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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.

Revenue
+13.5%
EPS
+113.7%
Free cash flow
+9.43%
Total debt
−2.27%

Quarter to September 2026, against a year earlier

447.01 24.83 −5.26%
Market cap
$61.8B
P/E
18.6×
Fwd P/E
17.8×
Dividend yield
1.83%
F-score
6/9
Altman Z
4.62
Beneish M
−2.48
Dividend safety
82/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
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Cummins Inc. (CMI) Debt to equity

Alert me on Debt to equity

Cummins Inc.'s debt to equity at the end of the quarter to 30 September 2026 was 0.5×, down 0.0× from fiscal 2025 (0.5×). Over the past ten years it has ranged from 0.2× (fiscal 2019) to 0.5× (fiscal 2025) — the current reading is the highest in ten years. That is above the Specialty Industrial Machinery industry median of 0.3× and above the Industrials sector median of 0.3×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 0.5× 6.69%
FY2024 0.5× (3.10%)
FY2023 0.5× (2.36%)
FY2022 0.5× 26.35%
FY2021 0.4× (1.42%)
FY2020 0.4× 115.23%
FY2019 0.2× (4.53%)
FY2018 0.2× (1.68%)
FY2017 0.2× (9.49%)
FY2016 0.2× 7.20%

Quarterly newest first

Period Debt to equity Change
Sep 2026 0.5× (4.46%)
Jun 2026 0.5× (3.83%)
Mar 2026 0.5× 0.27%
Dec 2025 0.5× (3.15%)
43 more quarters

Against its own ten years

Low 0.2× High 0.5×
Ten-year median 0.4×
Current reading's percentile 100

Debt to equity against peers

Company Debt to equity
OTIS Otis Worldwide Corporation compare −1.6×
IR Ingersoll Rand Inc. compare 0.4×
CMI Cummins Inc. 0.5×
AME AMETEK, Inc. compare 0.6×
EMR Emerson Electric Co. compare 0.6×
ROK Rockwell Automation, Inc. compare 0.7×
PH Parker-Hannifin Corporation compare 0.8×
ETN Eaton Corporation, PLC compare 0.9×
ITW Illinois Tool Works Inc. compare 3.0×
Specialty Industrial Machinery industry median 0.3×
Industrials sector median 0.3×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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