Saturday 17 October 2026
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Cummins Inc.
CMI Industrials Specialty Industrial Machinery
Cummins Inc.’s revenue for fiscal 2025 (year ended December 2025) was $33.7 billion, down 1.27% from fiscal 2024. In the quarter to June 2026, revenue grew 9.42%, EPS grew 4.64%, free cash flow grew 125.6% and total debt fell 7.19%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years.
531.33
1.40
−0.26%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
16.92 | 29.76 | 10.09 | 12.36 | 18.82 | 14.82 | 15.85 | 46.29 | 12.30 | 24.76 |
Piotroski F-Score |
5 | 6 | 7 | 7 | 5 | 7 | 5 | 6 | 7 | 6 |
P/S ratio |
1.35 | 1.44 | 0.91 | 1.18 | 1.70 | 1.31 | 1.21 | 1.00 | 1.41 | 2.09 |
Altman Z-Score |
4.65 | 4.44 | 4.10 | 4.34 | 3.94 | 3.93 | 3.21 | 3.03 | 3.96 | 4.62 |
Altman Z″-Score (non-manufacturers) |
5.68 | 4.98 | 5.18 | 5.13 | 5.20 | 5.16 | 3.76 | 3.13 | 4.27 | 5.06 |
P/FCF ratio |
16.62 | 15.69 | 12.99 | 11.21 | 15.34 | 20.72 | 32.61 | 12.41 | 172.68 | 29.50 |
Beneish M-Score |
(2.58) | (2.55) | (2.45) | (2.70) | (2.65) | (2.39) | (2.17) | (2.91) | (2.15) | (2.48) |
P/Operating CF |
37.81 | 36.62 | 21.90 | 33.19 | 29.47 | 43.09 | 41.75 | 23.42 | 33.88 | 45.89 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 82 |
P/B ratio |
3.29 | 3.62 | 2.62 | 3.29 | 3.74 | 3.49 | 3.42 | 3.45 | 4.26 | 5.25 |
Price to Tangible BV |
3.71 | 4.83 | 3.48 | 4.50 | 5.00 | 4.61 | 6.91 | 6.99 | 7.31 | 7.81 |
EV/Sales |
1.36 | 1.45 | 0.92 | 1.19 | 1.69 | 1.33 | 1.30 | 1.07 | 1.51 | 2.19 |
EV/EBITDA |
9.90 | 10.15 | 6.42 | 8.29 | 11.38 | 9.50 | 9.86 | 13.05 | 10.67 | 14.36 |
EV/Operating CF |
12.30 | 13.00 | 9.16 | 8.79 | 12.29 | 14.18 | 18.66 | 9.17 | 34.54 | 20.34 |
EV/FCF |
16.77 | 15.74 | 13.06 | 11.26 | 15.25 | 21.02 | 35.00 | 13.21 | 184.07 | 30.88 |
Quick Ratio |
1.02 | 0.91 | 0.84 | 0.82 | 1.21 | 1.01 | 0.68 | 0.65 | 0.66 | 0.98 |
Current Ratio |
1.78 | 1.57 | 1.54 | 1.50 | 1.88 | 1.74 | 1.27 | 1.18 | 1.31 | 1.76 |
Net Debt/EBITDA |
0.09 | 0.03 | 0.03 | 0.04 | (0.06) | 0.13 | 0.67 | 0.78 | 0.66 | 0.64 |
Debt/Assets |
10.68% | 9.13% | 8.61% | 8.14% | 16.23% | 15.34% | 16.74% | 15.37% | 17.26% | 20.26% |
Debt/Equity |
0.22 | 0.20 | 0.20 | 0.19 | 0.41 | 0.40 | 0.51 | 0.50 | 0.48 | 0.51 |
Asset Turnover |
1.16 | 1.23 | 1.28 | 1.22 | 0.94 | 1.04 | 1.04 | 1.09 | 1.07 | 1.03 |
Operating CF/Net income |
1.39 | 2.28 | 1.11 | 1.41 | 1.52 | 1.06 | 0.91 | 5.40 | 0.38 | 1.27 |
Capex/Depreciation |
(0.98) | (0.68) | (1.16) | (1.04) | (0.78) | (1.11) | (1.17) | (1.18) | (1.13) | (1.12) |
Interest Coverage |
27.25 | 28.81 | 24.44 | 24.77 | 22.69 | 24.38 | 14.72 | 4.70 | 10.14 | 12.23 |
| 18.68% | 13.03% | 26.07% | 27.03% | 20.50% | 23.65% | 22.64% | 7.40% | 37.21% | 23.01% | |
| 9.25% | 6.04% | 11.53% | 11.65% | 8.45% | 9.20% | 7.97% | 2.36% | 12.42% | 8.68% | |
ROIC |
15.88% | 17.69% | 20.79% | 19.62% | 16.12% | 17.83% | 14.69% | 9.11% | 16.18% | 15.08% |
Return on Tangible Assets |
19.41% | 13.92% | 28.43% | 30.66% | 18.22% | 22.09% | 25.15% | 8.60% | 39.96% | 19.92% |
Average Days of Receivables |
63.06 | 64.65 | 59.36 | 56.83 | 70.38 | 60.63 | 67.63 | 59.82 | 55.45 | 63.07 |
Research and Development Expense of Revenue |
3.64% | 3.69% | 3.79% | 4.25% | 4.57% | 4.54% | 4.55% | 4.40% | 4.29% | 4.15% |
Selling, General and Administrative Expense of Revenue |
11.99% | 11.89% | 10.25% | 10.41% | 10.73% | 9.88% | 9.57% | 9.78% | 9.60% | 9.28% |
Intangible Assets out of Total Assets |
0.05 | 0.11 | 0.11 | 0.12 | 0.10 | 0.09 | 0.17 | 0.16 | 0.15 | 0.13 |
