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Cummins (CMI) Financials

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$326.23 +9.00 (+2.84%)
Closing price 05/27/2025 03:59 PM Eastern
Extended Trading
$328.00 +1.76 (+0.54%)
As of 07:54 AM Eastern
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Annual Income Statements for Cummins

Annual Income Statements for Cummins

This table shows Cummins' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Income / (Loss) Attributable to Common Shareholders
3,946 735 2,151 2,131 1,789 2,260 2,141 999 1,394 1,399
Consolidated Net Income / (Loss)
4,068 840 2,183 2,164 1,811 2,268 2,187 994 1,456 1,470
Net Income / (Loss) Continuing Operations
4,068 840 2,183 2,164 1,811 2,268 2,187 994 1,456 1,470
Total Pre-Tax Income
4,903 1,626 2,819 2,751 2,338 2,834 2,753 2,365 1,930 2,025
Total Operating Income
3,750 1,278 2,929 2,200 1,817 2,370 2,392 1,977 1,579 1,742
Total Gross Profit
8,439 8,249 6,719 5,695 4,894 5,980 5,737 5,100 4,458 4,947
Total Revenue
34,102 34,065 28,074 24,021 19,811 23,571 23,771 20,428 17,509 19,110
Operating Revenue
34,102 34,065 28,074 24,021 19,811 23,571 23,771 20,428 17,509 19,110
Total Cost of Revenue
25,663 25,816 21,355 18,326 14,917 17,591 18,034 15,328 13,051 14,163
Operating Cost of Revenue
25,663 25,816 21,355 18,326 14,917 17,591 18,034 15,328 13,051 14,163
Total Operating Expenses
5,084 6,971 4,139 3,495 3,077 3,610 3,345 3,123 2,879 3,205
Selling, General & Admin Expense
3,275 3,333 2,687 2,374 2,125 2,454 2,437 2,429 2,099 2,092
Research & Development Expense
1,463 1,500 1,278 1,090 906 1,001 902 754 637 735
Other Operating Expenses / (Income)
346 2,138 174 31 46 36 6.00 -60 5.00 17
Total Other Income / (Expense), net
1,548 348 239 551 521 464 361 388 351 283
Interest Expense
370 375 199 111 100 109 114 81 69 65
Interest & Investment Income
395 483 349 506 452 330 394 375 324 339
Other Income / (Expense), net
1,523 240 89 156 169 243 81 94 96 9.00
Income Tax Expense
835 786 636 587 527 566 566 1,371 474 555
Net Income / (Loss) Attributable to Noncontrolling Interest
122 105 32 33 22 8.00 46 -5.00 62 71
Basic Earnings per Share
$28.55 $5.19 $15.20 $14.74 $12.07 $14.54 $13.20 $5.99 $8.25 $7.86
Weighted Average Basic Shares Outstanding
137.48M 283.71M 282.75M 284.85M 295.32M 150.27M 162.17M 166.63M 169.04M 178.04M
Diluted Earnings per Share
$28.37 $5.15 $15.12 $14.61 $12.01 $14.48 $13.15 $5.97 $8.23 $7.84
Weighted Average Diluted Shares Outstanding
137.48M 283.71M 282.75M 284.85M 295.32M 150.27M 162.17M 166.63M 169.04M 178.04M
Weighted Average Basic & Diluted Shares Outstanding
137.48M 283.71M 282.75M 284.85M 295.32M 150.27M 162.17M 166.63M 169.04M 178.04M

Quarterly Income Statements for Cummins

This table shows Cummins' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders
824 418 809 726 1,993 -1,431 656 720 790 631 400
Consolidated Net Income / (Loss)
850 445 843 752 2,028 -1,393 690 737 806 644 409
Net Income / (Loss) Continuing Operations
850 445 843 752 2,028 -1,393 690 737 806 644 409
Total Pre-Tax Income
1,117 662 1,043 977 2,221 -1,230 878 949 1,029 778 608
Total Operating Income
1,134 855 1,050 1,045 800 -1,562 950 864 1,026 898 626
Total Gross Profit
2,155 2,034 2,171 2,193 2,041 2,001 2,071 2,148 2,029 1,819 1,642
Total Revenue
8,174 8,447 8,456 8,796 8,403 8,543 8,431 8,638 8,453 7,770 7,333
Operating Revenue
8,174 8,447 8,456 8,796 8,403 8,543 8,431 8,638 8,453 7,770 7,333
Total Cost of Revenue
6,019 6,413 6,285 6,603 6,362 6,542 6,360 6,490 6,424 5,951 5,691
Operating Cost of Revenue
6,019 6,413 6,285 6,603 6,362 6,542 6,360 6,490 6,424 5,951 5,691
Total Operating Expenses
1,152 1,372 1,220 1,251 1,241 3,326 1,239 1,284 1,122 1,105 1,086
Selling, General & Admin Expense
771 801 807 828 839 876 831 873 753 742 708
Research & Development Expense
344 356 359 379 369 390 376 384 350 333 348
Other Operating Expenses / (Income)
37 215 54 44 33 2,060 32 27 19 30 30
Total Other Income / (Expense), net
114 - 92 35 1,421 95 46 85 122 64 52
Interest Expense
77 89 83 109 89 92 97 99 87 87 61
Interest & Investment Income
131 70 99 103 123 113 118 133 119 88 70
Other Income / (Expense), net
60 19 76 41 1,387 74 25 51 90 63 43
Income Tax Expense
267 217 200 225 193 163 188 212 223 134 199
Net Income / (Loss) Attributable to Noncontrolling Interest
26 27 34 26 35 38 34 17 16 13 9.00
Basic Earnings per Share
$5.99 $3.25 $5.90 $5.30 $14.10 ($10.10) $4.63 $5.08 $5.58 $4.46 $2.83
Weighted Average Basic Shares Outstanding
137.60M 137.48M 137.20M 137.10M 141.30M 283.71M 141.80M 141.70M 141.50M 282.75M 141.10M
Diluted Earnings per Share
$5.96 $3.22 $5.86 $5.26 $14.03 ($10.04) $4.59 $5.05 $5.55 $4.44 $2.82
Weighted Average Diluted Shares Outstanding
138.30M 137.48M 138.10M 137.90M 142.10M 283.71M 142.80M 142.50M 142.40M 282.75M 142M
Weighted Average Basic & Diluted Shares Outstanding
137.75M 137.48M 137.18M 137.05M 136.78M 283.71M 141.74M 141.65M 141.56M 282.75M 141.02M
Cash Dividends to Common per Share
$1.82 - $1.82 $1.68 $1.68 - $1.68 $1.57 $1.57 - $1.57

