Cummins Inc
NYSE: CMI · INDUSTRIALS · SPECIALTY INDUSTRIAL MACHINERY
Updated 2026-06-05
Cummins Inc (CMI) Financial statements
SEC filings — annual and quarterly data.
Margin trends — annual
| Year | Revenue | Net income | Gross margin | Op. margin | Profit margin |
|---|---|---|---|---|---|
| 2006 | $11.36B | $715.00M | 22.84% | 9.95% | 6.29% |
| 2007 | $13.05B | $739.00M | 19.59% | 8.87% | 5.66% |
| 2008 | $14.34B | $755.00M | 20.50% | 8.87% | 5.26% |
| 2009 | $10.80B | $428.00M | 20.08% | 6.31% | 3.96% |
| 2010 | $13.23B | $1.04B | 23.95% | 12.11% | 7.86% |
| 2011 | $18.05B | $1.85B | 25.43% | 14.85% | 10.24% |
| 2012 | $17.33B | $1.65B | 25.48% | 13.00% | 9.49% |
| 2013 | $17.30B | $1.48B | 24.74% | 12.14% | 8.57% |
| 2014 | $19.22B | $1.65B | 25.29% | 12.30% | 8.59% |
| 2015 | $19.11B | $1.40B | 25.89% | 10.76% | 7.32% |
| 2016 | $17.51B | $1.39B | 25.46% | 10.74% | 7.96% |
| 2017 | $20.43B | $999.00M | 24.97% | 11.43% | 4.89% |
| 2018 | $23.77B | $2.14B | 24.13% | 11.72% | 9.01% |
| 2019 | $23.57B | $2.26B | 25.37% | 11.45% | 9.59% |
| 2020 | $19.81B | $1.79B | 24.70% | 11.45% | 9.03% |
| 2021 | $24.02B | $2.13B | 23.71% | 11.27% | 8.87% |
| 2022 | $28.07B | $2.15B | 23.93% | 10.43% | 7.66% |
| 2023 | $34.06B | $735.00M | 24.22% | 5.17% | 2.16% |
| 2024 | $34.10B | $3.95B | 24.75% | 11.00% | 11.57% |
| 2025 | $33.67B | $2.84B | 25.29% | 11.48% | 8.44% |
Frequently asked questions
What is Cummins Inc's revenue?
Cummins Inc's trailing twelve-month revenue is $33.89B, and consensus projects about $50.10B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is CMI?
In its most recent fiscal year, CMI ran a gross margin of 25.29%, an operating margin of 11.48%, and a net margin of 8.44%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does CMI generate?
CMI produced $2.39B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is CMI's balance sheet healthy?
CMI holds $2.85B in cash and equivalents against $6.79B in long-term debt, on $12.35B of shareholder equity. That debt is best read against the cash flow the business throws off each year.