What is Cummins's change in AP?

Cummins (CMI) reported change in AP of $629M in Q1 2026.

How has Cummins's change in AP changed year-over-year?

Cummins's change in AP increased by 90.6% year-over-year, from $330M to $629M.

What does change in AP mean?

Increase or decrease in amounts owed to suppliers — a key working capital component affecting operating cash flow.

Cummins CMI Change in AP

Change in AP at other companies

CaterpillarCAT

$938M+134%

Donaldson CompanyDCI

-$1.38M-107%

Allison Transmission HoldingsALSN

$154M+431%

Generac HoldingsGNRC

$40.09M+221%

Garrett Motion Inc.GTX

$48M+241%

HyliionHYLN

-$389K-620%

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%

CapEx$189.0M+16.7%

Free cash flow$120.0M+173%

Valuation

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Market cap$98.42B+104%

Enterprise value$103.83B+90.4%

P/E35.3×+19.6×

P/S2.9×+1.5×

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:IncreaseDecreaseInAccountsPayable.

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 change in AP?: Cummins (CMI) reported change in AP of $629M in Q1 2026.
How has Cummins's change in AP changed year-over-year?: Cummins's change in AP increased by 90.6% year-over-year, from $330M to $629M.
What does change in AP mean?: Increase or decrease in amounts owed to suppliers — a key working capital component affecting operating cash flow.