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Cummins CMI Gross margin

Gross margin at other companies

Caterpillar logo
CaterpillarCAT
96.6%-4.4pp
Paccar logo
PaccarPCAR
19.9%-2.0pp
Wabtec logo
WabtecWAB
34.5%+1.6pp
TransDigm Group logo
TransDigm GroupTDG
59.6%+0.1pp
Eaton Corporation logo
Eaton CorporationETN
36.9%-1.6pp
Parker-Hannifin logo
Parker-HannifinPH
37.2%+0.7pp

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$99.05B+72.5%
Enterprise value$104.46B+66.2%
P/E35.5×+15.7×
P/S2.9×+1.2×

Profitability

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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 trailing twelve months.

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 gross margin?
Cummins (CMI) reported gross margin of 25.4% in Q1 2026.
How has Cummins's gross margin changed year-over-year?
Cummins's gross margin increased by 0.5% year-over-year, from 25.3% to 25.4%.
What is the long-term trend for Cummins's gross margin?
Over 4 years (2021 to 2025), Cummins's gross margin has grown at a 1.3% compound annual growth rate (CAGR), from 96.5% to 101.8%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.