Cummins (CMI)

NYSE Industrials Construction Machinery & Heavy Transportation Equipment S&P 500

$450.07

+1.49 (+0.33%)

Close of Nov 06, 2026 · end-of-day data

Source: Cummins's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$17.51B	$20.43B	$23.77B	$23.57B	$19.81B	$24.02B	$28.07B	$34.06B	$34.10B	$33.67B
Cost of revenue	$13.05B	$15.33B	$18.03B	$17.59B	$14.92B	$18.33B	$21.36B	$25.82B	$25.66B	$25.15B
Gross profit	$4.46B	$5.10B	$5.74B	$5.98B	$4.89B	$5.70B	$6.72B	$8.25B	$8.44B	$8.52B
Research & development	$637.00M	$754.00M	$902.00M	$1.00B	$906.00M	$1.09B	$1.28B	$1.50B	$1.46B	$1.40B
Selling, general & admin	$2.10B	$2.43B	$2.44B	$2.45B	$2.12B	$2.37B	$2.69B	$3.33B	$3.27B	$3.12B
Operating income	$1.88B	$2.33B	$2.79B	$2.70B	$2.27B	$2.71B	$2.93B	$1.76B	$3.75B	$4.03B
Interest expense	$69.00M	$81.00M	$114.00M	$109.00M	$100.00M	$111.00M	$199.00M	$375.00M	$370.00M	$329.00M
Pre-tax income	$1.93B	$2.37B	$2.75B	$2.83B	$2.34B	$2.75B	$2.82B	$1.63B	$4.90B	$3.96B
Income tax	$474.00M	$1.37B	$566.00M	$566.00M	$527.00M	$587.00M	$636.00M	$786.00M	$835.00M	$1.01B
Net income	$1.39B	$999.00M	$2.14B	$2.26B	$1.79B	$2.13B	$2.15B	$735.00M	$3.95B	$2.84B
EBITDA	$2.41B	$2.92B	$3.40B	$3.37B	$2.94B	$3.37B	$3.71B	$2.79B	$4.82B	$5.13B
EPS (basic)	$8.25	$5.99	$13.20	$14.54	$12.07	$14.74	$15.20	$5.19	$28.55	$20.62
EPS (diluted)	$8.23	$5.97	$13.15	$14.48	$12.01	$14.61	$15.12	$5.15	$28.37	$20.50
Diluted shares	169.34M	167.30M	162.80M	156.10M	149.00M	145.90M	142.30M	142.70M	139.10M	138.70M
Gross margin	25.5%	25.0%	24.1%	25.4%	24.7%	23.7%	23.9%	24.2%	24.7%	25.3%
Operating margin	10.7%	11.4%	11.7%	11.5%	11.5%	11.3%	10.4%	5.2%	11.0%	12.0%
Net margin	8.0%	4.9%	9.0%	9.6%	9.0%	8.9%	7.7%	2.2%	11.6%	8.4%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$1.12B	$1.37B	$1.30B	$1.13B	$3.40B	$2.59B	$2.02B	$2.18B	$1.67B	$2.85B
Short-term investments	—	—	—	—	$461.00M	$595.00M	$472.00M	$562.00M	$593.00M	$764.00M
Inventory	$2.67B	$3.17B	$3.76B	$3.49B	$3.42B	$4.36B	$5.60B	$5.68B	$5.74B	$5.82B
Total current assets	$7.71B	$8.93B	$9.82B	$9.39B	$11.90B	$12.31B	$14.45B	$15.20B	$14.75B	$16.93B
Goodwill	$480.00M	$1.08B	$1.13B	$1.29B	$1.29B	$1.29B	$2.34B	$2.50B	$2.37B	$2.22B
Total assets	$15.01B	$18.07B	$19.06B	$19.74B	$22.62B	$23.71B	$30.30B	$32.01B	$31.54B	$33.99B
Total current liabilities	$4.33B	$5.68B	$6.38B	$6.26B	$6.33B	$7.08B	$11.42B	$12.90B	$11.23B	$9.61B
Short-term debt	$35.00M	$63.00M	$45.00M	$31.00M	$62.00M	$59.00M	$573.00M	$118.00M	$660.00M	$94.00M
Long-term debt	$1.57B	$1.59B	$1.60B	$1.58B	$3.61B	$3.58B	$4.50B	$4.80B	$4.78B	$6.79B
Total debt	$1.60B	$1.65B	$1.64B	$1.61B	$3.67B	$3.64B	$5.07B	$4.92B	$5.44B	$6.89B
Total liabilities	$7.84B	$9.91B	$10.80B	$11.27B	$13.63B	$14.31B	$20.07B	$22.10B	$20.23B	$20.58B
Shareholders' equity	$6.88B	$7.26B	$7.35B	$7.51B	$8.06B	$8.15B	$8.97B	$8.85B	$10.27B	$12.35B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$1.94B	$2.28B	$2.38B	$3.18B	$2.72B	$2.26B	$1.96B	$3.97B	$1.49B	$3.62B
Capital expenditures	$531.00M	$506.00M	$709.00M	$700.00M	$528.00M	$734.00M	$916.00M	$1.21B	$1.21B	$1.24B
Free cash flow	$1.41B	$1.77B	$1.67B	$2.48B	$2.19B	$1.52B	$1.05B	$2.75B	$279.00M	$2.39B
Investing cash flow	-$917.00M	-$1.05B	-$974.00M	-$1.15B	-$719.00M	-$873.00M	-$4.17B	-$1.64B	-$1.78B	-$1.73B
Financing cash flow	-$1.41B	-$1.07B	-$1.40B	-$2.10B	$280.00M	-$2.23B	$1.67B	-$2.18B	-$173.00M	-$772.00M
Dividends paid	$676.00M	$701.00M	$718.00M	$761.00M	$782.00M	$809.00M	$855.00M	$921.00M	$969.00M	$1.05B
Share buybacks	$778.00M	$451.00M	$1.14B	$1.27B	$641.00M	$1.40B	$374.00M	$0	$0	—
Stock-based compensation	$32.00M	$41.00M	$53.00M	$49.00M	$31.00M	$37.00M	$33.00M	$79.00M	$100.00M	$93.00M
Depreciation & amortization	$530.00M	$583.00M	$611.00M	$672.00M	$673.00M	$662.00M	$784.00M	$1.02B	$1.06B	$1.10B

