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Cummins Inc. (CMI)

Cummins was founded in 1919 as Cummins Engine Company in Columbus, Indiana, one of the first diesel engine makers, and took its present name in 2001. It sells diesel, electric and hybrid powertrains, integrated power generation systems, components such as aftertreatment, turbochargers, fuel systems, controls, transmissions, axles and brakes, and battery and electric powertrain systems. Customers are original equipment manufacturers, distributors, dealers and others worldwide, served through a network of approximately 640 wholly-owned, joint venture and independent distributor locations and more than 13,000 certified dealer locations across approximately 190 countries and territories. There are five reportable segments, which share technology, customers, strategic partners, brand and the distribution network: Engine, Components, Distribution, Power Systems and Accelera. Products compete mainly on performance, price, total cost of ownership, fuel economy, emissions compliance, speed of delivery, quality and customer support.

Cummins Inc.

Cummins was founded in 1919 as Cummins Engine Company in Columbus, Indiana, one of the first diesel engine makers, and took its present name in 2001. It sells diesel, electric and hybrid powertrains, integrated power generation systems, components such as aftertreatment, turbochargers, fuel systems, controls, transmissions, axles and brakes, and battery and electric powertrain systems. Customers are original equipment manufacturers, distributors, dealers and others worldwide, served through a network of approximately 640 wholly-owned, joint venture and independent distributor locations and more than 13,000 certified dealer locations across approximately 190 countries and territories. There are five reportable segments, which share technology, customers, strategic partners, brand and the distribution network: Engine, Components, Distribution, Power Systems and Accelera. Products compete mainly on performance, price, total cost of ownership, fuel economy, emissions compliance, speed of delivery, quality and customer support.

Engine and Components

The Engine segment, 26% of consolidated net sales in 2025, makes diesel, natural gas and gasoline engines under the Cummins name and customer brands for heavy-duty and medium-duty trucks and buses, light-duty automotive and off-highway markets, with displacement from 2.8 to 15 litres and 48 to 715 horsepower, plus new and remanufactured parts sold through the distribution network. Heavy-duty truck engines range from 310 to 615 horsepower, serving customers primarily in North America, China and Australia. The Components segment, 25% of consolidated net sales in 2025, designs and supplies products that complement Engine and Power Systems, including drivetrain and braking systems covering axles, drivelines, brakes and suspension, aftertreatment systems, turbochargers, fuel systems, valvetrain technologies, automated transmissions and electronics, developed against tightening emissions and fuel economy standards.

Distribution and Power Systems

The Distribution segment, 30% of consolidated net sales in 2025 and the largest of the five, is the primary sales, service and support channel; wholly-owned sites cover seven geographic regions, joint ventures serve South America, Southeast Asia, the Middle East and India, and independent distributors serve those and other markets, selling power generation systems, high-horsepower engines and heavy-duty and medium-duty engines. The Power Systems segment, 18% of consolidated net sales, sells standby and prime generators from 2 kilowatts to 3.5 megawatts with controls, paralleling systems and transfer switches for data centre, commercial, industrial, health care, rental fleet and defence use, plus turnkey distributed generation running on diesel, natural gas, battery storage and newer fuels; its industrial line covers high-horsepower engines up to 4,400 horsepower for mining, oil and gas, marine, rail and defence equipment.

Accelera

The Accelera segment designs, makes, sells and supports electrified power systems including battery and electric powertrain technologies, and is in the early stages of commercialising them. During 2025, with electrolyzer and hydrogen markets deteriorating rapidly and government incentives being reduced, the company fully impaired the goodwill of its electrolyzer business and wrote off certain inventory in the third quarter, then reviewed the business again in the fourth quarter and decided to stop new commercial activity in electrolyzers, subject to local consultation requirements, while continuing to fulfil existing customer commitments.

Atmus and the emissions settlement

On 18 March 2024 the company completed the divestiture of its remaining 80.5% holding in Atmus Filtration Technologies through a tax-free split-off, which reduced its shares outstanding by 5.6 million. In December 2023 it announced an agreement in principle with the Environmental Protection Agency, the California Air Resources Board, the Department of Justice and the California Attorney General's Office to resolve civil claims over emissions certification and compliance for certain engines used mainly in pick-up trucks; that became final in April 2024 and the required payments were made in the second quarter of 2024.

