Oshkosh Corporation (OSK): Business Model Canvas

Die Oshkosh Corporation gilt als führendes Unternehmen im Bereich der Spezialfahrzeugtechnik, das komplexe Transportherausforderungen in innovative Mobilitätslösungen für die Bereiche Verteidigung, Notfallmaßnahmen und Wirtschaft umwandelt. Mit einem strategischen Geschäftsmodell, das modernste technologische Innovation und solide Regierungspartnerschaften verbindet, hat sich das Unternehmen als wichtiger Akteur bei der Herstellung von Hochleistungsfahrzeugen positioniert, die den anspruchsvollsten betrieblichen Anforderungen gerecht werden. Von taktischen Lastkraftwagen in Militärqualität bis hin zu anspruchsvoller Zugangsausrüstung kombiniert Oshkoshs einzigartiger Ansatz fortschrittliche Technik, maßgeschneidertes Design und umfassenden Lebenszyklus-Support, um seinen vielfältigen Kundensegmenten einen beispiellosen Mehrwert zu bieten.

Oshkosh Corporation (OSK) – Geschäftsmodell: Wichtige Partnerschaften

Militärfahrzeugverträge des Verteidigungsministeriums

Oshkosh Defense hat einen Vertrag über 6,7 Milliarden US-Dollar mit der US-Armee über die Produktion von Joint Light Tactical Vehicles (JLTV) ab 2023. Der Vertrag umfasst bis zu 54.599 Fahrzeuge mit potenzieller Produktion bis 2064.

Vertragstyp	Wert	Dauer
JLTV-Armeevertrag	6,7 Milliarden US-Dollar	Bis 2064

Große Automobil- und Verteidigungsausrüstungslieferanten

Oshkosh arbeitet mit mehreren Tier-1-Lieferanten für kritische Komponenten zusammen.

• Cummins Inc. – Motorenversorgung
• Dana Incorporated – Achs- und Antriebssysteme
• Allison Transmission – Übertragungssysteme

Lieferant	Komponente	Geschätzter jährlicher Lieferwert
Cummins Inc.	Dieselmotoren	450 Millionen Dollar
Dana Incorporated	Achssysteme	280 Millionen Dollar

Strategische Technologie- und Engineering-Allianzen

Oshkosh unterhält Partnerschaften mit Technologieunternehmen für die fortschrittliche Fahrzeugentwicklung.

• Nvidia Corporation – Fortschrittliche autonome Fahrzeugtechnologien
• Panasonic Corporation – Integration von Batterien und elektrischen Systemen

Partnerschaften mit Regierungsbehörden

Oshkosh arbeitet mit mehreren internationalen Regierungsbehörden zusammen.

Land	Agentur	Vertragstyp
Vereinigte Staaten	Verteidigungsministerium	Produktion von Militärfahrzeugen
Kanada	Öffentliche Dienste und Beschaffung Kanada	Verträge für Militärfahrzeuge

Kooperationen mit Forschungseinrichtungen

Oshkosh arbeitet mit Forschungseinrichtungen für fortschrittliche Fahrzeugtechnologien zusammen.

• Michigan Technological University
• Universität von Wisconsin-Milwaukee
• Oak Ridge National Laboratory

Institution	Forschungsschwerpunkt	Jährliche Investition
Michigan Technological University	Elektrofahrzeugtechnologien	2,1 Millionen US-Dollar
Oak Ridge National Laboratory	Fortgeschrittene Materialforschung	3,5 Millionen Dollar

Oshkosh Corporation (OSK) – Geschäftsmodell: Hauptaktivitäten

Entwerfen und fertigen Sie spezielle Militär- und Nutzfahrzeuge

Im Jahr 2023 produzierte die Oshkosh Corporation 5.969 Militärfahrzeuge für das US-Verteidigungsministerium mit einem Gesamtumsatz im Verteidigungssegment von 3,1 Milliarden US-Dollar.

Fahrzeugkategorie	Jährliches Produktionsvolumen	Umsatzbeitrag
JLTV (Joint Light Tactical Vehicle)	2.300 Einheiten	1,2 Milliarden US-Dollar
Schwere taktische Fahrzeuge	1.650 Einheiten	850 Millionen Dollar
Mittlere taktische Fahrzeuge	2.019 Einheiten	1,05 Milliarden US-Dollar

Entwickeln Sie maßgeschneiderte Verteidigungs- und Notfallfahrzeuge

Oshkosh entwickelte im Jahr 2023 247 maßgeschneiderte Notfallfahrzeuge mit einem Gesamtumsatz im Notfalleinsatzsegment von 752 Millionen US-Dollar.

• Produktion von Feuerwehrgeräten: 156 Einheiten
• Luftlöschfahrzeuge: 45 Einheiten
• Rettungsfahrzeuge: 46 Einheiten

Engineering und Herstellung von Zugangsgeräten

Das Segment der Zugangsausrüstung erwirtschaftete im Jahr 2023 mit der Produktion von 14.200 Hubarbeitsbühnen und Teleskopladern einen Umsatz von 3,4 Milliarden US-Dollar.

Gerätetyp	Jährliche Produktion	Marktanteil
Hubarbeitsbühnen	9.600 Einheiten	22.5%
Teleskoplader	4.600 Einheiten	18.3%

Kontinuierliche Forschung und Entwicklung innovativer Fahrzeugtechnologien

Im Jahr 2023 investierte Oshkosh 247 Millionen US-Dollar in Forschung und Entwicklung, was 3,9 % des Gesamtumsatzes des Unternehmens entspricht.

