Atmus Filtration Technologies Inc.

atmus.com

What Do They Do?

Designs and manufactures fuel, lube and air filters for vehicle and equipment makers and operators.

How Do They Make Money?

Atmus sells products through long-term arrangements or standalone purchase orders, usually shipping under agreed terms; payment is generally due within 60 days or less of invoicing.

revenue

Segment	Share	How money arrives
Fuel Products Sold outright	45% FY2022: 43%	Sold outright
Lube Sold outright	20% FY2022: 20%	Sold outright
Air Sold outright	17% FY2022: 17%	Sold outright
Other Sold outright	18% FY2022: 20%	Sold outright

Who Are Their Customers?

Vehicle and equipment makers buy first-fit products directly; end users can buy replacement products through OEM dealers, independent distributors and retailers. Atmus also works directly with large fleets and mining companies.

Customers above 10% of revenue, FY2025

of revenue from three customers (19%, 16%, 12%)

FY2023: 45% from three customers

Do Revenues Turn Into Profits?

Yes. It kept 12 cents of every revenue dollar as net income in FY2025 and turned 8 cents into free cash flow.

Operating income, FY2025

17% of revenue

▲ +12% vs FY2024 ($266.2M, 16%)

Net income, FY2025

12% of revenue

▲ +12% vs FY2024 ($185.6M, 11%)

Free cash flow, FY2025

8% of revenue

▲ +162% vs FY2024 ($56.8M, 3%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +16%; vs $453.5M in Q2 FY2025
Net income: ▲ +7%; vs $59.9M in Q2 FY2025

Aug 7, 2026 Acquired Koch Filter and raised full-year guidance Koch Filter contributed to quarterly sales; full-year net sales guidance rose to $1,975 million to $2,030 million and adjusted earnings per share to $2.85 to $3.00.

Growing. Revenue grew 23% in 4 years, from $1.4B in FY2021 to $1.8B in FY2025, about 5% a year.

Revenue over time

Fuel Products Lube Air Other

$2B$1B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with MANN+HUMMEL, Donaldson, Parker, and MAHLE

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