Cummins (CMI): financials, SEC filings and peers
Cummins (CMI) is a construction machinery & heavy transportation equipment company in the Industrials sector of the S&P 500, headquartered in Columbus, Indiana.
It was founded in 1919 and joined the S&P 500 on March 31, 1965.
Its fiscal year ends in December, and its shares trade on the NYSE.
In its SEC filings it is classified as “Engines & Turbines”.
Cummins at a glance
- Revenue (12 months)
- $34.7B
- Revenue growth
- +2.9%
- Operating margin
- 11.2%
- Net income (12 months)
- $2.8B
- Free cash flow (12 months)
- $3.4B
- Cash
- $3.2B
- Debt
- $7.2B
- Diluted EPS (12 months)
- $19.57
Twelve months to June 30, 2026, from the 10-Q filed August 4, 2026.
Latest twelve months
Over the twelve months to June 30, 2026, Cummins reported revenue of $34.7 billion, about the same as a year earlier (+2.9%).
Its operating margin was 11.2%, down 1.1 percentage points from a year earlier: for every $100 of sales, about $11 was left as operating profit.
Net income was $2.8 billion (8.1% of revenue), 7.8% lower than a year earlier.
Operating cash flow was $4.6 billion and capital spending $1.3 billion, leaving free cash flow of $3.4 billion (9.7% of revenue).
At the end of the period it held $3.2 billion in cash and $7.2 billion in debt, a net debt position of $4.1 billion.
Five-year trend
- Revenue went from $19.8 billion in fiscal 2020 to $33.7 billion in fiscal 2025, about 11.2% a year.
- Operating margin has been steady, around 12.0%.
- Free cash flow was positive in each of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $24.0B | $28.1B | $34.1B | $34.1B | $33.7B |
| Revenue growth | 21.3% | 16.9% | 21.3% | 0.1% | -1.3% |
| Operating margin | 11.3% | 10.4% | 5.2% | 11.0% | 12.0% |
| Net income | $2.2B | $2.2B | $840M | $4.1B | $3.0B |
| Free cash flow | $1.5B | $1.0B | $2.8B | $279M | $2.4B |
| Diluted EPS | $14.61 | $15.12 | $5.15 | $28.37 | $20.50 |
Fiscal years as reported in Cummins’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
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Questions about Cummins
Is Cummins's revenue growing?
Yes. Revenue for the twelve months to June 30, 2026 was $34.7 billion, up 2.9% from a year earlier, according to its SEC filings.
Is Cummins profitable?
Yes. It earned $2.8 billion in net income over the twelve months to June 30, 2026, a net margin of 8.1%.
Does Cummins have more cash or more debt?
At June 30, 2026 it had $3.2 billion in cash and $7.2 billion in debt, so more debt than cash.
When did Cummins last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on August 4, 2026.
Which companies are similar to Cummins?
In the S&P 500, Cummins is grouped in Construction Machinery & Heavy Transportation Equipment within the Industrials sector. Caterpillar Inc. (CAT), Paccar (PCAR), Wabtec (WAB) are in the same group.
Understand the numbers
Source: Cummins’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved September 27, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.