Annual Cash Flow Statements for Cummins

This table details how cash moves in and out of Cummins' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Change in Cash & Equivalents
-508 78 -491 -809 2,272 -174 -66 249 -591 -590
Net Cash From Operating Activities
1,487 3,966 1,962 2,256 2,722 3,181 2,378 2,277 1,939 2,065
Net Cash From Continuing Operating Activities
1,487 3,966 1,962 2,256 2,722 3,181 2,378 2,277 1,939 2,065
Net Income / (Loss) Continuing Operations
4,068 840 2,183 2,164 1,811 2,268 2,187 994 1,456 1,470
Consolidated Net Income / (Loss)
4,068 840 2,183 2,164 1,811 2,268 2,187 994 1,456 1,470
Depreciation Expense
1,065 1,024 784 662 673 672 611 583 530 514
Non-Cash Adjustments To Reconcile Net Income
-1,372 -207 114 -218 -156 97 111 418 57 278
Changes in Operating Assets and Liabilities, net
-2,274 2,309 -1,119 -352 394 144 -531 282 -104 -197
Net Cash From Investing Activities
-1,782 -1,643 -4,172 -873 -719 -1,150 -974 -1,052 -917 -918
Net Cash From Continuing Investing Activities
-1,782 -1,643 -4,172 -873 -719 -1,150 -974 -1,052 -917 -918
Purchase of Property, Plant & Equipment
-1,208 -1,213 -916 -734 -528 -775 -784 -587 -594 -799
Acquisitions
-58 -292 -3,191 0.00 0.00 -237 -107 -728 -135 -124
Purchase of Investments
-1,714 -1,395 -1,127 -806 -593 -515 -470 -194 -478 -274
Divestitures
-174 0.00 0.00 - - - - - 60 0.00
Sale and/or Maturity of Investments
1,460 1,334 1,151 673 469 345 387 342 204 270
Other Investing Activities, net
-88 -77 -89 -6.00 -67 32 - 5.00 12 -16
Net Cash From Financing Activities
-173 -2,177 1,669 -2,227 280 -2,095 -1,400 -1,074 -1,413 -1,650
Net Cash From Continuing Financing Activities
-173 -2,177 1,669 -2,227 280 -2,095 -1,400 -1,074 -1,413 -1,650
Repayment of Debt
-1,637 -1,163 -1,466 -73 26 3.00 -62 -60 -163 -113
Repurchase of Common Equity
-50 -175 -374 -1,402 -641 -1,271 -1,140 -451 -778 -900
Payment of Dividends
-969 -921 -855 -809 -782 -794 -748 -730 -839 -681
Issuance of Debt
2,483 82 4,364 57 1,677 -109 519 167 367 44
Effect of Exchange Rate Changes
-40 -68 50 - -11 -110 -70 98 -200 -87

Quarterly Cash Flow Statements for Cummins

This table details how cash moves in and out of Cummins' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents
-139 -62 143 -3,624 3,035 -433 810 -178 -121 -398 37
Net Cash From Operating Activities
-3.00 1,422 640 -851 276 1,459 1,529 483 495 817 382
Net Cash From Continuing Operating Activities
-3.00 1,422 640 -3,517 2,942 1,459 1,529 483 495 817 382
Net Income / (Loss) Continuing Operations
850 445 843 752 2,028 -1,393 690 737 806 644 409
Consolidated Net Income / (Loss)
850 445 843 752 2,028 -1,393 690 737 806 644 409
Depreciation Expense
269 271 266 263 265 264 257 257 246 240 216
Non-Cash Adjustments To Reconcile Net Income
-64 -86 47 -2,626 1,293 -329 209 -62 -25 139 -38
Changes in Operating Assets and Liabilities, net
-1,058 792 -516 -1,906 -644 2,917 373 -449 -532 -206 -205
Net Cash From Investing Activities
-246 -713 -263 -400 -406 -783 -254 -378 -228 -676 -2,920
Net Cash From Continuing Investing Activities
-246 -713 -263 -400 -406 -783 -254 -378 -228 -676 -2,920
Purchase of Property, Plant & Equipment
-162 -540 -259 -240 -169 -519 -280 -221 -193 -463 -202
Acquisitions
-12 - - 175 -233 -165 7.00 -134 0.00 -183 -2,763
Purchase of Investments
-517 -652 -349 -334 -379 -419 -328 -322 -326 -389 -305
Divestitures
0.00 - - - - - - - 0.00 - -
Sale and/or Maturity of Investments
432 347 428 254 431 332 382 275 345 332 358
Other Investing Activities, net
13 132 -83 -81 -56 -12 -35 24 -54 27 -8.00
Net Cash From Financing Activities
92 -737 -243 308 499 -1,108 -466 -240 -363 -442 2,502
Net Cash From Continuing Financing Activities
92 -737 -243 308 499 -1,108 -466 -240 -363 -442 2,502
Repayment of Debt
-190 -157 -189 369 -1,660 -739 -187 -53 -184 -424 -961
Payment of Dividends
-251 -250 -250 -230 -239 -238 -238 -223 -222 -222 -222
Issuance of Debt
533 -280 196 169 2,398 -131 134 36 43 208 3,708
Effect of Exchange Rate Changes
18 -34 9.00 - - -1.00 1.00 -43 -25 -97 73

Annual Balance Sheets for Cummins

This table presents Cummins' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Total Assets
31,540 32,005 30,299 23,710 22,624 19,737 19,062 18,075 15,011 15,134
Total Current Assets
14,752 15,198 14,451 12,309 11,897 9,387 9,818 8,928 7,707 7,947
Cash & Equivalents
1,671 2,179 2,101 2,592 3,401 1,129 1,303 1,369 1,120 1,711
Short-Term Investments
593 562 472 595 461 341 222 198 260 100
Accounts Receivable
5,181 5,583 5,202 3,990 3,820 283 231 307 222 180
Inventories, net
5,742 5,677 5,603 4,355 3,425 3,486 3,759 3,166 2,675 2,707
Prepaid Expenses
1,565 1,197 1,073 777 790 761 668 577 627 609
Plant, Property, & Equipment, net
6,356 6,249 5,521 4,422 4,255 4,245 4,096 3,927 3,800 3,745
Total Noncurrent Assets
10,432 10,558 10,327 6,979 6,472 6,105 5,148 5,220 3,504 3,442
Long-Term Investments
1,889 1,800 1,759 1,538 1,441 1,237 1,222 1,156 946 975
Goodwill
2,370 2,499 2,343 1,287 1,293 1,286 1,126 1,082 480 482
Intangible Assets
2,351 2,519 2,687 900 963 1,003 909 973 332 328
Employee Benefit Assets
1,189 1,197 1,398 1,488 1,042 1,001 929 1,043 731 735
Other Noncurrent Operating Assets
2,633 2,543 2,140 1,766 1,733 1,578 962 966 1,015 922
Total Liabilities & Shareholders' Equity
31,540 32,005 30,299 23,710 22,624 19,737 19,062 18,075 15,011 15,134
Total Liabilities
20,232 22,101 20,074 14,309 13,635 11,272 10,803 9,911 7,837 7,384
Total Current Liabilities
11,234 12,903 11,421 7,084 6,335 6,260 6,384 5,677 4,325 3,803
Short-Term Debt
2,275 1,894 3,357 580 554 791 879 418 288 63
Accounts Payable
3,951 4,260 4,252 3,021 2,820 2,534 2,822 2,579 1,854 1,706
Accrued Expenses
2,577 4,421 2,191 1,945 1,786 1,842 1,506 1,369 1,303 1,222
Current Deferred Revenue
1,347 1,220 1,004 855 691 533 498 500 468 403
Current Employee Benefit Liabilities
1,084 1,108 617 683 484 560 679 811 412 409
Total Noncurrent Liabilities
8,998 9,198 8,653 7,225 7,300 5,012 4,419 4,234 3,512 3,581
Long-Term Debt
4,784 4,802 4,498 3,579 3,610 1,576 1,597 1,588 1,568 1,576
Noncurrent Deferred Revenue
1,065 966 844 850 840 821 658 1,561 1,289 1,358
Other Noncurrent Operating Liabilities
3,149 3,430 3,311 2,796 2,220 2,024 1,632 466 - -
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
11,308 9,904 9,967 9,035 8,989 8,465 8,259 8,164 7,174 7,750
Total Preferred & Common Equity
10,271 8,850 8,975 8,146 8,062 7,507 7,348 7,259 6,875 7,406
Total Common Equity
10,271 8,850 8,975 8,146 8,062 7,507 7,348 7,259 6,875 7,406
Common Stock
2,636 2,564 2,243 2,099 2,404 2,346 2,271 2,210 2,153 2,178
Retained Earnings
20,828 17,851 18,037 16,741 15,419 14,416 12,917 11,464 11,040 10,322
Treasury Stock
-10,748 -9,359 -9,415 -9,123 -7,779 -7,225 -6,028 -4,905 -4,489 -3,735
Accumulated Other Comprehensive Income / (Loss)
-2,445 -2,206 -1,890 -1,571 -1,982 -2,028 -1,807 -1,503 -1,821 -1,348
Noncontrolling Interest
1,037 1,054 992 889 927 958 911 905 299 344

