CMI
$542.08+1.09%
as of close, Oct 21, 2026
☾ AH $542.08 +1.09%
CMI financial statements
The full income statement, balance sheet, and cash-flow statement for Cummins Inc. (CMI), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 137.0M2024-09 137.2M2024-12 137.5M2025-03 137.8M2025-06 137.8M2025-09 138.0M2025-12 138.2M2026-03 138.0M2026-06 137.7M+0.5% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 33.7B-1.3% | 34.1B+0.1% | 34.1B+21.3% | 28.1B+16.9% | 24.0B+21.3% | |
| 8.52B+0.9% | 8.44B+2.3% | 8.25B+22.8% | 6.72B+18.0% | 5.70B+16.4% | ||
| Cost of revenue | 25.2B-2.0% | 25.7B-0.6% | 25.8B+20.9% | 21.4B+16.5% | 18.3B+22.9% | |
| Research & development | 1.40B-4.6% | 1.46B-2.5% | 1.50B+17.4% | 1.28B+17.2% | 1.09B+20.3% | |
| Selling, general & administrative | 3.13B-4.6% | 3.27B-1.7% | 3.33B+24.0% | 2.69B+13.2% | 2.37B+11.7% | |
| Restructuring | — | — | — | — | -1.00M+99.1% | |
| Amortization of intangibles | 323M-0.3% | 324M+0.0% | 324M+45.3% | 223M+54.9% | 144M-12.7% | |
| Operating income | 4.03B+7.3% | 3.75B+112.9% | 1.76B-39.9% | 2.93B+8.2% | 2.71B+19.3% | |
| Interest expense | 329M-11.1% | 370M-1.3% | 375M+88.4% | 199M+79.3% | 111M+11.0% | |
| Other non-operating income | 267M-82.5% | 1.52B+534.6% | 240M+169.7% | 89.0M-42.9% | 156M-7.7% | |
| Equity-method income | 469M+18.7% | 395M-18.2% | 483M+38.4% | 349M-31.0% | 506M+11.9% | |
| Gain (loss) on equity securities | 14.0M+600.0% | 2.00M-66.7% | 6.00M+400.0% | -2.00M-116.7% | 12.0M+20.0% | |
| Pre-tax income | 3.96B-19.2% | 4.90B+201.5% | 1.63B-42.3% | 2.82B+2.5% | 2.75B+17.7% | |
| Income tax | 1.01B+20.5% | 835M+6.2% | 786M+23.6% | 636M+8.3% | 587M+11.4% | |
| 2.84B-30.1% | 4.07B+384.3% | 840M-61.5% | 2.18B+0.9% | 2.16B+19.5% | ||
| Net income to non-controlling interest | 114M-6.6% | 122M+16.2% | 105M+228.1% | 32.0M-3.0% | 33.0M+50.0% | |
| Net income to common | 2.84B-28.0% | 3.95B+436.9% | 735M-65.8% | 2.15B+0.9% | 2.13B+19.1% | |
| $20.50-27.7% | $28.37+450.9% | $5.15-65.9% | $15.12+3.5% | $14.61+21.6% | ||
| EPS (basic) | $20.62-27.8% | $28.55+450.1% | $5.19-65.9% | $15.20+3.1% | $14.74+22.1% | |
| Weighted-avg shares (basic) | 138M-0.2% | 138M-2.5% | 142M+0.1% | 142M-2.1% | 145M-2.4% | |
| Weighted-avg shares (diluted) | 139M-0.3% | 139M-2.5% | 143M+0.3% | 142M-2.5% | 146M-2.1% | |
| Dividends per share | $7.64+9.1% | $7.00+7.7% | $6.50+7.6% | $6.04+7.9% | $5.60+6.1% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 16.9B+14.7% | 14.8B-2.9% | 15.2B+5.2% | 14.5B+17.4% | 12.3B+3.5% | ||
| Cash & equivalents | 2.85B+70.3% | 1.67B-23.3% | 2.18B+7.9% | 2.02B-22.1% | 2.59B-23.8% | |
| Short-term investments | 764M+28.8% | 593M+5.5% | 562M+19.1% | 472M-20.7% | 595M+29.1% | |
| Cash & short-term investments | 3.61B+59.4% | 2.26B-17.4% | 2.74B+6.5% | 2.57B-19.3% | 3.19B-17.5% | |
