What is Cummins Inc.'s earnings per share (EPS)?

Cummins Inc. (CMI) reported diluted earnings per share of $20.50 for fiscal year 2025. This represents a -27.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Cummins Inc. (CMI) Financials

CMI

Trailing 12 months to June 30, 2026

Revenue $34.7B +2.9% YoY

Net Income $2.8B -7.8% YoY

EPS (Diluted) $19.57 -8.2% YoY

Free Cash Flow $3.4B +103.8% YoY

Market Cap $71.2B as of Oct 1, 2026

Price / Sales 2.1x on $34.7B revenue, trailing 12 months to June 30, 2026

Price / Earnings 25.2x on $2.8B net income, trailing 12 months to June 30, 2026

Price / Book 5.5x on $12.8B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 1, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 4, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CMI SEC filings page.

Cummins Inc. (CMI) reported $34.7B in revenue over the twelve months to Jun 30, 2026, up 2.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CMI FY2025 2026-08-29

Margin expansion and volatile cash conversion dominate Cummins’ results while revenue remains broadly flat at its latest peak.

FY2024’s $4.1B net income converted to only $1.5B of operating cash flow, while FY2025’s lower $3.0B profit produced $3.6B of cash. This earnings-to-cash reversal indicates that annual working-capital or other noncash effects materially change the picture presented by net income.

Revenue declined -1.0% in FY2025, yet gross margin reached 25.3%. Operating margin also reached 12.0%, suggesting cost structure or mix, rather than volume growth, drove the improvement.

The current ratio improved from 1.3x to 1.8x even as long-term borrowing increased, indicating stronger near-term coverage alongside a more debt-funded balance sheet. FY2025 operating cash flow of $3.6B exceeded capital expenditures of $1.2B, so reinvestment was internally funded that year.

Financial Health Signals

Financial Health Score 55/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Cummins Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Cummins Inc. has an operating margin of 11.9%, meaning the company retains $12 of operating profit per $100 of revenue. This strong profitability earns a score of 66/100, reflecting efficient cost management and pricing power. This is up from 11.0% the prior year.

Growth

Cummins Inc.'s revenue declined 1.3% year-over-year, from $34.1B to $33.7B. This contraction results in a growth score of 28/100.

Leverage

Cummins Inc. has a moderate D/E ratio of 0.55. This balance of debt and equity financing earns a leverage score of 53/100.

Liquidity

Cummins Inc.'s current ratio of 1.76 indicates adequate short-term liquidity, earning a score of 52/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Cummins Inc. has a free cash flow margin of 7.1%, earning a moderate score of 47/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Cummins Inc. earns a strong 23.9% return on equity (ROE), meaning it generates $24 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 81/100. This is down from 39.6% the prior year.

Altman Z-Score Safe

4.65

Cummins Inc. scores 4.65, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

5/9

Cummins Inc. passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

1.22x

For every $1 of reported earnings, Cummins Inc. generates $1.22 in operating cash flow ($3.6B OCF vs $3.0B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

12.23x

Cummins Inc. earns $12.23 in operating income for every $1 of interest expense ($4.0B vs $329.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$9.5B

YoY+9.4%

QoQ+12.6%

5Y CAGR+9.2%

10Y CAGR+6.5%

Cummins Inc. generated $9.5B in revenue in Q2 2026. This represents an increase of 9.4% from the same quarter a year earlier. Against the prior quarter it is up 12.6%.

EBITDA

$1.6B

YoY+3.7%

QoQ+26.7%

5Y CAGR+9.7%

Cummins Inc.'s EBITDA was $1.6B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 3.7% from the same quarter a year earlier. Against the prior quarter it is up 26.7%.

Net Income

$968.0M

YoY+4.3%

QoQ+42.4%

5Y CAGR+9.6%

10Y CAGR+6.9%

Cummins Inc. reported $968.0M in net income in Q2 2026. This represents an increase of 4.3% from the same quarter a year earlier. Against the prior quarter it is up 42.4%.

EPS (Diluted)

$6.73

YoY+4.7%

QoQ+42.9%

5Y CAGR+10.6%

10Y CAGR+9.9%

Cummins Inc. earned $6.73 per diluted share (EPS) in Q2 2026. This represents an increase of 4.7% from the same quarter a year earlier. Against the prior quarter it is up 42.9%.

Cash & Balance Sheet

Free Cash Flow

$1.3B

YoY+125.6%

QoQ+941.7%

5Y CAGR+37.8%

10Y CAGR+17.5%

Cummins Inc. generated $1.3B in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 125.6% from the same quarter a year earlier. Against the prior quarter it is up 941.7%.

Cash & Debt

$3.2B

YoY+37.1%

QoQ+21.6%

5Y CAGR+1.5%

10Y CAGR+6.1%

Cummins Inc. held $3.2B in cash against $6.7B in long-term debt as of Q2 2026.

