CMI Cummins

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Industrials

· How we analyze

About the company

Cummins is a major maker of diesel and gas engines from Indiana. The engines power trucks, buses and construction and farm machinery; it also makes generator sets, emission controls, drivetrain components and spare parts as well as hydrogen and electric drive technology. As of Oct 11, 2026

Fact sheet (from the annual report) Engines and turbines · Columbus, USA

Cummins designs and manufactures diesel, electric and hybrid powertrains, power generation systems and components such as aftertreatment and turbochargers. The Engine segment builds diesel, natural gas and gasoline engines for heavy- and medium-duty trucks, buses, light vehicles and off-highway machinery. The Components segment supplies axles, brakes, transmissions, fuel systems and electronics, among other things. The Distribution segment is the main channel for sales, service and customer support, with company-owned, jointly operated and independent locations worldwide. The Accelera segment develops electrified powertrains with battery technology and is still at the beginning of commercialization. Customers are original equipment manufacturers, distributors and dealers, with supply agreements including PACCAR, Traton and Daimler.

Automatically summarized from SEC annual report (10-K, filed Feb 10, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 14, 2026

Price performance at a glance

Last 30 trading days
  • Today +0.9%
  • 7 days 0.0%
  • 30 days −0.6%
  • 1 year +23.9%
Day range (last trading day)
−1.0%Price at 50% of the range+1.0%
52-week range
−20.7%Price at 33% of the range+41.3%
Distance from the all-time high
−29.2%

Our own calculation from the exchange’s daily candles, as of Oct 26, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.

Pullback in trend · Analysis method

This method currently detects no pattern for CMI. The check runs daily after the close.

You see new patterns immediately from Watcher, on the free plan 2 days after they form. Plans and pricing

What does the pattern show?

What is this? In an intact uptrend (price above the 200-day line, 50-day line rising), the price pulls back to the 50-day line after a rise and closes back above it.

This is a calculated analysis, not a forecast and not a call to buy. Risk notice and investment advice

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Symbol on TradingView: NYSE:CMI

Fundamental analysis

Cummins · Sector Industrials · amounts in USD

Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 10, 2026.

Quality checks

Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.

Fiscal year to Dec 31, 2025

Quality Profitability, consistency, balance sheet 4 of 8 criteria met Growth Revenue and earnings per share 6 of 7 criteria met Dividend Level, consistency, coverage 7 of 7 criteria met Financial strength Piotroski, debt, liquidity 6 of 6 criteria met

Quality 4 of 8 met

  • not met: Gross margin above 40% 25.3%
  • not met: Operating margin above 15% 12.0%
  • not met: Net margin above 10% 8.4%
  • met: Return on equity above 15% 23.0%
  • not met: Free cash flow margin above 10% 7.1%
  • met: Profit in each of the last 5 fiscal years 5 of 5
  • met: Free cash flow positive in each of the last 3 fiscal years 3 of 3
  • met: Equity ratio above 30% 36.3%
Gross margin

25.3% Fiscal year 2025

Rank 14 of 100: higher than 14% of 153 peers (All). weak.

Rank 30 of 100: higher than 30% of 22 peers (Sector). weak.

Median Industrials: 35.4%

Share of revenue left after the direct cost of the products sold.

Operating margin

12.0% Fiscal year 2025

Rank 43 of 100: higher than 43% of 192 peers (All). medium.

Rank 59 of 100: higher than 59% of 28 peers (Sector). medium.

Median Industrials: 10.4%

Operating income divided by revenue: what the core business earns before interest and taxes.

Net margin

8.4% Fiscal year 2025

Rank 34 of 100: higher than 34% of 237 peers (All). medium.

Rank 37 of 100: higher than 37% of 34 peers (Sector). medium.

Median Industrials: 12.9%

Profit after all costs, interest and taxes divided by revenue.

Return on equity

23.0% Fiscal year 2025

Rank 63 of 100: higher than 63% of 218 peers (All). medium.

