Last 47 quarters of trend data · Industrials · Industrial - Machinery
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 25.24 | 26.49 | 28.56 | 29.89 | 27.43 | 12.75 | 13.15 | 28.86 | 13.81 | 13.16 | 5.25 | — | 12.44 | 12.14 | 10.76 | 13.67 | 18.04 | 9.79 | 17.56 | 19.76 | 15.44 |
| — | +107.7% | +117.2% | +3.6% | +98.5% | -3.1% | +150.4% | — | +11.0% | +8.4% | -51.2% | — | -31.0% | +23.9% | -38.7% | -30.8% | +16.8% | -33.6% | +10.9% | +16.9% | -0.5% | |
| P/S Ratio | 2.12 | 2.61 | 2.22 | 2.08 | 1.76 | 1.31 | 1.33 | 1.43 | 1.32 | 1.09 | 1.25 | 0.99 | 0.97 | 1.01 | 1.01 | 1.11 | 0.99 | 1.04 | 1.15 | 1.33 | 1.38 |
| — | +99.3% | +67.7% | +45.5% | +33.1% | +20.8% | +6.4% | +43.5% | +36.7% | +7.3% | +23.8% | -10.3% | -1.8% | -3.1% | -12.5% | -16.5% | -28.7% | -28.0% | -26.7% | -8.6% | -8.9% | |
| P/B Ratio | 5.35 | 7.11 | 5.58 | 5.29 | 4.47 | 3.52 | 3.62 | 4.27 | 3.94 | 3.61 | 4.15 | 3.43 | 2.79 | 3.08 | 3.13 | 3.37 | 3.01 | 2.85 | 3.13 | 3.31 | 3.66 |
| — | +101.9% | +54.2% | +24.0% | +13.4% | -2.5% | -12.6% | +24.3% | +41.1% | +17.4% | +32.6% | +1.8% | -7.1% | +8.1% | -0.3% | +2.0% | -17.9% | -29.4% | -25.9% | -12.3% | +1.9% | |
| P/FCF | 29.92 | 19.77 | 155.58 | 17.92 | 14.53 | 20.45 | — | 13.68 | 29.34 | — | 97.83 | 9.04 | 6.53 | 33.34 | 28.16 | 24.35 | 45.15 | 15.65 | 149.75 | 22.59 | 20.36 |
| — | -3.3% | — | +31.0% | -50.5% | — | — | +51.3% | +349.3% | — | +247.4% | -62.9% | -85.5% | +113.0% | -81.2% | +7.8% | +121.8% | -15.2% | +277.7% | +131.3% | +187.1% | |
| EV / EBITDA | 15.43 | 16.65 | 16.31 | 20.99 | 12.61 | 8.59 | 8.88 | 13.50 | 9.71 | 8.52 | 9.81 | — | 7.91 | 8.24 | 7.92 | 9.77 | 10.39 | 7.02 | 10.34 | 12.54 | 10.53 |
| — | +93.9% | +83.6% | +55.4% | +29.9% | +0.8% | -9.5% | — | +22.7% | +3.3% | +23.9% | — | -23.8% | +17.4% | -23.5% | -22.1% | -1.4% | -32.2% | +1.8% | +14.7% | +7.8% | |
| EV / EBIT | 19.84 | 21.93 | 22.61 | 21.83 | 17.57 | 9.85 | 10.44 | 18.03 | 11.34 | 10.26 | 5.05 | — | 9.80 | 9.87 | 9.02 | 11.77 | 13.07 | 8.40 | 13.30 | 15.33 | 12.37 |
| — | +122.7% | +116.6% | +21.0% | +54.9% | -4.0% | +106.9% | — | +15.8% | +4.0% | -44.1% | — | -25.1% | +17.4% | -32.1% | -23.2% | +5.7% | -27.3% | +8.3% | +15.9% | +7.7% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.3% | 26.1% | 26.7% | 22.9% | 25.6% | 26.4% | 26.4% | 24.1% | 25.7% | 24.9% | 24.3% | 23.4% | 24.6% | 24.9% | 24.0% | 23.4% | 22.4% | 26.2% | 24.0% | 22.5% | 23.7% |
| — | -1.2% | +1.3% | -5.1% | -0.3% | +5.9% | +8.5% | +2.8% | +4.5% | +0.3% | +1.2% | +0.1% | +9.7% | -5.1% | +0.0% | +4.0% | -5.5% | +8.4% | -1.6% | -3.6% | -10.1% | |
| Operating Margin | 11.5% | 13.5% | 11.3% | 7.5% | 12.0% | 14.2% | 13.9% | 8.7% | 12.4% | 11.9% | 11.0% | -14.2% | 11.3% | 11.5% | 12.1% | 10.3% | 8.5% | 13.6% | 9.5% | 8.5% | 11.2% |
| — | -4.7% | -18.5% | -13.5% | -3.7% | +19.4% | +26.3% | +161.1% | +10.2% | +2.9% | -9.5% | -237.4% | +32.0% | -15.3% | +28.3% | +22.0% | -23.5% | +13.2% | -28.9% | -21.6% | -14.8% | |
| Net Margin | 8.4% | 9.9% | 7.8% | 6.9% | 6.4% | 10.3% | 10.1% | 4.9% | 9.6% | 8.3% | 23.7% | -16.8% | 7.8% | 8.3% | 9.3% | 8.1% | 5.5% | 10.7% | 6.5% | 6.7% | 8.9% |