Dividends Per Share

$2.00

YoY+9.9%

QoQ0.0%

5Y CAGR+8.2%

Cummins Inc. paid $2.00 per share in dividends in Q2 2026. This represents an increase of 9.9% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

138M

YoY-0.1%

QoQ-0.2%

5Y CAGR-1.2%

10Y CAGR-2.6%

Cummins Inc. had 138M shares outstanding in Q2 2026. This represents a decrease of 0.1% from the same quarter a year earlier. Against the prior quarter it is down 0.2%.

Margins & Returns

Gross Margin

26.1%

YoY-0.3pp

QoQ-0.6pp

5Y change+1.7pp

10Y change-0.5pp

Cummins Inc.'s gross margin was 26.1% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 0.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.6 percentage points.

Operating Margin

13.5%

YoY-0.7pp

QoQ+2.2pp

5Y change+0.2pp

Cummins Inc.'s operating margin was 13.5% in Q2 2026, reflecting core business profitability. This is down 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.2 percentage points.

Net Margin

10.2%

YoY-0.5pp

QoQ+2.1pp

5Y change+0.2pp

10Y change+0.4pp

Cummins Inc.'s net profit margin was 10.2% in Q2 2026, showing the share of revenue converted to profit. This is down 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.1 percentage points.

Return on Equity

7.5%

YoY-0.3pp

QoQ+2.0pp

5Y change0.0pp

10Y change+1.2pp

Cummins Inc.'s ROE was 7.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.0 percentage points.

Capital Allocation

R&D Spending

$385.0M

YoY+7.8%

QoQ+7.5%

5Y CAGR+8.2%

Cummins Inc. invested $385.0M in research and development in Q2 2026. This represents an increase of 7.8% from the same quarter a year earlier. Against the prior quarter it is up 7.5%.

Share Buybacks

$225.0M

QoQ-7.4%

Cummins Inc. spent $225.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is down 7.4%.

Capital Expenditures

$249.0M

YoY+7.8%

QoQ+31.7%

5Y CAGR+23.4%

10Y CAGR+5.4%

Cummins Inc. invested $249.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 7.8% from the same quarter a year earlier. Against the prior quarter it is up 31.7%.

