What is Cummins's engine — capex?

Cummins (CMI) reported engine — capex of $129.5M in Q4 2025.

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

Cummins's engine — capex decreased by 6.8% year-over-year, from $139M to $129.5M.

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

Over 3 years (2022 to 2025), Cummins's engine — capex has grown at a 12.1% compound annual growth rate (CAGR), from $368M to $518M.

What does engine — capex mean?

This represents the cash spent by the Engine segment to acquire, upgrade, or maintain physical assets such as property, plants, and equipment. It is a critical indicator of the segment's long-term investment strategy and capacity expansion plans.

Cummins CMI Engine — CapEx

Other segment segments

Components

$336M-0.9%

Power Systems

$222M+55.2%

Distribution

$127M+14.4%

Accelera

$32M-45.8%

Similar metrics at other companies

HWMEngine Products — CapEx

$59M-30.6%

SMP

SMPEngineered Solutions — CapEx

$1.63M-1.4%

PKOHEngineered Products — CapEx

$4.7M+51.6%

ACAEngineered Structures — CapEx

$11.1M+46.1%

AITEngineered Solutions — CapEx

$463K-47.5%

CSWEngineered Building Solutions — CapEx

$361K+206%

Other financials

Income statement

See full

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$91.71B+79.6%

Enterprise value$97.13B+69.8%

P/E32.9×+16.3×

P/S2.7×+1.2×

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

See full

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:SegmentExpenditureAdditionToLongLivedAssets.

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

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Questions, answered.

What is Cummins's engine — capex?: Cummins (CMI) reported engine — capex of $129.5M in Q4 2025.
How has Cummins's engine — capex changed year-over-year?: Cummins's engine — capex decreased by 6.8% year-over-year, from $139M to $129.5M.
What is the long-term trend for Cummins's engine — capex?: Over 3 years (2022 to 2025), Cummins's engine — capex has grown at a 12.1% compound annual growth rate (CAGR), from $368M to $518M.
What does engine — capex mean?: This represents the cash spent by the Engine segment to acquire, upgrade, or maintain physical assets such as property, plants, and equipment. It is a critical indicator of the segment's long-term investment strategy and capacity expansion plans.