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Cummins CMI Q4 2025 Annual earnings

Reported February 5, 2026 · Before market open

Revenue$8.5BBeat by $426.9M
EPS$5.81Beat by $0.71
Revenue estimate$8.1B
EPS estimate$5.10

Next report

Nov 5, 2026 (in a month)
Revenue estimate$9.8B
EPS estimate$8.21

Financials

Q4 2025

Income statement

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Revenue$8.5B+1.1%
Gross profit$2.0B-4.1%
Operating income$813.0M+11.1%
Net income$620.0M+39.3%
EPS (diluted)$4.27+39.5%

Balance sheet

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Cash & equivalents$2.8B+70.3%
Total debt$7.9B+22.2%
Total equity$12.3B+20.2%
Total assets$34.0B+7.8%

Cash flow

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Operating cash flow$1.5B+7.9%
CapEx$544.0M+0.7%
Free cash flow$990.0M+12.2%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$70.46B+47.3%
Enterprise value$75.51B+43.5%
P/E23.8×+12.1×
P/S2.1×+0.7×

Profitability

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Gross margin25.3%+0.5pp
Operating margin12%+1.0pp
Net margin8.8%-3.1pp
FCF margin7.1%+6.3pp

Returns & leverage

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Return on equity26.1%-16.4pp
Debt / equity0.6×0.0×
Current ratio1.8×+0.4×

Segments

By product

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Parts$1.0B+4.2%
Drivetrain and braking systems$917.0M-17.6%
Emission solutions$764.0M+2.8%
Medium-duty truck and bus$638.0M-16.5%
Heavy-duty truck$623.0M-18.0%

By segment

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Distribution$3.3B+7.1%
Engine$2.6B-4.4%
Components$2.4B-7.4%
Power Systems$1.9B+10.7%
Accelera$131.0M+31.0%

By geography

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North America$2.2B+9.6%
Europe$321.0M-8.0%
Asia Pacific$319.0M+4.2%
Africa and Middle East$73.0M-1.4%
Latin America$62.0M-13.9%

FAQ

When did Cummins report Q4 2025 earnings?
Cummins (CMI) reported Q4 2025 earnings on February 5, 2026 before market open.
What were Cummins's Q4 2025 revenue and EPS?
Cummins reported revenue of $8.5B and eps of $5.81 for Q4 2025.
Did Cummins beat estimates in Q4 2025?
Revenue beat the consensus estimate of $8.1B by $426.9M. EPS beat the consensus estimate of $5.10 by $0.71.
How did Cummins's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 1.1% from $8.4B a year earlier and eps grew 12.6% from $5.16.
Where can I find Cummins's Q4 2025 SEC filings?
You can read the 8-K earnings release (0000026172-26-000004) and the 10-K periodic report (0000026172-26-000009) directly on SEC EDGAR. The filing index links above go to sec.gov.