ALSN on NYSE

Allison Transmission

Logo: Allison Transmission, Inc., Public domain, via Wikimedia Commons5

American manufacturer of commercial duty automatic transmissions

Allison Transmission Holdings, Inc. is an American manufacturer of commercial duty automatic transmissions and hybrid propulsion systems. Allison products are specified by over 250 vehicle manufacturers and are used in many market sectors, including bus, refuse, fire, construction, distribution, military, and specialty applications. With headquarters in Indianapolis, Indiana, Allison Transmission has a presence in more than 150 countries and manufacturing facilities in Indianapolis, Chennai, India, and Szentgotthárd, Hungary.3 It was founded by James A. Allison.1 Its shares trade on NYSE under the symbol ALSN.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1916Founded1

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  • TickerALSN on NYSE1
  • IndustryMotor Vehicle Parts & Accessories1
  • HeadquartersIndianapolis1
  • Founded inIndianapolis1
  • Websitewww.allisontransmission.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business addressOne Allison Way, Indianapolis, In 462226
  • Filer categoryLarge accelerated filer6
  • LEI529900RP7DJ882LI9T834
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressc/o THE CORPORATION TRUST COMPANY, CORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 43756874
Allison EP50 transmission
Photo: Resaleking at English Wikipedia, Public domain, via Wikimedia Commons9

Allison Transmission Holdings, Inc. is an American manufacturer of commercial duty automatic transmissions and hybrid propulsion systems. Allison products are specified by over 250 vehicle manufacturers and are used in many market sectors, including bus, refuse, fire, construction, distribution, military, and specialty applications.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

48.6%Gross margin10
29.2%Operating margin10
20.7%Net margin10
-6.7%Revenue growth, 202510
33.4%Return on equity10
1.55×Debt to equity10
$661.0MFree cash flow10

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

North America On Highway brought in 51% of the revenue Allison Transmission broke down this way in fiscal 2025.

  1. North America On Highway$1.5B1051%down 12% from 2024
  2. Service Parts Support Equipment And Other$643.0M1021%down 3% from 2024
  3. Outside North America On Highway$507.0M1017%up 3% from 2024
  4. Defense$267.0M109%up 26% from 2024
  5. Global Off-Highway$53.0M102%down 50% from 2024
  6. Engineering Services$10.0M100%up 0% from 2024
Products and services by year
Products and services202320242025
North America On Highway$1.5B$1.8B$1.5B
Service Parts Support Equipment And Other$696.0M$663.0M$643.0M
Outside North America On Highway$477.0M$493.0M$507.0M
Defense$166.0M$212.0M$267.0M
Global Off-Highway$167.0M$105.0M$53.0M
Engineering Services$26.0M$10.0M$10.0M

Regions

United States brought in 71% of the revenue Allison Transmission broke down this way in fiscal 2025.

  1. United States$2.1B1071%down 8% from 2024
  2. Other Countries$389.0M1013%up 9% from 2024
  3. China$138.0M105%down 20% from 2024
  4. Canada$105.0M103%up 42% from 2024
  5. Japan$92.0M103%down 32% from 2024
  6. TR$59.0M102%up 44% from 2024
  7. Mexico$53.0M102%down 27% from 2024
  8. Germany$42.0M101%down 11% from 2024
Regions by year
Regions202320242025
United States$2.2B$2.3B$2.1B
Other Countries$391.0M$358.0M$389.0M
China$164.0M$172.0M$138.0M
Canada$65.0M$74.0M$105.0M
Japan$102.0M$136.0M$92.0M
TR$42.0M$41.0M$59.0M
Mexico$51.0M$73.0M$53.0M
Germany$49.0M$47.0M$42.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue51¢$1.5B
  • Research and development6¢$174.0M
  • Selling, general and admin13¢$380.0M
  • Other costs3¢$105.0M
  • Income tax6¢$181.0M
  • Profit21¢$623.0M

Out of $3.0B in revenue.10

Where each dollar of operating cash went, fiscal 2025

  • Capital spending21¢$175.0M
  • Dividends paid11¢$91.0M
  • Share buybacks39¢$328.0M
  • Kept or used elsewhere29¢$242.0M

Out of $836.0M of cash from operations.10

Financial statements

Revenue1112131410$3.0B in 2025+12% since 2019
0$1.0B$2.0B$3.0B$4.0B2019: $2.7B$2.7B20192020: $2.1B$2.1B2020−23%2021: $2.4B$2.4B2021+15%2022: $2.8B$2.8B2022+15%2023: $3.0B$3.0B2023+10%2024: $3.2B$3.2B2024+6%2025: $3.0B$3.0B2025−7%
Gross profit1112131410$1.5B in 2025+5% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $1.4B$1.4B20192020: $998.0M$998.0M2020−28%2021: $1.1B$1.1B2021+15%2022: $1.3B$1.3B2022+13%2023: $1.5B$1.5B2023+13%2024: $1.5B$1.5B2024+4%2025: $1.5B$1.5B2025−4%
Operating income1112131410$880.0M in 2025−1% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $892.0M$892.0M20192020: $534.0M$534.0M2020−40%2021: $669.0M$669.0M2021+25%2022: $784.0M$784.0M2022+17%2023: $919.0M$919.0M2023+17%2024: $992.0M$992.0M2024+8%2025: $880.0M$880.0M2025−11%
Net income1112131410$623.0M in 2025+3% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $604.0M$604.0M20192020: $299.0M$299.0M2020−50%2021: $442.0M$442.0M2021+48%2022: $531.0M$531.0M2022+20%2023: $673.0M$673.0M2023+27%2024: $731.0M$731.0M2024+9%2025: $623.0M$623.0M2025−15%

Every line of the income statement as filed: the last 3 fiscal years, latest first.10