CMI Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CMI quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$34.7B	$33.7B-1.3%	$34.1B+0.1%	$34.1B+21.3%	$28.1B+16.9%	$24.0B+21.3%	$19.8B-16.0%	$23.6B-0.8%	$23.8B+16.4%	$20.4B+16.7%	$17.5B-8.4%	$19.1B-0.6%	$19.2B+11.1%	$17.3B-0.2%	$17.3B-4.0%	$18.0B
Cost of Revenue	$25.9B	$25.2B-2.0%	$25.7B-0.6%	$25.8B+20.9%	$21.4B+16.5%	$18.3B+22.9%	$14.9B-15.2%	$17.6B-2.5%	$18.0B+17.7%	$15.3B+17.4%	$13.1B-7.9%	$14.2B-1.4%	$14.4B+10.3%	$13.0B+0.8%	$12.9B-4.0%	$13.5B
Gross Profit	$8.8B	$8.5B+0.9%	$8.4B+2.3%	$8.2B+22.8%	$6.7B+18.0%	$5.7B+16.4%	$4.9B-18.2%	$6.0B+4.2%	$5.7B+12.5%	$5.1B+14.4%	$4.5B-9.9%	$4.9B+1.8%	$4.9B+13.6%	$4.3B-3.1%	$4.4B-3.8%	$4.6B
R&D Expenses	$1.4B	$1.4B-4.6%	$1.5B-2.5%	$1.5B+17.4%	$1.3B+17.2%	$1.1B+20.3%	$906.0M-9.5%	$1.0B+11.0%	$902.0M+19.6%	$754.0M+18.4%	$637.0M-13.3%	$735.0M-2.5%	$754.0M+5.8%	$713.0M-2.1%	$728.0M+15.7%	$629.0M
SG&A Expenses	$3.3B	$3.1B-4.6%	$3.3B-1.7%	$3.3B+24.0%	$2.7B+13.2%	$2.4B+11.7%	$2.1B-13.4%	$2.5B+0.7%	$2.4B+0.3%	$2.4B+15.7%	$2.1B+0.3%	$2.1B-0.1%	$2.1B+15.3%	$1.8B+0.5%	$1.8B-1.6%	$1.8B
Operating Income	$3.9B	$4.0B+7.3%	$3.8B+112.9%	$1.8B-39.9%	$2.9B+8.2%	$2.7B+19.3%	$2.3B-16.0%	$2.7B-3.1%	$2.8B+19.4%	$2.3B+24.1%	$1.9B-8.6%	$2.1B-13.0%	$2.4B+12.6%	$2.1B-6.8%	$2.3B-15.9%	$2.7B
EBITDA	N/A	$5.1B+6.5%	$4.8B+72.9%	$2.8B-25.0%	$3.7B+10.2%	$3.4B+14.5%	$2.9B-12.8%	$3.4B-0.7%	$3.4B+16.5%	$2.9B+21.0%	$2.4B-6.3%	$2.6B-8.8%	$2.8B+12.4%	$2.5B-4.1%	$2.6B-13.0%	$3.0B
Interest Expense	$321.0M	$329.0M-11.1%	$370.0M-1.3%	$375.0M+88.4%	$199.0M+79.3%	$111.0M+11.0%	$100.0M-8.3%	$109.0M-4.4%	$114.0M+40.7%	$81.0M+17.4%	$69.0M+6.2%	$65.0M+1.6%	$64.0M+56.1%	$41.0M+28.1%	$32.0M-27.3%	$44.0M
Income Tax	$1.0B	$1.0B+20.5%	$835.0M+6.2%	$786.0M+23.6%	$636.0M+8.3%	$587.0M+11.4%	$527.0M-6.9%	$566.0M0.0%	$566.0M-58.7%	$1.4B+189.2%	$474.0M-14.6%	$555.0M-20.5%	$698.0M+31.5%	$531.0M-0.4%	$533.0M-26.5%	$725.0M
Net Income	$2.8B	$3.0B-27.3%	$4.1B+384.3%	$840.0M-61.5%	$2.2B+0.9%	$2.2B+19.5%	$1.8B-20.1%	$2.3B+3.7%	$2.2B+120.0%	$994.0M-31.7%	$1.5B-1.0%	$1.5B-15.3%	$1.7B+9.3%	$1.6B-8.6%	$1.7B-10.7%	$1.9B
