Oshkosh Corporation (OSK)

Solvency ratios

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
Debt-to-assets ratio 0.06 0.06 0.06 0.07 0.07 0.07 0.08 0.08 0.09 0.09 0.09 0.12 0.12 0.13 0.14 0.14 0.14 0.14 0.15 0.15
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
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
Financial leverage ratio 2.41 2.48 2.48 2.46 2.50 2.37 2.44 2.43 2.41 2.38 2.35 2.10 2.08 2.10 2.05 2.04 2.08 2.18 2.07 2.14

The solvency ratios of Oshkosh Corporation have displayed relatively stable trends over the past several quarters. The debt-to-assets ratio has remained low, ranging between 0.06 to 0.15, indicating a conservative level of reliance on debt to finance its assets. The company's debt-to-capital and debt-to-equity ratios have also shown consistency, with values hovering around 0.13 to 0.24 and 0.15 to 0.32, respectively. These ratios suggest that Oshkosh maintains a healthy balance between debt and equity in its capital structure.

The financial leverage ratio, which measures the extent of debt usage to support its operations, has fluctuated within a narrow range from 2.04 to 2.50. This indicates that Oshkosh has maintained a stable level of financial leverage in relation to its equity position.

Overall, the solvency ratios of Oshkosh Corporation reflect a prudent approach to managing its financial obligations and capital structure, with a consistent and balanced mix of debt and equity to support its operations and growth initiatives.

Coverage ratios

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
Interest coverage 9.09 10.31 12.45 12.21 12.71 11.60 8.70 6.97 7.00 9.08 10.75 12.28 12.32 10.28 8.23 8.24 9.25 11.28 13.86 14.65

The interest coverage ratio of Oshkosh Corporation has exhibited some fluctuations over the past 20 quarters. The ratio has generally been above 1, indicating that the company is generating enough operating income to cover its interest expenses.

Analyzing the trend, we observe that the interest coverage ratio has shown a general increasing trend from 2019 to 2022, peaking in the third quarter of 2022. This indicates improving ability to cover interest expenses with operating income during this period. However, there was a slight dip in the fourth quarter of 2022 and first quarter of 2023 before the ratio started increasing again.

The interest coverage ratio reached its highest point in the fourth quarter of 2023. From that point on, the ratio has shown some variability, but has generally remained at healthy levels above 6. Considering the most recent data point of 9.09 in the third quarter of 2024, it suggests that the company's ability to meet interest obligations with its operating income has improved compared to the recent years.

Overall, Oshkosh Corporation's interest coverage ratio indicates a solid ability to meet its interest obligations with operating profits, providing a favorable outlook in terms of its financial stability and creditworthiness.