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Allison Transmission Holdings, Inc.

ALSN Consumer Cyclical Auto Parts

Allison Transmission Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.0 billion, down 6.67% from fiscal 2024.

Revenue
+121.4%
EPS
+41.1%
Free cash flow
+86.4%
Total debt
+67.3%

Quarter to September 2026, against a year earlier

116.48 4.04 −3.35%
Market cap
$9.6B
P/E
16.6×
Fwd P/E
13.1×
Dividend yield
0.98%
F-score
6/9
Altman Z
2.48
Beneish M
−2.81
Dividend safety
89/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by products and services Fiscal 2025

  • North America On-Highway
  • Service Parts, Support Equipment and Other
  • Outside North America On-Highway
  • Defense
  • Global Off-Highway
  • Engineering Services

Every year since 2014 →

Insider Decisions last twelve months

Sold, $m 5.98
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 — 1 1 — 1 — — 3 — — —
Insider Ownership 1.38%

Capital & Financial Ratios $m

Size
Market Cap 9,620.00
Revenue ttm 5,243.00
Net income ttm 583.00
Free cash flow ttm 831.00
Net debt Q 3,515.00
Valuation
P/E 16.59
Forward P/E 13.10
Price / sales 1.84
Forward P/S Powerpack
Price / FCF 11.64
Price / book 4.89
Financial health
Current ratio Q 1.77 (at or above 1.5: strong)
Debt / equity Q 1.93
Interest coverage Q 5.96
Growth
Revenue growth Q +121.36% (above 0%: growing)
Operating income growth Q +49.02% (above 0%: growing)
EPS, this year +10.56%
EPS, next year A +34.65% (at or above 15%: strong)
Revenue, next year A +97.31% (at or above 10%: strong)
EPS, past 5 yrs +22.85% (at or above 15%: strong)
EPS, next 5 yrs A +20.66% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.5×, against a ten-year median of 3.0×; over the ten years it ranged from 2.1× in 2022 to 4.5× in 2017.
P/E against its own 10 years 74.95%
10-year low 10-year high
P/S against its own 10 years 28.75%
10-year low 10-year high
P/B against its own 10 years 26.29%
10-year low 10-year high
EV/Sales against its own 10 years 18.01%
10-year low 10-year high
EV/FCF against its own 10 years 85.22%
10-year low 10-year high

Dividends raised 6 years running

Yield
0.98%
Annual rate
1.14
Payout ratio
16.4%
Growth, 2017–25
+7.62%/yr
  1. 0.60 ’17
  2. 0.60 ’18 +0
  3. 0.60 ’19 +0
  4. 0.68 ’20 +13
  5. 0.76 ’21 +12
  6. 0.84 ’22 +11
  7. 0.92 ’23 +10
  8. 1.00 ’24 +9
  9. 1.08 ’25 +8
  10. 1.17 ’26e +8
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 555 781 1,495 497
Receivables 356 360 333 882
Inventory 276 315 316 857
Other 63 82 89 258
1,250 1,538 2,233 2,494
2023 2024 2025 Q'26
Payables 210 212 190 803
ST’ Debt 6 5 5 20
Other 244 248 231 515
501 506 460 1,412

Compound Annual Growth %

10y 5y 3y
Sales 4.25% 7.66% 2.82%
Cash Flow 3.72% 8.31% 8.36%
Earnings 13.09% 15.81% 5.47%
Book Value 4.62% 19.82% 28.79%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 2.47 Actual 2.90

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.56 1.70 Beat by 0.14
Q1 FY26 2.54 2.57 Beat by 0.03
Q2 FY26 2.60 2.73 Beat by 0.13
Q3 FY26 2.47 2.90 Beat by 0.43
Q4 FY26 2.61 — Reports 22 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.33 2.15 2.30 — —
’25 2.23 2.29 1.63 1.18 7.33
’24 1.90 2.13 2.27 2.01 8.31
’23 1.85 1.92 1.76 1.91 7.40
’22 1.30 1.26 1.45 1.52 5.53
’21 1.07 1.01 0.89 1.15 4.13
’20 1.20 0.20 0.68 0.53 2.62
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,406 1,566 1,534 — —
’25 766 814 693 737 3,010
’24 789 816 824 796 3,225
’23 741 783 736 775 3,035
’22 677 664 710 718 2,769
’21 588 603 567 644 2,402
’20 637 377 532 535 2,081
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 156 312 343 — —
’25 181 184 228 243 836
’24 173 171 246 211 801
’23 193 141 212 238 784
’22 162 64 207 224 657
’21 131 140 196 168 635
’20 148 92 162 159 561
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 103 281 343 — —
’25 155 153 184 169 661
’24 162 153 211 136 662
’23 169 122 182 186 659
’22 142 34 182 134 492
’21 107 95 153 105 460
’20 127 64 127 128 446
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 3.2% a year for ten years. It grew 2.4% a year over the last ten.

