Atmus Filtration Technologies Inc. (ATMU) 10-Year Financial Performance & Capital Metrics

ATMU • • Industrial / General

IndustrialsEnvironmental ServicesIndustrial Filtration & SeparationIndustrial Filtration Equipment

AboutAtmus Filtration Technologies Inc. designs, manufactures, and sells filtration products under the Fleetguard brand name in North America, Europe, South America, Asia, Australia, Africa, and internationally. It offers fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters, and coolants, as well as fuel additives. The company's products are used in on-highway and off-highway commercial vehicles; and agriculture, construction, mining, and power generation vehicles and equipment. It serves original equipment manufacturers, dealers/distributors, and end-users. The company was founded in 1958 and is headquartered in Nashville, Tennessee. Atmus Filtration Technologies Inc. operates as a subsidiary of Cummins Inc.Show more

Revenue $1.67B +2.5%
EBITDA $291M +7.8%
Net Income $186M +8.3%
EPS (Diluted) 2.22 +8.3%
Gross Margin 28.4% +4.6%
EBITDA Margin 17.43% +5.1%
Operating Margin 15.94% +4.5%
Net Margin 11.12% +5.7%
ROE 120.48% +88.6%
ROIC 32.91% -9.3%
Debt/Equity 2.78 -64.2%
Interest Coverage 6.56 -31.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 74.2%
✓Healthy 5Y average net margin of 11.2%
✓Trading near 52-week high
✓Efficient asset utilization: 1.4x turnover

✗Weaknesses

✗High debt to equity ratio of 2.8x
✗Expensive at 21.0x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y5.08%

TTM3.72%

Profit (Net Income) CAGR

10Y-

5Y-

3Y2.95%

TTM10.65%

EPS CAGR

10Y-

5Y-

3Y2.86%

TTM11.11%

ROCE

10Y Avg38%

5Y Avg38%

3Y Avg37.4%

Latest34.15%

Peer Comparison

Industrial Filtration Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ATMUAtmus Filtration Technologies Inc.	4.66B	57.21	25.77	2.55%	11.57%	59.25%	1.22%	2.78

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.23B	1.44B	1.56B	1.63B	1.67B
Revenue Growth %	-	0.17%	0.09%	0.04%	0.03%
Cost of Goods Sold+	923.2M	1.09B	1.2B	1.19B	1.2B
COGS % of Revenue	0.75%	0.76%	0.77%	0.73%	0.72%
Gross Profit+	309.4M	349.3M	359.2M	441.9M	474.2M
Gross Margin %	0.25%	0.24%	0.23%	0.27%	0.28%
Gross Profit Growth %	-	0.13%	0.03%	0.23%	0.07%
Operating Expenses+	110.4M	135.8M	155.3M	193.5M	208M
OpEx % of Revenue	0.09%	0.09%	0.1%	0.12%	0.12%
Selling, General & Admin	112.1M	0	0	0	0
SG&A % of Revenue	0.09%	-	-	-	-
Research & Development	39M	42M	38.6M	42.5M	40.6M
R&D % of Revenue	0.03%	0.03%	0.02%	0.03%	0.02%
Other Operating Expenses	-40.7M	93.8M	116.7M	151M	167.4M
Operating Income+	199M	213.5M	203.9M	248.4M	266.2M
Operating Margin %	0.16%	0.15%	0.13%	0.15%	0.16%
Operating Income Growth %	-	0.07%	-0.04%	0.22%	0.07%
EBITDA+	219.7M	235.1M	225.5M	269.9M	291M
EBITDA Margin %	0.18%	0.16%	0.14%	0.17%	0.17%
EBITDA Growth %	-	0.07%	-0.04%	0.2%	0.08%
D&A (Non-Cash Add-back)	20.7M	21.6M	21.6M	21.5M	24.8M
EBIT	201M	183.8M	175.9M	233.8M	261.2M
Net Interest Income+	-400K	-800K	-700K	-25.8M	-40.6M
Interest Income	0	0	0	0	0
Interest Expense	400K	800K	700K	25.8M	40.6M
Other Income/Expense	1.6M	3.1M	8.1M	-22M	-31.4M
Pretax Income+	200.6M	216.6M	212M	226.4M	234.8M
Pretax Margin %	0.16%	0.15%	0.14%	0.14%	0.14%
Income Tax+	57.8M	46.5M	41.6M	55.1M	49.2M
Effective Tax Rate %	0.71%	0.79%	0.8%	0.76%	0.79%
Net Income+	142.8M	170.1M	170.4M	171.3M	185.6M
Net Margin %	0.12%	0.12%	0.11%	0.11%	0.11%
Net Income Growth %	-	0.19%	0%	0.01%	0.08%
Net Income (Continuing)	142.8M	170.1M	170.4M	171.3M	185.6M
Discontinued Operations	0	0	0	0	0
Minority Interest	0	0	0	0	0
EPS (Diluted)+	1.71	2.04	2.05	2.05	2.22
EPS Growth %	-	0.19%	0%	0%	0.08%
EPS (Basic)	1.71	2.04	2.05	2.06	2.23
Diluted Shares Outstanding	83.3M	83.3M	83.3M	83.4M	83.6M
Basic Shares Outstanding	83.3M	83.3M	83.3M	83.3M	83.2M
Dividend Payout Ratio	-	-	-	-	0.04%