EPS (Basic)	N/A	$20.62-27.8%	$28.55+450.1%	$5.19-65.9%	$15.20+3.1%	$14.74+22.1%	$12.07-17.0%	$14.54+10.2%	$13.20+120.4%	$5.99-27.4%	$8.25+5.0%	$7.86-13.1%	$9.04+14.0%	$7.93-8.7%	$8.69-9.3%	$9.58
EPS (Diluted)	$19.57	$20.50-27.7%	$28.37+450.9%	$5.15-65.9%	$15.12+3.5%	$14.61+21.6%	$12.01-17.1%	$14.48+10.1%	$13.15+120.3%	$5.97-27.5%	$8.23+5.0%	$7.84-13.1%	$9.02+14.0%	$7.91-8.8%	$8.67-9.2%	$9.55
Diluted Shares (Avg)	N/A	139M-0.3%	139M-2.5%	143M+0.3%	142M-2.5%	146M-2.1%	149M-4.5%	156M-4.1%	163M-2.7%	167M-1.2%	169M-5.1%	178M-2.6%	183M-2.3%	187M-1.2%	190M-2.0%	194M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$9.5B+9.4%	$8.4B+2.7%	$8.5B+1.1%	$8.3B-1.6%	$8.6B-1.7%	$8.2B-2.7%	$8.4B-1.1%	$8.5B+0.3%
Cost of Revenue	$7.0B+9.9%	$6.2B+2.3%	$6.6B+2.7%	$6.2B-1.5%	$6.4B-3.6%	$6.0B-5.4%	$6.4B-2.0%	$6.3B-1.2%
Gross Profit	$2.5B+8.1%	$2.2B+4.1%	$2.0B-4.1%	$2.1B-1.9%	$2.3B+4.0%	$2.2B+5.6%	$2.0B+1.6%	$2.2B+4.8%
R&D Expenses	$385.0M+7.8%	$358.0M+4.1%	$350.0M-1.7%	$345.0M-3.9%	$357.0M-5.8%	$344.0M-6.8%	$356.0M-8.7%	$359.0M-4.5%
SG&A Expenses	$893.0M+14.6%	$845.0M+9.6%	$786.0M-1.9%	$789.0M-2.2%	$779.0M-5.9%	$771.0M-8.1%	$801.0M-8.6%	$807.0M-2.9%
Operating Income	$1.3B+4.3%	$949.0M-16.3%	$813.0M+11.1%	$852.0M-18.9%	$1.2B+17.3%	$1.1B+22.9%	$732.0M+160.4%	$1.1B+10.5%
EBITDA	$1.6B+3.7%	$1.2B-12.3%	$1.1B+9.0%	$1.1B-14.2%	$1.5B+15.1%	$1.4B+18.1%	$1.0B+205.8%	$1.3B+9.0%
Interest Expense	$80.0M-8.0%	$76.0M-1.3%	$82.0M-7.9%	$83.0M0.0%	$87.0M-20.2%	$77.0M-13.5%	$89.0M-3.3%	$83.0M-14.4%
Income Tax	$325.0M+9.4%	$254.0M-4.9%	$171.0M-21.2%	$271.0M+35.5%	$297.0M+32.0%	$267.0M+38.3%	$217.0M+33.1%	$200.0M+6.4%
Net Income	$968.0M+4.3%	$680.0M-20.0%	$620.0M+39.3%	$559.0M-33.7%	$928.0M+23.4%	$850.0M-58.1%	$445.0M+131.9%	$843.0M+22.2%
EPS (Basic)	$6.76+4.6%	$4.73-21.0%	$4.29+39.3%	$3.88-34.2%	$6.46+21.9%	$5.99-57.5%	$3.08+130.5%	$5.90+27.4%
EPS (Diluted)	$6.73+4.7%	$4.71-21.0%	$4.27+39.5%	$3.86-34.1%	$6.43+22.2%	$5.96-57.5%	$3.06+130.5%	$5.86+27.7%
Diluted Shares (Avg)	139M0.0%	139M+0.4%	N/A	139M+0.5%	139M+0.4%	138M-2.7%	N/A	138M-3.3%

