Latest Ratios: P/E Ratio 20.8x · EV/EBITDA 14.4x · 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 | $4.2B | $4.3B | $3.3B | $2.0B | — | — | — |
| Enterprise Value | $4.6B | $4.6B | $3.7B | $2.4B | — | — | — |
| P/E Ratio → | 20.80 | 20.76 | 17.65 | 11.46 | — | — | — |
| P/S Ratio | 2.41 | 2.44 | 1.96 | 1.20 | — | — | — |
| P/B Ratio | 11.38 | 11.36 | 14.40 | 24.28 | — | — | — |
| P/FCF | 28.54 | 28.89 | 57.67 | 13.68 | — | — | — |
| P/OCF | 20.95 | 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 | 14.37 | 14.53 | 12.79 | 8.96 | — | — | — |
| EV / EBIT | 15.86 | 16.04 | 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% | 32.7% | 34.7% | 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 | 0.02 | 0.06 |
| Debt / EBITDA | 1.79 | 1.79 | 2.17 | 2.32 | 0.14 | 0.04 | 0.13 |
| Net Debt / Equity | — | 0.88 | 1.97 | 5.67 | 0.07 | 0.02 | 0.06 |
| Net Debt / EBITDA | 1.05 | 1.05 | 1.54 | 1.70 | 0.14 | 0.04 | 0.13 |
| Debt / FCF | — | 2.24 | 7.88 | 3.20 | 0.25 | 0.06 | 0.15 |
| Interest Coverage | 8.65 | 8.65 | 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 | 0.4% | 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 | 4.8% | 4.8% | 5.7% | 8.7% | — | — | — |
| FCF Yield | 3.5% | 3.5% | 1.7% | 7.3% | — | — | — |
| Buyback Yield | 1.4% | 1.4% | 0.6% | 0.0% | — | — | — |
| Total Shareholder Yield | 1.8% | 1.8% | 0.9% | 0.0% | — | — | — |
| Shares Outstanding | — | $83M | $84M | $83M | $83M | $83M | $83M |
ICE market transition exposure
Based on current market data, ATMU trades at a forward P/E of 18.35, which appears to discount the company relative to peers like Donaldson Company, suggesting investors remain cautious regarding the long-term durability of its internal combustion engine-focused revenue streams in an increasingly electrified industrial landscape.
The valuation gap compared to broader industrial filtration peers suggests the market is applying a 'terminal value' discount to ATMU's ICE-centric portfolio. While the forward EV/EBITDA of 9.55 indicates a more attractive entry point than historical averages, this multiple may be justified if the company fails to diversify its product mix before the anticipated decline in heavy-duty diesel engine demand.
As reported in financial statements, ATMU's ROIC has fluctuated between 6.0% and 9.5% over the last ten quarters, indicating that the company is currently struggling to consistently generate returns that meaningfully exceed its cost of capital during its initial phase as an independent, publicly traded entity.
The volatility in ROIC appears driven by the ongoing integration of standalone corporate functions and the absorption of separation-related costs. Investors should monitor whether management can improve capital allocation efficiency as the business matures, particularly as the recent increase in goodwill suggests a pivot toward inorganic growth strategies.
According to recent quarterly filings, ATMU's cash conversion cycle has shown significant variability, peaking at 88 days in 2025Q4, which highlights the operational challenges of managing inventory and receivables independently without the historical support of its former parent company's integrated supply chain and distribution network.
The elevated DIO and DSO metrics suggest that the company may be carrying excess inventory to mitigate supply chain risks, which directly impairs free cash flow conversion. This inefficiency warrants further investigation to determine if these levels are structural or merely a temporary byproduct of the post-separation transition period.
Based on the latest balance sheet data, ATMU has successfully reduced its debt-to-equity ratio from a peak of 7.76 in 2023Q4 to 2.47 in 2026Q1, demonstrating a disciplined approach to deleveraging that provides the firm with significant financial optionality for future strategic acquisitions or internal R&D investments.
The current interest coverage ratio of 5.41 suggests that debt service remains manageable, even in a higher-rate environment. This fortress-like balance sheet posture appears intended to reassure investors of the company's stability as it navigates the cyclical nature of the heavy-duty industrial equipment market.
The P/E ratio is frequently misapplied to ATMU because it fails to account for the significant non-recurring separation costs and stock-based compensation that currently depress reported net income, thereby obscuring the underlying cash-generating power of the company's high-margin aftermarket filtration business model.
Analysts should instead focus on EV/EBITDA or FCF yield to better normalize for the company's capital structure and the cash-heavy nature of its aftermarket replacement cycle. Relying solely on P/E risks misinterpreting the firm's true earning potential during this critical transition phase from a subsidiary to an independent entity.
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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 20.8x. The historical average is 16.6x. This places it at the 100th percentile of its historical range.
Atmus Filtration Technologies Inc.'s current EV/EBITDA is 14.4x. 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 20.8x. This is at the 100th 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 0.40% 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.