CUMMINS INC

10-K & 10-Q Filings

Cummins Inc. is a global power leader that designs, manufactures, distributes, and services diesel, natural gas, electric, and hybrid powertrains and related components. The company was founded in 1919 and operates through five complementary business segments: Components, Engine, Distribution, Power Systems, and Accelera. The Components segment supplies products such as axles, brakes, filtration systems, and transmissions. The Engine segment manufactures and markets diesel and natural gas-powered engines for heavy-duty trucks, medium-duty trucks and buses, light-duty automotive, and off-highway markets. The Distribution segment serves as the primary sales, service, and support channel for Cummins' products and services. The Power Systems segment offers standby and prime power generators, high-speed, high-horsepower engines, and generator technologies for various industries and applications. The Accelera segment focuses on hydrogen production technologies and electrified power systems. Cummins has joint ventures, alliances, and non-wholly-owned subsidiaries in various parts of the world. The company's website is cummins.com, and its ticker symbol is CMI on the New York Stock Exchange.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$18048.00
17334.00
17301.00
19221.00
19110.00
17509.00
21602.00
23771.00
23571.00
19811.00
24021.00
28074.00
34065.00
8453.00
8403.00
5.44%-0.59%Cost of Revenue (-)
$13459.00
12826.00
12918.00
14360.00
14163.00
13057.00
16512.00
18034.00
17591.00
14917.00
18326.00
21355.00
25816.00
6424.00
6362.00
5.58%-0.97%Gross Profit (+)
$4589.00
4508.00
4383.00
4861.00
4947.00
4452.00
5090.00
5737.00
5980.00
4894.00
5695.00
6719.00
8249.00
2029.00
2041.00
5.01%0.59%Selling, General & Administrative (-)
$1837.00
1900.00
1920.00
2095.00
2092.00
2046.00
2390.00
2437.00
2454.00
2125.00
2374.00
2687.00
3333.00
753.00
839.00
5.09%11.42%Research & Development (-)
$629.00
728.00
713.00
754.00
735.00
636.00
752.00
902.00
1001.00
906.00
1090.00
1278.00
1500.00
350.00
369.00
7.51%5.43%Non-recurring Operating Expenses (-)
$
301.00
119.00
Operating Expenses (-)
$1908.00
2254.00
2282.00
2496.00
2890.00
2524.00
2725.00
2951.00
3280.00
2625.00
2989.00
3790.00
6488.00
1003.00
1118.00
10.74%11.47%Costs & Expenses (Total) (-)
$15367.00
15080.00
15200.00
16856.00
17053.00
15581.00
19237.00
20985.00
20871.00
17542.00
21315.00
25145.00
32304.00
7427.00
7480.00
6.39%0.71%Operating Income/Loss (+)
$2681.00
2254.00
2101.00
2365.00
2057.00
1928.00
2365.00
2786.00
2700.00
2269.00
2706.00
2929.00
1761.00
1026.00
923.00
-3.44%-10.04%Non-operating Income/Expense (+)
$155.00
55.00
59.00
133.00
33.00
71.00
438.00
475.00
573.00
621.00
662.00
438.00
723.00
209.00
1510.00
13.69%622.49%Interest Expense (-)
$44.00
32.00
41.00
64.00
65.00
69.00
81.00
114.00
109.00
100.00
111.00
199.00
375.00
87.00
89.00
19.55%2.30%Earnings before Tax (+)
$2671.00
2271.00
2119.00
2434.00
2025.00
1930.00
2365.00
2753.00
2834.00
2338.00
2751.00
2819.00
1626.00
1029.00
2221.00
-4.05%115.84%Tax Expense (-)
$725.00
533.00
531.00
698.00
555.00
474.00
1371.00
566.00
566.00
527.00
587.00
636.00
786.00
223.00
193.00
