CMI (Cummins Inc.) Stock Financials & Earnings | Market Cap Arena

CMI (Cummins Inc.) Stock Financials & Earnings | Market Cap Arena

CMICummins Inc.

Mkt Cap$78B

Industrials·Industrial - Machinery·🇺🇸 United States·NYSE

Revenue (TTM)$33.7B

Net Income (TTM)$2.8B

EPS (TTM)$20.50

Free Cash Flow (TTM)$2.4B

Gross Margin25.3%

Op. Margin11.9%

Net Margin8.4%

FCF Margin7.1%

P/S Ratio (TTM)2.3x

P/E Ratio (TTM)27.4x

YoY Rev Growth-1.3%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$8.5B	$2.0B	$1.0B
Q2 23	$8.6B	$2.1B	$997M
Q3 23	$8.4B	$2.1B	$950M
Q4 23	$8.5B	$2.0B	-$1.2B
Q1 24	$8.4B	$2.0B	$923M
Q2 24	$8.8B	$2.2B	$1.0B
Q3 24	$8.5B	$2.2B	$1.1B
Q4 24	$8.4B	$2.0B	$732M
Q1 25	$8.2B	$2.2B	$1.1B
Q2 25	$8.6B	$2.3B	$1.2B
Q3 25	$8.3B	$2.1B	$995M
Q4 25	$8.5B	$2.0B	$640M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	2.6x	30.9x
Q2 23	2.4x	30.7x
Q3 23	2.3x	27.9x
Q4 23	2.3x	106.1x
Q1 24	2.3x	40.2x
Q2 24	2.3x	40.1x
Q3 24	2.3x	37.2x
Q4 24	2.3x	19.8x
Q1 25	2.3x	28.1x
Q2 25	2.3x	26.5x
Q3 25	2.3x	29.2x
Q4 25	2.3x	27.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$495M	$302M
Q2 23	$483M	$262M
Q3 23	$1.5B	$1.2B
Q4 23	$1.5B	$940M
Q1 24	$276M	$107M
Q2 24	-$851M	-$1.1B
Q3 24	$640M	$381M
Q4 24	$1.4B	$882M
Q1 25	-$3M	-$165M
Q2 25	$785M	$554M
Q3 25	$1.3B	$1.0B
Q4 25	$1.5B	$990M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$193M
Q2 23	$221M
Q3 23	$280M
Q4 23	$519M
Q1 24	$169M
Q2 24	$240M
Q3 24	$259M
Q4 24	$540M
Q1 25	$162M
Q2 25	$231M
Q3 25	$298M
Q4 25	$544M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+32.4%	+28.5%
Q2 23	+31.2%	+34.3%
Q3 23	+15.0%	+11.5%
Q4 23	+9.9%	+40.0%
Q1 24	-0.6%	+0.7%
Q2 24	+1.8%	+1.4%
Q3 24	+0.3%	-1.0%
Q4 24	-1.1%	-20.9%
Q1 25	-2.7%	-5.9%
Q2 25	-1.7%	-4.3%
Q3 25	-1.6%	-1.1%
Q4 25	+1.1%	+2.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 23	$350M	$722M	—
Q2 23	$384M	—	$873M
Q3 23	$376M	—	$831M
Q4 23	$390M	—	$751M
Q1 24	$369M	$809M	—
Q2 24	$379M	$830M	—
Q3 24	$359M	—	$807M
Q4 24	$356M	—	$801M
Q1 25	$344M	$754M	—
Q2 25	$357M	—	$779M
Q3 25	$345M	—	$789M
Q4 25	$350M	—	$786M

Revenue by Geography

Quarter	China	India	Non-US	United States
Q1 23	$790M	$411M	$2.5B	$4.8B
Q2 23	$762M	$413M	$2.5B	$4.9B
Q3 23	$721M	$374M	$2.5B	$4.9B
Q4 23	$842M	$480M	$2.5B	$4.7B
Q1 24	$723M	$444M	$2.5B	$4.8B
Q2 24	$747M	$425M	$2.5B	$5.1B
Q3 24	$727M	$416M	$2.5B	$4.8B
Q4 24	$751M	$494M	$2.5B	$4.7B
Q1 25	$779M	$426M	$2.2B	$4.8B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$2.0B	$459M	$2.4B
Q2 23	$1.8B	$512M	$2.3B
Q3 23	$2.4B	$452M	$2.8B
Q4 23	$2.2B	$562M	$2.7B
Q1 24	$2.5B	$510M	$3.1B
Q2 24	$1.6B	$593M	$2.2B
Q3 24	$1.7B	$518M	$2.3B
Q4 24	$1.7B	$593M	$2.3B
Q1 25	$1.5B	$626M	$2.2B
Q2 25	$2.3B	$755M	$3.1B
Q3 25	$2.6B	$593M	$3.2B
Q4 25	$2.8B	$764M	$3.6B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	142M	+0.1%
Q2 23	143M	+0.1%
Q3 23	143M	+0.2%
Q4 23	142M	-0.6%
Q1 24	142M	+0.1%
Q2 24	138M	-3.0%
Q3 24	138M	+0.1%
Q4 24	138M	+0.2%
Q1 25	138M	-0.1%
Q2 25	138M	+0.1%
Q3 25	139M	+0.1%
Q4 25	139M	+0.3%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$352K	55K
FY 15	$346K	55K
FY 16	$316K	55K
FY 17	$349K	59K
FY 18	$380K	63K
FY 19	$383K	62K
FY 20	$343K	58K
FY 21	$401K	60K
FY 22	$381K	74K
FY 23	$451K	76K
FY 24	$490K	70K
FY 25	$500K	67K