Latest Ratios: P/E Ratio 18.0x · EV/EBITDA 12.6x · ROE 68.5%. (2020–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Market Cap | $3.7B | $4.3B | $3.3B | $2.0B | — | — | — |
| Enterprise Value | $4.0B | $4.6B | $3.7B | $2.4B | — | — | — |
| P/E Ratio → | 17.98 | 20.76 | 17.65 | 11.46 | — | — | — |
| P/S Ratio | 2.08 | 2.44 | 1.96 | 1.20 | — | — | — |
| P/B Ratio | 9.83 | 11.36 | 14.40 | 24.28 | — | — | — |
| P/FCF | 24.67 | 28.89 | 57.67 | 13.68 | — | — | — |
| P/OCF | 18.11 | 21.20 | 31.08 | 10.37 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.63 | 2.23 | 1.48 | — | — | — |
| EV / EBITDA | 12.56 | 14.53 | 12.79 | 8.96 | — | — | — |
| EV / EBIT | 13.86 | 15.46 | 14.25 | 10.34 | — | — | — |
| EV / FCF | — | 31.13 | 65.54 | 16.88 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 28.9% | 28.9% | 28.4% | 27.1% | 23.0% | 24.3% | 25.1% |
| Operating Margin | 16.4% | 16.4% | 15.9% | 15.3% | 13.1% | 14.8% | 16.1% |
| Net Profit Margin | 11.8% | 11.8% | 11.1% | 10.5% | 10.9% | 11.8% | 11.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | 68.5% | 68.5% | 120.5% | 63.9% | 38.2% | 38.4% | 31.9% |
| ROA | 16.3% | 16.3% | 16.3% | 17.5% | 19.9% | 20.8% | 18.1% |
| ROIC | 31.2% | 31.2% | 32.9% | 36.3% | 31.8% | 33.8% | 31.3% |
| ROCE | 31.6% | 31.6% | 34.2% | 39.7% | 38.3% | 40.3% | 37.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.51 | 1.51 | 2.78 | 7.76 | 0.07 | 0.08 | 0.06 |
| Debt / EBITDA | 1.79 | 1.79 | 2.17 | 2.32 | 0.14 | 0.15 | 0.13 |
| Net Debt / Equity | — | 0.88 | 1.97 | 5.67 | 0.07 | 0.08 | 0.06 |
| Net Debt / EBITDA | 1.05 | 1.05 | 1.54 | 1.70 | 0.14 | 0.15 | 0.13 |
| Debt / FCF | — | 2.24 | 7.88 | 3.20 | 0.25 | 0.20 | 0.15 |
| Interest Coverage | 8.97 | 8.97 | 6.43 | 9.06 | 251.29 | 229.75 | 502.50 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 2.42 | 2.42 | 2.19 | 1.85 | 1.51 | 1.51 | 1.71 |
| Quick Ratio | 1.66 | 1.66 | 1.42 | 1.18 | 0.77 | 0.74 | 0.94 |
| Cash Ratio | 0.64 | 0.64 | 0.53 | 0.45 | — | — | 0.07 |
| Asset Turnover | — | 1.31 | 1.40 | 1.50 | 1.80 | 1.70 | 1.57 |
| Inventory Turnover | 4.44 | 4.44 | 4.48 | 4.74 | 4.91 | 4.43 | 4.66 |
| Days Sales Outstanding | — | 66.22 | 55.57 | 55.33 | 55.14 | 56.50 | 59.02 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.5% | 0.4% | 0.3% | — | — | — | — |
| Payout Ratio | 8.3% | 8.3% | 4.5% | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.6% | 4.8% | 5.7% | 8.7% | — | — | — |
| FCF Yield | 4.1% | 3.5% | 1.7% | 7.3% | — | — | — |
| Buyback Yield | 1.7% | 1.4% | 0.6% | 0.0% | — | — | — |
| Total Shareholder Yield | 2.1% | 1.8% | 0.9% | 0.0% | — | — | — |
| Shares Outstanding | — | $83M | $84M | $83M | $83M | $83M | $83M |
Includes 30+ ratios · 6 years · Updated daily
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Quick answers to the most common questions about buying ATMU stock.
Atmus Filtration Technologies Inc.'s current P/E ratio is 18.0x. The historical average is 16.6x. This places it at the 67th percentile of its historical range.
Atmus Filtration Technologies Inc.'s current EV/EBITDA is 12.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.1x.
Atmus Filtration Technologies Inc.'s return on equity (ROE) is 68.5%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 60.2%.
Based on historical data, Atmus Filtration Technologies Inc. is trading at a P/E of 18.0x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Atmus Filtration Technologies Inc.'s current dividend yield is 0.46% with a payout ratio of 8.3%.
