21, which means that for every dollar of equity, the company has $0.21 of debt. This suggests that Oshkosh Corp relies less on debt financing and has a solid equity base to support its operations and growth. The decreasing trend from 0.32 in 2019 to 0.21 in 2023 reflects a prudent management strategy to reduce financial risk and enhance stability. Overall, the declining debt-to-equity ratio demonstrates an improving financial health and efficient capital structure for Oshkosh Corp.