CMI Balance Sheet

CMI quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$34.0B+7.8%	$31.5B-1.5%	$32.0B+5.6%	$30.3B+27.8%	$23.7B+4.8%	$22.6B+14.6%	$19.7B+3.5%	$19.1B+5.5%	$18.1B+20.4%	$15.0B-0.8%	$15.1B-4.0%	$15.8B+7.0%	$14.7B+17.4%	$12.5B+7.5%	$11.7B
Current Assets	$16.9B+14.7%	$14.8B-2.9%	$15.2B+5.2%	$14.5B+17.4%	$12.3B+3.5%	$11.9B+26.7%	$9.4B-4.4%	$9.8B+10.0%	$8.9B+15.8%	$7.7B-3.0%	$7.9B-12.2%	$9.1B+4.8%	$8.6B+20.5%	$7.2B+1.1%	$7.1B
Cash & Equivalents	$2.8B+70.3%	$1.7B-23.3%	$2.2B+7.9%	$2.0B-22.1%	$2.6B-23.8%	$3.4B+201.2%	$1.1B-13.4%	$1.3B-4.8%	$1.4B+22.2%	$1.1B-34.5%	$1.7B-25.6%	$2.3B-14.7%	$2.7B+97.2%	$1.4B-7.7%	$1.5B
Short-Term Investments	$764.0M+28.8%	$593.0M+5.5%	$562.0M+19.1%	$472.0M-20.7%	$595.0M+29.1%	$461.0M+35.2%	$341.0M+53.6%	$222.0M+12.1%	$198.0M	$0	$0	$0	$0	$0	$0
Inventory	$5.8B+1.4%	$5.7B+1.1%	$5.7B+1.3%	$5.6B+28.7%	$4.4B+27.2%	$3.4B-1.7%	$3.5B-7.3%	$3.8B+18.7%	$3.2B+18.4%	$2.7B-1.2%	$2.7B-5.5%	$2.9B+20.4%	$2.4B+7.2%	$2.2B+3.7%	$2.1B
Accounts Receivable	$5.8B+12.3%	$5.2B-7.2%	$5.6B+7.3%	$5.2B+45.9%	$3.6B+3.6%	$3.4B+1.6%	$3.4B	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$2.2B-6.2%	$2.4B-5.2%	$2.5B+6.7%	$2.3B+82.1%	$1.3B-0.5%	$1.3B+0.5%	$1.3B+14.2%	$1.1B+4.1%	$1.1B+125.4%	$480.0M-0.4%	$482.0M+0.6%	$479.0M+3.9%	$461.0M+3.6%	$445.0M+31.3%	$339.0M
Total Liabilities	$20.6B+1.7%	$20.2B-8.5%	$22.1B+10.1%	$20.1B+40.3%	$14.3B+4.9%	$13.6B+21.0%	$11.3B+4.3%	$10.8B+9.0%	$9.9B+26.5%	$7.8B+6.1%	$7.4B-3.7%	$7.7B+11.9%	$6.9B+23.0%	$5.6B-4.5%	$5.8B
Current Liabilities	$9.6B-14.5%	$11.2B-12.9%	$12.9B+13.0%	$11.4B+61.2%	$7.1B+11.8%	$6.3B+1.2%	$6.3B-1.9%	$6.4B+12.5%	$5.7B+31.3%	$4.3B+13.7%	$3.8B-5.4%	$4.0B+19.4%	$3.4B+7.4%	$3.1B-14.2%	$3.7B
Non-Current Liabilities	$11.0B+22.0%	$9.0B-2.2%	$9.2B+6.3%	$8.7B+19.8%	$7.2B-1.0%	$7.3B+45.7%	$5.0B+13.4%	$4.4B+4.4%	$4.2B+20.6%	$3.5B-1.9%	$3.6B-1.9%	$3.6B+4.6%	$3.5B+43.2%	$2.4B+11.8%	$2.2B
Long-Term Debt	$6.8B+42.0%	$4.8B-0.4%	$4.8B+6.8%	$4.5B+25.7%	$3.6B-0.9%	$3.6B+129.1%	$1.6B-1.3%	$1.6B+0.6%	$1.6B+1.3%	$1.6B-0.5%	$1.6B-0.1%	$1.6B-5.7%	$1.7B+139.5%	$698.0M+6.1%	$658.0M
Total Equity	$12.3B+20.2%	$10.3B+16.1%	$8.8B-1.4%	$9.0B+10.2%	$8.1B+1.0%	$8.1B+7.4%	$7.5B+2.2%	$7.3B+1.2%	$7.3B+5.6%	$6.9B-7.2%	$7.4B-4.4%	$7.7B+3.2%	$7.5B+13.7%	$6.6B+20.2%	$5.5B
Retained Earnings	$22.6B+8.6%	$20.8B+16.7%	$17.9B-1.0%	$18.0B+7.7%	$16.7B+8.6%	$15.4B+7.0%	$14.4B+11.6%	$12.9B+12.7%	$11.5B+3.8%	$11.0B+7.0%	$10.3B+8.1%	$9.5B+13.5%	$8.4B+14.5%	$7.3B+21.6%	$6.0B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$35.6B+4.0%	$34.4B+5.9%	$34.0B+7.8%	$33.6B+4.9%	$34.3B+9.4%	$32.5B+2.2%	$31.5B-1.5%	$32.1B-0.1%
Current Assets	$18.4B+8.9%	$17.4B+11.8%	$16.9B+14.7%	$16.7B+9.2%	$16.9B+13.2%	$15.5B-0.5%	$14.8B-2.9%	$15.3B-3.7%
Cash & Equivalents	$3.2B+37.1%	$2.6B+70.6%	$2.8B+70.3%	$2.6B+48.1%	$2.3B+45.8%	$1.5B-39.7%	$1.7B-23.3%	$1.7B-27.4%
Short-Term Investments	$745.0M-1.3%	$568.0M-9.3%	$764.0M+28.8%	$593.0M+14.5%	$755.0M+27.3%	$626.0M+22.7%	$593.0M+5.5%	$518.0M+14.6%
Inventory	$6.4B+1.7%	$6.1B0.0%	$5.8B+1.4%	$6.3B+2.0%	$6.3B+7.3%	$6.1B+6.3%	$5.7B+1.1%	$6.1B+3.9%
Accounts Receivable	$6.6B+12.1%	$6.5B+14.9%	$5.8B+12.3%	$5.6B+4.7%	$5.9B+4.8%	$5.7B+4.0%	$5.2B-7.2%	$5.4B-4.9%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$2.2B-8.7%	$2.2B-7.4%	$2.2B-6.2%	$2.2B-7.9%	$2.4B+1.6%	$2.4B-0.4%	$2.4B-5.2%	$2.4B+1.4%
Total Liabilities	$21.7B+1.6%	$21.1B+2.5%	$20.6B+1.7%	$20.5B-0.8%	$21.4B+3.1%	$20.6B-5.4%	$20.2B-8.5%	$20.7B+1.4%
Current Liabilities	$10.7B+3.5%	$10.2B-12.2%	$9.6B-14.5%	$9.5B-18.5%	$10.3B-7.4%	$11.6B-0.9%	$11.2B-12.9%	$11.6B+4.3%
Non-Current Liabilities	$11.1B-0.2%	$10.9B+21.4%	$11.0B+22.0%	$11.1B+21.7%	$11.1B+15.3%	$9.0B-10.5%	$9.0B-2.2%	$9.1B-2.0%
Long-Term Debt	$6.7B-1.0%	$6.7B+40.3%	$6.8B+42.0%	$6.8B+40.5%	$6.8B+25.5%	$4.8B-16.9%	$4.8B-0.4%	$4.9B-1.9%
Total Equity	$12.8B+9.0%	$12.4B+13.1%	$12.3B+20.2%	$12.1B+17.0%	$11.8B+23.4%	$10.9B+20.5%	$10.3B+16.1%	$10.3B-3.2%
Retained Earnings	$23.6B+7.3%	$23.0B+7.4%	$22.6B+8.6%	$22.3B+7.9%	$22.0B+9.6%	$21.4B+9.2%	$20.8B+16.7%	$20.7B+5.8%