Quarterly Balance Sheets for Cummins

This table presents Cummins' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Total Assets
32,531 31,540 32,052 31,320 31,827 32,005 32,097 31,735 31,433 30,299 29,769
Total Current Assets
15,540 14,752 15,316 14,962 15,620 15,198 15,912 15,410 15,368 14,451 14,398
Cash & Equivalents
1,532 1,671 1,733 1,590 2,541 2,179 2,387 1,802 1,980 2,101 2,499
Short-Term Investments
626 593 518 593 510 562 452 512 459 472 466
Accounts Receivable
5,680 5,181 5,387 5,606 5,463 5,583 5,662 5,863 5,834 5,202 4,799
Inventories, net
6,123 5,742 6,134 5,857 5,758 5,677 5,906 6,026 5,878 5,603 5,543
Prepaid Expenses
1,579 1,565 1,544 1,316 1,348 1,197 1,280 1,207 1,217 1,073 1,091
Plant, Property, & Equipment, net
6,407 6,356 6,176 6,053 6,011 6,249 5,801 5,723 5,590 5,521 5,201
Plant, Property & Equipment, gross
12,007 - 11,603 11,417 11,253 - 11,098 10,922 10,629 - 10,231
Accumulated Depreciation
5,600 - 5,427 5,364 5,242 - 5,297 5,199 5,039 - 5,030
Total Noncurrent Assets
10,584 10,432 10,560 10,305 10,196 10,558 10,384 10,602 10,475 10,327 10,170
Long-Term Investments
1,990 1,889 1,922 1,828 1,774 1,800 1,785 1,861 1,860 1,759 1,826
Goodwill
2,397 2,370 2,412 2,394 2,406 2,499 2,379 2,404 2,365 2,343 2,229
Intangible Assets
2,401 2,351 2,462 2,502 2,455 2,519 2,518 2,584 2,640 2,687 2,602
Employee Benefit Assets
1,150 1,189 1,208 1,192 1,187 1,197 1,500 1,523 1,496 1,398 1,536
Other Noncurrent Operating Assets
2,646 2,633 2,556 2,389 2,374 2,543 2,202 2,230 2,114 2,140 1,977
Total Liabilities & Shareholders' Equity
32,531 31,540 32,052 31,320 31,827 32,005 32,097 31,735 31,433 30,299 29,769
Total Liabilities
20,560 20,232 20,711 20,744 21,726 22,101 20,419 20,379 20,552 20,074 20,159
Total Current Liabilities
11,575 11,234 11,603 11,144 11,686 12,903 11,126 11,045 11,923 11,421 10,530
Short-Term Debt
2,692 2,275 2,731 2,077 1,064 1,894 2,514 2,611 3,343 3,357 2,665
Accounts Payable
4,311 3,951 4,206 4,405 4,476 4,260 4,262 4,308 4,636 4,252 4,000
Accrued Expenses
2,543 2,577 2,430 2,550 4,349 4,421 2,437 2,388 2,394 2,191 2,369
Current Deferred Revenue
1,506 1,347 1,225 1,311 1,236 1,220 1,029 1,017 1,040 1,004 921
Current Employee Benefit Liabilities
523 1,084 1,011 801 561 1,108 884 721 510 617 575
Total Noncurrent Liabilities
8,985 8,998 9,108 9,600 10,040 9,198 9,293 9,334 8,629 8,653 9,629
Long-Term Debt
4,796 4,784 4,856 5,426 5,771 4,802 4,950 5,089 4,409 4,498 5,450
Noncurrent Deferred Revenue
1,053 1,065 1,090 1,046 1,061 966 1,011 939 937 844 867
Other Noncurrent Operating Liabilities
3,136 3,149 3,162 3,128 3,208 3,430 3,332 3,306 3,283 3,311 2,634
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
11,971 11,308 11,341 10,576 10,101 9,904 11,678 11,356 10,620 9,967 9,358
Total Preferred & Common Equity
10,924 10,271 10,315 9,551 9,067 8,850 10,658 10,337 9,623 8,975 8,380
Total Common Equity
11,009 10,271 10,315 9,551 9,153 8,850 10,658 10,337 9,623 8,975 8,380
Common Stock
2,600 2,636 2,612 2,582 2,557 2,564 2,558 2,532 2,230 2,243 2,214
Retained Earnings
21,401 20,828 20,660 20,101 19,605 17,851 19,520 19,102 18,605 18,037 17,628
Treasury Stock
-10,626 -10,748 -10,783 -10,797 -10,745 -9,359 -9,369 -9,380 -9,389 -9,415 -9,449
Accumulated Other Comprehensive Income / (Loss)
-2,366 -2,445 -2,174 -2,335 -2,264 -2,206 -2,051 -1,917 -1,823 -1,890 -2,013
Noncontrolling Interest
1,047 1,037 1,026 1,025 1,034 1,054 1,020 1,019 997 992 978

