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Side-by-side financial comparison of Howmet Aerospace (HWM) and OSHKOSH CORP (OSK). Click either name above to swap in a different company.
OSHKOSH CORP is the larger business by last-quarter revenue ($2.7B vs $2.2B, roughly 1.2× Howmet Aerospace). Howmet Aerospace runs the higher net margin — 17.2% vs 5.0%, a 12.2% gap on every dollar of revenue. On growth, Howmet Aerospace posted the faster year-over-year revenue change (14.6% vs 3.5%). OSHKOSH CORP produced more free cash flow last quarter ($540.3M vs $530.0M). Over the past eight quarters, Howmet Aerospace's revenue compounded faster (9.0% CAGR vs 2.8%).
Howmet Aerospace Inc. is an American aerospace company based in Pittsburgh, Pennsylvania. The company manufactures components for jet engines, fasteners, titanium structures for aerospace applications, and forged aluminum wheels for heavy trucks.
OSHKOSH CORPOSKEarnings & Financial Report
Oshkosh Corporation, formerly Oshkosh Truck, is an American industrial company that designs and builds specialty trucks, military vehicles, truck bodies, airport fire apparatus, and access equipment. The corporation also owns Pierce Manufacturing, a fire apparatus manufacturer in Appleton, Wisconsin, and JLG Industries, a manufacturer of lift equipment, including aerial lifts, boom lifts, scissor lifts, telehandlers and low-level access lifts.
HWM vs OSK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.2B | $2.7B |
| Net Profit | $372.0M | $133.8M |
| Gross Margin | — | 15.8% |
| Operating Margin | 22.6% | 7.9% |
| Net Margin | 17.2% | 5.0% |
| Revenue YoY | 14.6% | 3.5% |
| Net Profit YoY | 18.5% | -12.6% |
| EPS (diluted) | $0.92 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.2B | $2.7B | ||
| Q3 25 | $2.1B | $2.7B | ||
| Q2 25 | $2.1B | $2.7B | ||
| Q1 25 | $1.9B | $2.3B | ||
| Q4 24 | $1.9B | $2.6B | ||
| Q3 24 | $1.8B | $2.7B | ||
| Q2 24 | $1.9B | $2.8B | ||
| Q1 24 | $1.8B | $2.5B |
| Q4 25 | $372.0M | $133.8M | ||
| Q3 25 | $385.0M | $196.2M | ||
| Q2 25 | $407.0M | $204.8M | ||
| Q1 25 | $344.0M | $112.2M | ||
| Q4 24 | $314.0M | $153.1M | ||
| Q3 24 | $332.0M | $180.3M | ||
| Q2 24 | $266.0M | $168.6M | ||
| Q1 24 | $243.0M | $179.4M |
| Q4 25 | — | 15.8% | ||
| Q3 25 | — | 17.5% | ||
| Q2 25 | — | 19.2% | ||
| Q1 25 | — | 17.3% | ||
| Q4 24 | — | 17.2% | ||
| Q3 24 | — | 18.5% | ||
| Q2 24 | — | 19.2% | ||
| Q1 24 | — | 18.5% |
| Q4 25 | 22.6% | 7.9% | ||
| Q3 25 | 25.9% | 9.7% | ||
| Q2 25 | 25.4% | 10.7% | ||
| Q1 25 | 25.4% | 7.6% | ||
| Q4 24 | 23.5% | 8.6% | ||
| Q3 24 | 22.9% | 9.7% | ||
| Q2 24 | 21.2% | 9.2% | ||
| Q1 24 | 20.2% | 10.2% |
| Q4 25 | 17.2% | 5.0% | ||
| Q3 25 | 18.4% | 7.3% | ||
| Q2 25 | 19.8% | 7.5% | ||
| Q1 25 | 17.7% | 4.9% | ||
| Q4 24 | 16.6% | 5.9% | ||
| Q3 24 | 18.1% | 6.6% | ||
| Q2 24 | 14.1% | 5.9% | ||
| Q1 24 | 13.3% | 7.1% |
| Q4 25 | $0.92 | — | ||
| Q3 25 | $0.95 | — | ||
| Q2 25 | $1.00 | — | ||
| Q1 25 | $0.84 | — | ||
| Q4 24 | $0.76 | — | ||
| Q3 24 | $0.81 | — | ||
| Q2 24 | $0.65 | — | ||
| Q1 24 | $0.59 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $742.0M | $479.8M |
| Total DebtLower is stronger | $3.0B | — |
| Stockholders' EquityBook value | $5.4B | $4.5B |
| Total Assets | $11.2B | $10.1B |
