ATMU
Atmus Filtration Technologies Inc.
$47.23
Stable Earnings Power
80%
P/Adj-EPS × Normalized Multiple
Moderate
·
Conviction
Undervalued
Trading 27.3% below fair value
You pay
$47.23
Bear
$55.00
Fair
$65.00
Bull
$75.00
Bear
$55.00
+16.5%
$2.50 × 22x P/E
Fair
$65.00
+37.6%
$2.50 × 26x P/E
Bull
$75.00
+58.8%
$2.50 × 30x P/E
Adjust Assumptions
26.0x
2.5$
Key Value Driver
Normalized P/E multiple (26x base case)
Implied Market Multiple
18.9x
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (5 analysts)
$56.00
Divergence from AlphaVal
16%
Summary
Applying a 26x P/E to adjusted EPS of $2.50, the base-case value is $65.00 per share.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples