CMI · NYSE · Industrials
Cummins Inc. (CMI) — Rank #285 by gross profitability (GP/assets 0.24) · ROE 22.1% · Piotroski F-Score N/A.
As-of 2026-10-30 · CIK 0000026172 · all metrics point-in-time as of the filing date.
About
Cummins Inc. offers various power solutions worldwide.
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The company operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. It offers diesel and natural gas-powered engines; and drivetrain systems, including axles, drivelines, brakes, and suspension systems; and on- and off-highway, and other products. The company also provides aftertreatment technology and solutions comprising custom engineering systems and integrated controls, oxidation catalysts, particulate filters, and selective catalytic reduction systems, as well as engineered components, including dosers; turbochargers, fuel systems, and valvetrain technologies; electronic control modules, sensors, and supporting software; and automated manual transmissions, and automatic transmissions for internal combustion engines. In addition, it sells and offers support services power generation systems, high-horsepower engines, and heavy-duty and medium-duty engines; offers application engineering services, custom-designed assemblies, and in-shop and field-based repair services; and retail and wholesale aftermarket parts. Further, the company offers standby and prime power generators, controls, paralleling systems, and transfer switches; turnkey solutions for distributed generation and energy management applications using natural gas, diesel, battery energy storage systems, and newer alternative sustainable fuels; diesel and natural gas high-speed, high-horsepower engines; and A/C generator/alternator products. Additionally, it provides electrified power systems, including batteries, fuel cells, and electric powertrain technologies. It sells its products to original equipment manufacturers, distributors, dealers, and other customers. The company was formerly known as Cummins Engine Company and changed its name to Cummins Inc. in 2001. Cummins Inc.
was founded in 1919 and is headquartered in Columbus, Indiana.
- Industry
- Specialty Industrial Machinery
- Sector
- Industrials
- State
- IN
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- cummins.com
Company Snapshot
P/E and dividend yield are the primary valuation lenses for mature businesses.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
67,400
Industry
Specialty Industrial Machinery
Exchange
NYSE
11/12
Flags passed
CMI fails 1 critical flag
Passes 11 of 12 quality flags
- FAILRevenue declining YoY
Revenue contracted year over year
- PASSGross margin holding
- PASSDilution within 2%
- PASSFCF not negative from investment
- PASSDisclosure consistent
- PASSOperating margin holding
- PASSFree cash flow intact
- PASSPasses safety gate
- PASSBalance sheet stable
- PASSNo competitive retreat
- PASSSBC not compressing margin
- PASSNo valuation convergence
Strengths Operating leverage expanding · RPO outpacing revenue · Sequential beat (rev + EPS)
A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
2/3 passGrowth
1/2 passDividend yield and payout ratio are the primary reads at this stage (trailing P/E — see valuation above).
Profitability
Does it make money well?
Warning: Revenue declining YoY · GP/assets 44th percentile of 26 SIC 35 peers
Gross profitability (GP / assets)
0.24
Primary signal (Novy-Marx).
44th pctl of 26 SIC 35 peers
Return on equity
22.1%
Gross margin
25.3%
0th pctl of 26 SIC 35 peers
Revenue growth (YoY)
-1.3%
RPO growth (YoY)
16.7%
Remaining performance obligations growth — RPO > revenue = forward demand building.
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
6.2%
Revenue CAGR (5Y)
11.2%
Earnings CAGR (3Y)
9.7%
FCF CAGR (3Y)
31.6%
Cash Flow Health
Is the cash real?
No warning flags · FCF 16% below net income
Free cash flow
$2.39B
Operating cash flow minus capex.
Positive free cash flow
FCF vs net income
-16.1%
(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.
FCF not below net income
Fails when free cash flow is below net income (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.3%
Stock-based comp intensity.
Balance Sheet Strength
Can it survive a storm?
No warning flags · net cash $3.77B
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.56
12th pctl of 26 SIC 35 peers (best = lowest)
Current ratio
1.73×
36th pctl of 26 SIC 35 peers
Quick ratio
0.98×
Net cash
$3.77B
Cash & equivalents minus total debt.
Piotroski F-Score
N/A
Only 8/9 components determinable.
Valuation
Is the price reasonable?
No warning flags
Dividend safety
Composite score
4.2 / 5
Capital allocation quality
Composite score
4.0 / 5
Lifecycle Phase History
Price History
Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports