Oshkosh Corporation (OSK): History, Ownership, Mission, How It Works & Makes Money

Ever wonder about the company behind some of the most specialized vehicles and equipment you see around? Oshkosh Corporation, with a market cap of $5.55 billion as of April 2025, stands as a key player in creating purpose-built solutions for various sectors. But how exactly did this Wisconsin-based innovator, recognized as one of the World's Most Ethical Companies for the tenth consecutive year, achieve a $10.73 billion revenue in 2024?

From defense to emergency services, this corporation impacts numerous industries, achieving a 11.1% revenue increase from 2023 to 2024. Read on to discover the history, ownership structure, and the unique way this corporation operates and generates revenue, solidifying its position as a leader in purpose-built vehicles and equipment.

Oshkosh Corporation (OSK) History

Oshkosh Corporation Founding Timeline

Year established

The company was established in 1917.

Original location

The company was founded in Oshkosh, Wisconsin.

Founding team members

The founding team members included William Besserdich and Bernhard Mosling.

Initial capital/funding

The initial capital for the company was $36,000.

Oshkosh Corporation Evolution Milestones

Oshkosh Corporation Transformative Moments

Several transformative moments have shaped the trajectory of the company:

• Early Focus on Four-Wheel Drive Technology: The decision to specialize in four-wheel-drive technology set the company apart in its early years, allowing it to produce trucks capable of handling challenging terrains and heavy loads.
• Diversification into Military Contracts: Entering the military market in the 1950s provided a stable revenue stream and allowed the company to develop advanced technologies for defense applications.
• Acquisition of JLG Industries in 2006: This acquisition significantly broadened the company's product portfolio and market presence, making it a major player in the access equipment industry.
• Winning the JLTV Contract in 2015: Securing the JLTV contract was a pivotal moment, solidifying the company's position as a leading supplier of military vehicles and driving substantial revenue growth.

To gain more insights into the company's guiding principles, explore Mission Statement, Vision, & Core Values of Oshkosh Corporation (OSK).

Oshkosh Corporation (OSK) Ownership Structure

Oshkosh Corporation operates as a public company, meaning its ownership is distributed among shareholders who can trade their shares on the open market. This structure allows for diverse investment and broader access to capital.

Oshkosh Corporation's Current Status

Oshkosh Corporation is a publicly traded company. Its shares are listed on the New York Stock Exchange (NYSE) under the ticker symbol OSK. As a public entity, it is subject to regulatory oversight and reporting requirements, providing transparency to investors and stakeholders. For more insights into the company's guiding principles, you might find this resource helpful: Mission Statement, Vision, & Core Values of Oshkosh Corporation (OSK).

Oshkosh Corporation's Ownership Breakdown

The ownership of Oshkosh Corporation is distributed among various shareholders, including institutional investors, individual shareholders, and company insiders. The following table summarizes the ownership percentages held by different types of shareholders:

Oshkosh Corporation's Leadership

Oshkosh Corporation is guided by a team of experienced leaders who oversee the company's strategic direction and operational execution. Key members of the leadership team include:

• John C. Pfeifer: Chairman and Chief Executive Officer
• Michael P. Pack: Executive Vice President and Chief Financial Officer
• Jay Iyengar: Executive Vice President and Chief Technology and Strategic Sourcing Officer

These individuals, along with other senior leaders, are responsible for driving Oshkosh Corporation's growth, innovation, and financial performance.

Oshkosh Corporation (OSK) Mission and Values

Oshkosh Corporation aims to provide innovative solutions that support critical missions, focusing on safety, efficiency, and performance. The company's values emphasize integrity, teamwork, and a commitment to customer success.

Oshkosh Corporation's Core Purpose

Official mission statement

Oshkosh Corporation's mission statement is: 'We provide mission-critical integrated solutions to make a difference in people’s lives.'

• This statement reflects the company's dedication to creating products and services that have a significant, positive impact on the lives of its customers and the communities they serve.
• The focus is on delivering comprehensive solutions rather than just individual products, highlighting the integrated nature of their offerings.

Vision statement

Oshkosh Corporation's vision is: 'To be a global leader in providing access equipment, fire & emergency vehicles, defense technology and vocational trucks where every day we connect with and listen to customers to provide smart solutions to solve their toughest challenges.'

• This vision emphasizes global leadership across its diverse business segments, including access equipment, fire & emergency vehicles, defense, and vocational trucks.
• It highlights the importance of customer engagement and responsiveness in developing solutions.
• The vision underscores a commitment to innovation and problem-solving, positioning the company as a provider of 'smart solutions' for complex challenges.

Company slogan/tagline

Oshkosh Corporation's tagline is 'Making a Difference in People's Lives.^®'

• This tagline reinforces the company's overarching commitment to creating a positive impact through its products and services.
• It serves as a concise and memorable expression of the company's core purpose, emphasizing the human element of its business activities.

For more in-depth information, you can visit: Mission Statement, Vision, & Core Values of Oshkosh Corporation (OSK).

Oshkosh Corporation (OSK) How It Works

Oshkosh Corporation designs and manufactures a wide range of specialty vehicles and equipment, focusing on access equipment, defense vehicles, fire & emergency vehicles, and commercial vehicles, tailoring its offerings to diverse sectors globally.

