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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.
| 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 |
Recent price action with selectable time range.
| 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% |
Recent company headlines from major financial publishers.
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.
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.
| 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 |
Upcoming earnings date and setup when available.
The rating each month's published research edition carried. A rating compares the price at analysis with the Fair value; it is not a record of whether the call was right.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 |
