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Makes filtration products for air, fuel and oil in trucks, off-highway and industrial engines, spun off from Cummins.
Makes filtration products for air, fuel and oil in trucks, off-highway and industrial engines, spun off from Cummins.
Sells filters two ways: to engine makers for new engines, where Cummins is the largest customer, and as replacement filters through distributors under the Fleetguard brand, a steadier business since filters wear out. Listed in 2024 after Cummins floated it.
Moat: narrow (brand, distribution, installed base). Fleetguard aftermarket brand has strong distribution reach but Cummins remains a large customer concentration risk.
Headquarters: Nashville, Tennessee, US · Founded: 2023 · Employees: 4,500
Size Atmus Filtration Technologies (ATMU) is a United States Consumer Discretionary company (Auto Parts: OEM) with a market value of $4.13B, the 1327th largest of 3,117 United States companies the cockpit tracks. Shares closed at $50.60 on 6 Nov 2026.
Performance Over six months the shares fell 9.0%, against -11.7% for the median peer and -1.1% for the United States market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 13.1% over the last twelve months (peer median +8.3%); the operating margin is 16.9% (peer median 6.8%).
Valuation It trades at 16.2× forward earnings against a peer median of 13.6× (7th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +1 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 10.5 points above its cost of capital (9.6% WACC).
Short interest Short interest is 4.1% of the free float (15 Oct 2026).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.90B | $1.76B | $1.67B | $1.63B | $1.56B |
| Revenue growth | — | +6% | +3% | +4% | — |
| Gross profit | $544M | $510M | $473M | $444M | $359M |
| EBITDA | $359M | $319M | $284M | $265M | $202M |
| Net income | $215M | $207M | $186M | $171M | $170M |
| Free cash flow | $190M | $149M | $56.8M | $143M | $128M |
| Capital expenditure | $55.1M | $53.9M | $48.6M | $45.8M | $37.5M |
| Total debt | $1.06B | $613M | $633M | $626M | $33.3M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Atmus Filtration Technologies ATMU | $4.13B | -9% | +13% | 17% | 16.2× | 8.1% |
| Donaldson DCI | $9.77B | -2% | +5% | 16% | 19.5× | 8.3% |
| Parker Hannifin PH | $116B | +4% | +8% | 22% | 24.4× | 19.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ATMU | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +18.7% | -5.3% | 2nd highest of 21 |
| 6-month return | -9.0% | -11.7% | 8th highest of 21 |
| Distance from 52-week high | -23.9% | -30.7% | 7th highest of 21 |
| Revenue growth (TTM) | +13.1% | +8.3% | 6th highest of 21 |
| Operating margin | 16.9% | 6.8% | 2nd highest of 21 |
| Forward P/E | 16.2× | 13.6× | 7th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 8.1% | -0.1% | 5th most demanding of 17 |
| Growth delivered (Del g) | +7.4% | +9.4% | 6th lowest of 16 |
| Hurdle (Req g minus delivered) | +0.7 pp | -8.8 pp | 2nd most demanding of 16 |
| ROIC minus cost of capital | +10.5 pp | +0.9 pp | 2nd highest of 21 |
| EV / EBITDA | 13.7× | 5.2× | 2nd most expensive of 10 |
| Net debt / EBITDA | 2.2× | 0.5× | most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Atmus Filtration Technologies ATMU | United States | $4.13B | -9% | +13% | 17% | 16.2× | 8.1% | +7.4% |
| Gentex GNTX | United States | $4.19B | -15% | +8% | 19% | 9.9× | -4.7% | +8.5% |
| Koito Manufacturing 7276.T | Japan | $4.27B | -6% | +6% | 6% | 13.3× | -0.8% | +6.1% |
| Ningbo Joyson Electronic 600699.SS | China | $4.44B | -27% | -6% | 5% | 21.9× | -1.1% | +5.0% |
| Fulin Precision 300432.SZ | China | $3.84B | -47% | +95% | 5% | 20.2× | n/a | n/a |
| Inter Cars CAR.WA | Poland | $3.83B | +38% | +12% | 6% | 13.9× | 9.5% | +18.3% |
| Jtekt 6473.T | Japan | $3.82B | -1% | +4% | 5% | 11.4× | 1.2% | +9.1% |
| Toyoda Gosei 7282.T | Japan | $3.81B | +26% | +13% | 7% | 9.8× | 0.5% | +9.7% |
| ZCZL Industrial Technology 601717.SS | China | $3.80B | -19% | -1% | 8% | 6.3× | -9.8% | +9.4% |
| Garrett Motion GTX | United States | $3.72B | -31% | +7% | 15% | 9.9× | -6.9% | +3.4% |
| Bethel Automotive Safety Systems 603596.SS | China | $3.70B | -11% | +21% | 10% | 16.0× | 7.0% | +31.7% |
| Linamar LNR.TO | Canada | $3.63B | -9% | +9% | 9% | 7.1× | -8.4% | +12.0% |
| Aumovio AMV0.DE | Germany | $3.57B | -12% | -6% | -6% | n/a | 10.2% | n/a |
| Zhejiang Yinlun Machinery 002126.SZ | China | $3.53B | -39% | +28% | 7% | 23.0× | 14.6% | +19.9% |
| CIE Automotive CIE.MC | Spain | $3.46B | -11% | +4% | 14% | 8.5× | -6.7% | +6.5% |
| Suzhou Inovance Automotive 301656.SZ | China | $4.95B | -31% | +28% | 1% | 676.0× | n/a | n/a |
| Jiangsu Xinquan Automotive Trim 603179.SS | China | $5.07B | +5% | +12% | 6% | 33.5× | n/a | n/a |
| Sensteed Hi-Tech 000981.SZ | China | $3.36B | -42% | -15% | -39% | n/a | n/a | n/a |
| Anhui Zhongding Sealing Parts 000887.SZ | China | $3.32B | -3% | +9% | 8% | 15.1× | 3.8% | +11.4% |
| Lear LEA | United States | $5.31B | -21% | +4% | 4% | 6.9× | -1.3% | +6.4% |
| Exide Industries EXIDEIND.NS | India | $3.20B | -2% | +13% | 8% | 21.7× | 27.5% | +11.7% |