US · USD

CMI

Cummins Inc

$517.00+0.08% ($0.43)Updated 10/1/26, 5:28 PM

Day's range: $507.20 – $525.62
Day's volume: $855.5M
52-week range: $402.10 – $724.89

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CMI in numbers

Market cap: $71.2B

P/B: 5.54

Dividend yield (12m): 1.59%

Net debt/EBITDA: -0.68

The 12-month dividend yield of CMI is 1.59%, below its 5-year average of 2.26%.

CMI price history

10/02/202510/01/2026

Compare with

CMI risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+24.09%	+140.27%	+157.97%
Volatility (annualized)	39.55%	29.92%	30.49%
Largest drawdown	-27.30%	-27.30%	-27.30%
Positive months	7/12	24/36	35/60

How much did investing in CMI return?

Amount invested

$1,000.00 invested on 09/01/2021 would be worth $2,579.69 today.

Value today in CMI: $2,579.69

Return over the period: +157.97%

Return per year: +20.87%

In the S&P 500: $1,776.31

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

CMI fundamentals

Valuation

P/E
—
P/B
5.54
EV/EBITDA
13.51
EV/EBIT
17.40
EV/Revenue
1.95
P/EBIT
18.28
P/S
2.05
P/OCF
15.32
P/FCF
21.14
Earnings yield
5.75%
PEG ratio
—
Earnings per share
—
Book value per share
$93.32

Debt

Net debt
-$3.4B
Net debt/EBITDA
-0.68
Net debt/Equity
-0.27
Debt/Equity
0.04
Current ratio
1.73
Quick ratio
1.13
Cash ratio
0.37

Efficiency

Gross margin
25.32%
EBITDA margin
14.44%
Operating margin
11.22%
Net margin
—
Asset turnover
0.97

Profitability

ROE
—
ROA
—
ROIC
30.36%
Payout
—

What is CMI's fair price?

Two classic value formulas, with today's numbers. The current price is $517.00.

Graham's fair price: —; CMI's earnings per share and book value per share are not available, so the formula cannot be computed.

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price: $109.27; 78.87% below the price

$6.56 (5-year average) ÷ 6%

Décio Bazin only bought stocks yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years over 6%.

Graham ignores growth and debt; Bazin assumes past distributions repeat. They are references to compare, not a buy recommendation.

CMI's indicators by year

Multiples at each year's closing price; margins and returns from that year's statements.

Indicator	2025	2024	2023	2022	2021	2020	2019	2018
P/B	5.71	4.67	3.84	3.82	3.81	4.16	3.58	2.86
EV/EBITDA	13.13	9.88	11.80	9.40	8.39	10.22	7.85	6.05
Dividend yield	1.50%	2.01%	2.71%	2.49%	2.57%	2.33%	2.74%	3.32%
Book value per share	$89.38	$74.71	$62.39	$63.48	$57.19	$54.60	$49.96	$46.70
ROIC	32.69%	31.35%	11.78%	23.55%	39.93%	38.33%	30.57%	32.22%
Gross margin	25.29%	24.75%	24.22%	23.93%	23.71%	24.70%	25.37%	24.13%
EBITDA margin	15.24%	14.12%	8.18%	13.23%	14.02%	14.85%	14.31%	14.29%
Net debt/EBITDA	-0.62	-0.07	-0.40	0.18	-0.84	-1.18	-0.13	-0.14

CMI's financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	$33.7B	$34.1B	$34.1B	$28.1B	$24B	$19.8B
Cost of revenue	-$25.2B	-$25.7B	-$25.8B	-$21.4B	-$18.3B	-$14.9B
Gross profit	$8.5B	$8.4B	$8.2B	$6.7B	$5.7B	$4.9B
EBITDA	$5.1B	$4.8B	$2.8B	$3.7B	$3.4B	$2.9B
EBIT	$4B	$3.8B	$1.8B	$2.9B	$2.7B	$2.3B
Financial result	—	—	—	—	—	—
Income before tax	$4B	$4.9B	$1.6B	$2.8B	$2.8B	$2.3B
Income tax	-$1B	-$835M	-$786M	-$636M	-$587M	-$527M
Net income	—	—	—	—	—	—

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does CMI pay dividends?

Dividend yield per year

2.38%2017
3.32%2018
2.74%2019
2.33%2020
2.57%2021
2.49%2022
2.71%2023
2.01%2024
1.50%2025
1.20%2026

Payment history
Type	Last day to own	Payment	Per share
Dividend	08/20/2026	09/03/2026	$2.20
Dividend	05/21/2026	06/04/2026	$2.00
Dividend	02/19/2026	03/05/2026	$2.00
Dividend	11/20/2025	12/04/2025	$2.00
Dividend	08/21/2025	09/04/2025	$2.00
Dividend	05/22/2025	06/05/2025	$1.82
Dividend	02/20/2025	03/06/2025	$1.82
Dividend	11/21/2024	12/05/2024	$1.82
Dividend	08/22/2024	09/05/2024	$1.82
Dividend	05/22/2024	06/06/2024	$1.68
Dividend	02/21/2024	03/07/2024	$1.68
Dividend	11/21/2023	12/07/2023	$1.68

See all 40 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Dividend	08/23/2023	09/07/2023	$1.68
Dividend	05/17/2023	06/01/2023	$1.57
Dividend	02/22/2023	03/09/2023	$1.57
Dividend	11/16/2022	12/01/2022	$1.57
Dividend	08/17/2022	09/01/2022	$1.57
Dividend	05/18/2022	06/02/2022	$1.45
Dividend	02/16/2022	03/03/2022	$1.45
Dividend	11/17/2021	12/02/2021	$1.45
Dividend	08/18/2021	09/02/2021	$1.45
Dividend	05/19/2021	06/03/2021	$1.35
Dividend	02/17/2021	03/04/2021	$1.35
Dividend	11/18/2020	12/03/2020	$1.35
Dividend	08/19/2020	09/03/2020	$1.31
Dividend	05/20/2020	06/04/2020	$1.31
Dividend	02/19/2020	03/05/2020	$1.31
Dividend	11/12/2019	12/02/2019	$1.31
Dividend	08/19/2019	09/03/2019	$1.31
Dividend	05/22/2019	06/05/2019	$1.14
Dividend	02/20/2019	03/07/2019	$1.14
Dividend	11/13/2018	12/03/2018	$1.14
Dividend	08/20/2018	09/04/2018	$1.14
Dividend	05/16/2018	06/01/2018	$1.08
Dividend	02/21/2018	03/08/2018	$1.08
Dividend	11/15/2017	12/01/2017	$1.08
Dividend	08/15/2017	09/01/2017	$1.08
Dividend	05/16/2017	06/01/2017	$1.03
Dividend	02/21/2017	03/06/2017	$1.03
Dividend	11/16/2016	12/01/2016	$1.03

About Cummins

Sector: Manufacturing

Questions about CMI

How much is CMI today?

CMI is at $517.00 (0.08% on the day), last traded on 10/01/2026.

How much did CMI pay in dividends in 2025?

CMI paid $7.64 per share in 2025, a dividend yield of 1.50%.

How much did CMI return in 12 months?

CMI returned 24.09% in 12 months, with annualized volatility of 39.55% and a largest drawdown of -27.30%.