Implied
3.2%
10 years, reported
2.4%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,840 2,262 2,713 2,698 2,081 2,402 2,769 3,035 3,225 3,010 5,243 +5.6% 5,939 6,188 6,508 +29.3%
Gross margin, % 46.96 50.00 52.41 51.67 47.96 47.67 46.84 48.43 47.41 48.60 33.93 +1.6 pt
EBT 341 527 805 768 393 572 645 827 897 804 745 +10.0%
EBT margin, % 18.53 23.30 29.67 28.47 18.89 23.81 23.29 27.25 27.81 26.71 14.21 +8.2 pt
Net income 215 504 639 604 299 442 531 673 731 623 583 +12.5%
Per share, $
Per share, $ Revenue 10.95 15.18 20.40 22.11 18.25 22.45 28.84 33.72 37.07 35.83 63.14 +14.1%
Earnings 1.28 3.38 4.81 4.95 2.62 4.13 5.53 7.48 8.40 7.42 7.02 +21.6%
Cash flow 3.52 4.42 6.29 6.94 4.92 5.93 6.84 8.71 9.21 9.95 12.69 +12.2%
Capex (0.42) (0.61) (0.75) (1.41) (1.01) (1.64) (1.72) (1.39) (1.60) (2.08) (2.69) +19.4%
Free cash flow 3.10 3.81 5.54 5.53 3.91 4.30 5.13 7.32 7.61 7.87 10.01 +10.9%
Book value 6.43 4.62 4.95 6.40 6.63 5.93 9.10 13.70 18.98 22.23 25.05 +14.8%
Shares, m 168 149 133 122 114 107 96 90 87 84 83 (7.4%)
Valuation, ×
Valuation, × P/E 26.45 12.79 9.13 9.78 16.46 8.78 7.47 7.64 12.86 13.28 16.59 12.5
P/S 3.09 2.89 2.15 2.19 2.36 1.62 1.44 1.69 2.92 2.73 1.84 2.3
P/B 5.26 9.49 8.86 7.55 6.50 6.13 4.56 4.16 5.69 4.40 4.89 6.3
EV/Sales 4.15 3.93 3.00 3.05 3.42 2.61 2.26 2.33 3.42 3.20 2.52 3.1
EV/FCF 14.70 15.67 11.05 12.18 15.96 13.64 12.72 10.74 16.65 14.55 15.87 13.8
Cash, $m
Cash, $m Operating cash flow 591 658 837 847 561 635 657 784 801 836 1,054 +3.9%
Capex (71) (91) (100) (172) (115) (175) (165) (125) (139) (175) (223) +10.5%
Free cash flow 520 567 737 675 446 460 492 659 662 661 831 +2.7%
Balance, $m
Balance, $m Working capital 206 215 299 269 383 212 386 749 1,032 1,773 1,082 +27.0%
Net debt 1,954 2,347 2,292 2,326 2,203 2,383 2,275 1,948 1,619 1,395 3,515 (3.7%)
Shareholders’ equity 1,081 689 659 781 756 634 874 1,233 1,651 1,867 2,080 +6.3%
Returns, %
Returns, % ROA 4.98 11.97 15.14 13.91 6.70 9.89 11.63 13.88 14.11 10.91 8.15 +5.9 pt
ROIC 9.31 13.42 19.55 17.94 11.28 13.86 15.56 18.06 18.96 16.86 10.74 +7.6 pt
ROE 18.95 56.95 94.81 83.89 38.91 63.60 70.42 63.88 50.69 35.42 29.74 +16.5 pt
People
People Employees 2,600 2,700 2,900 3,700 3,300 3,400 3,500 3,700 4,000 4,000 — +4.9%
Revenue/emp, $m 0.71 0.84 0.94 0.73 0.63 0.71 0.79 0.82 0.81 0.75 — +0.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Allison Transmission makes automatic transmissions and other propulsion systems for commercial vehicles, defense vehicles and industrial equipment. A transmission transfers power from an engine or motor to the wheels or other working parts of a machine. Allison’s products are used in vehicles and equipment ranging from school buses, refuse trucks and fire engines to mining trucks and military vehicles.