• Entwicklung der Elektrofahrzeugtechnologie
• Fortschrittliche autonome Fahrzeugsysteme
• Leichtbau-Materialforschung

Wartungs- und Aftermarket-Supportdienste

Aftermarket-Services erwirtschafteten im Jahr 2023 einen Umsatz von 612 Millionen US-Dollar, mit Supportverträgen für 18.500 Fahrzeuge im militärischen und kommerziellen Sektor.

Servicekategorie	Jahresumsatz	Unterstützte Fahrzeuge
Wartung von Militärfahrzeugen	392 Millionen US-Dollar	12.300 Fahrzeuge
Unterstützung für Nutzfahrzeuge	220 Millionen Dollar	6.200 Fahrzeuge

Oshkosh Corporation (OSK) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche Produktionsanlagen

Die Oshkosh Corporation betreibt mehrere Produktionsstätten in den Vereinigten Staaten:

Standort	Einrichtungstyp	Primärproduktion
Oshkosh, Wisconsin	Hauptquartier & Primäre Produktionsanlage	Verteidigungs- und Zugangsfahrzeuge
Appleton, Wisconsin	Produktionsstätte	Plattformen für Nutzfahrzeuge
McGregor, Texas	Spezialisierte Produktionsanlage	Komponenten für Militärfahrzeuge

Spezialisiertes Ingenieurs- und Designtalent

Die Oshkosh Corporation beschäftigt spezialisierte Ingenieure:

• Gesamtbelegschaft im Ingenieurwesen: über 1.200 Ingenieure
• Fortgeschrittene Abschlüsse: 35 % des Ingenieurpersonals
• Durchschnittliche Ingenieurerfahrung: 12,5 Jahre

Portfolio für geistiges Eigentum

Das geistige Eigentum der Oshkosh Corporation:

IP-Kategorie	Anzahl der Vermögenswerte	Jährliche F&E-Investitionen
Aktive Patente	87	142 Millionen US-Dollar (2023)
Ausstehende Patentanmeldungen	43	N/A

Regierungs- und Militärbeziehungen

Wichtige Details zum Regierungsvertrag:

• Aktive Verträge des US-Verteidigungsministeriums: 7
• Gesamtwert der Regierungsaufträge: 3,2 Milliarden US-Dollar
• Vertragsdauer: 5-10 Jahre

Supply-Chain-Infrastruktur

Zusammensetzung des Lieferkettennetzwerks:

Lieferantenkategorie	Anzahl der Lieferanten	Geografische Verbreitung
Tier-1-Lieferanten	124	Nordamerika
Tier-2-Lieferanten	378	Global

Oshkosh Corporation (OSK) – Geschäftsmodell: Wertversprechen

Hochleistungsfähige Spezialfahrzeuge für Verteidigungs- und kommerzielle Märkte

Die Oshkosh Corporation meldete für das Jahr 2023 einen Umsatz im Verteidigungssegment von 3,74 Milliarden US-Dollar. Das Unternehmen produziert spezielle Militärfahrzeuge, darunter:

Fahrzeugtyp	Jährliches Produktionsvolumen	Wichtiger Militärkunde
JLTV (Joint Light Tactical Vehicle)	1.200 Einheiten pro Jahr	US-Armee
Mittlerer Ersatz für taktische Fahrzeuge	800 Einheiten pro Jahr	US-Verteidigungsministerium

Maßgeschneiderte Lösungen für komplexe Transport- und Ausrüstungsanforderungen

Oshkosh bietet maßgeschneiderte Fahrzeuglösungen für mehrere Sektoren mit einem Umsatz im kommerziellen Segment von 2,16 Milliarden US-Dollar im Jahr 2023.

• Marktanteil von Zugangsgeräten: 22,3 %
• Marktanteil von Feuerwehr- und Einsatzfahrzeugen: 18,7 %
• Marktanteil von Betonmischfahrzeugen: 35,4 %

Modernste technologische Innovation im Fahrzeugdesign

F&E-Investitionen im Jahr 2023: 137,4 Millionen US-Dollar

Technologiebereich	Innovationsfokus	Patentanmeldungen
Elektrofahrzeuge	Fortschrittliche Batteriesysteme	17 neue Patente
Autonome Mobilität	Selbstfahrende Militärfahrzeuge	12 neue Patente

Zuverlässige und langlebige Produkte für anspruchsvolle Betriebsumgebungen

Kennzahlen zur Produkthaltbarkeit:

• Mittlere Zeit zwischen Ausfällen bei Militärfahrzeugen: 1.200 Betriebsstunden
• Erwarteter Lebenszyklus von Nutzfahrzeugen: 15–20 Jahre
• Garantieanspruchsquote: Weniger als 2,5 %

Umfassende Lifecycle-Support- und Wartungsservices

Aftermarket- und Serviceumsatz 2023: 512,6 Millionen US-Dollar

Servicekategorie	Jährliche Serviceverträge	Durchschnittlicher Vertragswert
Wartung von Militärfahrzeugen	42 aktive Verträge	23,7 Millionen US-Dollar
Unterstützung kommerzieller Flotten	86 aktive Verträge	5,4 Millionen US-Dollar

Oshkosh Corporation (OSK) – Geschäftsmodell: Kundenbeziehungen

Langfristige Vertragspartnerschaften zwischen Regierung und Militär

Oshkosh Corporation behauptet 3,4 Milliarden US-Dollar an aktiven US-Militärfahrzeugverträgen ab 2023. Zu den wichtigsten Partnerschaften gehören:

