Oshkosh Corporation (OSK): Modelo de Negócios Canvas [Jan-2025 Atualizado]

A Oshkosh Corporation é uma potência de engenharia especializada em veículos, transformando desafios complexos de transporte em soluções inovadoras de mobilidade em defesa, resposta a emergências e setores comerciais. Com um modelo de negócios estratégico que preenche a inovação tecnológica de ponta e as parcerias do governo robustas, a empresa se posicionou como um participante crítico na fabricação de veículos de alto desempenho que atendem aos requisitos operacionais mais exigentes. De caminhões táticos de nível militar a equipamentos de acesso sofisticados, a abordagem exclusiva de Oshkosh combina engenharia avançada, design personalizado e suporte abrangente do ciclo de vida para oferecer valor incomparável aos seus diversos segmentos de clientes.

Oshkosh Corporation (OSK) - Modelo de Negócios: Principais Parcerias

Contratos de veículos militares do Departamento de Defesa

A Oshkosh Defense possui um contrato de US $ 6,7 bilhões com o Exército dos EUA para produzir veículos táticos de luz conjunta (JLTV) a partir de 2023. O contrato cobre até 54.599 veículos com produção potencial até 2064.

Tipo de contrato	Valor	Duração
Contrato do Exército da JLTV	US $ 6,7 bilhões	Até 2064

Principais fornecedores de equipamentos automotivos e de defesa

Oshkosh colabora com múltiplos fornecedores de nível 1 para componentes críticos.

• Cummins Inc. - Fornecimento do motor
• Dana Incorporated - Sistemas de eixo e de transmissão
• Allison Transmission - Sistemas de transmissão

Fornecedor	Componente	Valor estimado de oferta anual
Cummins Inc.	Motores a diesel	US $ 450 milhões
Dana Incorporated	Sistemas de eixos	US $ 280 milhões

Alianças estratégicas de tecnologia e engenharia

Oshkosh mantém parcerias com empresas de tecnologia para desenvolvimento avançado de veículos.

• NVIDIA Corporation - Tecnologias avançadas de veículos autônomos
• Panasonic Corporation - Integração do sistema elétrico e de bateria

Parcerias de agências governamentais

Oshkosh colabora com várias agências governamentais internacionais.

País	Agência	Tipo de contrato
Estados Unidos	Departamento de Defesa	Produção de veículos militares
Canadá	Serviços públicos e compras no Canadá	Contratos de veículos militares

Colaborações de instituições de pesquisa

Oshkosh faz parceria com instituições de pesquisa para tecnologias avançadas de veículos.

• Universidade Tecnológica de Michigan
• Universidade de Wisconsin-Milwaukee
• Laboratório Nacional de Oak Ridge

Instituição	Foco na pesquisa	Investimento anual
Universidade Tecnológica de Michigan	Tecnologias de veículos elétricos	US $ 2,1 milhões
Laboratório Nacional de Oak Ridge	Pesquisa avançada de materiais	US $ 3,5 milhões

Oshkosh Corporation (OSK) - Modelo de Negócios: Atividades -chave

Projetar e fabricar veículos militares e comerciais especializados

Em 2023, a Oshkosh Corporation produziu 5.969 veículos militares para o Departamento de Defesa dos EUA, com uma receita total do segmento de defesa de US $ 3,1 bilhões.

Categoria de veículo	Volume anual de produção	Contribuição da receita
JLTV (veículo tático da luz articular)	2.300 unidades	US $ 1,2 bilhão
Veículos táticos pesados	1.650 unidades	US $ 850 milhões
Veículos táticos médios	2.019 unidades	US $ 1,05 bilhão

Desenvolver veículos personalizados de defesa e resposta de emergência

Oshkosh desenvolveu 247 veículos de resposta de emergência personalizados em 2023, com uma receita total do segmento de resposta a emergências de US $ 752 milhões.

• Produção de aparelhos de incêndio: 156 unidades
• Caminhões de bombeiros aéreos: 45 unidades
• Veículos de resgate: 46 unidades

Engenharia e fabricação de equipamentos de acesso

O segmento de equipamentos de acesso gerou US $ 3,4 bilhões em receita em 2023, com a produção de 14.200 plataformas de trabalho aéreo e tele -manipuladores.

Tipo de equipamento	Produção anual	Quota de mercado
Plataformas de trabalho aéreas	9.600 unidades	22.5%
Telendlers	4.600 unidades	18.3%

Pesquisa contínua e desenvolvimento de tecnologias inovadoras de veículos

Em 2023, Oshkosh investiu US $ 247 milhões em pesquisa e desenvolvimento, representando 3,9% da receita total da empresa.