Customers and people

The company has thousands of customers worldwide. PACCAR is the largest, at 13% of consolidated net sales in 2025 against 16% in each of 2024 and 2023, supplied under long-term agreements that specify engine requirements for particular vehicle models rather than volumes; Cummins has supplied PACCAR for 81 years and no other customer was above 10% in 2025. There are also engine and aftertreatment supply agreements with Traton, Daimler and Stellantis. Individual product lines see modest seasonal variation but there is no material quarterly effect on demand overall. At 31 December 2025 the company employed approximately 67,400 people worldwide, approximately 20,000 of them represented by unions under agreements expiring between 2026 and 2030.

From Cummins' annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Cummins became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 5 November 2026
Revenue
$9.4 billion
+13.5% on the year · -0.2% on the quarter
Q4 FY2024Q3 FY2026
Net income
$1.1 billion
+112.7% on the year · +22.3% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$8.25
+113.7% on the year · +22.6% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 10 February 2026
Revenue
$33.7 billion
-1.3% on the year
FY2018FY2025
Net income
$2.8 billion
-28.0% on the year
FY2018FY2025
Diluted EPS
$20.50
-27.7% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsCummins (CMI) reported revenue of $33.7 billion for fiscal 2025, the year ended 31 December 2025, down 1.3% on the year before. Net income was $2.8 billion and diluted earnings per share $20.50. Revenue was $34.1 billion in fiscal 2024, $34.1 billion in fiscal 2023, $28.1 billion in fiscal 2022 and $24.0 billion in fiscal 2021. Net income in the same years was $3.9 billion, $735 million, $2.2 billion and $2.1 billion. Over the twelve months to 30 September 2026, Cummins reported revenue of $35.8 billion and net income of $3.3 billion. Revenue grew 11.2% a year, compounded, over the five years to fiscal 2025. Cummins declared $8.20 a share in dividends over the last four quarters and had 137 million shares outstanding at the latest filed count. At 30 September 2026 it carried $7.5 billion of debt and $3.6 billion of cash. At the close of 6 November 2026 the market cap of Cummins was $61.7 billion, 18.8 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE24.9%
ROCE21.5%
Operating margin12.5%
Net margin9.3%
FCF margin9.7%
Interest cover14.1x
Debt to equity0.56x
Cash conversion1.43x
Share count, last 12 months-0.7%
Sales CAGR, 3 years6.2%
Profit CAGR, 3 years9.7%
EPS, TTM$23.96