Annual Metrics And Ratios for Cummins

This table displays calculated financial ratios and metrics derived from Cummins' official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Growth Metrics
- - - - - - - - - -
Revenue Growth
0.11% 21.34% 16.87% 21.25% -15.95% -0.84% 16.36% 16.67% -8.38% -0.58%
EBITDA Growth
149.33% -33.14% 25.98% 13.50% -19.06% 6.52% 16.20% 20.36% -2.65% -11.52%
EBIT Growth
247.37% -49.70% 28.10% 18.63% -24.00% 5.66% 19.41% 23.64% -4.34% -16.82%
NOPAT Growth
371.26% -70.89% 31.07% 22.96% -25.79% -0.19% 128.69% -30.24% -5.80% -11.13%
Net Income Growth
384.29% -61.52% 0.88% 19.49% -20.15% 3.70% 120.02% -31.73% -0.95% -15.32%
EPS Growth
450.87% -65.94% 3.49% 21.65% -17.06% 10.11% 120.27% -27.46% 4.97% -13.08%
Operating Cash Flow Growth
-62.51% 102.14% -13.03% -17.12% -14.43% 33.77% 4.44% 17.43% -6.10% -8.87%
Free Cash Flow Firm Growth
-59.29% 188.82% -454.74% -55.69% -4.39% 29.46% 1,445.88% -91.94% 2.31% 25.52%
Invested Capital Growth
17.87% -12.29% 55.61% 12.55% -3.38% 1.72% 7.26% 11.08% 1.53% 3.11%
Revenue Q/Q Growth
-0.28% 2.32% 7.34% 0.08% 1.29% -2.27% 2.81% 5.00% -1.48% -1.67%
EBITDA Q/Q Growth
59.69% -48.82% 24.25% -8.18% 8.13% -8.78% 4.65% 4.49% 16.42% -14.69%
EBIT Q/Q Growth
81.14% -61.73% 28.37% -9.94% 11.51% -11.51% 5.64% 5.23% 22.08% -18.44%
NOPAT Q/Q Growth
215.16% -77.69% 31.09% -11.51% 15.24% -14.72% 74.22% -39.45% 17.24% -16.71%
Net Income Q/Q Growth
82.42% -70.80% 12.58% -4.84% 13.26% -12.09% 72.48% -41.50% 17.61% -16.43%
EPS Q/Q Growth
87.76% -73.76% 12.58% -4.13% 12.56% -9.67% 65.83% -39.33% 18.76% -16.06%
Operating Cash Flow Q/Q Growth
-2.43% 19.31% 4.53% -15.38% 12.57% -4.56% 8.39% 8.64% -8.36% 8.23%
Free Cash Flow Firm Q/Q Growth
82.08% 46.80% 6.20% -53.25% 12.21% -1.47% -1.98% 157.92% -23.92% 19.70%
Invested Capital Q/Q Growth
-3.67% -15.63% 6.29% 5.38% -2.16% -2.12% 1.59% -8.73% 1.04% -6.37%
Profitability Metrics
- - - - - - - - - -
Gross Margin
24.75% 24.22% 23.93% 23.71% 24.70% 25.37% 24.13% 24.97% 25.46% 25.89%
EBITDA Margin
18.59% 7.46% 13.54% 12.56% 13.42% 13.94% 12.97% 12.99% 12.59% 11.85%
Operating Margin
11.00% 3.75% 10.43% 9.16% 9.17% 10.05% 10.06% 9.68% 9.02% 9.12%
EBIT Margin
15.46% 4.46% 10.75% 9.81% 10.02% 11.09% 10.40% 10.14% 9.57% 9.16%
Profit (Net Income) Margin
11.93% 2.47% 7.78% 9.01% 9.14% 9.62% 9.20% 4.87% 8.32% 7.69%
Tax Burden Percent
82.97% 51.66% 77.44% 78.66% 77.46% 80.03% 79.44% 42.03% 75.44% 72.59%
Interest Burden Percent
92.98% 107.11% 93.41% 116.77% 117.72% 108.46% 111.32% 114.20% 115.22% 115.65%
Effective Tax Rate
17.03% 48.34% 22.56% 21.34% 22.54% 19.97% 20.56% 57.97% 24.56% 27.41%
Return on Invested Capital (ROIC)
23.68% 5.12% 20.09% 20.74% 17.62% 23.54% 24.62% 11.74% 17.90% 19.44%
ROIC Less NNEP Spread (ROIC-NNEP)
61.49% 11.45% 14.33% -30.10% -36.95% -98.01% -33.43% -15.73% -14.85% 4.96%
Return on Net Nonoperating Assets (RNNOA)
14.67% 3.23% 2.16% 2.79% 3.13% 3.58% 2.01% 1.22% 1.61% -0.89%
Return on Equity (ROE)
38.36% 8.35% 22.25% 23.53% 20.75% 27.12% 26.63% 12.96% 19.51% 18.56%
Cash Return on Invested Capital (CROIC)
7.28% 18.21% -23.42% 8.94% 21.06% 21.84% 17.61% 1.24% 16.39% 16.38%
Operating Return on Assets (OROA)
16.60% 4.87% 11.18% 10.17% 9.38% 13.47% 13.32% 12.52% 11.11% 11.33%
Return on Assets (ROA)
12.80% 2.70% 8.08% 9.34% 8.55% 11.69% 11.78% 6.01% 9.66% 9.52%
Return on Common Equity (ROCE)
34.57% 7.39% 19.41% 20.74% 18.51% 24.09% 23.69% 11.94% 18.67% 17.75%
Return on Equity Simple (ROE_SIMPLE)
39.61% 9.49% 24.32% 26.57% 22.46% 30.21% 29.76% 13.69% 21.18% 19.85%
Net Operating Profit after Tax (NOPAT)
3,111 660 2,268 1,731 1,407 1,897 1,900 831 1,191 1,265
NOPAT Margin
9.12% 1.94% 8.08% 7.20% 7.10% 8.05% 7.99% 4.07% 6.80% 6.62%
Net Nonoperating Expense Percent (NNEP)
-37.80% -6.33% 5.76% 50.84% 54.57% 121.55% 58.05% 27.48% 32.75% 14.49%
Return On Investment Capital (ROIC_SIMPLE)
16.94% 3.98% 12.73% - - - - - - -
Cost of Revenue to Revenue
75.25% 75.78% 76.07% 76.29% 75.30% 74.63% 75.87% 75.03% 74.54% 74.11%
SG&A Expenses to Revenue
9.60% 9.78% 9.57% 9.88% 10.73% 10.41% 10.25% 11.89% 11.99% 10.95%
R&D to Revenue
4.29% 4.40% 4.55% 4.54% 4.57% 4.25% 3.79% 3.69% 3.64% 3.85%
Operating Expenses to Revenue
14.91% 20.46% 14.74% 14.55% 15.53% 15.32% 14.07% 15.29% 16.44% 16.77%
Earnings before Interest and Taxes (EBIT)
5,273 1,518 3,018 2,356 1,986 2,613 2,473 2,071 1,675 1,751
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
6,338 2,542 3,802 3,018 2,659 3,285 3,084 2,654 2,205 2,265
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
4.66 3.75 3.62 3.60 3.83 3.26 2.53 3.40 2.74 1.67
Price to Tangible Book Value (P/TBV)
8.62 8.66 8.23 4.92 5.32 4.69 3.50 4.74 3.11 1.88
Price to Revenue (P/Rev)
1.40 0.97 1.16 1.22 1.56 1.04 0.78 1.21 1.08 0.65
Price to Earnings (P/E)
12.12 45.14 15.09 13.77 17.26 10.84 8.69 24.69 13.52 8.85
Dividend Yield
2.01% 2.78% 2.62% 2.73% 2.53% 3.07% 3.83% 2.83% 3.57% 5.04%
Earnings Yield
8.25% 2.22% 6.63% 7.26% 5.79% 9.23% 11.51% 4.05% 7.40% 11.30%
Enterprise Value to Invested Capital (EV/IC)
3.64 3.02 2.71 3.40 3.91 3.09 2.41 3.34 2.78 1.75
Enterprise Value to Revenue (EV/Rev)
1.52 1.07 1.33 1.25 1.55 1.07 0.81 1.22 1.07 0.61
Enterprise Value to EBITDA (EV/EBITDA)
8.17 14.31 9.79 9.95 11.53 7.64 6.24 9.36 8.47 5.11
Enterprise Value to EBIT (EV/EBIT)
9.82 23.97 12.33 12.75 15.44 9.61 7.78 12.00 11.15 6.61
Enterprise Value to NOPAT (EV/NOPAT)
16.64 55.12 16.41 17.35 21.79 13.24 10.12 29.91 15.67 9.15
Enterprise Value to Operating Cash Flow (EV/OCF)
34.81 9.18 18.97 13.31 11.27 7.89 8.09 10.91 9.63 5.60
Enterprise Value to Free Cash Flow (EV/FCFF)
54.13 15.49 0.00 40.28 18.23 14.27 14.15 282.63 17.12 10.86
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
0.62 0.68 0.77 0.44 0.46 0.28 0.30 0.25 0.26 0.21
Long-Term Debt to Equity
0.42 0.48 0.44 0.38 0.40 0.19 0.19 0.19 0.22 0.20
Financial Leverage
0.24 0.28 0.15 -0.09 -0.08 -0.04 -0.06 -0.08 -0.11 -0.18
Leverage Ratio
3.00 3.10 2.75 2.52 2.43 2.32 2.26 2.16 2.02 1.95
Compound Leverage Factor
2.79 3.32 2.57 2.94 2.86 2.52 2.52 2.46 2.33 2.26