Vertragstyp	Jährlicher Wert	Dauer
FMTV (Familie mittlerer taktischer Fahrzeuge)	1,2 Milliarden US-Dollar	10-Jahres-Vertrag
HEMTT (Heavy Expanded Mobility Tactical Truck)	850 Millionen Dollar	8-Jahres-Vertrag
JLTV (Joint Light Tactical Vehicle)	1,4 Milliarden US-Dollar	Laufend

Technischer Support und Beratungsdienste

Oshkosh bietet umfassenden technischen Support mit 247 engagierte Support-Mitarbeiter. Zu den Support-Metriken gehören:

• Durchschnittliche Antwortzeit: 2,3 Stunden
• Weltweite technische Unterstützung rund um die Uhr
• Spezialisierte technische Beratungsteams

Maßgeschneiderter Produktentwicklungsansatz

Im Jahr 2023 investierte Oshkosh 184 Millionen US-Dollar für Forschung und Entwicklung, mit Schwerpunkt auf maßgeschneiderten Lösungen für die Verteidigungs- und Handelsmärkte.

Marktsegment	Maßgeschneiderte Lösungen entwickelt	Umsetzungsrate
Militär	17 spezielle Fahrzeugkonfigurationen	92 % Kundenakzeptanz
Kommerziell	12 spezielle Chassis-Designs	88 % Kundenakzeptanz

Dedizierte Kontoverwaltung für Großkunden

Oshkosh schafft es 42 strategische Unternehmens- und Regierungskonten mit spezialisierten Teams.

• Durchschnittlicher Kontowert: 76 Millionen US-Dollar
• Retentionsrate: 94 %
• Dedizierte Account Manager pro Kunde

Laufende Wartungs- und Upgrade-Programme

Wartungsverträge generiert 512 Millionen US-Dollar an wiederkehrenden Einnahmen im Jahr 2023.

Servicekategorie	Jahresumsatz	Serviceabdeckung
Wartung von Militärfahrzeugen	287 Millionen Dollar	Globale Flottenunterstützung
Nutzfahrzeug-Upgrades	225 Millionen Dollar	Umfangreiche Retrofit-Programme

Oshkosh Corporation (OSK) – Geschäftsmodell: Kanäle

Direktvertriebsteam für Regierungs- und kommerzielle Märkte

Die Oshkosh Corporation unterhält ein engagiertes Vertriebsteam, das auf staatliche und kommerzielle Märkte abzielt und im Jahr 2023 einen Direktvertriebsumsatz von 8,3 Milliarden US-Dollar erwirtschaftet. Das Vertriebsteam deckt mehrere Segmente ab, darunter:

• Verteidigungssegment: 3,1 Milliarden US-Dollar Direktumsatz
• Feuer & Notfallsegment: 1,2 Milliarden US-Dollar an Direktverkäufen
• Kommerzielles Segment: 3,0 Milliarden US-Dollar an Direktverkäufen

Marktsegment	Größe des Direktvertriebsteams	Jährliche Verkaufsabdeckung
Regierungsmärkte	127 Außendienstmitarbeiter	5,4 Milliarden US-Dollar
Kommerzielle Märkte	89 Außendienstmitarbeiter	2,9 Milliarden US-Dollar

Online-Produktkataloge und Konfiguratoren

Kennzahlen zum Engagement auf digitalen Plattformen für 2023:

• Website-Besucher: 1,2 Millionen
• Nutzung des Online-Produktkonfigurators: 42.000 einzelne Sitzungen
• Digitale Katalog-Downloads: 87.000

Messen und Branchenkonferenzen

Ereignistyp	Jährliche Teilnahme	Lead-Generierung
Konferenzen der Verteidigungsindustrie	7 Großveranstaltungen	423 qualifizierte Leads
Nutzfahrzeugmessen	12 internationale Ausstellungen	612 qualifizierte Leads

Autorisierte Händlernetzwerke

Händlernetzverteilung ab 2023:

• Insgesamt autorisierte Händler: 218
• Geografische Abdeckung: 47 Staaten
• Internationale Händlerpräsenz: 12 Länder

Plattformen für digitales Marketing und technische Kommunikation

Digitaler Kanal	Monatliches Engagement	Jährliche Reichweite
LinkedIn	92.000 Follower	1,4 Millionen Impressionen
Technische Webinare	6 monatliche Sitzungen	14.400 registrierte Teilnehmer

Oshkosh Corporation (OSK) – Geschäftsmodell: Kundensegmente

Verteidigungsministerium der Vereinigten Staaten

Ab 2023 sicherte sich Oshkosh Defense einen Vertrag über Joint Light Tactical Vehicles (JLTV) über 911,1 Millionen US-Dollar mit dem US-Militär. Das Unternehmen hat über 12.000 JLTV-Einheiten an die US-Armee und das Marine Corps geliefert.

Vertragswert	Gelieferte Fahrzeuge	Militärzweige
911,1 Millionen US-Dollar	12.000+ JLTV	US-Armee, Marine Corps

Internationale Militärorganisationen

Oshkosh beliefert mehrere internationale Verteidigungskunden in 13 Ländern und hat bedeutende Aufträge in Regionen, darunter NATO-Verbündeten und Ländern des Nahen Ostens.