| Inventory | 5.82B+1.4% | 5.74B+1.1% | 5.68B+1.3% | 5.60B+28.7% | 4.36B+27.2% | |
| Prepaid expenses | 1.68B+7.1% | 1.56B+30.7% | 1.20B+11.6% | 1.07B+38.1% | 777M-1.6% | |
| 34.0B+7.8% | 31.5B-1.5% | 32.0B+5.6% | 30.3B+27.8% | 23.7B+4.8% | ||
| Property, plant & equipment | 6.96B+9.5% | 6.36B+1.7% | 6.25B+13.2% | 5.52B+24.9% | 4.42B+3.9% | |
| Operating lease right-of-use | 537M+0.9% | 532M+6.2% | 501M+1.8% | 492M+10.8% | 444M+1.4% | |
| Goodwill | 2.22B-6.2% | 2.37B-5.2% | 2.50B+6.7% | 2.34B+82.1% | 1.29B-0.5% | |
| Intangible assets | 2.17B-7.8% | 2.35B-6.7% | 2.52B-6.3% | 2.69B+198.6% | 900M-6.5% | |
| Other non-current assets | 2.55B-3.1% | 2.63B+3.5% | 2.54B+18.8% | 2.14B+21.2% | 1.77B+1.9% | |
| 9.61B-14.5% | 11.2B-12.9% | 12.9B+13.0% | 11.4B+61.2% | 7.08B+11.8% | ||
| Accounts payable | 3.80B-3.8% | 3.95B-7.3% | 4.26B+0.2% | 4.25B+40.7% | 3.02B+7.1% | |
| Accrued liabilities | 1.93B+1.5% | 1.90B-49.4% | 3.75B+156.2% | 1.47B+23.1% | 1.19B+7.0% | |
| Deferred revenue | 1.61B+19.2% | 1.35B+10.4% | 1.22B+21.5% | 1.00B+17.4% | 855M+23.7% | |
| Short-term & current debt | 94.0M-85.8% | 660M+459.3% | 118M-79.4% | 573M+871.2% | 59.0M-4.8% | |
| Current lease liability | 138M+6.2% | 130M-5.8% | 138M+4.5% | 132M+3.1% | 128M+0.0% | |
| 20.6B+1.7% | 20.2B-8.5% | 22.1B+10.1% | 20.1B+40.3% | 14.3B+4.9% | ||
| Long-term debt | 6.79B+42.0% | 4.78B-0.4% | 4.80B+6.8% | 4.50B+25.7% | 3.58B-0.9% | |
| Deferred revenue (non-current) | 1.05B-1.0% | 1.06B+10.2% | 966M+14.5% | 844M-0.7% | 850M+1.2% | |
| Non-current lease liability | 424M+3.7% | 409M+9.4% | 374M+1.6% | 368M+12.9% | 326M+0.3% | |
| Operating lease liability (total) | 562M+4.3% | 539M+5.3% | 512M+2.4% | 500M+10.1% | 454M+0.2% | |
| Finance lease liability (total) | 136M+8.8% | 125M+12.6% | 111M-1.8% | 113M+27.0% | 89.0M-2.2% | |
| Other non-current liabilities | 3.13B-0.7% | 3.15B-8.2% | 3.43B+3.6% | 3.31B+18.4% | 2.80B+80.6% | |
| 12.3B+20.2% | 10.3B+16.1% | 8.85B-1.4% | 8.97B+10.2% | 8.15B+1.0% | ||
| Retained earnings | 22.6B+8.6% | 20.8B+16.7% | 17.9B-1.0% | 18.0B+7.7% | 16.7B+8.6% | |
| Treasury stock | 10.7B-0.8% | 10.7B+14.8% | 9.36B-0.6% | 9.41B+3.2% | 9.12B+17.3% | |
| Accumulated other comprehensive income | -2.28B+6.8% | -2.44B-10.8% | -2.21B-16.7% | -1.89B-20.3% | -1.57B+20.7% | |
| Non-controlling interest | 1.06B+2.1% | 1.04B-1.6% | 1.05B+6.3% | 992M+11.6% | 889M-4.1% | |
| Total equity incl. non-controlling | 13.4B+18.6% | 11.3B+14.2% | 9.90B-0.6% | 9.97B+10.3% | 9.04B+3.8% | |
| Total liabilities & equity | 34.0B+7.8% | 31.5B-1.5% | 32.0B+5.6% | 30.3B+27.8% | 23.7B+4.8% | |
| Common shares issued | 223M+0.0% | 223M+0.0% | 223M+0.0% | 223M+0.0% | 223M+0.0% | |
| Shares outstanding (cover) | 138M+0.5% | 137M-3.1% | 142M+0.3% | 141M-0.7% | 142M-3.5% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 3.62B+143.5% | 1.49B-62.5% | 3.97B+102.1% | 1.96B-13.0% | 2.26B-17.1% | ||
