What is Cummins's capex?

Cummins (CMI) reported capex of $189M in Q1 2026.

How has Cummins's capex changed year-over-year?

Cummins's capex increased by 16.7% year-over-year, from $162M to $189M.

What is the long-term trend for Cummins's capex?

Over 4 years (2021 to 2025), Cummins's capex has grown at a 13.9% compound annual growth rate (CAGR), from $734M to $1.24B.

What does capex mean?

Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

Cummins CMI CapEx

CapEx at other companies

CaterpillarCAT

$728M+2.5%

Donaldson CompanyDCI

$23.3M+42.9%

BorgWarnerBWA

$143M+20.2%

Allison Transmission HoldingsALSN

$53M+104%

Generac HoldingsGNRC

$29.4M-5.0%

Garrett Motion Inc.GTX

$29M+11.5%

Other financials

Income statement

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Revenue$8.4B+2.7%

Gross profit$2.2B+4.1%

Operating income$949.0M-16.3%

Net income$680.0M-20.0%

EPS (diluted)$4.71-21.0%

Balance sheet

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Cash & equivalents$2.6B+70.6%

Total debt$8.0B+25.0%

Total equity$12.4B+13.1%

Total assets$34.4B+5.9%

Cash flow

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Operating cash flow$309.0M+10,400%

Free cash flow$120.0M+173%

Valuation

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Market cap$100.4B+132%

Enterprise value$105.81B+120%

P/E36×+21.0×

P/S3×+1.7×

Profitability

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Gross margin25.4%+0.1pp

Operating margin11.3%-0.4pp

Net margin8.2%-0.3pp

FCF margin7.9%+7.9pp

Returns & leverage

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Return on equity23.9%-5.0pp

Debt / equity0.6×+0.1×

Current ratio1.7×+0.4×

Where this comes from

Reported directly by Cummins in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The official record: Cummins’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Cummins's capex?: Cummins (CMI) reported capex of $189M in Q1 2026.
How has Cummins's capex changed year-over-year?: Cummins's capex increased by 16.7% year-over-year, from $162M to $189M.
What is the long-term trend for Cummins's capex?: Over 4 years (2021 to 2025), Cummins's capex has grown at a 13.9% compound annual growth rate (CAGR), from $734M to $1.24B.
What does capex mean?: Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.