At the close of 6 November 2026

Price$450.11
Market cap$61.7 billion
Stock P/E18.8x
Price to book4.6x
EV / EBITDA11.7x
Dividend yield1.8%
Market cap / sales1.7x
52-week high$727.59
52-week low$448.25
Price, 1 year-2.7%
Price CAGR, 3 years27.0%
Price CAGR, 5 years13.7%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of Cummins Inc.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
CMIgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue5,8506,3856,5867,3337,7708,4538,6388,4318,5438,4038,7968,4568,4478,1748,6438,3178,5368,3989,4579,438
Cost of revenue4,5334,8534,8605,6915,9516,4246,4906,3606,5426,3626,6036,2856,4136,0196,3626,1886,5856,1556,9926,823
Gross profit1,3171,5321,7261,6421,8192,0292,1482,0712,0012,0412,1932,1712,0342,1552,2812,1291,9512,2432,4652,615
Gross margin23%24%26%22%23%24%25%25%23%24%25%26%24%26%26%26%23%27%26%28%
R&D288298299348333350384376390369379359356344357345350358385400
SG&A629615622708742753873831876839828807801771779789786845893868
Operating income4956048976268021,026997950-1,2129231,0451,0507321,1341,2268528139491,2791,444
Operating margin8%9%14%9%10%12%12%11%-14%11%12%12%9%14%14%10%10%11%14%15%
Interest expense26.017.034.061.087.087.099.097.092.089.010983.089.077.087.083.082.076.080.081.0
Pre-tax income5145788556087781,029949878-1,2302,2219771,0436621,1171,2258307919341,2931,420
Tax rate22%27%17%33%17%22%22%21%n/a9%23%19%33%24%24%33%22%27%25%18%
Net income394418702400631790720656-1,4311,9937268094188248905365936549321,140
Net margin7%7%11%5%8%9%8%8%-17%24%8%10%5%10%10%6%7%8%10%12%
Diluted EPS$2.75$2.92$4.94$2.82$4.43$5.55$5.05$4.59-$10.01$14.03$5.26$5.86$3.02$5.96$6.43$3.86$4.27$4.71$6.73$8.25
Operating cash flow7321645993828174954831,5291,459276-8516401,422-3.07851,3051,5343091,4991,405
Capital expenditure372104147202463193221280519169240259540162231298544189249303
Free cash flow36060.04521803543022621,249940107-1,091381882-1655541,0079901201,2501,102
Buybacks17431136.023.04.00.00.00.00.0n/an/an/an/a0.00.00.0n/a243225359
Dividends paid208207204222222222223238238239230250250251251276277276276302
Shares outstanding142m141m141m141m141m142m142m142m142m137m137m137m137m138m138m138m138m138m138m137m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2007FY2008FY2009FY2010FY2011FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Revenue13,04814,34210,80013,22618,04817,33417,30119,22119,11017,50920,42823,77123,57119,81124,02128,07434,06534,10233,67035,829
Cost of revenue10,49211,4028,63110,05813,45912,91813,02114,36014,16313,05715,33818,03417,59114,91718,32621,35525,81625,66325,15426,555
Gross profit2,5562,9402,1693,1684,5894,4164,2804,8614,9474,4525,0905,7375,9804,8945,6956,7198,2498,4398,5169,274
Gross margin19.6%20.5%20.1%24.0%25.4%25.5%24.7%25.3%25.9%25.4%24.9%24.1%25.4%24.7%23.7%23.9%24.2%24.7%25.3%25.9%
Research and development3294223624146297287137547356367549021,0019061,0901,2781,5001,4631,3961,493
Selling, general and administrative1,2961,4501,2391,4871,8371,8081,8172,0952,0922,0992,4292,4372,4542,1252,3742,6873,3333,2753,1253,392
Operating income1,1581,2726821,6022,6812,2542,1012,3652,0571,8802,3342,7862,7002,2692,7062,9291,7613,7504,0254,485
Operating margin8.9%8.9%6.3%12.1%14.9%13.0%12.1%12.3%10.8%10.7%11.4%11.7%11.5%11.5%11.3%10.4%5.2%11.0%12.0%12.5%
Interest expense58.042.035.040.044.032.041.064.065.069.081.0114109100111199375370329319
Pre-tax incomen/an/a6401,6172,6712,2712,1192,4342,0251,9302,3652,7532,8342,3382,7512,8191,6264,9033,9634,438
Income tax3813601564777255335316985554741,3715665665275876367868351,0061,001
Effective tax raten/an/a24.4%29.5%27.1%23.5%25.1%28.7%27.4%24.6%58.0%20.6%20.0%22.5%21.3%22.6%48.3%17.0%25.4%22.6%
Net income7397554281,0401,8481,6451,4831,6511,3991,3949992,1412,2601,7892,1312,1517353,9462,8433,319
Net margin5.7%5.3%4.0%7.9%10.2%9.5%8.6%8.6%7.3%8.0%4.9%9.0%9.6%9.0%8.9%7.7%2.2%11.6%8.4%9.3%
Diluted EPS$3.70$3.84$2.16$5.28$9.55$8.67$7.91$9.02$7.84$8.23$5.97$13.15$14.48$12.01$14.61$15.12$5.15$28.37$20.50$23.96
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by region FY2009 to FY2025

FY2009FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
United States5,1414,8177,3548,1078,38210,05810,7579,47611,01013,21813,51910,60512,48915,83319,30219,42218,97456.4%
OTHER INTERNATIONALn/an/an/an/an/an/a6,9025,8686,4767,2646,8735,6947,2308,4599,9709,9539,67728.7%
China6301,2061,4521,056n/an/a1,4511,5442,1372,3242,3312,8323,1692,3903,1152,9483,2989.8%
India592808859757n/an/an/a6218059658486801,1331,3921,6781,7791,7215.1%
Brazil5961,0141,286798n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Canada327506653642n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Mexico240415631692n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Other foreign countries2,8683,8985,0864,6228,9199,163n/an/an/an/an/an/an/an/an/an/an/an/a
United Kingdom406562727660n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
United StatesOTHER INTERNATIONAL FY2015 to FY2025China FY2009 to FY2025India FY2009 to FY2025Other foreign countries FY2009 to FY2014Brazil FY2009 to FY2012United Kingdom FY2009 to FY2012Canada FY2009 to FY2012Mexico FY2009 to FY2012
13.2FY201017.3FY201317.5FY201623.6FY201928.1FY202233.7FY2025

