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Stocks · Industrials · Engines & Turbines

Cummins

CMI Clue Score59
United States Fiscal year ends December CIK 0000026172
$523.39 +0.57% Close, 9 Oct 2026
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Price $523.39 +125.17% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue17.51Operating income1.88Net income1.46EPS, diluted8.23Fiscal year 2017Revenue20.43 +16.7%Operating income2.33Net income0.99 −31.7%EPS, diluted5.97 −27.5%Fiscal year 2018Revenue23.77 +16.4%Operating income2.79Net income2.19 +120.0%EPS, diluted13.15 +120.3%Fiscal year 2019Revenue23.57 −0.8%Operating income2.70Net income2.27 +3.7%EPS, diluted14.48 +10.1%Fiscal year 2020Revenue19.81 −16.0%Operating income2.27Net income1.81 −20.1%EPS, diluted12.01 −17.1%Fiscal year 2021Revenue24.02 +21.3%Operating income2.71Net income2.16 +19.5%EPS, diluted14.61 +21.6%Fiscal year 2022Revenue28.07 +16.9%Operating income2.93Net income2.18 +0.9%EPS, diluted15.12 +3.5%Fiscal year 2023Revenue34.07 +21.3%Operating income1.76Net income0.84 −61.5%EPS, diluted5.15 −65.9%Fiscal year 2024Revenue34.10 +0.1%Operating income3.75Net income4.07 +384.3%EPS, diluted28.37 +450.9%Fiscal year 2025Revenue33.67 −1.3%Operating income4.03Net income2.96 −27.3%EPS, diluted20.50 −27.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 17.51 20.43 23.77 23.57 19.81 24.02 28.07 34.07 34.10 33.67
Growth +16.7% +16.4% −0.8% −16.0% +21.3% +16.9% +21.3% +0.1% −1.3%
Operating income 1.88 2.33 2.79 2.70 2.27 2.71 2.93 1.76 3.75 4.03
Net income 1.46 0.99 2.19 2.27 1.81 2.16 2.18 0.84 4.07 2.96
Growth −31.7% +120.0% +3.7% −20.1% +19.5% +0.9% −61.5% +384.3% −27.3%
EPS, diluted 8.23 5.97 13.15 14.48 12.01 14.61 15.12 5.15 28.37 20.50
Growth −27.5% +120.3% +10.1% −17.1% +21.6% +3.5% −65.9% +450.9% −27.7%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin25.5%Operating margin10.7%Net margin8.3%Free cash flow margin8.0%Fiscal year 2017Gross margin25.0%Operating margin11.4%Net margin4.9%Free cash flow margin8.7%Fiscal year 2018Gross margin24.1%Operating margin11.7%Net margin9.2%Free cash flow margin7.0%Fiscal year 2019Gross margin25.4%Operating margin11.5%Net margin9.6%Free cash flow margin10.5%Fiscal year 2020Gross margin24.7%Operating margin11.5%Net margin9.1%Free cash flow margin11.1%Fiscal year 2021Gross margin23.7%Operating margin11.3%Net margin9.0%Free cash flow margin6.3%Fiscal year 2022Gross margin23.9%Operating margin10.4%Net margin7.8%Free cash flow margin3.7%Fiscal year 2023Gross margin24.2%Operating margin5.2%Net margin2.5%Free cash flow margin8.1%Fiscal year 2024Gross margin24.7%Operating margin11.0%Net margin11.9%Free cash flow margin0.8%Fiscal year 2025Gross margin25.3%Operating margin12.0%Net margin8.8%Free cash flow margin7.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
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 8.3% 4.9% 9.2% 9.6% 9.1% 9.0% 7.8% 2.5% 11.9% 8.8%
Free cash flow margin 8.0% 8.7% 7.0% 10.5% 11.1% 6.3% 3.7% 8.1% 0.8% 7.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow1.94Capital expenditure−0.53Free cash flow1.41Buybacks−0.78Dividends paid−0.68Fiscal year 2017Operating cash flow2.28Capital expenditure−0.51Free cash flow1.77 +25.8%Buybacks−0.45Dividends paid−0.70Fiscal year 2018Operating cash flow2.38Capital expenditure−0.71Free cash flow1.67 −5.8%Buybacks−1.14Dividends paid−0.72Fiscal year 2019Operating cash flow3.18Capital expenditure−0.70Free cash flow2.48 +48.7%Buybacks−1.27Dividends paid−0.76Fiscal year 2020Operating cash flow2.72Capital expenditure−0.53Free cash flow2.19 −11.6%Buybacks−0.64Dividends paid−0.78Fiscal year 2021Operating cash flow2.26Capital expenditure−0.73Free cash flow1.52 −30.6%Buybacks−1.40Dividends paid−0.81Fiscal year 2022Operating cash flow1.96Capital expenditure−0.92Free cash flow1.05 −31.3%Buybacks−0.37Dividends paid−0.86Fiscal year 2023Operating cash flow3.97Capital expenditure−1.21Free cash flow2.75 +163.2%Buybacks0.00Dividends paid−0.92Fiscal year 2024Operating cash flow1.49Capital expenditure−1.21Free cash flow0.28 −89.9%Buybacks0.00Dividends paid−0.97Fiscal year 2025Operating cash flow3.62Capital expenditure−1.24Free cash flow2.39 +755.2%Dividends paid−1.06
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.94 2.28 2.38 3.18 2.72 2.26 1.96 3.97 1.49 3.62
Capital expenditure −0.53 −0.51 −0.71 −0.70 −0.53 −0.73 −0.92 −1.21 −1.21 −1.24
Free cash flow 1.41 1.77 1.67 2.48 2.19 1.52 1.05 2.75 0.28 2.39
Growth +25.8% −5.8% +48.7% −11.6% −30.6% −31.3% +163.2% −89.9% +755.2%
Buybacks −0.78 −0.45 −1.14 −1.27 −0.64 −1.40 −0.37 0.00 0.00 n/a
Dividends paid −0.68 −0.70 −0.72 −0.76 −0.78 −0.81 −0.86 −0.92 −0.97 −1.06