Rank 42 of 100: higher than 42% of 32 peers (Sector). medium.

Median Industrials: 26.3%

Net income divided by equity at fiscal year end.

Return on assets

8.4% Fiscal year 2025 (total assets at year end)

Rank 64 of 100: higher than 64% of 238 peers (All). medium.

Rank 57 of 100: higher than 57% of 34 peers (Sector). medium.

Median Industrials: 7.5%

Net income divided by total assets at fiscal year end.

Equity ratio

36.3% Fiscal year 2025

Rank 51 of 100: higher than 51% of 239 peers (All). medium.

Rank 60 of 100: higher than 60% of 34 peers (Sector). medium.

Median Industrials: 33.2%

Equity as a share of total assets. Usually low for banks.

Free cash flow margin

7.1% Fiscal year 2025

Rank 33 of 100: higher than 33% of 213 peers (All). medium.

Rank 33 of 100: higher than 33% of 32 peers (Sector). medium.

Median Industrials: 10.5%

Free cash flow divided by revenue.

Free cash flow

2.4B USD Fiscal year 2025

Operating cash flow minus capital expenditure on property and equipment.

Growth 6 of 7 met

  • met: Over 3 years, revenue grew by more than 5% per year +6.2%
  • met: Over 5 years, revenue grew by more than 5% per year +11.2%
  • met: Over 10 years, revenue grew by more than 5% per year +5.8%
  • met: Over 3 years, EPS grew by more than 5% per year +10.7%
  • met: Over 5 years, EPS grew by more than 5% per year +11.3%
  • met: Revenue rose in at least 4 of the last 5 fiscal years 4 of 5
  • not met: Revenue rose in the last fiscal year −1.3%
Revenue growth 3 years

+6.2% per year

Rank 41 of 100: higher than 41% of 230 peers (All). medium.

Rank 39 of 100: higher than 39% of 32 peers (Sector). medium.

Median Industrials: +8.5%

Average growth per year over 3 fiscal years.

Revenue growth 5 years

+11.2% per year

Rank 51 of 100: higher than 51% of 217 peers (All). medium.

Rank 68 of 100: higher than 68% of 30 peers (Sector). strong.

Median Industrials: +9.2%

Average growth per year over 5 fiscal years.

Revenue growth 10 years

+5.8% per year

Rank 41 of 100: higher than 41% of 157 peers (All). medium.

Rank 74 of 100: higher than 74% of 21 peers (Sector). strong.

Median Industrials: +4.5%

Average growth per year over 10 fiscal years.

EPS growth 3 years

+10.7% per year

Rank 48 of 100: higher than 48% of 157 peers (All). medium.

Rank 50 of 100: higher than 50% of 23 peers (Sector). medium.

Median Industrials: +10.7%

Growth of earnings per share per year, adjusted for stock splits.

EPS growth 5 years

+11.3% per year

Rank 41 of 100: higher than 41% of 146 peers (All). medium.

Rank 36 of 100: higher than 36% of 21 peers (Sector). medium.

Median Industrials: +13.7%

Growth of earnings per share per year, adjusted for stock splits.

EPS growth 10 years

+10.1% per year

Rank 50 of 100: higher than 50% of 140 peers (All). medium.

Rank 64 of 100: higher than 64% of 21 peers (Sector). medium.

Median Industrials: +8.1%

Growth of earnings per share per year, adjusted for stock splits.

Dividend 7 of 7 met

  • met: Pays a dividend 7.64 USD
  • met: Payout ratio at most 60% of earnings 37%
  • met: Dividend paid in each of the last 5 fiscal years 5 of 5
  • met: Dividend per share never lowered in the last 5 fiscal years Dividend per share as filed with the SEC, including special dividends; a one-off higher prior year does not count as a cut. never
  • met: Dividend per share higher than 5 years ago +7.7%
  • met: Free cash flow per share covers the dividend 2.3x
  • met: Dividends paid over the last 5 years covered by free cash flow 58% of free cash flow
Payout ratio

37% Fiscal year 2025

Dividend per share divided by earnings per share.

