Cummins Inc (CMI)

Cummins Inc. offers various power solutions worldwide. The company operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. It offers diesel and natural gas-powered engines; and drivetrain systems, including axles, drivelines, brakes, and suspension systems; and on- and off-highway, and other products. The company also provides aftertreatment technology and solutions comprising custom engineering systems and integrated controls, oxidation catalysts, particulate filters, and selective catalytic reduction systems, as well as engineered components, including dosers; turbochargers, fuel systems, and valvetrain technologies; electronic control modules, sensors, and supporting software; and automated manual transmissions, and automatic transmissions for internal combustion engines. In addition, it sells and offers support services power generation systems, high-horsepower engines, and heavy-duty and medium-duty engines; offers application engineering services, custom-designed assemblies, and in-shop and field-based repair services; and retail and wholesale aftermarket parts. Further, the company offers standby and prime power generators, controls, paralleling systems, and transfer switches; turnkey solutions for distributed generation and energy management applications using natural gas, diesel, battery energy storage systems, and newer alternative sustainable fuels; diesel and natural gas high-speed, high-horsepower engines; and A/C generator/alternator products. Additionally, it provides electrified power systems, including batteries, fuel cells, and electric powertrain technologies. It sells its products to original equipment manufacturers, distributors, dealers, and other customers. The company was formerly known as Cummins Engine Company and changed its name to Cummins Inc. in 2001. Cummins Inc. was founded in 1919 and is headquartered in Columbus, Indiana.

Symbol
CMI
Exchange
NYSE
Sector
Industrials
Industry
Specialty Industrial Machinery
Market cap
$72.73B
52 week range
400.72 - 737.76

Valuation

Share price
$528.32 (close of 2026-10-02)
P/E (TTM)
26.87x
Price to book
5.23x
Price to free cash flow
21.60x
Enterprise value
$77.09B
Book value per share
$101.01

Price performance

PeriodChange
1 day+2.19%
5 days+0.62%
1 month-4.10%
3 months-20.16%
6 months-3.89%
Year to date+3.50%
1 year+22.13%
3 years+134.24%
5 years+131.76%
10 years+312.27%
All time+10001.72%

Members of Congress who disclosed CMI trades

Lisa McClain · Bruce Westerman · Marjorie Taylor Greene · Jared Moskowitz · Josh Gottheimer · Julia Letlow

Super investors holding CMI

First Eagle Investment (First Eagle Investment Management, LLC) · Ken Griffin (Citadel) · Ray Dalio (Bridgewater Associates) · Christopher Bloomstran (Semper Augustus Investments Grroup LLC) · Mairs & Power (Mairs & Power Inc)

Profitability and growth

Return on equity
22.05%
Return on invested capital
16.85%
Return on assets
8.70%
Return on capital employed
16.51%
Gross margin
25.29%
Net margin
8.78%
EBITDA margin
15.24%
Revenue growth
-1.27%
Net income growth
-27.31%
Free cash flow growth
755.20%

Cash flow and balance sheet

Free cash flow yield (TTM)
4.63%
Current ratio
1.73x
Net debt to EBITDA
0.82x

Latest reported year

Period end
2025-12-31
Fiscal year
2025
Revenue
$33.67B
Cost of revenue
$25.15B
Gross profit
$8.52B
EBITDA
$5.13B
Net income
$2.96B
Earnings per share
$20.62
Research and development
$1.40B
Interest expense
$329.00M
Shares outstanding
137.90M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$33.67B$8.52B$2.96B$20.62
2024-12-31$34.10B$8.44B$4.07B$28.55
2023-12-31$34.06B$8.25B$840.00M$5.19
2022-12-31$28.07B$6.72B$2.18B$15.20
2021-12-31$24.02B$5.70B$2.16B$14.74
2020-12-31$19.81B$4.89B$1.81B$12.07
2019-12-31$23.57B$5.98B$2.27B$14.54
2018-12-31$23.77B$5.74B$2.19B$13.20
2017-12-31$20.43B$5.10B$994.00M$5.99
2016-12-31$17.51B$4.46B$1.46B$8.25

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3125.29%8.78%22.05%16.85%
2024-12-3124.75%11.93%35.97%17.52%
2023-12-3124.22%2.47%8.48%6.78%
2022-12-3123.93%7.78%21.90%14.56%
2021-12-3123.71%9.01%23.95%32.85%
2020-12-3124.70%9.14%20.80%31.96%
2019-12-3125.37%9.62%26.98%28.23%
2018-12-3124.13%9.20%26.48%32.12%
2017-12-3124.97%4.87%12.18%17.52%
2016-12-3125.46%8.32%20.30%24.12%

Cash and debt by year

Period endCash
2025-12-31$3.61B
2024-12-31$2.26B
2023-12-31$2.74B
2022-12-31$2.57B
2021-12-31$3.19B
2020-12-31$3.86B
2019-12-31$1.47B
2018-12-31$1.52B
2017-12-31$1.57B
2016-12-31$1.38B

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$2.39B$93.00M
2024-12-31$279.00M$100.00M
2023-12-31$2.75B$79.00M
2022-12-31$1.05B$33.00M
2021-12-31$1.52B$37.00M
2020-12-31$2.19B$31.00M
2019-12-31$2.48B$49.00M
2018-12-31$1.67B$53.00M
2017-12-31$1.77B$41.00M
2016-12-31$1.41B$32.00M

Dividend history

Most recent payment
2026-08-21
Paid in the last twelve months
$8.20
Payment dateDividend per share
2026-08-21$2.20
2026-05-22$2.00
2026-02-20$2.00
2025-11-21$2.00
2025-08-22$2.00
2025-05-23$1.82
2025-02-21$1.82
2024-11-22$1.82

Investor relations

Next earnings report

Next confirmed report
2026-11-05
Consensus EPS estimate
$8.45

Past earnings dates

ReportedFiscal periodEPS estimate
2026-08-04Jun/2026$7.33
2026-05-05Mar/2026$5.60
2026-02-05Dec/2025$5.20
2025-11-06Sep/2025$4.73
2025-08-05Jun/2025$4.99
2025-07-30--
2025-05-05Mar/2025$4.82
2025-04-30--

Filings and sources

Company website
cummins.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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