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$8.54B	$8.40B	$8.80B	$8.46B	$8.45B	$8.17B	$8.64B	$8.32B	$8.54B	$8.40B	$9.46B	$9.44B
Cost of revenue	$6.54B	$6.36B	$6.60B	$6.29B	$6.41B	$6.02B	$6.36B	$6.19B	$6.58B	$6.16B	$6.99B	$6.82B
Gross profit	$2.00B	$2.04B	$2.19B	$2.17B	$2.03B	$2.15B	$2.28B	$2.13B	$1.95B	$2.24B	$2.46B	$2.62B
Research & development	$390.00M	$369.00M	$379.00M	$359.00M	$356.00M	$344.00M	$357.00M	$345.00M	$350.00M	$358.00M	$385.00M	$400.00M
Selling, general & admin	$876.00M	$839.00M	$828.00M	$807.00M	$801.00M	$771.00M	$779.00M	$789.00M	$786.00M	$845.00M	$893.00M	$868.00M
Operating income	-$1.21B	$923.00M	$1.04B	$1.05B	$732.00M	$1.13B	$1.23B	$852.00M	$813.00M	$949.00M	$1.28B	$1.44B
Interest expense	$92.00M	$89.00M	$109.00M	$83.00M	$89.00M	$77.00M	$87.00M	$83.00M	$82.00M	$76.00M	$80.00M	$81.00M
Pre-tax income	-$1.23B	$2.22B	$977.00M	$1.04B	$662.00M	$1.12B	$1.23B	$830.00M	$791.00M	$934.00M	$1.29B	$1.42B
Income tax	$163.00M	$193.00M	$225.00M	$200.00M	$217.00M	$267.00M	$297.00M	$271.00M	$171.00M	$254.00M	$325.00M	$251.00M
Net income	-$1.43B	$1.99B	$726.00M	$809.00M	$418.00M	$824.00M	$890.00M	$536.00M	$593.00M	$654.00M	$932.00M	$1.14B
EBITDA	-$948.00M	$1.19B	$1.31B	$1.32B	$1.00B	$1.40B	$1.50B	$1.13B	$1.09B	$1.23B	$1.56B	$1.73B
EPS (basic)	$-10.10	$14.10	$5.30	$5.90	$3.08	$5.99	$6.46	$3.88	$4.29	$4.73	$6.76	$8.29
EPS (diluted)	$-10.04	$14.03	$5.26	$5.86	$3.06	$5.96	$6.43	$3.86	$4.27	$4.71	$6.73	$8.25
Diluted shares	100.00K	142.10M	137.90M	138.10M	-300.00K	138.30M	138.50M	138.80M	100.00K	138.80M	138.50M	138.10M
Gross margin	23.4%	24.3%	24.9%	25.7%	24.1%	26.4%	26.4%	25.6%	22.9%	26.7%	26.1%	27.7%
Operating margin	-14.2%	11.0%	11.9%	12.4%	8.7%	13.9%	14.2%	10.2%	9.5%	11.3%	13.5%	15.3%
Net margin	-16.8%	23.7%	8.3%	9.6%	4.9%	10.1%	10.3%	6.4%	6.9%	7.8%	9.9%	12.1%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$2.18B	$2.54B	$1.59B	$1.73B	$1.67B	$1.53B	$2.32B	$2.57B	$2.85B	$2.61B	$3.18B	$3.57B
Short-term investments	$562.00M	$510.00M	$593.00M	$518.00M	$593.00M	$626.00M	$755.00M	$593.00M	$764.00M	$568.00M	$745.00M	$614.00M
