Cummins Inc. (CMI)

NYSE: CMI · USD

$529

-1.27 (-0.2%)· Recorded snapshot

Englische QuelleDE

Englische Quelle wird angezeigt, während wir übersetzen

Dieser Bericht wurde noch nicht übersetzt. Aktualisieren Sie in ein paar Minuten, sobald die Übersetzungswarteschlange aufgeholt hat.

StockMarketAgent Research · Analyzed 2026-10-22

Our latest published analysis: CMI rated Reduce

Cummins Inc.'s published Reduce conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$444 / share

Potential value

$524 / share

Upside to FV

-18.2%

from $529

Moat

7.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$74.8B
Revenue (ttm)	34.7B
Net income (ttm)	2.7B
EPS (ttm)	$19.6
Shares out	137.7M
P/E (trailing)	27.1x
P/E (forward)	15.4x
Dividend	$8.80 (1.66%)
Volume	563,340
Beta	1.24

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 34.7B
Net income (ttm): 2.7B
EPS (ttm): $19.6
P/E (trailing): 27.1x
P/E (forward): 15.4x
Market cap: $74.8B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$24.02B	$28.07B	$34.07B	$34.10B	$33.67B	+8.8%
Gross profit	$5.70B	$6.72B	$8.25B	$8.44B	$8.52B	+10.6%
Operating income	$2.71B	$2.93B	$1.76B	$3.75B	$4.03B	+10.4%
Net income	$2.13B	$2.15B	$735.0M	$3.95B	$2.84B	+7.5%
EPS (diluted)	$14.61	$15.12	$5.15	$28.37	$20.50	+8.8%
EBITDA	$3.52B	$3.80B	$1.76B	$6.34B	$5.40B	+11.2%
R&D	$1.09B	$1.28B	$1.50B	$1.46B	$1.40B	+6.4%
SG&A	$2.37B	$2.69B	$3.33B	$3.28B	$3.13B	+7.1%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	Verkaufen
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	Verkaufen
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	Starker Kauf
AAL	American Airlines Group Inc.	8.3B	—	0.1x	3.0%	+20.0%	-6.9%	Halten
ADP	Automatic Data Processing, Inc.	113B	25.3x	5.1x	62.8%	+7.7%	+4.5%	Halten
ALLE	Allegion plc	15.2B	22.5x	3.5x	19.4%	+8.8%	+7.2%	Halten

Base and Bull scenarios

Bull20%

Price target

$523.74

-3.4% from spot

In the Bull scenario, persistent hyperscale AI data center expansion sustains utility-scale backup generator demand well beyond 2028. Power Systems delivers top-of-range revenue growth of 19% with EBITDA margins reaching 25.75%. The EPA MY2027 engine transition proceeds seamlessly with complete cost pass-through and minimal warranty disruption, while China and India joint ventures accelerate. This optimistic operating path supports the upper valuation bound of $523.74.

Power Systems revenue growth sustains 19% annually with EBITDA margins at 25.75%
Full powertrain pricing pass-through compensates for new emissions platforms with zero margin erosion
Consolidated FY2027 revenue approaches the high end of consensus at $43.15B

Base60%

Price target

$443.65

-18.2% from spot

The modal Base scenario reflects management's updated 2026 guidance and consensus forward trajectory. Consolidated revenue expands 11.87% in FY2026 to $37.67B within the guided 10% to 13% range, reaching $41.34B in FY2027. Diluted EPS increases to $28.45 in FY2026 and $34.34 in FY2027. Operating margins expand to 12.8% in FY2026 and normalize at 13.5%, supported by Power Systems mix and steady Distribution aftermarket cash flow. Cash flows are discounted at the moderate Ke of 9.9414%, yielding the house fair value midpoint of $443.65.

Consolidated revenue reaches $37.67B in FY2026 and $41.34B in FY2027
Consolidated diluted EPS of $28.45 in FY2026 and $34.34 in FY2027
Discounting at moderate cost of equity of 9.9414% with 2.5% terminal growth

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($443.65). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.3%	2.5%	2.8%	3.0%
8.9%	$471	$479	$486	$495	$504
9.4%	$451	$457	$464	$471	$478
9.9%	$433	$438	$444	$450	$456
10.4%	$416	$421	$426	$431	$437
10.9%	$402	$406	$410	$414	$419

