CUMMINS INC CMI

Industrials SIC 3510 - Engines & Turbines NAICS Manufacturing › Machinery Manufacturing › Engine, Turbine, and Power Transmission Equipment Manufacturing derived NYSE

We were founded in 1919 as Cummins Engine Company, a corporation in Columbus, Indiana, and one of the first diesel engine manufacturers. In 2001, we changed our name to Cummins Inc. We are a global power leader committed to powering a more prosperous world. Since 1919, we have delivered innovative solutions that move people, goods and economies forward. Our five reportable segments - Engine, Components, Distribution, Power Systems and Accelera - offer a broad portfolio, including advanced diesel, electric and hybrid powertrains; integrated power generation systems; critical components such as aftertreatment, turbochargers, fuel systems, controls, transmissions, axles and brakes; and zero emissions technologies like battery and electric powertrain systems. With a global footprint, deep technical expertise and an extensive service network, we deliver dependable, cutting-edge solutions tailored to our customers' needs, supporting them through the energy transition with our Destination Zero strategy. We sell our products to original equipment manufacturers (OEMs), distributors, dealers and other customers worldwide. We serve our customers through a service network of approximately 640 wholly-owned, joint venture and independent distributor locations and more than 13,000 Cummins certified dealer locations in approximately 190 countries and territories.

Last close 517.40 2026-10-23
Market cap $71.23B 2026-06-30 share count
52-week range 413.98 - 737.76

