Cummins is executing a strategic pivot toward power generation and aftermarket services, evidenced by a 9.4% YoY revenue growth in 2026Q2 and gross margin expansion to 26.1%. The balance sheet has strengthened, with D/E improving to 0.60 and current ratio at 1.73, providing flexibility for continued capital returns.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue growth turned positive at 9.4% YoY in 2026Q2, with gross margin expanding to 26.1% and operating margin reaching 13.5%, though EPS was inflated by a $0.9B one-time gain.
Cummins serves customers in roughly 190 countries and territories and has kept the world running for over a century since its 1919 founding, giving it a diversified, long-established global customer base.
With service and parts information covering more than 11 million Cummins diesel engines, the company has a substantial installed base that supports recurring parts, service, and genuine-parts revenue.
Offering diesel, natural gas, and alternative fuel engines, generators, and related components positions Cummins to benefit from the transition to lower-emission power technologies while retaining traditional demand.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Nov 5, 2026 | $7.71-6.0% vs $8.20 | $9.4B-4.5% vs $9.9B |
Q3 2026 Aug 4, 2026 | $6.73-6.7% vs $7.21 | $9.5B+1.4% vs $9.3B |
Q2 2026 May 5, 2026 | $6.15+9.2% vs $5.63 | $8.4B+0.4% vs $8.4B |
Q1 2026 Feb 5, 2026 | $5.81+13.9% vs $5.10 | $8.5B+5.3% vs $8.1B |
Cummins NYSE: CMI reported record third-quarter profitability as demand for truck engines and data center power equipment lifted revenue, but the company narrowed its full-year sales outlook after pickup truck demand fell short of expectations.
Cummins cuts its 2026 revenue outlook amid pickup truck weakness, while surging data center demand, shipment recovery and capacity expansion support growth.
Cummins Inc. ( CMI ) Q3 2026 Earnings Call November 5, 2026 10:00 AM EST Company Participants James Hopkins - Vice President of Financial Planning, Capital Management & Investor Relation Jennifer Rumsey - CEO & Chairman of the Board Mark Smith - CFO & VP Conference Call Participants Oliver Z Jiang - Morgan Stanley, Research Division Jerry Revich - Wells Fargo Securities, LLC, Research Division Jamie Cook - Truist Securities, Inc., Research Division Kyle Menges - Citigroup Inc., Research Division David Raso - Evercore ISI Institutional Equities, Research Division Robert Wertheimer - Melius Research LLC Tami Zakaria - JPMorgan Chase & Co, Research Division Kristen Owen - Oppenheimer & Co. Inc., Research Division Presentation Operator Greetings, and welcome to Cummins Inc. Third Quarter 2026 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.
While the top- and bottom-line numbers for Cummins (CMI) give a sense of how the business performed in the quarter ended September 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Benchmark CMI against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Cummins Inc. (CMI)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $450.07 | $62.1B | 18.73 | -1.27% | 9.26% | 24.12% | 1.69% | |
| $101.98 | $53.67B | 19.49 | -15.5% | 9.68% | 13.76% | 4.22% | |
| $558.63 | $257.33B | 21.76 | 4.29% | 15.21% | 58.53% | 1.05% | |
| $671.65 | $181.3B | 37.31 | -11.59% | 10.22% | 18.07% | 0.94% | |
| $110.44 | $8B | 27.47 | -13.55% | 2.76% | 6.25% | 1.05% | |
| $11.56 | $14.33B | 46.17 | -8.78% | 1.71% | 3.97% | 2.3% |
Cummins Inc. (CMI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Cummins Inc. (CMI) SEC filings — annual & quarterly reports (10-K, 10-Q)
Aug 4, 2026·SEC
May 14, 2026·SEC
May 5, 2026·SEC
Get notified when CMI posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
Cummins Inc. (CMI) stock FAQ — growth, dividends, profitability & financials explained
Cummins Inc. (CMI) reported $35.83B in revenue over the trailing twelve months. Revenue was $33.67B in fiscal year 2025. That is 540% more than the $5.26B of fiscal year 1996.
Cummins Inc. (CMI) grew revenue by 6.7% over the trailing twelve months, compared with the twelve months before.
Yes. Cummins Inc. (CMI) earned $3.32B in net income over the trailing twelve months (a 9.3% net margin).
Yes. Cummins Inc. (CMI) pays a dividend that yields 1.69% at the current price, a moderate yield.
Cummins Inc. (CMI) had a return on equity (ROE) of 24.1% over the trailing twelve months. That is well above the market's typical 10-15%.
Cummins Inc. (CMI) generated $3.46B in free cash flow over the trailing twelve months.
