CUMMINS INC
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | 7,239 | 37.0 |
| Stockholders' equity | 12,349 | 63.0 |
| Total capitalization | 19,588 | 100.0 |
137,664,487 shares outstanding at 30 June 2026 (cover page of the 10-Q filed 4 August 2026).
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Long-term debt, noncurrent | 6,792 |
| Current maturities | 94 |
| Short-term borrowings / commercial paper | 353 |
CAPITAL STOCK 12/31/25
| Common shares authorized | 500,000,000 |
| Common shares issued | 222,500,000 |
| Treasury shares | 84,400,000 |
| Par or stated value per share ($) | 2.5 |
| Outstanding at 6/30/26 | 137,664,487 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | 7.64 | 37.3 |
| 2024 | 7.00 | 24.7 |
| 2023 | 6.50 | 126.2 |
| 2022 | 6.04 | 39.9 |
| 2021 | 5.60 | 38.3 |
HISTORY AND BUSINESS
HISTORY: Incorporated in Indiana. Formerly known as CUMMINS ENGINE CO INC (to 29 August 2001).
BUSINESS: Classified by the SEC under Standard Industrial Classification 3510, Engines & Turbines. Large accelerated filer. Principal executive office: 500 Jackson St, Box 3005 Mail Code 93050, Columbus, IN 47202-3005. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Revenues | 33,670 | 34,102 | 34,065 |
| Cost of revenues | 25,154 | 25,663 | 25,816 |
| Gross profit | 8,516 | 8,439 | 8,249 |
| Research and development | 1,396 | 1,463 | 1,500 |
| Selling, general and administrative | 3,125 | 3,275 | 3,333 |
| Depreciation and amortization | 1,105 | 1,065 | 1,024 |
| Operating income | 4,025 | 3,750 | 1,761 |
| Interest expense | 329 | 370 | 375 |
| Income before income taxes | 3,963 | 4,903 | 1,626 |
| Income taxes | 1,006 | 835 | 786 |
| Net income | 2,957 | 4,068 | 840 |
| Earned per share, diluted ($) | 20.50 | 28.37 | 5.15 |
| Dividends per share ($) | 7.64 | 7.00 | 6.50 |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Inventories | 5,822 | 5,742 |
| Total current assets | 16,925 | 14,752 |
| Property, plant and equipment, net | 6,958 | 6,356 |
| Goodwill | 2,224 | 2,370 |
| Total assets | 33,992 | 31,540 |
| Total current liabilities | 9,610 | 11,234 |
| Long-term debt | 6,792 | 4,784 |
| Total liabilities | 20,584 | 20,232 |
| Stockholders' equity | 12,349 | 10,271 |
| Total liabilities and equity | 33,992 | 31,540 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Capital expend. | Free cash flow | Total assets | Total liabilities | Total debt | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 33,670 | 4,025 | 2,843 | 8.4 | 20.50 | 7.64 | 3,621 | 1,235 | 2,386 | 33,992 | 20,584 | 7,239 | 12,349 | 23.0 | 0.59 |
| 12/31/24 | 34,102 | 3,750 | 3,946 | 11.6 | 28.37 | 7.00 | 1,487 | 1,208 | 279 | 31,540 | 20,232 | 6,703 | 10,271 | 38.4 | 0.65 |
| 12/31/23 | 34,065 | 1,761 | 735 | 2.2 | 5.15 | 6.50 | 3,966 | 1,213 | 2,753 | 32,005 | 22,101 | 6,416 | 8,850 | 8.3 | 0.72 |
| 12/31/22 | 28,074 | 2,929 | 2,151 | 7.7 | 15.12 | 6.04 | 1,962 | 916 | 1,046 | 30,299 | 20,074 | 7,645 | 8,975 | 24.0 | 0.85 |
| 12/31/21 | 24,021 | 2,706 | 2,131 | 8.9 | 14.61 | 5.60 | 2,256 | 734 | 1,522 | 23,710 | 14,309 | 3,951 | 8,146 | 26.2 | 0.49 |
| 12/31/20 | 19,811 | 2,269 | 1,789 | 9.0 | 12.01 | 5.28 | 2,722 | 528 | 2,194 | 22,624 | 13,635 | 3,995 | 8,062 | 22.2 | 0.50 |
| 12/31/19 | 23,571 | 2,700 | 2,260 | 9.6 | 14.48 | 4.90 | 3,181 | 700 | 2,481 | 19,737 | 11,272 | 2,267 | 7,507 | 30.1 | 0.30 |
| 12/31/18 | 23,771 | 2,786 | 2,141 | 9.0 | 13.15 | 4.44 | 2,378 | 709 | 1,669 | 19,062 | 10,803 | 2,422 | 7,348 | 29.1 | 0.33 |
| 12/31/17 | 20,428 | 2,334 | 999 | 4.9 | 5.97 | 4.21 | 2,277 | 506 | 1,771 | 18,075 | 9,911 | 1,949 | 7,259 | 13.8 | 0.27 |
| 12/31/16 | 17,509 | 1,880 | 1,394 | 8.0 | 8.23 | – | 1,939 | 531 | 1,408 | 15,011 | 7,837 | 1,815 | 6,875 | 20.3 | 0.26 |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
CUMMINS INC
CIK 26172 · EIN 35-0257090
PRINCIPAL OFFICE:
500 Jackson St, Box 3005 Mail Code 93050, Columbus, IN 47202-3005
Tel.: 8123773842
INCORPORATED:
Indiana
INDUSTRY (SEC SIC CODE):
3510 · Engines & Turbines
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 10 February 2026
FORMER NAMES:
CUMMINS ENGINE CO INC
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/10/26) · 10-K FY2024 (filed 2/11/25) · 10-K FY2023 (filed 2/12/24) · 10-K FY2022 (filed 2/14/23) · 10-K FY2021 (filed 2/8/22) · 10-K FY2020 (filed 2/10/21) · 10-K FY2019 (filed 2/11/20) · 10-K FY2018 (filed 2/11/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.