Debt to Total Capital
38.43% 40.34% 43.45% 30.67% 31.66% 21.85% 23.06% 19.72% 20.55% 17.46%
Short-Term Debt to Total Capital
12.39% 11.41% 18.57% 4.28% 4.21% 7.30% 8.19% 4.11% 3.19% 0.67%
Long-Term Debt to Total Capital
26.05% 28.93% 24.88% 26.39% 27.45% 14.55% 14.88% 15.61% 17.36% 16.79%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
5.65% 6.35% 6.91% 9.26% 7.05% 8.84% 8.49% 8.90% 3.31% 3.66%
Common Equity to Total Capital
55.92% 53.31% 49.64% 60.07% 61.29% 69.31% 68.45% 71.38% 76.14% 78.88%
Debt to EBITDA
1.11 2.63 2.07 1.38 1.57 0.72 0.80 0.76 0.84 0.72
Net Debt to EBITDA
0.46 0.85 0.93 -0.19 -0.43 -0.10 -0.09 -0.27 -0.21 -0.51
Long-Term Debt to EBITDA
0.75 1.89 1.18 1.19 1.36 0.48 0.52 0.60 0.71 0.70
Debt to NOPAT
2.27 10.14 3.46 2.40 2.96 1.25 1.30 2.41 1.56 1.30
Net Debt to NOPAT
0.93 3.26 1.55 -0.33 -0.81 -0.18 -0.14 -0.86 -0.39 -0.91
Long-Term Debt to NOPAT
1.54 7.27 1.98 2.07 2.56 0.83 0.84 1.91 1.32 1.25
Altman Z-Score
4.11 2.99 3.18 3.82 3.77 4.15 3.87 4.11 4.28 3.93
Noncontrolling Interest Sharing Ratio
9.86% 11.45% 12.76% 11.87% 10.80% 11.17% 11.06% 7.85% 4.31% 4.34%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
1.31 1.18 1.27 1.74 1.88 1.50 1.54 1.57 1.78 2.09
Quick Ratio
0.66 0.65 0.68 1.01 1.21 0.82 0.84 0.91 1.02 1.22
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
956 2,349 -2,645 746 1,682 1,760 1,359 88 1,090 1,066
Operating Cash Flow to CapEx
123.10% 326.96% 214.19% 307.36% 515.53% 410.45% 303.32% 477.36% 334.31% 266.80%
Free Cash Flow to Firm to Interest Expense
2.58 6.26 -13.29 6.72 16.82 16.14 11.92 1.09 15.80 16.39
Operating Cash Flow to Interest Expense
4.02 10.58 9.86 20.32 27.22 29.18 20.86 28.11 28.10 31.77
Operating Cash Flow Less CapEx to Interest Expense
0.75 7.34 5.26 13.71 21.94 22.07 13.98 22.22 19.70 19.86
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
1.07 1.09 1.04 1.04 0.94 1.22 1.28 1.23 1.16 1.24
Accounts Receivable Turnover
6.34 6.32 6.11 6.15 9.66 91.72 88.37 77.23 87.11 100.05
Inventory Turnover
4.49 4.58 4.29 4.71 4.32 4.86 5.21 5.25 4.85 5.08
Fixed Asset Turnover
5.41 5.79 5.65 5.54 4.66 5.65 5.93 5.29 4.64 5.14
Accounts Payable Turnover
6.25 6.07 5.87 6.28 5.57 6.57 6.68 6.92 7.33 7.90
Days Sales Outstanding (DSO)
57.60 57.78 59.75 59.34 37.80 3.98 4.13 4.73 4.19 3.65
Days Inventory Outstanding (DIO)
81.21 79.74 85.10 77.48 84.55 75.16 70.08 69.54 75.26 71.81
Days Payable Outstanding (DPO)
58.39 60.17 62.16 58.17 65.50 55.57 54.66 52.78 49.78 46.22
Cash Conversion Cycle (CCC)
80.42 77.35 82.70 78.65 56.85 23.58 19.55 21.49 29.67 29.24
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
14,214 12,059 13,748 8,835 7,850 8,125 7,988 7,447 6,704 6,603
Invested Capital Turnover
2.60 2.64 2.49 2.88 2.48 2.93 3.08 2.89 2.63 2.94
Increase / (Decrease) in Invested Capital
2,155 -1,689 4,913 985 -275 137 541 743 101 199
Enterprise Value (EV)
51,765 36,388 37,225 30,028 30,666 25,110 19,235 24,851 18,669 11,574
Market Capitalization
47,822 33,179 32,452 29,339 30,878 24,492 18,595 24,663 18,840 12,377
Book Value per Share
$74.87 $62.44 $63.64 $56.95 $54.47 $49.00 $45.76 $43.74 $40.86 $41.70
Tangible Book Value per Share
$40.46 $27.03 $27.97 $41.66 $39.23 $34.06 $33.09 $31.36 $36.03 $37.14
Total Capital
18,367 16,600 18,080 13,560 13,153 10,832 10,735 10,170 9,030 9,389
Total Debt
7,059 6,696 7,855 4,159 4,164 2,367 2,476 2,006 1,856 1,639
Total Long-Term Debt
4,784 4,802 4,498 3,579 3,610 1,576 1,597 1,588 1,568 1,576
Net Debt
2,906 2,155 3,523 -566 -1,139 -340 -271 -717 -470 -1,147
Capital Expenditures (CapEx)
1,208 1,213 916 734 528 775 784 477 580 774
Debt-free, Cash-free Net Working Capital (DFCFNWC)
3,529 1,448 3,814 2,618 2,254 2,448 2,788 2,102 2,290 2,396
Debt-free Net Working Capital (DFNWC)
5,793 4,189 6,387 5,805 6,116 3,918 4,313 3,669 3,670 4,207
Net Working Capital (NWC)
3,518 2,295 3,030 5,225 5,562 3,127 3,434 3,251 3,382 4,144
Net Nonoperating Expense (NNE)
-957 -180 85 -433 -404 -371 -287 -163 -265 -205
Net Nonoperating Obligations (NNO)
2,906 2,155 3,523 -566 -1,139 -340 -271 -717 -470 -1,147
Total Depreciation and Amortization (D&A)
1,065 1,024 784 662 673 672 611 583 530 514
Debt-free, Cash-free Net Working Capital to Revenue
10.35% 4.25% 13.59% 10.90% 11.38% 10.39% 11.73% 10.29% 13.08% 12.54%
Debt-free Net Working Capital to Revenue
16.99% 12.30% 22.75% 24.17% 30.87% 16.62% 18.14% 17.96% 20.96% 22.01%
Net Working Capital to Revenue
10.32% 6.74% 10.79% 21.75% 28.08% 13.27% 14.45% 15.91% 19.32% 21.69%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$28.55 $5.19 $15.20 $14.74 $12.07 $14.54 $13.20 $5.99 $8.25 $7.86
Adjusted Weighted Average Basic Shares Outstanding
137.48M 283.71M 282.75M 284.85M 295.32M 150.27M 157.34M 165.68M 168.16M 174.32M
Adjusted Diluted Earnings per Share
$28.37 $5.15 $15.12 $14.61 $12.01 $14.48 $13.15 $5.97 $8.23 $7.84
Adjusted Weighted Average Diluted Shares Outstanding
137.48M 283.71M 282.75M 284.85M 295.32M 150.27M 157.34M 165.68M 168.16M 174.32M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
137.48M 283.71M 282.75M 284.85M 295.32M 150.27M 157.34M 165.68M 168.16M 174.32M
Normalized Net Operating Profit after Tax (NOPAT)
3,111 660 2,268 1,731 1,407 1,992 1,900 1,384 1,295 1,527
Normalized NOPAT Margin
9.12% 1.94% 8.08% 7.20% 7.10% 8.45% 7.99% 6.77% 7.40% 7.99%
Pre Tax Income Margin
14.38% 4.77% 10.04% 11.45% 11.80% 12.02% 11.58% 11.58% 11.02% 10.60%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
14.25 4.05 15.17 21.23 19.86 23.97 21.69 25.57 24.28 26.94
NOPAT to Interest Expense
8.41 1.76 11.40 15.59 14.07 17.40 16.67 10.26 17.26 19.45
EBIT Less CapEx to Interest Expense
10.99 0.81 10.56 14.61 14.58 16.86 14.82 19.68 15.87 15.03
NOPAT Less CapEx to Interest Expense
5.14 -1.47 6.79 8.98 8.79 10.29 9.79 4.37 8.86 7.55
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
23.82% 109.64% 39.17% 37.38% 43.18% 35.01% 34.20% 73.44% 57.62% 46.33%
Augmented Payout Ratio
25.05% 130.48% 56.30% 102.17% 78.58% 91.05% 86.33% 118.81% 111.06% 107.55%