| — | -4.3% | -22.7% | +40.4% | -32.6% | +24.8% | -57.5% | +129.5% | +23.0% | -1.0% | +153.8% | -306.3% | +42.6% | -21.8% | +42.8% | +20.6% | -39.0% | +8.6% | -33.9% | -21.6% | -8.6% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 23.0% | 6.8% | 4.9% | 4.5% | 4.1% | 7.2% | 7.1% | 3.7% | 7.4% | 7.0% | 19.9% | -13.3% | 5.7% | 6.5% | 7.5% | 6.4% | 4.2% | 7.4% | 4.5% | 4.3% | 6.0% |
| — | -4.6% | -31.0% | +21.2% | -44.1% | +2.0% | -64.5% | +127.8% | +29.6% | +8.4% | +166.2% | -308.4% | +37.2% | -12.3% | +68.0% | +48.6% | -30.8% | +9.7% | -33.4% | -24.7% | +0.4% | |
| ROA | 8.7% | 2.7% | 1.9% | 1.8% | 1.6% | 2.7% | 2.6% | 1.3% | 2.6% | 2.3% | 6.2% | -4.5% | 2.1% | 2.3% | 2.6% | 2.1% | 1.5% | 2.9% | 1.7% | 1.7% | 2.3% |
| — | -0.2% | -25.7% | +33.4% | -38.2% | +15.9% | -58.8% | +129.4% | +24.2% | +0.9% | +144.0% | -312.5% | +39.4% | -21.1% | +46.4% | +24.7% | -36.9% | +9.7% | -33.9% | -25.7% | -2.3% | |
| ROIC | 16.1% | 5.0% | 3.8% | 2.6% | 3.9% | 4.9% | 4.8% | 3.1% | 4.5% | 4.9% | 4.6% | -5.6% | 4.1% | 4.3% | 4.6% | 3.7% | 3.4% | 5.7% | 3.9% | 3.3% | 4.6% |
| — | +3.5% | -20.7% | -18.3% | -13.4% | -1.0% | +2.5% | +155.6% | +11.7% | +15.1% | +1.6% | -251.0% | +20.2% | -24.5% | +16.6% | +11.9% | -27.1% | +9.8% | -32.7% | -27.6% | -3.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.61 | 0.60 | 0.62 | 0.61 | 0.62 | 0.67 | 0.67 | 0.67 | 0.72 | 0.75 | 0.72 | 0.73 | 0.68 | 0.72 | 0.76 | 0.82 | 0.89 | 0.50 | 0.49 | 0.49 | 0.49 |
| — | -11.7% | -8.2% | -9.9% | -12.7% | -10.4% | -7.1% | -7.7% | +4.8% | +4.1% | -4.7% | -10.9% | -23.6% | +43.8% | +55.0% | +66.5% | +83.0% | +0.8% | -3.1% | -4.5% | -7.6% | |
| Debt / EBITDA | 1.63 | 5.31 | 6.69 | 8.94 | 6.43 | 5.77 | 5.73 | 7.58 | 6.16 | 6.09 | 6.14 | — | 6.60 | 6.56 | 6.49 | 8.02 | 10.20 | 4.57 | 5.98 | 6.99 | 5.32 |
| — | -8.0% | +16.9% | +18.0% | +4.3% | -5.3% | -6.7% | — | -6.6% | -7.1% | -5.3% | — | -35.3% | +43.5% | +8.4% | +14.7% | +91.6% | -6.2% | +28.6% | +21.6% | -2.6% | |
| Current Ratio | 1.76 | 1.73 | 1.71 | 1.76 | 1.77 | 1.64 | 1.34 | 1.31 | 1.32 | 1.34 | 1.34 | 1.18 | 1.43 | 1.40 | 1.29 | 1.27 | 1.37 | 1.66 | 1.68 | 1.74 | 1.80 |
| — | +5.2% | +27.3% | +34.1% | +34.0% | +22.3% | +0.4% | +11.5% | -7.7% | -3.8% | +3.7% | -6.9% | +4.6% | -16.1% | -23.1% | -27.2% | -23.9% | -7.9% | -7.9% | -7.5% | -7.3% | |
| Quick Ratio | 1.16 | 1.13 | 1.11 | 1.16 | 1.11 | 1.03 | 0.81 | 0.80 | 0.79 | 0.82 | 0.84 | 0.74 | 0.90 | 0.85 | 0.80 | 0.77 | 0.84 | 1.04 | 1.07 | 1.12 | 1.17 |
| — | +9.3% | +36.0% | +44.1% | +39.9% | +26.3% | -3.6% | +8.7% | -12.0% | -3.8% | +6.0% | -4.8% | +6.9% | -18.5% | -25.4% | -31.0% | -27.9% | -12.4% | -15.1% | -16.0% | -12.3% | |
| Interest Coverage | 13.05 | 14.81 | 11.68 | 10.65 | 11.00 | 15.08 | 15.51 | 8.44 | 13.57 | 9.96 | 25.96 | -12.37 | 10.05 | 10.59 | 12.83 | 9.94 | 10.97 | 26.15 | 35.00 | 20.77 | 25.11 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying CMI stock.
Cummins Inc.'s current P/E is 25.2x. The average P/E over the last 4 quarters is 28.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Cummins Inc.'s current operating margin is 11.5%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Cummins Inc.'s business trajectory between earnings reports.