Cummins Inc (CMI)

Official site

INDUSTRIALS • SPECIALTY INDUSTRIAL MACHINERY • NYSE

$532.63

+6.67 (+1.27%)

Market Cap: $73.34B

Last updated: Oct 16, 2026 at 5:00 PM ET

Earnings

Performance (10Y)

Beat Rate

62%(24/39)

Avg Surprise

+4.12%

Upcoming Estimates

Period ending Sep 30, 2026

EPS Consensus$8.41

Range$8.02 - $8.94

9 analysts

EPS Revisions

30d

EPS Estimate DriftChange to current

90d ago$7.75+8.4%

60d ago$8.43-0.3%

30d ago$8.40+0.1%

7d ago$8.41-0.0%

Current$8.41

Revenue Consensus

$9.9B

Range$9.4B - $10.3B

14 analysts

Period ending Dec 31, 2026

EPS Consensus$7.46

Range$4.84 - $9.40

13 analysts

Revenue Consensus

$10.1B

Range$8.5B - $11.2B

18 analysts

Period	Reported	Est.	Range	Surprise	B/M	Analysts	Revisions	YoY
Dec 31, 2026Dec 26EST	-	$7.46	$4.84 - $9.40	-	-	13	-	-
Sep 30, 2026Sep 26EST	-	$8.41	$8.02 - $8.94	-	-	9	1 0 30d	-
Jun 30, 2026Jun 26 Reported Aug 4, 2026Reported Aug 4	$6.94	$7.33	$6.92 - $7.46	-5.32%	Miss	8	1 2 30d	+7.9%
Mar 31, 2026Mar 26 Reported May 5, 2026Reported May 5	$6.15	$5.65	$4.95 - $6.07	+8.85%	Beat	9	1 2 30d	+3.2%
Dec 31, 2025Dec 25 Reported Feb 5, 2026Reported Feb 5	$5.81	$5.08	$4.80 - $5.31	+14.37%	Beat	11	2 1 30d	+28.0%
Sep 30, 2025Sep 25 Reported Nov 6, 2025Reported Nov 6	$3.86	$4.77	$4.19 - $5.34	-19.08%	Miss	14	1 3 30d	-34.1%
Jun 30, 2025Jun 25 Reported Aug 5, 2025Reported Aug 5	$6.43	$5.21	$4.34 - $6.40	+23.42%	Beat	18	4 4 30d	+22.2%
Mar 31, 2025Mar 25 Reported May 5, 2025Reported May 5	$5.96	$4.92	$4.30 - $5.36	+21.14%	Beat	17	2 7 30d	+16.9%
Dec 31, 2024Dec 24 Reported Feb 4, 2025Reported Feb 4	$4.54	$4.69	$3.88 - $4.94	-3.20%	Miss	15	1 4 30d	+9.7%
Sep 30, 2024Sep 24 Reported Nov 5, 2024Reported Nov 5	$5.86	$4.81	$4.32 - $5.11	+21.83%	Beat	16	5 0 30d	+23.6%
Jun 30, 2024Jun 24 Reported Aug 1, 2024Reported Aug 1	$5.26	$4.76	$4.32 - $5.05	+10.50%	Beat	16	2 0 30d	+1.5%
Mar 31, 2024Mar 24 Reported May 2, 2024Reported May 2	$5.10	$4.96	$4.28 - $6.00	+2.82%	Beat	16	4 1 30d	-9.7%
Dec 31, 2023Dec 23 Reported Feb 6, 2024Reported Feb 6	$4.14	$4.47	$4.11 - $4.96	-7.38%	Miss	16	3 1 30d	-8.2%
Sep 30, 2023Sep 23 Reported Nov 2, 2023Reported Nov 2	$4.74	$4.68	$4.38 - $5.05	+1.28%	Beat	16	3 0 30d	+37.8%
Jun 30, 2023Jun 23 Reported Aug 3, 2023Reported Aug 3	$5.18	$5.22	$4.86 - $5.63	-0.77%	Miss	15	5 0 30d	+8.6%
Mar 31, 2023Mar 23 Reported May 2, 2023Reported May 2	$5.65	$4.71	$4.32 - $5.40	+19.96%	Beat	18	7 0 30d	+39.9%
Dec 31, 2022Dec 22 Reported Feb 6, 2023Reported Feb 6	$4.51	$4.52	$4.13 - $5.54	-0.22%	Miss	17	2 1 30d	+65.2%