CMI Cash Flow Statement

CMI quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$4.6B	$3.6B+143.5%	$1.5B-62.5%	$4.0B+102.1%	$2.0B-13.0%	$2.3B-17.1%	$2.7B-14.4%	$3.2B+33.8%	$2.4B+4.4%	$2.3B+17.4%	$1.9B-6.1%	$2.1B-8.9%	$2.3B+8.5%	$2.1B+36.4%	$1.5B-26.1%	$2.1B
Depreciation & Amortization	N/A	$1.1B+3.8%	$1.1B+4.0%	$1.0B+30.6%	$784.0M+18.4%	$662.0M-1.6%	$673.0M+0.1%	$672.0M+10.0%	$611.0M+4.8%	$583.0M+10.0%	$530.0M+3.1%	$514.0M+13.0%	$455.0M+11.8%	$407.0M+12.7%	$361.0M+11.1%	$325.0M
Stock-Based Compensation	N/A	$93.0M-7.0%	$100.0M+26.6%	$79.0M+139.4%	$33.0M-10.8%	$37.0M+19.4%	$31.0M-36.7%	$49.0M-7.5%	$53.0M+29.3%	$41.0M+28.1%	$32.0M+33.3%	$24.0M-33.3%	$36.0M-2.7%	$37.0M+2.8%	$36.0M-14.3%	$42.0M
Capital Expenditures	$1.3B	$1.2B+2.2%	$1.2B-0.4%	$1.2B+32.4%	$916.0M+24.8%	$734.0M+39.0%	$528.0M-24.6%	$700.0M-1.3%	$709.0M+40.1%	$506.0M-4.7%	$531.0M-28.6%	$744.0M+0.1%	$743.0M+9.9%	$676.0M-2.0%	$690.0M+10.9%	$622.0M
Free Cash Flow	$3.4B	$2.4B+755.2%	$279.0M-89.9%	$2.8B+163.2%	$1.0B-31.3%	$1.5B-30.6%	$2.2B-11.6%	$2.5B+48.7%	$1.7B-5.8%	$1.8B+25.8%	$1.4B+6.6%	$1.3B-13.3%	$1.5B+7.8%	$1.4B+67.8%	$842.0M-42.0%	$1.5B
Investing Cash Flow	-$1.5B	-$1.7B+2.9%	-$1.8B-8.5%	-$1.6B+60.6%	-$4.2B-377.9%	-$873.0M-21.4%	-$719.0M+37.5%	-$1.1B-18.1%	-$974.0M+7.4%	-$1.1B-14.7%	-$917.0M+0.1%	-$918.0M+25.6%	-$1.2B	N/A	N/A	N/A
Financing Cash Flow	-$2.2B	-$772.0M-346.2%	-$173.0M+92.1%	-$2.2B-230.4%	$1.7B+174.9%	-$2.2B-895.4%	$280.0M+113.4%	-$2.1B-49.6%	-$1.4B-30.4%	-$1.1B+24.0%	-$1.4B+14.4%	-$1.6B-22.9%	-$1.3B	N/A	N/A	N/A
Dividends Paid	$1.1B	$1.1B+8.9%	$969.0M+5.2%	$921.0M+7.7%	$855.0M+5.7%	$809.0M+3.5%	$782.0M+2.8%	$761.0M+6.0%	$718.0M+2.4%	$701.0M+3.7%	$676.0M+8.7%	$622.0M+21.5%	$512.0M+21.9%	$420.0M+23.5%	$340.0M+33.3%	$255.0M
Share Buybacks	N/A	N/A	$0	$0-100.0%	$374.0M-73.3%	$1.4B+118.7%	$641.0M-49.6%	$1.3B+11.5%	$1.1B+152.8%	$451.0M-42.0%	$778.0M-13.6%	$900.0M+34.3%	$670.0M+75.9%	$381.0M+48.8%	$256.0M-59.3%	$629.0M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$1.5B+91.0%	$309.0M+10400.0%	$1.5B+7.9%	$1.3B+103.9%	$785.0M+192.2%	-$3.0M-101.1%	$1.4B-2.5%	$640.0M-58.1%
Depreciation & Amortization	$281.0M+0.7%	$282.0M+4.8%	$280.0M+3.3%	$277.0M+4.1%	$279.0M+6.1%	$269.0M+1.5%	$271.0M+2.7%	$266.0M+3.5%
Capital Expenditures	$249.0M+7.8%	$189.0M+16.7%	$544.0M+0.7%	$298.0M+15.1%	$231.0M-3.8%	$162.0M-4.1%	$540.0M+4.0%	$259.0M-7.5%
Free Cash Flow	$1.3B+125.6%	$120.0M+172.7%	$990.0M+12.2%	$1.0B+164.3%	$554.0M+150.8%	-$165.0M-254.2%	$882.0M-6.2%	$381.0M-69.5%
Investing Cash Flow	-$419.0M-13.6%	-$10.0M+95.9%	-$885.0M-24.1%	-$231.0M+12.2%	-$369.0M+7.8%	-$246.0M+39.4%	-$713.0M+8.9%	-$263.0M-3.5%
Financing Cash Flow	-$524.0M-257.8%	-$517.0M-662.0%	-$369.0M+49.9%	-$827.0M-240.3%	$332.0M+7.8%	$92.0M-81.6%	-$737.0M+33.5%	-$243.0M+47.9%
Dividends Paid	$276.0M+10.0%	$276.0M+10.0%	$277.0M+10.8%	$276.0M+10.4%	$251.0M+9.1%	$251.0M+5.0%	$250.0M+5.0%	$250.0M+5.0%
Share Buybacks	$225.0M	$243.0M	N/A	N/A	$0	$0	N/A	N/A

Not reported in any period shown, so not listed: Stock-Based Compensation.

