Components — Interest Income
Cummins Components — Interest Income decreased by 20.0% to $8.00M in Q1 2024 compared to the prior quarter. Year-over-year, this metric grew by 33.3%, from $6.00M to $8.00M. Over 2 years (FY 2021 to FY 2023), Components — Interest Income shows an upward trend with a 149.0% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
An increase suggests higher cash balances or improved yields on segment-allocated capital, while a decrease may indicate lower cash reserves or a reduction in interest-bearing financial assets.
Detailed definition
This metric represents the interest income generated specifically by the assets and financial activities within the Comp...
Peer comparison
Similar to 'Interest Income' reported in other industrial segments, this is often benchmarked against the segment's average cash balance and prevailing short-term interest rates.
cmi_segment_components_interest_incomeHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.00M | $1.00M | $2.00M | $1.00M | $2.00M | $4.00M | $5.00M | $6.00M | $7.00M | $8.00M | $10.00M | $8.00M |
| QoQ Change | — | +0.0% | +100.0% | -50.0% | +100.0% | +100.0% | +25.0% | +20.0% | +16.7% | +14.3% | +25.0% | -20.0% |
| YoY Change | — | — | — | — | +100.0% | +300.0% | +150.0% | +500.0% | +250.0% | +100.0% | +100.0% | +33.3% |
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Frequently Asked Questions
- What is Cummins's components — interest income?
- Cummins (CMI) reported components — interest income of $8.00M in Q1 2024.
- How has Cummins's components — interest income changed year-over-year?
- Cummins's components — interest income increased by 33.3% year-over-year, from $6.00M to $8.00M.
- What is the long-term trend for Cummins's components — interest income?
- Over 2 years (2021 to 2023), Cummins's components — interest income has grown at a 149.0% compound annual growth rate (CAGR), from $5.00M to $31.00M.
- What does components — interest income mean?
- The interest income earned specifically by the Components business segment from its cash and financial investments.