Sep 30, 2022Sep 22 Reported Nov 3, 2022Reported Nov 3	$3.44	$4.82	$4.62 - $5.06	-28.63%	Miss	19	6 0 30d	-6.8%
Jun 30, 2022Jun 22 Reported Aug 2, 2022Reported Aug 2	$4.77	$4.34	$4.01 - $4.56	+9.91%	Beat	19	5 0 30d	+16.3%
Mar 31, 2022Mar 22 Reported May 3, 2022Reported May 3	$4.04	$3.55	$3.09 - $3.84	+13.80%	Beat	17	1 0 30d	-0.7%
Dec 31, 2021Dec 21 Reported Feb 3, 2022Reported Feb 3	$2.73	$3.14	$2.87 - $3.51	-13.06%	Miss	19	2 0 30d	-18.7%
Sep 30, 2021Sep 21 Reported Nov 2, 2021Reported Nov 2	$3.69	$3.93	$3.40 - $4.37	-6.11%	Miss	20	No revisions (30d)	+9.8%
Jun 30, 2021Jun 21 Reported Aug 3, 2021Reported Aug 3	$4.10	$4.05	$3.65 - $4.47	+1.23%	Beat	21	3 0 30d	+120.4%
Mar 31, 2021Mar 21 Reported May 4, 2021Reported May 4	$4.07	$3.47	$3.12 - $3.96	+17.29%	Beat	18	5 0 30d	+19.4%
Dec 31, 2020Dec 20 Reported Feb 4, 2021Reported Feb 4	$3.36	$2.80	$2.12 - $3.32	+20.00%	Beat	18	5 0 30d	+31.2%
Sep 30, 2020Sep 20 Reported Oct 27, 2020Reported Oct 27	$3.36	$2.45	$1.81 - $3.14	+37.14%	Beat	21	5 0 30d	-13.4%
Jun 30, 2020Jun 20 Reported Jul 28, 2020Reported Jul 28	$1.86	$1.00	$0.30 - $1.70	+86.00%	Beat	22	5 0 30d	-56.4%
Mar 31, 2020Mar 20 Reported Apr 28, 2020Reported Apr 28	$3.41	$2.23	$1.40 - $2.58	+52.91%	Beat	19	No revisions (30d)	-18.8%
Dec 31, 2019Dec 19 Reported Feb 4, 2020Reported Feb 4	$2.56	$2.46	$2.07 - $2.68	+4.07%	Beat	22	2 0 30d	-26.4%
Sep 30, 2019Sep 19 Reported Oct 29, 2019Reported Oct 29	$3.88	$3.84	$3.70 - $4.05	+1.04%	Beat	22	3 0 30d	-4.2%
Jun 30, 2019Jun 19 Reported Jul 30, 2019Reported Jul 30	$4.27	$4.44	$4.02 - $4.73	-3.83%	Miss	24	6 0 30d	+28.6%
Mar 31, 2019Mar 19 Reported Apr 30, 2019Reported Apr 30	$4.20	$3.51	$3.36 - $3.91	+19.66%	Beat	24	6 0 30d	+72.8%
Dec 31, 2018Dec 18 Reported Feb 6, 2019Reported Feb 6	$3.48	$3.81	$3.62 - $4.04	-8.66%	Miss	24	3 0 30d	+309.6%
Sep 30, 2018Sep 18 Reported Oct 30, 2018Reported Oct 30	$4.05	$3.76	$3.51 - $4.05	+7.71%	Beat	24	5 0 30d	+49.4%
Jun 30, 2018Jun 18 Reported Jul 31, 2018Reported Jul 31	$3.32	$3.59	$2.90 - $4.06	-7.52%	Miss	23	3 0 30d	+31.2%
Mar 31, 2018Mar 18 Reported May 1, 2018Reported May 1	$2.43	$2.94	$2.80 - $3.09	-17.35%	Miss	22	8 0 30d	+3.0%
Dec 31, 2017Dec 17 Reported Feb 6, 2018Reported Feb 6	$-1.66	$2.66	$2.47 - $3.00	-162.41%	Miss	22	5 0 30d	-173.8%
Sep 30, 2017Sep 17 Reported Oct 31, 2017Reported Oct 31	$2.71	$2.46	-	+10.16%	Beat	-	-	-
Jun 30, 2017Jun 17 Reported Aug 1, 2017Reported Aug 1	$2.53	$2.56	-	-1.17%	Miss	-	-	-
Mar 31, 2017Mar 17 Reported May 2, 2017Reported May 2	$2.36	$1.84	-	+28.26%	Beat	-	-	-
Dec 31, 2016Dec 16 Reported Feb 9, 2017Reported Feb 9	$2.25	$2.01	-	+11.94%	Beat	-	-	-