Period ending2025-12-312024-12-312023-12-31
Net sales$3.0B$3.2B$3.0B
Cost of sales$1.5B$1.7B$1.6B
Gross profit$1.5B$1.5B$1.5B
Selling, general and administrative$380.0M$336.0M$357.0M
Engineering - research and development$174.0M$200.0M$194.0M
Loss associated with impairment of long-lived assets$29.0M$1.0M$0
Operating income$880.0M$992.0M$919.0M
Interest expense, net-$92.0M-$89.0M-$107.0M
Other income (expense), net$16.0M-$6.0M$15.0M
Income before income taxes$804.0M$897.0M$827.0M
Income tax expense-$181.0M-$166.0M-$154.0M
Net income$623.0M$731.0M$673.0M
Basic earnings per share attributable to common stockholders$7.42$8.40$7.48
Diluted earnings per share attributable to common stockholders$7.33$8.31$7.40
Foreign currency translation$17.0M-$13.0M$2.0M
Pension and OPEB liability adjustment-$17.0M-$1.0M-$7.0M
Interest rate swaps-$5.0M-$6.0M-$4.0M
Total other comprehensive (loss) income, net of tax-$5.0M-$20.0M-$9.0M
Comprehensive income, net of tax$618.0M$711.0M$664.0M

Compare Allison Transmission with another company

Corporate structure

Allison Transmission sits at the top of its group. 2 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Allison Transmission

  • Allison Transmission Indianapolis, Indiana, United States
    • ALLISON TRANSMISSION INDIA PRIVATE LIMITED Subsidiary · Kancheepuram, India

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Allison Transmission reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Construction in progress$119.0M10 Dec 31, 2025$73.0M10 Dec 31, 2024+63.0%
Property and equipment, before depreciation$2.2B10 Dec 31, 2025$2.1B10 Dec 31, 2024+6.9%
Accumulated depreciation$1.4B10 Dec 31, 2025$1.3B10 Dec 31, 2024+6.6%
Property and equipment, net$862.0M10 Dec 31, 2025$803.0M10 Dec 31, 2024+7.3%
Operating-lease assets (leased space)$18.0M10 Dec 31, 2025$20.0M10 Dec 31, 2024−10.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.5B10 Dec 31, 2025$781.0M10 Dec 31, 2024+91.4%
Marketable securities, non-current$24.0M10 Dec 31, 2025$11.0M10 Dec 31, 2024+118.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$2.1B10 Dec 31, 2025$2.1B10 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$794.0M10 Dec 31, 2025$822.0M10 Dec 31, 2024−3.4%
Accumulated amortization$1.4B10 Dec 31, 2025$1.4B10 Dec 31, 2024+0.4%

Inventory

ItemLatestA year beforeChange
Inventory, total$316.0M10 Dec 31, 2025$315.0M10 Dec 31, 2024+0.3%
Work in process$19.0M10 Dec 31, 2025$17.0M10 Dec 31, 2024+11.8%
Finished goods$68.0M10 Dec 31, 2025$79.0M10 Dec 31, 2024−13.9%

Properties, in its own words

Our world headquarters, which we own, is located at One Allison Way, Indianapolis, Indiana 46222. As of December 31, 2025, we have 17 manufacturing and certain other facilities in eight countries. The following table sets forth certain information regarding our significant facilities as of December 31, 2025.

Plant · Location · ApproximateSize (ft2) · Owned /Leased · Description

The rest of Item 2

Plant #3 · Indianapolis · 927,000 · Own · Engineering, Operational Support

Plant #4 · Indianapolis · 425,900 · Own · Manufacturing

Plant #6 · Indianapolis · 431,500 · Own · Manufacturing

Plant #12 · Indianapolis · 534,900 · Own · Manufacturing

Plant #14 · Indianapolis · 481,100 · Own · Manufacturing

Plant #15 · Indianapolis · 391,700 · Own · Manufacturing

Plant #17 · Indianapolis · 389,000 · Own · Parts Distribution Center

Innovation Center · Indianapolis · 96,000 · Own · Engineering, Research and Development

Vehicle Electrification + Environmental Test (VE+ET) Center · Indianapolis · 66,000 · Own · Research and Development

Auburn Hills · Auburn Hills, Michigan, USA · 110,400 · Lease · Engineering, Operational Support, Manufacturing

Walker Die Casting · Lewisburg, Tennessee, USA · 774,100 · Own · Manufacturing

Chennai · India · 551,551 · Own · Manufacturing

Szentgotthard · Hungary · 149,000 · Own · Manufacturing & Customization

In addition, in connection with the acquisition of the Acquired Off-Highway Business, effective as of January 1, 2026, we acquired approximately 46 additional manufacturing and assembly plants and approximately 30 other facilities located in 24 countries.

We believe all our facilities are suitable for their intended purpose, are being efficiently utilized and provide adequate capacity to meet demand for the next several years. The table above does not include sales offices located in various countries.

Item 2 of the 10-K filed Feb 24, 2026.18

The story

Founded by James A. Allison in 1916, in Indianapolis.1

History

Racing team

Allison began in 1909 when James A. Allison, along with three business partners, helped fund and build the Indianapolis Motor Speedway. In 1911, Allison's new track held the first Indianapolis 500 mile race. In addition to funding several race teams, James Allison founded the Speedway Racing Team Company on September 14, 1915 and quickly gained a reputation for his work on race cars and automotive technology in general. Allison built a shop near the track and changed the team's name to the Allison Experimental Company; the shop later became Plant No. 1.

Wartime aviation

When World War I began, Allison suspended racing, and the Allison Experimental Company began machining parts, tools, and masters for the Liberty airplane engine — the main power plant used in the U.S. war effort. After the war, Allison entered a car in the 1919 Indy 500 and won. It was the last race Allison's team ever entered as he turned his company's attention to aviation engineering, renaming it to Allison Engineering Company; the aviation-focused company developed steel-backed bronze sleeve bearings for the crankshaft and connecting rods, and high-speed reduction gearing to turn propellers and Roots-type blowers.

