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Cummins CMI Power generation — Net Sales

Other product segments

Engine Components and Software [CBU business]
$1.2B+8.8%
Parts
$1.06B+3.6%
Drivetrain and braking systems
$918M-13.1%
Emission solutions
$807M+2.0%
Medium-duty truck and bus
$613M-12.4%
Heavy-duty truck
$563M-13.9%
Light-duty automotive
$448M+5.4%
Service
$433M+4.1%
Engines
$342M-7.6%
Off-highway
$342M+31.0%
Components and software
$325M+6.2%
Industrial
$293M+3.2%
Generator technologies
$160M+11.9%
Automated transmissions
$88M-24.8%
Atmus - Filtration (CBU business)
$0-100%

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GTESPower Transmission — Net Sales
$533.2M+1.1%
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$3.29B-0.3%
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$1.37B+23.3%
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CMCODigital power control and delivery systems — Net Sales
$30.68M+11.2%

Other financials

Income statement

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Revenue$9.5B+9.4%
Gross profit$2.5B+8.1%
Operating income$1.3B+4.3%
Net income$932.0M+0.4%
EPS (diluted)$6.73+4.7%

Balance sheet

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Cash & equivalents$3.2B+37.1%
Total debt$7.2B-15.0%
Total equity$12.8B+9.0%
Total assets$35.6B+4.0%

Cash flow

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Operating cash flow$1.5B+91.0%
CapEx$249.0M+7.8%
Free cash flow$1.3B+126%

Valuation

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Market cap$88.65B+68.6%
Enterprise value$92.67B+57.8%
P/E31.8×+14.6×
P/S2.6×+1.0×

Profitability

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Gross margin25.3%-0.3pp
Operating margin11.2%-1.1pp
Net margin8%-1.1pp
FCF margin9.7%+4.8pp

Returns & leverage

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Return on equity22.7%-6.1pp
Debt / equity0.6×-0.2×
Current ratio1.7×+0.1×

Where this comes from

Reported directly by Cummins in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Cummins’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 12:20 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000026172-26-000016
In millionsThree months ended / March 31, 2026Three months ended / March 31, 2025
Power generation$640$445
Industrial293284
Generator technologies160143
Total sales$1,093$872

Item 1. Condensed Consolidated Financial Statements (Unaudited)

FAQ

What is Cummins's power generation — net sales?
Cummins (CMI) reported power generation — net sales of $640M in Q1 2026.
How has Cummins's power generation — net sales changed year-over-year?
Cummins's power generation — net sales increased by 43.8% year-over-year, from $445M to $640M.
What is the long-term trend for Cummins's power generation — net sales?
Over 4 years (2021 to 2025), Cummins's power generation — net sales has grown at a 10.8% compound annual growth rate (CAGR), from $1.48B to $2.23B.
What does power generation — net sales mean?
This metric represents the total external revenue generated from the sale of power generation equipment, including standby and prime power generators. It reflects the market demand for reliable energy solutions across industrial, commercial, and residential sectors. As a key product line, it captures the company's ability to monetize its power systems technology independent of its core engine manufacturing business.

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