The company sells primarily to vehicle and equipment manufacturers, which install its products in their own vehicles. It also supplies the U.S. government and serves vehicle owners through a network of independent distributors and dealers. Alongside new equipment, Allison sells replacement parts, transmission fluids and remanufactured transmissions for vehicles already in use.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by products and services, and margins
North America On-Highway 1,540 51.16%
Service Parts, Support Equipment and Other 643 21.36%
Outside North America On-Highway 507 16.84%
Defense 267 8.87%
Global Off-Highway 53 1.76%
Engineering Services 10 0.33%
Gross margin 48.60%
Operating margin 29.24%
Pre-tax margin 26.71%

Revenue by segment since 2014

Allison Transmission Holdings, Inc. vs peers in Auto Parts (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
GPC Genuine Parts Company $17.2B 478× 20.3× +4.17% (above 0%: growing) 0.00% +4.99% (above 0%: growing) 38.09% 5.04% Compare
ALSN Allison Transmission Holdings, Inc. $9.6B 16.6× 13.1× +121.36% (above 0%: growing) +41.10% (above 0%: growing) +86.41% (above 0%: growing) 32.92% 19.82%
BWA BorgWarner Inc. $9.5B 19.5× 10.7× −2.90% (below 0%: shrinking) +58.48% (above 0%: growing) −28.20% (below 0%: shrinking) 18.98% 8.66% Compare
ALV Autoliv, Inc. $8.9B 14.8× 12.7× −0.48% (below 0%: shrinking) −6.99% (below 0%: shrinking) −18.30% (below 0%: shrinking) 18.42% 9.43% Compare
APTV Aptiv PLC $8.3B 11.3× 10.6× +2.30% (above 0%: growing) n/m −56.43% (below 0%: shrinking) 21.57% 8.78% Compare
AUR Aurora Innovation, Inc. $8.1B — (loss-making) — (loss-making) +200.00% (above 0%: growing) n/m −31.21% (below 0%: shrinking) (166.67%) (8,566.67%) Compare
LEA Lear Corporation $5.5B 10.0× 9.1× +1.64% (above 0%: growing) +35.64% (above 0%: growing) −48.40% (below 0%: shrinking) 6.62% 3.41% Compare
LKQ LKQ Corporation $5.2B 20.7× 10.6× −5.14% (below 0%: shrinking) n/m −3.88% (below 0%: shrinking) 37.24% 1.60% Compare
MOD Modine Manufacturing Company $4.9B 38.4× 22.6× +34.58% (above 0%: growing) −32.53% (below 0%: shrinking) −222.95% (below 0%: shrinking) 20.66% 9.84% Compare
Median of peers $8.2B 19.5× 10.7× +1.97% 0.00% −29.70% 19.82% 6.85%

All 55 Auto Parts stocks →

From the latest earnings call

Updated

  • CEO David Graziosi said defense demand and pricing supported Allison Transmission sales, while the acquired Off-Highway business saw growth in construction, material handling and mining.
  • CFO Scott Mell said higher material costs compressed transmission margins, with the company recovering a substantial portion from customers after a 6- to 12-month lag.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Citi Nov 3, 2026 Upgrade Buy 135.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 102.99%
Held by the ten largest 49.03%
Holder Shares Stake Change
Fidelity (FMR) 12.42m 15.04% −33.39k
Vanguard 8.39m 10.16% −170.22k
BlackRock 3.98m 4.81% +187.01k
Boston Partners 3.18m 3.85% +319.92k
FULLER & THALER ASSET MANAGEMENT, INC. 2.62m 3.18% −772.53k
LSV ASSET MANAGEMENT 2.20m 2.66% +66.37k
Geode Capital Management 2.03m 2.46% −176.29k
RENAISSANCE TECHNOLOGIES LLC 1.94m 2.35% −321.40k
Dimensional Fund Advisors 1.92m 2.32% +15.66k
LONDON CO OF VIRGINIA 1.82m 2.21% −80.69k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 25 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 8.03m (423.91k) 246.04
2024 12.33m 40.31m 268.48
2023 10.33m 18.80m 142.82
2022 9.20m 11.99m 100.39
2021 8.53m 5.09m 85.92
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Allison Transmission Holdings, Inc. (ALSN) Latest News

4 Nov

Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.

3 Nov

Impact 3 · · Investing.com
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Impact 3 · · Moby
Impact 3 · · GuruFocus.com

2 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · MarketBeat transcript
Impact 3 · · Associated Press
Impact 3 · · Zacks
Impact 3 · · StockStory
Impact 3 · · PR Newswire

28 Oct

Impact 3 · · Zacks

26 Oct

Impact 3 · · Zacks

23 Oct

Impact 4 · · PR Newswire

13 Oct

Impact 3 · · Zacks

8 Oct

Impact 3 · · StockStory

7 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Zacks

6 Oct

Impact 3 · · Zacks

5 Oct

Impact 3 · · StockStory

2 Oct

Impact 3 · · PR Newswire

25 Sep

Impact 3 · · StockStory

15 Sep

Impact 4 ·

11 Aug

Impact 3 ·

10 Aug

Impact 4 · · The Motley Fool transcript

3 Aug

Impact 3 ·
Impact 3 · · MarketBeat
Impact 3 ·

ALSN metrics, ten years each

stockrow.com/ALSN · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com