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Cummins CMI Operating margin

Operating margin at other companies

Caterpillar logo
CaterpillarCAT
17.5%-0.7pp
Donaldson Company logo
Donaldson CompanyDCI
15.1%+1.7pp
BorgWarner logo
BorgWarnerBWA
8.1%-0.1pp
Allison Transmission Holdings logo
Allison Transmission HoldingsALSN
22.6%-8.8pp
Hyliion logo
HyliionHYLN
-1,015.1%-414pp
Phinia logo
PhiniaPHIN
7%-1.0pp

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$87.51B+75.7%
Enterprise value$91.53B+63.6%
P/E31.4×+15.1×
P/S2.5×+1.0×

Profitability

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Gross margin25.3%-0.3pp
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

Calculated from Cummins’s reported figures.

Based on trailing twelve months.

The source filing: Cummins’s 8-K, filed August 4, 2026. Open the filing →

Filed
Aug 4, 2026, 7:58 AM EDT
Accession
0000026172-26-000026

FAQ

What is Cummins's operating margin?
Cummins (CMI) reported operating margin of 11.2% in Q2 2026.
How has Cummins's operating margin changed year-over-year?
Cummins's operating margin decreased by 8.7% year-over-year, from 12.3% to 11.2%.
What is the long-term trend for Cummins's operating margin?
Over 4 years (2020 to 2025), Cummins's operating margin has grown at a 1.1% compound annual growth rate (CAGR), from 11.5% to 12%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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