CVGI vs CMI vs OSK Stock Comparison

Commercial Vehicle, Cummins and Oshkosh Prices as of Nov 5, 2026 Peers: Industry group
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CMI Cummins Inc
$447.86 -16.4% 1M +2.0% 1Y
Market cap
$62.86B
P/E
18.9x
Revenue (TTM)
$35.83B
Div. yield
–
Heavy Equipment Industrials
8 wins
OSK Oshkosh Corp
$136.79 +3.5% 1M +9.4% 1Y
Market cap
$8.36B
P/E
16.8x
Revenue (TTM)
$10.76B
Div. yield
–
Heavy Equipment Industrials
1 win

Head to Head

11 decided of 12

Cummins leads on 8 of the 12 questions below (Cummins 8, Commercial Vehicle 2, Oshkosh 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionCVGICMIOSKLeader
Larger companyMarket capitalisation $121.28M $62.86B $8.36B CMI
Cheaper on earningsLower P/E, profitable companies only -11.7x 18.9x 16.8x OSK
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 14.3x 15.4x CMI
Faster revenue growthRevenue growth, trailing twelve months +11.0% +6.7% +4.2% CVGI
More profitableNet margin, trailing twelve months -1.4% 9.3% 4.6% CMI
Better return on capitalReturn on invested capital 9.5% 16.2% 10.2% CMI
Less leveragedLower net debt / EBITDA 2.5x 0.5x 0.6x CMI
Higher dividend yieldTrailing dividend yield 0.00% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months +120.9% +2.0% +9.4% CVGI
Better 5-year returnAnnualised price return, 5 years -18.4%/yr +13.6%/yr +3.5%/yr CMI
Less volatileAnnualised volatility, 1 year 82.4% 37.5% 39.8% CMI
Higher overall scoreMean of the five percentile scores vs peers 42/100 69/100 66/100 CMI

Percentile Scorecard

CVGICMIOSK

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisCVGICMIOSK
Valuation 86 #30 of 204 70 #63 of 204 89 #23 of 204
Growth 50 #96 of 191 65 #68 of 191 40 #115 of 191
Profitability 28 #136 of 189 73 #51 of 189 58 #80 of 189
Financial Health 25 #167 of 221 54 #103 of 221 51 #108 of 221
Shareholder Returns 20 #128 of 159 85 #25 of 159 91 #16 of 159
Overall 42 69 66
  • CVGI ranked among 223 companies in Machinery
  • CMI ranked among 223 companies in Machinery
  • OSK ranked among 223 companies in Machinery

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodCVGICMIOSKSPY
1 month +11.2%-16.4%+3.5% -5.9%
3 months -10.2%-30.4%-10.9% -4.6%
6 months -37.8%-34.4%-10.6% +0.2%
Year to date +127.1%-12.3%+8.9% +7.5%
1 year +120.9%+2.0%+9.4% +8.2%
3 years -44.5%+103.6%+48.6% +68.3%
3 years, per year -17.8%+26.8%+14.1% +19.0%
5 years -63.7%+88.9%+18.8% +56.5%
5 years, per year -18.4%+13.6%+3.5% +9.4%
10 years -28.0%+260.3%+147.7% +251.5%
10 years, per year -3.2%+13.7%+9.5% +13.4%

