CMINYSEEngines & TurbinesFiscal year ends December 31
CUMMINS INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$522.13−9.20 (-1.73%)
Close on Oct 19, 2026
- Market cap
- $72.32B
- P/E (TTM)
- 26.7
- Dividend yield
- 1.46%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
25.3%+0.6 pts over 5 years
Operating margin
12.0%+0.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -1.3% | +6.2% | +11.2% | +5.8% | |
| Gross profit | +0.9% | +8.2% | +11.7% | +5.6% | |
| Operating income | +7.3% | +11.2% | +12.1% | +6.9% | |
| EPS, diluted | -27.7% | +10.7% | +11.3% | +10.1% | |
| Free cash flow | +755.2% | +31.6% | +1.7% | +6.1% | |
| Dividend per share | +9.1% | +8.1% | +7.7% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Current ratio | 1.78 | 1.88 | 1.76 | |
| Debt to equity | 0.26 | 0.50 | 0.59 | |
| Net debt to EBITDA | 0.29× | 0.20× | 0.86× | |
| Interest coverage | 27.2× | 22.7× | 12.2× | |
| Inventory turnover | 4.8× | 4.3× | 4.4× | |
| Capex to revenue | 3.0% | 2.7% | 3.7% | |
| Diluted shares | 169M | 149M | 139M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Cummins generated $13.29B from operations and spent $11.69B on capital expenditure, dividends and share buybacks. 45% of that went back into the business.
Generated
$13.29B
Used
$11.69B
Capital expenditure$5.31B45%Dividends$4.61B39%Share buybacks$1.78B15%
DuPont needs revenue, assets and equity
This company does not report all three for consecutive years.
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero–
- Cash generatingOperating cash flow above zero$3.62B
- Return on assets improvedROA up on the prior year– → –
- Earnings backed by cashOperating cash flow above net income$3.62B vs –
- Less leverageLong-term debt to assets fell15.2% → 20.0%
- Better liquidityCurrent ratio rose1.31 → 1.76
- No dilutionShare count did not rise139M → 139M
- Gross margin improvedGross margin up on the prior year24.75% → 25.29%
- More efficientAsset turnover rose1.07 → 1.07