Cummins Inc.

Cummins Inc.

CMI

NYSEIndustrialsIndustrial - Machinery

Latest quote

$564.71

+$3.96 · +0.71%

CMI company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

Jul 10, 2026

GoAI Score

Hold

Valuation

65

Undervalued

Sentiment

61

Bullish

Risk

37

Moderate Risk

Momentum

50

Neutral

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Company profile

Company website

Cummins Inc. is a global innovator in power solutions, responsible for the design, manufacturing, distribution, and maintenance of a broad array of diesel and natural gas engines, alongside cutting-edge electric and hybrid powertrains, and associated components. Its operations are strategically divided into five segments: Engine, Distribution, Components, Power Systems, and New Power. The company's extensive engine portfolio, available under the Cummins brand and others, powers a vast range of heavy and medium-duty applications, including commercial trucks, buses, recreational vehicles, light-duty automobiles, construction and mining equipment, marine vessels, railway systems, oil and gas operations, defense, and agriculture. Complementing these engines, Cummins provides both new and remanufactured parts and comprehensive servicing. Beyond its core engine offerings, Cummins delivers sophisticated power generation systems, high-horsepower engines, and specialized application engineering. It also offers custom-designed assemblies, retail and wholesale aftermarket components, and expert repair services conducted both in-shop and on-site. The company's technological scope extends to emission control solutions, turbochargers, a variety of filtration systems (for air, fuel, lubricants, and hydraulics), coolants, fuel additives, and advanced electronic control modules, sensors, and supporting software. Fuel systems, both new and reconditioned, are also a key part of their product line, as are automated transmissions. For electrical power generation, Cummins provides standby and primary power generators, complete with controls, paralleling systems, and transfer switches, featuring products like Stamford and AVK A/C alternators. Embracing future energy demands, the company is a frontrunner in electrified power systems, encompassing battery technologies, fuel cells, and hydrogen production. This includes a robust offering of filtration, aftertreatment, control, air handling systems, automated transmissions, electric power generation, and battery solutions. Cummins distributes its diverse product range to original equipment manufacturers, an extensive network of distributors and dealers, and various other clientele worldwide. Founded in 1919 as the Cummins Engine Company, the enterprise adopted its current name, Cummins Inc., in 2001 and maintains its headquarters in Columbus, Indiana.

Industry
Industrial - Machinery
Sector
Industrials
Headquarters
US
CEO
Jennifer W. Rumsey
Listed since
Oct 3, 1947
Employees
67,400

Market position

Day range

Current $564.71

52-week range

Current $564.71

Open
$561.33
Previous close
$560.75
Volume
294.17K
0.29× average
Average volume
1.02M
Average daily volume
Market cap
77.92B USD
Beta
1.23
Market reference 1
50-day average
$632.75
-10.75% below average
200-day average
$600.06
-5.89% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
75.66B USD
P/E (TTM)
28.74×
P/B (TTM)
6.07×
P/S (TTM)
2.25×
EV / EBITDA
14.02×
Earnings yield
4.04%
Free cash flow yield
3.39%
Dividend yield
1.45%

Profitability & efficiency

Gross margin
25.32%
Operating margin
11.13%
Net margin
7.82%
Return on equity
23.02%
Return on assets
8.36%
Return on invested capital
11.41%

Financial health

Debt / equity
0.64×
Current ratio
1.76×
Altman Z-score
4.68
Piotroski F-score
6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends28%18%9%-0%Gross margin, FY2021: 23.71%Gross margin, FY2022: 23.93%Gross margin, FY2023: 24.22%Gross margin, FY2024: 24.75%Gross margin, FY2025: 25.29%Operating margin, FY2021: 11.27%Operating margin, FY2022: 10.43%Operating margin, FY2023: 5.17%Operating margin, FY2024: 11.00%Operating margin, FY2025: 11.48%Net margin, FY2021: 8.87%Net margin, FY2022: 7.66%Net margin, FY2023: 2.16%Net margin, FY2024: 11.57%Net margin, FY2025: 8.44%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 23.71%. Gross margin FY2022 23.93%. Gross margin FY2023 24.22%. Gross margin FY2024 24.75%. Gross margin FY2025 25.29%. Operating margin FY2021 11.27%. Operating margin FY2022 10.43%. Operating margin FY2023 5.17%. Operating margin FY2024 11.00%. Operating margin FY2025 11.48%. Net margin FY2021 8.87%. Net margin FY2022 7.66%. Net margin FY2023 2.16%. Net margin FY2024 11.57%. Net margin FY2025 8.44%.