General Motors purchased the company on April 1, 1929 following James Allison's death in 1928. Shortly after, Allison engineers began work on a 12-cylinder engine to replace the aging Liberty engines. The result was the V1710 12-cylinder aircraft engine and it made the company, renamed to the Allison Division of GM in 1934, also known as the Allison Engine Company, a major force in aviation. Plant 3 was built in 1939, a 360,000 ft2 (33,000 m2) factory to build V1710 engines. Due to demand during World War II, Allison would add a second factory (Plant 5) and 23,000 new employees; by the end of the war, Allison had built 70,000 V1710 engines.

Early transmission development

Alongside the development and production of the V1710, engineers at GM began designing the CD-850 cross-drive steering transmission for tracked military vehicles in 1941; the design was completed in 1944 and Allison was awarded the contract to manufacture the prototypes. In February 1945, General Motors formed the Allison Transmission Engineering Section, dividing the subsidiary into Aircraft Operations and Transmission Operations in 1946. The CD-850 combined range change, steering and braking. Allison stopped producing the CD-850 in 1986, but a licensed version was produced in Spain for more than a decade afterward.

General Motors began developing automatic transmissions with a hydraulic torque converter in the 1930s under its Product Study Group, offering it as an option for Oldsmobile for the first time in 1940. After World War II, Allison Transmission turned its attention to civilian transportation. Allison designed, developed and manufactured the first-ever automatic transmissions for heavy-duty vehicles including delivery trucks, city buses, and railcars, starting from 1948. In addition, Allison marketed transmissions for off-highway heavy-duty vehicles under the brand Powershift TORQMATIC, with the first TG series transmissions being produced in July 1948.

The Allison 850-series torque converter was a crucial component in the post-war development of self-propelled railcars, most notably the Budd Rail Diesel Car, which first went into service in 1950. Pairing with a GM Series 110 "pancake" diesel engine mounted under the railcar floor enabled the entire power system to be kept outside the car body, making the full length of the car available for revenue. The torque converter enabled unprecedented rates of acceleration before locking into direct drive.

V-Drive

At approximately the same time the CD-850 was going into production, GMC Truck and Coach Division requested that GM develop a V-Drive transmission with a torque converter in 1945 for transit bus use, replacing the Spicer manual transmission then offered. These buses had rear-mounted engines and to maximize passenger space, the engine compartment was minimized; the V-Drive transmission was named for the 63° angle of intersection between the transmission shaft input (from the engine) and output (to the rear axle). Development of the V-Drive transmission was led by Bob Schaefer, an emigrant from Germany who had joined GM in 1942 after helping to lead the Twin Disc Company, which was one of the licensees of the Ljungstroms hydraulic torque converter. Schaefer was reassigned from the Detroit Transmission Division to Allison in 1946.

The first production V-Drive transmissions were delivered in October 1947, with the first major contract being for 900 buses in 1948, for New York City. The VS-2 was introduced in 1955, which added a two-speed input splitter; a version with both hydraulic and direct clutches was introduced in 1958 (VH), and production of the original V-Drive transmissions was concluded in July 1976, with 65,389 produced.

Read the full text

Commercial transmissions

In addition to the transit bus market, Allison began developing automatic transmissions for commercial trucks in 1953. This effort resulted in the MT-25, which designated the intended application ("M"edium "T"rucks) and maximum input power, 250 hp (190 kW). The MT-25 was a 6-speed automatic, using a two-speed high/low splitter and three-speed double planetary gear train. The splitter was equipped with a hydraulic retarder. Because of the additional cost of the automatic transmission, sales were initially slow until Allison began targeting specific markets that required both on- and off-road driving as well as frequent stops and starts, such as concrete mixing and garbage trucks in the early 1960s. The MT-25 was fitted first as an option branded Powermatic by Powermatic, exclusive to that brand for the first year, but was soon offered by other truck manufacturers including Ford (1957), Reo (1958), Dodge (1958), Diamond T (1959), White (1961), and International Harvester (1961); production of the MT-25 continued into the early 1970s.

The MT-25 was supplemented in September 1970 by a second-generation lighter-duty automatic transmission, the four-speed AT-540, which Allison developed jointly with Hydramatic Division in the late 1960s; the AT-540 was targeted specifically for on-highway use and shared similarities with automobile transmissions to reduce the cost penalty to equip on-highway trucks with automatic transmissions. Later, the MT-25 itself was replaced by the MT-640 and a heavier-duty version, the HT-740, was introduced; the new MT and HT were both derived from the AT-540. As an option, the MT-6nn and HT-7nn series transmissions could be equipped with a lower fifth gear for severe off-road conditions. In 1970, GM combined the Allison and Detroit Diesel divisions as the Detroit Diesel Allison Division of GM.

The 500-series transmissions (AT-540, etc.) were rated to accept input power of up to 235 hp (175 kW) and were intended for vehicles up to 30,000 lb (14,000 kg) gross vehicle weight (GVW). The medium-duty 600-series had increased ratings to 300 hp (220 kW) and 73,280 lb (33,240 kg) GVW, while the heavy-duty 700-series were rated to 445 hp (332 kW) and 80,000 lb (36,000 kg) GVW. In 1976, a 700-series V-Drive transmission was introduced for buses, the V730. The AT/MT/HT were still being produced in 1998.

Allison also produced off-highway transmissions in the 1960s, starting with the "Dual Path Powershift" DP 8000 series. The first electronic controls were fitted to the off-highway DP 8000 series transmission in 1971. Electronic controls (branded the Allison Transmission Electronic Control or ATEC system) were added to the MT/HT/V730 in 1983, improving fuel economy by more precisely controlling shifts.

