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Auto parts · Consumer Cyclical · Fiscal year ends Dec 31
Allison Transmission reported revenue of $3B in the fiscal year ended Dec 2025, down 6.7% from the year before. Operating income was $880M, an operating margin of 29.2%, and net income was $623M. Operating cash flow of $836M less capital expenditure of $175M left free cash flow of $661M. Net debt was $1.4B.
Ranks among the 17 auto parts companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 2,402 | 2,769 | 3,035 | 3,225 | 3,010 |
| Cost of revenue | 1,257 | 1,472 | 1,565 | 1,696 | 1,547 |
| Gross profit | 1,145 | 1,297 | 1,470 | 1,529 | 1,463 |
| Research & development | 171 | 185 | 194 | 200 | 174 |
| Selling, general & admin | 305 | 328 | 357 | 336 | 380 |
| Operating income | 669 | 784 | 919 | 992 | 880 |
| Net interest incomeBanks | −116 | −118 | −107 | −89.0 | −92.0 |
| Pre-tax income | 572 | 645 | 827 | 897 | 804 |
| Income tax | 130 | 114 | 154 | 166 | 181 |
| Net income | 442 | 531 | 673 | 731 | 623 |
| Diluted EPS | 4.13 | 5.53 | 7.40 | 8.31 | 7.33 |
| Diluted shares | 107 | 96.0 | 91.0 | 88.0 | 85.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 127 | 232 | 555 | 781 | 1,495 |
| Receivables | 301 | 363 | 356 | 360 | 333 |
| Inventory | 204 | 224 | 276 | 315 | 316 |
| Current assets | 671 | 866 | 1,250 | 1,538 | 2,233 |
| Net PP&E | 706 | 763 | 774 | 803 | 862 |
| Goodwill | 2,064 | 2,075 | 2,076 | 2,075 | 2,075 |
| Total assets | 4,457 | 4,671 | 5,025 | 5,336 | 6,082 |
| Payables | 179 | 195 | 210 | 212 | 190 |
| Deferred revenue | 37.0 | 38.0 | 41.0 | 41.0 | 34.0 |
| Current liabilities | 459 | 480 | 501 | 506 | 460 |
| Short-term debt | 6.0 | 6.0 | 6.0 | 5.0 | 5.0 |
| Long-term debt | 2,504 | 2,501 | 2,497 | 2,395 | 2,885 |
| Total liabilities | 3,823 | 3,797 | 3,792 | 3,685 | 4,215 |
| Shareholders' equity | 634 | 874 | 1,233 | 1,651 | 1,867 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 635 | 657 | 784 | 801 | 836 |
| Capital expenditure | 175 | 167 | 125 | 143 | 175 |
| Free cash flow | 460 | 490 | 659 | 658 | 661 |
| Depreciation & amortisation | 104 | 109 | 109 | 111 | 117 |
| Stock-based compensation | 14.0 | 18.0 | 22.0 | 26.0 | 27.0 |
| Share buybacks | 513 | 278 | 263 | 254 | 328 |
| Dividends paid | 81.0 | 80.0 | 83.0 | 87.0 | 91.0 |
| Dividend per share | – | 0.84 | 0.92 | 1.00 | 1.08 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 15.3% | 9.6% | 6.3% | −6.7% |
| Operating income growth (YoY) | – | 17.2% | 17.2% | 7.9% | −11.3% |
| EPS growth (YoY) | – | 33.9% | 33.8% | 12.3% | −11.8% |
| Gross margin | 47.7% | 46.8% | 48.4% | 47.4% | 48.6% |
| Operating margin | 27.9% | 28.3% | 30.3% | 30.8% | 29.2% |
| Net margin | 18.4% | 19.2% | 22.2% | 22.7% | 20.7% |
| Return on equityBlank when equity is negative | 69.7% | 60.8% | 54.6% | 44.3% | 33.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 16.7% | 18.7% | 20.3% | 20.5% | 15.7% |
| Free cash flow margin | 19.2% | 17.7% | 21.7% | 20.4% | 22.0% |
| Cash conversion (CFO ÷ net income) | 1.44x | 1.24x | 1.16x | 1.10x | 1.34x |
| Receivable days | 46 | 48 | 43 | 41 | 40 |
| Inventory days | 59 | 56 | 64 | 68 | 75 |
| Payable days | 52 | 48 | 49 | 46 | 45 |
| Debt ÷ equity | 3.96x | 2.87x | 2.03x | 1.45x | 1.55x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 2,383 | 2,275 | 1,948 | 1,619 | 1,395 |
| Current ratio | 1.46x | 1.80x | 2.50x | 3.04x | 4.85x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.