What is Cummins's power systems — net assets?

Cummins (CMI) reported power systems — net assets of $2.7B in Q4 2025.

How has Cummins's power systems — net assets changed year-over-year?

Cummins's power systems — net assets increased by 14.7% year-over-year, from $2.35B to $2.7B.

What does power systems — net assets mean?

Calculated as the total assets of the Power Systems segment minus its total liabilities, representing the net capital employed in the segment. This metric indicates the scale of the business and the resources required to support its operations. It is essential for calculating return on invested capital (ROIC) at the segment level.

Cummins CMI Power Systems — Net assets

Other segment segments

Components

$6.82B+6.0%

Distribution

$3.6B+14.3%

Engine

$2.52B+21.4%

Accelera

$944M-23.5%

Similar metrics at other companies

ATMUPower Solutions — Segment assets

$1.14B-6.9%

NNBRPower Solutions — Total Assets

$129.04M+0.4%

AESIPower — Total Assets

$332.19M+21.0%

GEVPower — Total Assets

$28.51B—

PUMPPower Generation — Total Assets

$273.45M—

SEBPower — Total Assets

$441M+44.6%

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$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:AssetsNet.

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 power systems — net assets?: Cummins (CMI) reported power systems — net assets of $2.7B in Q4 2025.
How has Cummins's power systems — net assets changed year-over-year?: Cummins's power systems — net assets increased by 14.7% year-over-year, from $2.35B to $2.7B.
What does power systems — net assets mean?: Calculated as the total assets of the Power Systems segment minus its total liabilities, representing the net capital employed in the segment. This metric indicates the scale of the business and the resources required to support its operations. It is essential for calculating return on invested capital (ROIC) at the segment level.