Income trends

Revenue

33.67B USD-1.27%

Operating income

3.87B USD+3.07%

Net income

2.84B USD-27.95%
Income trends across reported periods37.44B USD24.09B USD10.75B USD−2.6B USDRevenue, FY2021: 24.02B USDRevenue, FY2022: 28.07B USDRevenue, FY2023: 34.07B USDRevenue, FY2024: 34.1B USDRevenue, FY2025: 33.67B USDOperating income, FY2021: 2.71B USDOperating income, FY2022: 2.93B USDOperating income, FY2023: 1.76B USDOperating income, FY2024: 3.75B USDOperating income, FY2025: 3.87B USDNet income, FY2021: 2.13B USDNet income, FY2022: 2.15B USDNet income, FY2023: 735M USDNet income, FY2024: 3.95B USDNet income, FY2025: 2.84B USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 24.02B USD. Revenue FY2022 28.07B USD. Revenue FY2023 34.07B USD. Revenue FY2024 34.1B USD. Revenue FY2025 33.67B USD. Operating income FY2021 2.71B USD. Operating income FY2022 2.93B USD. Operating income FY2023 1.76B USD. Operating income FY2024 3.75B USD. Operating income FY2025 3.87B USD. Net income FY2021 2.13B USD. Net income FY2022 2.15B USD. Net income FY2023 735M USD. Net income FY2024 3.95B USD. Net income FY2025 2.84B USD.
Financial statements: Income statement
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue33.67B USD34.1B USD34.07B USD28.07B USD24.02B USD
Cost of goods sold25.15B USD25.66B USD25.82B USD21.36B USD18.33B USD
Gross profit8.52B USD8.44B USD8.25B USD6.72B USD5.7B USD
Research and development1.4B USD1.46B USD1.5B USD1.28B USD1.09B USD
Selling, general, and administrative3.13B USD3.28B USD3.33B USD2.69B USD2.37B USD
Operating expenses4.65B USD4.69B USD6.49B USD3.79B USD2.99B USD
Interest income211M USD186M USD239M USD125M USD82M USD
Interest expense329M USD370M USD375M USD199M USD111M USD
Depreciation and amortization1.11B USD1.07B USD1.02B USD784M USD662M USD
Operating income3.87B USD3.75B USD1.76B USD2.93B USD2.71B USD
Net income2.84B USD3.95B USD735M USD2.15B USD2.13B USD

Company facts updated Sep 8, 2026.

Earnings

EPS beat rate
82%
9 beats, 2 misses, 0 met estimates
Average EPS surprise
+10.09%
11 comparable reports
Latest EPS result
6.73
Estimate 7.21 · Miss by 6.66%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates8.537.145.764.37Q1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 4, 2025: actual 5.16, estimate 4.7, surprise +9.79%, Beat. Q2 2025, reported May 5, 2025: actual 5.96, estimate 4.91, surprise +21.38%, Beat. Q3 2025, reported Aug 5, 2025: actual 6.43, estimate 5.23, surprise +22.94%, Beat. Q4 2025, reported Nov 6, 2025: actual 5.59, estimate 4.83, surprise +15.73%, Beat. Q1 2026, reported Feb 5, 2026: actual 5.81, estimate 5.1, surprise +13.92%, Beat. Q2 2026, reported May 5, 2026: actual 6.15, estimate 5.63, surprise +9.24%, Beat. Q3 2026, reported Aug 4, 2026: actual 6.73, estimate 7.21, surprise -6.66%, Miss. Q4 2026, reported Nov 5, 2026: actual —, estimate 8.2, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates10.21B9.34B8.47B7.6BQ1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 4, 2025: actual 8.45B USD, estimate 8.07B USD, surprise +4.67%, Beat. Q2 2025, reported May 5, 2025: actual 8.17B USD, estimate 8.18B USD, surprise -0.02%, Miss. Q3 2025, reported Aug 5, 2025: actual 8.64B USD, estimate 8.43B USD, surprise +2.48%, Beat. Q4 2025, reported Nov 6, 2025: actual 8.32B USD, estimate 7.99B USD, surprise +4.10%, Beat. Q1 2026, reported Feb 5, 2026: actual 8.54B USD, estimate 8.11B USD, surprise +5.26%, Beat. Q2 2026, reported May 5, 2026: actual 8.4B USD, estimate 8.37B USD, surprise +0.38%, Beat. Q3 2026, reported Aug 4, 2026: actual 9.46B USD, estimate 9.33B USD, surprise +1.36%, Beat. Q4 2026, reported Nov 5, 2026: actual —, estimate 9.82B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$787.5

39.45% upside
Past 12 months12-month forecastHigh $894Average $787.5Low $700

Rating distribution

51 ratings
Strong buy00%
Buy2753%
Hold2345%
Sell12%
Strong sell00%

Recent analyst actions

12 institutions

CMI news

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$7.64

2025 complete year+36.4% since 2021

2026 partial: $6.20

* Partial calendar year in the available dividend history.

Corporate action history

Dividend

Ex-dividend Aug 21, 2026

$2.20

Quarterly

Record Aug 21, 2026 · Payment Sep 3, 2026

Dividend

Ex-dividend May 22, 2026

$2.00

Quarterly

Record May 22, 2026 · Payment Jun 4, 2026

Dividend

Ex-dividend Feb 20, 2026

$2.00

Quarterly

Record Feb 20, 2026 · Payment Mar 5, 2026

Dividend

Ex-dividend Nov 21, 2025

$2.00

Quarterly

Record Nov 21, 2025 · Payment Dec 4, 2025

Dividend

Ex-dividend Aug 22, 2025

$2.00

Quarterly

Record Aug 22, 2025 · Payment Sep 4, 2025

Dividend

Ex-dividend May 23, 2025

$1.82

Quarterly

Record May 23, 2025 · Payment Jun 5, 2025

CMI peers

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AI-generated and delayed market data for informational and educational purposes only. Not investment advice.