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	439.2M	482.1M	500.3M	693M	755M
Cash & Short-Term Investments	17.7M	0	0	168M	184.3M
Cash Only	0	0	0	168M	184.3M
Short-Term Investments	17.7M	0	0	0	0
Accounts Receivable	199.3M	222.7M	236M	246.8M	254.2M
Days Sales Outstanding	59.02	56.5	55.14	55.33	55.57
Inventory	198.2M	245.8M	245M	250M	266.6M
Days Inventory Outstanding	78.36	82.35	74.34	76.93	81.4
Other Current Assets	0	0	0	28.2M	49.9M
Total Non-Current Assets+	347.7M	366.2M	367.1M	395.6M	435.3M
Property, Plant & Equipment	161.5M	141.1M	148.4M	199.4M	186.2M
Fixed Asset Turnover	7.63x	10.20x	10.53x	8.16x	8.97x
Goodwill	84.7M	84.7M	84.7M	84.7M	84.7M
Intangible Assets	0	0	0	0	0
Long-Term Investments	85.5M	87M	77M	84.8M	84.9M
Other Non-Current Assets	16M	53.4M	42.7M	12.5M	61M
Total Assets+	786.9M	848.3M	867.4M	1.09B	1.19B
Asset Turnover	1.57x	1.70x	1.80x	1.50x	1.40x
Asset Growth %	-	0.08%	0.02%	0.26%	0.09%
Total Current Liabilities+	256.3M	319.9M	331M	375M	344.9M
Accounts Payable	172.6M	140.1M	145.9M	174.2M	193.1M
Days Payables Outstanding	68.24	46.94	44.27	53.6	58.96
Short-Term Debt	0	0	0	7.5M	22.5M
Deferred Revenue (Current)	0	0	0	0	0
Other Current Liabilities	13.4M	28.8M	18.2M	71.4M	37.2M
Current Ratio	1.71x	1.51x	1.51x	1.85x	2.19x
Quick Ratio	0.94x	0.74x	0.77x	1.18x	1.42x
Cash Conversion Cycle	69.14	91.91	85.21	78.65	78.01
Total Non-Current Liabilities+	83M	91.2M	80.8M	632.9M	618M
Long-Term Debt	0	0	0	592.5M	570M
Capital Lease Obligations	20.2M	0	23.2M	18.5M	26.6M
Deferred Tax Liabilities	0	0	7.3M	1.4M	1.4M
Other Non-Current Liabilities	62.8M	91.2M	50.3M	20M	20M
Total Liabilities	339.3M	411.1M	411.8M	1.01B	962.9M
Total Debt+	28.5M	9.8M	32.6M	625.9M	631.6M
Net Debt	28.5M	9.8M	32.6M	457.9M	447.3M
Debt / Equity	0.06x	0.02x	0.07x	7.76x	2.78x
Debt / EBITDA	0.13x	0.04x	0.14x	2.32x	2.17x
Net Debt / EBITDA	0.13x	0.04x	0.14x	1.70x	1.54x
Interest Coverage	497.50x	266.88x	291.29x	9.63x	6.56x
Total Equity+	447.6M	437.2M	455.6M	80.7M	227.4M
Equity Growth %	-	-0.02%	0.04%	-0.82%	1.82%
Book Value per Share	5.37	5.25	5.47	0.97	2.72
Total Shareholders' Equity	447.6M	437.2M	455.6M	80.7M	227.4M
Common Stock	477.9M	478.8M	0	0	0
Retained Earnings	0	0	0	87.2M	264.5M
Treasury Stock	0	0	0	0	-20M
Accumulated OCI	-30.3M	-41.6M	-55.8M	-56.2M	-79M
Minority Interest	0	0	0	0	0