Valuation FY2025 figures against the last close

P/S2.1x
P/E25.2x
P/FCF29.9x
EV/EBITDA13.2x
Dividend yield1.5%
Diluted EPS20.50

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $33.67B$34.10B$34.06B$28.07B$24.02B$19.81B$23.57B$23.77B$20.43B$17.51B
Cost of revenue $25.15B$25.66B$25.82B$21.36B$18.33B$14.92B$17.59B$18.03B$15.33B$13.05B
Gross profit $8.52B$8.44B$8.25B$6.72B$5.70B$4.89B$5.98B$5.74B$5.10B$4.46B
R&D $1.40B$1.46B$1.50B$1.28B$1.09B$906.0M$1.00B$902.0M$754.0M$637.0M
SG&A $3.12B$3.27B$3.33B$2.69B$2.37B$2.12B$2.45B$2.44B$2.43B$2.10B
Operating income $4.03B$3.75B$1.76B$2.93B$2.71B$2.27B$2.70B$2.79B$2.33B$1.88B
Interest expense $329.0M$370.0M$375.0M$199.0M$111.0M$100.0M$109.0M$114.0M$81.0M$69.0M
Pre-tax income $3.96B$4.90B$1.63B$2.82B$2.75B$2.34B$2.83B$2.75B$2.37B$1.93B
Income tax $1.01B$835.0M$786.0M$636.0M$587.0M$527.0M$566.0M$566.0M$1.37B$474.0M
Net income $2.96B$4.07B$840.0M$2.18B$2.16B$1.81B$2.27B$2.19B$994.0M$1.46B
EPS, basic 20.6228.555.1915.2014.7412.0714.5413.205.998.25
EPS, diluted 20.5028.375.1515.1214.6112.0114.4813.155.978.23
Shares, diluted (wtd. avg.) 138.7M139.1M142.7M142.3M145.9M149.0M156.1M162.8M167.3M169.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $2.85B$1.67B$2.18B$2.10B$2.59B$3.40B$1.13B$1.30B$1.37B$1.12B
Short-term investments $764.0M$593.0M$562.0M$472.0M$595.0M$461.0M————
Inventory $5.82B$5.74B$5.68B$5.60B$4.36B$3.42B$3.49B$3.76B$3.17B$2.67B
Total current assets $16.93B$14.75B$15.20B$14.45B$12.31B$11.90B$9.39B$9.82B$8.93B$7.71B
Property, plant and equipment $6.96B$6.36B$6.25B$5.52B$4.42B$4.25B$4.25B$4.10B$3.93B$3.80B
Goodwill $2.22B$2.37B$2.50B$2.34B$1.29B$1.29B$1.29B$1.13B$1.08B$480.0M
Other intangibles $2.17B$2.35B$2.52B$2.69B$900.0M$963.0M$1.00B$909.0M$973.0M$332.0M
Total assets $33.99B$31.54B$32.01B$30.30B$23.71B$22.62B$19.74B$19.06B$18.07B$15.01B
Accounts payable $3.80B$3.95B$4.26B$4.25B$3.02B$2.82B$2.53B$2.82B$2.58B$1.85B
Short-term debt $94.0M$660.0M$118.0M$573.0M$59.0M$62.0M$31.0M$45.0M$63.0M$35.0M
Total current liabilities $9.61B$11.23B$12.90B$11.42B$7.08B$6.33B$6.26B$6.38B$5.68B$4.33B
Total liabilities $20.58B$20.23B$22.10B$20.07B$14.31B$13.63B$11.27B$10.80B$9.91B$7.84B
Retained earnings $22.62B$20.83B$17.85B$18.04B$16.74B$15.42B$14.42B$12.92B$11.46B$11.04B
Total equity $12.35B$10.27B$9.90B$9.97B$9.04B$8.71B$8.41B$8.26B$8.16B$7.17B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $3.62B$1.49B$3.97B$1.96B$2.26B$2.72B$3.18B$2.38B$2.28B$1.94B
Depreciation and amortisation $1.10B$1.06B$1.02B$784.0M$662.0M$673.0M$672.0M$611.0M$583.0M$530.0M
Stock-based compensation ————$37.0M$31.0M$49.0M$53.0M$41.0M$32.0M
Capital expenditure $1.24B$1.21B$1.21B$916.0M$734.0M$528.0M$700.0M$709.0M$506.0M$531.0M
Investing cash flow -$1.73B-$1.78B-$1.64B-$4.17B-$873.0M-$719.0M-$1.15B-$974.0M-$1.05B-$917.0M
Financing cash flow -$772.0M-$173.0M-$2.18B$1.67B-$2.23B$280.0M-$2.10B-$1.40B-$1.07B-$1.41B
Dividends paid $1.05B$969.0M$921.0M$855.0M$809.0M$782.0M$761.0M$718.0M$701.0M$676.0M
Buybacks —$0$0$374.0M$1.40B$641.0M$1.27B$1.14B$451.0M$778.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000026172-26-000009.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 10B 20B 30B 40B Revenue, FY2016: 17.5B Gross profit, FY2016: 4.5B Net income, FY2016: 1.5B Revenue, FY2017: 20.4B Gross profit, FY2017: 5.1B Net income, FY2017: 994M Revenue, FY2018: 23.8B Gross profit, FY2018: 5.7B Net income, FY2018: 2.2B Revenue, FY2019: 23.6B Gross profit, FY2019: 6B Net income, FY2019: 2.3B Revenue, FY2020: 19.8B Gross profit, FY2020: 4.9B Net income, FY2020: 1.8B Revenue, FY2021: 24B Gross profit, FY2021: 5.7B Net income, FY2021: 2.2B Revenue, FY2022: 28.1B Gross profit, FY2022: 6.7B Net income, FY2022: 2.2B Revenue, FY2023: 34.1B Gross profit, FY2023: 8.2B Net income, FY2023: 840M Revenue, FY2024: 34.1B Gross profit, FY2024: 8.4B Net income, FY2024: 4.1B Revenue, FY2025: 33.7B Gross profit, FY2025: 8.5B Net income, FY2025: 3B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $17.51B $20.43B $23.77B $23.57B $19.81B $24.02B $28.07B $34.06B $34.10B $33.67B
Gross profit $4.46B $5.10B $5.74B $5.98B $4.89B $5.70B $6.72B $8.25B $8.44B $8.52B
Net income $1.46B $994.0M $2.19B $2.27B $1.81B $2.16B $2.18B $840.0M $4.07B $2.96B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Shareholder vote Item 5.07
  • New debt or obligation Item 2.03

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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