• Desenvolvimento de tecnologia de veículos elétricos
• Sistemas avançados de veículos autônomos
• Pesquisa de materiais leves

Serviços de suporte de manutenção e pós -venda

Os serviços de pós -venda geraram US $ 612 milhões em receita para 2023, com contratos de apoio cobrindo 18.500 veículos em setores militares e comerciais.

Categoria de serviço	Receita anual	Veículos suportados
Manutenção de veículos militares	US $ 392 milhões	12.300 veículos
Suporte de veículo comercial	US $ 220 milhões	6.200 veículos

Oshkosh Corporation (OSK) - Modelo de Negócios: Recursos Principais

Instalações de fabricação avançadas

Oshkosh Corporation opera várias instalações de fabricação nos Estados Unidos:

Localização	Tipo de instalação	Produção primária
Oshkosh, Wisconsin	Sede & Fábrica primária	Veículos de defesa e acesso
Appleton, Wisconsin	Instalação de fabricação	Plataformas de veículos comerciais
McGregor, Texas	Instalação de produção especializada	Componentes de veículos militares

Talento especializado em engenharia e design

Oshkosh Corporation emprega força de trabalho especializada em engenharia:

• Força de trabalho de engenharia total: 1.200 mais de engenheiros
• Graus avançados: 35% da equipe de engenharia
• Experiência média de engenharia: 12,5 anos

Portfólio de propriedade intelectual

Ativos de propriedade intelectual da Oshkosh Corporation:

Categoria IP	Número de ativos	Investimento anual de P&D
Patentes ativas	87	US $ 142 milhões (2023)
Aplicações de patentes pendentes	43	N / D

Relações governamentais e militares

Principais detalhes do contrato do governo:

• Contratos ativos do Departamento de Defesa dos EUA: 7
• Valor total do contrato do governo: US $ 3,2 bilhões
• Duração do contrato: 5-10 anos

Infraestrutura da cadeia de suprimentos

Composição da rede da cadeia de suprimentos:

Categoria de fornecedores	Número de fornecedores	Propagação geográfica
Fornecedores de Nível 1	124	América do Norte
Fornecedores de Nível 2	378	Global

Oshkosh Corporation (OSK) - Modelo de Negócios: Proposições de Valor

Veículos especializados de alto desempenho para mercados comerciais e de defesa

A Oshkosh Corporation reportou a receita do segmento de defesa de 2023 de US $ 3,74 bilhões. A empresa produz veículos militares especializados, incluindo:

Tipo de veículo	Volume anual de produção	Cliente militar -chave
JLTV (veículo tático da luz articular)	1.200 unidades por ano	Exército dos EUA
Substituição de veículo tático médio	800 unidades por ano	Departamento de Defesa dos EUA

Soluções personalizadas para necessidades complexas de transporte e equipamento

Oshkosh fornece soluções de veículos personalizados em vários setores, com receita de segmento comercial de 2023 de US $ 2,16 bilhões.

• Acesso a equipamentos de mercado de mercado: 22,3%
• Participação no mercado de veículos de incêndio e emergência: 18,7%
• Participação de mercado de caminhões misturadores de concreto: 35,4%

Inovação tecnológica de ponta no design de veículos

Investimento de P&D em 2023: US $ 137,4 milhões

Área de tecnologia	Foco na inovação	Aplicações de patentes
Veículos elétricos	Sistemas de bateria avançados	17 novas patentes
Mobilidade autônoma	Veículos militares autônomos	12 novas patentes

Produtos confiáveis ​​e duráveis ​​para desafiar ambientes operacionais

Métricas de durabilidade do produto:

• Veículo militar tempo médio entre falhas: 1.200 horas operacionais
• Veículo comercial esperado ciclo de vida: 15-20 anos
• Taxa de reclamação de garantia: menos de 2,5%

Serviços abrangentes de suporte e manutenção do ciclo de vida

2023 Receita de pós -venda e serviço: US $ 512,6 milhões

Categoria de serviço	Contratos de serviço anual	Valor médio do contrato
Manutenção de veículos militares	42 contratos ativos	US $ 23,7 milhões
Apoio à frota comercial	86 contratos ativos	US $ 5,4 milhões

Oshkosh Corporation (OSK) - Modelo de Negócios: Relacionamentos ao Cliente

Parcerias contrárias governamentais e militares de longo prazo

Oshkosh Corporation mantém US $ 3,4 bilhões em contratos ativos de veículos militares dos EUA A partir de 2023. As principais parcerias incluem:

Tipo de contrato	Valor anual	Duração
FMTV (família de veículos táticos médios)	US $ 1,2 bilhão	Contrato de 10 anos
HEMTT (caminhão tático de mobilidade expandida pesada)	US $ 850 milhões	Contrato de 8 anos
JLTV (veículo tático da luz articular)	US $ 1,4 bilhão	Em andamento

Serviços de suporte técnico e consulta

Oshkosh fornece suporte técnico abrangente com 247 pessoal de apoio dedicado. As métricas de suporte incluem:

• Tempo médio de resposta: 2,3 horas
• 24/7 de assistência técnica global
• Equipes especializadas de consulta de engenharia

Abordagem personalizada de desenvolvimento de produtos

Em 2023, Oshkosh investiu US $ 184 milhões em P&D, focando em soluções personalizadas nos mercados de defesa e comerciais.