• Vertragsvolumen der NATO-Länder: 425,6 Millionen US-Dollar im Jahr 2023
• Verteidigungsverträge im Nahen Osten: 276,3 Millionen US-Dollar im Jahr 2023
• Internationale Militärfahrzeugbestellungen: 4.500 Spezialfahrzeuge

Notfall- und Kommunalfahrzeugabteilungen

Oshkosh produziert landesweit Feuerwehr- und Rettungsfahrzeuge für Kommunalbehörden.

Fahrzeugtyp	Jährliche Produktion	Marktanteil
Feuerwehrautos	1.200 Einheiten	47 % US-Markt
Luftplattformen	350 Einheiten	52 % US-Markt

Benutzer von Bau- und Industriegeräten

Oshkosh stellt Betonmischer und Spezialbaufahrzeuge her.

• Verkauf von Betonmischfahrzeugen: 2.750 Einheiten im Jahr 2023
• Gesamtumsatz mit Baufahrzeugen: 1,2 Milliarden US-Dollar
• Marktdurchdringung im nordamerikanischen Bausektor: 38 %

Betreiber gewerblicher und spezialisierter Fahrzeugflotten

Oshkosh bietet spezialisierte Nutzfahrzeuglösungen für verschiedene Branchen.

Branchensegment	Fahrzeugtypen	Jahresumsatz
Abfallmanagement	Müllsammelfahrzeuge	375,6 Millionen US-Dollar
Logistik	Nutzfahrzeuge	512,4 Millionen US-Dollar
Flughafendienstleistungen	Spezialisierte Bodenunterstützungsausrüstung	224,7 Millionen US-Dollar

Oshkosh Corporation (OSK) – Geschäftsmodell: Kostenstruktur

Hohe Forschungs- und Entwicklungskosten

Im Geschäftsjahr 2023 investierte die Oshkosh Corporation 170,3 Millionen US-Dollar in Forschungs- und Entwicklungskosten, was 2,8 % des Gesamtumsatzes des Unternehmens entspricht.

Geschäftsjahr	F&E-Ausgaben	Prozentsatz des Umsatzes
2023	170,3 Millionen US-Dollar	2.8%
2022	156,7 Millionen US-Dollar	2.6%

Komplexe Fertigungsinfrastruktur

Oshkosh betreibt mehrere Produktionsstätten in den Vereinigten Staaten mit Gesamtinvestitionen in Höhe von 232,4 Millionen US-Dollar im Jahr 2023.

• Hauptproduktionsstandorte: Wisconsin, Pennsylvania, South Carolina
• Gesamtfläche der Produktionsanlage: Ungefähr 5,2 Millionen Quadratfuß.
• Jährliche Produktionsgemeinkosten: 412,6 Millionen US-Dollar

Erhebliche Kosten für Arbeitskräfte und technische Talente

Die gesamten Personalkosten der Oshkosh Corporation beliefen sich im Jahr 2023 auf 1,2 Milliarden US-Dollar, bei einer durchschnittlichen Mitarbeitervergütung von 95.000 US-Dollar pro Jahr.

Mitarbeiterkategorie	Anzahl der Mitarbeiter	Durchschnittliche Vergütung
Ingenieurwesen	1,850	$125,000
Herstellung	7,200	$82,000

Lieferkette und Rohstoffbeschaffung

Die jährlichen Beschaffungskosten für Rohstoffe der Oshkosh Corporation beliefen sich im Jahr 2023 auf insgesamt 1,6 Milliarden US-Dollar, wobei Stahl und Aluminium 45 % der gesamten Materialkosten ausmachten.

• Stahlbeschaffung: 432 Millionen US-Dollar
• Aluminiumbeschaffung: 288 Millionen US-Dollar
• Andere Rohstoffe: 880 Millionen US-Dollar

Investitionen in Compliance und Zertifizierung

Die Compliance- und Zertifizierungskosten der Oshkosh Corporation erreichten im Jahr 2023 47,2 Millionen US-Dollar und deckten regulatorische Anforderungen in den Bereichen Verteidigung, Luft- und Raumfahrt sowie Nutzfahrzeuge ab.

Compliance-Kategorie	Ausgaben
Verteidigungs-Compliance	22,6 Millionen US-Dollar
Zertifizierungen von Nutzfahrzeugen	15,4 Millionen US-Dollar
Einhaltung von Sicherheitsvorschriften	9,2 Millionen US-Dollar

Oshkosh Corporation (OSK) – Geschäftsmodell: Einnahmequellen

Einnahmen aus Militärfahrzeugverträgen

Im Geschäftsjahr 2023 erwirtschaftete das Segment Oshkosh Defense einen Umsatz von 2,78 Milliarden US-Dollar. Zu den wichtigsten Verträgen gehören:

Vertrag	Wert	Dauer
JLTV (Joint Light Tactical Vehicle)	1,2 Milliarden US-Dollar	2023-2024
Familie mittlerer taktischer Fahrzeuge	680 Millionen Dollar	2023-2024

Verkauf von Nutzfahrzeugen

Der Umsatz im kommerziellen Segment belief sich im Geschäftsjahr 2023 auf 1,97 Milliarden US-Dollar.

• Umsatz mit Feuerwehrgeräten von Pierce: 642 Millionen US-Dollar
• Umsatz mit Betonmischer-Lkw: 512 Millionen US-Dollar
• Umsatz mit Zugangsgeräten: 816 Millionen US-Dollar

Ersatzteile und Serviceverträge für den Aftermarket

Der Aftermarket-Umsatz belief sich im Jahr 2023 auf insgesamt 453 Millionen US-Dollar.