Share Based Compensation of Revenue |
0.18% | 0.20% | 0.22% | 0.21% | 0.16% | 0.15% | 0.00% | 0.00% | 0.00% | 0.00% |
Graham Net Nets |
(0.01) | (0.03) | (0.05) | (0.07) | (0.05) | (0.07) | (0.17) | (0.20) | (0.11) | (0.05) |
Graham Number |
88.81 | 80.97 | 123.16 | 133.22 | 128.34 | 143.86 | 155.26 | 90.52 | 228.42 | 212.39 |
Earnings Yield |
5.91% | 3.36% | 9.91% | 8.09% | 5.31% | 6.75% | 6.31% | 2.16% | 8.13% | 4.04% |
Free Cash Flow Yield |
6.02% | 6.37% | 7.70% | 8.92% | 6.52% | 4.83% | 3.07% | 8.06% | 0.58% | 3.39% |
Revenue per Share |
103.58 | 122.54 | 146.55 | 151.68 | 133.68 | 166.12 | 198.40 | 240.40 | 246.76 | 244.16 |
Operating CF per Share |
11.47 | 13.66 | 14.66 | 20.47 | 18.37 | 15.60 | 13.87 | 27.99 | 10.76 | 26.26 |
Capex per Share |
(3.06) | (2.38) | (4.37) | (4.50) | (3.56) | (5.08) | (6.47) | (8.56) | (8.74) | (8.96) |
Free Cash Flow per Share |
8.41 | 11.28 | 10.29 | 15.97 | 14.80 | 10.53 | 7.39 | 19.43 | 2.02 | 17.30 |
Cash per Share |
8.16 | 9.40 | 9.40 | 9.46 | 26.06 | 22.04 | 18.18 | 19.34 | 16.38 | 26.17 |
Shareholders Equity per Share |
42.44 | 48.97 | 50.92 | 54.47 | 60.65 | 62.48 | 70.44 | 69.89 | 81.82 | 97.23 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
42.44 | 48.97 | 50.92 | 54.47 | 60.65 | 62.48 | 70.44 | 69.89 | 81.82 | 97.23 |
Free Cash Flow |
1,422.00 | 1,881.00 | 1,669.00 | 2,481.00 | 2,194.00 | 1,522.00 | 1,046.00 | 2,753.00 | 279.00 | 2,386.00 |
Working Capital |
3,382.00 | 3,251.00 | 3,434.00 | 3,127.00 | 5,562.00 | 5,225.00 | 3,030.00 | 2,295.00 | 3,518.00 | 7,315.00 |
Capital Expenditures |
(517.00) | (396.00) | (709.00) | (700.00) | (528.00) | (734.00) | (916.00) | (1,213.00) | (1,208.00) | (1,235.00) |
Net Current Asset Value |
(130.00) | (983.00) | (985.00) | (1,885.00) | (1,738.00) | (2,366.00) | (5,881.00) | (6,903.00) | (5,480.00) | (3,659.00) |
EV/EBIT |
12.69 | 12.68 | 7.82 | 10.35 | 14.75 | 11.82 | 12.50 | 20.64 | 13.70 | 18.30 |
Capex to Sales |
0.03 | 0.02 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 |
Price to Operating Income |
12.57 | 12.65 | 7.78 | 10.30 | 14.83 | 11.66 | 11.64 | 19.41 | 12.85 | 17.49 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.14 | 0.15 | 0.15 | 0.16 | 0.16 | 0.15 | 0.14 | 0.16 | 0.17 | 0.16 |
Cash ROIC |
14.00% | 16.53% | 14.61% | 21.50% | 13.28% | 9.60% | 5.94% | 15.67% | 1.47% | 9.98% |
Accounts Receivable Turnover |
5.99 | 6.15 | 6.35 | 6.26 | 5.29 | 6.15 | 6.11 | 6.32 | 6.34 | 6.12 |
Accounts Payable Turnover |
7.33 | 6.92 | 6.68 | 6.57 | 5.57 | 6.28 | 5.87 | 6.07 | 6.25 | 6.49 |
Inventory Turnover |
4.85 | 5.25 | 5.21 | 4.86 | 4.32 | 4.71 | 4.29 | 4.58 | 4.49 | 4.35 |
Average Days of Payables |
51.85 | 61.41 | 57.12 | 52.58 | 69.00 | 60.17 | 72.68 | 60.23 | 56.19 | 55.14 |
Days of Inventory on Hand |
74.81 | 75.39 | 76.08 | 72.33 | 83.81 | 86.74 | 95.77 | 80.26 | 81.67 | 84.48 |
Average Receivables |
2,922.50 | 3,321.50 | 3,742.00 | 3,768.00 | 3,745.00 | 3,905.00 | 4,596.00 | 5,392.50 | 5,382.00 | 5,499.50 |
Average Payables |
1,780.00 | 2,216.50 | 2,700.50 | 2,678.00 | 2,677.00 | 2,920.50 | 3,636.50 | 4,256.00 | 4,105.50 | 3,875.50 |
Average Inventory |
2,691.00 | 2,920.50 | 3,462.50 | 3,622.50 | 3,455.50 | 3,890.00 | 4,979.00 | 5,640.00 | 5,709.50 | 5,782.00 |
Average Assets |
15,072.50 | 16,543.00 | 18,568.50 | 19,399.50 | 21,180.50 | 23,167.00 | 27,004.50 | 31,152.00 | 31,772.50 | 32,766.00 |
Average Common Equity |
7,462.00 | 7,669.00 | 8,211.50 | 8,362.00 | 8,727.00 | 9,012.00 | 9,501.00 | 9,935.50 | 10,606.00 | 12,358.00 |
Columns are period end dates