0.68%-13.45%Income/Loss (Continuing Operations) (+)
$1946.00
1738.00
1588.00
1736.00
1470.00
1456.00
994.00
2187.00
2268.00
1811.00
2164.00
2183.00
840.00
806.00
2028.00
-6.76%151.61%Profit/Loss (+)
$1946.00
1738.00
1588.00
1736.00
1470.00
1456.00
994.00
2187.00
2268.00
1811.00
2164.00
2183.00
840.00
806.00
2028.00
-6.76%151.61%Net Income/Loss (NCI) (-)
$98.00
93.00
105.00
85.00
71.00
62.00
-5.00
46.00
8.00
22.00
33.00
32.00
105.00
16.00
35.00
0.58%118.75%Net Income/Loss (+)
$1848.00
1645.00
1483.00
1651.00
1399.00
1394.00
999.00
2141.00
2260.00
1789.00
2131.00
2151.00
735.00
790.00
1993.00
-7.40%152.28%Net Income/Loss (Common) (+)
$1848.00
1645.00
1483.00
1651.00
1399.00
1394.00
999.00
2141.00
2260.00
1789.00
2131.00
2151.00
735.00
790.00
1993.00
-7.40%152.28%EPS (Basic)
$9.58
8.69
7.93
9.04
7.86
8.25
5.99
13.20
14.54
12.07
14.74
15.20
5.19
5.58
14.10
-4.98%152.69%EPS (Diluted)
$9.55
8.67
7.91
9.02
7.84
8.23
5.97
13.15
14.48
12.01
14.61
15.12
5.15
5.55
14.03
-5.02%152.79%Weighted Avg Shares (Basic)
191.93
189.84
186.68
181.95
174.32
168.16
165.68
157.34
150.27
147.66
142.43
141.38
141.86
141.50
141.30
-2.49%-0.14%Weighted Avg Shares (Diluted)
142.40
142.10
-0.21%Cash
$1484.00
1369.00
2699.00
2301.00
1711.00
1120.00
1369.00
1303.00
1129.00
3401.00
2592.00
2101.00
2179.00
1980.00
2541.00
3.25%28.33%Short-term Investments
$
222.00
341.00
461.00
595.00
472.00
562.00
459.00
510.00
11.11%Receivables
$2526.00
2475.00
2649.00
2946.00
2820.00
3025.00
3618.00
3866.00
3670.00
3820.00
3990.00
5202.00
5583.00
5834.00
5463.00
6.83%-6.36%Inventory
$2141.00
2221.00
2381.00
2866.00
2707.00
2675.00
3166.00
3759.00
3486.00
3425.00
4355.00
5603.00
5677.00
5878.00
5758.00
8.47%-2.04%Prepaid Expenses (Current)
$395.00
855.00
760.00
849.00
609.00
627.00
577.00
668.00
761.00
790.00
777.00
1073.00
1197.00
1217.00
1348.00
9.68%10.76%Other Assets (Current)
$545.00
247.00
150.00
93.00
100.00
260.00
198.00
Assets (Current)
$7091.00
7167.00
8639.00
9055.00
7947.00
7707.00
8928.00
9818.00
9387.00
11897.00
12309.00
14451.00
15198.00
15368.00
15620.00
6.56%1.64%Securities & Long-term Investments
$838.00
897.00
931.00
981.00
975.00
946.00
1156.00
1222.00
1237.00
1441.00
1538.00
1759.00
1800.00
1860.00
1774.00
6.58%-4.62%Property, Plant & Equipment (Net)
$2288.00
2724.00
3156.00
3686.00
3745.00
3800.00
3927.00
4096.00
4245.00
4255.00
4422.00
5521.00
6249.00
5590.00
6011.00
8.73%7.53%Accumulated Depreciation
$
5039.00
5242.00
4.03%Goodwill & Intangibles
$566.00
814.00
818.00
822.00
810.00
812.00
2055.00
2035.00
2289.00
2256.00
2187.00
5030.00
2519.00
5005.00
4861.00
13.25%-2.88%Other Assets
$885.00
946.00
1184.00
1232.00
1657.00
1746.00
2009.00
1891.00
2579.00
2775.00
3254.00
3538.00
6239.00
3610.00
3561.00
17.67%-1.36%Assets (Non-current)
$4577.00
5381.00
6089.00
6721.00
7187.00
7304.00
9147.00
9244.00
10350.00
10727.00
11401.00
15848.00
16807.00
16065.00
16207.00
11.45%0.88%Assets (Total)
$11668.00
12548.00
14728.00
15776.00
15134.00
15011.00
18075.00
19062.00
19737.00
22624.00
23710.00
30299.00
32005.00
31433.00
31827.00
8.77%1.25%Accounts Payable
$2339.00
1912.00
2089.00
2459.00
2115.00
2266.00
3390.00
4353.00
4133.00
4416.00
4894.00
6334.00