Dividend growth 5 years

+7.7% per year

Rank 44 of 100: higher than 44% of 118 peers (All). medium.

Rank 48 of 100: higher than 48% of 20 peers (Sector). medium.

Median Industrials: +7.7%

Growth of the dividend per share per year.

Free cash flow coverage

2.3x Fiscal year 2025

Free cash flow per share divided by dividend per share. From 1x the dividend is covered.

Financial strength 6 of 6 met

  • met: Piotroski F-Score at least 7 of 9 7 of 9
  • met: Long-term debt no higher than equity 0.55
  • met: Current assets cover current liabilities 1.76
  • met: Positive equity 12.3B USD
  • met: In 5 years, share count up by at most 5% −6.9%
  • met: Free cash flow positive in the last fiscal year 2.4B USD
Piotroski F-Score

7 of 9 Fiscal year 2025

Rank 72 of 100: higher than 72% of 134 peers (All). strong.

Rank 75 of 100: higher than 75% of 20 peers (Sector). strong.

Median Industrials: 6.0 of 9

Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.

Debt / equity

0.55 at fiscal year end

Rank 53 of 100: lower than 53% of 199 peers (All). medium.

Rank 58 of 100: lower than 58% of 32 peers (Sector). medium.

Median Industrials: 0.62

Long-term financial debt divided by equity.

Liquidity (current ratio)

1.76 at fiscal year end

Rank 64 of 100: higher than 64% of 215 peers (All). medium.

Rank 83 of 100: higher than 83% of 33 peers (Sector). strong.

Median Industrials: 1.22

Current assets divided by current liabilities.

Change in share count

−6.9% in 5 years

Rank 70 of 100: lower than 70% of 199 peers (All). strong.

Rank 64 of 100: lower than 64% of 29 peers (Sector). medium.

Median Industrials: −5.4%

Change in diluted share count. Negative = share buybacks, positive = new shares.

The 9 criteria of the Piotroski F-Score
  • met: Profit in the last fiscal year (positive return on assets)
  • met: Positive operating cash flow
  • not met: Return on assets higher than the prior year
  • met: Operating cash flow higher than net income
  • not met: Long-term debt relative to total assets fell
  • met: Liquidity (current assets / current liabilities) rose
  • met: No additional shares (diluted share count did not rise)
  • met: Gross margin higher than the prior year
  • met: Revenue relative to total assets higher than the prior year

Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.

Price-based criteria (P/E, dividend yield) are shown to signed-in users.

Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.

In short

  • Light green: Revenue grew over 5 years (+11.2% per year), at least as fast as the sector median.
  • Light green: Net income (total) grew over 5 years (+10.3% per year), at least as fast as the sector median; per share +11.3% per year.
  • Light yellow: Net margin 8.8%, below the sector median (11.1%).
  • Light green: Debt not higher than usual in the sector.
  • Light green: Profit in each of the last 10 fiscal years.

Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.

RevenueNet income Net margin (below) in USD
  1. Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Revenue 17.5B USD · Net income 1.5B USD · Net margin 8.3%
  2. Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Revenue 20.4B USD · Net income 994.0M USD · Net margin 4.9%
  3. Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Revenue 23.8B USD · Net income 2.2B USD · Net margin 9.2%
  4. Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Revenue 23.6B USD · Net income 2.3B USD · Net margin 9.6%
  5. Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Revenue 19.8B USD · Net income 1.8B USD · Net margin 9.1%
  6. Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Revenue 24.0B USD · Net income 2.2B USD · Net margin 9.0%
  7. Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Revenue 28.1B USD · Net income 2.2B USD · Net margin 7.8%
  8. Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Revenue 34.1B USD · Net income 840.0M USD · Net margin 2.5%
  9. Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Revenue 34.1B USD · Net income 4.1B USD · Net margin 11.9%
  10. Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 33.7B USD · Net income 3.0B USD · Net margin 8.8%

Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 33.7B USD · Net income 3.0B USD · Net margin 8.8%

Figures over time

Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.

