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Cummins CMI EV / sales

EV / sales at other companies

Caterpillar logo
CaterpillarCAT
4.4×+1.3×
Generac Holdings logo
Generac HoldingsGNRC
2.9×+0.9×
Paccar logo
PaccarPCAR
+0.4×
Wabtec logo
WabtecWAB
4.3×+1.0×
TransDigm Group logo
TransDigm GroupTDG
9.8×-2.1×
Eaton Corporation logo
Eaton CorporationETN
+0.5×

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$98.92B+72.5%
Enterprise value$104.33B+66.2%
P/E35.5×+15.6×
P/S2.9×+1.2×

Profitability

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Gross margin25.4%+0.1pp
Operating margin11.3%-0.4pp
Net margin8.2%-0.3pp

Returns & leverage

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Return on equity23.9%-5.0pp
Debt / equity0.6×+0.1×
Current ratio1.7×+0.4×

Where this comes from

Calculated from Cummins’s reported figures.

Based on the most recent quarter.

The official record: Cummins’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Cummins's EV / sales?
Cummins (CMI) reported EV / sales of 2.4× in Q1 2026.
How has Cummins's EV / sales changed year-over-year?
Cummins's EV / sales increased by 66.1% year-over-year, from 1.4× to 2.4×.
What is the long-term trend for Cummins's EV / sales?
Over 4 years (2021 to 2025), Cummins's EV / sales has grown at a 3.3% compound annual growth rate (CAGR), from 6.2× to 7.1×.
What does EV / sales mean?
What the whole business costs relative to its annual sales.
How do you interpret EV / sales?
A fallback valuation gauge for pre-profit or cyclical firms. Like P/S, only comparable across similar-margin businesses, but it accounts for debt and cash unlike P/S.
How does EV / sales compare across companies?
Compare within a margin cohort; the debt-and-cash adjustment makes it cleaner than P/S for leveraged firms.