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Screener / SEC EDGAR /CIK 0000026172 /10-K filed Feb 10, 2026, compared with Feb 11, 2025 /Numbers from the XBRL of the 10-Ks
Industrials peers:
ETNLUVFERGCMIHONPWR
NYSE Industrials · Engines

Cummins CMI

CMI quote by TradingView

We were founded in 1919 as Cummins Engine Company, a corporation in Columbus, Indiana, and one of the first diesel engine manufacturers. 10-K, Item 1

Headquarters
Columbus, IN
CEO
Jennifer W. Rumsey
Next results
around Feb 4, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $33.7B through the costs to a net profit of $2.8B · income statement of the 10-K

12% operating margin
Revenue to Gross profit: $8.5BRevenue to Cost of revenue: $25.2BGross profit to Operating profit: $4.0BGross profit to Operating expenses: $4.5BOperating profit to Net profit: $2.8BOperating profit to Tax & other: $1.2BOperating expenses to R&D: $1.4BOperating expenses to SG&A: $3.1B Revenue: $33.7B REVENUE $33.7B −1% Y/Y Gross profit: $8.5B · 25% margin GROSS PROFIT $8.5B 25% margin · +1% Y/Y Cost of revenue: $25.2B · 75% of revenue COST OF REVENUE $25.2B 75% of revenue Operating profit: $4.0B · 12% margin OPERATING PROFIT $4.0B 12% margin · +7% Y/Y Operating expenses: $4.5B · 13% of revenue OPERATING EXPENSES $4.5B 13% of revenue Net profit: $2.8B · 8% margin NET PROFIT $2.8B 8% margin · −28% Y/Y Tax & other: $1.2B · 4% of revenue TAX & OTHER $1.2B 4% of revenue R&D: $1.4B · 4% of revenue R&D $1.4B 4% of revenue SG&A: $3.1B · 9% of revenue SG&A $3.1B 9% of revenue
Gross profit $8.5B 25% margin · +1% Y/Y
Operating profit $4.0B 12% margin · +7% Y/Y
Net profit $2.8B 8% margin · −28% Y/Y
The full income statement, year by year

CMI among Industrials peers

Six ratios from the latest 10-K. Each corner is the share of 81 peers the company is above, not a score.

Compare
Revenue growth: -1.3%, above 14% of 81 peers (their median 4.9%) REVENUE GROWTH -1.3% · above 14% Gross margin: 25.9%, above 18% of 51 peers (their median 38.6%) GROSS MARGIN 25.9% · above 18% Operating margin: 12.5%, above 37% of 71 peers (their median 17.5%) OPERATING MARGIN 12.5% · above 37% Net margin: 9.3%, above 33% of 81 peers (their median 13.0%) NET MARGIN 9.3% · above 33% FCF margin: 9.7%, above 27% of 78 peers (their median 13.3%) FCF MARGIN 9.7% · above 27% Return on capital: 14.7%, above 57% of 65 peers (their median 13.8%) RETURN ON CAPITAL 14.7% · above 57%
CMI Peer median Below the median

What changed

9 new risk paragraphs and 2 accounting facts worth reading about. 10-K filed Feb 10, 2026 against Feb 11, 2025.

Risk factors
9 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Receivables growing faster than revenue
Receivables +12.3% vs revenue -1.3% (+13.6 pts)
10-K · XBRL
Critical audit matters changed
New this year: Annual Goodwill Impairment Test - Drivetrain and Braking Systems Reporting Unit (“As described in Notes 1 and 9 to the consolidated financial statements, the Company’s consolidated goodwill balance was $ 2,224 million as of December 31, 2025, of which 34 percent relates to the drivetrain and braking systems reporting unit. Management performs the annual goodwill impairment test a”). No longer listed: Goodwill Impairment Test as of the End of the Fiscal Third Quarter - Drivetrain and Braking Systems Reporting Unit
10-K · XBRL
Accounting checks
9 other checks clear, 2 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

2facts worth reading about the other 9 checks found nothing to note

  • Receivables growing faster than revenue
    Receivables +12.3% vs revenue -1.3% (+13.6 pts)
  • Critical audit matters changed
    New this year: Annual Goodwill Impairment Test - Drivetrain and Braking Systems Reporting Unit (“As described in Notes 1 and 9 to the consolidated financial statements, the Company’s consolidated goodwill balance was $ 2,224 million as of December 31, 2025, of which 34 percent relates to the drivetrain and braking systems reporting unit. Management performs the annual goodwill impairment test a”). No longer listed: Goodwill Impairment Test as of the End of the Fiscal Third Quarter - Drivetrain and Braking Systems Reporting Unit
  • Cash from operations $3.6B vs net income $3.0B (FY ending Dec 31, 2025)
8 more checks with nothing to note
  • Inventory +1.4% vs revenue -1.3% (+2.7 pts)
  • Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

9 paragraphs in Risk Factors that were not in the 10-K filed Feb 11, 2025. Quoted as filed.

All 9 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 11, 2025 10-K, ITEM 1A
    We manufacture, sell and service products globally and rely upon a global supply chain to deliver the raw materials, components, systems and parts that we need to manufacture and service our products. There is currently significant uncertainty about the future relationship between the U.S. and various other countries with respect to…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 11, 2025 10-K, ITEM 1A
    Deregulation could impair our investments in future products and negatively impact our long-term growth and competitiveness. Our strategy includes significant investments in the development of new products and technologies, particularly those designed to meet or exceed current and anticipated regulatory requirements related to…
  3. Item 1A · new paragraph · not in the 10-K filed Feb 11, 2025 10-K, ITEM 1A
    If the energy transition landscape changes faster than anticipated or in a manner that we do not anticipate, demand for our products and services, as well as our relationships with various stakeholders, could be adversely affected. Alternatively, if the energy transition occurs more slowly than anticipated, demand for our new products…
  4. Item 1A · new paragraph · not in the 10-K filed Feb 11, 2025 10-K, ITEM 1A
    We are incorporating AI solutions into our business, products, services and features, and we are leveraging AI, including generative AI, machine learning and similar tools and technologies, in our product development, operations and software programming. There is inherent risk and uncertainty involved in using AI. The use of AI in the…

New risk paragraphs, against peers

Latest 10-K of each, Industrials companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$28.1B$34.1B$34.1B$33.7B
Net income$2.2B$735.0M$3.9B$2.8B
Operating cash flow$2.0B$4.0B$1.5B$3.6B
Free cash flow$1.0B$2.8B$279.0M$2.4B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$33.7B ▼ 1.3% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Cummins, Columbus, IN · from the 10-K filed Feb 10, 2026

We were founded in 1919 as Cummins Engine Company, a corporation in Columbus, Indiana, and one of the first diesel engine manufacturers. In 2001, we changed our name to Cummins Inc. We are a global power leader committed to powering a more prosperous world. Since 1919, we have delivered innovative solutions that move people, goods and economies forward.

Headquarters
Columbus, IN
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Nov 5, 2026
Incorporated in
IN

Email alerts

Sources

The 10-K filed Feb 10, 2026 (open at SEC), compared with the 10-K filed Feb 11, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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