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow

FY2007FY2008FY2009FY2010FY2011FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Operating cash flow8109871,1371,0062,0731,5322,0892,2662,0651,9392,2772,3783,1812,7222,2561,9623,9661,4873,6214,747
Capital expenditure3535433103646226906767437445315067097005287349161,2131,2081,2351,285
Free cash flow4574448276421,4518421,4131,5231,3211,4081,7711,6692,4812,1941,5221,0462,7532792,3863,462
Free cash flow margin3.5%3.1%7.7%4.9%8.0%4.9%8.2%7.9%6.9%8.0%8.7%7.0%10.5%11.1%6.3%3.7%8.1%0.8%7.1%9.7%
Cash from investing-515-848-509-651n/an/an/a-1,234-918-917-1,052-974-1,150-719-873-4,172-1,643-1,782-1,731-1,548
Cash from financing-576-237-141-267n/an/an/a-1,343-1,650-1,413-1,074-1,400-2,095280-2,2271,669-2,177-173-772-2,202
Depreciation and amortisation2903143263203253614074555145305836116726736627841,0241,0651,1051,131
Share-based compensation28.028.020.022.042.036.037.036.024.032.041.053.049.031.037.033.079.010093.0n/a
Buybacks33512820.02416292563816709007784511,1401,2716411,4023740.00.0n/an/a
Dividends paid89.01221411722553404205126226767017187617828098559219691,0551,131
Dividend per sharen/an/an/an/an/an/an/an/an/an/a$4.21$4.44$4.90$5.28$5.60$6.04$6.50$7.00$7.64$8.20
Diluted shares, weightedn/a197m198m197m194m190m187m183m178m169m167m163m156m149m146m142m143m139m139m138m
Shares outstanding at period endn/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a137m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2007FY2008FY2009FY2010FY2011FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity3,7023,2343,7734,6705,4926,6037,5107,7497,4066,8757,2597,3487,5078,0628,1468,9758,85010,27112,34913,331
Non-controlling interestn/a2462473263393713603443442999059119589278899921,0541,0371,0591,015
Redeemable equityn/an/an/an/an/an/an/an/an/an/an/an/an/an/a3662580.0n/an/an/a
Short-term borrowingsn/a39.037.0n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Debtn/a6295617917837751,7401,6861,6391,8562,0062,4762,3674,1644,1597,8556,6967,0597,5527,519
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/a0.0370325326368374409424459
Other liabilitiesn/a4,3714,1984,6155,0544,7995,1185,9975,7455,9817,9058,3278,5359,1469,82411,85115,03112,76412,60814,262
Total liabilities and equityn/a8,5198,81610,40211,66812,54814,72815,77615,13415,01118,07519,06219,73722,62423,71030,29932,00531,54033,99236,586
Owned
Fixed assetsn/a1,8411,8862,0412,2882,7243,1563,6863,7453,8003,9274,0964,2454,2554,4225,5216,2496,3566,9587,114
Goodwilln/a3623643673394454614794824801,0821,1261,2861,2931,2872,3432,4992,3702,2242,221
Intangible assetsn/a2232282222273693573433283329739091,0039639002,6872,5192,3512,1672,012
Investmentsn/a77.0190n/an/an/an/an/an/an/a198222341461595472562593764614
Securities held for sale or to maturityn/an/an/an/a87.049.055.084.090.0248n/an/an/an/an/an/an/an/an/an/a
Cash and equivalents5774269301,0231,4841,3692,6992,3011,7111,1201,3691,3031,1293,4012,5922,1012,1791,6712,8453,571
Inventoryn/a1,7831,3411,9772,1412,2212,3812,8662,7072,6753,1663,7593,4863,4254,3555,6035,6775,7425,8226,811
Other assetsn/a3,8073,8774,7725,1025,3715,6196,0176,0716,3567,3607,6478,2478,8269,55911,57212,32012,45713,21214,243
Total assetsn/a8,5198,81610,40211,66812,54814,72815,77615,13415,01118,07519,06219,73722,62423,71030,29932,00531,54033,99236,586
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded5.8%11.2%6.2%6.7%
Profit growth, compounded7.3%9.7%9.7%24.4%
Return on equity, average23.5%24.0%23.2%23.0%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Cummins' revenue in fiscal 2025?