Quarterly Metrics And Ratios for Cummins

This table displays calculated financial ratios and metrics derived from Cummins' official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics
- - - - - - - - - - -
Revenue Growth
-2.73% -1.12% 0.30% 1.83% -0.59% 9.95% 14.97% 31.16% 32.39% 32.82% 22.87%
EBITDA Growth
-40.33% 193.55% 12.99% 15.10% 80.03% -201.92% 39.21% 10.98% 106.36% 161.66% 15.08%
EBIT Growth
-45.40% 158.74% 15.49% 18.69% 95.97% -254.84% 45.74% 2.92% 123.65% 226.87% 9.85%
NOPAT Growth
18.13% 152.56% 13.67% 19.87% -9.10% -247.09% 77.29% -9.54% 116.17% 283.61% -8.14%
Net Income Growth
-58.09% 131.95% 22.17% 2.04% 151.61% -316.30% 68.70% 4.24% 90.54% 61.00% -24.40%
EPS Growth
-57.52% 132.07% 27.67% 4.16% 152.79% -326.13% 62.77% 2.23% 90.07% 61.45% -23.58%
Operating Cash Flow Growth
-101.09% -2.54% -58.14% -276.19% -44.24% 78.58% 300.26% -19.37% 201.83% 11.61% -32.86%
Free Cash Flow Firm Growth
-179.13% -365.32% 163.14% 134.62% 166.56% 114.28% 85.17% -862.77% -712.36% -426.99% -4,337.05%
Invested Capital Growth
26.42% 17.87% 3.23% -5.46% -15.51% -12.29% 10.51% 56.02% 57.64% 55.61% 54.27%
Revenue Q/Q Growth
-3.23% -0.11% -3.87% 4.68% -1.64% 1.33% -2.40% 2.19% 8.79% 5.96% 11.34%
EBITDA Q/Q Growth
27.77% -17.74% 3.19% -44.98% 321.90% -199.35% 5.12% -13.95% 13.41% 35.71% -16.19%
EBIT Q/Q Growth
36.61% -22.38% 3.68% -50.34% 259.75% -252.62% 6.56% -18.01% 16.13% 43.65% -24.75%
NOPAT Q/Q Growth
50.14% -32.28% 5.51% 10.11% 172.32% -246.45% 11.27% -16.51% 8.11% 76.52% -43.23%
Net Income Q/Q Growth
91.01% -47.21% 12.10% -62.92% 245.59% -301.88% -6.38% -8.56% 25.16% 57.46% -42.15%
EPS Q/Q Growth
85.09% -45.05% 11.41% -62.51% 239.74% -318.74% -9.11% -9.01% 25.00% 57.45% -42.92%
Operating Cash Flow Q/Q Growth
-100.21% 122.19% 175.21% -408.33% -81.08% -4.58% 216.56% -2.42% -39.41% 113.87% -36.23%
Free Cash Flow Firm Q/Q Growth
-47.89% -508.70% -76.09% -45.24% 335.04% 197.25% 86.89% -5.29% -6.42% -0.99% -750.84%
Invested Capital Q/Q Growth
7.72% -3.67% 4.88% 16.16% 0.43% -15.63% -3.95% 3.82% 4.26% 6.29% 35.60%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
26.36% 24.08% 25.67% 24.93% 24.29% 23.42% 24.56% 24.87% 24.00% 23.41% 22.39%
EBITDA Margin
17.90% 13.56% 16.46% 15.34% 29.18% -14.33% 14.61% 13.57% 16.11% 15.46% 12.07%
Operating Margin
13.87% 10.12% 12.42% 11.88% 9.52% -18.28% 11.27% 10.00% 12.14% 11.56% 8.54%
EBIT Margin
14.61% 10.35% 13.32% 12.35% 26.03% -17.42% 11.56% 10.59% 13.20% 12.37% 9.12%
Profit (Net Income) Margin
10.40% 5.27% 9.97% 8.55% 24.13% -16.31% 8.18% 8.53% 9.54% 8.29% 5.58%
Tax Burden Percent
76.10% 67.22% 80.82% 76.97% 91.31% 113.25% 78.59% 77.66% 78.33% 82.78% 67.27%
Interest Burden Percent
93.55% 75.74% 92.63% 89.96% 101.55% 82.66% 90.05% 103.72% 92.20% 80.96% 90.88%
Effective Tax Rate
23.90% 32.78% 19.18% 23.03% 8.69% 0.00% 21.41% 22.34% 21.67% 17.22% 32.73%
Return on Invested Capital (ROIC)
26.08% 17.66% 23.63% 21.59% 22.36% -33.79% 21.66% 20.48% 24.46% 23.79% 14.09%
ROIC Less NNEP Spread (ROIC-NNEP)
25.60% 12.54% 23.44% 20.10% 69.87% -44.34% 19.75% 24.36% 24.61% 17.07% 13.20%
Return on Net Nonoperating Assets (RNNOA)
6.20% 2.99% 6.14% 6.43% 18.19% -12.51% 5.51% 3.95% 3.87% 2.57% 1.92%
Return on Equity (ROE)
32.29% 20.65% 29.77% 28.02% 40.55% -46.30% 27.17% 24.43% 28.33% 26.36% 16.01%
Cash Return on Invested Capital (CROIC)
-0.68% 7.28% 3.62% 11.83% 22.63% 18.21% 11.76% -22.18% -21.65% -23.42% -26.45%
Operating Return on Assets (OROA)
15.38% 11.11% 14.20% 13.38% 27.99% -19.05% 12.45% 12.13% 14.33% 12.86% 9.03%
Return on Assets (ROA)
10.95% 5.65% 10.63% 9.27% 25.95% -17.83% 8.81% 9.77% 10.35% 8.62% 5.52%
Return on Common Equity (ROCE)
29.49% 18.62% 27.13% 25.41% 36.29% -41.00% 24.29% 22.18% 25.28% 22.99% 14.16%
Return on Equity Simple (ROE_SIMPLE)
26.46% 0.00% 21.62% 21.75% 22.74% 0.00% 26.99% 25.11% 26.67% 0.00% 23.14%
Net Operating Profit after Tax (NOPAT)
863 575 849 804 730 -1,093 747 671 804 743 421
NOPAT Margin
10.56% 6.80% 10.04% 9.14% 8.69% -12.80% 8.86% 7.77% 9.51% 9.57% 5.74%
Net Nonoperating Expense Percent (NNEP)
0.48% 5.13% 0.19% 1.49% -47.50% 10.55% 1.91% -3.87% -0.15% 6.72% 0.90%
Return On Investment Capital (ROIC_SIMPLE)
4.43% 3.13% - - - -6.59% - - - 4.17% -
Cost of Revenue to Revenue
73.64% 75.92% 74.33% 75.07% 75.71% 76.58% 75.44% 75.13% 76.00% 76.59% 77.61%
SG&A Expenses to Revenue
9.43% 9.48% 9.54% 9.41% 9.98% 10.25% 9.86% 10.11% 8.91% 9.55% 9.66%
R&D to Revenue
4.21% 4.21% 4.25% 4.31% 4.39% 4.57% 4.46% 4.45% 4.14% 4.29% 4.75%
Operating Expenses to Revenue
14.09% 16.24% 14.43% 14.22% 14.77% 38.93% 14.70% 14.86% 13.27% 14.22% 14.81%
Earnings before Interest and Taxes (EBIT)
1,194 874 1,126 1,086 2,187 -1,488 975 915 1,116 961 669
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
1,463 1,145 1,392 1,349 2,452 -1,224 1,232 1,172 1,362 1,201 885
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
3.91 4.66 4.30 3.97 4.56 3.75 2.96 3.27 3.41 3.62 3.29
Price to Tangible Book Value (P/TBV)
6.94 8.62 8.16 8.14 9.73 8.66 5.47 6.32 7.11 8.23 7.76
Price to Revenue (P/Rev)
1.27 1.40 1.30 1.11 1.23 0.97 0.95 1.05 1.09 1.16 1.05
Price to Earnings (P/E)
15.52 12.12 21.16 19.48 21.55 45.14 11.28 13.29 13.01 15.09 14.39
Dividend Yield
2.28% 2.01% 2.12% 2.43% 2.24% 2.78% 2.87% 2.63% 2.65% 2.62% 3.03%
Earnings Yield
6.44% 8.25% 4.73% 5.13% 4.64% 2.22% 8.87% 7.52% 7.69% 6.63% 6.95%
Enterprise Value to Invested Capital (EV/IC)
3.10 3.64 3.31 3.01 3.70 3.02 2.46 2.58 2.62 2.71 2.48
Enterprise Value to Revenue (EV/Rev)
1.40 1.52 1.43 1.24 1.32 1.07 1.06 1.19 1.25 1.33 1.23
Enterprise Value to EBITDA (EV/EBITDA)
8.88 8.17 12.30 11.13 12.34 14.31 7.08 8.30 8.33 9.79 10.49
Enterprise Value to EBIT (EV/EBIT)
11.09 9.82 16.77 15.36 17.31 23.97 8.87 10.47 10.33 12.33 13.65
Enterprise Value to NOPAT (EV/NOPAT)
15.28 16.64 49.45 47.11 58.21 55.12 11.89 14.55 13.88 16.41 18.55
Enterprise Value to Operating Cash Flow (EV/OCF)
39.30 34.81 32.03 17.57 11.96 9.18 10.58 17.60 16.37 18.97 17.10
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 54.13 92.94 24.75 14.97 15.49 21.98 0.00 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.63 0.62 0.67 0.71 0.68 0.68 0.64 0.68 0.71 0.77 0.84
Long-Term Debt to Equity
0.40 0.42 0.43 0.51 0.57 0.48 0.42 0.45 0.41 0.44 0.57
Financial Leverage
0.24 0.24 0.26 0.32 0.26 0.28 0.28 0.16 0.16 0.15 0.15
Leverage Ratio
2.92 3.00 2.79 2.88 3.02 3.10 2.91 2.68 2.74 2.75 2.84
Compound Leverage Factor