World Transmission

The third-generation six-speed World Transmission (WT) was introduced in 1991, replacing the second-generation AT/MT/HT/V730 lines. Development of the WT had begun in the mid-1980s, prior to the sale of Detroit Diesel to Roger Penske in 1987. The WT used the WT electronic control (WTEC) system to control the internal clutches during shifting, equipped with a control unit that adapts to variations during use. The WT line was split into MD (medium duty), HD (heavy duty, introduced in 1993), and B (T-drive buses) lines; the MD and HD lines were later renamed to the 3000 and 4000 Series, respectively.

As of 1998 in the United States, Allison had built 92% of the transmissions in school buses; 75% of transit bus transmissions, 65% of heavy-duty garbage truck transmissions, and 32% of all medium-duty truck transmissions.

Allison followed the WT (3000 and 4000 Series) line with the 1000 and 2000 Series starting in 1999. The 1000 Series transmission incorporated many features from the WT line for light-duty trucks, including the electronic control system, and was initially available as an option with the 6.6L GM/Isuzu Duramax diesel engine and the 8.1L Vortec gasoline engine for the trucks based on the GMT800 platform.

In 2007, GM sold Allison Transmission to private equity firms Carlyle Group and Onex Corporation for US$5.6 billion.

Timeline

1940s

1949—Allison begins production of CD-850 tank transmission, division's most historically significant transmission

December 1949—First rail car transmission is produced; installed in the Budd Rail Car

1950s

1954—First off-highway transmissions (CRT-5530/CRT-3330)

1955—Allison develops the MT-25/POWERMATIC transmission for on-highway use with Chevrolet

1960s

October 1960—First Allison XT-1410-2 transmission is produced

June 1961—Allison announces MT Series transmissions

July 1962—Allison TT-2000 Hydro Powershift transmission is introduced

March 1965—Introduction of dual path DP-8000, largest single-package Allison Powershift transmission to date

November 1966—Lithium-chlorine fuel cell is unveiled

June 1967—Allison begins production of new DP-8960 for large off-highway trucks

October 1967—First prototype of the Allison-equipped U.S. Army main battle tank is unveiled in Washington, D.C.

February 1969—Allison introduces electric gearshift control system for off-highway vehicles

July 1969—Apollo 11 astronauts make man's first landing on the Moon; propellant tanks built by Allison are part of the Service Module

1970s

September 1970—Merge with Detroit Diesel Engine to form Detroit Diesel Allison Division, headquarters in Detroit, Michigan

January 1971—Allison introduces first 4-speed automatic transmission for 72,000 lb (33,000 kg). GVW highway vehicles; Allison model HT-740

April 1973—First fully automatic transmission for large trucks, scrapers and other types of heavy-duty off-highway vehicles is introduced; Allison model CLBT 750

1974—First European office is established

1980s

October 1982—A new generation heavy-duty automatic transmission, the Allison DP 8962, is announced; incorporates over 15 new technology internal changes

May 1983—GM sells Allison Gas Turbine Division; Allison becomes part of newly formed GM Power Products and Defense Operations Group

June 1986—First X200 military transmission is released

December 1987—Detroit Diesel Allison becomes Allison Transmission, Division of General Motors

1990s

February 1991—Allison introduces electronically controlled World Transmissions

November 1995—Allison adopts lean manufacturing principles and begins implementing Allison Production System (APS), a cellular manufacturing system; some 10,000 machines and support equipment are re-arranged through all plants

1999--Hybrid bus program is demonstrated for New York City Transit Authority

June 1999—Allison introduces 1000 Series and 2000 Series fully automatic transmissions

2000s

2000--Hybrid electric program is launched

September 2000—Test Track 2000 is first customer ride and drive simulating real-world operating conditions; held at Walt Disney World in Orlando, Florida

January 2001—Allison unveils first-of-its-kind parallel hybrid technology

November 2003—Allison's Ultimate Truck Driving Adventure takes ride and drive experience to extremes in the high desert of Nevada

November 2003—Allison Vocational Models are released to better serve specific applications

May 2005--Shanghai Customization Center is opened

June 2007—GM announced that it was selling Allison Transmission to private equity firms The Carlyle Group and Onex Corporation, in a deal valued at $5.6 billion. The transaction closed on August 7, 2007.

2008—Allison introduces on-board prognostics on model-year 2009 automatic transmissions

2009—Allison took an approximately 10% stake in UK-based Torotrak manufacturer of Infinitely Variable Transmission (IVT).

2010s

2010-Manufacturing plant opened in Chennai, India also establishing regional headquarters with executive, marketing and sales offices

June 2010-Allison dedicates a new hybrid manufacturing plant in Indianapolis, Indiana.

March 15, 2012 Initial public offering of 26.3 million shares of Allison Transmission stock at $23/share on the New York Stock Exchange under the symbol ALSN.

October 27, 2013 Allison 10-speed TC10 transmission available for order at Navistar

Current revenues were at $1.985 Billion a decrease from 2014.

From Wikipedia’s article on Allison Transmission, shared under CC BY-SA 4.0.7

Leadership

Who has led Allison Transmission, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (44)

Products and brands

Allison markets its transmissions by vocational series according to the intended use; for example, the Tractor Series is sold for and installed in Class 8 tractors, while the Motorhome Series is marketed to manufacturers of recreational vehicles. A transmission is given a designation specific to the vocational series, but is otherwise identical mechanically to other transmissions sold for other vocational series; for example, the Bus Series B210 / B220 / B295 transmissions are also sold with identical gearing as:

Collectively, these are grouped into the 1000/2000 Series transmission family; transmissions within a family share the same basic dimensions, power input capabilities, and weight. Allison transmission families include the 1000/2000 Series, 3000 Series, 4000 Series, 5000 Series, 6000 Series, 8000 Series, 9000 Series, and Tractor Series. Each transmission family is given a generational designation based on the electronic control system; parts generally are not interchangeable between generations within a specific family:

Gen 1 / Gen 2 (a.k.a. World Transmission or World Transmission Electronic Controller (WTEC) / WTEC II) —1991–98