Cummins (CMI) reported revenue of $33.7 billion for fiscal 2025, the year ended 31 December 2025, down 1.3% on the year before.

How much did Cummins earn in fiscal 2025?

Net income was $2.8 billion for fiscal 2025, and diluted earnings per share $20.50.

What is Cummins' P/E ratio?

At the close of 6 November 2026, Cummins traded at 18.8 times its earnings over the twelve months to 30 September 2026.

What is Cummins' market cap?

The market cap of Cummins was $61.7 billion at the close of 6 November 2026.

Does Cummins pay a dividend?

Yes. Cummins declared $8.20 a share in dividends over the four quarters to 30 September 2026.

Peers: Machinery

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Eaton Corp. plc ETN$132.8 billion34.1418.6%n/a20.1%0.961.3%
Johnson Controls International plc JCI$81.8 billion23.4726.5%n/a6.8%0.701.2%
Illinois Tool Works Inc. ITW$79.9 billion25.04102.7%26.6%4.8%2.982.3%
Cummins Inc. CMI$61.7 billion18.7924.9%12.5%6.7%0.561.8%
Baker Hughes Co. BKR$47.5 billion16.5014.4%n/a3.7%0.91n/a
Carrier Global Corp. CARR$42.8 billionn/a-17.3%-4.8%3.3%1.101.3%
Ingersoll Rand Inc. IR$31.9 billion23.3713.2%22.9%8.0%0.45n/a
Dover Corp. DOV$27.1 billion23.8915.3%17.0%8.2%0.431.0%
TechnipFMC plc FTI$24.8 billion19.9838.6%16.8%9.1%0.120.3%
BWX Technologies, Inc. BWXT$11.0 billion29.3026.4%12.4%17.7%1.430.9%
Brunswick Corp. BC$5.0 billion23.6312.5%5.7%10.4%1.182.3%
Power Solutions International, Inc. PSIX$903 million12.8330.1%14.9%-0.2%0.16n/a
All 85 in Machinery
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
ASML Holding N.V. ASML *$549.0 billion51.6449.0%34.6%15.6%0.220.5%
Caterpillar Inc. CAT$255.6 billion21.9255.1%18.3%20.3%2.101.1%
Lam Research Corp. LRCX$250.2 billion29.8660.8%37.0%33.4%0.270.6%
Deere & Co. DE$181.2 billion37.3317.4%13.4%8.0%2.281.0%
Eaton Corp. plc ETN$132.8 billion34.1418.6%n/a20.1%0.961.3%
Johnson Controls International plc JCI$81.8 billion23.4726.5%n/a6.8%0.701.2%
Illinois Tool Works Inc. ITW$79.9 billion25.04102.7%26.6%4.8%2.982.3%
Cummins Inc. CMI$61.7 billion18.7924.9%12.5%6.7%0.561.8%
Baker Hughes Co. BKR$47.5 billion16.5014.4%n/a3.7%0.91n/a
Carrier Global Corp. CARR$42.8 billionn/a-17.3%-4.8%3.3%1.101.3%
Ingersoll Rand Inc. IR$31.9 billion23.3713.2%22.9%8.0%0.45n/a
Dover Corp. DOV$27.1 billion23.8915.3%17.0%8.2%0.431.0%
TechnipFMC plc FTI$24.8 billion19.9838.6%16.8%9.1%0.120.3%
Xylem Inc. XYL$22.4 billion21.6510.5%15.1%1.9%0.281.7%
Symbotic Inc. SYM$22.2 billion409.171.8%0.9%20.6%0.00n/a
ITT Inc. ITT$18.3 billion42.308.8%14.0%35.8%0.740.7%
Nordson Corp. NDSN$17.3 billion31.3417.0%26.9%7.0%0.531.1%
nVent Electric plc NVT$17.2 billion25.6016.5%17.8%48.0%0.530.8%
Curtiss Wright Corp. CW$16.9 billion30.9021.7%18.9%10.7%0.370.2%
