Allison Transmission Holdings Inc financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Allison Transmission Holdings Inc files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,840	2,262	2,713	2,698	2,081	2,402	2,769	3,035	3,225	3,010
Cost of revenue	976	1,131	1,291	1,304	1,083	1,257	1,472	1,565	1,696	1,547
Gross profit	864	1,131	1,422	1,394	998	1,145	1,297	1,470	1,529	1,463
Research and development	88	105	131	154	147	171	185	194	200	174
Selling, general and administrative	324	342	368	356	317	305	328	357	336	380
Operating income	452	652	923	892	534	669	784	919	992	880
Interest income	0.7
Other non-operating income	2	-22	3	10	-4	19	-21	15	-6	16
Pre-tax income	341	527	805	768	393	572	645	827	897	804
Income tax	126	23	166	164	94	130	114	154	166	181
Net income	215	504	639	604	299	442	531	673	731	623
EBITDA	536	732	1,000	973	630	773	893	1,028	1,103	997
EPS, basic	1.28	3.38	4.81	4.95	2.62	4.13	5.53	7.48	8.40	7.42
EPS, diluted	1.27	3.36	4.78	4.91	2.62	4.13	5.53	7.40	8.31	7.33
Shares, basic (weighted)	168	149	133	122	114	107	96	90	87	84
Shares, diluted (weighted)	169	150	134	123	114	107	96	91	88	85
Dividend per share	0.60	0.60	0.60				0.84	0.92	1.00	1.08

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	205	199	231	192	310	127	232	555	781	1,495
Receivables	197	221	279	253	228	301	363	356	360	333
Inventory	126	154	170	199	181	204	224	276	315	316
Other current assets	17	25	45	42	37	39	47	63	82	89
Total current assets	548	632	725	686	756	671	866	1,250	1,538	2,233
Property, plant and equipment	464	448	466	616	638	706	763	774	803	862
Lease right-of-use assets				24	21	18	17	19	20	18
Goodwill	1,941	1,941	1,941	2,041	2,064	2,064	2,075	2,076	2,075	2,075
Intangible assets	1,242	1,153	1,066	1,042	963	917	878	833	822	794
Long-term investments					0	46	22	20	11	24
Other non-current assets	24	31	39	65	56	53	67	72	87	118
Total assets	4,219	4,205	4,237	4,450	4,477	4,457	4,671	5,025	5,336	6,082
Accounts payable	128	159	169	150	157	179	195	210	212	190
Accrued liabilities	52	73	81	87	47	80	72	89	90	34
Deferred revenue	27	41	34	35	34	37	38	41	41	34
Short-term debt	12	12	0	6	6	6	6	6	5	5
Total current liabilities	342	417	426	417	373	459	480	501	506	460
Long-term debt	2,147	2,534	2,523	2,512	2,507	2,504	2,501	2,497	2,395	2,885
Lease liabilities				18	17	13	13	14	14	13
Other non-current liabilities	233	181	172	221	260	227	163	159	152	160
Total liabilities	3,138	3,516	3,578	3,669	3,721	3,823	3,797	3,792	3,685	4,215
Total debt	2,188	2,576	2,548	2,544	2,538	2,531	2,525	2,518	2,414	2,909
Paid-in capital	1,728	1,758	1,788	1,802	1,818	1,832	1,848	1,891	1,940	1,960
Retained earnings	-586	-1,055	-1,100	-970	-974	-1,126	-953	-628	-239	-38
Other comprehensive income	-63	-15	-30	-52	-89	-73	-22	-31	-51	-56
Shareholders' equity	1,081	689	659	781	756	634	874	1,233	1,651	1,867
Total equity	1,081	689	659	781	756	634	874	1,233	1,651	1,867
Total liabilities and equity	4,219	4,205	4,237	4,450	4,477	4,457	4,671	5,025	5,336	6,082