Gen 3 — 1998–2004/05

Read the full text

Gen 4 — 2004/05–2012

Gen 5 — 2012–present

Hybrid bus series

First generation

GM-Allison introduced hybrid vehicle technology for transit buses in 2003. Allison hybrid transit bus products were initially branded as the Allison Electric Drives EP System, which included the following components:

EV Drive Unit – integrating the Generator and Electric Motor in the diagram

Inverter (Dual Power Inverter Module, DPIM) – integrating the Charger and Converter in the diagram

Battery (Energy Storage System, ESS, or Energy Storage Unit)

Hybrid Control Modules (Transmission Control Module, TCM; and Vehicle Control Module, VCM)

Allison characterizes the system as the "Two-Mode Compound Split Parallel Hybrid Architecture". As installed in buses, the EP System has two operating modes or speed ranges, with the changeover generally occurring between 15 and 25 mph (24 and 40 km/h). Under full-throttle, the vehicle's initial launch in the low-speed mode is boosted by the output motor. As vehicle speed increases, the input motor begins to dominate, resulting in nearly total mechanical output only. Through 2011, GM intended to introduce 16 passenger car and truck hybrid models based on the Allison split-mode system. The primary benefit of the Allison hybrid system is in recapturing kinetic energy during regenerative braking and storing it as electrical energy, which can later be converted back to kinetic energy through an output motor, which assists in accelerating the vehicle, reducing demand on the engine and consequently fuel consumption. Fuel economy is improved by up to 60%, and acceleration can also be improved compared to a conventional bus.

To the operator, the hybrid system is automatic and requires no special training. Under normal in-motion operation, engine speed is controlled by the TCM, which commands a torque and speed point based on the needs of the hybrid system. During startup and shutdown, the TCM commands only a speed requirement.

The EV Drive Unit is installed in lieu of a conventional transmission and acts as a continuously variable transmission controlled electronically; it integrates two motor-generators (MG-A and MG-B, on the input and output, respectively), three planetary gear sets (P1, P2, and P3), one rotating clutch (C2), and one stationary clutch (C1). From the engine, power is transferred to the input shaft through a torque damper instead of the conventional torque converter found in an automatic transmission. The input shaft is coupled to the main shaft and MG-A through the first planetary gearset (P1), and MG-A is coupled to MG-B through another planetary gearset (P2). MG-B is coupled to the output shaft through a third planetary gearset (P3) and the stationary (C1) and rotating (C2) clutches. Both motors are three-phase AC induction motors and automatically switch from motoring to generation when the mechanical rotation frequency exceeds the stator field frequency.

There are two drive units available (EP40 or H 40 EP; and EP50 or H 50 EP). The H40 is intended for regular transit bus use, while the H50 is for articulated and suburban coaches, similar in size and application to the B400 and B500 Bus Series transmissions, respectively. The H40 has a continuous input capacity of 280 hp (210 kW) and 910 lb⋅ft (1,230 N⋅m) of torque, while the respective H50 input limits are 330 hp (250 kW) and 1,050 lb⋅ft (1,420 N⋅m).

The DPIM includes an inverter for each motor; the continuous and peak output are 160 and 300 kW, respectively. The ESS uses nickel-metal hydride batteries, air-cooled using internal fans, and weighs approximately 915 lb (415 kg). The ESS is made of three sub-strings wired in parallel with a storage capacity of 450 A and 624 VDC. Each sub-string uses two 312 V sub-packs in series, which are made of 40 7.8-volt modules. Six battery control information modules (BCIM) monitor temperature, one in each sub-pack. The DPIM and ESS have been improved since the initial introduction, and newer models generally can replace earlier units. In addition, newer installations include a DC-DC converter, a solid-state device that converts the high-voltage traction motor energy to 12/24V accessory power.

As of 2008, there are more than 2,700 GM-Allison hybrid buses operating in 81 cities in the U.S., Canada and Europe. This includes:

Translink (Vancouver)

Dresden, Germany

King County Metro Transit Authority

Massachusetts Bay Transportation Authority

Minneapolis-Saint Paul Metro Transit

Regional Transportation Commission of Southern Nevada

SEPTA

Washington Metropolitan Area Transit Authority

Regional Transportation District Denver

Maryland Transit Administration

Indianapolis Public Transportation Corporation

Chicago Transit Authority

Second generation

Allison introduced its second-generation eGen Flex diesel-electric hybrid drive unit in 2022, partnering with Gillig; the first units will be delivered to IndyGo, serving Indianapolis. eGen Flex is available as multiple models, designated eGen Flex 40, 40 CertPlus, 40 Max, or 40 Max CertPlus (equivalent to the H 40 in physical size, input, and output capabilities); or the eGen Flex 50, 50 CertPlus, 50 Max, or 50 Max CertPlus (equivalent to the H 50). The "Max" models are capable of operating on electric power alone for up to 10 mi (16 km), depending on the axle ratio and duty cycle.

Electric axles

In 2020, Allison introduced a line of motor-integrated electric axles, branded eGen Power. The first model, 100D, was designated for its gross axle weight rating (GAWR) of 10.4 t (23,000 lb) and (D)ual electric motors; 100D has a continuous and peak power output of 424 and 648 kW (569 and 869 hp), respectively, with a maximum torque of 46,800 N⋅m (34,500 lbf⋅ft). In 2021, Allison expanded the range with the 100S (a single-motor variant of the 100D, with continuous and peak power output of 212 and 324 kW (284 and 434 hp), respectively and a maximum 23,500 N⋅m (17,300 lbf⋅ft) of torque) and the 130D (a variant of the 100D with a higher 13 t (29,000 lb) GAWR for the European and Asia Pacific markets).

The Allison eGen Power integrated axle also includes a multi-speed gearbox to optimize both launch and cruising speeds; it was designed to be a drop-in replacement for existing axles for medium- and heavy-duty trucks and buses, allowing more flexibility in battery placement.

