Cummins (CMI) FY2021 results: revenue $24.0 billion, up 21.3% on the year
Cummins Inc. (CMI) reported revenue of $24.0 billion for fiscal 2021, the year ended 31 December 2021, up 21.3% on the year before. Net income was $2.1 billion, up 19.1%, and diluted earnings per share $14.61. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2022.
Revenue
$24.0 billion
+21.3% on the year
FY2014FY2021
Operating margin
11.3%
11.5% a year earlier
FY2014FY2021
Net income
$2.1 billion
+19.1% on the year
FY2014FY2021
Diluted EPS
$14.61
+21.6% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. 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.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
2,256
2,722
3,181
-17.1%
Capital expenditure
734
528
700
+39.0%
Free cash flow
1,522
2,194
2,481
-30.6%
Free cash flow margin
6.3%
11.1%
10.5%
Cash from investing
-873
-719
-1,150
Cash from financing
-2,227
280
-2,095
Depreciation and amortisation
662
673
672
-1.6%
Share-based compensation
37.0
31.0
49.0
+19.4%
Buybacks
1,402
641
1,271
+118.7%
Dividends paid
809
782
761
+3.5%
Dividend per share
$5.60
$5.28
$4.90
+6.1%
Diluted shares, weighted
146m
149m
156m
-2.1%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
8,146
8,062
7,507
+1.0%
Non-controlling interest
889
927
958
-4.1%
Redeemable equity
366
n/a
n/a
Debt
4,159
4,164
2,367
-0.1%
Operating lease liabilities
326
325
370
+0.3%
Other liabilities
9,824
9,146
8,535
+7.4%
Total liabilities and equity
23,710
22,624
19,737
+4.8%
Fixed assets
4,422
4,255
4,245
+3.9%
Goodwill
1,287
1,293
1,286
-0.5%
Intangible assets
900
963
1,003
-6.5%
Investments
595
461
341
+29.1%
Cash and equivalents
2,592
3,401
1,129
-23.8%
Inventory
4,355
3,425
3,486
+27.2%
Other assets
9,559
8,826
8,247
+8.3%
Total assets
23,710
22,624
19,737
+4.8%
10-K for the year ended 31 December 2021, filed 8 February 2022: the filing.