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	215	504	639	604	299	442	531	673	731	623
Depreciation and amortization	84	80	77	81	96	104	109	109	111	117
Stock-based compensation	9	12	13	13	17	14	18	22	26	27
Deferred income tax	114	-50	52	65	69	64	-4	-17	-17	64
Change in receivables	-3	-19	-61	37	28	-78	-70	7	-8	34
Change in inventory	15	-25	-18	-11	21	-26	-25	-52	-44	3
Change in payables	2	30	9	-25	-4	24	15	21	1	-36
Cash from operations	591	658	837	847	561	635	657	784	801	836
Capital expenditures	-71	-91	-100	-172	-115	-175	-167	-125	-143	-175
Acquisitions		0	0	-232		0	-23	0	0
Purchases of investments	-1	-3	-3	-1	0	-41	0	0	0	-3
Cash from investing	-72	-94	-103	-405	-111	-212	-183	-129	-147	-184
Debt issued	1,000	400	0	1,148	1,000	0	0	0	0	500
Debt repaid	-1,215	-12	-28	-1,151	-1,019	-7	-7	-7	-104	-5
Stock issued	24	19	22	5	2	3	2	28	32	8
Share buybacks	-256	-885	-609	-393	-225	-513	-278	-263	-254	-328
Dividends paid	-100	-89	-80	-73	-78	-81	-80	-83	-87	-91
Cash from financing	-564	-574	-700	-480	-335	-604	-367	-332	-427	57
Exchange rate effect	-2	4	-2	-1	3	-2
Net change in cash	-47	-6	32	-39	118	-183	105	323	226	714
Free cash flow	520	567	737	675	446	460	490	659	658	661
Interest paid	78	124	115	125	136	103	117	131	124	120
Income taxes paid	13	96	101	89	26	60	102	194	190

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $113.86 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	36.4%	Gross profit / revenue.
Operating margin	19.6%	Operating income / revenue.
EBITDA margin	23.7%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	15.7%	Pre-tax income / revenue.
Net margin	12.0%	Net income / revenue.
FCF margin	16.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	21.3%	Cash from operations / revenue.
Effective tax rate	23.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	26.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.1%	Net income / average total assets.
Return on invested capital (ROIC)	11.6%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	4.5%	Research and development expense / revenue.
SG&A / revenue	11.7%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	4.6%	Capital expenditures / revenue.
D&A / revenue	4.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-6.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	2.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-4.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	4.1%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	8.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-11.3%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	3.9%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	10.5%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-9.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	3.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	9.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-14.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	5.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	15.8%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-11.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	9.8%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	22.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	4.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	8.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	8.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	0.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	10.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	8.2%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	8.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	8.7%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	13.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	28.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	19.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	14.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	9.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	6.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-3.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-4.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-5.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.81x	Current assets / current liabilities.
Quick ratio	0.99x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.30x	(Cash + short-term investments) / current liabilities.
Debt / equity	2.09x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	47.5%	Total debt / total assets.
Liabilities / assets	77.3%	Total liabilities / total assets.
Net debt	$3.74B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	3.59x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$1.07B	Current assets - current liabilities.
Goodwill and intangibles / assets	50.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$2.44B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.50x	Revenue / average total assets.
Fixed asset turnover	2.65x	Revenue / average property, plant and equipment.
Inventory turnover	3.33x	Cost of revenue / average inventory.
Days inventory	110 days	365 x average inventory / cost of revenue.
Receivables turnover	4.83x	Revenue / average receivables.
Days sales outstanding	76 days	365 x average receivables / revenue.
Days payables	105 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	80 days	Days inventory + days sales outstanding - days payables.
FCF conversion	139.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	21.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$6.30	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$52.40	Revenue / diluted weighted shares.
FCF per share	$8.77	Free cash flow / diluted weighted shares.
Operating cash flow per share	$11.18	Cash from operations / diluted weighted shares.
Book value per share	$23.56	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$29.05	Tangible book value / shares outstanding.
Cash per share	$4.75	(Cash + short-term investments) / shares outstanding.
Payout ratio	17.8%	Dividends paid / net income, when net income is positive.
Dividends / FCF	12.8%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	18.9%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$9.40B	Share price x shares outstanding.
Enterprise value	$13.14B	Market cap + total debt - cash - short-term investments.
P/E	17.8x	Market cap / net income. Only when net income is positive.
P/S	2.14x	Market cap / revenue.
P/B	4.75x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	12.8x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	10.0x	Market cap / cash from operations, when positive.
EV/Sales	2.99x	Enterprise value / revenue.
EV/EBIT	15.3x	Enterprise value / operating income, when both are positive.
EV/EBITDA	12.6x	Enterprise value / EBITDA, when both are positive.
EV/FCF	17.8x	Enterprise value / free cash flow, when both are positive.
FCF yield	7.8%	Free cash flow / market cap.
Earnings yield	5.6%	Net income / market cap (the inverse of P/E).
Dividend yield	1.0%	Dividends paid over the period / market cap.
Shareholder yield	2.5%	(Dividends paid + share buybacks) / market cap.
PEG	1.80x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Allison Transmission Holdings Inc's revenue in fiscal 2025?

Allison Transmission Holdings Inc reported revenue of $3.01B for fiscal 2025, 6.7% lower than the year before.

Was Allison Transmission Holdings Inc profitable in fiscal 2025?

Yes. Net income was $623.0M, a net margin of 20.7%.

How much free cash flow did Allison Transmission Holdings Inc generate in fiscal 2025?

Cash from operations of $836.0M minus capital expenditures of $175.0M left free cash flow of $661.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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