| Depreciation & amortization | 1.10B+3.8% | 1.06B+4.0% | 1.02B+30.6% | 784M+18.4% | 662M-1.6% | |
| Intangible amortization | 323M-0.3% | 324M+0.0% | 324M+45.3% | 223M+54.9% | 144M-12.7% | |
| Share-based compensation | — | — | — | — | 37.0M+19.4% | |
| Deferred income taxes | 86.0M+141.1% | -209M+54.3% | -457M-66.8% | -274M-4014.3% | 7.00M+0.0% | |
| Change in inventory | 39.0M-90.3% | 402M | 0.00-100.0% | 567M-40.0% | 945M+2154.3% | |
| Change in payables | -148M+19.1% | -183M-177.3% | -66.0M-112.3% | 538M+147.9% | 217M-24.7% | |
| Other operating activities | 365M+265.0% | 100M-71.3% | 348M+117.5% | 160M | — | |
| -1.73B+2.9% | -1.78B-8.5% | -1.64B+60.6% | -4.17B-377.9% | -873M-21.4% | ||
| Capital expenditure | 1.24B+2.2% | 1.21B-0.4% | 1.21B+32.4% | 916M+24.8% | 734M+39.0% | |
| Free cash flow | 2.39B+755.2% | 279M-89.9% | 2.75B+163.2% | 1.05B-31.3% | 1.52B-30.6% | |
| Acquisitions | 12.0M-79.3% | 58.0M-80.1% | 292M-90.8% | 3.19B | 0.00 | |
| Other investing activities | 111M+26.1% | 88.0M+14.3% | 77.0M-13.5% | 89.0M+1383.3% | 6.00M-91.0% | |
| -772M-346.2% | -173M+92.1% | -2.18B-230.4% | 1.67B+174.9% | -2.23B-895.4% | ||
| Long-term debt issued | 2.33B-14.2% | 2.72B+215.9% | 861M-59.1% | 2.10B+2562.0% | 79.0M-96.1% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00-100.0% | 56.0M-36.4% | |
| Common stock repurchased | 0.00 | 0.00 | 0.00-100.0% | 374M-73.3% | 1.40B+118.7% | |
| Dividends paid | 1.05B+8.9% | 969M+5.2% | 921M+7.7% | 855M+5.7% | 809M+3.5% | |
| Other financing activities | -61.0M+11.6% | -69.0M-155.6% | -27.0M-132.1% | 84.0M+800.0% | -12.0M-112.1% | |
| FX effect on cash | 56.0M+240.0% | -40.0M+41.2% | -68.0M-236.0% | 50.0M+42.9% | 35.0M+418.2% | |
| Net change in cash | 1.17B+331.1% | -508M-751.3% | 78.0M+115.9% | -491M+39.3% | -809M-135.6% | |
| Interest paid | 308M-7.8% | 334M-10.7% | 374M+103.3% | 184M+65.8% | 111M+26.1% | |
| Income taxes paid | 1.07B-8.6% | 1.18B-0.5% | 1.18B+30.8% | 903M+73.3% | 521M+20.6% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 70.5B+47.2% | 47.9B+41.1% | 34.0B-0.6% | 34.2B+10.0% | 31.1B-7.3% | |
| P/E | 24.8×+110.6% | 11.8×-0.2% | 11.8×-33.0% | 17.6×+22.7% | 14.4×-22.5% | |
| P/S | 2.1×+49.0% | 1.4×+37.8% | 1.0×-21.9% | 1.3×+1.0% | 1.3×-23.6% | |
| P/B | 5.7×+22.4% | 4.7×+46.5% | 3.2×-21.9% | 4.1×+6.9% | 3.8×-8.3% | |
| P/FCF | 29.6×-82.8% | 171.8×+996.2% | 15.7×-51.8% | 32.5×+59.1% | 20.4×+33.6% | |
| Earnings yield | 4.0%-52.5% | 8.5%+0.2% | 8.5%+49.3% | 5.7%-18.5% | 7.0%+29.0% | |
| FCF yield | 3.4%+481.1% | 0.58%-90.9% | 6.4%+107.3% | 3.1%-37.2% | 4.9%-25.1% | |
| Dividend yield | 1.5%-25.5% | 2.0%-26.0% | 2.7%+8.8% | 2.5%-2.9% | 2.6%+10.4% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: CMI’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all CMI filings on SEC EDGAR → Not investment advice.