Inventory	$5.68B	$5.76B	$5.86B	$6.13B	$5.74B	$6.12B	$6.29B	$6.26B	$5.82B	$6.13B	$6.40B	$6.81B
Total current assets	$15.20B	$15.62B	$14.96B	$15.32B	$14.75B	$15.54B	$16.93B	$16.72B	$16.93B	$17.38B	$18.43B	$19.38B
Goodwill	$2.50B	$2.41B	$2.39B	$2.41B	$2.37B	$2.40B	$2.43B	$2.22B	$2.22B	$2.22B	$2.22B	$2.22B
Total assets	$32.01B	$31.83B	$31.32B	$32.05B	$31.54B	$32.53B	$34.26B	$33.64B	$33.99B	$34.45B	$35.63B	$36.59B
Total current liabilities	$12.90B	$11.69B	$11.14B	$11.60B	$11.23B	$11.57B	$10.31B	$9.45B	$9.61B	$10.17B	$10.67B	$11.13B
Short-term debt	$118.00M	$113.00M	$167.00M	$654.00M	$660.00M	$661.00M	$615.00M	$122.00M	$94.00M	$157.00M	$151.00M	$154.00M
Long-term debt	$4.80B	$5.77B	$5.43B	$4.86B	$4.78B	$4.80B	$6.81B	$6.82B	$6.79B	$6.73B	$6.74B	$6.63B
Total debt	$4.92B	$5.88B	$5.59B	$5.51B	$5.44B	$5.46B	$7.42B	$6.95B	$6.89B	$6.89B	$6.89B	$6.79B
Total liabilities	$22.10B	$21.73B	$20.74B	$20.71B	$20.23B	$20.56B	$21.39B	$20.54B	$20.58B	$21.07B	$21.72B	$22.24B
Shareholders' equity	$8.85B	$9.07B	$9.55B	$10.31B	$10.27B	$10.92B	$11.79B	$12.06B	$12.35B	$12.35B	$12.85B	$13.33B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$1.46B	$276.00M	-$851.00M	$640.00M	$1.42B	-$3.00M	$785.00M	$1.30B	$1.53B	$309.00M	$1.50B	$1.41B
Capital expenditures	$519.00M	$169.00M	$240.00M	$259.00M	$540.00M	$162.00M	$231.00M	$298.00M	$544.00M	$189.00M	$249.00M	$303.00M
Free cash flow	$940.00M	$107.00M	-$1.09B	$381.00M	$882.00M	-$165.00M	$554.00M	$1.01B	$990.00M	$120.00M	$1.25B	$1.10B
Investing cash flow	-$783.00M	-$406.00M	-$400.00M	-$263.00M	-$713.00M	-$246.00M	-$369.00M	-$231.00M	-$885.00M	-$10.00M	-$419.00M	-$234.00M
Financing cash flow	-$1.11B	$499.00M	$308.00M	-$243.00M	-$737.00M	$92.00M	$332.00M	-$827.00M	-$369.00M	-$517.00M	-$524.00M	-$792.00M
Dividends paid	$238.00M	$239.00M	$230.00M	$250.00M	$250.00M	$251.00M	$251.00M	$276.00M	$277.00M	$276.00M	$276.00M	$302.00M
Share buybacks	$0	—	—	—	—	$0	$0	$0	—	$243.00M	$225.00M	$359.00M
Depreciation & amortization	$264.00M	$265.00M	$263.00M	$266.00M	$271.00M	$269.00M	$279.00M	$277.00M	$280.00M	$282.00M	$281.00M	$288.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.