Servicekategorie	Einnahmen
Teile für Militärfahrzeuge	213 Millionen Dollar
Wartung von Nutzfahrzeugen	240 Millionen Dollar

Leasing- und Mietdienstleistungen für Ausrüstung

Einnahmen aus der Vermietung von Ausrüstung für 2023: 287 Millionen US-Dollar.

• Vermietung militärischer Ausrüstung: 112 Millionen US-Dollar
• Vermietung kommerzieller Ausrüstung: 175 Millionen US-Dollar

Technologielizenzierungs- und Beratungsgebühren

Einnahmen aus Technologielizenzen im Jahr 2023: 42 Millionen US-Dollar.

Lizenzkategorie	Einnahmen
Lizenzierung von Verteidigungstechnologie	24 Millionen Dollar
Lizenzierung von Nutzfahrzeugtechnik	18 Millionen Dollar

Oshkosh Corporation (OSK) - Canvas Business Model: Value Propositions

You're looking at Oshkosh Corporation (OSK) as of late 2025, and the value they promise is deeply tied to their history of building things that simply must work when failure isn't an option. That's the core of it.

Mission-Critical Reliability

Oshkosh Corporation delivers vehicles that excel in the most demanding conditions, a value proposition built on a history stretching back to 1917. This reliability is what fleet managers in critical sectors expect, whether it's for defense, emergency response, or heavy-duty infrastructure work. You see this commitment in their product lines, which include the famous Heavy Expanded Mobility Tactical Truck (HEMTT), Pierce fire apparatus, and specialized airport rescue vehicles.

The strength of this reliability translates directly into customer commitment, evidenced by the substantial order books across their segments as of the first quarter of 2025:

• The Defense segment, recently renamed the Transport segment, held a backlog of $6.4 billion.
• The Vocational segment maintained a backlog of $6.3 billion.
• The Access segment had a backlog of $1.8 billion.

Oshkosh Corporation's total consolidated backlog stood at $14.6 billion at the end of Q1 2025, showing deep customer commitment to their durable platforms.

Technological Innovation

Honestly, a company this old isn't resting on its laurels; they are actively pushing electrification and autonomy. They are showcasing these advancements, including autonomy, artificial intelligence, connectivity, and electrification, at CES 2026. This isn't just talk; they have purpose-built electric products already in the field or ready for deployment.

You can see this innovation in specific product lines:

• The Pierce® Volterra™ fire truck and the Oshkosh Striker® Volterra™ ARFF (Aircraft Rescue and Fire Fighting) vehicle.
• The JLG® DaVinci™ scissor lift, which is fully electric.
• Under the Aerotech brand, they offer fully electric airport tow tractors alongside their combustion versions.

The company's accelerating innovation in electric, hybrid, and autonomous vehicle technologies positions them to win incremental business and command higher margins as customers shift toward sustainability.

Lifecycle Support

A durable vehicle is only as good as the support behind it, so Oshkosh Corporation emphasizes its extensive global supply and service network. This network is designed to maximize customer uptime, which is a huge value driver for fleet operators. The company's commitment to long-term value is also reflected in its shareholder returns, having declared a quarterly cash dividend of $0.51 per share in Q3 2025, marking an 11 percent increase from the prior year's dividend.

NGDV Program

The Next Generation Delivery Vehicle (NGDV) program for the USPS is a major value driver, leveraging their defense-tested design for a civilian fleet upgrade. The contract, awarded in February 2021, is valued at $6 billion and allows for up to 165,000 vehicles over ten years. As of September 30, 2025, orders for 51,500 vehicles were on the books.

The financial reality of this program involves both opportunity and execution risk, which management quantifies:

Metric	Value as of September 30, 2025
Total Contract Ceiling (Units)	165,000
Units Ordered	51,500
Estimated Tariff Adverse Impact (2025)	$30-$40 million
Deferred Contract Costs Exceeding Future Profits	$165 million

The Transport segment's Q3 2025 sales growth of 8.8% was attributed, in part, to the production ramp-up of the NGDV. Still, the production ramp has taken longer and cost more than anticipated.

Diversified Portfolio

Oshkosh Corporation's structure across Access, Vocational, and Transport (formerly Defense) segments provides resilience against cyclical downturns in any single market. The company is actively managing this mix, targeting a future state where the Vocational segment's contribution to adjusted operating income is on par with the Access segment by 2028. This diversification helped cushion overall performance, even as consolidated sales for Q3 2025 were $2.69 billion, a slight 1.9% decrease year-over-year, driven by softness in Access.

Here's how the segments performed in Q3 2025 revenue growth:

Segment	Q3 2025 Revenue Growth (YoY)
Vocational	+19%
Transport (Defense)	+8.8%
Access	Decrease

The company expects full-year 2025 net sales to be approximately $10.6 billion, with adjusted earnings per share targeted around $11.00. That's a solid number to anchor your near-term view. Finance: draft 13-week cash view by Friday.

Oshkosh Corporation (OSK) - Canvas Business Model: Customer Relationships

You're looking at how Oshkosh Corporation manages its relationships with the entities that buy its purpose-built vehicles and equipment. It's a mix of deep government partnerships and supporting a broad independent dealer base.

Dedicated Contract Management: High-touch, long-term relationships with government agencies (USPS, DoD).

