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Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. CMI Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Cummins (CMI)

Market Price (9/18/2025): $412.27 | Market Cap: $56.8 Bil
Sector: Industrials | Industry: Construction Machinery & Heavy Transportation Equipment

Cummins (CMI)

Market Price (9/18/2025): $412.27
Market Cap: $56.8 Bil
Sector: Industrials
Industry: Construction Machinery & Heavy Transportation Equipment

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.9%		 Trading close to highs
Dist 52W High is -0.9%, Dist 3Y High is -0.9%		 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.3%, Rev Chg QQuarterly Revenue Change % is -1.7%
1 Attractive cash flow generation
CFO LTM is 2.8 Bil		  
2 Low stock price volatility
Vol 12M is 30%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.9%
1 Attractive cash flow generation
CFO LTM is 2.8 Bil
2 Low stock price volatility
Vol 12M is 30%
3 Trading close to highs
Dist 52W High is -0.9%, Dist 3Y High is -0.9%
4 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.3%, Rev Chg QQuarterly Revenue Change % is -1.7%

Market Valuation

 9/18/252024202320222021
Share Price CYE$412.27$343.24$230.48$226.58$198.61
Market Cap CYE ($ Bil)56.847.132.732.128.4
Total Debt ($ Bil)8.77.67.28.44.6
Total Cash ($ Bil)3.12.32.72.63.2
Enterprise Value ($ Bil)62.454.739.940.533.0
Valuation Ratios     
P/S TTM1.71.41.01.21.3
P/EBIT TTM13.09.117.011.411.0
P/E TTM19.312.246.215.914.8
Sector Ratios     
P/S TTM (Sector)1.71.41.41.11.6
P/EBIT TTM (Sector)11.310.210.08.312.1
P/E TTM (Sector)16.613.713.911.215.6
 9/18/2520242023
Share Price CYE$412.27$343.24$230.48
Market Cap CYE ($ Bil)56.847.132.7
Total Debt ($ Bil)8.77.67.2
Total Cash ($ Bil)3.12.32.7
Enterprise Value ($ Bil)62.454.739.9
Valuation Ratios   
P/S TTM1.71.41.0
P/EBIT TTM13.09.117.0
P/E TTM19.312.246.2
Sector Ratios   
P/S TTM (Sector)1.71.41.4
P/EBIT TTM (Sector)11.310.210.0
P/E TTM (Sector)16.613.713.9

Market Cap Chart

Business Description

Cummins Inc. designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and New Power. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
CMI Return31%-2%14%2%49%20%165%
Peers Return23%22%-2%29%15%3%124%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: CAT, GWW, XYL, IR, FTV. See CMI Returns vs. Peers.
[3] 2025 data is for the year up to 9/17/2025 (YTD)

Better Bets than Cummins (CMI)

