Saturday 17 October 2026 Export CMI’s income statement to Excel — free account

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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Market cap: $73.3B
P/E: 27.0×
Fwd P/E: 23.2×
Dividend yield: 1.54%
F-score: 6/9
Altman Z: 4.62
Beneish M: −2.48
Dividend safety: 82/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Impairment Nov 6, 2025

All filings →

Insider Decisions trades per month

Total sells 36.71

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	3	—	—	4	1	—	8	—	—	1	—	—

Insider Ownership 0.49%

Capital & Financial Ratios $m

Market Cap 73,340.00

Revenue 34,708.00

Net Income 2,827.00

Free Cash Flow 3,367.00

Net Debt 2,964.00

Current Ratio 1.73

Debt/Equity 0.50

P/E ratio 27.03

Fwd P/E 23.20

P/S ratio 2.11

P/B ratio 5.27

Past 5Y EPS Growth 11.29%

This Y EPS Growth 23.74%

Next Y EPS Growth 17.67%

Next Y revenue growth 11.88%

Next 5Y EPS Growth 19.23%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 89.38%

10-year low 10-year high

P/S against its own 10 years 93.07%

10-year low 10-year high

P/B against its own 10 years 92.70%

10-year low 10-year high

EV/Sales against its own 10 years 92.85%

10-year low 10-year high

EV/FCF against its own 10 years 67.60%

10-year low 10-year high

Dividends

Payout Ratio 0.42

Annual Dividend Rate 8.20

Annual Dividend Yield 1.54%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	8.36	2.00 2.00 2.20
2025	7.64	1.82 1.82 2.00 2.00
2024	7.00	1.68 1.68 1.82 1.82
2023	6.50	1.57 1.57 1.68 1.68
2022	6.04	1.45 1.45 1.57 1.57
2021	5.60	1.35 1.35 1.45 1.45
2020	5.28	1.31 1.31 1.31 1.35
2019	4.90	1.14 1.14 1.31 1.31
2018	4.44	1.08 1.08 1.14 1.14
2017	4.21	1.03 1.03 1.08 1.08
2016	4.00	0.98 0.98 1.03 1.03

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	2,741	2,264	3,609	3,924
Receivables	5,583	5,181	5,818	6,585
Inventory	5,677	5,742	5,822	6,397
Other	—	—	—	—
	15,198	14,752	16,925	18,434

	2023	2024	2025	Q'26
Payables	4,260	3,951	3,800	4,654
ST’ Debt	118	660	94	151
Other	—	—	—	—
	12,903	11,234	9,610	10,673

Compound Annual Growth %

	10y	5y	3y
Sales	5.83%	11.19%	6.25%
Cash Flow	5.78%	5.87%	22.66%
Earnings	7.35%	9.71%	9.74%
Book Value	5.63%	8.33%	10.39%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	8,398	9,457	—	—	—
’25	8,174	8,643	8,317	8,536	33,670
’24	8,403	8,796	8,456	8,447	34,102
’23	8,453	8,638	8,431	8,543	34,065
’22	6,385	6,586	7,333	7,770	28,074
’21	6,092	6,111	5,968	5,850	24,021
’20	5,011	3,852	5,118	5,830	19,811

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	309	1,499	—	—	—
’25	(3)	785	1,305	1,534	3,621
’24	276	(851)	640	1,422	1,487
’23	495	483	1,529	1,459	3,966
’22	164	599	382	817	1,962
’21	339	616	569	732	2,256
’20	379	(22)	1,223	1,142	2,722

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	120	1,250	—	—	—
’25	(165)	554	1,007	990	2,386
’24	107	(1,091)	381	882	279
’23	302	262	1,249	940	2,753
’22	60	452	180	354	1,046
’21	252	511	419	340	1,522
’20	304	(99)	1,107	882	2,194

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	4.71	6.73	—	—	—
’25	5.96	6.43	3.86	4.27	20.50
’24	14.03	5.26	5.86	3.02	28.37
’23	5.55	5.05	4.59	(10.01)	5.15
’22	2.92	4.94	2.82	4.43	15.12
’21	4.07	4.10	3.69	2.73	14.61
’20	3.41	1.86	3.36	3.36	12.01