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash1.12Total debt0.04Net cash (debt)1.09Shareholders’ equity6.88Debt to equity0.01Fiscal year 2017Cash1.37Total debt0.06Net cash (debt)1.31Shareholders’ equity7.26Debt to equity0.01Fiscal year 2018Cash1.30Total debt0.05Net cash (debt)1.26Shareholders’ equity7.35Debt to equity0.01Fiscal year 2019Cash1.13Total debt0.03Net cash (debt)1.10Shareholders’ equity7.51Debt to equity0.00Fiscal year 2020Cash3.40Total debt0.06Net cash (debt)3.34Shareholders’ equity8.06Debt to equity0.01Fiscal year 2021Cash2.59Total debt0.06Net cash (debt)2.53Shareholders’ equity8.15Debt to equity0.01Fiscal year 2022Cash2.10Total debt0.57Net cash (debt)1.53Shareholders’ equity8.98Debt to equity0.06Fiscal year 2023Cash2.18Total debt0.12Net cash (debt)2.06Shareholders’ equity8.85Debt to equity0.01Fiscal year 2024Cash1.67Total debt0.66Net cash (debt)1.01Shareholders’ equity10.27Debt to equity0.06Fiscal year 2025Cash2.85Total debt0.09Net cash (debt)2.75Shareholders’ equity12.35Debt to equity0.01
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 1.12 1.37 1.30 1.13 3.40 2.59 2.10 2.18 1.67 2.85
Total debt 0.04 0.06 0.05 0.03 0.06 0.06 0.57 0.12 0.66 0.09
Net cash (debt) 1.09 1.31 1.26 1.10 3.34 2.53 1.53 2.06 1.01 2.75
Shareholders’ equity 6.88 7.26 7.35 7.51 8.06 8.15 8.98 8.85 10.27 12.35
Debt to equity 0.01 0.01 0.01 0.00 0.01 0.01 0.06 0.01 0.06 0.01

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
25.5% 25.0% 24.1% 25.4% 24.7% 23.7% 23.9% 24.2% 24.7% 25.3%
10.7% 11.4% 11.7% 11.5% 11.5% 11.3% 10.4% 5.2% 11.0% 12.0%
11.0% 11.6% 11.6% 12.0% 11.8% 11.5% 10.0% 4.8% 14.4% 11.8%
8.3% 4.9% 9.2% 9.6% 9.1% 9.0% 7.8% 2.5% 11.9% 8.8%
8.0% 8.7% 7.0% 10.5% 11.1% 6.3% 3.7% 8.1% 0.8% 7.1%
Spending
3.6% 3.7% 3.8% 4.2% 4.6% 4.5% 4.6% 4.4% 4.3% 4.1%
12.0% 11.9% 10.3% 10.4% 10.7% 9.9% 9.6% 9.8% 9.6% 9.3%
3.0% 2.5% 3.0% 3.0% 2.7% 3.1% 3.3% 3.6% 3.5% 3.7%
24.6% 58.0% 20.6% 20.0% 22.5% 21.3% 22.6% 48.3% 17.0% 25.4%
Returns
21.2% 13.7% 29.8% 30.2% 22.5% 26.6% 24.3% 9.5% 39.6% 23.9%
9.7% 5.5% 11.5% 11.5% 8.0% 9.1% 7.2% 2.6% 12.9% 8.7%
Balance and payout
0.01 0.01 0.01 0.00 0.01 0.01 0.06 0.01 0.06 0.01
52.2% 54.8% 56.7% 57.1% 60.3% 60.4% 66.3% 69.1% 64.1% 60.6%
46.4% 70.5% 32.8% 33.6% 43.2% 37.4% 39.2% 109.6% 23.8% 35.7%
103.3% 65.0% 111.3% 81.9% 64.9% 145.3% 117.5% 33.5% 347.3% 44.2%