Oshkosh Corporation (OSK)

Debt-to-equity 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-equity ratio		0.15	0.15	0.16	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

September 30, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $602,300K ÷ $4,102,000K
= 0.15

The debt-to-equity ratio of Oshkosh Corporation has been relatively stable over the past few quarters, fluctuating within the range of 0.15 to 0.32. It indicates that the company has been maintaining a healthy balance between its debt and equity levels. A lower debt-to-equity ratio suggests that the company relies more on equity financing rather than debt, which generally indicates financial stability and lower risk.

The decreasing trend in the debt-to-equity ratio from 0.32 in Sep 2019 to 0.15 in Sep 2024 indicates that the company has been reducing its reliance on debt to fund its operations and growth, which might be a positive sign to investors and creditors. However, it is essential to monitor this ratio carefully to ensure that the company's capital structure remains optimal for its business operations and growth strategies over time.