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Side-by-side financial comparison of NIO Inc. (NIO) and OSHKOSH CORP (OSK). Click either name above to swap in a different company.
NIO Inc. is the larger business by last-quarter revenue ($4.7B vs $2.7B, roughly 1.8× OSHKOSH CORP). OSHKOSH CORP runs the higher net margin — 5.0% vs 0.8%, a 4.2% gap on every dollar of revenue. OSHKOSH CORP produced more free cash flow last quarter ($540.3M vs $-439.4M).
Nio Inc. is a Chinese electric vehicle manufacturer headquartered in Shanghai. Founded in 2014, it adopted its current name in 2016. The company designs and sells electric vehicles, including sedans and SUVs, and has expanded into smartphone development.
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.
NIO vs OSK — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $2.7B |
| Net Profit | $38.7M | $133.8M |
| Gross Margin | 17.5% | 15.8% |
| Operating Margin | 1.5% | 7.9% |
| Net Margin | 0.8% | 5.0% |
| Revenue YoY | — | 3.5% |
| Net Profit YoY | — | -12.6% |
| EPS (diluted) | $0.05 | — |
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.
| Q1 26 | $4.7B | — | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | $3.0B | $2.7B | ||
| Q2 25 | $2.6B | $2.7B | ||
| Q1 25 | $2.7B | $2.3B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B |
| Q1 26 | $38.7M | — | ||
| Q4 25 | — | $133.8M | ||
| Q3 25 | $-505.2M | $196.2M | ||
| Q2 25 | $-709.5M | $204.8M | ||
| Q1 25 | $-984.2M | $112.2M | ||
| Q4 24 | — | $153.1M | ||
| Q3 24 | — | $180.3M | ||
| Q2 24 | — | $168.6M |
| Q1 26 | 17.5% | — | ||
| Q4 25 | — | 15.8% | ||
| Q3 25 | 13.9% | 17.5% | ||
| Q2 25 | 10.0% | 19.2% | ||
| Q1 25 | 11.7% | 17.3% | ||
| Q4 24 | — | 17.2% | ||
| Q3 24 | — | 18.5% | ||
| Q2 24 | — | 19.2% |
| Q1 26 | 1.5% | — | ||
| Q4 25 | — | 7.9% | ||
| Q3 25 | -16.2% | 9.7% | ||
| Q2 25 | -25.8% | 10.7% | ||
| Q1 25 | -30.6% | 7.6% | ||
| Q4 24 | — | 8.6% | ||
| Q3 24 | — | 9.7% | ||
| Q2 24 | — | 9.2% |
| Q1 26 | 0.8% | — | ||
| Q4 25 | — | 5.0% | ||
| Q3 25 | -16.8% | 7.3% | ||
| Q2 25 | -27.0% | 7.5% | ||
| Q1 25 | -36.2% | 4.9% | ||
| Q4 24 | — | 5.9% | ||
| Q3 24 | — | 6.6% | ||
| Q2 24 | — | 5.9% |
| Q1 26 | $0.05 | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $-1.51 | — | ||
| Q2 25 | $-2.31 | — | ||
| Q1 25 | $-3.47 | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.4B | $479.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $594.8M | $4.5B |
| Total Assets | $17.8B | $10.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $4.4B | — | ||
| Q4 25 | — | $479.8M | ||
| Q3 25 | — | $211.8M | ||
| Q2 25 | $2.5B | $191.7M | ||
| Q1 25 | $4.6B | $210.3M | ||
| Q4 24 | — | $204.9M | ||
| Q3 24 | — | $160.9M | ||
| Q2 24 | — | $141.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $602.3M | ||
| Q2 24 | — | $599.1M |
| Q1 26 | $594.8M | — | ||
| Q4 25 | — | $4.5B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | $-168.3M | $4.5B | ||
| Q1 25 | $817.5M | $4.2B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $3.9B |
| Q1 26 | $17.8B | — | ||
| Q4 25 | — | $10.1B | ||
| Q3 25 | — | $9.8B | ||
| Q2 25 | $14.0B | $10.0B | ||
| Q1 25 | $14.7B | $9.8B | ||
| Q4 24 | — | $9.4B | ||
| Q3 24 | — | $9.9B | ||
| Q2 24 | — | $9.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.15× |
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 | $427.9M | $600.1M |
| Free Cash FlowOCF − Capex | $-439.4M | $540.3M |
| FCF MarginFCF / Revenue | -9.3% | 20.1% |
| Capex IntensityCapex / Revenue | 18.4% | 2.2% |
| Cash ConversionOCF / Net Profit | 11.07× | 4.49× |
| TTM Free Cash FlowTrailing 4 quarters | — | $618.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $427.9M | — | ||
| Q4 25 | — | $600.1M | ||
| Q3 25 | — | $489.0M | ||
| Q2 25 | — | $89.2M | ||
| Q1 25 | $-1.1B | $-394.9M | ||
| Q4 24 | — | $790.8M | ||
| Q3 24 | — | $326.1M | ||
| Q2 24 | — | $-211.0M |
| Q1 26 | $-439.4M | — | ||
| Q4 25 | — | $540.3M | ||
| Q3 25 | — | $464.3M | ||
| Q2 25 | — | $48.6M | ||
| Q1 25 | $-2.3B | $-435.2M | ||
| Q4 24 | — | $703.3M | ||
| Q3 24 | — | $272.2M | ||
| Q2 24 | — | $-250.5M |
| Q1 26 | -9.3% | — | ||
| Q4 25 | — | 20.1% | ||
| Q3 25 | — | 17.3% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | -85.6% | -18.8% | ||
| Q4 24 | — | 27.1% | ||
| Q3 24 | — | 9.9% | ||
| Q2 24 | — | -8.8% |
| Q1 26 | 18.4% | — | ||
| Q4 25 | — | 2.2% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | 46.1% | 1.7% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 1.4% |
| Q1 26 | 11.07× | — | ||
| Q4 25 | — | 4.49× | ||
| Q3 25 | — | 2.49× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | -3.52× | ||
| Q4 24 | — | 5.17× | ||
| Q3 24 | — | 1.81× | ||
| Q2 24 | — | -1.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NIO
Segment breakdown not available.
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% |
