Atmus Filtration Technologies Inc. (ATMU)

Industry: Industrial - Pollution & Treatment Controls Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
VLTO	1	Veralto Corporatio	5,452	29.16	29.16	20.51	20.51	21.11	21.69
7004.T	2	Kanadevia Corp	3,947	7.70	5.78	5.73	4.91	-	8.54
6370.T	3	Kurita Water Indus	2,644	24.59	22.78	6.56	5.73	9.49	10.16
FSS	4	Federal Signal Cor	2,055	30.63	25.80	18.64	15.84	19.38	18.82
AQUA	5	Evoqua Water Techn	1,858	79.39	61.15	20.37	17.77	75.56	86.99
0586.HK	6	China Conch Ventur	1,836	3.56	3.66	7.68	5.62	11.32	9.53
ATMU	7	Atmus Filtration T	1,724	18.53	18.53	12.79	12.79	12.38	14.33
MTRS.ST	8	Munters Group AB (	1,665	68.78	67.28	12.05	10.07	15.50	14.75
ZWS	9	Zurn Elkay Water S	1,659	40.78	39.17	22.01	21.94	25.11	30.20
1296.HK	10	Guodian Technology	1,649	-	-	6.42	7.68	11.24	13.12
600388.SS	11	Fujian Longking Co	1,593	19.78	19.36	14.83	13.99	14.60	19.67
6368.T	12	Organo Corporation	1,091	16.47	12.49	11.50	8.89	15.15	9.46
300390.SZ	13	Canmax Technologie	955	-	-	90.20	96.49	40.75	-
6332.T	14	Tsukishima Kikai C	916	7.10	5.40	3.25	2.51	16.90	9.83
603279.SS	15	Jingjin Equipment	799	14.94	13.93	8.43	7.76	14.50	9.09
603408.SS	16	Runner (Xiamen) Co	702	12.63	12.10	11.29	11.34	12.00	11.17

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	16.47	13.93	11.29	8.89	14.88	10.67
Full Range Median Multiple	19.78	19.36	11.50	10.07	15.33	12.15
Industry Multiple	27.35	24.47	17.30	16.74	21.61	19.50
Market Implied Multiple	23.30	23.30	15.78	15.78	15.28	17.69
Company (ATMU) Multiple	18.53	18.53	12.79	12.79	12.38	14.33
(*) Net Income / EBITDA / Revenue	200	200	317	317	328	283
Winsorized Enterprise Value	N/A	N/A	3,580	2,820	4,873	3,020
Full Range Median Enterprise Value	N/A	N/A	3,648	3,193	5,021	3,439
(-) Net Debt	359	359	359	359	359	359
Winsorized Equity Value	3,286	2,779	3,221	2,460	4,514	2,661
Full Range Median Equity Value	3,945	3,862	3,289	2,834	4,661	3,080
(/) Shares Outstanding	82	82	82	82	82	82
Winsorized Fair Value	$40.07	$33.89	$39.28	$30.00	$55.05	$32.45
Full Range Median Fair Value	$48.12	$47.10	$40.11	$34.56	$56.85	$37.56
Current Price	$56.68	$56.68	$56.68	$56.68	$56.68	$56.68
Upside / Downside	-29.30%	-40.20%	-30.69%	-47.06%	-2.87%	-42.75%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$28.05	$23.73	$27.50	$21.00	$38.54	$22.71
Buy / Don't Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy