CMI · Cummins Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $33.67B | $34.10B | $34.06B | $28.07B | $24.02B | $19.81B |
| Cost of Revenue | $25.15B | $25.66B | $25.82B | $21.36B | $18.33B | $14.92B |
| Gross Profit | $8.52B | $8.44B | $8.25B | $6.72B | $5.70B | $4.89B |
| R&D | $1.40B | $1.46B | $1.50B | $1.28B | $1.09B | $906.00M |
| SG&A | $3.13B | $3.27B | $3.33B | $2.69B | $2.37B | $2.13B |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $1.10B | $1.06B | $1.02B | $784.00M | $662.00M | $673.00M |
| Operating Income | $4.03B | $3.75B | $1.76B | $2.93B | $2.71B | $2.27B |
| Interest Expense | $329.00M | $370.00M | $375.00M | $199.00M | $111.00M | $100.00M |
| Income Tax | $1.01B | $835.00M | $786.00M | $636.00M | $587.00M | $527.00M |
| Net Income | $2.84B | $3.95B | $735.00M | $2.15B | $2.13B | $1.79B |
| EPS - Basic | $20.62 | $28.55 | $5.19 | $15.20 | $14.74 | $12.07 |
| EPS - Diluted | $20.50 | $28.37 | $5.15 | $15.12 | $14.61 | $12.01 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.85B | $1.67B | $3.40B | $2.10B | $2.59B | $3.40B |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | $5.82B | $5.74B | $5.68B | $5.60B | $4.36B | $3.42B |
| Accounts Payable | $3.80B | $3.95B | $4.26B | $4.25B | $3.02B | $2.82B |
| Current Assets | $16.93B | $14.75B | $15.20B | $14.45B | $12.31B | $11.90B |
| Total Assets | $33.99B | $31.54B | $32.01B | $30.30B | $23.71B | $22.62B |
| Current Liabilities | $9.61B | $11.23B | $12.90B | $11.42B | $7.08B | $6.33B |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $20.58B | $20.23B | $22.10B | $20.07B | $14.31B | $13.63B |
| Stockholders' Equity | $12.35B | $10.27B | $8.85B | $8.97B | $8.47B | $8.06B |
| Retained Earnings | $22.62B | $20.83B | $17.85B | $18.04B | $16.74B | $15.42B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.62B | $1.49B | $3.97B | $1.96B | $2.26B | $2.72B |
| Investing Cash Flow | ($1.73B) | ($1.78B) | ($1.64B) | ($4.17B) | ($873.00M) | ($719.00M) |
| Financing Cash Flow | ($772.00M) | ($173.00M) | ($2.18B) | $1.67B | ($2.23B) | $280.00M |
| CapEx | $1.24B | $1.21B | $1.21B | $916.00M | $734.00M | $528.00M |
| Free Cash Flow | $2.39B | $279.00M | $2.75B | $1.05B | $1.52B | $2.19B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 25.3% | 24.7% | 24.2% | 23.9% | 23.7% | 24.7% |
| Operating margin | 12.0% | 11.0% | 5.2% | 10.4% | 11.3% | 11.5% |
| EBITDA margin | 15.2% | 14.1% | 8.2% | 13.2% | 14.0% | 14.9% |
| Net margin | 8.4% | 11.6% | 2.2% | 7.7% | 8.9% | 9.0% |
| Free cash flow margin | 7.1% | 0.8% | 8.1% | 3.7% | 6.3% | 11.1% |
| FCF / Net income | 0.84 | 0.07 | 3.75 | 0.49 | 0.71 | 1.23 |
| R&D / Revenue | 4.1% | 4.3% | 4.4% | 4.6% | 4.5% | 4.6% |
| SG&A / Revenue | 9.3% | 9.6% | 9.8% | 9.6% | 9.9% | 10.7% |
| Effective tax rate | 26.1% | 17.5% | 51.7% | 22.8% | 21.6% | 22.8% |
| Return on assets | 8.4% | 12.5% | 2.3% | 7.1% | 9.0% | 7.9% |
| Return on equity | 23.0% | 38.4% | 8.3% | 24.0% | 25.1% | 22.2% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 1.76 | 1.31 | 1.18 | 1.27 | 1.74 | 1.88 |
| Quick ratio | 1.16 | 0.80 | 0.74 | 0.77 | 1.12 | 1.34 |
| Cash ratio | 0.30 | 0.15 | 0.26 | 0.18 | 0.37 | 0.54 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | 12.2x | 10.1x | 4.7x | 14.7x | 24.4x | 22.7x |
| Equity multiplier | 2.75 | 3.07 | 3.62 | 3.38 | 2.80 | 2.81 |
| Liabilities / Assets | 0.61 | 0.64 | 0.69 | 0.66 | 0.60 | 0.60 |
| Efficiency | ||||||
| Asset turnover | 0.99 | 1.08 | 1.06 | 0.93 | 1.01 | 0.88 |
| Inventory turnover | 4.32 | 4.47 | 4.55 | 3.81 | 4.21 | 4.36 |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | 84d | 82d | 80d | 96d | 87d | 84d |
| Days payable outstanding | 55d | 56d | 60d | 73d | 60d | 69d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 24.9x | 12.3x | 46.5x | 16.0x | 14.9x | 18.9x |
| P / B | 5.7x | 4.7x | 3.9x | 3.8x | 3.8x | 4.2x |
| P / S | 2.1x | 1.4x | 1.0x | 1.2x | 1.3x | 1.7x |
| EV / EBITDA | 13.2x | 9.7x | 11.1x | 8.7x | 8.7x | 10.3x |
| Growth | ||||||
| Revenue growth (YoY) | -1.3% | 0.1% | 21.3% | 16.9% | 21.3% | -16.0% |
| Revenue CAGR (3y) | 6.2% | 12.4% | 19.8% | 6.0% | 11.1% | -1.0% |
| Revenue CAGR (5y) | 11.2% | 7.7% | 14.2% | 6.6% | 6.5% | 0.7% |
| Gross profit growth (YoY) | 0.9% | 2.3% | 22.8% | 18.0% | 16.4% | -18.2% |
| Operating income growth (YoY) | 7.3% | 112.9% | -39.9% | 8.2% | 19.3% | -16.0% |
| Net income growth (YoY) | -28.0% | 436.9% | -65.8% | 0.9% | 19.1% | -20.8% |
| EPS growth (YoY) | -27.7% | 450.9% | -65.9% | 3.5% | 21.6% | -17.1% |
| EPS CAGR (3y) | 10.7% | 24.8% | -24.6% | 1.5% | 3.6% | 26.2% |
| EPS CAGR (5y) | 11.3% | 14.4% | -17.1% | 20.4% | 12.2% | 8.9% |
| FCF growth (YoY) | 755.2% | -89.9% | 163.2% | -31.3% | -30.6% | -11.6% |
| FCF CAGR (5y) | 1.7% | -35.4% | 10.5% | -10.0% | 1.6% | 10.8% |
| Book value growth (YoY) | 20.2% | 16.1% | -1.4% | 5.9% | 5.1% | 7.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$67.34B totalTotal Segment$33.67B · 50.0%
Distribution$12.39B · 18.4%
Components$8.64B · 12.8%
Engine$8.10B · 12.0%
Power Systems$4.11B · 6.1%
Accelera$423.00M · 0.6%
Product / service
$40.27B totalOnhighway$7.02B · 17.4%
DBUPower Generation Domain$4.93B · 12.2%
Parts$4.07B · 10.1%
Drivetrain And Braking Systems$3.98B · 9.9%
Emissionsolutions$3.03B · 7.5%
Mediumdutytruckandbus$2.55B · 6.3%
Heavydutytruck$2.54B · 6.3%
PSBUPower Generation$2.23B · 5.5%
Lightdutyautomotive$1.93B · 4.8%
Service$1.80B · 4.5%
Engine Product Line$1.59B · 3.9%
Industrial$1.24B · 3.1%
Engine Components And Software$1.20B · 3.0%
Offhighway$1.08B · 2.7%
Generatortechnologies$647.00M · 1.6%
Eaton Automated Transmission Technologies$423.00M · 1.1%
Geographic
$45.18B totalUS$18.97B · 42.0%
Non Us$9.68B · 21.4%
North America$8.62B · 19.1%
CN$3.30B · 7.3%
IN$1.72B · 3.8%
Europe$1.19B · 2.6%
Asia Pacific$1.15B · 2.5%
Latin America$293.00M · 0.6%
Africa$266.00M · 0.6%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.33
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Engines & Turbines
Comparing CUMMINS INC against the 5 most active filers in the same SIC group.
Dividends
$8.00/share trailing 12 months · +9.9% YoY
| Ex-date | Per share |
|---|---|
| May 22, 2026 | $2.0000 |
| Feb 20, 2026 | $2.0000 |
| Nov 21, 2025 | $2.0000 |
| Aug 22, 2025 | $2.0000 |
| May 23, 2025 | $1.8200 |
| Feb 21, 2025 | $1.8200 |
| Nov 22, 2024 | $1.8200 |
| Aug 23, 2024 | $1.8200 |
| May 23, 2024 | $1.6800 |
| Feb 22, 2024 | $1.6800 |
| Nov 22, 2023 | $1.6800 |
| Aug 24, 2023 | $1.6800 |
| May 18, 2023 | $1.5700 |
| Feb 23, 2023 | $1.5700 |
| Nov 17, 2022 | $1.5700 |
| Aug 18, 2022 | $1.5700 |
| May 19, 2022 | $1.4500 |
| Feb 17, 2022 | $1.4500 |
| Nov 18, 2021 | $1.4500 |
| Aug 19, 2021 | $1.4500 |
| May 20, 2021 | $1.3500 |
| Feb 18, 2021 | $1.3500 |
| Nov 19, 2020 | $1.3500 |
| Aug 20, 2020 | $1.3110 |