Segmento de mercado	Soluções personalizadas desenvolvidas	Taxa de implementação
Militares	17 configurações de veículos especializados	92% de aceitação do cliente
Comercial	12 designs de chassi especializados	88% de adoção do cliente

Gerenciamento de conta dedicado para grandes clientes

Oshkosh gerencia 42 Contas estratégicas corporativas e governamentais com equipes especializadas.

• Valor médio da conta: US $ 76 milhões
• Taxa de retenção: 94%
• Gerentes de conta dedicados por cliente

Programas de manutenção e atualização contínuos

Contratos de manutenção gerados US $ 512 milhões em receita recorrente durante 2023.

Categoria de serviço	Receita anual	Cobertura de serviço
Manutenção de veículos militares	US $ 287 milhões	Apoio global da frota
Atualizações de veículos comerciais	US $ 225 milhões	Programas de modernização abrangente

Oshkosh Corporation (OSK) - Modelo de Negócios: Canais

Equipe de vendas diretas para mercados governamentais e comerciais

A Oshkosh Corporation mantém uma força de vendas dedicada direcionada aos mercados governamentais e comerciais com 2023 receita direta de vendas de US $ 8,3 bilhões. A equipe de vendas abrange vários segmentos, incluindo:

• Segmento de defesa: US $ 3,1 bilhões em vendas diretas
• Fogo & Segmento de emergência: US $ 1,2 bilhão em vendas diretas
• Segmento comercial: US $ 3,0 bilhões em vendas diretas

Segmento de mercado	Tamanho direto da equipe de vendas	Cobertura anual de vendas
Mercados governamentais	127 representantes de vendas	US $ 5,4 bilhões
Mercados comerciais	89 representantes de vendas	US $ 2,9 bilhões

Catálogos e configurações de produtos on -line

Métricas de engajamento da plataforma digital para 2023:

• Visitantes do site: 1,2 milhão
• Uso do Configurador de Produtos Online: 42.000 sessões únicas
• Downloads de catálogo digital: 87.000

Feiras e conferências do setor

Tipo de evento	Participação anual	Geração de chumbo
Conferências da indústria de defesa	7 grandes eventos	423 leads qualificados
Shows de veículos comerciais	12 Exposições Internacionais	612 leads qualificados

Redes de revendedores autorizados

Distribuição da rede de revendedores a partir de 2023:

• Total de revendedores autorizados: 218
• Cobertura geográfica: 47 estados
• Presença internacional de revendedores: 12 países

Plataformas de marketing digital e comunicação técnica

Canal digital	Engajamento mensal	Alcance anual
LinkedIn	92.000 seguidores	1,4 milhão de impressões
Webinars técnicos	6 sessões mensais	14.400 participantes registrados

Oshkosh Corporation (OSK) - Modelo de Negócios: Segmentos de Clientes

Departamento de Defesa dos Estados Unidos

A partir de 2023, a defesa de Oshkosh garantiu um contrato de US $ 911,1 milhões para veículos táticos da luz conjunta (JLTV) com os militares dos EUA. A empresa entregou mais de 12.000 unidades JLTV ao Exército e do Corpo de Fuzileiros Navais dos EUA.

Valor do contrato	Veículos entregues	Ramos militares
US $ 911,1 milhões	12.000 mais de JLTV	Exército dos EUA, Corpo de Fuzileiros Navais

Organizações Militares Internacionais

Oshkosh atende a vários clientes de defesa internacional em 13 países, com contratos significativos em regiões, incluindo aliados da OTAN e nações do Oriente Médio.

• Volume do contrato de países da OTAN: US $ 425,6 milhões em 2023
• Contratos de defesa do Oriente Médio: US $ 276,3 milhões em 2023
• Ordens internacionais de veículos militares: 4.500 veículos especializados

Departamentos de resposta a emergências e veículos municipais

Oshkosh produz veículos de incêndio e resgate para departamentos municipais em todo o país.

