Last 48 quarters of trend data · Industrials · Industrial - Machinery
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Cummins Inc.'s quarterly P/E stands at 28.6x, up 117.2% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 154.5% YoY to 22.6x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 33.29 | 28.56 | 29.89 | 27.43 | 12.75 | 13.15 | 28.86 | 13.81 | 13.16 | 5.25 | — | 12.44 | 12.14 |
| — | +117.2% | +3.6% | +98.5% | -3.1% | +150.4% | — | +11.0% | +8.4% | -51.2% | — | -31.0% | +23.9% | |
| P/S Ratio | 2.80 | 2.22 | 2.08 | 1.76 | 1.31 | 1.33 | 1.43 | 1.32 | 1.09 | 1.25 | 0.99 | 0.97 | 1.01 |
| — | +67.7% | +45.5% | +33.1% | +20.8% | +6.4% | +43.5% | +36.7% | +7.3% | +23.8% | -10.3% | -1.8% | -3.1% | |
| P/B Ratio | 7.06 | 5.58 | 5.29 | 4.47 | 3.52 | 3.62 | 4.27 | 3.94 | 3.61 | 4.15 | 3.43 | 2.79 | 3.08 |
| — | +54.2% | +24.0% | +13.4% | -2.5% | -12.6% | +24.3% | +41.1% | +17.4% | +32.6% | +1.8% | -7.1% | +8.1% | |
| P/FCF | 39.52 | 155.58 | 17.92 | 14.53 | 20.45 | — | 13.68 | 29.34 | — | 97.83 | 9.04 | 6.53 | 33.34 |
| — | — | +31.0% | -50.5% | — | — | +51.3% | +349.3% | — | +247.4% | -62.9% | -85.5% | +113.0% | |
| EV / EBITDA | 20.03 | 22.61 | 20.99 | 12.61 | 8.59 | 8.88 | 13.50 | 9.71 | 8.52 | 9.81 | — | 7.91 | 8.24 |
| — | +154.5% | +55.4% | +29.9% | +0.8% | -9.5% | — | +22.7% | +3.3% | +23.9% | — | -23.8% | +17.4% | |
| EV / EBIT | 25.76 | 22.61 | 21.83 | 17.57 | 9.85 | 10.44 | 18.03 | 11.34 | 10.26 | 5.05 | — | 9.80 | 9.87 |
| — | +116.6% | +21.0% | +54.9% | -4.0% | +106.9% | — | +15.8% | +4.0% | -44.1% | — | -25.1% | +17.4% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Cummins Inc.'s operating margin was 11.3% in Q1 2026, up 3.8 pp QoQ and down 2.6 pp YoY.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.3% | 26.7% | 22.9% | 25.6% | 26.4% | 26.4% | 24.1% | 25.7% | 24.9% | 24.3% | 23.4% | 24.6% | 24.9% |
| — | +1.3% | -5.1% | -0.3% | +5.9% | +8.5% | +2.8% | +4.5% | +0.3% | +1.2% | +0.1% | +9.7% | -5.1% | |
| Operating Margin | 11.5% | 11.3% | 7.5% | 12.0% | 14.2% | 13.9% | 8.7% | 12.4% | 11.9% | 11.0% | -14.2% | 11.3% | 11.5% |
| — | -18.5% | -13.5% | -3.7% | +19.4% | +26.3% | +161.1% | +10.2% | +2.9% | -9.5% | -237.4% | +32.0% | -15.3% | |
| Net Margin | 8.4% | 7.8% | 6.9% | 6.4% | 10.3% | 10.1% | 4.9% | 9.6% | 8.3% | 23.7% | -16.8% | 7.8% | 8.3% |
| — | -22.7% | +40.4% | -32.6% | +24.8% | -57.5% | +129.5% | +23.0% | -1.0% | +153.8% | -306.3% | +42.6% | -21.8% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 23.0% | 4.9% | 4.5% | 4.1% | 7.2% | 7.1% | 3.7% | 7.4% | 7.0% | 19.9% | -13.3% | 5.7% | 6.5% |
| — | -31.0% | +21.2% | -44.1% | +2.0% | -64.5% | +127.8% | +29.6% | +8.4% | +166.2% | -308.4% | +37.2% | -12.3% | |
| ROA | 8.7% | 1.9% | 1.8% | 1.6% | 2.7% | 2.6% | 1.3% | 2.6% | 2.3% | 6.2% | -4.5% | 2.1% | 2.3% |
| — | -25.7% | +33.4% | -38.2% | +15.9% | -58.8% | +129.4% | +24.2% | +0.9% | +144.0% | -312.5% | +39.4% | -21.1% | |
| ROIC | 16.1% | 3.8% | 2.6% | 3.9% | 4.9% | 4.8% | 3.1% | 4.5% | 4.9% | 4.6% | -5.6% | 4.1% | 4.3% |
| — | -20.7% | -18.3% | -13.4% | -1.0% | +2.5% | +155.6% | +11.7% | +15.1% | +1.6% | -251.0% | +20.2% | -24.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Cummins Inc.'s Debt/EBITDA ratio is 9.3x, up from 8.9x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 27.3% YoY to 1.71x, strengthening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.61 | 0.62 | 0.61 | 0.62 | 0.67 | 0.67 | 0.67 | 0.72 | 0.75 | 0.72 | 0.73 | 0.68 | 0.72 |
| — | -8.2% | -9.9% | -12.7% | -10.4% | -7.1% | -7.7% | +4.8% | +4.1% | -4.7% | -10.9% | -23.6% | +43.8% | |
| Debt / EBITDA | 1.63 | 9.28 | 8.94 | 6.43 | 5.77 | 5.73 | 7.58 | 6.16 | 6.09 | 6.14 | — | 6.60 | 6.56 |
| — | +62.0% | +18.0% | +4.3% | -5.3% | -6.7% | — | -6.6% | -7.1% | -5.3% | — | -35.3% | +43.5% | |
| Current Ratio | 1.76 | 1.71 | 1.76 | 1.77 | 1.64 | 1.34 | 1.31 | 1.32 | 1.34 | 1.34 | 1.18 | 1.43 | 1.40 |
| — | +27.3% | +34.1% | +34.0% | +22.3% | +0.4% | +11.5% | -7.7% | -3.8% | +3.7% | -6.9% | +4.6% | -16.1% | |
| Quick Ratio | 1.16 | 1.11 | 1.16 | 1.11 | 1.03 | 0.81 | 0.80 | 0.79 | 0.82 | 0.84 | 0.74 | 0.90 | 0.85 |
| — | +36.0% | +44.1% | +39.9% | +26.3% | -3.6% | +8.7% | -12.0% | -3.8% | +6.0% | -4.8% | +6.9% | -18.5% | |
| Interest Coverage | 13.05 | 11.68 | 10.65 | 11.00 | 15.08 | 15.51 | 8.44 | 13.57 | 9.96 | 25.96 | -12.37 | 10.05 | 10.59 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Cummins Inc.'s current P/E is 33.3x. The average P/E over the last 4 quarters is 24.7x. 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 compressing 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.