Idex Corp. IEX$16.7 billion31.5413.3%20.9%6.9%0.441.3%
RBC Bearings Inc. RBC$15.6 billion42.4610.0%24.4%17.4%0.20n/a
Zebra Technologies Corp. ZBRA$15.2 billion25.9816.9%14.9%16.9%0.72n/a
Lincoln Electric Holdings Inc. LECO$14.9 billion26.4137.0%17.3%11.1%0.741.1%
CNH Industrial N.V. CNH$14.3 billion46.224.0%n/a0.6%3.332.2%
Lennox International Inc. LII$11.7 billion15.8756.9%18.8%1.9%1.231.5%
Regal Rexnord Corp. RRX$11.3 billion48.883.4%10.0%4.7%0.650.8%
BWX Technologies, Inc. BWXT$11.0 billion29.3026.4%12.4%17.7%1.430.9%
Graco Inc. GGG$10.9 billion21.8221.0%26.8%5.4%0.051.7%
Pentair plc PNR$10.9 billion18.0715.9%19.6%-3.9%0.381.6%
Moog Inc. MOG.A$10.3 billion27.5517.0%13.3%15.6%0.410.4%
Flowserve Corp. FLS$10.2 billion40.3811.0%10.0%0.2%0.891.1%
Toro Co. TTC$9.9 billion28.0327.2%10.3%5.2%0.721.5%
Donaldson Co. Inc. DCI$9.8 billion21.9025.7%15.4%5.3%0.751.4%
Agco Corp. AGCO$7.6 billion28.416.9%5.6%0.9%0.661.1%
Zurn Elkay Water Solutions Corp. ZWS$7.2 billion25.4217.2%22.1%10.1%0.301.0%
SPX Technologies, Inc. SPXC$7.1 billion24.1812.2%16.1%20.2%0.55n/a
Timken Co. TKR$7.0 billion25.258.9%11.0%5.9%0.611.4%
JBT Marel Corp. JBTM$6.6 billion34.224.4%7.3%20.3%0.380.3%
NOV Inc. NOV$6.3 billion43.912.3%5.5%-1.0%0.272.0%
Middleby Corp. MIDD$6.2 billionn/a-21.3%16.5%8.4%0.90n/a
Weatherford International plc WFRD$6.1 billion15.0620.7%12.4%-5.7%0.761.3%
Gates Industrial Corp. Ltd. GTES$6.1 billion16.7410.4%13.5%4.0%0.62n/a
Esab Corp. ESAB$5.1 billion33.536.1%11.2%11.0%0.910.5%
Brunswick Corp. BC$5.0 billion23.6312.5%5.7%10.4%1.182.3%
Aaon, Inc. AAON$4.7 billion29.7915.8%11.0%53.5%0.430.7%
Cactus, Inc. WHD$4.7 billion40.3714.1%18.8%40.4%0.001.0%
Solaris Energy Infrastructure, Inc. SEI$4.6 billion60.165.9%22.8%73.8%2.040.8%
Alliance Laundry Holdings Inc. ALH$4.5 billion24.8535.6%19.1%n/an/a0.0%
Kadant Inc. KAI$3.5 billion31.5210.7%15.0%12.5%0.500.5%
Hayward Holdings, Inc. HAYW$3.4 billion20.8310.7%21.6%7.6%0.600.0%
ACM Research, Inc. ACMR$3.3 billion27.876.1%14.5%29.1%0.18n/a
Axcelis Technologies Inc. ACLS$3.1 billion29.549.4%10.3%4.3%0.00n/a
Standex International Corp. SXI$2.8 billion24.3414.6%22.5%8.3%0.670.6%
Ouster, Inc. OUST$2.5 billionn/a-8.2%-25.6%63.7%0.00n/a
Dnow Inc. DNOW$2.4 billionn/a-8.8%-3.9%96.8%0.18n/a
Veeco Instruments Inc. VECO$2.3 billion92.962.8%3.0%6.6%0.25n/a
Enerpac Tool Group Corp. EPAC$2.0 billion22.5819.8%19.8%5.7%0.400.1%
Cricut, Inc. CRCT$1.8 billion19.0723.8%16.7%-0.9%0.002.3%
Flowco Holdings Inc. FLOC$1.8 billion18.2210.5%18.6%20.4%0.670.4%
Gorman Rupp Co. GRC$1.8 billion24.1216.0%16.1%6.5%0.54n/a
Kennametal Inc. KMT$1.8 billion3.0332.4%31.0%32.5%0.623.5%
Innovex International, Inc. INVX$1.8 billion36.394.4%6.9%7.0%0.02n/a
