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Stocks/Industrials/Construction Machinery & Heavy Transportation Equipment

CumminsCMI

Construction Machinery & Heavy Transportation Equipment · Columbus, Indiana · In the S&P 500
Cheaper than peers
$500.09−3.46%After hours: $500.09 (0.00%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 13.3% over 1 year
Cummins over 1 yearDaily close, $, to 30 Oct 2026
$600$700Nov2026MarMayJulSep$500.09$600NovMarJul$500.09
Source: Nasdaq daily closes
Market value$68.84B
Price to earnings25.6x
Forward P/E15.1x
Dividend yield1.76%
Year to date−2.0%
One year+13.3%
Next earningsThu 5 Nov, before the open
SectorIndustrials
52-week range (closes)
$428.74$727.59

Quality and valuation

How Cummins compares with other industrials stocks. A description, not a recommendation.

Cummins and 7 construction machinery & heavy transportation equipment peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: weaker than mostValuation: cheaper than most

A weaker business than most industrials companies, priced below most of them.

Cummins trades at 15.1 times the next 12 months of expected earnings, against a median of 21.4x for the 89 industrials stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew slower than the sector median: +2.9% vs +8.2%
  • Keeps less of each sale (gross margin): 25.3% vs 38.1%
  • Less profitable (operating margin): 11.2% vs 17.5%
  • Turns less of its sales into cash: 9.7% vs 13.1%
CMI trades at 15.1x forward earnings, below the sector medianForward p/e, Construction Machinery & Heavy Transportation Equipment peers
CMI15.1xLMT20.6xCAT21.6xUNP22.3xRTX26.8xDE32.3xGE35.7xGEV40.8xSector median 21.4xCMI15.1xLMT20.6xCAT21.6xUNP22.3xRTX26.8xDE32.3xGE35.7xGEV40.8xSector median 21.4x
Source: CNBC quotes; Mostly Markets
At 25.6x earnings, CMI is pricier than its average since Aug 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
10x20x30xAverage 23.7x2025202625.6x10x20x30xAverage 23.7x2025202625.6x
Source: Nasdaq prices; SEC filings

Financials

From Cummins's SEC filings, through the quarter ending 30 Jun 2026. Hover or tap a bar for its value.

Revenue grew 9.4% from a year earlierQuarterly revenue, $bn, latest Q2 ’26
$0bn$2bn$5bn$8bnQ3 ’24Q1 ’25Q3 ’25$9.5bnQ2 ’26$0bn$5bnQ3 ’24Q1 ’25Q3 ’25$9.5bnQ2 ’26
Source: SEC filings
Growth sped up to +9.4% last quarterRevenue growth, year on year, %
0%5%Q3 ’24Q1 ’25Q3 ’259.4%Q2 ’260%5%Q3 ’24Q1 ’25Q3 ’259.4%Q2 ’26
Source: SEC filings
Operating margin was 13.5% last quarterOperating income as a share of revenue, %
0%5%10%Q3 ’24Q1 ’25Q3 ’2513.5%Q2 ’260%5%10%Q3 ’24Q1 ’25Q3 ’2513.5%Q2 ’26
Source: SEC filings
Free cash flow was $3.4 billion over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $bn
$0.0bn$0.5bn$1.0bnQ3 ’24Q1 ’25Q3 ’25$1.2bnQ2 ’26$0.0bn$0.5bn$1.0bnQ3 ’24Q1 ’25Q3 ’25$1.2bnQ2 ’26
Source: SEC filings
Last 12 monthsCMISector median
Revenue growth+2.9%+8.2%
Gross margin25.3%38.1%
Operating margin11.2%17.5%
Free cash flow margin9.7%13.1%
Price to earnings25.6x25.8x

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Similar companies

Construction Machinery & Heavy Transportation Equipment, by market value.

CompanyPriceTodayYTDValue
GEGE Aerospace$301.80−3.59%−2.0%$312B
CATCaterpillar$622.75−3.81%+8.7%$286B
RTXRTX$199.80+0.20%+8.9%$270B
GEVGE Vernova$857.87−3.38%+31.3%$227B
DEDeere &$675.48+2.35%+45.1%$182B
UNPUnion Pacific$304.00+0.69%+31.4%$181B
LMTLockheed Martin$636.95−1.03%+31.7%$147B
ETNEaton$369.97−6.03%+16.2%$144B