Cummins
ConvictionModerate
Designs, manufactures and services diesel/natural-gas engines, gensets, power-generation systems, and emissions/drivetrain components; sells to truck/equipment OEMs and end-users, monetizing a large installed base through a high-margin aftermarket parts + service (Distribution) annuity.
Revenue
$33.7BFY2025Rev growth
-1%FY2025 y/y); +3% (Q1 2026 y/y); guided +8% to +11% for FY2026Gross margin
25.3%FY2025Op margin
~11-12% EBITFY2025; EBITDA 16.0% of sales, $5.4BCapex intensity
~3.7% of revenueFY2025 capex ~$1.235BMarket cap
~$91.3BNYSE: CMI, Jul 2, 2026 closeThe read
Where our coverage leans
Coverage leans bullish
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
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- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07· sign in (free) for the analyst summary; Pro unlocks full intelligence