Risk

MeasureCVGICMIOSKSPY
Volatility, 1Y 82.4%37.5%39.8% 13.6%
Downside volatility, 1Y 69.0%40.0%39.0% 14.2%
Beta vs S&P 500, 1Y 1.541.531.29 1.00
Return / volatility, 1Y 1.470.050.24 0.60
Max drawdown, 5Y -92.7%-38.4%-43.5% -25.4%
From 52-week high -43.4%-38.4%-23.1% -5.9%
52-week high $5.78$727.59$177.94 $779.14
52-week low $1.34$439.18$118.59 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleCVGICMIOSK
P/E now vs peer median -11.8xmedian 23.4x 18.6xmedian 23.4x 17.0xmedian 23.4x
P/S now vs peer median 0.2xmedian 1.7x 1.7xmedian 1.7x 0.8xmedian 1.7x
EV/EBITDA now vs peer median 5.6xmedian 13.4x 11.5xmedian 13.4x 9.1xmedian 13.4x
P/FCF now vs peer median -311.0xmedian 21.9x 17.7xmedian 21.9x 8.9xmedian 21.9x
P/B now vs peer median 0.9xmedian 2.1x 4.3xmedian 2.1x 1.8xmedian 2.1x
PEG now vs peer median 0.80median 1.02 2.63median 1.02 45.72median 1.02

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsCVGICMIOSK
Revenue $729.59M $35.83B $10.76B
Gross profit $87.66M $9.27B $1.66B
Operating income $22.12M $4.49B $734.30M
Net income -$10.40M $3.44B $498.50M
Free cash flow -$396.00K $3.46B $942.10M
R&D – $1.49B –
EPS (diluted) $-0.27 $24.03 $8.01
Cash & equivalents – $3.57B $558.00M
Total debt $96.09M $7.17B $1.10B
Shares (diluted) 39.16M 138.10M 62.24M
Enterprise value $121.28M $58.67B $6.67B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricCVGICMIOSK
P/E -11.8x 18.6x 17.0x
P/FCF -311.0x 17.7x 8.9x
P/Operating cash flow 8.8x 12.9x 7.4x
P/S 0.2x 1.7x 0.8x
P/B 0.9x 4.3x 1.8x
P/Tangible book 0.9x 5.0x 2.2x
EV/EBITDA 5.6x 11.5x 9.1x
EV/EBIT 9.9x 14.4x 12.2x
EV/Revenue 0.3x 1.8x 0.8x
EV/FCF -553.6x 18.6x 9.5x
EV/Operating cash flow 15.7x 13.6x 7.9x
PEG (3Y EPS CAGR) 0.80 2.63 45.72

Growth

14 metrics
MetricCVGICMIOSK
Revenue growth (1Y) 11.0% 6.7% 4.2%
Revenue CAGR (3Y) -1.5% 2.5% 4.6%
Gross profit growth (1Y) 31.9% 7.8% -10.1%
Gross profit CAGR (3Y) -8.3% 4.8% 2.4%
Operating income growth (1Y) 636.1% 13.7% -22.8%
Operating income CAGR (3Y) -18.0% 5.9% -1.5%
Net income growth (1Y) 81.1% 23.5% -25.2%
Net income CAGR (3Y) -21.1% 6.1% -1.5%
EPS growth (1Y) 83.6% 25.0% -22.4%
EPS CAGR (3Y) -14.8% 7.1% 0.4%
Operating cash flow growth (1Y) 143.5% 35.3% 16.3%
Operating cash flow CAGR (3Y) -40.1% 12.6% 36.2%
Free cash flow growth (1Y) 92.6% 52.0% 26.0%
Free cash flow CAGR (3Y) -26.2% 16.9% 69.7%

Profitability

14 metrics
MetricCVGICMIOSK
Gross margin 12.0% 25.9% 15.4%
EBITDA margin 5.3% 15.7% 9.1%
Operating margin 3.0% 12.5% 6.8%
Pretax margin -0.4% 12.4% 5.9%
Net margin -1.4% 9.3% 4.6%
FCF margin -0.1% 9.7% 8.8%
Operating cash flow margin 1.9% 13.2% 10.5%
Return on equity -7.5% 24.3% 11.0%
Return on assets -2.2% 9.5% 4.9%
Return on invested capital 9.5% 16.2% 10.2%
Return on capital employed 7.5% 18.0% 10.5%
Asset turnover 1.6x 1.0x 1.1x
Cash conversion (OCF / net income) -1.3x 1.4x 2.3x
Stock comp / revenue 0.9% – 0.4%