Tipo de veículo	Produção anual	Quota de mercado
Caminhões de bombeiros	1.200 unidades	47% do mercado dos EUA
Plataformas aéreas	350 unidades	52% do mercado dos EUA

Usuários de construção e equipamentos industriais

Oshkosh fabrica misturadores de concreto e veículos de construção especializados.

• Vendas de caminhões de misturador de concreto: 2.750 unidades em 2023
• Receita total de veículos de construção: US $ 1,2 bilhão
• Penetração de mercado no setor de construção norte -americano: 38%

Operadores de frota de veículos comerciais e especializados

Oshkosh fornece soluções especializadas de veículos comerciais em vários setores.

Segmento da indústria	Tipos de veículos	Receita anual
Gerenciamento de resíduos	Veículos de coleta de lixo	US $ 375,6 milhões
Logística	Caminhões comerciais	US $ 512,4 milhões
Serviços aeroportuários	Equipamento especializado em apoio ao solo	US $ 224,7 milhões

Oshkosh Corporation (OSK) - Modelo de Negócios: Estrutura de Custo

Altas despesas de pesquisa e desenvolvimento

No ano fiscal de 2023, a Oshkosh Corporation investiu US $ 170,3 milhões em despesas de pesquisa e desenvolvimento, representando 2,8% da receita total da empresa.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2023	US $ 170,3 milhões	2.8%
2022	US $ 156,7 milhões	2.6%

Infraestrutura de fabricação complexa

Oshkosh opera várias instalações de fabricação nos Estados Unidos, com despesas totais de capital de US $ 232,4 milhões em 2023.

• Locais de fabricação primária: Wisconsin, Pensilvânia, Carolina do Sul
• Faculdade de fabricação Total Mágua quadrada: aproximadamente 5,2 milhões de pés quadrados.
• Custos indiretos anuais de fabricação: US $ 412,6 milhões

Custos significativos de talentos trabalhistas e de engenharia

As despesas totais de pessoal da Oshkosh Corporation em 2023 foram de US $ 1,2 bilhão, com uma compensação média dos funcionários de US $ 95.000 por ano.

Categoria de funcionários	Número de funcionários	Compensação média
Engenharia	1,850	$125,000
Fabricação	7,200	$82,000

Cadeia de suprimentos e compras de matéria -prima

Os custos anuais de aquisição de matéria -prima para a Oshkosh Corporation totalizaram US $ 1,6 bilhão em 2023, com aço e alumínio representando 45% do total de despesas de materiais.

• Compras de aço: US $ 432 milhões
• Compras de alumínio: US $ 288 milhões
• Outras matérias -primas: US $ 880 milhões

Investimento de conformidade e certificação

As despesas de conformidade e certificação da Oshkosh Corporation atingiram US $ 47,2 milhões em 2023, cobrindo os requisitos regulatórios de defesa, aeroespacial e veículos comerciais.

Categoria de conformidade	Despesas
Conformidade com defesa	US $ 22,6 milhões
Certificações de veículos comerciais	US $ 15,4 milhões
Conformidade regulatória de segurança	US $ 9,2 milhões

Oshkosh Corporation (OSK) - Modelo de Negócios: Fluxos de Receita

Receita de contrato de veículo militar

No ano fiscal de 2023, o segmento de defesa de Oshkosh gerou US $ 2,78 bilhões em receita. Os principais contratos incluem:

Contrato	Valor	Duração
JLTV (veículo tático da luz articular)	US $ 1,2 bilhão	2023-2024
Família de veículos táticos médios	US $ 680 milhões	2023-2024

Vendas de veículos comerciais

A receita do segmento comercial para o ano fiscal de 2023 foi de US $ 1,97 bilhão.

• Vendas de aparelhos de incêndio Pierce: US $ 642 milhões
• Vendas de caminhões de misturador de concreto: US $ 512 milhões
• Vendas de equipamentos de acesso: US $ 816 milhões

Peças de reposição e contratos de serviço

A receita de pós -venda em 2023 totalizou US $ 453 milhões.

Categoria de serviço	Receita
Peças de veículos militares	US $ 213 milhões
Manutenção de veículos comerciais	US $ 240 milhões

Serviços de locação e aluguel de equipamentos

Receita de aluguel de equipamentos para 2023: US $ 287 milhões.

• Aluguel de equipamentos militares: US $ 112 milhões
• Aluguel de equipamentos comerciais: US $ 175 milhões

Taxas de licenciamento e consultoria de tecnologia

Receita de licenciamento de tecnologia em 2023: US $ 42 milhões.

Categoria de licenciamento	Receita
Licenciamento de tecnologia de defesa	US $ 24 milhões
Licenciamento de tecnologia de veículos comerciais	US $ 18 milhões

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.