Dividends

Dividend Metrics

Forward Yield1.65%

Forward Annual Dividend$8.80

Payout Ratio24.33%

FrequencyQuarterly

Pay MonthsMar, Jun, Sep, Dec

Growth

3Y CAGR+8.15%

5Y CAGR+7.66%

CMI dividend history and ex-dividend dates Run CMI in the free DRIP calculator

Key Metrics

Valuation
P/E Ratio	23.40	EV/EBITDA	15.17x
Price/FCF	21.81x	FCF Yield	4.58%
Profitability
Profit Margin	7.82%	Operating Margin	11.90%
ROE	21.10%	ROIC	14.38%
Financial Health
Debt/Equity	0.60x	Interest Coverage	12.53x
Current Ratio	1.73x	Quick Ratio	1.13x
Trading Statistics
Beta	1.24	Avg Volume	1.14M
52-Week High	$735.02	52-Week Low	$401.70

Technical Indicators Dashboard

Moving Averages

SMA 10$526.39

SMA 20$525.03

SMA 50$559.40

SMA 200$601.53

EMA 10$526.86

EMA 20$530.36

EMA 50$556.97

EMA 200$570.51

MACD

Line: -8.05Signal: -11.81Hist: 3.76

ADX

ADX: 43.3+DI: 12.2-DI: 25.8

Aroon & PSAR

Aroon Up4.0

Aroon Down60.0

PSAR$511.59

Bollinger Bands

Upper Band$536.76

Lower Band$513.30

%B Position447%(Upper)

Band Width0.82

RSI (14-Day)

Neutral

48.0

Momentum Oscillators

Stoch %K66.4

Stoch %D62.4

Williams %R-23.6

ROC (10d)3.0%

Momentum15.63

CCI (20d)35.1

MFI (14d)41.0

Volatility Measures

ATR (14d)$13.84(2.6%)

StdDev (20d)5.86

Hist Vol21.6%(Moderate)

Volume Flow

VWAP$526.17

OBV24.9M

AD Line-140.5M

CMF (20d)0.293

Volume Metrics

Avg Vol (20d)1.1M

Vol Ratio1.3x

VWMA (20d)$525.06

Pivot Points

R3$538.64

R2$533.56

R1$529.76

Pivot Point$524.68

S1$520.88

S2$515.80

S3$512.00

Advanced Oscillators

TSI-17.97

Ultimate Osc62.4

KST-55.20

Financial Data

Quarter	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023
Total Revenue	$9.46B	$8.40B	$8.54B	$8.32B	$8.64B	$8.17B	$8.45B	$8.46B	$8.80B	$8.40B	$8.54B	$8.43B
Cost of Revenue	$6.99B	$6.16B	$6.58B	$6.19B	$6.36B	$6.02B	$6.41B	$6.29B	$6.60B	$6.36B	$6.54B	$6.36B
Gross Profit	$2.46B	$2.24B	$1.95B	$2.13B	$2.28B	$2.15B	$2.03B	$2.17B	$2.19B	$2.04B	$2.00B	$2.07B

Operating Expenses	$1.34B	$1.44B	$1.25B	$1.38B	$1.17B	$1.15B	$1.37B	$1.22B	$1.25B	$1.24B	$3.33B	$1.24B
R&D	$385.00M	$358.00M	$350.00M	$345.00M	$357.00M	$344.00M	$356.00M	$359.00M	$379.00M	$369.00M	$390.00M	$376.00M
SG&A	$893.00M	$845.00M	$786.00M	$789.00M	$779.00M	$771.00M	$801.00M	$807.00M	$828.00M	$839.00M	$876.00M	$831.00M
Operating Income	$1.28B	$801.00M	$813.00M	$852.00M	$1.23B	$1.13B	$855.00M	$1.05B	$1.04B	$800.00M	$-1,562,000,000	$950.00M

