Atmus Filtration Technologies Inc. ATMU
Atmus is one of the global leaders of filtration products for on-highway commercial vehicles and off-highway agriculture, construction, mining and power generation vehicles and equipment. Atmus designs and manufactures advanced filtration products, principally under the Fleetguard brand, that enable lower emissions and provide superior asset protection. Atmus estimates that approximately 14% of Atmus' net sales in 2025 were generated through first-fit sales to original equipment manufacturers ("OEM"s), where Atmus' products are installed as components for new vehicles and equipment, and approximately 86% were generated in the aftermarket, where Atmus' products are installed as replacement or repair parts, leading to a strong recurring revenue base. Building on Atmus' more than 65-year history, Atmus continues to grow and differentiate itself through its global footprint, comprehensive offering of premium products, technology leadership and multi-channel path to market.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.76B | $1.67B | $1.63B | $1.56B | $1.44B | — |
| Cost of revenue | $1.27B | $1.21B | $1.20B | $1.20B | $1.09B | — |
| Gross profit | $498.3M | $462.1M | $432.7M | $359.2M | $349.3M | — |
| R&D | $40.7M | $40.6M | $42.5M | $38.6M | $42.0M | — |
| SG&A | $184.3M | $187.6M | $174.7M | $139.7M | $126.2M | — |
| Operating income | $299.0M | $266.2M | $248.4M | $203.9M | $213.5M | — |
| Interest expense | $33.4M | $40.6M | $25.8M | $700.0K | $800.0K | — |
| Pre-tax income | $266.2M | $234.8M | $226.4M | $212.0M | $216.6M | — |
| Income tax | $58.8M | $49.2M | $55.1M | $41.6M | $46.5M | — |
| Net income | $207.4M | $185.6M | $171.3M | $170.4M | $170.1M | — |
| EPS, basic | 2.52 | 2.23 | 2.06 | 2.05 | 2.04 | — |
| EPS, diluted | 2.50 | 2.22 | 2.05 | 2.05 | 2.04 | — |
| Shares, diluted (wtd. avg.) | $82.8M | $83.6M | $83.4M | $83.3M | $83.3M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $236.4M | $184.3M | $168.0M | $0 | $0 | $0 |
| Receivables | $320.1M | $254.2M | $246.8M | $174.2M | — | — |
| Inventory | $282.3M | $266.6M | $250.0M | $245.0M | — | — |
| Total current assets | $892.4M | $755.0M | $693.0M | $500.3M | — | — |
| Goodwill | $84.7M | $84.7M | $84.7M | $84.7M | — | — |
| Total assets | $1.35B | $1.19B | $1.09B | $867.4M | — | — |
| Accounts payable | $201.9M | $193.1M | $236.6M | $145.9M | — | — |
| Short-term debt | $30.0M | $22.5M | $7.5M | $0 | — | — |
| Total current liabilities | $368.2M | $344.9M | $375.0M | $331.0M | — | — |
| Long-term debt | $540.0M | $570.0M | $592.5M | $0 | — | — |
| Total liabilities | $972.2M | $962.9M | $1.01B | $411.8M | — | — |
| Retained earnings | $454.6M | $264.5M | $87.2M | $0 | — | — |
| Total equity | $378.5M | $227.4M | $80.7M | $455.6M | $427.6M | $445.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | $202.7M | $105.4M | $189.0M | $165.7M | $209.9M | — |
| Depreciation and amortisation | $30.0M | $24.8M | $21.5M | $21.6M | $21.6M | — |
| Stock-based compensation | $12.4M | $11.9M | $7.2M | $0 | — | — |
| Capital expenditure | $53.9M | $48.6M | $45.8M | $37.5M | $33.4M | — |
| Investing cash flow | -$53.9M | -$48.6M | -$45.8M | -$37.5M | -$33.4M | — |
| Financing cash flow | -$101.7M | -$35.8M | $24.8M | -$128.2M | -$176.5M | — |
| Buybacks | $60.7M | $20.0M | $0 | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001921963-26-000015.
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