OSK
Oshkosh Corporation
Is OSK Halal?
Specialty-vehicle and access-equipment maker — current known asset-based financial ratios pass, while defense and end-use classification remains incomplete.
What You Should Know
Oshkosh Corporation designs and manufactures specialty vehicles and equipment — aerial work platforms and telehandlers (JLG), fire and emergency apparatus, refuse and airport products, defense tactical vehicles, and delivery vehicles. Its March 31, 2026 Form 10-Q reports assets of $9,961.1 million, interest-bearing debt of $1,146.8 million, cash of $250.3 million and receivables plus unbilled receivables of $2,201.4 million. Debt/assets is 11.51%, liquidity/assets is 2.51%, receivables-plus-cash/assets is 24.61%, and disclosed interest income is 0.19% of quarterly sales; known asset-based financial ratios pass, but defense, government and customer end-use activity remains qualitative.
⚠️ Concerns
- •Known financial ratios pass the examined asset-based limits
- •Defense and government vehicle programs require scholar-specific end-use review
- •Long-cycle contracts and customer advances affect working-capital analysis
- •Interest income is disclosed but no scholar-approved purification percentage is prescribed
- •Cyclical with construction, municipal, and defense budgets — re-screen after the next filing
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
1,146.8 / 9,961.1
250.3 / 9,961.1
2,451.7 / 9,961.1
4.5 / 2,317.8
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 11.51%, liquidity/assets is 2.51%, receivables plus cash/assets is 24.61%, and disclosed interest income is 0.19%; known financial ratios pass, while business classification remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt, liquidity and receivables-plus-cash are below the examined MSCI total-assets limits; this is not an index-membership claim and activity revenue remains undisclosed.
- Financial
- Pass
- Overall
- Incomplete
Debt and identifiable liquidity are below 33% of total assets; this is a calculation against SAC ratios, not an official classification, and activity revenue remains unavailable.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical issuer market-cap series is not stored, so market-cap methods are not estimated from a current spot price.
Business-activity disclosure
Oshkosh designs and manufactures access equipment, vocational vehicles, fire and emergency apparatus, refuse and airport products, defense vehicles and delivery vehicles. Specialty-vehicle manufacturing is generally permissible, while defense, government contracts, end uses and product-specific activity require continuing qualitative review.
Limitation: The filing does not allocate revenue into a universal prohibited-activity numerator for defense, government, customer end use, contracts or incidental financial income.
Purification
Oshkosh discloses $4.5 million of interest income, or 0.19% of quarterly sales, but does not prescribe a scholar-approved purification percentage and does not quantify all potentially screened activity revenue.
Inputs, assumptions and primary sources
- Amounts are USD millions from Oshkosh's March 31, 2026 Form 10-Q.
- Debt combines $546.2 million of revolving facilities and current maturities with $600.6 million of long-term debt; operating leases are excluded.
- Cash and cash equivalents are $250.3 million; no separate interest-bearing securities balance is identified.
- Receivables use $1,503.2 million of receivables plus $698.2 million of unbilled receivables. First-quarter net sales are $2,317.8 million.
- Disclosed interest income is $4.5 million; the filing does not provide a universal prohibited-activity revenue numerator.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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