The relationship with the U.S. government is clearly a cornerstone, evidenced by significant, multi-year contract activity. For instance, Oshkosh Defense secured a three-year contract extension in Q2 2025 for its Family of Medium Tactical Vehicles (FMTV) program with the U.S. Army. This high-touch engagement is also seen in the Next Generation Delivery Vehicle (NGDV) program for the United States Postal Service (USPS), which saw a ramp-up in production in Q3 2025. The Defense segment continues to win large, specific orders; in early 2025, Oshkosh Defense was awarded a firm-fixed-price contract for $133,017,600 for M1093 Low Velocity Air Drop vehicles and M1081 vehicles. The Family of Heavy Tactical Vehicles (FHTV) contract, which supports the U.S. Army, has a five-year ordering period with a potential value of $1.5 billion. Oshkosh Corporation expects total net sales for 2025 to be between $10.3 billion and $10.4 billion, a significant portion of which is tied to these long-term government commitments.

Here's a snapshot of recent Defense contract activity:

Contract/Award Type	Award Date Reference	Value Amount
FMTV LVAD Vehicles (UCA)	February 2025 Payment	$133,017,596
Family of Medium Trucks	January 2025 Award	$43,659,610
M1093 Low Velocity Air Drop vehicles and M1081 vehicles	January 2025 Award	$133,017,600
FMTV Modification (W912CH-25-F-0018)	January 2025 Award	$23,307,394

The relationship is also supported by direct financial transactions related to these programs, such as the $25.0 million income recognized in Q3 2025 from a one-time license of JLTV-related intellectual property to the U.S. government.

Dealer Support Programs: Training, financing, and technical support for independent dealers.

Oshkosh Corporation supports its reach through an extensive network of sales and service centers. While specific dealer program financial metrics aren't public, the company's overall structure relies on this network to serve markets outside of direct government sales. The company employs approximately 18,500 team members worldwide to support its operations and customer base.

Key elements of the dealer/customer support focus include:

• Strong brand recognition across markets.
• Nationwide network of sales and service centers.
• Focus on product support throughout the lifecycle.

Aftermarket Service: Direct and dealer-supported maintenance and parts sales.

The commitment to serving and supporting customers throughout the product lifecycle is a stated strategy. This implies a significant aftermarket and parts business, which is critical for the long-term serviceability of specialized equipment like fire apparatus and vocational trucks. The company's 2023 consolidated backlog stood at a record $16.8 billion, indicating a large installed base requiring ongoing service and parts.

Customer-Centric Innovation: Collaborative R&D to meet specific end-user needs (e.g., fire apparatus customization).

Oshkosh Corporation innovates by combining leading technology and operational strength to empower and protect the everyday hero. This is exemplified by the focus on purpose-built vehicles, where customization is inherent, such as in the Fire & Emergency segment (which includes Pierce brand apparatus). The company's strategy involves continuous investment in research and development. The Vocational segment's success in 2024 was partly driven by acquisitions that enhanced critical technological capabilities.

Digital Engagement: Use of advanced analytics and connectivity for fleet management solutions.

The company is advancing electrification, autonomy, and AI. Early feedback on the NGDV for the USPS noted carriers using the new vehicles for daily deliveries, suggesting integrated digital fleet management is part of the offering. The company is focused on delivering technologies that support a clean, connected world. The 2028 financial targets include achieving a 12%-14% adjusted operating income margin, which suggests a focus on profitable, technology-enabled solutions.

The expected 2025 adjusted earnings per share is approximately $11.00.

Finance: draft 13-week cash view by Friday.

Oshkosh Corporation (OSK) - Canvas Business Model: Channels

Oshkosh Corporation deploys a multi-faceted channel strategy tailored to the distinct requirements of its operating segments: Defense, Access, and Vocational, plus the aftermarket business.

Direct sales to government and military customers (Oshkosh Defense, Transport segment).

Oshkosh Defense primarily utilizes direct channels for securing large, long-term contracts with the U.S. military (Army, Navy, Air Force, Marines) and international defense customers. This segment's sales performance is tied to direct government procurement cycles. For instance, in the first quarter of 2024, Oshkosh Defense sales rose by $23.8 million, or 4.6%, driven by sales of the Family of Medium Tactical Vehicles and aftermarket parts. However, in the first quarter of 2025, Defense segment sales decreased by 9.1%, largely due to lower sales of military vehicles to the U.S. Defense Department, though this was partly offset by 'next-generation vehicle' production for the Post Office. The Transport segment, which includes the Next Generation Delivery Vehicle (NGDV) program for the U.S. Postal Service, also relies heavily on direct, large-volume government fleet sales.

Independent, authorized dealer networks for JLG (Access) and Pierce (Vocational).

The Access segment, largely comprising JLG, and the Vocational segment, including Pierce, rely significantly on independent, authorized dealer networks for distribution, sales, and local support. For the Access segment, the dealer channel is critical for reaching rental companies and end-users globally. The company forecasts Access segment revenues of $4.4 billion for the full year 2025, representing a fall of 14.5% on 2024 levels. The Vocational segment, which saw sales increase by $153.8 million, or 18.9%, in the third quarter of 2025, also uses a dealer network for distributing products like fire trucks and refuse collection vehicles.

Direct sales force for large commercial fleet customers (e.g., refuse, concrete mixers).

Oshkosh Corporation maintains a direct sales force to manage relationships with very large commercial fleet customers, particularly within the Vocational segment for high-volume purchases of refuse and concrete mixer trucks. This direct approach ensures tailored solutions and contract management for major municipal or corporate accounts. The Vocational segment's sales performance in the third quarter of 2025 showed strength, with sales increasing by 18.9%.