Money flow in fiscal year 2025

Of 100 USD of revenue, 25.3 USD gross profit, 12.0 USD operating income and 8.4 USD net income remained.

Money flow as a table
Fiscal year 2025, amounts in USD, share of revenue
ItemAmountof revenue
Revenue33.7B USD100.0%
Gross profit8.5B USD25.3%
Cost of revenue25.2B USD74.7%
Operating income4.0B USD12.0%
Research & development1.4B USD4.1%
Other operating expenses3.1B USD9.2%
Net income2.8B USD8.4%
Interest expense329.0M USD1.0%
Taxes & other (net)853.0M USD2.5%

Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.

Margins

The operating margin stayed roughly the same in 5 years (12.0%).

Gross marginOperating marginNet margin
  1. Fiscal year 2016: Gross margin 25.4% · Operating margin 11.0% · Net margin 8.0%
  2. Fiscal year 2017: Gross margin 24.9% · Operating margin 11.6% · Net margin 4.9%
  3. Fiscal year 2018: Gross margin 24.1% · Operating margin 11.7% · Net margin 9.0%
  4. Fiscal year 2019: Gross margin 25.4% · Operating margin 11.5% · Net margin 9.6%
  5. Fiscal year 2020: Gross margin 24.7% · Operating margin 11.5% · Net margin 9.0%
  6. Fiscal year 2021: Gross margin 23.7% · Operating margin 11.3% · Net margin 8.9%
  7. Fiscal year 2022: Gross margin 23.9% · Operating margin 10.4% · Net margin 7.7%
  8. Fiscal year 2023: Gross margin 24.2% · Operating margin 5.2% · Net margin 2.2%
  9. Fiscal year 2024: Gross margin 24.7% · Operating margin 11.0% · Net margin 11.6%
  10. Fiscal year 2025: Gross margin 25.3% · Operating margin 12.0% · Net margin 8.4%

Returns

Return on equity stayed roughly the same in 5 years (23.0%).

Return on equityReturn on assets
  1. Fiscal year 2016: Return on equity 20.3% · Return on assets 9.3%
  2. Fiscal year 2017: Return on equity 13.8% · Return on assets 5.5%
  3. Fiscal year 2018: Return on equity 29.1% · Return on assets 11.2%
  4. Fiscal year 2019: Return on equity 30.1% · Return on assets 11.5%
  5. Fiscal year 2020: Return on equity 22.2% · Return on assets 7.9%
  6. Fiscal year 2021: Return on equity 25.1% · Return on assets 9.0%
  7. Fiscal year 2022: Return on equity 24.0% · Return on assets 7.1%
  8. Fiscal year 2023: Return on equity 8.3% · Return on assets 2.3%
  9. Fiscal year 2024: Return on equity 38.4% · Return on assets 12.5%
  10. Fiscal year 2025: Return on equity 23.0% · Return on assets 8.4%

Equity and long-term debt

The equity ratio stayed roughly the same in 5 years (36.3%).

EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.
  1. Fiscal year 2016: Equity 6.9B USD · Long-term debt 1.6B USD
  2. Fiscal year 2017: Equity 7.3B USD · Long-term debt 1.6B USD
  3. Fiscal year 2018: Equity 7.3B USD · Long-term debt 1.6B USD
  4. Fiscal year 2019: Equity 7.5B USD · Long-term debt 1.6B USD
  5. Fiscal year 2020: Equity 8.1B USD · Long-term debt 3.6B USD
  6. Fiscal year 2021: Equity 8.5B USD · Long-term debt 3.6B USD
  7. Fiscal year 2022: Equity 9.0B USD · Long-term debt 4.5B USD
  8. Fiscal year 2023: Equity 8.9B USD · Long-term debt 4.8B USD
  9. Fiscal year 2024: Equity 10.3B USD · Long-term debt 4.8B USD
  10. Fiscal year 2025: Equity 12.3B USD · Long-term debt 6.8B USD

Liquidity (current ratio)

The current ratio fell in 5 years from 1.88 to 1.76.

