Report
Valens Research

OSK - Embedded Expectations Analysis - 2018 01 26

 Oshkosh Corporation (OSK:USA) currently trades at historical highs relative to
UAFRS-based (Uniform) Earnings, with a 20.0x Uniform P/E, implying bullish expectations for the firm. Moreover, management is confident in their restructuring efforts, margins, and forecasts

 Specifically, management is confident that they are taking the right efforts to restructure their Commercial segment, particularly by attacking complexity related to both order management and execution, and that these simplification initiatives will lead to meaningful margin improvement in the segment compared to 2017. Additionally, they are confident that they reached a significant milestone recently related to opportunities in vehicles and sustainment, and in their capital expenditure estimates for 2018
Underlying
OSHKOSH CORP

Oshkosh is a designer, manufacturer and marketer of access equipment, specialty vehicles and truck bodies for the primary markets of access equipment, defense, fire and emergency and municipal, refuse hauling, concrete placement as well as airport services. The company's segments are: access equipment, which designs and manufactures aerial work platforms and telehandlers; defense, which designs and manufactures tactical wheeled vehicles and related service; fire and emergency, which designs and manufactures fire apparatus assembled on custom chassis; and commercial, which designs and manufactures front- and rear-discharge concrete mixers and portable and stationary concrete batch plants.

Provider
Valens Research
Valens Research

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Valens Research

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