Current products (Gen 5)

Notes

Off-highway

The model designations for off-highway transmissions marketed under the Powershift TORQMATIC brand were in the format AAAA 1234, where:

For example, the TT 2220 was a twin-turbine 2000 series automatic transmission with two forward speeds and a maximum input torque capacity of 250 lb⋅ft (340 N⋅m).

On-highway

First Generation

Allison V transmission—VH, VH2, VH4, VH5, VH6, VH7, VH9, VS1, VS2-6, VS2-8

Allison MT transmission—MT25, MT30, MT31, MT40, MT41, MT42

Allison HT transmission—HT70

Second Generation

Allison M and MH marine reverse and reduction gear

Allison AT transmission—AT540, AT542, AT543, AT545 (4 speeds)

Allison MT transmission—MT640, MT643, MT644, MT647, MT648, MT650, MT653DR, MT654CR, MTB643, MTB644, MTB647, MTB648, MTB653DR, MTB654CR

Allison HT transmission—HT740D, HT740RS, HT741, HT746, HT747, HT748, HTB748, HT750CRD, HT750DRD, HT754CRD, HT755CRD, HT755DRD, HTB755CRD, HTB755DRD

Allison V transmission—V730, V731, VR731, VR731RH

Third Generation

Allison World Transmission (MD and HD)—MD3060, MD3060P, MD3560, MD3560P, MD3066, MD3066P, HD4060, HD4060P, HD4560, HD4560P

From Wikipedia’s article on Allison Transmission, shared under CC BY-SA 4.0.7

Subsidiaries and ownership

Owners

Subsidiaries (Exhibit 21)

  • Allison Transmission, Inc. Delaware8

From Wikidata.1 The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Allison Transmission Holdings IncAug 28, 2007 to Sep 2, 20266

Timeline

  1. Aug 3, 20268-K Results of operations71
  2. Jun 16, 20268-K Entered a material agreement; Regulation FD disclosure72
  3. May 8, 20268-K Executive or director change; Shareholder vote73
  4. May 4, 20268-K Results of operations74
  5. Mar 16, 20268-K Financial statements and exhibits75
  6. Feb 23, 20268-K Results of operations76
  7. Jan 2, 20268-K Entered a material agreement; Completed an acquisition or sale; New debt or obligation77
  8. Nov 24, 20258-K Entered a material agreement; New debt or obligation78
  9. Nov 7, 20258-K Other events79
  10. Nov 4, 20258-K Regulation FD disclosure80
  11. Oct 31, 20258-K Regulation FD disclosure81
  12. Oct 29, 20258-K Results of operations82
  13. Jun 4, 2018New chief executive David S. Graziosi becomes CEO19
  14. Mar 14, 2012New chief executive Lawrence E. Dewey becomes CEO20
  15. 1916Founded Founded in Indianapolis1

Calendar

Coming up

  1. Nov 4, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $1.63 a share, on Oct 29, 2025.83

When it reported results

  1. Aug 3, 2026Reported quarterly or annual results71
  2. May 4, 2026Reported quarterly or annual results74
  3. Feb 23, 2026Reported quarterly or annual results76
  4. Oct 29, 2025Reported quarterly or annual results82
  5. Aug 4, 2025Reported quarterly or annual results84
  6. May 1, 2025Reported quarterly or annual results85
  7. Feb 11, 2025Reported quarterly or annual results86
  8. Oct 29, 2024Reported quarterly or annual results87

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

851 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 44 major events, 677 insider forms, 19 large holders, 91 other. The latest 20:

  1. Sep 2, 20264 EDGAR
  2. Sep 2, 20264 EDGAR
  3. Sep 2, 20264 EDGAR
  4. Sep 2, 20264 EDGAR
  5. Sep 2, 20264 EDGAR
  6. Sep 2, 20264 EDGAR
  7. Sep 2, 20264 EDGAR
  8. Sep 2, 20264 EDGAR
  9. Sep 2, 20264 EDGAR
  10. Sep 2, 20264 EDGAR
  11. Sep 2, 20264 EDGAR
  12. Sep 2, 20264 EDGAR
  13. Sep 2, 20264 EDGAR
  14. Aug 25, 20264 EDGAR
  15. Aug 21, 2026144 EDGAR
  16. Aug 13, 20264 EDGAR
  17. Aug 11, 2026144 EDGAR
  18. Aug 11, 20264 EDGAR
  19. Aug 10, 2026144 EDGAR
  20. Aug 5, 202610-Q EDGAR

The 851 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

84 open-market trades by officers, directors and large owners since October 2021: 3 buys and 81 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 21, 2026Graziosi David S.Chair, President and CEOSale26,708$132.98$3.6MForm 4
Aug 11, 2026Scroggins Eric C.CLO & Asst. SecretarySale1,050$125.00$131.2KForm 4
Aug 10, 2026Bohley G FrederickSee RemarksSale3,961$122.38$484.7KForm 4
May 8, 2026Mell Scott ACFO & TreasurerSale2,270$125.00$283.8KForm 4
Mar 9, 2026Scroggins Eric C.CLO & Asst. SecretarySale1,313$114.40$150.2KForm 4
Feb 13, 2026Bohley G FrederickSee RemarksSale10,348$116.40$1.2MForm 4
Dec 31, 2025Coll JohnSVP, Global MSSSale1,791$98.79$176.9KForm 4
Sep 30, 2025Coll JohnSVP, Global MSSSale1,788$84.32$150.8KForm 4
Aug 14, 2025Bohley G FrederickSee RemarksBuy3,000$88.50$265.5KForm 4
Aug 14, 2025Bohley G FrederickSee RemarksBuy3,000$89.50$268.5KForm 4
Jun 30, 2025Coll JohnSVP, Global MSSSale1,788$94.69$169.3KForm 4
May 21, 2025Milburn Ryan A.VP, Engr. & Tech Dev.Sale3,412$105.24$359.1KForm 4
May 7, 2025Scroggins Eric C.CLO & Asst. SecretarySale5,358$98.05$525.4KForm 4
Apr 1, 2025Coll JohnSVP, Global MSSSale1,788$95.33$170.4KForm 4
Mar 6, 2025Milburn Ryan A.VP, Engr. & Tech Dev.Sale4,546$96.20$437.3KForm 4
Feb 27, 2025van Niekerk TeresaVP, Chief Procurement OfficerSale8,191$101.09$828.0KForm 4
Feb 26, 2025Milburn Ryan A.VP, Engr. & Tech Dev.Sale793$100.00$79.3KForm 4
Feb 25, 2025Milburn Ryan A.VP, Engr. & Tech Dev.Sale662$98.54$65.2KForm 4
Dec 31, 2024Coll JohnSVP, Global MSSSale2,000$108.40$216.8KForm 4
Nov 29, 2024Graziosi David S.Chair, President and CEOSale11,590$119.44$1.4MForm 4

