Cummins Inc. (CMI) quarterly income statement — complete revenue, gross profit & net income 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 |
|---|
| Sales/Revenue | 8.4B | 8.54B | 8.32B | 8.64B | 8.17B | 8.45B | 8.46B | 8.8B | 8.4B | 8.54B | 8.43B | 8.64B | 8.45B | 7.77B | 7.33B | 6.59B | 6.38B | 5.85B | 5.97B | 6.11B |
| Revenue Growth % | 2.74% | 1.05% | -1.64% | -1.74% | -2.73% | -1.12% | 0.3% | 1.83% | -0.59% | 9.95% | 14.97% | 31.16% | 32.39% | 32.82% | 22.87% | 7.77% | 4.81% | 0.34% | 16.61% | 58.64% |
| Cost of Goods Sold | 6.16B | 6.58B | 6.19B | 6.36B | 6.02B | 6.41B | 6.29B | 6.6B | 6.36B | 6.54B | 6.36B | 6.49B | 6.42B | 5.95B | 5.69B | 4.86B | 4.85B | 4.53B | 4.55B | 4.63B |
| COGS % of Revenue | 73.29% | 77.14% | 74.4% | 73.61% | 73.64% | 75.92% | 74.33% | 75.07% | 75.71% | 76.58% | 75.44% | 75.13% | 76% | 76.59% | 77.61% | 73.79% | 76.01% | 77.49% | 76.31% | 75.81% |
| Gross Profit | 2.24B | 1.95B | 2.13B | 2.28B | 2.15B | 2.03B | 2.17B | 2.19B | 2.04B | 2B | 2.07B | 2.15B | 2.03B | 1.82B | 1.64B | 1.73B | 1.53B | 1.32B | 1.41B | 1.48B |
| Gross Margin % | 26.71% | 22.86% | 25.6% | 26.39% | 26.36% | 24.08% | 25.67% | 24.93% | 24.29% | 23.42% | 24.56% | 24.87% | 24% | 23.41% | 22.39% | 26.21% | 23.99% | 22.51% | 23.69% | 24.19% |
| Gross Profit Growth % | 4.08% | -4.08% | -1.93% | 4.01% | 5.59% | 1.65% | 4.83% | 2.1% | 0.59% | 10.01% | 26.13% | 24.45% | 32.44% | 38.12% | 16.12% | 16.78% | 3.1% | -3.23% | 4.82% | 66.07% |
| Operating Expenses | 1.29B | 1.31B | 1.13B | 1.05B | 1.02B | 1.3B | 1.12B | 1.15B | 1.12B | 3.21B | 1.12B | 1.15B | 1B | 1.02B | 1.02B | 829M | 928M | 822M | 748M | 743M |
| OpEx % of Revenue | 15.41% | 15.36% | 13.63% | 12.21% | 12.49% | 15.41% | 13.26% | 13.05% | 13.3% | 37.61% | 13.3% | 13.32% | 11.87% | 13.09% | 13.86% | 12.59% | 14.53% | 14.05% | 12.53% | 12.16% |
| Selling, General & Admin | 845M | 786M | 789M | 779M | 754M | 801M | 807M | 828M | 809M | 751M | 831M | 873M | 722M | 742M | 708M | 622M | 615M | 629M | 571M | 600M |
| SG&A % of Revenue | 10.06% | 9.21% | 9.49% | 9.01% | 9.22% | 9.48% | 9.54% | 9.41% | 9.63% | 8.79% | 9.86% | 10.11% | 8.54% | 9.55% | 9.65% | 9.44% | 9.63% | 10.75% | 9.57% | 9.82% |
| Research & Development | 358M | 350M | 345M | 357M | 344M | 356M | 359M | 379M | 369M | 390M | 376M | 384M | 350M | 333M | 348M | 299M | 298M | 288M | 266M | 276M |
| R&D % of Revenue | 4.26% | 4.1% | 4.15% | 4.13% | 4.21% | 4.21% | 4.25% | 4.31% | 4.39% | 4.57% | 4.46% | 4.45% | 4.14% | 4.29% | 4.75% | 4.54% | 4.67% | 4.92% | 4.46% | 4.52% |
