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Cummins CMI Return on invested capital

Return on invested capital at other companies

Caterpillar logo
CaterpillarCAT
18.2%-5.9pp
Donaldson Company logo
Donaldson CompanyDCI
21.6%+2.2pp
BorgWarner logo
BorgWarnerBWA
5.6%-6.0pp
Allison Transmission Holdings logo
Allison Transmission HoldingsALSN
13.7%-11.4pp
Garrett Motion Inc. logo
Garrett Motion Inc.GTX
82.9%+15.3pp
Hyliion logo
HyliionHYLN
-30.6%+6.0pp

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
Operating margin11.2%-1.1pp
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 return on invested capital?
Cummins (CMI) reported return on invested capital of 22.4% in Q2 2026.
How has Cummins's return on invested capital changed year-over-year?
Cummins's return on invested capital decreased by 12.5% year-over-year, from 25.6% to 22.4%.
What is the long-term trend for Cummins's return on invested capital?
Over 4 years (2020 to 2025), Cummins's return on invested capital has grown at a 5.7% compound annual growth rate (CAGR), from 19.8% to 24.8%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

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