Current ratio
  1. Fiscal year 2016: Current ratio 1.78
  2. Fiscal year 2017: Current ratio 1.57
  3. Fiscal year 2018: Current ratio 1.54
  4. Fiscal year 2019: Current ratio 1.50
  5. Fiscal year 2020: Current ratio 1.88
  6. Fiscal year 2021: Current ratio 1.74
  7. Fiscal year 2022: Current ratio 1.27
  8. Fiscal year 2023: Current ratio 1.18
  9. Fiscal year 2024: Current ratio 1.31
  10. Fiscal year 2025: Current ratio 1.76

Cash flow

Free cash flow rose in 5 years from 2.2B USD to 2.4B USD.

Operating cash flowCapital expenditureFree cash flow in USD
  1. Fiscal year 2016: Operating cash flow 1.9B USD · Capital expenditure 531.0M USD · Free cash flow 1.4B USD
  2. Fiscal year 2017: Operating cash flow 2.3B USD · Capital expenditure 506.0M USD · Free cash flow 1.8B USD
  3. Fiscal year 2018: Operating cash flow 2.4B USD · Capital expenditure 709.0M USD · Free cash flow 1.7B USD
  4. Fiscal year 2019: Operating cash flow 3.2B USD · Capital expenditure 700.0M USD · Free cash flow 2.5B USD
  5. Fiscal year 2020: Operating cash flow 2.7B USD · Capital expenditure 528.0M USD · Free cash flow 2.2B USD
  6. Fiscal year 2021: Operating cash flow 2.3B USD · Capital expenditure 734.0M USD · Free cash flow 1.5B USD
  7. Fiscal year 2022: Operating cash flow 2.0B USD · Capital expenditure 916.0M USD · Free cash flow 1.0B USD
  8. Fiscal year 2023: Operating cash flow 4.0B USD · Capital expenditure 1.2B USD · Free cash flow 2.8B USD
  9. Fiscal year 2024: Operating cash flow 1.5B USD · Capital expenditure 1.2B USD · Free cash flow 279.0M USD
  10. Fiscal year 2025: Operating cash flow 3.6B USD · Capital expenditure 1.2B USD · Free cash flow 2.4B USD

Share count

The share count fell in 5 years by 6.9% (mostly through share repurchases).

Diluted share count
  1. Fiscal year 2016: Diluted share count 169.3M
  2. Fiscal year 2017: Diluted share count 167.3M
  3. Fiscal year 2018: Diluted share count 162.8M
  4. Fiscal year 2019: Diluted share count 156.1M
  5. Fiscal year 2020: Diluted share count 149.0M
  6. Fiscal year 2021: Diluted share count 145.9M
  7. Fiscal year 2022: Diluted share count 142.3M
  8. Fiscal year 2023: Diluted share count 142.7M
  9. Fiscal year 2024: Diluted share count 139.1M
  10. Fiscal year 2025: Diluted share count 138.7M

From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.

Dividends and share repurchases

How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.

Dividend per share
7.64 USD · Fiscal year 2025
Dividend growth per year
3 y +8.1%5 y +7.7%10 y –
Years without a cut
at least 8 as far as the data goes
Payout ratio
of earnings 37% of free cash flow 44%
To shareholders (5 years)
6.4B USD 28% through repurchases
Share count over 5 years
−6.9% fewer shares – each share is a larger stake

Dividend per share

The dividend per share rose in 5 years from 5.28 USD to 7.64 USD.

