Cummins Inc. (CMI) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 309M | 1.53B | 1.3B | 785M | -3M | 1.42B | 640M | -851M | 276M | 1.46B | 1.53B | 483M | 495M | 817M | 382M | 599M | 164M | 732M | 569M | 616M |
| Operating CF Margin % | 3.68% | 17.97% | 15.69% | 9.08% | -0.04% | 16.83% | 7.57% | -9.67% | 3.28% | 17.08% | 18.14% | 5.59% | 5.86% | 10.51% | 5.21% | 9.1% | 2.57% | 12.51% | 9.53% | 10.08% |
| Operating CF Growth % | 10400% | 7.88% | 103.91% | 192.24% | -101.09% | -2.54% | -58.14% | -276.19% | -44.24% | 78.58% | 300.26% | -19.37% | 201.83% | 11.61% | -32.86% | -2.76% | -51.62% | -35.9% | -53.48% | 2900% |
| Net Income | 680M | 593M | 536M | 928M | 850M | 418M | 809M | 752M | 2.03B | -1.39B | 690M | 737M | 806M | 644M | 409M | 707M | 423M | 400M | 541M | 612M |
| Depreciation & Amortization | 282M | 280M | 277M | 279M | 269M | 271M | 266M | 263M | 265M | 264M | 257M | 257M | 246M | 240M | 216M | 167M | 161M | 165M | 160M | 167M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10M | 9M | 5M | 12M | 7M | 10M |
| Deferred Taxes | -12M | 18M | 206M | -113M | -25M | -103M | -7M | -61M | -38M | -219M | -106M | -94M | -38M | -80M | -82M | -46M | -66M | -37M | 27M | 9M |
| Other Non-Cash Items | -641M | 12M | 82M | 57M | -116M | 106M | 42M | 40M | -1.37B | 19M | 209M | -62M | -25M | 259M | -92M | -17M | 101M | 32M | -106M | -10M |
| Working Capital Changes | 0 | 631M | 204M | -366M | -981M | 730M | -470M | -1.84B | -606M | 2.79B | 479M | -355M | -494M | -246M | -79M | -221M | -460M | 160M | -60M | -172M |
| Change in Receivables | 0 | -146M | 177M | -186M | -457M | 189M | 270M | -150M | -11M | 117M | 188M | -14M | -621M | -364M | -81M | 165M | -417M | 179M | -22M | -5.12B |
| Change in Inventory | -333M | 407M | -10M | -105M | -331M | 324M | -257M | -115M | -354M | 318M | 85M | -140M | -263M | 30M | -99M | -209M | -289M | -26M | -291M | -292M |
| Change in Payables | 629M | -1M | -295M | -182M | 330M | -210M | -236M | -64M | 327M | -109M | -22M | -316M | 381M | 185M | -73M | -58M | 484M | -199M | 39M | -88M |
| Cash from Investing | -10M | -995M | -231M | -369M | -246M | -713M | -263M | -400M | -406M | -783M | -254M | -378M | -228M | -676M | -2.92B | -566M | -10M | -595M | -132M | -121M |
| Capital Expenditures | -189M | -544M | -298M | -231M | -162M | -540M | -259M | -240M | -169M | -519M | -280M | -221M | -193M | -463M | -222M | -160M | -115M | -388M | -164M | -136M |
| CapEx % of Revenue | 2.25% | 6.37% | 3.58% | 2.67% | 1.98% | 6.39% | 3.06% | 2.73% | 2.01% | 6.08% | 3.32% | 2.56% | 2.28% | 5.96% | 3.03% | 2.43% | 1.8% | 6.63% | 2.75% | 2.23% |
| Acquisitions | 0 | -110M | -6M | 6M | -12M | -224M | 0 | 1M | -59M | -165M | 7M | -134M | 0 | -183M | -2.76B | -349M | 51M | -51M | -7M | 34M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 4M | -33M | -72M | -22M | -47M | 489M | -83M | -81M | -230M | 2M | -35M | 24M | -54M | -27M | 9M | 2M | -1M | 10M | 18M | 28M |
| Cash from Financing | -517M | -259M | -827M | 332M | 92M | -737M | -243M | 308M | 499M | -1.11B | -466M | -240M | -363M | -442M | 2.5B | 106M | -497M | -148M | -357M | -977M |
| Debt Issued (Net) | 0 | -45M | -531M | 641M | 389M | -462M | 33M | 581M | 763M | -876M | -29M | -21M | -128M | -293M | 2.75B | 350M | 3M | 206M | 0 | -134M |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -40M | -6M | -26M | -302M | -145M | -137M | -664M |
| Dividends Paid | -276M | -277M | -276M | -251M | -251M | -250M | -250M | -230M | -239M | -238M | -238M | -223M | -222M | -222M | -222M | -204M | -207M | -208M | -207M | -197M |
| Share Repurchases | -243M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4M | -23M | -36M | -311M | -174M | -138M | -672M |
| Other Financing | -241M | 63M | -20M | -58M | -46M | -25M | -26M | -43M | -25M | 6M | -199M | 4M | -13M | 113M | -24M | -14M | 9M | -1M | -12M | 18M |
| Net Change in Cash | -231M | 279M | 247M | 787M | -139M | -62M | 143M | -951M | 362M | -433M | 810M | -178M | -121M | -398M | 37M | 186M | -316M | 4M | 107M | -477M |
| Free Cash Flow | 120M | 990M | 1.01B | 554M | -165M | 882M | 381M | -1.09B | 107M | 940M | 1.25B | 262M | 302M | 354M | 160M | 439M | 49M | 344M | 405M | 480M |
| FCF Margin % | 1.43% | 11.6% | 12.11% | 6.41% | -2.02% | 10.44% | 4.51% | -12.4% | 1.27% | 11% | 14.81% | 3.03% | 3.57% | 4.56% | 2.18% | 6.67% | 0.77% | 5.88% | 6.79% | 7.85% |
| FCF Growth % | 172.73% | 12.24% | 164.3% | 150.78% | -254.21% | -6.17% | -69.5% | -516.41% | -64.57% | 165.54% | 680.63% | -40.32% | 516.33% | 2.91% | -60.49% | -8.54% | -79.67% | -60.37% | -63.01% | 528.57% |
| FCF per Share | 0.86 | 7.12 | 7.27 | 4.00 | -1.19 | 6.37 | 2.76 | -7.91 | 0.75 | 6.62 | 8.75 | 1.84 | 2.12 | 2.49 | 1.13 | 3.09 | 0.34 | 2.41 | 2.80 | 3.28 |
| FCF Conversion (FCF/Net Income) | 0.47x | 2.59x | 2.43x | 0.88x | -0.00x | 3.40x | 0.79x | -1.17x | 0.14x | -1.02x | 2.33x | 0.67x | 0.63x | 1.29x | 0.96x | 0.85x | 0.39x | 1.86x | 1.07x | 1.03x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |