OSK vs. CAT

Last updated Jun 4, 2026

OSK (Oshkosh Corporation) and CAT (Caterpillar Inc.) are both stocks. Both operate in the Farm & Heavy Construction Machinery industry within the Industrials sector. Over the past 10 years, OSK returned 12.97%/yr vs 31.52%/yr for CAT. At a 0.40 correlation, their price movements are largely independent.

Performance

OSK vs. CAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oshkosh Corporation (OSK) and Caterpillar Inc. (CAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OSK achieves a 7.54% return, which is significantly lower than CAT's 62.36% return. Over the past 10 years, OSK has underperformed CAT with an annualized return of 12.97%, while CAT has yielded a comparatively higher 31.52% annualized return.

OSK

• 1D: 1.70%
• 1M: -10.16%
• YTD: 7.54%
• 6M: 5.42%
• 1Y: 33.05%
• 3Y*: 19.90%
• 5Y*: 2.07%
• 10Y*: 12.97%

CAT

• 1D: 1.80%
• 1M: 5.88%
• YTD: 62.36%
• 6M: 57.25%
• 1Y: 167.95%
• 3Y*: 62.31%
• 5Y*: 32.93%
• 10Y*: 31.52%

*Multi-year figures are annualized to reflect compound growth (CAGR)

OSK vs. CAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OSK Oshkosh Corporation	7.54%	34.49%	-10.83%	25.23%	-20.49%	32.52%	-7.53%	56.59%	-31.62%	42.35%
CAT Caterpillar Inc.	62.36%	60.30%	24.66%	25.95%	18.60%	15.95%	26.97%	19.51%	-17.56%	75.03%

Correlation

The correlation between OSK and CAT is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Mar 27, 1990	0.40

Over the past year, OSK and CAT have become more correlated (0.62) than their long-term average of 0.40, meaning their price movements have been converging.

Fundamentals

Market Cap OSK : $63.93B CAT : $431.41B
EPS OSK : $2.08 CAT : $20.07
PE Ratio OSK : 64.54 CAT : 46.14
PEG Ratio OSK : 1.35 CAT : 3.05
PS Ratio OSK : 3.58 CAT : 6.14
PB Ratio OSK : 6.42 CAT : 23.12
Total Revenue (TTM) OSK : $10.43B CAT : $70.76B
Gross Profit (TTM) OSK : $1.42B CAT : $23.01B
EBITDA (TTM) OSK : $1.04B CAT : $15.31B

Return for Risk

OSK vs. CAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OSK

OSK Risk / Return Rank: 63
OSK Sharpe Ratio Rank: 67
OSK Sortino Ratio Rank: 63
OSK Omega Ratio Rank: 61
OSK Calmar Ratio Rank: 61
OSK Martin Ratio Rank: 64

CAT

CAT Risk / Return Rank: 98
CAT Sharpe Ratio Rank: 98
CAT Sortino Ratio Rank: 98
CAT Omega Ratio Rank: 97
CAT Calmar Ratio Rank: 98
CAT Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OSK vs. CAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oshkosh Corporation (OSK) and Caterpillar Inc. (CAT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	OSK	CAT	Difference
Sharpe ratio Return per unit of total volatility	0.86	4.98	-4.12
Sortino ratio Return per unit of downside risk	1.42	5.68	-4.25
Omega ratio Gain probability vs. loss probability	1.18	1.72	-0.54
Calmar ratio Return relative to maximum drawdown	1.00	12.18	-11.17
Martin ratio Return relative to average drawdown	2.82	40.49	-37.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OSK vs. CAT - Sharpe Ratio Comparison

The current OSK Sharpe Ratio is 0.86, which is lower than the CAT Sharpe Ratio of 4.98. The chart below compares the historical Sharpe Ratios of OSK and CAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OSK	CAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	4.98	-4.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	1.08	-1.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	1.02	-0.66
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.35	-0.02

Drawdowns

OSK vs. CAT - Drawdown Comparison

The maximum OSK drawdown since its inception was -93.84%, which is greater than CAT's maximum drawdown of -73.43%. Use the drawdown chart below to compare losses from any high point for OSK and CAT.

Drawdown Indicators

	OSK	CAT	Difference
Max Drawdown Largest peak-to-trough decline	-93.84%	-73.43%	-20.41%
Max Drawdown (1Y) Largest decline over 1 year	-33.06%	-13.88%	-19.18%
Max Drawdown (3Y) Largest decline over 3 years	-36.66%	-34.05%	-2.61%
Max Drawdown (5Y) Largest decline over 5 years	-45.57%	-34.05%	-11.52%
Max Drawdown (10Y) Largest decline over 10 years	-48.68%	-43.36%	-5.32%
Current Drawdown Current decline from peak	-24.33%	-0.08%	-24.25%
Average Drawdown Average peak-to-trough decline	-23.21%	-19.74%	-3.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.75%	4.17%	+7.58%

Volatility

OSK vs. CAT - Volatility Comparison

Oshkosh Corporation (OSK) has a higher volatility of 16.08% compared to Caterpillar Inc. (CAT) at 11.17%. This indicates that OSK's price experiences larger fluctuations and is considered to be riskier than CAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OSK	CAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.08%	11.17%	+4.91%
Volatility (6M) Calculated over the trailing 6-month period	31.08%	27.09%	+3.99%
Volatility (1Y) Calculated over the trailing 1-year period	38.87%	33.97%	+4.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.26%	30.62%	+3.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.28%	30.86%	+4.42%

Dividends

OSK vs. CAT - Dividend Comparison

OSK's dividend yield for the trailing twelve months is around 1.61%, more than CAT's 0.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAT Caterpillar Inc.	0.65%	1.02%	1.49%	1.69%	1.93%	2.07%	2.26%	2.56%	2.58%	1.97%	3.32%	4.33%
OSK Oshkosh Corporation	1.61%	1.62%	1.94%	1.51%	1.68%	1.21%	1.43%	1.17%	1.61%	0.96%	1.21%	1.74%

Financials

OSK vs. CAT - Profitability Comparison

The chart below illustrates the profitability comparison between Oshkosh Corporation and Caterpillar Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

OSK - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Oshkosh Corporation reported a gross profit of 0.00 and revenue of 2.32B. Therefore, the gross margin over that period was 0.0%.

CAT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Caterpillar Inc. reported a gross profit of 6.11B and revenue of 17.42B. Therefore, the gross margin over that period was 35.1%.

OSK - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Oshkosh Corporation reported an operating income of 82.00M and revenue of 2.32B, resulting in an operating margin of 3.5%.

CAT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Caterpillar Inc. reported an operating income of 3.09B and revenue of 17.42B, resulting in an operating margin of 17.7%.

OSK - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Oshkosh Corporation reported a net income of 43.10M and revenue of 2.32B, resulting in a net margin of 1.9%.

CAT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Caterpillar Inc. reported a net income of 2.55B and revenue of 17.42B, resulting in a net margin of 14.6%.

Frequently Asked Questions

Can I hold both OSK and CAT in my portfolio?

OSK and CAT have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OSK or CAT?

OSK has higher volatility (16.08%) compared to CAT (11.17%). In terms of maximum drawdown, OSK dropped -93.84% vs CAT's -73.43%.

Which has better risk-adjusted returns?

CAT currently has the higher Sharpe Ratio (4.98 vs 0.86), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.