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E15.4

P25 n/aP50 n/aP75 n/a

Trailing P/E27.7

P25 n/aP50 n/aP75 n/a

ROE21.1

P25 n/aP50 n/aP75 n/a

ROIC15.7

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All CMI indicators

Market & fundamental data

Available fields

286

Groups with data

Currency

USD

Showing 286 of 286 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000026172
Company name	Cummins Inc.
Country	United States
Country code	US
CUSIP number	231021106
Earnings date	2026-11-05
Earnings time	bmo
Employees	67,400
Employees change	-2,200
Employees growth	-3.16%
Enterprise value	$77.2B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	1919
In index	SP500
Industry	Specialty Industrial Machinery
Is primary listing	Yes
Is SPAC	No
ISIN number	US2310211063
Last 10-K release date	2026-02-10
Last earnings date	2026-08-04
Last refreshed	2026-10-28
Last stock split date	2008-01-03
Last stock split type	Forward
Market cap	$72.9B
Market cap category	Large-Cap
Next earnings date	2026-11-05
Options	Yes
Price	$529.36
Price currency	USD
Sector	Industrials
SIC code	3510
Stock price date	2026-10-28
Symbol	CMI
U.S. state	Indiana
Website	https://www.cummins.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	22.32x
Average P/E ratio (10Y)	18.09x
Average P/E ratio (3Y)	22.73x
Average P/E ratio (5Y)	19.42x
Earnings yield	3.7%
EV/Earnings	28.45x
EV/EBIT	19.74x
EV/EBITDA	15.39x
EV/FCF	22.94x
EV/Sales	2.23x
FCF / EV yield	4.36%
FCF yield	4.62%
Forward EV/Sales	1.95x
Forward P/E	16.11x
Forward P/S	1.84x
Graham number	202.68177
Graham upside	-61.71%
Industry forward P/E	24.98x
Industry P/E	32.46x
Lynch fair value	$97.82
Lynch upside	-81.52%
P/B ratio	5.69x
P/E ratio	27.06x
P/FCF ratio	21.64x
P/OCF ratio	15.68x
P/S ratio	2.1x
PEG ratio	0.9x
Price / tangible book value	8.62x
Price/EBITDA ratio	14.52x
Sector forward P/E	26.03x
Sector P/E	40.37x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	11.27%
EBITDA margin	14.46%
Effective tax rate	26.53%
FCF margin	9.7%
Gross margin	25.77%
Operating margin	11.27%
Pretax margin	11.09%
Profit margin	7.82%
Profit per employee	$40,282
Profitable quarters	10
Profitable years	24
Revenue per employee	$514,955
ROA	7%
ROA (5Y)	5.99%
ROCE	15.67%
ROE	21.11%
ROE (5Y)	23.28%
ROIC	15.66%
ROIC (5Y)	14.87%
Tax / revenue	2.94%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-7.99%
EPS growth (Q)	4.67%
EPS growth (QoQ)	42.89%
EPS growth 10Y	10.36%
EPS growth 3Y	3.08%
EPS growth 5Y	5.64%
EPS growth quarters	1
EPS growth years	0
FCF growth	103.81%
FCF growth (Q)	125.63%
FCF growth (QoQ)	941.67%
FCF growth 3Y	45.28%
FCF growth 5Y	4.27%
Gross profit growth	2.19%
Gross profit growth (Q)	8.07%
Gross profit growth 3Y	5.42%
Gross profit growth 5Y	9.53%
Net income growth	-7.68%
Net income growth (Q)	4.72%
Net income growth (QoQ)	42.51%
Net income growth 3Y	2.23%
Net income growth 5Y	4.25%
Net income growth quarters	1
Net income growth years	0
OCF growth	63.4%
OCF growth (Q)	90.96%
OCF growth (QoQ)	385.11%
OCF growth 10Y	7.63%
OCF growth 3Y	28.76%
OCF growth 5Y	6.96%
Operating income growth	-4.49%
Operating income growth (Q)	1.53%
Operating income growth 3Y	6.85%
Operating income growth 5Y	10.22%
Revenue growth	2.93%
Revenue growth (Q)	9.42%
Revenue growth (QoQ)	12.61%
Revenue growth 10Y	6.67%
Revenue growth 3Y	2.54%
Revenue growth 5Y	8.44%
Revenue growth quarters	3
Revenue growth years	0

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-1.3B
Depreciation and amortization	$1.1B
EBIT	$3.9B
EBITDA	$5B
EPS	$19.56
FCF per share	$24.46
Financing cash flow	$-2.2B
Free cash flow	$3.4B
Gross profit	$8.9B
Income taxes	$1B
Investing cash flow	$-1.5B
Net borrowing	$-509M
Net cash flow	$860M
Net income	$2.7B
Operating income	$3.9B
Revenue	$34.7B