Interest Income	$154.00M	$148.00M	$116.00M	$104.00M	$118.00M	$131.00M	$70.00M	$99.00M	$103.00M	$123.00M	$113.00M	$118.00M
Interest Expense	$80.00M	$76.00M	$82.00M	$83.00M	$87.00M	$77.00M	$89.00M	$83.00M	$109.00M	$89.00M	$92.00M	$97.00M
Income Before Tax	$1.29B	$934.00M	$791.00M	$830.00M	$1.23B	$1.12B	$662.00M	$1.04B	$977.00M	$2.22B	$-1,230,000,000	$878.00M
Income Tax Expense	$325.00M	$254.00M	$171.00M	$271.00M	$297.00M	$267.00M	$217.00M	$200.00M	$225.00M	$193.00M	$163.00M	$188.00M

Net Income	$968.00M	$680.00M	$620.00M	$559.00M	$928.00M	$850.00M	$445.00M	$843.00M	$752.00M	$2.03B	$-1,393,000,000	$690.00M

EBITDA	$1.65B	$1.14B	$1.15B	$1.19B	$1.59B	$1.46B	$1.15B	$1.39B	$1.35B	$2.45B	$-1,224,000,000	$1.23B
EBIT	$1.37B	$862.00M	$873.00M	$913.00M	$1.31B	$1.19B	$874.00M	$1.13B	$1.09B	$2.19B	$-1,488,000,000	$975.00M

* Some calculated fields are derived from available data when not provided by source

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Government Contracts

Gov Obligations (TTM)

$131.19M

Gov Obligations / Revenue

0.4%

Obligations YoY

-42.9%

Active Awards

10,319

New Awards (TTM)

10,227

Avg Remaining Term

8.0 mo

Top agency: Department of Defense at 95.2% of trailing twelve month obligations across 12 agencies

Recent Awards

Award ID	Agency	Obligated	Start	End	Description
W912CH26F0198	Department of DefenseDepartment of the Army	$30.80M	Apr 23, 2026	Sep 30, 2027	DELIVERY ORDER FOR A QUANTITY OF 120 EACH, V903 600 HP RWS REMAN IN CONTAINER ENGINES AND A QUANTITY OF 80 EACH, V903 600 HP RWS NEW IN CONTAINER ENGINES.
W909MY26F0002	Department of DefenseDepartment of the Army	$29.48M	Dec 15, 2025	Jul 31, 2027	ACQUIRE GENERATOR SETS IN BOTH THE 500 KW SKID MOBILE ELECTRIC POWER GENERATOR SET (MEPGS) -10001 AND POWER PLANT (PP) (MEPGS- 35001) CONFIGURATIONS TO MEET THE ELECTRICAL POWER NEEDS FOR THE LOWER TIER AIR AND MISSILE DEFENSE SENSOR (LTAMDS).
W909MY26F0016	Department of DefenseDepartment of the Army	$17.22M	Jan 29, 2026	Jul 30, 2027	PURCHASE PRODUCTION AND DELIVERY OF ADVANCED MEDIUM POWER SOURCES (AMMPS) GENERATOR SETS.
W912CH25F0428	Department of DefenseDepartment of the Army	$10.89M	Sep 4, 2025	Jan 31, 2028	DELIVERY ORDER FOR A QUANTITY OF 64 EACH, V903 M109 675 HP NEW ENGINES.
W912CH26F0039	Department of DefenseDepartment of the Army	$9.90M	Dec 18, 2025	May 31, 2027	DELIVERY ORDER FOR A QUANTITY OF 50 EACH, V903 600 HP RWS NEW IN CONTAINER EGINES.
W909MY25F0086	Department of DefenseDepartment of the Army	$3.94M	Sep 16, 2025	Apr 1, 2027	PURCHASE PRODUCTION AND DELIVERY OF ADVANCED MEDIUM MOBILE POWER SOURCES GENERATOR SETS.
70Z04025F51677B00	Department of Homeland SecurityU.S. Coast Guard	$3.22M	Aug 20, 2025	Oct 20, 2025	PURCHASE OF (20) STBD 47 MLB SLEP ENG. FULL DRESSED, (20) PORT 47 MLB SLEP ENG FULL DRESSED CUMMINS DIESEL ENGINES
SPRBL126F0071	Department of DefenseDefense Logistics Agency	$2.90M	Feb 20, 2026	Jan 26, 2028	DELIVERY ORDER FOR NSN: 6110-01-588-4725, DIGITAL CONTROL BOX
W912CH25C0089	Department of DefenseDepartment of the Army	$2.48M	Sep 25, 2025	Sep 30, 2026	PROVIDES FSR TECHNICAL SUPPORT FOR DIAGNOSES AND REPAIR OF THE V903 ENGINE FAILURES FOR THE SPHS, BFVS, AMPV, AND MLRS PROGRAMS.
SPRDL125C0096	Department of DefenseDefense Logistics Agency	$1.87M	Sep 24, 2025	Jun 1, 2026	TURBO SUPERCHARGER NSN 2950 01 386 1566 BASE QTY 123, OPTION QTY 123

Federal contract obligations are bookings recorded by the awarding agency, not recognized revenue. They can exceed 100% of revenue and can be negative when contracts are de-obligated. Source: USAspending.gov prime awards, data through Jul 31, 2026.