 CMIBetter Performance than CMI
MetricValueIndustry (Construction Machinery & Heavy)
Rev Chg LTM-1.3%WAB (3.4%), OSK (0.2%), FSS (9.1%), GATX (11.7%), GBX (0.7%)
Rev Chg 3Y Avg11.6%FSS (15.2%), TRN (22.3%), GBX (12.9%)
Op Mgn LTM11.1%CAT (18.2%), PCAR (13.5%), WAB (16.2%), FSS (15.6%), GATX (31.2%)
CFO/Rev LTM8.4%CAT (18.0%), PCAR (12.6%), WAB (15.8%), FSS (13.0%), GATX (39.0%)
FCF/Rev LTM4.9%CAT (12.3%), PCAR (7.3%), WAB (13.7%), OSK (5.7%), FSS (11.5%)
Total Yield6.9%PCAR (10.7%), OSK (9.0%), TEX (8.4%), TRN (10.2%), GBX (18.9%)
 CMIBetter Performance than CMI
MetricValueAll Other Sectors
Rev Chg LTM-1.3%NVDA (71.6%), MSFT (14.9%), AAPL (6.0%), GOOGL (13.1%), AMZN (10.9%)
Rev Chg 3Y Avg11.6%NVDA (92.0%), MSFT (12.5%), META (13.0%), AVGO (24.0%), TSLA (12.9%)
Op Mgn LTM11.1%NVDA (58.1%), MSFT (45.6%), AAPL (31.9%), GOOGL (32.7%), AMZN (11.4%)
CFO/Rev LTM8.4%NVDA (46.6%), MSFT (48.3%), AAPL (26.6%), GOOGL (36.0%), AMZN (18.1%)
FCF/Rev LTM4.9%NVDA (43.6%), MSFT (25.4%), AAPL (23.5%), GOOGL (18.0%), META (30.7%)
Total Yield6.9%XOM (9.7%), JNJ (8.1%), BAC (7.1%), BABA (37.9%), UNH (9.4%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Cummins Earnings Notes  
2Cummins vs AT&T: Which Is A Better Investment?Counter-Intuitive Comparisons 
3Cummins vs United Rentals: Which Is A Better Investment?Counter-Intuitive Comparisons 
4Cummins vs GATX: Which Is A Better Investment?Counter-Intuitive Comparisons 
5Day 8 of Gains Streak for Cummins Stock with 14% Return (vs. 18% YTD) [8/13/2025]Notification 
6How Does CMI Stack Up Against Its Peers?Peer Comparison 
7Day 7 of Gains Streak for Cummins Stock with 12% Return (vs. 16% YTD) [8/12/2025]Notification 
8Better Bet Than CMI Stock: Pay Less Than Cummins To Get More From OKE, CCL   
9Better Bet Than CMI Stock: Pay Less Than Cummins To Get More From GTLS, HURN   
10Day 6 of Gains Streak for Cummins Stock with 9.1% Return (vs. 13% YTD) [8/11/2025]Notification 
11ARTICLES  
12CMI Stock Up 14% after 8-Day Win Streak August 14th, 2025
13CMI Stock Up 12% after 7-Day Win Streak August 13th, 2025
14CMI Stock Up 9.1% after 6-Day Win Streak August 12th, 2025
15CMI Stock Up 8.8% after 5-Day Win Streak August 9th, 2025
16CMI Jumps 15% in a Month, But Does GATX Offer Better Fundamentals? August 7th, 2025
Title
0DASHBOARDS
1CMI Stock Up 14% after 8-Day Win Streak
2CMI Stock Up 12% after 7-Day Win Streak
3CMI Stock Up 9.1% after 6-Day Win Streak
4CMI Stock Up 8.8% after 5-Day Win Streak
5CMI Jumps 15% in a Month, But Does GATX Offer Better Fundamentals?
6ARTICLES
7Cummins Earnings Notes
8Cummins vs AT&T: Which Is A Better Investment?
9Cummins vs United Rentals: Which Is A Better Investment?
10Cummins vs GATX: Which Is A Better Investment?
11Day 8 of Gains Streak for Cummins Stock with 14% Return (vs. 18% YTD) [8/13/2025]
12How Does CMI Stack Up Against Its Peers?
13Day 7 of Gains Streak for Cummins Stock with 12% Return (vs. 16% YTD) [8/12/2025]
14Better Bet Than CMI Stock: Pay Less Than Cummins To Get More From OKE, CCL 
15Better Bet Than CMI Stock: Pay Less Than Cummins To Get More From GTLS, HURN 
16Day 6 of Gains Streak for Cummins Stock with 9.1% Return (vs. 13% YTD) [8/11/2025]

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
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4ATHAAthira Pharma892.1%544.3%
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7HSDTHelius Medical Technologies232.1%-95.5%
8CHEKCheck-Cap222.2%134.4%
9APLMApollomics197.8%89.1%
10SPRCSciSparc147.0%1141.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1CURXCuranex Pharmaceuticals-80.5%148.4%
2ATYRaTyr Pharma-80.4%-71.7%
3NAKAKindly MD-70.2% 
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9REXREX American Resources-50.7%44.3%
10RBNERobin Energy-42.6% 