2.73 2.27 2.58 2.59 3.06 2.56 2.62 2.77 2.53 2.23 2.58
Debt to Total Capital
38.48% 38.43% 40.08% 41.50% 40.36% 40.34% 38.99% 40.41% 41.60% 43.45% 45.78%
Short-Term Debt to Total Capital
13.83% 12.39% 14.43% 11.49% 6.28% 11.41% 13.13% 13.70% 17.94% 18.57% 15.04%
Long-Term Debt to Total Capital
24.65% 26.05% 25.66% 30.01% 34.08% 28.93% 25.86% 26.71% 23.66% 24.88% 30.75%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
5.38% 5.65% 5.42% 5.67% 6.11% 6.35% 5.33% 5.35% 6.75% 6.91% 6.94%
Common Equity to Total Capital
56.57% 55.92% 54.50% 52.83% 54.04% 53.31% 55.68% 54.25% 51.64% 49.64% 47.28%
Debt to EBITDA
1.40 1.11 1.91 1.97 1.88 2.63 1.50 1.67 1.72 2.07 2.65
Net Debt to EBITDA
0.62 0.46 0.86 0.92 0.55 0.85 0.53 0.76 0.77 0.93 1.09
Long-Term Debt to EBITDA
0.90 0.75 1.22 1.42 1.59 1.89 1.00 1.10 0.98 1.18 1.78
Debt to NOPAT
2.41 2.27 7.69 8.34 8.88 10.14 2.52 2.92 2.87 3.46 4.69
Net Debt to NOPAT
1.08 0.93 3.46 3.88 2.61 3.26 0.88 1.34 1.28 1.55 1.92
Long-Term Debt to NOPAT
1.54 1.54 4.92 6.03 7.50 7.27 1.67 1.93 1.63 1.98 3.15
Altman Z-Score
3.49 3.65 3.51 3.35 3.46 2.68 3.09 3.11 2.99 2.95 2.76
Noncontrolling Interest Sharing Ratio
8.66% 9.86% 8.89% 9.32% 10.52% 11.45% 10.57% 9.21% 10.79% 12.76% 11.56%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
1.34 1.31 1.32 1.34 1.34 1.18 1.43 1.40 1.29 1.27 1.37
Quick Ratio
0.68 0.66 0.66 0.70 0.73 0.65 0.76 0.74 0.69 0.68 0.74
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-2,337 -1,580 387 1,617 2,953 596 -612 -4,672 -4,437 -4,170 -4,129
Operating Cash Flow to CapEx
-1.85% 263.33% 247.10% -354.58% 163.31% 281.12% 546.07% 218.55% 256.48% 176.46% 189.11%
Free Cash Flow to Firm to Interest Expense
-30.35 -17.76 4.66 14.84 33.19 6.47 -6.31 -47.19 -51.00 -47.93 -67.69
Operating Cash Flow to Interest Expense
-0.04 15.98 7.71 -7.81 3.10 15.86 15.76 4.88 5.69 9.39 6.26
Operating Cash Flow Less CapEx to Interest Expense
-2.14 9.91 4.59 -10.01 1.20 10.22 12.88 2.65 3.47 4.07 2.95
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
1.05 1.07 1.07 1.08 1.08 1.09 1.08 1.15 1.09 1.04 0.99
Accounts Receivable Turnover
6.08 6.34 6.19 5.96 6.02 6.32 6.37 6.43 5.91 6.11 5.84
Inventory Turnover
4.26 4.49 4.28 4.35 4.43 4.58 4.41 4.55 4.38 4.29 4.04
Fixed Asset Turnover
5.46 5.41 5.71 5.80 5.86 5.79 6.05 6.37 6.05 5.65 5.57
Accounts Payable Turnover
5.76 6.25 6.09 5.94 5.65 6.07 6.11 6.37 5.64 5.87 5.53
Days Sales Outstanding (DSO)
60.04 57.60 58.96 61.25 60.61 57.78 57.35 56.80 61.77 59.75 62.46
Days Inventory Outstanding (DIO)
85.64 81.21 85.19 83.84 82.46 79.74 82.83 80.20 83.30 85.10 90.30
Days Payable Outstanding (DPO)
63.33 58.39 59.92 61.47 64.57 60.17 59.77 57.32 64.74 62.16 66.00
Cash Conversion Cycle (CCC)
82.34 80.42 84.24 83.62 78.50 77.35 80.40 79.67 80.33 82.70 86.76
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
15,311 14,214 14,755 14,068 12,111 12,059 14,293 14,881 14,334 13,748 12,934
Invested Capital Turnover
2.47 2.60 2.35 2.36 2.57 2.64 2.45 2.64 2.57 2.49 2.45
Increase / (Decrease) in Invested Capital
3,200 2,155 462 -813 -2,223 -1,689 1,359 5,343 5,241 4,913 4,550
Enterprise Value (EV)
47,479 51,765 48,815 42,395 44,809 36,388 35,172 38,325 37,536 37,225 32,094
Market Capitalization
43,092 47,822 44,375 37,878 41,765 33,179 31,537 33,781 32,825 32,452 27,540
Book Value per Share
$80.08 $74.87 $75.27 $69.83 $64.77 $62.44 $75.24 $73.02 $68.07 $63.64 $59.44
Tangible Book Value per Share
$45.18 $40.46 $39.70 $34.03 $30.37 $27.03 $40.67 $37.79 $32.66 $27.97 $25.17
Total Capital
19,459 18,367 18,928 18,079 16,936 16,600 19,142 19,056 18,633 18,080 17,725
Total Debt
7,488 7,059 7,587 7,503 6,835 6,696 7,464 7,700 7,752 7,855 8,115
Total Long-Term Debt
4,796 4,784 4,856 5,426 5,771 4,802 4,950 5,089 4,409 4,498 5,450
Net Debt
3,340 2,906 3,414 3,492 2,010 2,155 2,615 3,525 3,453 3,523 3,324
Capital Expenditures (CapEx)
162 540 259 240 169 519 280 221 193 463 202
Debt-free, Cash-free Net Working Capital (DFCFNWC)
4,499 3,529 4,193 3,712 1,947 1,448 4,236 4,662 4,349 3,814 3,568
Debt-free Net Working Capital (DFNWC)
6,657 5,793 6,444 5,895 4,998 4,189 7,300 6,976 6,788 6,387 6,533
Net Working Capital (NWC)
3,965 3,518 3,713 3,818 3,934 2,295 4,786 4,365 3,445 3,030 3,868
Net Nonoperating Expense (NNE)
13 130 5.66 52 -1,298 300 57 -66 -2.35 99 12
Net Nonoperating Obligations (NNO)
3,340 2,906 3,414 3,492 2,010 2,155 2,615 3,525 3,453 3,523 3,324
Total Depreciation and Amortization (D&A)
269 271 266 263 265 264 257 257 246 240 216
Debt-free, Cash-free Net Working Capital to Revenue
13.28% 10.35% 12.26% 10.86% 5.72% 4.25% 12.72% 14.48% 14.43% 13.59% 13.64%
Debt-free Net Working Capital to Revenue
19.65% 16.99% 18.84% 17.25% 14.69% 12.30% 21.93% 21.67% 22.52% 22.75% 24.98%
Net Working Capital to Revenue
11.71% 10.32% 10.86% 11.17% 11.57% 6.74% 14.38% 13.56% 11.43% 10.79% 14.79%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$5.99 $3.25 $5.90 $5.30 $14.10 ($10.10) $4.63 $5.08 $5.58 $4.46 $2.83
Adjusted Weighted Average Basic Shares Outstanding
137.60M 137.48M 137.20M 137.10M 141.30M 283.71M 141.80M 141.70M 141.50M 282.75M 141.10M
Adjusted Diluted Earnings per Share
$5.96 $3.22 $5.86 $5.26 $14.03 ($10.04) $4.59 $5.05 $5.55 $4.44 $2.82
Adjusted Weighted Average Diluted Shares Outstanding
138.30M 137.48M 138.10M 137.90M 142.10M 283.71M 142.80M 142.50M 142.40M 282.75M 142M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
137.75M 137.48M 137.18M 137.05M 136.78M 283.71M 141.74M 141.65M 141.56M 282.75M 141.02M
Normalized Net Operating Profit after Tax (NOPAT)
863 575 849 804 730 -1,093 747 671 804 743 421
Normalized NOPAT Margin
10.56% 6.80% 10.04% 9.14% 8.69% -12.80% 8.86% 7.77% 9.51% 9.57% 5.74%
Pre Tax Income Margin
13.67% 7.84% 12.33% 11.11% 26.43% -14.40% 10.41% 10.99% 12.17% 10.01% 8.29%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
15.51 9.82 13.57 9.96 24.57 -16.17 10.05 9.24 12.83 11.05 10.97
NOPAT to Interest Expense
11.21 6.46 10.22 7.38 8.21 -11.88 7.70 6.78 9.24 8.54 6.90
EBIT Less CapEx to Interest Expense
13.40 3.75 10.45 7.76 22.67 -21.82 7.16 7.01 10.61 5.72 7.66
NOPAT Less CapEx to Interest Expense
9.10 0.39 7.10 5.18 6.31 -17.53 4.81 4.55 7.02 3.22 3.59
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
33.94% 23.82% 42.91% 45.50% 45.49% 109.64% 31.46% 34.25% 33.90% 39.17% 41.93%
Augmented Payout Ratio
33.94% 25.05% 42.91% 45.50% 45.49% 130.48% 37.68% 34.25% 33.90% 56.30% 69.98%