Azenta, Inc. AZTA$1.7 billionn/a-8.1%-28.6%4.8%0.00n/a
Alamo Group Inc. ALG$1.6 billion20.876.5%6.9%1.8%0.201.0%
Tennant Co. TNC$1.2 billion53.354.2%3.9%-0.4%0.651.7%
Lindsay Corp. LNN$1.1 billion19.9511.0%10.5%-6.0%0.231.4%
Graham Corp. GHM$915 million67.776.7%6.0%16.2%0.00n/a
Power Solutions International, Inc. PSIX$903 million12.8330.1%14.9%-0.2%0.16n/a
Aebi Schmidt Holding AG AEBI$864 million35.062.6%4.5%79.4%0.751.5%
Douglas Dynamics, Inc. PLOW$839 million13.1720.8%12.7%22.8%0.333.3%
Astec Industries Inc. ASTE$824 million71.501.7%3.1%13.8%0.551.5%
Manitowoc Co. Inc. MTW$807 million31.493.7%3.6%10.2%0.67n/a
Forum Energy Technologies, Inc. FET$800 million27.469.5%7.4%10.6%0.40n/a
Columbus McKinnon Corp. CMCO$510 millionn/a-25.9%-6.8%80.7%1.801.6%
Oil States International, Inc. OIS$499 millionn/a-18.4%-14.0%-0.7%0.03n/a
Energy Recovery, Inc. ERII$364 million79.333.1%0.8%-26.2%0.00n/a
Twin Disc Inc. TWIN$331 million10.5914.1%5.2%12.1%0.180.7%
Gencor Industries Inc. GENC$250 million16.886.6%11.7%-6.4%0.00n/a
Taylor Devices, Inc. TAYD$244 millionn/a9.3%13.2%-12.5%0.00n/a
Perma-Pipe International Holdings, Inc. PPIH$234 million15.0016.7%12.1%24.8%0.39n/a
NN Inc. NNBR$225 millionn/a-25.3%-3.1%13.9%1.63n/a
Serve Robotics Inc. SERV$203 millionn/a-67.7%-2,207.0%410.9%0.00n/a
Amtech Systems Inc. ASYS$200 million43.963.5%8.1%-2.4%0.00n/a
Ampco Pittsburgh Corp. AP$122 millionn/a-190.4%-11.1%3.3%4.42n/a
Sono TEK Corp. SOTK$68 million35.929.5%10.2%4.4%0.00n/a
3 companies share its SEC industry code (Engines & Turbines); the rest are the names nearest in size in its wider industry, Machinery, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on CMI

Dividends$8.20 a share over the four quarters to 30 September 2026, a 1.82% yield
Filings15 in twelve months: 5 current reports (8-K), about 4 results of operations; 1 shareholder vote
Planned insider sales17 Form 144 notices in twelve months, $31.5 million; latest 3 September 2026
Options tapeput/call 0.81 by open interest at the 6 November 2026 close; the straddle prices a 7.0% move to 20 November 2026
13F holders2,115 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading57 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest4.5 million shares short, 3.96 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 20265 November 2026EDGAR
10-Q30 June 20264 August 2026EDGAR
10-Q31 March 20265 May 2026EDGAR
10-K31 December 202510 February 2026EDGAR
10-Q30 September 20256 November 2025EDGAR
10-Q30 June 20255 August 2025EDGAR
10-Q31 March 20255 May 2025EDGAR
10-K31 December 202411 February 2025EDGAR
10-Q30 September 20245 November 2024EDGAR
10-Q30 June 20241 August 2024EDGAR

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