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Cummins CMI Net margin

Net margin at other companies

Caterpillar logo
CaterpillarCAT
13.3%-2.4pp
Generac Holdings logo
Generac HoldingsGNRC
7%-0.2pp
Paccar logo
PaccarPCAR
8.9%-1.8pp
Wabtec logo
WabtecWAB
10.5%0.0pp
TransDigm Group logo
TransDigm GroupTDG
21.9%-0.8pp
Eaton Corporation logo
Eaton CorporationETN
14%-1.6pp

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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Gross margin25.4%+0.1pp
Operating margin11.3%-0.4pp

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 net margin?
Cummins (CMI) reported net margin of 8.2% in Q1 2026.
How has Cummins's net margin changed year-over-year?
Cummins's net margin decreased by 3.6% year-over-year, from 8.5% to 8.2%.
What is the long-term trend for Cummins's net margin?
Over 2 years (2021 to 2025), Cummins's net margin has grown at a -3.3% compound annual growth rate (CAGR), from 37.1% to 34.7%.
What does net margin mean?
The share of every sales dollar that becomes bottom-line profit.
How do you interpret net margin?
Higher is better, but net margin mixes operating performance with financing and tax effects and one-off items — read it alongside operating margin to separate the operating story from the rest.
How does net margin compare across companies?
Comparable across peers but sensitive to leverage and tax structure; two operationally identical firms can show different net margins purely from financing.