| Other Operating Expenses | 1000K | 1000K | 0 | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K |
| Operating Income | 949M | 640M | 995M | 1.23B | 1.13B | 732M | 1.05B | 1.04B | 923M | -1.21B | 950M | 997M | 1.03B | 802M | 626M | 897M | 604M | 495M | 666M | 735M |
| Operating Margin % | 11.3% | 7.5% | 11.96% | 14.18% | 13.87% | 8.67% | 12.42% | 11.88% | 10.98% | -14.19% | 11.27% | 11.54% | 12.14% | 10.32% | 8.54% | 13.62% | 9.46% | 8.46% | 11.16% | 12.03% |
| Operating Income Growth % | -16.31% | -12.57% | -5.24% | 17.32% | 22.86% | 160.4% | 10.53% | 4.81% | -10.04% | -251.12% | 51.76% | 11.15% | 69.87% | 62.02% | -6.01% | 22.04% | -25.43% | -21.3% | -0.6% | 118.75% |
| EBITDA | 888M | 908M | 1.27B | 1.5B | 1.4B | 1B | 1.32B | 1.31B | 1.19B | -948M | 1.21B | 1.25B | 1.27B | 1.04B | 842M | 1.06B | 765M | 660M | 826M | 902M |
| EBITDA Margin % | 10.57% | 10.64% | 15.29% | 17.41% | 17.16% | 11.87% | 15.56% | 14.87% | 14.14% | -11.1% | 14.32% | 14.52% | 15.05% | 13.41% | 11.48% | 16.16% | 11.98% | 11.28% | 13.84% | 14.76% |
| EBITDA Growth % | -36.71% | -9.47% | -3.34% | 15.06% | 18.1% | 205.8% | 9.03% | 4.31% | -6.6% | -190.98% | 43.35% | 17.86% | 66.27% | 57.88% | 1.94% | 17.96% | -21.94% | -17.81% | -1.2% | 80.04% |
| D&A (Non-Cash Add-back) | 0 | 268M | 277M | 279M | 269M | 271M | 266M | 263M | 265M | 264M | 257M | 257M | 246M | 240M | 216M | 167M | 161M | 165M | 160M | 167M |
| EBIT | 888M | 873M | 913M | 1.31B | 1.19B | 751M | 1.13B | 1.09B | 2.31B | -1.14B | 975M | 1.05B | 1.12B | 865M | 669M | 889M | 595M | 540M | 703M | 808M |
| Net Interest Income | -76M | -82M | -54M | -35M | -17M | -55M | -36M | -56M | -37M | -36M | -25M | -37M | -38M | -38M | -30M | -27M | -9M | 11M | -6M | -3M |
| Interest Income | 0 | 0 | 29M | 52M | 60M | 34M | 47M | 53M | 52M | 56M | 72M | 62M | 49M | 49M | 31M | 7M | 8M | 37M | 22M | 26M |
| Interest Expense | 76M | 82M | 83M | 87M | 77M | 89M | 83M | 109M | 89M | 92M | 97M | 99M | 87M | 87M | 61M | 34M | 17M | 26M | 28M | 29M |
| Other Income/Expense | -15M | 151M | -165M | -1M | -17M | -70M | -7M | -68M | 1.3B | -18M | -72M | -48M | 3M | -24M | -18M | -42M | -26M | 19M | 9M | 44M |
| Pretax Income | 934M | 791M | 830M | 1.23B | 1.12B | 662M | 1.04B | 977M | 2.22B | -1.23B | 878M | 949M | 1.03B | 778M | 608M | 855M | 578M | 514M | 675M | 779M |
| Pretax Margin % | 11.12% | 9.27% | 9.98% | 14.17% | 13.67% | 7.84% | 12.33% | 11.11% | 26.43% | -14.4% | 10.41% | 10.99% | 12.17% | 10.01% | 8.29% | 12.98% | 9.05% | 8.79% | 11.31% | 12.75% |
