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CMI Cummins

Cummins, Inc. designs, manufactures and markets diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems and New Power. The Engine segment manufactures and markets diesel and natural gas powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, agricultural, construction, mining, marine, oil and gas, rail and governmental equipment markets. The Distribution segment consists of parts, engines, power generation and service, which service and distributes its products and services. The Components segment supplies products such as, aftertreatment systems, turbochargers, transmissions, filtration products, electronics and fuel systems for commercial diesel and natural gas applications. The Power Systems segment engages in power generation, industrial and generator technologies. The New Power segment designs, manufactures, sells and supports electrified power systems with components and subsystems, including battery, fuel cell and hydrogen production technologies. The company was founded by Clessie Lyle Cummins and William Glanton Irwin on February 3, 1919 and is headquartered in Columbus, IN.

Company profile

Ticker
CMI
Exchange
CEO
Norman Linebarger
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
CUMMINS ENGINE CO INC
SEC CIK
IRS number
350257090

CMI stock data

(
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Calendar

4 May 21
28 Jul 21
31 Dec 21
Quarter (USD)
Apr 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Cummins earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 2.96B 2.96B 2.96B 2.96B 2.96B 2.96B
Cash burn (monthly) 147.67M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 558.84M n/a n/a n/a n/a n/a
Cash remaining 2.4B n/a n/a n/a n/a n/a
Runway (months of cash) 16.2 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
11 May 21 Leo Allen Bruno V Di Common Stock Grant Aquire A No No 0 575 0 8,499
11 May 21 ChangDiaz Franklin R Common Stock Grant Aquire A No No 0 575 0 8,620
11 May 21 Bernhard Robert J Common Stock Grant Aquire A No No 0 575 0 15,943.33
11 May 21 Kimberly A Nelson Common Stock Grant Aquire A No No 0 575 0 1,311.339

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

79.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 1203 1150 +4.6%
Opened positions 143 173 -17.3%
Closed positions 90 77 +16.9%
Increased positions 423 408 +3.7%
Reduced positions 444 389 +14.1%
13F shares
Current Prev Q Change
Total value 30.35B 27.56B +10.1%
Total shares 117.12M 121.36M -3.5%
Total puts 947.16K 1.31M -27.6%
Total calls 1.02M 885.98K +15.6%
Total put/call ratio 0.9 1.5 -37.4%
Largest owners
Shares Value Change
BLK Blackrock 13.72M $3.55B +5.3%
Vanguard 13.02M $3.37B +0.3%
STT State Street 6.93M $1.79B -1.1%
TROW T. Rowe Price 4.54M $1.18B -11.0%
Capital Research Global Investors 3.27M $846.53M +11.0%
FMR 2.88M $745.79M +6.0%
Geode Capital Management 2.63M $678.67M -2.7%
LSV Asset Management 2.2M $570.88M -10.4%
NTRS Northern Trust 2.15M $557.63M -2.9%
Hotchkis & Wiley Capital Management 2.03M $525.53M -3.5%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -1.98M EXIT
BEN Franklin Resources 354.19K -1.24M -77.8%
First Trust Advisors 1.3M +761.46K +140.9%
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 179.79K -702.96K -79.6%
Boston Partners 647.77K -700.95K -52.0%
BLK Blackrock 13.72M +686.58K +5.3%
Loomis Sayles & Co L P 594.9K +594.9K NEW
TROW T. Rowe Price 4.54M -560.94K -11.0%
Charles Schwab Investment Management 1.79M -377.82K -17.4%
Capital Research Global Investors 3.27M +324.54K +11.0%