| Debt / EquityLower = less leverage | 0.57× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $742.0M | $479.8M | ||
| Q3 25 | $659.0M | $211.8M | ||
| Q2 25 | $545.0M | $191.7M | ||
| Q1 25 | $536.0M | $210.3M | ||
| Q4 24 | $564.0M | $204.9M | ||
| Q3 24 | $475.0M | $160.9M | ||
| Q2 24 | $752.0M | $141.4M | ||
| Q1 24 | $533.0M | $69.9M |
| Q4 25 | $3.0B | — | ||
| Q3 25 | $3.2B | — | ||
| Q2 25 | $3.3B | — | ||
| Q1 25 | $3.3B | — | ||
| Q4 24 | $3.3B | — | ||
| Q3 24 | $3.4B | $602.3M | ||
| Q2 24 | $3.7B | $599.1M | ||
| Q1 24 | $3.7B | $598.9M |
| Q4 25 | $5.4B | $4.5B | ||
| Q3 25 | $5.1B | $4.5B | ||
| Q2 25 | $5.0B | $4.5B | ||
| Q1 25 | $4.8B | $4.2B | ||
| Q4 24 | $4.6B | $4.2B | ||
| Q3 24 | $4.5B | $4.1B | ||
| Q2 24 | $4.3B | $3.9B | ||
| Q1 24 | $4.1B | $3.8B |
| Q4 25 | $11.2B | $10.1B | ||
| Q3 25 | $11.2B | $9.8B | ||
| Q2 25 | $11.0B | $10.0B | ||
| Q1 25 | $10.8B | $9.8B | ||
| Q4 24 | $10.5B | $9.4B | ||
| Q3 24 | $10.6B | $9.9B | ||
| Q2 24 | $10.7B | $9.7B | ||
| Q1 24 | $10.4B | $9.5B |
| Q4 25 | 0.57× | — | ||
| Q3 25 | 0.62× | — | ||
| Q2 25 | 0.65× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.75× | 0.15× | ||
| Q2 24 | 0.86× | 0.15× | ||
| Q1 24 | 0.90× | 0.16× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $654.0M | $600.1M |
| Free Cash FlowOCF − Capex | $530.0M | $540.3M |
| FCF MarginFCF / Revenue | 24.4% | 20.1% |
| Capex IntensityCapex / Revenue | 5.7% | 2.2% |
| Cash ConversionOCF / Net Profit | 1.76× | 4.49× |
| TTM Free Cash FlowTrailing 4 quarters | $1.4B | $618.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $654.0M | $600.1M | ||
| Q3 25 | $531.0M | $489.0M | ||
| Q2 25 | $446.0M | $89.2M | ||
| Q1 25 | $253.0M | $-394.9M | ||
| Q4 24 | $480.0M | $790.8M | ||
| Q3 24 | $244.0M | $326.1M | ||
| Q2 24 | $397.0M | $-211.0M | ||
| Q1 24 | $177.0M | $-355.8M |
| Q4 25 | $530.0M | $540.3M | ||
| Q3 25 | $423.0M | $464.3M | ||
| Q2 25 | $344.0M | $48.6M | ||
| Q1 25 | $134.0M | $-435.2M | ||
| Q4 24 | $378.0M | $703.3M | ||
| Q3 24 | $162.0M | $272.2M | ||
| Q2 24 | $342.0M | $-250.5M | ||
| Q1 24 | $95.0M | $-455.9M |
| Q4 25 | 24.4% | 20.1% | ||
| Q3 25 | 20.2% | 17.3% | ||
| Q2 25 | 16.8% | 1.8% | ||
| Q1 25 | 6.9% | -18.8% | ||
| Q4 24 | 20.0% | 27.1% | ||
| Q3 24 | 8.8% | 9.9% | ||
| Q2 24 | 18.2% | -8.8% | ||
| Q1 24 | 5.2% | -17.9% |
| Q4 25 | 5.7% | 2.2% | ||
| Q3 25 | 5.2% | 0.9% | ||
| Q2 25 | 5.0% | 1.5% | ||
| Q1 25 | 6.1% | 1.7% | ||
| Q4 24 | 5.4% | 3.4% | ||
| Q3 24 | 4.5% | 2.0% | ||
| Q2 24 | 2.9% | 1.4% | ||
| Q1 24 | 4.5% | 3.9% |
| Q4 25 | 1.76× | 4.49× | ||
| Q3 25 | 1.38× | 2.49× | ||
| Q2 25 | 1.10× | 0.44× | ||
| Q1 25 | 0.74× | -3.52× | ||
| Q4 24 | 1.53× | 5.17× | ||
| Q3 24 | 0.73× | 1.81× | ||
| Q2 24 | 1.49× | -1.25× | ||
| Q1 24 | 0.73× | -1.98× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HWM
| Engine Products Segment | $1.2B | 54% |
| Fastening Systems | $454.0M | 21% |
| Forged Wheels | $264.0M | 12% |
| Aerospace Defense | $236.0M | 11% |
| Commercial Transportation | $46.0M | 2% |
OSK
| Vocational Segment | $922.4M | 34% |
| Aerial Works Platforms | $548.6M | 20% |
| Other Access Equipment | $311.8M | 12% |
| Telehandlers | $311.2M | 12% |
| Airport Products | $252.7M | 9% |
| Delivery Vehicles | $165.0M | 6% |
| Other Vocational | $130.7M | 5% |
| Transferred Over Time | $23.5M | 1% |