Financial Health

11 metrics
MetricCVGICMIOSK
Debt / assets 19.9% 19.6% 10.7%
Debt / equity 0.7x 0.5x 0.2x
Net debt / EBITDA 2.5x 0.5x 0.6x
Debt / FCF -242.7x 2.1x 1.2x
Liabilities / assets 70.8% 60.8% 55.6%
Equity / assets 29.2% 39.2% 44.4%
Interest coverage 1.5x 14.1x 6.1x
Current ratio 1.9x 1.7x 1.7x
Quick ratio – 1.0x 0.7x
Cash ratio – 0.4x 0.2x
Altman Z-score 1.98 4.25 3.14

Shareholder Returns

7 metrics
MetricCVGICMIOSK
Dividend yield – 1.8% 1.6%
Net buyback yield 0.0% 1.3% 4.1%
Shareholder yield 0.0% 3.2% 5.7%
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusCVGICMIOSK
Forward P/E – 14.3xFY2026 15.4xFY2026
EPS, next fiscal year $-0.20FY2026 $31.39FY2026 $8.91FY2026
EPS growth, next FY – +31.9%FY2026 -17.4%FY2026
EPS growth, the year after – +14.7% +52.9%
Revenue, next fiscal year $788.53MFY2026 $35.38BFY2026 $10.52BFY2026
Revenue growth, next FY +21.5%FY2026 +5.1%FY2026 +1.0%FY2026
Revenue growth, the year after +3.7% +11.3% +6.1%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersCVGICMIOSK
Held by institutions 60.7% 85.4% 100.0%
Institutions holding 111 2,108 601
Change in shares held, QoQ +55.8% +1.0% +5.1%
Institutions buying 80 1,050 309
Institutions selling 20 729 188
Buyers to sellers 4.00 1.44 1.64

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

CVGICMIOSK
CVGI 1.00 0.37 0.17
CMI 0.37 1.00 0.53
OSK 0.17 0.53 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, CVGI, CMI and OSK?

Cummins (CMI) is the largest by market capitalisation: Commercial Vehicle (CVGI) $121.28M, Cummins (CMI) $62.86B, Oshkosh (OSK) $8.36B.

Which stock is cheaper, CVGI, CMI and OSK?

Oshkosh (OSK) trades on the lowest price-to-earnings ratio (Commercial Vehicle (CVGI) -11.7x, Cummins (CMI) 18.9x, Oshkosh (OSK) 16.8x). On next year's consensus earnings, Cummins (CMI) is cheapest (Cummins (CMI) 14.3x, Oshkosh (OSK) 15.4x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Commercial Vehicle (CVGI) grew revenue fastest over the trailing twelve months: Commercial Vehicle (CVGI) +11.0%, Cummins (CMI) +6.7%, Oshkosh (OSK) +4.2%.

Which company is more profitable?

Cummins (CMI) has the highest net margin (Commercial Vehicle (CVGI) -1.4%, Cummins (CMI) 9.3%, Oshkosh (OSK) 4.6%). On return on invested capital, Cummins (CMI) leads (Commercial Vehicle (CVGI) 9.5%, Cummins (CMI) 16.2%, Oshkosh (OSK) 10.2%).

Which stock has performed better?

Over the past year Commercial Vehicle (CVGI) returned the most: Commercial Vehicle (CVGI) +120.9%, Cummins (CMI) +2.0%, Oshkosh (OSK) +9.4%. Over five years, Cummins (CMI) compounded fastest (Commercial Vehicle (CVGI) -18.4%/yr, Cummins (CMI) +13.6%/yr, Oshkosh (OSK) +3.5%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Cummins (CMI) has been the steadiest (Commercial Vehicle (CVGI) 82.4%, Cummins (CMI) 37.5%, Oshkosh (OSK) 39.8%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, CVGI, CMI and OSK?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Cummins (CMI) leads on 8. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.