Cummins
Builds engines, power systems and commercial-vehicle components backed by global parts and service.
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Profile
Sells engines, drivetrain and emissions components, generators, and aftermarket service to truck, off-highway, industrial and power customers. A global distribution network supports the installed base, while demand depends on equipment cycles, emissions rules and a concentrated group of vehicle manufacturers.
Designs, manufactures, distributes and services diesel, natural-gas and gasoline engines, drivetrain and emissions components, and integrated power-generation equipment. Engine and Components supply truck and off-highway manufacturers, while Power Systems serves standby, prime-power and high-horsepower applications. Accelera remains a small zero-emissions segment focused on electrified powertrains while fulfilling existing electrolyzer commitments.
Supports installed equipment through a worldwide distribution and dealer network offering parts, application engineering and field repair. Most sales come from U.S. customers, with operations spanning major markets across Asia, Europe, Latin America, Africa and the Middle East.
Demand depends on truck and equipment production, industrial and power-generation investment, and aftermarket use. Emissions and fuel-economy rules shape product development, while PACCAR and several other large vehicle manufacturers represent a substantial share of sales.
Company facts
Categories
Key statistics
Year to date +8.1% · Average volume (30d) 920.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 23, 2026 | CICC | Initiate | Outperform | |||
| Aug 5, 2026 | Bernstein | Reiterate | Market Perform | $600 | $700 | |
| Aug 5, 2026 | UBS | Reiterate | Buy | $850 | $835 | |
| Aug 5, 2026 | Truist Financial | Target | $901 | $894 | ||
| Jul 2, 2026 | Truist Financial | Target | $815 | $901 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $7.21 | $6.73 | −6.7% | $9.33B | $9.46B | +1.4% | −1.99% |
| May 5, 2026Q1 FY26 | $5.63 | $6.15 | +9.2% | $8.37B | $8.40B | +0.4% | +6.04% |
| Feb 5, 2026Q4 FY25 | $5.10 | $5.81 | +13.9% | $8.11B | $8.54B | +5.3% | +6.86% |
| Nov 6, 2025Q3 FY25 | $4.83 | $5.59 | +15.7% | $7.99B | $8.32B | +4.1% | +2.28% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $8.17B | $8.64B | $8.32B | $8.54B | $8.40B | $9.46B | |
| Gross profit | $2.16B | $2.28B | $2.13B | $1.95B | $2.24B | $2.47B | |
| Operating income | $1.13B | $1.23B | $995.0M | $640.0M | $949.0M | $1.28B | |
| Net income | $824.0M | $890.0M | $536.0M | $593.0M | $654.0M | $932.0M | |
| Diluted EPS | $5.96 | $6.42 | $3.85 | $4.27 | $4.71 | $6.73 | |
| Gross margin | 26.4% | 26.4% | 25.6% | 22.9% | 26.7% | 26.1% | |
| Operating margin | 13.9% | 14.2% | 12.0% | 7.5% | 11.3% | 13.5% |
Fiscal years (4-quarter sums)FY21 $24.02B · FY22 $28.07B · FY23 $34.07B · FY24 $34.10B · FY25 $33.67B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $3.92B · Total debt $8.29B · Total assets $35.63B · Shareholders' equity $12.85B
Dividends
Raised for 34 straight years — most recently to $2.20 from $2.00 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 21, 2026 | Aug 21 | Sep 3 | $2.20 | raised from $2.00 |
| May 22, 2026 | May 22 | Jun 4 | $2.00 | |
| Feb 20, 2026 | Feb 20 | Mar 5 | $2.00 | |
| Nov 21, 2025 | Nov 21 | Dec 4 | $2.00 | |
| Aug 22, 2025 | Aug 22 | Sep 4 | $2.00 | raised from $1.82 |
| May 23, 2025 | May 23 | Jun 5 | $1.82 | |
| Feb 21, 2025 | Feb 21 | Mar 6 | $1.82 | |
| Nov 22, 2024 | Nov 22 | Dec 5 | $1.82 |
Ownership
Shares outstanding 137.99M · Float 137.53M · 99.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 11.50M | 8.34% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 9.01M | 6.53% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 7.53M | 5.46% | 13F | Aug 13, 2026 |
| State Street Corp | 6.91M | 5.01% | 13F | Aug 7, 2026 |
| FMR LLC | 6.09M | 4.41% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 24, 2026 | Earl Newsome | officer: VP - Chief Information Officer | −698 | $572.22 |
| May 14, 2026 | Donald G. Jackson | officer: VP - Treasury & Tax | −730 | $710.92 |
| May 12, 2026 | Jennifer Mary Bush | officer: VP & Pres. - Power Systems | −5,000 | $696.21 |
| May 11, 2026 | Bonnie J. Fetch | officer: EVP & President - Operations | −1,295 | $701.42 |
| May 11, 2026 | Brett Michael Merritt | officer: V.P & Pres. - Engine Business | −701 | $688.75 |
Peers
- Caterpillar
Named primary rival in Power Systems; also contests high-hp industrial engines.
- PACCAR
#1 Cummins customer turned engine rival; competes and partners simultaneously.
- BorgWarner
Named in Components and Accelera; turbocharger and EV drivetrain rival.
- Allison Transmission
Named Components rival; world's largest heavy-duty automatic transmission maker.
- Generac
Named Power Systems rival; competes on commercial/industrial generator sets.
- Garrett Motion
Named Components rival; turbocharger specialist for CV and industrial OEMs.
- Plug Power
Named Accelera rival; PEM electrolyzer and hydrogen fuel cell platform company.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Cummins | $564.40 | −0.03% | $77.94B | 28.9 | 17.0 | 2.2 | +9.4% |
| Caterpillar | $799.82 | −0.02% | $368.62B | 34.4 | 27.8 | 4.9 | +24.0% |
| PACCAR | $125.65 | +0.26% | $65.97B | 26.3 | 18.9 | 2.4 | −6.8% |
| BorgWarner | $63.84 | −0.37% | $13.15B | 32.0 | 11.8 | 0.9 | +0.3% |
| Allison Transmission | $126.32 | −0.06% | $10.48B | 20.1 | 12.1 | 2.8 | +92.4% |
| Generac | $185.00 | +0.65% | $10.82B | 42.4 | 18.2 | 2.4 | +10.6% |
| Garrett Motion | $26.66 | −0.04% | $4.97B | 14.6 | 13.2 | 1.3 | +6.9% |
| Plug Power | $2.20 | +0.46% | $3.06B | — | — | 4.1 | +2.5% |
| Median | 29.2 | 15.7 | 2.4 | +6.9% |