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	213.1M	209.9M	165.7M	189M	105.4M
Operating CF Margin %	0.17%	0.15%	0.11%	0.12%	0.06%
Operating CF Growth %	-	-0.02%	-0.21%	0.14%	-0.44%
Net Income	142.8M	170.1M	170.4M	171.3M	185.6M
Depreciation & Amortization	21.1M	21.6M	21.6M	21.5M	24.8M
Stock-Based Compensation	0	0	0	0	11.9M
Deferred Taxes	3.4M	-2.7M	-12.7M	-10M	-7.7M
Other Non-Cash Items	-21M	-9.6M	6.9M	-5.4M	-11.1M
Working Capital Changes	66.8M	30.5M	-20.5M	11.6M	-98.1M
Change in Receivables	-6.8M	-7.8M	-18.3M	-10.1M	-16.8M
Change in Inventory	6.1M	-43.5M	-9.7M	-4.3M	-25.4M
Change in Payables	21.5M	20.5M	18.5M	4.4M	-39.3M
Cash from Investing+	-26.5M	-33.4M	-37.5M	-45.8M	-48.6M
Capital Expenditures	-26.5M	-33.4M	-37.5M	-45.8M	-48.6M
CapEx % of Revenue	0.02%	0.02%	0.02%	0.03%	0.03%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	1M	0	0	0	0
Cash from Financing+	-186.6M	-176.5M	-128.2M	24.8M	-35.8M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	0	0	0	-8.3M
Share Repurchases	-	-	-	-	-
Other Financing	0	170.4M	-128.2M	4.3M	0
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	186.6M	176.5M	128.2M	143.2M	56.8M
FCF Margin %	0.15%	0.12%	0.08%	0.09%	0.03%
FCF Growth %	-	-0.05%	-0.27%	0.12%	-0.6%
FCF per Share	2.24	2.12	1.54	1.72	0.68
FCF Conversion (FCF/Net Income)	1.49x	1.23x	0.97x	1.10x	0.57x
Interest Paid	0	0	0	0	0
Taxes Paid	0	0	0	0	0

Key Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	31.9%	38.45%	38.17%	63.88%	120.48%
Return on Invested Capital (ROIC)	31.35%	34.69%	32.7%	36.29%	32.91%
Gross Margin	25.1%	24.28%	22.99%	27.14%	28.4%
Net Margin	11.59%	11.82%	10.91%	10.52%	11.12%
Debt / Equity	0.06x	0.02x	0.07x	7.76x	2.78x
Interest Coverage	497.50x	266.88x	291.29x	9.63x	6.56x
FCF Conversion	1.49x	1.23x	0.97x	1.10x	0.57x
Revenue Growth	-	16.73%	8.57%	4.23%	2.55%

Revenue by Segment

	2023	2024
Fuel Products	705.2M	720.2M
Fuel Products Growth	-	2.13%
Other	335.1M	334M
Other Growth	-	-0.33%
Lube	305.4M	326.8M
Lube Growth	-	7.01%
Air	282.4M	288.6M
Air Growth	-	2.20%

Revenue by Geography

	2023	2024
Non-US	881.6M	887.3M
Non-US Growth	-	0.65%
UNITED STATES	746.5M	782.3M
UNITED STATES Growth	-	4.80%

Frequently Asked Questions

Valuation & Price

Atmus Filtration Technologies Inc. (ATMU) has a price-to-earnings (P/E) ratio of 25.8x. This suggests investors expect higher future growth.

Growth & Financials

Atmus Filtration Technologies Inc. (ATMU) reported $1.72B in revenue for fiscal year 2024. This represents a 40% increase from $1.23B in 2020.

Atmus Filtration Technologies Inc. (ATMU) grew revenue by 2.5% over the past year. Growth has been modest.

Yes, Atmus Filtration Technologies Inc. (ATMU) is profitable, generating $199.5M in net income for fiscal year 2024 (11.1% net margin).

Dividend & Returns

Yes, Atmus Filtration Technologies Inc. (ATMU) pays a dividend with a yield of 0.17%. This makes it attractive for income-focused investors.

Atmus Filtration Technologies Inc. (ATMU) has a return on equity (ROE) of 120.5%. This is excellent, indicating efficient use of shareholder capital.

Atmus Filtration Technologies Inc. (ATMU) generated $127.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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