News

2,063 Shares in Cummins Inc. $CMI Acquired by Ninety One UK Ltd

Ninety One UK Ltd acquired 2,063 shares of Cummins Inc. (NYSE:CMI) in the third quarter, valued at approximately $1.07 million...

MarketBeat•Oct 16, 2026 5:19 AM ET10/16/26•Neutral

Ellsworth Advisors LLC Purchases 9,466 Shares of Cummins Inc. $CMI

Ellsworth Advisors LLC significantly increased its stake in Cummins Inc. (NYSE:CMI) during the third quarter by purchasing 9,466 shares...

MarketBeat•Oct 16, 2026 4:21 AM ET10/16/26•Neutral

2,008 Cummins Inc. $CMI Shares Bought by Focus Financial Network Inc.

Focus Financial Network Inc. significantly increased its stake in Cummins Inc. by 320.3% in the third quarter, acquiring an additional 2,008 shares to reach a total of 2,635 shares valued at $1.36 million. This comes as...

MarketBeat•Oct 16, 2026 3:47 AM ET10/16/26•Somewhat-Bullish

Assenagon Asset Management S.A. Acquires 411,060 Shares of Cummins Inc. $CMI

Assenagon Asset Management S.A. significantly increased its stake in Cummins Inc. during the third quarter, purchasing an additional 411,060 shares...

MarketBeat•Oct 16, 2026 3:11 AM ET10/16/26•Somewhat-Bullish

Cummins Inc. stock outperforms competitors on strong trading day

Cummins Inc. (CMI) shares rallied 1.29% to $532.73 on Thursday, outperforming the broader market. The S&P 500 Index and Dow Jones Industrial Average also saw gains. Despite the strong trading day...

MarketWatch•Oct 16, 2026 12:39 AM ET10/16/26•Neutral

CMI Valuation and Fair Value

P/E: 23.4x
Forward P/E: 15.4x
EV/EBITDA: 15.2x
P/FCF: 21.8x
PEG: 1.1x
P/B: 5.7x

See GNG's fair value

CMI Profitability: Margins, ROIC and FCF

Gross margin: 25.3%
Operating margin: 11.9%
Net margin: 7.8%
ROIC: 14.4%
ROE: 21.1%
FCF margin: 9.7%
FCF yield: 4.6%

CMI Competitors

Company	Ticker
Canadian Pacific Kansas City Limited	CP
Norfolk Southern Corporation	NSC
Illinois Tool Works Inc	ITW
Canadian National Railway Company	CNI
Vertiv Holdings Co	VRT
Northrop Grumman Corporation	NOC
Cintas Corporation	CTAS
Republic Services Inc	RSG

Sector: Industrials

CMI Analyst Ratings

Consensus: Buy
Analysts: 23
Strong Buy: 4
Buy: 11
Hold: 8
Sell: 0
Strong Sell: 0

CMI Bull Case vs Bear Case

Bull case

65.2% of CMI's analyst ratings are Buy or Strong Buy.

CMI Earnings: Beat Rate and Next Report

Beat rate: 5 of 8 quarters (62.5%)
Average surprise: 7.8%
EPS estimate (fiscal period ending Sep 30, 2026): $8.41
Estimate revisions (30 days, fiscal period ending Sep 30, 2026): 1 up, 0 down

CMI Dividend

Forward yield: 1.7%
Payout ratio: 24.3%
3Y DPS growth: 8.1%
5Y DPS growth: 7.7%
Pay months: Mar, Jun, Sep, Dec

CMI dividend history

Frequently Asked Questions About CMI

What is CMI's current dividend yield?

Cummins Inc (CMI) has a forward dividend yield of 1.65%.

Does CMI pay dividends?

Yes, Cummins Inc pays dividends with a forward dividend yield of 1.65%.

What is CMI's P/E ratio?

Cummins Inc has a price-to-earnings (P/E) ratio of 23.40.

What is CMI's market cap?

Cummins Inc (CMI) has a market capitalization of $73.34B with a current stock price of $532.63.

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