CMI Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CMI quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	25.3%+0.5pp	24.8%+0.5pp	24.2%+0.3pp	23.9%+0.2pp	23.7%-1.0pp	24.7%-0.7pp	25.4%+1.2pp	24.1%-0.8pp	25.0%-0.5pp	25.5%-0.4pp	25.9%+0.6pp	25.3%+0.6pp	24.7%-0.7pp	25.5%+0.1pp	25.4%
Operating Margin	11.9%+0.9pp	11.0%+5.8pp	5.2%-5.3pp	10.4%-0.8pp	11.3%-0.2pp	11.5%0.0pp	11.5%-0.3pp	11.7%+0.3pp	11.4%+0.7pp	10.7%0.0pp	10.8%-1.5pp	12.3%+0.2pp	12.1%-0.9pp	13.0%-1.8pp	14.8%
Net Margin	8.8%-3.1pp	11.9%+9.5pp	2.5%-5.3pp	7.8%-1.2pp	9.0%-0.1pp	9.1%-0.5pp	9.6%+0.4pp	9.2%+4.3pp	4.9%-3.4pp	8.3%+0.6pp	7.7%-1.3pp	9.0%-0.2pp	9.2%-0.8pp	10.0%-0.8pp	10.8%
Return on Equity	23.9%-15.7pp	39.6%+30.1pp	9.5%-14.8pp	24.3%-2.2pp	26.6%+4.1pp	22.5%-7.7pp	30.2%+0.5pp	29.8%+16.1pp	13.7%-7.5pp	21.2%+1.3pp	19.9%-2.5pp	22.4%+1.3pp	21.1%-5.2pp	26.3%-9.1pp	35.4%
Return on Assets	8.7%-4.2pp	12.9%+10.3pp	2.6%-4.6pp	7.2%-1.9pp	9.1%+1.1pp	8.0%-3.5pp	11.5%0.0pp	11.5%+6.0pp	5.5%-4.2pp	9.7%0.0pp	9.7%-1.3pp	11.0%+0.2pp	10.8%-3.1pp	13.9%-2.8pp	16.7%
Current Ratio	1.76+0.4x	1.31+0.1x	1.18-0.1x	1.27-0.5x	1.74-0.1x	1.88+0.4x	1.500.0x	1.540.0x	1.57-0.2x	1.78-0.3x	2.09-0.2x	2.25-0.3x	2.56+0.3x	2.29+0.3x	1.94
Debt-to-Equity	0.55+0.1x	0.47-0.1x	0.540.0x	0.50+0.1x	0.440.0x	0.45+0.2x	0.210.0x	0.220.0x	0.220.0x	0.230.0x	0.210.0x	0.200.0x	0.22+0.1x	0.110.0x	0.12
Asset Turnover	0.99-0.1x	1.080.0x	1.06+0.1x	0.93-0.1x	1.01+0.1x	0.88-0.3x	1.19-0.1x	1.25+0.1x	1.130.0x	1.17-0.1x	1.260.0x	1.220.0x	1.17-0.2x	1.38-0.2x	1.55
FCF Margin	7.1%+6.3pp	0.8%-7.3pp	8.1%+4.3pp	3.7%-2.6pp	6.3%-4.7pp	11.1%+0.5pp	10.5%+3.5pp	7.0%-1.7pp	8.7%+0.6pp	8.0%+1.1pp	6.9%-1.0pp	7.9%-0.2pp	8.2%+3.3pp	4.9%-3.2pp	8.0%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	26.1%-0.3pp	26.7%+0.4pp	22.9%-1.2pp	25.6%-0.1pp	26.4%+1.5pp	26.4%+2.1pp	24.1%+0.7pp	25.7%+1.1pp
Operating Margin	13.5%-0.7pp	11.3%-2.6pp	9.5%+0.9pp	10.2%-2.2pp	14.2%+2.3pp	13.9%+2.9pp	8.7%+22.9pp	12.4%+1.2pp
Net Margin	10.2%-0.5pp	8.1%-2.3pp	7.3%+2.0pp	6.7%-3.3pp	10.7%+2.2pp	10.4%-13.7pp	5.3%+21.6pp	10.0%+1.8pp
Return on Equity	7.5%-0.3pp	5.5%-2.3pp	5.0%+0.7pp	4.6%-3.5pp	7.9%0.0pp	7.8%-14.6pp	4.3%+20.1pp	8.2%+1.7pp
Return on Assets	2.7%0.0pp	2.0%-0.6pp	1.8%+0.4pp	1.7%-1.0pp	2.7%+0.3pp	2.6%-3.8pp	1.4%+5.8pp	2.6%+0.5pp
Current Ratio	1.73+0.1x	1.71+0.4x	1.76+0.4x	1.77+0.4x	1.64+0.3x	1.340.0x	1.31+0.1x	1.32-0.1x
Debt-to-Equity	0.52-0.1x	0.54+0.1x	0.55+0.1x	0.57+0.1x	0.580.0x	0.44-0.2x	0.47-0.1x	0.470.0x
Asset Turnover	0.270.0x	0.240.0x	0.250.0x	0.250.0x	0.250.0x	0.250.0x	0.270.0x	0.260.0x
FCF Margin	13.2%+6.8pp	1.4%+3.5pp	11.6%+1.2pp	12.1%+7.6pp	6.4%+18.8pp	-2.0%-3.3pp	10.4%-0.6pp	4.5%-10.3pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Cummins Inc. CMI	FY2025	$33.7B	$3.0B	8.8%	$71.2B	55/100
Emerson Electric Co. EMR	FY2025	$18.0B	$2.3B	12.7%	$86.5B	36/100
Ametek, Inc. AME	FY2025	$7.4B	$1.5B	20.0%	$56.8B	69/100
Illinois Tool Works Inc. ITW	FY2025	$16.0B	$3.1B	19.1%	$73.3B	63/100
Rockwell Automation, Inc. ROK	FY2025	$8.3B	$869.0M	10.4%	$48.3B	58/100
Parker-Hannifin Corporation PH	FY2026	$21.5B	$3.6B	17.0%	$120.5B	64/100

