Engine — Interest Income
Cummins Engine — Interest Income increased by 40.0% to $7.00M in Q1 2024 compared to the prior quarter. Year-over-year, this metric grew by 133.3%, from $3.00M to $7.00M. Over 2 years (FY 2021 to FY 2023), Engine — Interest Income shows an upward trend with a 54.1% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
An increase suggests higher cash balances or improved yields on segment-specific financial assets, while a decrease may indicate lower cash reserves or a reduction in interest rates earned on those balances.
Detailed definition
This metric represents the interest income generated specifically by the assets and cash balances allocated to the Engin...
Peer comparison
Most industrial peers report interest income at the corporate level, but segment-specific reporting is common for companies with decentralized treasury functions or significant captive finance operations.
cmi_segment_engine_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 | $3.00M | $1.00M | $4.00M | $1.00M | $3.00M | $6.00M | $3.00M | $7.00M | $4.00M | $5.00M | $7.00M |
| QoQ Change | — | +200.0% | -66.7% | +300.0% | -75.0% | +200.0% | +100.0% | -50.0% | +133.3% | -42.9% | +25.0% | +40.0% |
| YoY Change | — | — | — | — | +0.0% | +0.0% | +500.0% | -25.0% | +600.0% | +33.3% | -16.7% | +133.3% |
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Frequently Asked Questions
- What is Cummins's engine — interest income?
- Cummins (CMI) reported engine — interest income of $7.00M in Q1 2024.
- How has Cummins's engine — interest income changed year-over-year?
- Cummins's engine — interest income increased by 133.3% year-over-year, from $3.00M to $7.00M.
- What is the long-term trend for Cummins's engine — interest income?
- Over 2 years (2021 to 2023), Cummins's engine — interest income has grown at a 54.1% compound annual growth rate (CAGR), from $8.00M to $19.00M.
- What does engine — interest income mean?
- The interest income earned specifically from the cash and financial assets held within the Engine business segment.