Dividend per share USD per share Per share as filed with the SEC, including special dividends; obvious filing errors are hidden.
  1. Fiscal year 2016: Dividend per share not available
  2. Fiscal year 2017: Dividend per share 4.21 USD
  3. Fiscal year 2018: Dividend per share 4.44 USD
  4. Fiscal year 2019: Dividend per share 4.90 USD
  5. Fiscal year 2020: Dividend per share 5.28 USD
  6. Fiscal year 2021: Dividend per share 5.60 USD
  7. Fiscal year 2022: Dividend per share 6.04 USD
  8. Fiscal year 2023: Dividend per share 6.50 USD
  9. Fiscal year 2024: Dividend per share 7.00 USD
  10. Fiscal year 2025: Dividend per share 7.64 USD

Payout ratios

The payout ratio fell in 5 years from 44.0% to 37.3%.

Payout ratio (earnings)Payout ratio (free cash flow)
  1. Fiscal year 2016: Payout ratio (earnings) not available · Payout ratio (free cash flow) not available
  2. Fiscal year 2017: Payout ratio (earnings) 70.5% · Payout ratio (free cash flow) 39.6%
  3. Fiscal year 2018: Payout ratio (earnings) 33.8% · Payout ratio (free cash flow) 43.0%
  4. Fiscal year 2019: Payout ratio (earnings) 33.8% · Payout ratio (free cash flow) 30.7%
  5. Fiscal year 2020: Payout ratio (earnings) 44.0% · Payout ratio (free cash flow) 35.6%
  6. Fiscal year 2021: Payout ratio (earnings) 38.3% · Payout ratio (free cash flow) 53.2%
  7. Fiscal year 2022: Payout ratio (earnings) 39.9% · Payout ratio (free cash flow) 81.7%
  8. Fiscal year 2023: Payout ratio (earnings) 126.2% · Payout ratio (free cash flow) 33.5%
  9. Fiscal year 2024: Payout ratio (earnings) 24.7% · Payout ratio (free cash flow) 347.3%
  10. Fiscal year 2025: Payout ratio (earnings) 37.3% · Payout ratio (free cash flow) 44.2%

What goes back to shareholders

Over 5 years, 6.4B USD went back to shareholders, 28% of it through share repurchases. That is 80% of the free cash flow of those years. This was offset by new shares issued for 56.0M USD (including employee plans).

Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USD
  1. Fiscal year 2016: Dividends paid not available · Share repurchases 778.0M USD · New shares issued (including employee plans) not available · Free cash flow 1.4B USD
  2. Fiscal year 2017: Dividends paid 701.0M USD · Share repurchases 451.0M USD · New shares issued (including employee plans) not available · Free cash flow 1.8B USD
  3. Fiscal year 2018: Dividends paid 718.0M USD · Share repurchases 1.1B USD · New shares issued (including employee plans) 13.0M USD · Free cash flow 1.7B USD
  4. Fiscal year 2019: Dividends paid 761.0M USD · Share repurchases 1.3B USD · New shares issued (including employee plans) 76.0M USD · Free cash flow 2.5B USD
  5. Fiscal year 2020: Dividends paid 782.0M USD · Share repurchases 641.0M USD · New shares issued (including employee plans) 88.0M USD · Free cash flow 2.2B USD
  6. Fiscal year 2021: Dividends paid 809.0M USD · Share repurchases 1.4B USD · New shares issued (including employee plans) 56.0M USD · Free cash flow 1.5B USD
  7. Fiscal year 2022: Dividends paid 855.0M USD · Share repurchases 374.0M USD · New shares issued (including employee plans) not available · Free cash flow 1.0B USD
  8. Fiscal year 2023: Dividends paid 921.0M USD · Share repurchases 0.0 USD · New shares issued (including employee plans) not available · Free cash flow 2.8B USD
  9. Fiscal year 2024: Dividends paid 969.0M USD · Share repurchases 0.0 USD · New shares issued (including employee plans) not available · Free cash flow 279.0M USD
  10. Fiscal year 2025: Dividends paid 1.1B USD · Share repurchases not available · New shares issued (including employee plans) not available · Free cash flow 2.4B USD

Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.

Valuation over time

Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users.

Sector comparison

Cummins next to 8 stocks of the sector Industrials we cover that are closest in revenue. Click a column header to sort the table.

