Inside the research
Cummins Inc.
CMI Research profile · latest available data
Price overview
$525.06
▲ +3.99 (+0.8%)
| 52w hi | $724.89 |
|---|---|
| 52w lo | $402.10 |
| Vol | 812.00K |
| As of | 25 Sep 2026 |
The Verdict
Our score -0.37
| Short | -0.45 |
|---|---|
| Medium | -0.42 |
| Long | -0.09 |
computed 2026-09-27
Key fundamentals
Cummins Inc.
Industrials · Specialty Industrial Machinery
| Market cap | $72.28B |
|---|---|
| Enterprise value | $77.70B |
| Trailing P/E | 26.82x |
| Forward P/E | 15.16x |
| EV / EBITDA | 15.48x |
| P / S (ttm) | 2.09x |
| Profit margin | 7.8% |
| Return on equity | 21.1% |
| Revenue growth | +9.4% |
| Earnings growth | +4.7% |
| Debt / equity | 59.59 |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | +0.26 | |
| Sector | -0.01 | |
| Technical | -0.37 | |
| Earnings | +0.00 | |
| Sentiment | +0.00 |
macro × 1.00 · 2026-09-27
Business overview
Cummins Inc. offers various power solutions worldwide. 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.
Risk Metrics
| Beta vs SPX | 1.33 |
|---|---|
| Corr SPX | 0.64 |
| Annual vol | 33.5% |
| Annual ret | +32.2% |
| Sharpe | 0.96 |
| Max DD | -30.8% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $703.31 |
|---|---|
| High / Low | $815.00 / $520.00 |
| Median | $712.50 |
| Analysts | 20 |
| Strong Buy | 4 | |
|---|---|---|
| Buy | 9 | |
| Hold | 9 | |
| Sell | 0 | |
| Strong Sell | 1 |
Recent rating actions
| 2026-05-07 | Barclays | → Overweight |
| 2026-05-06 | Wells Fargo | → Overweight |
| 2026-05-06 | Morgan Stanley | → Overweight |
| 2026-05-06 | JP Morgan | → Neutral |
| 2026-05-06 | Citigroup | → Buy |
| 2026-04-20 | Truist Securities | → Buy |
Officers & Board
| Founder | Clessie Cummins current |
|---|
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-08-04 | Earnings Release, Exhibits | read |
| 2026-05-14 | Shareholder Vote | read |
| 2026-05-05 | Earnings Release, Exhibits | read |
| 2026-02-05 | Earnings Release, Exhibits | read |
| 2025-11-06 | Earnings Release, Exhibits | read |
| 2025-08-05 | Earnings Release, Exhibits | read |
| 2025-07-14 | Officer / Director Change, Exhibits | read |
| 2025-06-02 | Material Agreement, Material Obligation… | read |
| 2025-05-15 | Shareholder Vote | read |
| 2025-05-09 | Material Obligation, Other Material Event… | read |
| 2025-05-07 | Other Material Event, Exhibits | read |
| 2025-05-05 | Earnings Release, Exhibits | read |
Flow & Concentration
| Insider 180d net | $0 |
|---|---|
| Insider buys / sells | 0 / 0 |
| Insider bias | Neutral |
| 13F holders | 9 |
| Top-5 share | 95.8% |
| HHI | 3,294 (concentrated) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| State Street Corp | $4.93B | 6.91M |
| Fidelity / FMR LLC | $4.34B | 6.09M |
| AQR Capital Management | $884.76M | 1.26M |
| Capital Research / Capital World | $598.45M | 839.09K |
| Norges Bank (Norway sovereign) | $382.90M | 536.87K |
| Citadel Advisors | $242.27M | 339.68K |
| Millennium Management | $233.53M | 327.44K |
| Bridgewater Associates | $15.20M | 21.32K |
| T. Rowe Price Group | $165.57K | 232.14K |
As of 2026-06-30
Connections
Dividends
| Yield (TTM) | 0.76% |
|---|---|
| $ / share (TTM) | $4.00 |
| 5y CAGR | +7.7% |
Annual dividend per share
| 2021 | $5.60 |
|---|---|
| 2022 | $6.04 |
| 2023 | $6.50 |
| 2024 | $7.00 |
| 2025 | $7.64 |
| 2026 | $2.00 |
SEC Filings
The Long Run
FY 2009–2025 · 17 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $34.06B | +7.4% | |
| Gross profit | $8.44B | +7.8% | |
| Operating income | $4.03B | +11.7% | |
| Net income | $1.04B | +37.7% | |
| Cash from ops | $3.62B | +11.1% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $525.20 | $529.47 | $520.00 | $525.06 | 812.00K |
| Sep 24 | $519.94 | $524.08 | $515.25 | $521.07 | 1.19M |
| Sep 23 | $520.77 | $525.13 | $514.37 | $524.65 | 1.42M |
| Sep 22 | $531.00 | $532.29 | $520.97 | $526.13 | 1.08M |
| Sep 21 | $539.94 | $539.99 | $527.27 | $534.78 | 1.02M |
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