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10BCTXBriaCell Therapeutics1032.4%-89.8%

1 Month Top Losers

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2STFSStar Fashion Culture-92.3%-97.9%
3ELPWElong Power-91.1%-76.9%
4NXTTNext Technology-90.1%-95.4%
5EPIXESSA Pharma-89.4%-8.9%
6NAKAKindly MD-88.1% 
7BINIBollinger Innovations-87.6%-100.0%
8JEM707 Cayman-87.4%-98.2%
9YAASYouxin Technology-83.3%-98.4%
10NEONNeonode-82.5%-51.0%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1ECDAECD Automotive Design3347.2%307.9%
2BDSXBiodesix1090.6%-79.7%
3CLSDClearside Biomedical987.7%-74.7%
4ATHAAthira Pharma892.1%544.3%
5SDOTSadot690.6%-79.9%
6ATCHAtlasClear684.9%-83.1%
7HSDTHelius Medical Technologies232.1%-95.5%
8CHEKCheck-Cap222.2%134.4%
9APLMApollomics197.8%89.1%
10SPRCSciSparc147.0%1141.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1CURXCuranex Pharmaceuticals-80.5%148.4%
2ATYRaTyr Pharma-80.4%-71.7%
3NAKAKindly MD-70.2% 
4BNGOBionano Genomics-64.0%-89.8%
5XAGELongevity Health-57.6%-86.1%
6FAASDigiAsia-55.4%-88.0%
7ASSTStrive-54.5%650.3%
8VCIGVCI Global-51.0%-98.9%
9REXREX American Resources-50.7%44.3%
10RBNERobin Energy-42.6% 

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Cummins

Financials

CMICATGWWXYLIRFTVMedian
NameCummins Caterpil.W.W. Gra.Xylem Ingersol.Fortive  
Mkt Price411.78450.66997.93140.9979.0048.03276.38
Mkt Cap56.7211.747.934.331.816.341.1
Rev LTM33,72063,13917,4818,5987,2826,14813,040
Op Inc LTM3,75511,5102,6691,1041,4611,0582,065
FCF LTM1,6527,7401,4168891,3711,3861,401
FCF 3Y Avg1,3188,3491,5096631,1601,2921,305
CFO LTM2,84411,3732,0621,2071,4921,5141,788
CFO 3Y Avg2,47811,5171,9689371,2821,4091,689

Growth & Margins

CMICATGWWXYLIRFTVMedian
NameCummins Caterpil.W.W. Gra.Xylem Ingersol.Fortive  
Rev Chg LTM-1.3%-4.9%4.4%8.2%5.3%-0.1%2.1%
Rev Chg 3Y Avg11.6%5.8%7.2%19.0%10.8%3.7%9.0%
Rev Chg Q-1.7%-0.7%5.6%1.8%2.8%-2.2%0.5%
QoQ Delta Rev Chg LTM-0.5%-0.2%1.4%0.4%0.6%-0.5%0.1%
Op Mgn LTM11.1%18.2%15.3%12.8%20.1%17.2%16.2%
Op Mgn 3Y Avg10.1%18.8%15.3%10.8%18.1%17.9%16.6%
QoQ Delta Op Mgn LTM0.5%-0.9%-0.0%0.3%-0.0%-1.2%-0.0%
CFO/Rev LTM8.4%18.0%11.8%14.0%20.5%24.6%16.0%
CFO/Rev 3Y Avg7.4%17.8%11.7%12.5%18.7%23.1%15.1%
FCF/Rev LTM4.9%12.3%8.1%10.3%18.8%22.5%11.3%
FCF/Rev 3Y Avg3.9%12.9%9.0%8.8%16.9%21.2%10.9%

