Oshkosh Corporation (OSK)

Financial leverage ratio

		Dec 31, 2023	Dec 31, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Total assets	US$ in thousands	9,129,200	7,729,000	7,035,700	5,815,900	5,566,300
Total stockholders’ equity	US$ in thousands	3,705,300	3,185,700	3,357,700	2,850,700	2,599,800
Financial leverage ratio		2.46	2.43	2.10	2.04	2.14

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $9,129,200K ÷ $3,705,300K
= 2.46

The financial leverage ratio of Oshkosh Corp has shown a general increasing trend over the past five years, indicating an increasing level of financial leverage. The ratio stood at 2.46 as of December 31, 2023, compared to 2.43 in the previous year and 2.14 in 2019. This suggests that the company relies more on debt financing relative to equity financing. It peaked at 2.46 in 2023, indicating a higher proportion of debt in the company's capital structure. Overall, the trend in the financial leverage ratio implies that Oshkosh Corp has been increasing its leverage over the years, which may have implications for its financial risk and stability.