Financial report summary

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Risks
  • We are conducting a formal internal review of our emission certification process and compliance with emission standards with respect to our pick-up truck applications and are working with the EPA and CARB to address their questions about these applications. The results of this formal review and regulatory processes, or the discovery of any noncompliance issues, could have a material adverse impact on our results of operations and cash flows.
  • We operate our business on a global basis and policy changes affecting international trade could adversely impact the demand for our products and our competitive position.
  • The U.K.’s exit from the European Union (EU) could materially and adversely impact our results of operations, financial condition and cash flows.
  • Unanticipated changes in our effective tax rate, the adoption of new tax legislation or exposure to additional income tax liabilities could adversely affect our profitability.
  • Our global operations are subject to laws and regulations that impose significant compliance costs and create reputational and legal risk.
  • Our operations are subject to increasingly stringent environmental laws and regulations.
  • Future bans or limitations on the use of diesel-powered vehicles or other applications could have a material adverse impact on our business over the long term.
  • We are vulnerable to supply shortages from single-sourced suppliers, including suppliers that may be impacted by the COVID-19 pandemic, and any delay in receiving critical supplies could have a material adverse effect on our results of operations, financial condition and cash flows.
  • A sustained market slowdown due to the impacts from the COVID-19 pandemic, other public health crises, epidemics or pandemics or otherwise, could have a material and adverse effect on our results of operations, financial condition and cash flows.
  • Our manufacturing and supply chain abilities may be materially and adversely impacted by an extended shutdown or disruption of our operations due to the COVID-19 pandemic which could materially and adversely affect our results of operations, financial condition and cash flows.
  • We face the challenge of accurately aligning our capacity with our demand.
  • Our truck manufacturers and OEM customers discontinuing outsourcing their engine supply needs, financial distress, particularly related to the COVID-19 pandemic or bankruptcy, or a change-in-control of one of our large truck OEM customers could have a material adverse impact on our results of operations, financial condition and cash flows.
  • A slowdown in infrastructure development and/or depressed commodity prices could adversely affect our business.
  • We may fail to realize all of the expected enhanced revenue, earnings and cash flow from our investment in the Eaton Cummins Automated Transmission Technologies joint venture.
  • We derive significant earnings from investees that we do not directly control, with more than 50 percent of these earnings from our China-based investees.
  • Our products are subject to recall for performance or safety-related issues.
  • Lower-than-anticipated market acceptance of our new or existing products or services could have a material adverse impact on our results of operations, financial condition and cash flows.
  • Our products are exposed to variability in material and commodity costs.
  • Our business is exposed to potential product liability claims.
  • The COVID-19 pandemic created disruptions and turmoil in global credit and financial markets and ongoing impacts could have a material adverse effect on our results of operations, financial condition and cash flows.
  • We may be adversely impacted by work stoppages and other labor matters.
  • We rely on our executive leadership team and other key personnel as a critical part of our human capital resources.
  • Our plan to reposition our portfolio of product offerings through exploration of strategic acquisitions and divestitures may expose us to additional costs and risks.
  • Our information technology systems and our products are exposed to potential security breaches or other disruptions which may adversely impact our competitive position, reputation, results of operations, financial condition and cash flows.
  • We are exposed to political, economic and other risks that arise from operating a multinational business.
  • We face significant competition in the regions we serve.
  • Increasing global competition among our customers may affect our existing customer relationships and restrict our ability to benefit from some of our customers' growth.
  • We are subject to foreign currency exchange rate and other related risks.
  • Significant declines in future financial and stock market conditions, particularly those related to the global recession due to the COVID-19 pandemic, could diminish our pension plan asset performance and adversely impact our results of operations, financial condition and cash flow.
  • We are exposed to risks arising from the price and availability of energy.
Management Discussion
  • Worldwide revenues increased 22 percent in the three months ended April 4, 2021, compared to the same period in 2020, due to higher demand in all operating segments and most geographic regions of the world. International demand (excludes the U.S. and Canada) improved 45 percent primarily due to higher sales in most geographic regions. The increase in international sales was principally due to higher demand in all components businesses (primarily in China and India), stronger demand in China due to an improved COVID-19 environment over the comparable period in 2020, higher off-highway demand (mainly construction markets in China), higher demand for power generation equipment and favorable foreign currency impacts of 3 percent of international sales (primarily the Chinese renminbi and Euro, partially offset by the Brazilian real). Net sales in the U.S. and Canada improved 7 percent, primarily due to increased demand in North American on-highway markets, which also positively impacted all of our components businesses, partially offset by reduced sales in our distribution product lines resulting from supply chain constraints.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Good
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