Frequently Asked Questions About Cummins' Financials

When does Cummins's financial year end?

According to the most recent income statement we have on file, Cummins' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Cummins' net income changed over the last 9 years?

Cummins' net income appears to be on an upward trend, with a most recent value of $4.07 billion in 2024, rising from $1.47 billion in 2015. The previous period was $840 million in 2023. Check out Cummins' forecast to explore projected trends and price targets.

What is Cummins's operating income?
Cummins's total operating income in 2024 was $3.75 billion, based on the following breakdown:
  • Total Gross Profit: $8.44 billion
  • Total Operating Expenses: $5.08 billion
How has Cummins revenue changed over the last 9 years?

Over the last 9 years, Cummins' total revenue changed from $19.11 billion in 2015 to $34.10 billion in 2024, a change of 78.5%.

How much debt does Cummins have?

Cummins' total liabilities were at $20.23 billion at the end of 2024, a 8.5% decrease from 2023, and a 174.0% increase since 2015.

How much cash does Cummins have?

In the past 9 years, Cummins' cash and equivalents has ranged from $1.12 billion in 2016 to $3.40 billion in 2020, and is currently $1.67 billion as of their latest financial filing in 2024.

How has Cummins' book value per share changed over the last 9 years?

Over the last 9 years, Cummins' book value per share changed from 41.70 in 2015 to 74.87 in 2024, a change of 79.6%.



This page (NYSE:CMI) was last updated on 5/28/2025 by MarketBeat.com Staff
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