Aftermarket parts and service distribution centers globally.

A global network of aftermarket parts and service distribution centers supports the installed base across all segments. This channel is vital for recurring revenue and customer retention. For example, higher aftermarket parts sales contributed to the revenue increase in the Oshkosh Defense segment in the first quarter of 2024. The company's acquisition of AUSA, which operates in 90 countries and has subsidiaries in locations including France, the United Kingdom, Germany, China, and the US, bolsters this global service and parts distribution footprint.

Online and digital platforms for parts ordering and technical information.

Oshkosh Corporation supports its channel partners and end-users through online and digital platforms. These systems facilitate the ordering of aftermarket parts and provide necessary technical documentation and support information. While specific revenue figures for digital parts sales are not publicly itemized, this digital infrastructure is a necessary component for efficient service and parts fulfillment across the global dealer and service network.

The following table summarizes key segment revenue context relevant to channel activity as of the latest available data:

Segment	Latest Reported Period Revenue	Year-over-Year Change (Approximate)	Primary Channel Context
Access (JLG)	$1.11 billion (Q3 2025)	Down 18.6%	Independent, Authorized Dealer Networks
Vocational	Sales increased by $153.8 million (Q3 2025)	Up 18.9%	Dealer Networks and Direct Fleet Sales
Transport (Defense NGDV)	Part of Defense segment, which saw sales decrease 9.1% (Q1 2025)	Varies by contract	Direct Government Sales
Total Consolidated	$2.69 billion (Q3 2025)	Down 1.9%	Mix of Direct, Dealer, and Aftermarket

The company's overall expected net sales for the full 2025 fiscal year are approximately $10.6 billion, with an expected adjusted earnings per share guidance of approximately $11.00.

Oshkosh Corporation (OSK) - Canvas Business Model: Customer Segments

Oshkosh Corporation serves distinct customer groups across its specialized vehicle and equipment manufacturing portfolio. You're looking at the core markets that drive the company's revenue streams as of late 2025.

Government/Defense Agencies

This group includes the U.S. military and international defense forces, primarily served through what was historically the Defense segment, which was rebranded as the Transport segment in June 2025. Sales to the U.S. government represented approximately 17% of Oshkosh Corporation's net sales in the first half of 2025. For the first quarter of 2025, Defense segment sales were $463.0 million, marking a decrease of 9.1%. Operating income for that segment in Q1 2025 plummeted 95.5% to just $0.6 million. This Q1 decline was largely due to the wind-down of the Joint Light Tactical Vehicle program. The segment's backlog, however, is supported by international Tactical Wheeled Vehicle sales.

• U.S. military and international defense forces.
• Q1 2025 Defense Sales: $463.0 million.
• Q1 2025 Defense Operating Income: $0.6 million.

United States Postal Service (USPS)

The USPS is a critical customer for the Transport segment via the Next Generation Delivery Vehicle (NGDV) program. The original Indefinite Delivery, Indefinite Quantity (IDIQ) contract allows for up to 165,000 vehicles over 10 years, initially valued at $482 million for engineering and tooling. The first order, placed in March 2022, was for 50,000 NGDVs valued at $2.98 Billion. The average per-unit cost for these NGDVs is about $59,600. By November 2025, only 2,500 vehicles had been delivered, reflecting repeated delays in the ramp-up. The NGDV production ramp-up partially offset the decline in other defense vehicle sales in Q1 2025.

• NGDV Contract Range: 50,000 to 165,000 vehicles.
• Initial Order Value: $2.98 Billion for 50,000 units.
• Deliveries by November 2025: 2,500 vehicles.

Equipment Rental Companies

These companies are the primary buyers in the Access segment, which encompasses JLG aerial work platforms and telehandlers. The Access segment faced headwinds, with Q2 2025 revenue declining 10.7% to $1.26 billion. For the first half of 2025 (six months ending June), Access segment revenues dropped around 16% to $2.21 billion. The order book, or backlog, for the Access segment was $1.2 billion at the end of Q2 2025, representing a 64% decrease year-over-year. JLG's Q3 2025 sales specifically were $1.11 billion, down 18.6%, due to lower North American sales volume and higher discounts.

Access Segment Metric	Value (Late 2025 Data)	Period/Context
Q2 2025 Revenue	$1.26 billion	Second Quarter 2025
H1 2025 Revenue	$2.21 billion	Six Months Ended June 2025
2025 Forecast Revenue	$4.4 billion	Full Year 2025 Estimate
Backlog	$1.2 billion	As of Q2 2025

Municipalities and Fire Departments

Purchasers of Pierce fire and emergency vehicles fall into the Vocational segment. This segment showed strength, with Q2 2025 revenue increasing 15.0% to $969.7 million. The segment's backlog remains robust at $6.3 billion, which is up 10% compared to the prior year. In Q1 2025, the Vocational segment saw improved pricing, which helped offset lower overall consolidated sales.

• Vocational Segment Q2 2025 Revenue: $969.7 million.
• Vocational Segment Backlog: $6.3 billion.

Commercial Fleets

Operators in refuse collection, concrete, and airport ground support are also key customers within the Vocational segment. In the first quarter of 2025, operating income for the Vocational segment increased by 47.1%, primarily driven by better sales of garbage and recycling trucks. The segment's Q2 2025 adjusted operating income margin reached 16.3%, up from 14.1% in the prior year. Overall, Oshkosh Corporation's total expected net sales for the full 2025 year were projected to be between $10.3 billion and $10.4 billion.