Sector comparison CMI, sector Industrials; last row: sector median
Symbol Revenue (FY) Growth 5 yrsGross marginOp. marginNet marginROEEquity ratioFCF marginPiotroski
GE GE Aerospace 45.9B USD −10.4%––19.0%46.6%14.3%15.8%–
DE Deere & Company 45.7B USD +5.2%––11.0%19.4%24.5%––
GEV GE Vernova 38.1B USD –19.8%3.6%12.8%43.7%17.7%9.7%–
CMI Cummins this stock 33.7B USD +11.2%25.3%12.0%8.4%23.0%36.3%7.1%7/9
PWR Quanta Services 28.5B USD +20.5%15.0%5.7%3.6%11.5%35.9%5.7%5/9
ETN Eaton Corporation 27.4B USD +9.0%37.6%–14.9%21.0%47.1%12.9%6/9
WM Waste Management 25.2B USD +10.6%40.4%17.1%10.7%27.1%21.8%11.2%6/9
MMM 3M 24.9B USD −5.0%39.9%18.6%13.0%69.1%12.5%5.6%5/9
UNP Union Pacific Corporation 24.5B USD +4.6%–40.2%29.1%38.7%26.5%22.4%–
Median of the sector 34 symbols 24.1B USD +9.2%35.4%10.4%12.9%26.3%33.2%9.7%6/9

Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).

Banks and insurers: gross margin (only if reported), free cash flow margin and Piotroski are not meaningful there (“–”).

Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.

Key figures with traffic lights

Each light follows a simple, disclosed rule. The comparison is with the sector median of all 90 symbols in the Industrials sector on our list (current members of the S&P 500 and other lists).

Revenue growth

Light green: above sector

+11.2% per year, last 5 years

Sector Industrials: median +8.0% (82 symbols)

What does this mean? Revenue: over 5 years it grew by 11.2% per year on average – at least as fast as the median company in the sector (+8.0%).

Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.

Net income (total)

Light green: above sector

+10.3% per year, last 5 years

Sector Industrials: median +10.0% (66 symbols)

per share: +11.3% per year (5 years, split-adjusted)

What does this mean? Total net income: over 5 years it grew by 10.3% per year on average – at least as fast as the median company in the sector (+10.0%).

Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.

Net margin

Light yellow: below sector

8.8% last fiscal year

Sector Industrials: median 11.1% (88 symbols)

What does this mean? Of every 100 USD in revenue, 8.78 USD remained as profit – less than the median company in the sector (11.1%). Five years ago the margin was 9.1%.

Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.

Debt / equity

Light green: lower than sector

0.52 latest balance sheet

Sector Industrials: median 0.58 (77 symbols)

What does this mean? For every 1 USD of equity there is 0.52 USD of financial debt – no more than the median company in the sector (0.58). More debt amplifies good and bad years alike.

Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.

Payout ratio

Light green: covered

37% Dividend / earnings per share

Sector Industrials: median 35% (65 symbols)

What does this mean? Of every 1 USD of earnings per share, 0.37 USD went to shareholders as a dividend. The rest stays in the company. Median company in the sector: 35%.

Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.

Profitable years

Light green: profit every year

10 of 10 fiscal years with a profit

What does this mean? In 10 of the last 10 fiscal years the bottom line showed a profit. There were no losses in this period.

Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).