Oshkosh Corporation's Product/Service Portfolio

Oshkosh Corporation's Operational Framework

Oshkosh Corporation operates through four main segments, each contributing uniquely to its overall value creation:

• Access Equipment: This segment, which includes the JLG brand, focuses on designing and manufacturing mobile elevating work platforms and telehandlers. These products are essential for construction, industrial maintenance, and warehousing, providing solutions for working at height safely and efficiently.
• Defense: This segment produces tactical wheeled vehicles for the U.S. military and international defense forces. These vehicles are engineered for mobility and protection in combat and support operations.
• Fire & Emergency: This segment manufactures custom fire apparatus, ambulances, and other emergency vehicles. These vehicles are designed to meet the specific needs of fire departments and emergency medical services, ensuring rapid response and reliability.
• Commercial: This segment produces concrete mixers, refuse collection vehicles, and other heavy-duty trucks. These vehicles are built for durability and efficiency, serving essential roles in construction and waste management.

Oshkosh Corporation's Strategic Advantages

Oshkosh Corporation has several strategic advantages that enable its market success:

• Diversified Product Portfolio: With offerings spanning access equipment, defense, fire & emergency, and commercial vehicles, Oshkosh serves multiple sectors, reducing its dependence on any single market.
• Strong Brand Recognition: Brands like JLG are well-recognized and respected in their respective industries, reflecting a reputation for quality and innovation.
• Custom Engineering Capabilities: Oshkosh excels in designing and manufacturing vehicles and equipment tailored to specific customer requirements, providing a competitive edge in specialized markets.
• Extensive Service and Support Network: The company supports its products with a comprehensive service and support network, ensuring customer satisfaction and repeat business.

To gain more insights into Oshkosh Corporation's financial performance, consider exploring Breaking Down Oshkosh Corporation (OSK) Financial Health: Key Insights for Investors.

Oshkosh Corporation (OSK) How It Makes Money

Oshkosh Corporation primarily makes money by designing, manufacturing, and marketing a wide range of specialty vehicles and equipment. These products are sold to various sectors, including defense, fire and emergency, commercial, and access equipment.

Oshkosh Corporation's Revenue Breakdown

Oshkosh operates through four primary segments. Here’s a look at how revenue is generated across these segments, based on the 2024 fiscal year:

Oshkosh Corporation's Business Economics

Oshkosh's business economics are influenced by several key factors:

• Pricing Strategies: Oshkosh employs a mix of cost-plus and value-based pricing strategies. For defense contracts, pricing is often determined through negotiations with government entities, focusing on cost recovery plus a reasonable profit margin. In commercial and access equipment, pricing is more market-driven, considering competitive pressures and the unique value proposition of their products.
• Government Contracts: A significant portion of Oshkosh's revenue comes from government contracts, particularly in the defense sector. These contracts often involve long-term agreements, providing a stable revenue stream but also exposing the company to political and budgetary risks.
• Economic Cycles: Demand for commercial and access equipment is closely tied to economic cycles. During economic expansions, construction and infrastructure development increase, driving demand for Oshkosh's products. Conversely, economic downturns can lead to decreased demand and lower revenues.
• Innovation and Technology: Investing in research and development to create technologically advanced and environmentally friendly products is crucial. This innovation can command premium pricing and capture new market segments.

Oshkosh Corporation's Financial Performance

Key aspects of Oshkosh Corporation's financial performance include:

• Revenue Growth: Oshkosh has demonstrated fluctuating revenue growth, influenced by both organic expansion and strategic acquisitions. Recent growth in the access equipment and fire & emergency segments has helped offset declines in other areas. In fiscal year 2024, Oshkosh reported consolidated net sales of $9.66 billion, an increase of 8.1% compared to 2023.
• Profit Margins: Gross profit margins vary by segment. The defense segment typically has lower margins due to the nature of government contracts, while the access equipment segment often enjoys higher margins. Oshkosh reported a consolidated gross profit margin of 23.4% for fiscal year 2024.
• Operating Expenses: Monitoring and controlling operating expenses is vital for maintaining profitability. These expenses include selling, general, and administrative costs, as well as research and development expenditures.
• Net Income: Net income is a critical indicator of overall financial health. Factors such as revenue growth, cost management, and tax rates influence it. For fiscal year 2024, Oshkosh's net income was $614.7 million, or $9.29 per diluted share, compared to $338.4 million, or $5.04 per diluted share, in the prior year.
• Cash Flow: Strong cash flow from operations enables Oshkosh to invest in growth initiatives, pay dividends, and reduce debt.

To gain more insight into who is investing in Oshkosh and why, check out: Exploring Oshkosh Corporation (OSK) Investor Profile: Who’s Buying and Why?

Oshkosh Corporation (OSK) Market Position & Future Outlook

Oshkosh Corporation stands as a prominent innovator of mission-critical vehicles and equipment, holding a strong position across its access equipment, vocational, and defense segments. With a focus on long-term growth drivers and strategic acquisitions, the company is poised to maintain a robust market presence. As of April 2025, Oshkosh is navigating short-term market softness in its Access segment while anticipating growth in Vocational and Defense. The company's financial performance in 2024 saw net sales of $10.76 billion and net income of $681.4 million, or $10.35 per diluted share.

Competitive Landscape

Opportunities & Challenges

Industry Position

Oshkosh Corporation operates in several key industries, including automotive, arms, and manufacturing. The company is known for:

• Being named one of the World's Most Trustworthy Companies by Newsweek in 2024.
• Ranking No. 3 in the USA in the Vehicles & Components Services category.
• Being recognized as one of America's Most Responsible Companies.
• Being listed on the Dow Jones Sustainability World Index.

The company's commitment to ethical practices is further underscored by its recognition as one of the World's Most Ethical Companies for the ninth consecutive year in 2024. Learn more about the company's values: Mission Statement, Vision, & Core Values of Oshkosh Corporation (OSK).