Where Cummins Inc. Ranks

Frequently Asked Questions

What is Cummins Inc.'s annual revenue?

Cummins Inc. (CMI) reported $33.7B in total revenue for fiscal year 2025. This represents a -1.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Cummins Inc.'s revenue growing?

Cummins Inc. (CMI) revenue declined by 1.3% year-over-year, from $34.1B to $33.7B in fiscal year 2025.

Is Cummins Inc. profitable?

Yes, Cummins Inc. (CMI) reported a net income of $3.0B in fiscal year 2025, with a net profit margin of 8.8%.

What is Cummins Inc.'s EBITDA?

Cummins Inc. (CMI) had EBITDA of $5.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Cummins Inc. have?

As of fiscal year 2025, Cummins Inc. (CMI) had $2.8B in cash and equivalents against $6.8B in long-term debt.

What is Cummins Inc.'s gross margin?

Cummins Inc. (CMI) had a gross margin of 25.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Cummins Inc.'s operating margin?

Cummins Inc. (CMI) had an operating margin of 11.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Cummins Inc.'s net profit margin?

Cummins Inc. (CMI) had a net profit margin of 8.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Cummins Inc. pay dividends?

Yes, Cummins Inc. (CMI) paid $7.64 per share in dividends during fiscal year 2025.

What is Cummins Inc.'s return on equity (ROE)?

Cummins Inc. (CMI) has a return on equity of 23.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Cummins Inc.'s free cash flow?

Cummins Inc. (CMI) generated $2.4B in free cash flow during fiscal year 2025. This represents a 755.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Cummins Inc.'s operating cash flow?

Cummins Inc. (CMI) generated $3.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Cummins Inc.'s total assets?

Cummins Inc. (CMI) had $34.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Cummins Inc.'s capital expenditures?

Cummins Inc. (CMI) invested $1.2B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Cummins Inc. spend on research and development?

Cummins Inc. (CMI) invested $1.4B in research and development during fiscal year 2025.

How many shares does Cummins Inc. have outstanding?

Cummins Inc. (CMI) had 138M shares outstanding as of fiscal year 2025.

What is Cummins Inc.'s current ratio?

Cummins Inc. (CMI) had a current ratio of 1.76 as of fiscal year 2025, which is generally considered healthy.

What is Cummins Inc.'s debt-to-equity ratio?

Cummins Inc. (CMI) had a debt-to-equity ratio of 0.55 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Cummins Inc.'s return on assets (ROA)?

Cummins Inc. (CMI) had a return on assets of 8.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Cummins Inc.'s P/E ratio?

Cummins Inc. (CMI) trades at 25.2x earnings, its market capitalization divided by net income of $2.8B net income, trailing 12 months to June 30, 2026. The market capitalization is $71.2B as of Oct 1, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Cummins Inc.'s price-to-sales ratio?

Cummins Inc. (CMI) trades at 2.1x sales, its market capitalization divided by revenue of $34.7B revenue, trailing 12 months to June 30, 2026. The market capitalization is $71.2B as of Oct 1, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Cummins Inc.'s Altman Z-Score?

Cummins Inc. (CMI) has an Altman Z-Score of 4.65, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Cummins Inc.'s Piotroski F-Score?

Cummins Inc. (CMI) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Cummins Inc.'s earnings high quality?

Cummins Inc. (CMI) has an earnings quality ratio of 1.22x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Cummins Inc. cover its interest payments?

Cummins Inc. (CMI) has an interest coverage ratio of 12.23x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Cummins Inc.?

Cummins Inc. (CMI) scores 55 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.