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	79.88	134.06	124.40	130.03	101.03	203.38	184.28	203.18	226.53	260.02	Analyst estimates 2026–2028 Powerpack
	High	147.10	181.79	194.18	186.73	244.67	277.09	254.09	265.28	387.90	526.50
People
People	Employees	55,400	58,600	62,610	61,615	57,825	59,900	73,600	75,500	69,600	67,400
	Revenue/emp, $m	0.32	0.35	0.38	0.38	0.34	0.40	0.38	0.45	0.49	0.50
Income, $m
Income, $m	Revenue	17,509	20,428	23,771	23,571	19,811	24,021	28,074	34,065	34,102	33,670
	Gross margin, %	25.46	24.97	24.13	25.37	24.70	23.71	23.93	24.22	24.75	25.29
	EBT	1,930	2,365	2,753	2,834	2,338	2,751	2,819	1,626	4,903	3,963
	EBT margin, %	11.02	11.58	11.58	12.02	11.80	11.45	10.04	4.77	14.38	11.77
	Net income	1,456	994	2,187	2,268	1,811	2,164	2,183	840	4,068	2,957
	Depreciation	530	583	611	672	673	662	784	1,024	1,065	1,105
Per share, $
Per share, $	Revenue	103.58	122.54	146.55	151.68	133.68	166.12	198.40	240.40	246.76	244.16
	Earnings	8.25	5.99	13.20	14.54	12.07	14.74	15.20	5.19	28.55	20.62
	Cash flow	11.47	13.66	14.66	20.47	18.37	15.60	13.87	27.99	10.76	26.26
	Capex	(3.06)	(2.38)	(4.37)	(4.50)	(3.56)	(5.08)	(6.47)	(8.56)	(8.74)	(8.96)
	Free cash flow	8.41	11.28	10.29	15.97	14.80	10.53	7.39	19.43	2.02	17.30
	Book value	42.44	48.97	50.92	54.47	60.65	62.48	70.44	69.89	81.82	97.23
	Shares, m	169	167	162	155	148	145	142	142	138	138
Valuation, ×
Valuation, ×	P/E	16.92	29.76	10.09	12.36	18.82	14.82	15.85	46.29	12.30	24.76
	P/S	1.35	1.44	0.91	1.18	1.70	1.31	1.21	1.00	1.41	2.09
	P/B	3.29	3.62	2.62	3.29	3.74	3.49	3.42	3.45	4.26	5.25
	EV/Sales	1.36	1.45	0.92	1.19	1.69	1.33	1.30	1.07	1.51	2.19
	EV/FCF	16.77	15.74	13.06	11.26	15.25	21.02	35.00	13.21	184.07	30.88
Cash, $m
Cash, $m	Operating cash flow	1,939	2,277	2,378	3,181	2,722	2,256	1,962	3,966	1,487	3,621
	Capex	(517)	(396)	(709)	(700)	(528)	(734)	(916)	(1,213)	(1,208)	(1,235)
	Free cash flow	1,422	1,881	1,669	2,481	2,194	1,522	1,046	2,753	279	2,386
Balance, $m
Balance, $m	Working capital	3,382	3,251	3,434	3,127	5,562	5,225	3,030	2,295	3,518	7,315
	Total debt	1,603	1,651	1,642	1,607	3,672	3,638	5,071	4,920	5,444	6,886
	Net debt	223	84	117	137	(190)	451	2,498	2,179	3,180	3,277
	Shareholders’ equity	7,174	8,164	8,259	8,465	8,989	9,035	9,967	9,904	11,308	13,408
Returns, %
Returns, %	ROA	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
	ROE	18.68	13.03	26.07	27.03	20.50	23.65	22.64	7.40	37.21	23.01

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
ETN Eaton Corporation, PLC	$156.3B	39.7×	34.3×	+21.39% (above 0%: growing)	−16.27% (below 0%: shrinking)	+21.53% (above 0%: growing)	33.47%	16.32%	Compare
PH Parker-Hannifin Corporation	$121.3B	33.3×	28.8×	+9.77% (above 0%: growing)	+19.45% (above 0%: growing)	+17.22% (above 0%: growing)	39.04%	23.86%	Compare
EMR Emerson Electric Co.	$90.5B	35.3×	28.3×	+7.03% (above 0%: growing)	+23.08% (above 0%: growing)	+35.31% (above 0%: growing)	54.48%	26.92%	Compare
ITW Illinois Tool Works Inc.	$77.2B	24.6×	22.3×	+6.12% (above 0%: growing)	+10.47% (above 0%: growing)	+39.74% (above 0%: growing)	44.13%	26.67%	Compare
CMI Cummins Inc.	$73.3B	27.0×	23.2×	+9.42% (above 0%: growing)	+4.64% (above 0%: growing)	+125.63% (above 0%: growing)	26.07%	13.52%
AME AMETEK, Inc.	$57.0B	36.1×	31.3×	+14.98% (above 0%: growing)	+14.84% (above 0%: growing)	+36.95% (above 0%: growing)	35.95%	25.84%	Compare
ROK Rockwell Automation, Inc.	$46.9B	39.9×	36.1×	+7.88% (above 0%: growing)	+40.38% (above 0%: growing)	+33.74% (above 0%: growing)	49.46%	21.75%	Compare
IR Ingersoll Rand Inc.	$30.2B	31.7×	29.8×	+8.52% (above 0%: growing)	n/m	+28.33% (above 0%: growing)	42.10%	18.56%	Compare
OTIS Otis Worldwide Corporation	$26.8B	18.2×	17.1×	+7.34% (above 0%: growing)	+12.00% (above 0%: growing)	+4.69% (above 0%: growing)	29.44%	14.90%	Compare
Median of peers	$67.1B	34.3×	29.3×	+8.20%	+14.84%	+31.04%	40.57%	22.81%

All 76 Specialty Industrial Machinery stocks →

Cummins Inc. (CMI) key facts

Concern: Cummins Inc.’s revenue for fiscal 2025 (year ended December 2025) was $33.7 billion, down 1.27% from fiscal 2024.
Concern: Net income was $3.0 billion, or $20.62 per share (basic), a net margin of 8.44%.
Cummins Inc. (CMI) is a Specialty Industrial Machinery company in the Industrials sector, listed on the New York Stock Exchange.
As of October 16, 2026, CMI traded at $531.33, a market capitalization of $73.3 billion.
At that price the stock trades at 27.0× trailing-twelve-month earnings and 2.1× sales; its P/E is higher than 89% of its own readings over the past ten years.
Cummins Inc. pays an annual dividend of $8.20 per share, a yield of 1.54%, with a payout ratio of 41.9%.
Return on equity was 23.0% and debt-to-equity 0.50.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 4.62 (safe zone) for fiscal 2025.