CMI Stock - Cummins Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $34.10B | $34.06B | $28.07B | $24.02B | $19.81B |
| Gross Profit | $8.44B | $8.25B | $6.72B | $5.70B | $4.89B |
| Gross Margin | 24.7% | 24.2% | 23.9% | 23.7% | 24.7% |
| Operating Income | $3.75B | $1.76B | $2.93B | $2.71B | $2.27B |
| Net Income | $3.95B | $735.00M | $2.15B | $2.13B | $1.79B |
| Net Margin | 11.6% | 2.2% | 7.7% | 8.9% | 9.0% |
| EPS | $28.55 | $5.19 | $15.20 | $14.74 | $12.07 |
Cummins Inc. designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and New Power. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers new parts and services, as well as remanufactured parts and engines. It also provides power generation systems, high-horsepower engines, heavy and medium duty engines, application engineering services, custom-designed assemblies, retail and wholesale aftermarket parts, and in-shop and field-based repair services. In addition, the company offers emission solutions; turbochargers; air and fuel filters, fuel water separators, lube and hydraulic filters, coolants, fuel additives, and other filtration systems; and electronic control modules, sensors, and supporting software, as well as new, replacement, and remanufactured fuel systems. Further, it provides automated transmissions; standby and prime power generators, controls, paralleling systems, and transfer switches, as well as A/C generator/alternator products under the Stamford and AVK brands; and electrified power systems with components and subsystems, including battery, fuel cell, and hydrogen production technologies. Additionally, it offers filtration, aftertreatment, controls systems, air handling systems, automated transmissions, electric power generation systems, and batteries. The company 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.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 19th 2025 | Barclays | Upgrade | Overweight | $546 |
| November 25th 2025 | UBS | Upgrade | Neutral | $500 |
| November 24th 2025 | Truist | Upgrade | Buy | $628 |
| November 14th 2025 | Wells Fargo | Initiation | Overweight | - |
| September 3rd 2025 | Melius | Upgrade | Buy | $500 |
| May 27th 2025 | Goldman | Upgrade | Buy | $431 |
| April 7th 2025 | UBS | Downgrade | Sell | $240 |
| January 14th 2025 | BofA Securities | Upgrade | Neutral | $358 |
| December 9th 2024 | JP Morgan | Upgrade | Neutral | $420← $355 |
| November 13th 2024 | Evercore ISI | Upgrade | Outperform | $408← $294 |
| November 6th 2024 | Vertical Research | Downgrade | Hold | $350 |
| June 28th 2024 | Raymond James | Initiation | Market Perform | - |
| June 26th 2024 | Citigroup | Initiation | Buy | $320 |
| May 10th 2024 | TD Cowen | Reiterated | Buy | $292← $272 |
| March 15th 2024 | UBS | Upgrade | Buy | - |
Earnings History & Surprises
CMIEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | May 4, 2026 | — | — | — | — |
Q1 2026 | Feb 3, 2026 | $5.17 | — | — | — |
Q4 2025 | Nov 6, 2025 | $4.83 | $5.59 | +15.7% | ✓ BEAT |
Q3 2025 | Aug 5, 2025 | $5.23 | $6.43 | +22.9% | ✓ BEAT |
Q2 2025 | May 5, 2025 | $4.91 | $5.96 | +21.4% | ✓ BEAT |
Q1 2025 | Feb 4, 2025 | $4.70 | $5.16 | +9.8% | ✓ BEAT |
Q4 2024 | Nov 5, 2024 | $4.80 | $5.86 | +22.1% | ✓ BEAT |
Q3 2024 | Aug 1, 2024 | $4.81 | $5.26 | +9.4% | ✓ BEAT |
Q2 2024 | May 2, 2024 | $5.09 | $5.10 | +0.2% | ✓ BEAT |
Q1 2024 | Feb 6, 2024 | $4.45 | $4.14 | -7.0% | ✗ MISS |
Q4 2023 | Nov 2, 2023 | $4.68 | $4.59 | -1.9% | ✗ MISS |
Q3 2023 | Aug 3, 2023 | $5.29 | $5.05 | -4.5% | ✗ MISS |
Q2 2023 | May 2, 2023 | $4.75 | $5.55 | +16.8% | ✓ BEAT |
Q1 2023 | Feb 6, 2023 | $4.50 | $4.43 | -1.6% | ✗ MISS |
Q4 2022 | Nov 3, 2022 | $4.85 | $2.82 | -41.9% | ✗ MISS |
Q3 2022 | Aug 2, 2022 | $4.35 | $4.94 | +13.6% | ✓ BEAT |
Q2 2022 | May 3, 2022 | $3.55 | $4.04 | +13.8% | ✓ BEAT |
Q1 2022 | Feb 3, 2022 | $3.15 | $2.73 | -13.3% | ✗ MISS |
Q4 2021 | Nov 2, 2021 | $3.91 | $3.69 | -5.6% | ✗ MISS |
Q3 2021 | Aug 3, 2021 | $4.05 | $4.10 | +1.2% | ✓ BEAT |
Latest News
Barclays Upgrades Cummins to Overweight, Raises Price Target to $546
📈 PositiveTruist Securities Maintains Buy on Cummins, Raises Price Target to $653
📈 PositiveCitigroup Maintains Buy on Cummins, Raises Price Target to $580
📈 PositiveShares of machinery companies are trading higher after the Fed cut rates by 25 basis points.
📈 PositiveArgus Research Maintains Buy on Cummins, Raises Price Target to $573
📈 PositiveUBS Upgrades Cummins to Neutral, Raises Price Target to $500
➖ NeutralTruist Securities Upgrades Cummins to Buy, Raises Price Target to $628
📈 PositiveWells Fargo Initiates Coverage On Cummins with Overweight Rating, Announces Price Target of $599
📈 PositiveBarclays Maintains Equal-Weight on Cummins, Raises Price Target to $515
📈 PositiveCitigroup Maintains Buy on Cummins, Raises Price Target to $530
📈 PositiveCummins shares are trading higher after Truist Securities maintains its Hold rating on the stock and raised its price target from $434 to $522.
📈 PositiveTruist Securities Maintains Hold on Cummins, Raises Price Target to $522
➖ NeutralCummins shares are trading higher after the company reported better-than-expected Q3 financial results.
📈 PositiveCummins Holds Off 2025 Forecast Amid Market Uncertainty, Cites Strong Q3 And Cost Discipline
➖ NeutralCummins Q3 Adj. EPS $5.59 Beats $4.81 Estimate
📈 PositiveCummins Q3 Sales $8.317B Beat $7.971B Estimate
📈 PositiveBarclays Maintains Equal-Weight on Cummins, Raises Price Target to $430
➖ NeutralCummins shares are trading lower despite JP Morgan raising its price target on the stock from $00 to $460.
➖ NeutralCummins shares are trading lower despite JP Morgan raising its price target on the stock from $400 to $460.
📉 NegativeJP Morgan Maintains Neutral on Cummins, Raises Price Target to $460
➖ NeutralFrequently Asked Questions about CMI
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