Valuation

CMICATGWWXYLIRFTVMedian
NameCummins Caterpil.W.W. Gra.Xylem Ingersol.Fortive  
Mkt Cap56.7211.747.934.331.816.341.1
P/S1.73.42.74.04.42.73.0
P/EBIT12.917.317.829.923.515.817.6
P/E19.322.424.937.838.721.223.7
P/CFO20.018.623.228.421.410.820.7
Total Yield6.9%5.7%4.5%3.7%2.7%5.4%4.9%
Dividend Yield1.8%1.3%0.5%1.1%0.1%0.7%0.9%
FCF Yield 3Y Avg3.3%5.4%3.4%2.3%3.6%5.8%3.5%
D/E0.20.20.10.10.20.30.2
Net D/E0.10.20.00.00.10.20.1

Returns

CMICATGWWXYLIRFTVMedian
NameCummins Caterpil.W.W. Gra.Xylem Ingersol.Fortive  
1M Rtn3.0%9.2%2.0%0.4%0.1%0.7%1.4%
3M Rtn31.4%25.7%-4.1%13.0%-2.2%-10.1%5.4%
6M Rtn27.2%34.2%1.9%16.9%-3.8%-16.5%9.4%
12M Rtn39.4%29.4%-0.8%7.2%-15.9%-15.7%3.2%
3Y Rtn109.8%165.3%95.6%56.7%67.9%1.2%81.8%
1M Excs Rtn0.6%6.9%-0.3%-2.0%-2.2%-1.6%-1.0%
3M Excs Rtn21.2%16.1%-14.6%2.4%-12.3%-20.1%-4.9%
6M Excs Rtn11.5%17.4%-14.7%-0.3%-20.7%-33.1%-7.5%
12M Excs Rtn21.8%15.3%-16.1%-8.3%-30.5%-31.8%-12.2%
3Y Excs Rtn41.2%86.9%20.5%-10.9%-6.8%-65.7%6.9%

Comparison Analyses

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date8/5/20255/5/20252/11/202511/5/20248/1/20245/2/20242/12/202411/2/20238/3/20235/2/20232/14/202311/4/2022
Key Financials Quarterly            
Total Revenue8,6438,1748,4478,4568,7968,4038,5438,4318,6388,4537,7707,333
Ebitda1,5911,4631,0221,3921,3492,575-8741,2321,3051,3621,105885
Operating Income1,1081,020664963942830717833864938670556
Net Income8908244188097261,993-1,431656720790631400
EPS6.465.993.045.905.3014.10-10.084.635.085.584.472.83
Key Financials TTM            
Total Revenue TTM33,72033,87334,10234,19834,17334,01534,06533,29232,19430,14228,07426,154
Ebitda TTM5,4685,2266,3384,4424,2824,2383,0255,0044,6574,4083,8023,402
Operating Income TTM3,7553,5893,3993,4523,3223,2443,3523,3053,0282,9692,5802,289
Net Income TTM2,9412,7773,9462,0971,9441,9387352,7972,5412,5232,1511,914
Growth Rates Quarterly            
Total Revenue Growth-1.7%-2.7%-1.1%0.3%1.8%-0.6%9.9%15.0%31.2%32.4%32.8%22.9%
EBITDA Growth17.9%-43.2%216.9%13.0%3.4%89.1%-179.1%39.2%23.6%80.2%56.7%2.5%
Operating Income Growth17.6%22.9%-7.4%15.6%9.0%-11.5%7.0%49.8%7.3%70.9%76.8%-3.0%
Net Income Growth22.6%-58.7%129.2%23.3%0.8%152.3%-326.8%64.0%2.6%89.0%60.2%-25.1%
Margins Quarterly            
EBITDA Margin18.4%17.9%12.1%16.5%15.3%30.6%-10.2%14.6%15.1%16.1%14.2%12.1%
Operating Income Margin12.8%12.5%7.9%11.4%10.7%9.9%8.4%9.9%10.0%11.1%8.6%7.6%
Net Income Margin10.3%10.1%4.9%9.6%8.3%23.7%-16.8%7.8%8.3%9.3%8.1%5.5%
Cash & Debt            
Total Cash3,0742,1582,2642,2512,1833,0512,7412,8392,3142,4392,5732,965
Total Debt8,6848,0357,5988,1137,9677,2967,2087,9708,2218,2498,3558,588
Net Debt / (Cash)5,6105,8775,3345,8625,7844,2454,4675,1315,9075,8105,7825,623
Cash Flows Quarterly            
FCF from Operations785-31,422640-8512761,4591,529483495817382
Cash Flows TTM            
FCF from Operations TTM2,8441,2081,4871,5242,4133,7473,9663,3242,1772,2931,9621,877
Returns to Shareholders Quarterly            
Dividends251251250250230239238238223222222222
Share Repurchases-0-0-0-0-0-0-0-0-0-0423
Return on Invested Capital (ROIC) Quarterly            
ROIC59.8%52.8%33.5%53.1%50.1%71.4%64.2%51.0%45.4%50.6%38.4%26.6%
Return on Invested Capital (ROIC) TTM            
ROIC TTM50.7%46.5%52.9%43.6%41.9%55.9%38.8%51.0%39.6%40.1%34.6%30.9%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Components13,4099,7367,6656,0245,253
Engine11,68410,9459,9548,0227,570
Distribution10,2498,9297,7727,1368,040
Power Systems5,6735,0334,4153,6312,670
Accelera3541981167238
Intersegment sales-7,304-6,767-5,901-5,074 
Total34,06528,07424,02119,81123,571


