Oshkosh Corporation (OSK)

Debt-to-equity ratio

		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
Long-term debt	US$ in thousands	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	818,700	818,500	818,300
Total stockholders’ equity	US$ in thousands	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	2,596,900	2,499,700	2,411,200
Debt-to-equity ratio		0.16	0.17	0.18	0.18	0.19	0.21	0.21	0.20	0.24	0.25	0.27	0.28	0.29	0.30	0.30	0.31	0.32	0.32	0.33	0.34

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 some fluctuations over the past eight quarters, ranging from 0.18 to 0.31. In Q3 2023, the ratio was at its highest point of 0.31, indicating that the company had a higher proportion of debt relative to equity during that period. However, in Q2 2023 and Q1 2023, the ratio decreased to 0.18, which suggests a more conservative capital structure with a lower level of debt compared to equity.

Overall, Oshkosh Corp has maintained a relatively stable debt-to-equity ratio, fluctuating within a narrow range between 0.18 and 0.31. This indicates that the company has managed its capital structure well, balancing its use of debt and equity financing to support its operations and growth strategies. It is important for investors and stakeholders to monitor this ratio to assess the company's financial leverage and risk levels over time.