# Atmus Filtration Technologies Inc. (ATMU)

> Source: Nexqual · https://nexqual.com/ATMU · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Atmus Filtration Technologies Inc. (ATMU), nexqual.com/ATMU" · informational, not investment advice.

**Price:** USD 44.75 (-0.73% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 45.08 · day 43.7–45.02 · 52w 40.75–66.5 · market cap $3.65B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.90B, net income $215M (11.3% margin), free cash flow $190M (SEC filings).
- Valuation: P/E 17.0x (avg 16.6x at the last 3 fiscal year-ends), EV/EBITDA 12.0x, net debt $741M.
- Insider open-market sales, last ~7 months: 5 Form 4 filings, $1.8M; 5 not under a Rule 10b5-1 plan ($1.8M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 2 Form 4 filings, $210K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (5 analysts), mean target USD 62.6 (range 54–73).
- Total return with dividends: 1Y -1.6% vs S&P 500 +14.9%; 5Y +109.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-06, EPS estimate USD 0.73, revenue estimate $502M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.44B | $1.56B | $1.63B | $1.67B | $1.76B | $1.90B |
| Gross profit | $349M | $359M | $433M | $462M | $498M | — |
| Operating income | $214M | $204M | $248M | $266M | $299M | $326M |
| Net income | $170M | $170M | $171M | $186M | $207M | $215M |
| EPS (diluted) | $2.04 | $2.05 | $2.05 | $2.22 | $2.50 | — |
| Free cash flow | $177M | $128M | $143M | $56.8M | $149M | $190M |
| Gross margin | 24.3% | 23.0% | 26.6% | 27.7% | 28.2% | — |
| Operating margin | 14.8% | 13.1% | 15.3% | 15.9% | 16.9% | 17.2% |
| Net margin | 11.8% | 10.9% | 10.5% | 11.1% | 11.8% | 11.3% |
| Revenue growth | — | +8.6% | +4.2% | +2.5% | +5.7% | — |
| Cash + short-term investments | $0K | $0K | $168M | $184M | $236M | — |
| Total debt | — | $0K | $600M | $593M | $570M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 17.0x · P/S 1.9x · EV/EBITDA 12.0x · EV/Sales 2.3x · P/FCF 19.2x · P/B 8.0x · FCF yield 5.21% · Earnings yield 5.89% · Buyback yield (TTM) 1.39% · Net debt $741M · EV $4.39B
P/E at fiscal year-ends: Dec 2025 20.7x, Dec 2024 17.6x, Dec 2023 11.4x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 5 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-17 | Swan Renee | Chief People Officer | 3,870 | $197K | 7.6% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-01 | Swan Renee | Chief People Officer | 2,566 | $116K | 4.8% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-01 | Masters Charles | Senior Vice President | 2,890 | $131K | 6.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-01 | Kienzler Jack | Chief Financial Officer | 5,132 | $232K | 6.3% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-01 | Disher Stephanie | Chief Executive Officer | 25,652 | $1.2M | 6.6% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
2 purchases, $210K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-12 | Macadam Stephen E. | Director | 2,000 | $100K | 49.78 | Too little history (no open-market trades in 2025) |
| 2026-05-12 | Haggerty Gretchen R | Director | 1,973 | $110K | 55.74 | Too little history (no open-market trades in 2023 or 2025) |

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 5 analysts; mean target USD 62.6 (low 54, high 73).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-08 | JP Morgan | Target lowered | Overweight | $67 → $54 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2023-05-22) |
|---|---|---|
| Total return | -1.6% | +109.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -1.6% | +24.1% |
| Volatility (annualized) | 39.5% | 32.6% |
| Max drawdown | -34.9% (Mar 2026→Oct 2026) | -33.7% (Feb 2026→Oct 2026) |

## Peers (Auto Parts)
DORM (Dorman Products, Inc.) USD 127.49 +3.34% · GTX (Garrett Motion Inc.) USD 22 -8.07% · GNTX (Gentex Corporation) USD 21.74 +3.52% · LKQ (LKQ Corporation) USD 22.47 +5.10% · LEA (Lear Corporation) USD 118.61 +0.61% · MBLY (Mobileye Global Inc.) USD 6.95 -1.00%

## More
Full page: https://nexqual.com/ATMU · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in ATMU's own 10-K filed 2026-02-13 (https://www.sec.gov/Archives/edgar/data/1921963/000192196326000015/atmu-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Stellantis (STLA) | "Atmus has a strong history as a supplier to leading OEMs, including Cummins, Daimler, Deere, Doosan, Foton, Komatsu, Paccar/DAF, the Traton Group, Stellantis and Volvo." |
| Customer | CUMMINS INC (CMI) | "Cummins is Atmus' largest customer and accounted for approximately 18.8% of Atmus' net sales in 2025." |
| Partner | Perfect Sealing Systems Private | "We also earn equity, royalty and interest income from our joint ventures in India — Fleetguard Filter Private Ltd. ("FFPL"), where we directly hold 49.491% of the economic interest (and 50% of the voting interest), and F…" |
| Partner | Shanghai Fleetguard Filter | "We earn equity, royalty and interest income from our joint venture in China — Shanghai Fleetguard Filter Co. Ltd., where we indirectly hold 50% of the economic interest." |
| Partner | Fleetguard Filter Private | "We also earn equity, royalty and interest income from our joint ventures in India — Fleetguard Filter Private Ltd. ("FFPL"), where we directly hold 49.491% of the economic interest (and 50% of the voting interest), and F…" |

Other companies that name ATMU in their own reports (relationship from ATMU's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| supplier | CUMMINS INC (CMI) | 10-K 2026-02-10 | "Worldwide revenues decreased by 1 percent in 2025 compared to 2024, mainly due to weaker demand in on-highway commercial truck markets and the divestiture of Atmus in the first quarter of 2024, partia…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Power Solutions | $485.5M | 92.0% | +7.1% |
| Industrial Solutions | $42.4M | 8.0% | — |
| Total revenue | $527.9M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Fuel | $223.7M | 42.4% | +14.6% |
| Lube | $95.7M | 18.1% | +2.9% |
| Product & Service Other | $85.8M | 16.3% | -2.3% |
| Air | $80.3M | 15.2% | +3.6% |
| Air Filtration | $42.4M | 8.0% | — |
| Total revenue | $527.9M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $288.4M | 54.6% | +31.1% |
| Other international | $239.5M | 45.4% | +2.6% |
| Total revenue | $527.9M | 100% | — |

## Customer concentration

Period ended 2025-12-31: 18.8%, 16.3% of revenue from unnamed direct customers (10-K, filed 2026-02-13).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.73 | $0.76 | -3.5% | $501.5M | 5 |
| Next quarter (ends 2026-12-31) | $0.74 | $0.74 | -0.0% | $505.1M | 5 |
| Current fiscal year (ends 2026-12-31) | $2.96 | $2.94 | +0.7% | $2.01B | 5 |
| Next fiscal year (ends 2027-12-31) | $3.28 | $3.21 | +1.9% | $2.11B | 5 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-06): ±11.8%; last 8 reports averaged ±7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 52.6% | ±11.8% |
| 2026-12-18 | 56 | 42.9% | ±13.5% |
| 2027-01-15 | 84 | 41.2% | ±15.8% |
| 2027-04-16 | 175 | 39.7% | ±21.6% |