All 84 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025David S. GraziosiChair, President and Chief Executive Officer60$1.1M$8.0M95
2025G. Frederick BohleyPresident and Business Unit Leader Allison Transmission and Allison Chief Operating Officer57$645.0K$3.0M95
2025Scott A. MellChief Financial Officer and Treasurer l54$411.6K$1.9M95
2025John M. CollSenior Vice President, Allison Transmission Global Marketing, Sales and Service and Allison Corporate and Government Affairs$531.3K$1.6M95
2025Eric C. ScrogginsChief Legal Officer and Assistant Secretary55$419.5K$1.1M95
2024David S. GraziosiChair, President and Chief Executive Officer60$1.1M$12.3M95
2024G. Frederick BohleyPresident and Business Unit Leader Allison Transmission and Allison Chief Operating Officer57$617.4K$4.4M95
2024John M. CollSenior Vice President, Allison Transmission Global Marketing, Sales and Service and Allison Corporate and Government Affairs$520.8K$2.8M95
2024Eric C. ScrogginsChief Legal Officer and Assistant Secretary55$387.7K$1.7M95
2023David S. GraziosiChair, President and Chief Executive Officer60$1.0M$10.3M95
2023G. Frederick BohleyPresident and Business Unit Leader Allison Transmission and Allison Chief Operating Officer57$604.6K$3.7M95
2023John M. CollSenior Vice President, Allison Transmission Global Marketing, Sales and Service and Allison Corporate and Government Affairs$507.6K$2.6M95
2023Eric C. ScrogginsChief Legal Officer and Assistant Secretary55$364.2K$1.5M95

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Fmr LLC12,417,518$1.4B0.1%−33,393
Vanguard Portfolio Management LLC3,985,544$449.3M0.0%−203,367
BlackRock, Inc.3,975,802$448.2M0.0%+187,009
Vanguard Capital Management LLC3,742,337$421.9M0.0%+28,642
Boston Partners3,176,528$358.2M0.3%+319,918
Fuller & Thaler Asset Management, Inc.2,622,104$295.6M0.8%−772,531
Geode Capital Management, LLC2,027,981$228.7M0.0%−176,287
Renaissance Technologies LLC1,938,997$218.6M0.3%−321,400
Dimensional Fund Advisors LP1,917,523$216.2M0.0%+15,663
London Co Of Virginia1,824,581$205.7M1.2%−80,692
First Trust Advisors LP1,806,631$203.7M0.1%−219,972
State Street Corp1,538,166$173.4M0.0%+14,927
Wasatch Advisors LP1,510,496$170.3M1.1%+776,169
Stockbridge Partners LLC1,499,984$169.1M3.6%+469,586
Bank Of Montreal /can/1,364,810$153.9M0.1%−187,398
Norges Bank1,255,365$141.5M0.0%New
Federated Hermes, Inc.1,236,388$139.4M0.2%−5,089
Aqr Capital Management LLC1,130,415$127.4M0.0%−105,017
Charles Schwab Investment Management Inc877,339$98.9M0.0%−7,320
Morgan Stanley851,524$96.0M0.0%+192,501
Capital International Investors845,961$95.4M0.0%New
Captrust Financial Advisors825,467$93.1M0.1%+9,734
Qube Research & Technologies Ltd824,567$93.0M0.1%+320,083
Quantinno Capital Management LP767,275$86.5M0.1%−100,512
FIFTHDELTA Ltd760,474$85.7M10.1%+297,600

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Allison Transmission is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAllison Transmission Holdings Inc2
  • CIK0001411207
  • Employer ID (EIN)26-041401418
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company18
  • Incorporated inDelaware18
  • Fiscal year endsDecember 312
  • Industry code (SIC)3714 Motor Vehicle Parts & Accessories2
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance2
  • Business addressOne Allison Way, Indianapolis, IN 462222
  • Phone(317) 242-50002
  • Shares outstanding82,578,038 as of Jul 22, 202616
  • Public float$7.9B as of Jun 30, 202518
  • AuditorPricewaterhouseCoopers LLP, Indianapolis, Indiana PCAOB ID 238; it also attests to the company’s internal control over financial reporting18
  • On EDGAR sinceAug 28, 20072
  • Filings2,412 in all: 4 (1,833), 8-K (172), 144 (69), 3 (53), 10-Q (44), SC 13G/A (39), 4/A (27), DEFA14A (19)2
    All 38 form types

    CORRESP (16), 10-K (14), DEF 14A (14), UPLOAD (14), SC 13G (13), SD (13), SC 13D/A (12), 424B3 (8), S-1/A (8), ARS (7), FWP (7), 8-K/A (4), 5 (3), SCHEDULE 13G/A (3), PRE 14A (2), S-8 (2), SC 13D (2), SCHEDULE 13G (2), 144/A (1), 3/A (1), 424B1 (1), 424B7 (1), 8-A12B (1), CERTNYS (1), EFFECT (1), POS EX (1), REGDEX (1), S-1 (1), S-3ASR (1), S-8 POS (1)