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	4.5
Book value per share	$93.32
Debt / EBITDA	1.58
Debt / equity	0.6
Debt / FCF	2.46
Goodwill	$2.2B
Interest coverage	12.19
Long-term assets	$17.2B
Long-term liabilities	$11.1B
Net cash (debt)	$-4.4B
Net cash / market cap	-5.99%
Net debt / EBITDA	0.87
Net debt / equity	0.31
Net debt / FCF	1.3
Piotroski F-Score	6
Property, plant and equipment	$7.6B
Shareholders' equity	$13.9B
Tangible book value	$8.5B
Tangible book value per share	$61.43
Total assets	$35.6B
Total cash	$3.9B
Total debt	$8.3B
Total liabilities	$21.7B
WACC	10.22%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.99
Current assets	$18.4B
Current liabilities	$10.7B
Current ratio	1.73
Inventory turnover	4.06
Net working capital	$4.9B
Quick ratio	0.98
Working capital	$7.8B
Working capital turnover	4.83

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-0.36%
Dividend growth	9.95%
Dividend growth (10Y)	7.7%
Dividend growth (3Y)	8.92%
Dividend growth (5Y)	8.45%
Dividend growth years	20
Dividend payment date	2026-12-03
Dividend payment years	56
Dividend payout frequency	Quarterly
Dividend per share	$8.80
Dividend yield	1.66%
Ex-dividend date	2026-11-20
FCF payout ratio	35.98%
Last dividend	$2.20
Payout ratio	44.98%
Shareholder yield	1.3%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	319.26%
10Y return CAGR	18.38%
10Y total return	440.41%
150-day SMA	$614.04
15Y price change	420.46%
15Y return CAGR	14.4%
15Y total return	652.04%
1D price change	-0.24%
1M price change	0.82%
1M total return	0.82%
1W price change	-2.37%
1W total return	-2.37%
1Y price change	25.72%
1Y return CAGR	27.58%
1Y total return	27.56%
20-day SMA	$526.60
200-day SMA	$603.63
20Y price change	1,516.86%
20Y return CAGR	17.47%
20Y total return	2,402.64%
3M price change	-20.02%
3M total return	-19.72%
3Y price change	145.94%
3Y return CAGR	37.73%
3Y total return	161.34%
50-day SMA	$540.57
50-day SMA vs 200-day SMA	50under200
52-week high	$737.76
52-week high date	2026-06-18
52-week low	$413.98
52-week low date	2025-10-28
5Y price change	125.4%
5Y return CAGR	20.38%
5Y total return	152.77%
6M price change	-19.89%
6M total return	-19.34%
All-time high	$737.76
All-time high date	2026-06-18
All-time low	$1.45
All-time low date	1974-12-09
Average true range (ATR)	$14.65
Average volume	1.1M
Beta (1Y)	0.87
Beta (2Y)	1.17
Beta (5Y)	1.24
Change from 52-week high	-28.25%
Change from 52-week low	27.87%
Change from all-time high	-28.25%
Change from all-time low	36,332.21%
Change from open	-1.4%
Day's gap	1.19%
Dollar volume	$298.2M
High price	$536.90
Low price	$525.64
Monthly RSI	55.15
Open price	$536.90
Position in 52-week range	33.04%
Premarket change	1.72%
Premarket close	$530.61
Premarket price	$539.72
Premarket volume	548
Previous close	$530.61
Price vs 150-day SMA	-13.79%
Price vs 20-day SMA	0.52%
Price vs 200-day SMA	-12.3%
Price vs 50-day SMA	-2.07%
Relative volume	0.52
RSI	48.55
Sharpe ratio	0.74
Sharpe ratio (3Y)	1.07
Sharpe ratio (5Y)	0.62
Sortino ratio	1.24
Sortino ratio (3Y)	1.81
Sortino ratio (5Y)	1.12
Volume	563.3K
Weekly RSI	39.3
YTD price change	3.71%
YTD total return	4.77%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	137.1M
Float percentage	99.58%
Shares change (QoQ)	-0.22%
Shares change (YoY)	0.36%
Shares held by insiders	0.27%
Shares held by institutions	86.78%
Shares outstanding	137.7M
Short % of float	3.03%
Short % of shares	3.01%
Short ratio	3.6 days

Deeper analysis on CMI

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this CMI report

What is the latest published CMI stock rating?

Cummins Inc. is shown with Reduce in the latest published report, analyzed 2026-10-22. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full CMI analysis?

The full latest published report, analyzed 2026-10-22, lives at /stocks/CMI/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for CMI?

The latest published report analyzed 2026-10-22 gives CMI a fair value of USD 444 and a potential value of USD 524. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the CMI page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-22). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

ReduceCMI · Fair value $444-18.2%

Read full analysis →

Cummins Inc. (CMI)

Our latest published analysis: CMI rated Reduce

Price

Financial snapshot

Fair-value bridge

Latest news · CMI

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All CMI indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on CMI

Frequently asked questions

Ratingverlauf

Category	Score	Reading
Valuation	3.0
Management	8.5
Balance Sheet	7.0
Profitability	6.0
Revenue Growth	6.0
Risk Assessment	6.5
Competitive Moat	7.5
Earnings Quality	7.5
Capital Efficiency	6.5