ALSNAllison Transmission Holdings Inc

Motor Vehicle Parts & Accessories

Revenue: $3.0B; 6.7% YoY
Operating margin: 29.2%; 5.0% YoY
EBITDA: $997M; 9.6% YoY
Market cap: $19.6B
Employees: 4,000; $753K revenue each
Net debt / EBITDA: 2.5×; $2.5B net debt
AI in 10-K: 0.2; mentions per 10K words

Takeover score 1 of 13

Fixable underperformance 0 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
134% of net income
Cash flow under 80% of net income
Dilutive SBCNo
1% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
50% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
32% of assets
Over 40% of assets
Shareholder dissentNo
96% lowest support
Any vote under 80% support

Buyer economics 1 of 4

Low revenue per employeeNo
$753K · 80th pct
Bottom quartile of its SIC industry
Quiet on AIYes
0.2 per 10K words · 11th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
2.5× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$19.6B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$6M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$2.4B	$2.8B	$3.0B	$3.2B	$3.0B	6.7%
Operating income	$669M	$784M	$919M	$992M	$880M	11%
Net income	$442M	$531M	$673M	$731M	$623M	15%
Operating cash flow	$635M	$657M	$784M	$801M	$836M	4.4%
Capex	$175M	$167M	$125M	$143M	$175M	22%
Stock-based comp	$14M	$18M	$22M	$26M	$27M	3.8%
Buybacks	$513M	$278M	$263M	$254M	$328M	29%
Dividends	$81M	$80M	$83M	$87M	$91M	4.6%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $0 · 0
Open-market sells, 12 mo: $6M · 12
Net: −$6M

Pay vs performance

No pay-versus-performance disclosure yet.