  • Latest filingsAnnual report (10-K) Feb 24, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) Mar 25, 2026
    Latest 8-K (8-K) Aug 3, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.01 par valueALSNNew York Stock Exchange

From the cover page of the 10-K filed Feb 24, 2026 (Section 12(b) of the Exchange Act).18

Risk factors and legal proceedings

The risks Allison Transmission names in Item 1A of its 10-K filed Feb 24, 2026: 35 risks under these headings, as written.18

  • Risks Related to Our Business and Operations
  • We participate in markets that are competitive, and our competitors’ actions could have a material adverse effect on our business, results of operations and financial condition.
  • Volatility in and disruption to the global economic environment may have a material adverse effect on our business, results of operations and financial condition.
  • Increases in cost, disruption of supply or shortage of raw materials or components used in our products could harm our business and profitability.
  • Prolonged inflation could result in higher costs and decreased margins and earnings.
  • Labor cost inflation and employee attraction and retention could have an adverse effect on our business, results of operations and financial condition.
  • Certain of our end users operate in highly cyclical industries, which can result in uncertainty and significantly impact the demand for our products, which could have a material adverse effect on our business, results of operations and financial condition.
  • In 2025, our sales were concentrated among our top five OEM customers. The loss or consolidation of any one of these customers or the discontinuation of particular vehicle models for which we are a significant supplier could reduce our net sales and have a material adverse effect on our results of operations and financial condition.
  • Labor unrest could have an adverse effect on our business, results of operations and financial condition.
  • We are subject to cybersecurity risks to operational systems, security systems, and infrastructure owned by Allison or third-party vendors or suppliers.
  • Geopolitical risks may have an adverse effect on our results of operations and financial condition.
  • Our brand and reputation are dependent on the continued participation and level of service of our numerous independent distributors and dealers.
The other 24 risks
  • In the event of a catastrophic loss of one of our key manufacturing facilities, our business would be adversely affected.
  • Strategic Risks
  • Our success depends on research and development efforts, and we may not be successful in developing or introducing new products and technologies and responding to customer needs.
  • Our long-term growth prospects and results of operations may be impaired if the rate of adoption of fully automatic transmissions in commercial vehicles outside North America does not increase.
  • Our international operations, in particular our emerging markets, are subject to various risks which could have a material adverse effect on our business, results of operations and financial condition.
  • Fluctuations in foreign currency exchange rates could adversely affect our results.
  • We may not be able to identify or consummate acquisitions or partnerships or achieve expected benefits from or effectively integrate acquisitions or partnerships, which could harm our growth.
  • Risks Related to our Acquisition of the Acquired Off-Highway Business
  • We expect to incur significant costs in connection with the integration of the Acquired Off-Highway Business.
  • Any failure to integrate the Acquired Off-Highway Business and its operations with ours successfully in the expected time frame may adversely affect our results of operations and financial condition.
  • We may fail to realize all of the anticipated benefits from the integration of the Acquired Off-Highway Business and its operations after the acquisition or fail to effectively manage our expanded operations.
  • Our future results may suffer if we do not effectively manage our expanded operations.
  • Legal and Regulatory Risks
  • Any events that impact our brand name could have an adverse effect on our reputation, cause us to incur significant costs and negatively impact our business, results of operations and financial condition.
  • Many of the key patents and unpatented technology we use in our business are licensed to us, not owned by us, and our ability to use and enforce such patents and technology is restricted by the terms of the license.
  • We rely on unpatented technology, which exposes us to certain risks.
  • Environmental, health and safety laws and regulations may impose significant compliance costs and liabilities on us.
  • Our business and financial results may be adversely affected by government contracting risks.
  • Provisions of our amended and restated certificate of incorporation and amended and restated bylaws and Delaware law might discourage, delay or prevent a change of control of our company or changes in our management and, as a result, depress the trading price of our common stock.
  • Risks Related to Our Indebtedness and Financial Risks
  • Our indebtedness could adversely affect our financial health, restrict our activities and affect our ability to meet our obligations.
  • To service our indebtedness, we will require a significant amount of cash, and our ability to generate cash depends on many factors beyond our control.
  • Despite current indebtedness levels, we and our subsidiaries may still be able to incur additional indebtedness, which could further exacerbate the risks associated with our substantial financial leverage.
  • Our pension and other post-retirement benefits funding obligations could increase as a result of a variety of factors.
  • An impairment in the carrying value of goodwill, other intangible assets or long-lived assets could negatively affect our consolidated results of operations and net worth.
  • Volatility in and disruption to the global economic environment, including the impact of an economic recession, trade protectionism and tariffs, and changes in the regulatory and business environments in which we operate, may have a material adverse effect on our business, results of operations and financial condition.
  • Geopolitical risks may have an adverse effect on our results of operations and financial condition, including on the availability of raw materials for our products or component parts, our supply chain, our customers and our long-term sales opportunities.
  • Any events that impact our brand name, including if the products we manufacture or distribute are found to be defective, could have an adverse effect on our reputation, cause us to incur significant costs and negatively impact our business, results of operations and financial condition.

Legal proceedings

We are subject to various contingencies, including routine legal proceedings and claims arising out of the normal course of business. These proceedings primarily involve commercial claims, product liability claims, personal injury claims and workers’ compensation claims. The outcome of these lawsuits, legal proceedings and claims cannot be predicted with certainty. Nevertheless, we believe the outcome of any of these currently existing proceedings, even if determined adversely, would not have a material adverse effect on our financial condition or results of operations. See "Note 18. Commitments and Contingencies” of Notes to Consolidated Financial Statements included in Part II, Item 8., of this Annual Report on Form 10-K.

The opening of Item 3, Legal Proceedings.18

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