Last fiscal year and 13F

Information, not a trading signal · Source: SEC EDGAR
Revenue (FY)
33.7B USD
Revenue vs. prior year
−1.3%
Net income (FY)
3.0B USD
Net income vs. prior year
−27.3%
EPS (FY)
20.50 USD
13F funds with a position
0 of 9
Funds vs. prior quarter
−2
Shares held vs. prior quarter
−100.0%
Fiscal year to Dec 31, 2025 · 10-K filed Feb 10, 2026 · Balance sheet Jun 30, 2026 (filed Aug 4, 2026) · Price-based figures (P/E, P/S, dividend yield, market cap) only when logged in. · Values as first reported; debt = reported financial debt (US GAAP: long-term). 13F: reporting date Jun 30, 2026, 9 tracked funds have filed (latest Aug 14, 2026), filed with up to 45 days of delay. Stock positions only; comparison with Mar 31, 2026 only across funds that filed for both quarters.
All figures as a table
Fiscal years (amounts in USD, per share in USD)
YearEndRevenueNet income MarginEarnings per shareDividend per sharePayout
2025Dec 31, 2025 33.7B3.0B 8.8% 20.50 7.64 37%
2024Dec 31, 2024 34.1B4.1B 11.9% 28.37 7.00 25%
2023Dec 31, 2023 34.1B840.0M 2.5% 5.15 6.50 126%
2022Dec 31, 2022 28.1B2.2B 7.8% 15.12 6.04 40%
2021Dec 31, 2021 24.0B2.2B 9.0% 14.61 5.60 38%
2020Dec 31, 2020 19.8B1.8B 9.1% 12.01 5.28 44%
2019Dec 31, 2019 23.6B2.3B 9.6% 14.48 4.90 34%
2018Dec 31, 2018 23.8B2.2B 9.2% 13.15 4.44 34%
2017Dec 31, 2017 20.4B994.0M 4.9% 5.97 4.21 71%
2016Dec 31, 2016 17.5B1.5B 8.3% 8.23 – –
Quarters (amounts in USD, per share in USD)
QuarterEndRevenueNet income MarginEarnings per shareDividend per sharePayout
Q2/26Jun 30, 2026 9.5B968.0M 10.2% 6.73 2.00 30%
Q1/26Mar 31, 2026 8.4B680.0M 8.1% 4.71 2.00 42%
Q4/25*Dec 31, 2025 8.5B620.0M 7.3% – 2.00 –
Q3/25Sep 30, 2025 8.3B559.0M 6.7% 3.86 2.00 52%
Q2/25Jun 30, 2025 8.6B928.0M 10.7% 6.43 1.82 28%
Q1/25Mar 31, 2025 8.2B850.0M 10.4% 5.96 1.82 31%
Q4/24*Dec 31, 2024 8.4B445.0M 5.3% – 1.82 –
Q3/24Sep 30, 2024 8.5B843.0M 10.0% 5.86 1.82 31%
Q2/24Jun 30, 2024 8.8B752.0M 8.5% 5.26 1.68 32%
Q1/24Mar 31, 2024 8.4B2.0B 24.1% 14.03 1.68 12%
Q4/23*Dec 31, 2023 8.5B−1.4B −16.3% – 1.68 –
Q3/23Sep 30, 2023 8.4B690.0M 8.2% 4.59 1.68 37%

* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.

How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.

Insiders

All insider transactions
Insider purchases and sales on the market over 3, 6 and 12 months
PeriodPurchasesSalesNet
3 months $00 people $399.4K1 person −$399.4K
6 months $00 people $10.2M8 people −$10.2M
12 months $00 people $37.8M12 people −$37.8M

Latest transactions

  • Aug 24, 2026 Newsome Earl Officer Open-market sale 698 shares · $399.4K · SEC
  • May 14, 2026 Jackson Donald G Officer Open-market sale 480 shares · $341.0K · SEC
  • May 14, 2026 Jackson Donald G Officer Open-market sale 160 shares · $113.9K · SEC
  • May 14, 2026 Jackson Donald G Officer Open-market sale 90 shares · $64.1K · SEC
  • May 12, 2026 Bush Jennifer Mary Officer Open-market sale 1,799 shares · $1.3M · SEC
  • May 12, 2026 Bush Jennifer Mary Officer Open-market sale 1,158 shares · $805.1K · SEC

Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.

Trend score -70

Price vs. EMA 50-15
Price vs. EMA 200-15
EMA 50 vs. EMA 200-20
ADX (trend strength)-15
Highs and lows+10
Relative strength-15

Volatility and trend strength

ADX 14 (trend strength)39.4
Rel. strength 60 d−19.6%

ATR and moving averages as price values only when logged in.

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