Atmus Filtration Technologies Inc. has 28.9% gross margin and 16.4% operating margin. Operating margin between 10-20% is typical for established companies.
Atmus Filtration Technologies Inc.'s Debt/EBITDA ratio is 1.8x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Post-separation cost dis-synergies
Metrics are mathematically derived from official filings.
Margin Expansion Defies Dis-Synergy Fears
Gross margin improved to 29.2% in 2026Q2 from 27.3% a year earlier, according to the latest quarterly data, while operating margin reached 18.4%, suggesting pricing power and mix benefits are offsetting cost pressures.
The sequential and year-over-year expansion in gross and operating margins, despite the loss of Cummins' bulk purchasing power, indicates that management's pricing actions and product mix shifts are more than compensating for any input cost inflation. Net margin of 12.1% in 2026Q2 is near the top of the ten-quarter range, reinforcing that the standalone cost structure is not yet a drag. However, the elevated tax rate of 34.3% and stock-based compensation warrant monitoring, as they could temper net margin sustainability.
ROIC Recovery Masks Efficiency Decay
ROIC fell from 9.5% in 2024Q2 to 6.0% in 2026Q2, as per the ratio data, despite margin expansion, indicating that asset growth is outpacing profit generation and diluting capital efficiency.
The decline in ROIC, even as margins improved, points to a balance sheet that is growing faster than operating income, likely due to the goodwill spike and increased working capital. ROE has also moderated from the 37.5% peak in 2024Q2 to 14.9% in 2026Q2, reflecting a larger equity base post-separation. This suggests that while the company is profitable, it is not yet compounding returns on invested capital at the rate its margins would imply, and investors should watch whether asset turnover stabilizes.
Working Capital Drag Persists Despite Sales Growth
Cash conversion cycle lengthened to 79 days in 2026Q2 from 65 days in 2024Q2, as reported in the ratio data, driven by rising DSO and DIO, indicating that rapid sales growth is absorbing cash.
The increase in days sales outstanding to 62 and days inventory outstanding to 72 suggests that the company is extending credit and building inventory to support demand, which is typical during acceleration but can strain liquidity if not managed. The cumulative working capital drag of -$179.8M over ten quarters, as noted in the cash flow analysis, underscores that operating cash flow is being held back by these efficiency losses. Asset turnover has also declined from 0.39 to 0.28, reflecting the larger asset base, and this trend warrants close monitoring.
Deleveraging Trend Tempered by Debt Spike
Debt-to-equity fell from 5.17 in 2024Q1 to 2.20 in 2026Q2, but interest coverage dipped to 7.04 in 2026Q2 from 10.02 a year earlier, as per the ratio data, indicating a temporary rise in debt service burden.
The sharp deleveraging from the post-separation peak is a positive sign, but the 2026Q1 spike in D/E to 2.62 and the subsequent rise in D/EBITDA to 9.18 suggest that the company took on additional debt, possibly for the acquisition that drove goodwill higher. Interest coverage remains comfortable, but the decline from double-digit levels warrants attention, especially if earnings growth slows. The low absolute debt levels relative to equity suggest a conservative capital structure, but the recent debt increase should be monitored for refinancing risk.
Liquidity Buffer Strengthens, But Inventory Risk Looms
Current ratio improved to 2.65 in 2026Q2 from 2.00 in 2024Q1, with quick ratio at 1.83, as per the ratio data, indicating a robust liquidity position that can absorb working capital swings.
The steady improvement in both current and quick ratios suggests that the company has ample short-term assets to cover liabilities, even as inventory levels rise. The quick ratio of 1.83, which excludes inventory, indicates that the liquidity buffer is not overly dependent on selling inventory, which is reassuring given the DIO increase. However, the inventory build could become a drag if demand softens, and the cash conversion cycle of 79 days suggests that cash is tied up in operations for longer, which could pressure liquidity if the trend continues.
P/E Misleads on Cyclical Filtration Demand
The trailing P/E of 20.40 appears reasonable, but it obscures the cyclicality of OE sales and the potential for margin compression from dis-synergies, as per the valuation data, suggesting a forward EV/EBITDA of 9.05 is more informative.
The market often applies a simple P/E to ATMU, but this fails to capture the bifurcated revenue model where aftermarket profits are more stable than OE. The forward EV/EBITDA of 9.05, which is below the trailing 14.11, implies that the market expects EBITDA growth, but this could be overly optimistic if dis-synergies materialize. Investors should focus on aftermarket revenue growth and gross margin stability rather than headline P/E, as the latter is distorted by one-time separation costs and the cyclicality of new equipment sales.