• Q1 2025 Vocational Operating Income Growth: 47.1%.
• Q2 2025 Vocational Margin: 16.3%.

Finance: draft 13-week cash view by Friday.

Oshkosh Corporation (OSK) - Canvas Business Model: Cost Structure

You're looking at the major drains on Oshkosh Corporation's cash flow for 2025, which is key to understanding their profitability, especially with ongoing production ramps and market headwinds.

The Cost of Goods Sold (COGS) remains inherently high because Oshkosh Corporation builds complex, purpose-built vehicles. This means significant outlay for raw materials, specialized components, and skilled labor across the Vocational, Access, and Transport segments. Honestly, managing that input cost pressure is a constant battle.

Here's a look at some key financial figures that frame the cost environment Oshkosh Corporation is operating in through the third quarter of 2025:

Metric	Value (Q3 2025 or FY 2025 Guidance)	Context
Consolidated Revenue (Q3 2025)	$2.7 billion	Q3 2025 Sales
Adjusted Operating Margin (Q3 2025)	10.2%	Consolidated Margin
Vocational Segment Operating Margin (Q3 2025)	15.6%	Strongest segment margin
Anticipated FY 2025 CapEx	~200 million	Raised cash flow outlook reflects lower CapEx
Long-Term Debt (Sept 30, 2025)	$1.09 billion	Up from $599.5 million at end of 2024

Capital Expenditures (CapEx) are disciplined but necessary for future capacity. For fiscal 2025, Oshkosh Corporation expected CapEx to be around $200 million. Management cited this reduction as a factor in raising the free cash flow outlook to $450 million-$550 million for the year, showing a clear focus on spending control.

Research and Development (R&D) spending is directed heavily toward future-proofing the product line. You see this investment clearly in the push for new technologies:

• Showcasing autonomous solutions for the 'Airport of the Future' at the International Airport Ground Service Equipment Expo.
• Introducing the Family of Multi-Mission Autonomous Vehicles at the AUSA Defense Conference.
• Developing zero-emission electric refuse collection vehicles, like the McNeilus Volterra ZSL, winning industry awards.

Costs associated with ramping up Next Generation Delivery Vehicle (NGDV) production are a major factor in the Transport segment. The facility in Spartanburg, South Carolina, required an estimated $155 million to retool for this production. By the third quarter of 2025, NGDV delivery revenue hit $146 million, which was about one quarter of the entire Transport segment's sales, showing the scale of the ongoing ramp. Management indicated they were ramping production throughout 2025, aiming for full production.

Tariffs and trade-related costs are definitely biting into the bottom line. Oshkosh Corporation anticipated the total cost impact from tariffs to be between $30 million and $40 million for the full year 2025. If you use the Q3 average share count of approximately 64.5 million shares, that translates to an estimated negative impact on EPS in the range of $0.47 to $0.62 per share, rather than the $\$1.00$ figure you mentioned, but it's a real, quantifiable cost headwind they are managing.

Finance: draft 13-week cash view by Friday.

Oshkosh Corporation (OSK) - Canvas Business Model: Revenue Streams

Revenue streams for Oshkosh Corporation are primarily driven by vehicle and equipment sales across its three main operating segments: Access, Vocational, and Transport. These sales represent the bulk of the top line.

The full-year 2025 net sales projection has been revised to fall between $10.3 billion and $10.4 billion. This contrasts with an earlier projection of approximately $10.6 billion. The trailing twelve months revenue, as of the quarter ending September 30, 2025, was $10.33B.

The company relies on substantial, long-term government contracts, a key component of the Transport segment's revenue stability. The Next Generation Delivery Vehicle (NGDV) contract with the U.S. Postal Service (USPS) is valued at $6 billion over 10 years, allowing for up to 165,000 units. As of September 30, 2025, orders for 51,500 vehicles were secured under this program, with the initial order being for 50,000 NGDVs valued at $2.98 Billion. Government exposure generally represented approximately 20% of 2024 net sales.

The company also generates revenue from high-margin, recurring sources, specifically aftermarket parts, service, and maintenance for its extensive installed base of equipment.

The 2025 forecast by segment, based on mid-year guidance, provides a clearer picture of the expected sales mix:

Segment	2025 Revenue Forecast	Q2 2025 Revenue
Access	Approximately $4.4 billion	$1.26 billion
Vocational	Approximately $3.8 billion	$969.7 million
Transport	Approximately $2.3 billion	$479.1 million

The Access segment, which includes aerial work platforms, experienced headwinds, with Q3 2025 revenue dropping 19% to $1.11 billion. Conversely, the Vocational segment showed strength, with Q3 2025 revenue rising 19% to $968 million. The Transport segment grew 9% to $588 million in Q3 2025, aided by the NGDV ramp-up.

The financial structure of the government business carries specific sensitivities, for instance, deferred contract costs exceeded future profits on existing USPS orders by approximately $165 million as of September 30, 2025. Furthermore, management estimated tariffs would have a direct adverse impact of $30-$40 million in 2025.

The streams are diversified across these product categories:

• Vehicle sales across Access, Vocational, and Transport segments.
• Revenue from the NGDV program, with 51,500 units ordered as of late Q3 2025.
• Sales of military vehicles and sustainment contracts.
• Recurring revenue from parts, service, and maintenance.