Is Oshkosh Corp. overvalued or undervalued?

As of 4 September 2025, the valuation grade for Oshkosh Corp. has moved from attractive to very expensive, indicating a shift towards overvaluation. The company is considered overvalued based on its P/E ratio of 12, which is lower than its peer Harley-Davidson, Inc. at 18.01, and its EV to EBITDA of 7.71, which is also below the industry average. Additionally, the Price to Book Value stands at 1.85, suggesting that the market is pricing the stock at a premium compared to its book value.
In comparison to its peers, Oshkosh Corp. has a lower P/E ratio than Harley-Davidson, while VinFast Auto Ltd. and Lucid Group, Inc. are both classified as risky with negative valuations. Despite a strong year-to-date return of 43.34% compared to the S&P 500's 12.22%, the stock's performance over longer periods shows a decline relative to the index, particularly over the 5-year horizon where it returned 75.61% versus the S&P's 96.61%. This suggests that while the company has performed well recently, its current valuation may not be justified given the broader market trends.