| Income Tax | 254M | 171M | 271M | 297M | 267M | 217M | 200M | 225M | 193M | 163M | 188M | 212M | 223M | 134M | 199M | 148M | 155M | 114M | 134M | 167M |
| Effective Tax Rate % | 27.19% | 21.62% | 32.65% | 24.24% | 23.9% | 32.78% | 19.18% | 23.03% | 8.69% | -13.25% | 21.41% | 22.34% | 21.67% | 17.22% | 32.73% | 17.31% | 26.82% | 22.18% | 19.85% | 21.44% |
| Net Income | 654M | 593M | 536M | 890M | 824M | 418M | 809M | 726M | 1.99B | -1.43B | 656M | 720M | 790M | 631M | 400M | 702M | 418M | 394M | 534M | 600M |
| Net Margin % | 7.79% | 6.95% | 6.44% | 10.3% | 10.08% | 4.95% | 9.57% | 8.25% | 23.72% | -16.75% | 7.78% | 8.34% | 9.35% | 8.12% | 5.45% | 10.66% | 6.55% | 6.73% | 8.95% | 9.82% |
| Net Income Growth % | -20.63% | 41.87% | -33.75% | 22.59% | -58.66% | 129.21% | 23.32% | 0.83% | 152.28% | -326.78% | 64% | 2.56% | 89% | 60.15% | -25.09% | 17% | -30.68% | -21.36% | 6.59% | 117.39% |
| Net Income (Continuing) | 680M | 620M | 559M | 928M | 850M | 445M | 843M | 752M | 2.03B | -1.39B | 690M | 737M | 806M | 644M | 409M | 707M | 423M | 400M | 541M | 612M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1.02B | 1.06B | 1.03B | 1.08B | 1.05B | 1.04B | 1.03B | 1.02B | 1.03B | 1.05B | 1.02B | 1.02B | 1.26B | 1.25B | 1.23B | 917M | 927M | 927M | 921M | 927M |
| EPS (Diluted) | 4.71 | 4.27 | 3.85 | 6.42 | 5.96 | 3.02 | 5.86 | 5.26 | 14.03 | -10.08 | 4.59 | 5.05 | 5.55 | 4.43 | 2.82 | 4.94 | 2.92 | 2.76 | 3.69 | 4.10 |
| EPS Growth % | -20.97% | 41.39% | -34.3% | 22.05% | -57.52% | 129.96% | 27.67% | 4.16% | 152.79% | -327.54% | 62.77% | 2.23% | 90.07% | 60.51% | -23.58% | 20.49% | -28.26% | -17.86% | 9.82% | 120.43% |
| EPS (Basic) | 4.73 | 4.29 | 3.88 | 6.46 | 5.99 | 3.04 | 5.90 | 5.30 | 14.10 | -10.08 | 4.63 | 5.08 | 5.58 | 4.47 | 2.83 | 4.97 | 2.94 | 2.76 | 3.72 | 4.14 |
| Diluted Shares Outstanding | 138.8M | 139M | 138.6M | 138.4M | 138.3M | 138.4M | 138.1M | 137.9M | 142.1M | 141.9M | 142.8M | 142.5M | 142.4M | 142.3M | 142M | 142M | 143.1M | 142.5M | 144.7M | 146.5M |
| Basic Shares Outstanding | 138.3M | 138.2M | 137.8M | 137.7M | 137.6M | 137.4M | 137.2M | 137.1M | 141.3M | 141.9M | 141.8M | 141.7M | 141.5M | 141.3M | 141.1M | 141.2M | 142.2M | 142.5M | 143.5M | 145.1M |
| Dividend Payout Ratio | - | 46.71% | 51.49% | 28.2% | 30.46% | 59.81% | 30.9% | 31.68% | 11.99% | - | 36.28% | 30.97% | 28.1% | 35.18% | 55.5% | 29.06% | 49.52% | 52.79% | 38.76% | 32.83% |