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NYSE · Industrials

CUMMINS INC (CMI)

As-reported financials and SEC filings for CUMMINS INC. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About CUMMINS INC

Cummins Inc manufactures and markets a wide range of diesel, natural gas, and gasoline-powered engines for heavy-duty trucks, medium-duty trucks and buses, light-duty automotive vehicles, and off-highway industrial applications. The company also designs and supplies components such as drivetrain and braking systems, aftertreatment systems, turbochargers, fuel systems, and automated transmissions. Cummins serves original equipment manufacturers, distributors, dealers, and other customers worldwide through an extensive service network.

Snapshot

Revenue
$33.67B
Revenue growth (YoY)
-1.3%
Net income
$2.96B
Diluted EPS
$20.50
Gross margin
25.3%
Operating margin
12.0%
Net margin
8.8%
FCF margin
7.1%
ROE
22.1%
net income / fiscal-year-end equity
P/E
28.3×
trailing when available, otherwise FY EPS
Market cap
$75.72B
Long-term debt / equity
0.51×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Cummins

  • Revenue fell 1.3% to $33.7B in FY2025, in line with the 0.1% the year before.
  • Operating margin is 12.0% in FY2025, +0.7 pp against 11.3% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $9.5B, up 9.4% from Q2 FY2025.
  • Free cash flow was $2.4B in FY2025, 7.1% of revenue.
  • Net income fell 27.3% to $3.0B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Cummins’s fundamentals sit among the 684 Industrials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin25.3%
44th percentile of 466
Operating margin12.0%
71st percentile of 605
Net margin8.8%
72nd percentile of 645
FCF margin7.1%
60th percentile of 562
Revenue growth (YoY)-1.3%
31st percentile of 668
ROE22.1%
85th percentile of 600
P/E28.3×
61st percentile of 434
Long-term debt / equity0.51×
51st percentile of 408
Short interest3.57d
45th percentile of 676

Cummins’s return on equity of 22.1% ranks in the 85th percentile of the 600 Industrials companies reporting it.

No reported insider purchases (code P) in the last 90 days; 1 insider sale totaling $399,410. For context, about 14% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 5 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
3
+5 quant / multi-strat
Initiated / added
2
0 new, 2 added
Reduced / exited
8
6 trimmed, 2 exited
Combined position
$1.91B
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$884.8M1.3MAdded
First Eagle Investment ManagementQ2 2026$382.9M536.9KReduced
D. E. ShawquantQ2 2026$229.3M321.5KReduced
Millennium ManagementquantQ2 2026$197.6M277.0KReduced
Citadel AdvisorsquantQ2 2026$106.8M149.7KReduced
Gotham Asset ManagementQ2 2026$60.3M84.5KAdded
Two Sigma InvestmentsquantQ2 2026$36.9M51.8KReduced
Bridgewater AssociatesQ2 2026$15.2M21.3KReduced

No longer held by: Point72 Asset Management (as of Q2 2026), Renaissance Technologies (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
1
$399K
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-24
filed 2026-08-25
Newsome EarlVP - Chief Information OfficerSell698$572.22$399K
2026-05-14
JACKSON DONALD GVP - Treasury & TaxSell480$710.36$341K
2026-05-14
JACKSON DONALD GVP - Treasury & TaxSell160$711.61$114K
2026-05-14
JACKSON DONALD GVP - Treasury & TaxSell90$712.70$64K
2026-05-12
filed 2026-05-13
Bush Jennifer MaryVP & Pres. - Power SystemsSell1.8K$697.29$1.3M
2026-05-12
filed 2026-05-13
Bush Jennifer MaryVP & Pres. - Power SystemsSell1.2K$695.21$805K
2026-05-12
filed 2026-05-13
Bush Jennifer MaryVP & Pres. - Power SystemsSell940$694.13$652K
2026-05-12
filed 2026-05-13
Bush Jennifer MaryVP & Pres. - Power SystemsSell583$696.26$406K
2026-05-12
filed 2026-05-13
Bush Jennifer MaryVP & Pres. - Power SystemsSell480$698.38$335K
2026-05-12
filed 2026-05-13
Bush Jennifer MaryVP & Pres. - Power SystemsSell40$699.10$28K
2026-05-11
filed 2026-05-12
Merritt Brett MichaelV.P & Pres. - Engine BusinessSell701$688.75$483K
2026-05-11
Fetch Bonnie JEVP & President - OperationsSell652$700.19$457K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
3.2M
settled 2026-08-31
Change vs prior
+45.6%
vs previous settlement
Days to cover
3.57
at avg daily volume
Avg daily volume
901.5K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-313.2M+45.6%3.57
2026-08-142.2M-13.5%2.17
2026-07-312.6M+8.7%2.67
2026-07-152.4M-4.3%2.91
2026-06-302.5M-4.2%1.66
2026-06-152.6M+25.0%2.75
2026-05-292.1M+18.6%1.99
2026-05-151.7M-7.6%1.70

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$33.67B$34.10B$34.06B$28.07B$24.02B
Gross profit$8.52B$8.44B$8.25B$6.72B$5.70B
Operating income$4.03B$3.75B$1.76B$2.93B$2.71B
Net income$2.96B$4.07B$840.0M$2.18B$2.16B
Diluted EPS$20.50$28.37$5.15$15.12$14.61

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$3.62B$1.49B$3.97B$1.96B$2.26B
Capital expenditure$1.24B$1.21B$1.21B$916.0M$734.0M
Free cash flow$2.39B$279.0M$2.75B$1.05B$1.52B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$9.46B9.4%$968.0M$6.73
Q1 FY2026$8.40B2.7%$680.0M$4.71
Q4 FY2025$8.54B1.1%$620.0M$4.46
Q3 FY2025$8.32B-1.6%$559.0M$3.86
Q2 FY2025$8.64B-1.7%$928.0M$6.43
Q1 FY2025$8.17B-2.7%$850.0M$5.96
Q4 FY2024$8.45B-1.1%$445.0M$3.22
Q3 FY2024$8.46B0.3%$843.0M$5.86

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorIndustrials
SIC industryEngines & Turbines
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2017
SEC CIK26172

Selected SEC filings

10-K2026-02-10
View on EDGAR →
10-K2025-02-11
View on EDGAR →
10-Q2026-08-04
View on EDGAR →
10-Q2026-05-05
View on EDGAR →
10-Q2025-11-06
View on EDGAR →
10-Q2025-08-05
View on EDGAR →
8-K2026-08-04
View on EDGAR →
8-K2026-05-14
View on EDGAR →

Largest Industrials peers

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.