9122.00
6794.00
8734.00
12.01%28.55%Debt (Current)
$28.00
77.00
68.00
109.00
63.00
288.00
418.00
879.00
791.00
554.00
580.00
3357.00
1894.00
3343.00
1064.00
42.08%-68.17%Other Liabilities (Current)
$1290.00
1147.00
1211.00
1453.00
1625.00
1771.00
1869.00
1152.00
1336.00
1365.00
1610.00
1730.00
1887.00
1786.00
1888.00
3.22%5.71%Liabilities (Current)
$3657.00
3136.00
3368.00
4021.00
3803.00
4325.00
5677.00
6384.00
6260.00
6335.00
7084.00
11421.00
12903.00
11923.00
11686.00
11.08%-1.99%Debt (Non-current)
$658.00
698.00
1672.00
1589.00
1576.00
1568.00
1588.00
1597.00
1576.00
3610.00
3579.00
4498.00
4802.00
4409.00
5771.00
18.01%30.89%Other Liabilities
$1522.00
1740.00
1818.00
2073.00
2005.00
1944.00
2646.00
2822.00
3436.00
3690.00
3646.00
4155.00
4396.00
5478.00
5303.00
9.24%-3.19%Liabilities (Non-current)
$2180.00
2438.00
3490.00
3662.00
3581.00
3512.00
4234.00
4419.00
5012.00
7300.00
7225.00
8653.00
9198.00
9887.00
11074.00
12.75%12.01%Liabilities (Total)
$5837.00
5574.00
6858.00
7683.00
7384.00
7837.00
9911.00
10803.00
11272.00
13635.00
14309.00
20074.00
22101.00
21810.00
22760.00
11.73%4.36%Treasury Stock
$1587.00
1830.00
2195.00
2844.00
3735.00
4489.00
4905.00
6028.00
7225.00
7779.00
9123.00
9415.00
9359.00
9389.00
10831.00
15.94%15.36%Retained Earnings
$6038.00
7343.00
8406.00
9545.00
10322.00
11040.00
11464.00
12917.00
14416.00
15419.00
16741.00
18037.00
17851.00
18605.00
19605.00
9.45%5.37%AOCI
$-938.00
-950.00
-784.00
-1078.00
-1348.00
-1821.00
-1503.00
-1807.00
-2028.00
-1982.00
-1571.00
-1890.00
-2206.00
-1823.00
-2264.00
-24.19%Shareholder's Equity
$5831.00
6974.00
7870.00
8093.00
7750.00
7174.00
8164.00
8259.00
8465.00
8989.00
9401.00
9967.00
9904.00
9623.00
9067.00
4.51%-5.78%Liabilities & Equity
$11668.00
12548.00
14728.00
15776.00
15134.00
15011.00
18075.00
19062.00
19737.00
22624.00
23710.00
30299.00
32005.00
31433.00
31827.00
8.77%1.25%Net Income/Loss
$1946.00
1738.00
1588.00
1736.00
1470.00
1456.00
994.00
2187.00
2268.00
1811.00
2164.00
2183.00
840.00
806.00
2028.00
-6.76%151.61%Depreciation & Amortization
$325.00
361.00
407.00
455.00
514.00
530.00
583.00
611.00
672.00
673.00
662.00
784.00
1024.00
246.00
265.00
10.04%7.72%Increase/Decrease in Working Capital
$-154.00
-775.00
65.00
-350.00
-32.00
66.00
-331.00
410.00
-209.00
-554.00
365.00
1006.00
-2418.00
430.00
606.00
40.93%Share-based Compensation
$11.00
15.00
12.00
8.00
24.00
32.00
41.00
53.00
124.00
139.00
120.00
24.00
8.00
1.00
9.00
-2.62%800.00%Adjustments to Reconcile Net Income
$127.00
-206.00
501.00
530.00
589.00
479.00
1283.00
191.00
913.00
911.00
92.00
-221.00
3126.00
-311.00
-1752.00
30.60%-463.34%Net Cash (Operating)
$2073.00
1532.00
2089.00
2266.00
2059.00
1935.00
2277.00
2378.00
3181.00
2722.00
2256.00
1962.00
3966.00
495.00
276.00
5.56%-44.24%Capital Expenditure
$-688.00
-362.00
915.00
1294.00
923.00
669.00
1205.00
871.00
1009.00
626.00
766.00
4107.00
1505.00
193.00
402.00
108.29%Net Cash (Investing)
$-552.00
-982.00
-846.00
-1234.00
-918.00
-917.00
-1052.00
-974.00
-1150.00
-719.00
-873.00
-4172.00
-1643.00
-228.00
-406.00
-78.07%Increase/Decrease in Debt
$-104.00
-70.00
911.00
-39.00
-73.00
179.00
44.00
457.00
-163.00
1614.00
-32.00
2814.00
-1054.00
-128.00
763.00
696.09%Increase/Decrease in Equity
$-629.00
-256.00
-381.00
-670.00
-900.00
-778.00
-451.00
-1140.00
-1271.00
-553.00
-1346.00
-374.00
Dividends Paid
$255.00
340.00
420.00
512.00
622.00
676.00
701.00
718.00
761.00
782.00
809.00
855.00
921.00
222.00
239.00
11.30%7.66%Net Cash (Financing)
$-1025.00
-694.00
52.00
-1343.00
-1644.00
-1409.00
-1074.00
-1400.00
-2095.00
280.00
-2227.00
1669.00
-2177.00
-363.00
499.00
237.47%Effect of Exchange Rate
$-35.00
29.00
35.00
-87.00
-87.00
-200.00
98.00
-70.00
-110.00
-11.00
35.00
50.00
-68.00
-25.00
-7.00
72.00%Increase/Decrease in Cash
$461.00
-115.00
1330.00
-398.00
-590.00
-591.00
249.00
-66.00
-174.00
2272.00
-809.00
-491.00
78.00
-121.00
362.00
-13.76%399.17%Cash (Beginning)
$1023.00
1484.00
1369.00
2699.00
2301.00
1711.00
1120.00
1369.00
1303.00
1129.00
3401.00
2592.00
2101.00
2101.00
2179.00
6.18%3.71%Cash (Ending)
$1484.00
1369.00
2699.00
2301.00
1711.00
1120.00
1369.00
1303.00
1129.00
3401.00
2592.00
2101.00
2179.00
2541.00
3.25%NOPAT
$1953.29
1724.99
1574.51
1686.79
1493.23
1454.49
994.00
2213.22
2160.76
1757.55
2128.60
2268.18
909.74
803.65
842.79
-6.17%4.87%Gross Margin %
25.43%
26.01%
25.33%
25.29%
25.89%
25.43%
23.56%
24.13%
25.37%
24.70%
23.71%
23.93%
24.22%
24.00%
24.29%
Operating Margin %
14.85%
13.00%
12.14%
12.30%
10.76%
11.01%
10.95%
11.72%
11.45%
11.45%
11.27%
10.43%
5.17%
12.14%
10.98%
NOPAT Margin %
10.82%
9.95%
9.10%
8.78%
7.81%
8.31%
4.60%
9.31%
9.17%
8.87%
8.86%
8.08%
2.67%
9.51%
10.03%
Net Margin %
10.24%
9.49%
8.57%
8.59%
7.32%
7.96%
4.62%
9.01%
9.59%
9.03%
8.87%
7.66%
2.16%
9.35%
23.72%
Tax Rate %
27.14%
23.47%
25.06%
28.68%
27.41%
24.56%
57.97%
20.56%
19.97%
22.54%
21.34%
22.56%
48.34%
21.67%
8.69%
ROA
16.74%
13.75%
10.69%
10.69%
9.87%
9.69%
5.50%
11.61%
10.95%
7.77%
8.98%
7.49%
2.84%
2.56%
2.65%
ROE
33.50%
24.73%
20.01%
20.84%
19.27%
20.27%
12.18%
26.80%
25.53%
19.55%
22.64%
22.76%
9.19%
8.35%
9.30%
ROIC
30.44%
21.64%
17.89%
17.03%
15.76%
16.33%
9.57%
20.50%
20.05%
15.38%
17.12%
13.09%
6.82%
4.82%
5.77%
Asset Turnover
1.55
1.38
1.17
1.22
1.26
1.17
1.20
1.25
1.19
0.88
1.01
0.93
1.06
0.27
0.26
Inventory Turnover
6.29
5.77
5.43
5.01
5.23
4.88
5.22
4.80
5.05
4.36
4.21
3.81
4.55
1.09
1.10
Equity Multiplier
2.00
1.80
1.87
1.95
1.95
2.09
2.21
2.31
2.33
2.52
2.52
3.04
3.23
3.27
3.51
Current Ratio
1.94
2.29
2.57
2.25
2.09
1.78
1.57
1.54
1.50
1.88
1.74
1.27
1.18
1.29
1.34
Quick Ratio
1.10
1.23
1.59
1.30
1.19
0.96
0.88
0.84
0.82
1.21
1.01
0.68
0.65
0.69
0.73
Debt/Equity Ratio
0.12
0.11
0.22
0.21
0.21
0.26
0.25
0.30
0.28
0.46
0.44
0.79
0.68
0.81
0.75
Working Capital/Sales
0.20
0.26
0.28
0.28
0.26
0.25
0.20
0.20
0.18
0.25
0.24
0.24
0.13
0.72
0.44
R&D/Sales
0.03
0.04
0.04
0.04
0.04
0.04
0.03
0.04
0.04
0.05
0.05
0.05
0.04
0.04
0.04
Dividend Payout Ratio %
13.05%
19.71%
26.67%
30.35%
41.65%
46.48%
70.52%
32.44%
35.22%
44.49%
38.01%
37.70%
101.24%
27.62%
28.36%
Total Payout
$988.00
666.00
-110.00
1221.00
1595.00
1275.00
1108.00
1401.00
2195.00
-279.00
2187.00
-1585.00
1975.00
350.00
-524.00
5.94%-249.71%Payout Ratio %
50.58%
38.61%
-6.99%
72.39%
106.82%
87.66%
111.47%
63.30%
101.58%
-15.87%
102.74%
-69.88%
217.09%
43.55%
-62.17%