Price Behavior

CMI Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta1.531.451.411.221.180.99
Up Beta1.471.241.401.151.070.94
Down Beta1.981.921.911.261.201.00
Up Capture186%221%169%138%159%112%
Bmk +ve Days10223571142415
Stock +ve Days14294269133404
Down Capture83%45%80%121%113%99%
Bmk -ve Days11192754106334
Stock -ve Days7132156115346

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity1,493,389
Short Interest: % Change Since 8152025-17.6%
Average Daily Volume651,329
Days-to-Cover Short Interest2.29
Basic Shares Quantity137,800,000
Short % of Basic Shares1.1%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/20253.2%7.4%9.0%
5/5/20250.8%2.3%8.8%
2/4/20254.4%7.4%0.2%
11/5/20248.9%10.1%16.8%
8/1/20244.9%0.1%6.6%
5/2/2024-1.3%1.8%-0.2%
2/6/20244.3%6.5%14.1%
11/2/2023-0.1%-0.3%4.6%
...
SUMMARY STATS   
# Positive131518
# Negative1196
Median Positive3.2%3.2%6.8%
Median Negative-1.5%-1.8%-11.9%
Max Positive8.9%10.1%16.8%
Max Negative-7.5%-9.0%-16.0%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025805202510-Q 6/30/2025
3312025505202510-Q 3/31/2025
12312024211202510-K 12/31/2024
93020241105202410-Q 9/30/2024
6302024801202410-Q 6/30/2024
3312024502202410-Q 3/31/2024
12312023212202410-K 12/31/2023
93020231102202310-Q 9/30/2023
6302023803202310-Q 6/30/2023
3312023502202310-Q 3/31/2023
12312022214202310-K 12/31/2022
93020221104202210-Q 9/30/2022
6302022803202210-Q 6/30/2022
3312022503202210-Q 3/31/2022
12312021208202210-K 12/31/2021
93020211102202110-Q 10/3/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Quintos Karen H 8202025Sell404.69104,0472,640,072Form
1Bush Jennifer MaryVP & Pres. - Power Systems8122025Sell388.13520201,8265,872,426Form
2Stone John H 5162025Buy332.081,000332,080810,607Form
3RUMSEY JENNIFERChair and CEO1292025Sell348.841188516,525Form
4Di Leo Allen Bruno V 11132024Sell358.554,9451,773,0431,605,636Form

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