Atmus Filt. Tech.

Atmus gets 18.8% of 2025 sales from Cummins, the company it spun out of. That's one awkward family dinner.

If you own this stock, you need to know one customer still matters a lot.

atmu

industrials · filtration mid cap updated mar 6, 2026
$63.59
market cap ~$5B · 52-week range $31–$66
xvary composite: 71 / 100 · average
our overall rating — combines growth, value, risk, and momentum
Start here if you're new
what it is
It makes filtration parts, coolants, and chemicals that keep engines and industrial machines from clogging up.
how it gets paid
Last year Atmus Filt. Tech made $1.8B in revenue. Air filtration was the main engine at $0.55B, or 31% of sales.
why it's growing
Revenue grew 5.7% last year. EDGAR showed quarterly revenue of $1.3B, up 194% vs. prior year, and EPS of $1.91, up 189% vs. prior year.
what just happened
Atmus posted $1.3B in quarterly revenue and $1.91 of EPS.
At a glance
B++ balance sheet — above average — nothing keeping you up at night
25.4x trailing p/e — priced about right
0.4% dividend yield — cash in your pocket every quarter
18.5% return on capital — nothing to write home about
xvary composite: 71/100 — average
What they do
It makes filtration parts, coolants, and chemicals that keep engines and industrial machines from clogging up.
Fleetguard sells in roughly 150 countries. That gives your replacement parts a 150-country checkout lane. But 18.8% of 2025 sales still came from Cummins, so the old parent still leaves fingerprints on the business.
energy mid-cap aftermarket industrial acquisition
How they make money
$1.8B annual revenue · their business grew +5.7% last year
Air filtration
$0.55B
Fuel filtration
$0.40B
Lubrication filtration
$0.33B
Coolants
$0.28B
Chemical products
$0.24B
The products that matter
engine and equipment filtration
Filtration Products
$1.8B revenue · entire business today
this is the whole company for now: $1.8B in revenue, +5.7% growth compared to last year, and a 12.3% net margin. if demand slips here, there is nowhere else to hide yet.
100% of sales
industrial air filtration expansion
Koch Filter
$450M cash acquisition
management paid $450M in cash to add a new industrial solutions leg. that's the diversification pitch in one number.
new segment
next-gen filter platform
NanoNet N3
commercial launch in 2025
the company says the 2025 launch gained traction with OEM customers. if that keeps translating into wins, you get proof that growth is not just an acquisition story.
first-fit push
Key numbers
$81
target price
That is 27% above the current $63.59 price, so the market is not pricing a disaster.
$1.8B
annual revenue
A $1.8B business is still small enough that one customer can move the whole number.
21.0%
op margin
At 21.0%, Atmus keeps a lot of each sales dollar before interest and taxes.
18.5%
roc
Return on capital at 18.5% says the business turns invested money into profit better than average.
Financial health
B++
strength
  • balance sheet grade B++ — above average financial health
  • risk rank 3 — safer than 50% of stocks
  • price stability 65 / 100
  • long-term debt $540M (9% of capital)
  • net profit margin 12.3% — keeps 12 cents of every dollar in revenue
  • return on equity 19% — $0.19 profit for every $1 investors have put in
B++ — functional but not a standout on the balance sheet.
Total return vs. market

Return history isn't available for ATMU right now.

same standard. no invented return math.

source: institutional data · return history unavailable
What just happened
beat estimates
Atmus posted $1.3B in quarterly revenue and $1.91 of EPS.
EDGAR showed quarterly revenue of $1.3B, up 194% vs. prior year, and EPS of $1.91, up 189% vs. prior year. Gross margin held at 28.1%, so the bigger sales base still kept plenty of profit.
$1.3B
revenue
$1.91
eps
28.1%
gross margin
the number that mattered
Revenue was $1.3B, and that is the number that tells you the business is far larger than last year.
source: company earnings report, 2026

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What could go wrong

the top risk is koch filter integration after a $450M cash deal.

!
high
koch filter integration
Atmus paid $450M in cash to add industrial air filtration and create a new segment. If the acquisition adds cost faster than revenue, the diversification story gets weaker instead of stronger.
impact: the deal is large enough to matter against a $1.8B revenue base and 11.8% recent quarterly margin
!
high
combustion-engine dependence
The core business still leans on filters for combustion engines. Management benefited from demand for larger vehicles in 2025, but that is not a forever tailwind. If vehicle mix shifts the other way, the core business has less help.
impact: this exposure still sits under most of the current $1.8B revenue stream
∘
med
trade and industrial demand swings
The filings point to trade and regulatory exposure, and the snapshot does not give a neat segment split to measure it. That thinness matters. When the data is thin, you should assume sensitivity is real even if the exact exposure is not disclosed here.
impact: margin pressure matters because the business keeps 12.3 cents of each revenue dollar, not 30
Atmus is no longer just a steady filter story. It is now a steady filter story plus a $450M integration test. If revenue does not approach the $2B estimate or margins slip after the deal, the stock's 25.4x trailing multiple has less support.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
the path from $1.8B to $2B
that revenue bridge is the cleanest test of whether the core business and Koch Filter are both pulling their weight.
calendar
next earnings report
you want two things at once: proof that the legacy filtration business still grows and clues on what the new industrial solutions segment contributes.
risk
integration costs versus margin
11.8% quarterly margin is a useful baseline. if that slips while management talks up synergies, read the numbers, not the adjectives.
trend
oem wins from NanoNet N3
the product launch matters only if it turns into repeat placements. one or two mentions are nice. a pattern is better.
Analyst rankings
short-term outlook
top 5%
momentum score 1 is the highest rank. in human-speak, analysts think this stock has stronger near-term price action than almost everything else they cover.
risk profile
average
stability score 3 means the risk sits near the middle of the pack. not especially safe. not especially chaotic.
chart momentum
below average
technical score 4 says the chart has cooled even though the short-term fundamental rank looks strong. narrative and price are not saying the same thing right now.
source: institutional data
Institutional activity

110 buyers vs. 86 sellers in 4q2025. total institutional holdings: 83.3M shares.

source: institutional data · 2q2025-4q2025
source: institutional data
Price targets
3-5 year target range
$53 $108
$64 current price
$81 target midpoint · +27% from current · 3-5yr high: $95 (+50% · 11% ann'l return)
source: institutional data · analyst targets

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