Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company's products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 57,825 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $1.8 billion on sales of $19.8 billion in 2020.

Company profile
Ticker
CMI
Exchange
Website
CEO
Norman Linebarger
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
CUMMINS ENGINE CO INC
SEC CIK
Corporate docs
Subsidiaries
Apollo FC Holdings Ltd. • Atlantis Holdco UK Limited • AVK Holdco UK Limited • Centro de Fomento para Inclusión, S. de R.L. de C.V. • Cherry Island Renewable Energy, LLC • CMI 2020 Holdings LLC • CMI Africa Holdings BV • CMI Canada Financing Ltd. • CMI Canada LP • CMI Foreign Holdings B.V. ...
IRS number
350257090
CMI stock data
News

Starbucks To $93? Plus JP Morgan Predicts This PT For AMD
3 Aug 22
Credit Suisse Maintains Outperform on Cummins, Raises Price Target to $266
3 Aug 22
Cummins Clocks 8% Sales Growth In Q2, Reiterates FY22 Outlook
2 Aug 22
Recap: Cummins Q2 Earnings
2 Aug 22
Cummins Q2 EPS $4.94 Beats $4.35 Estimate, Sales $6.59B Beat $6.48B Estimate
2 Aug 22
Press releases
Cummins Completes Acquisition of Meritor
3 Aug 22
Cummins Reports Second Quarter 2022 Results
2 Aug 22
AdaptHealth Set to Join S&P SmallCap 600
1 Aug 22
Cummins collaborates with company pioneering energy storage technology to advance Destination Zero strategy
29 Jul 22
AGCO Announces Chief Supply Chain Officer Succession
21 Jul 22
Analyst ratings and price targets
Current price
Average target
$214.75
Low target
$187.00
High target
$266.00
Credit Suisse
Maintains
$266.00
Bernstein
Downgraded
$190.00
Morgan Stanley
Maintains
$187.00
Deutsche Bank
Maintains
$216.00
Calendar
3 Aug 22
9 Aug 22
31 Dec 22
Financial summary
Quarter (USD) | Jun 22 | Mar 22 | Dec 21 | Oct 21 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 2.46B | 2.46B | 2.46B | 2.46B | 2.46B | 2.46B |
Cash burn (monthly) | (no burn) | 1.58M | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | n/a | 2.12M | n/a | n/a | n/a | n/a |
Cash remaining | n/a | 2.46B | n/a | n/a | n/a | n/a |
Runway (months of cash) | n/a | 1553.6 | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
11 Jul 22 | Gary L Belske | Common Stock | Grant | Acquire A | No | No | 0 | 817 | 0 | 817 |
25 May 22 | ChangDiaz Franklin R | Common Stock | Sell | Dispose S | No | No | 199.62 | 1,560 | 311.41K | 4,842 |
25 May 22 | Norbert Nusterer | Common Stock | Option exercise | Acquire M | No | No | 111.84 | 1,100 | 123.02K | 17,730 |
25 May 22 | Norbert Nusterer | Common Stock | Option exercise | Acquire M | No | No | 109.09 | 2,200 | 240K | 16,630 |
25 May 22 | Norbert Nusterer | Stock Option (Right-to-Buy) Common | Option exercise | Dispose M | No | No | 109.09 | 2,200 | 240K | 4,105 |
25 May 22 | Norbert Nusterer | Stock Option (Right-to-Buy) Common | Option exercise | Dispose M | No | No | 111.84 | 1,100 | 123.02K | 0 |
Institutional ownership, Q1 2022
91.9% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 1190 |
Opened positions | 101 |
Closed positions | 150 |
Increased positions | 517 |
Reduced positions | 374 |
13F shares | Current |
---|---|
Total value | 23.24B |
Total shares | 113.45M |
Total puts | 1.09M |
Total calls | 1.06M |
Total put/call ratio | 1.0 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 12.87M | $2.64B |
BLK Blackrock | 12.3M | $2.52B |
STT State Street | 6.64M | $1.36B |
TROW T. Rowe Price | 3.07M | $628.7M |
Capital Research Global Investors | 2.86M | $587.56M |
Geode Capital Management | 2.78M | $568.11M |
Charles Schwab Investment Management | 2.37M | $486.14M |
AMP Ameriprise Financial | 2.17M | $445.78M |
LSV Asset Management | 2.14M | $438.5M |
NTRS Northern Trust | 2.07M | $424.26M |
Financial report summary
?Competition
Regal Rexnord • Coates International • Capstone Green Energy • Clean Energy • Cool • Pioneer Power Solutions • Generac • CNH Industrial • Polar Power • ASVRisks
- 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. Due to the continuing nature of our formal internal review and on-going discussions with the EPA and CARB, we cannot predict the final results of this formal review and these regulatory processes, nor whether, or the extent to which, they could have a material adverse impact on our results of operations and cash flows.
- The ongoing conflict between Russia and Ukraine, and the global response (including government bans or restrictions on doing business in Russia), could have a material adverse impact on our results of operations, financial condition and cash flows.
- Failure to successfully integrate the acquisition of Meritor, Inc. (Meritor) could have a material adverse impact on our results of operations, financial condition and cash flows.
- We may fail to fully realize all of the anticipated benefits, including enhanced revenue, earnings, and cash flow from our acquisition of Meritor.
Management Discussion
- Our industry's sales continue to be unfavorably impacted by supply chain constraints leading to shortages across multiple components categories and limiting our collective ability to meet end-user demand. Our customers are also experiencing other supply chain issues limiting full production capabilities.
- Worldwide revenues increased 8 percent in the three months ended June 30, 2022, compared to the same period in 2021, due to favorable pricing and higher demand in most operating segments and most geographic regions except for China. Net sales in the U.S. and Canada improved 15 percent, primarily due to favorable pricing and increased demand in North American on-highway markets, which positively impacted all components businesses, and most distribution product lines. International demand (excludes the U.S. and Canada) declined 2 percent, with lower sales in China (due to a sharp slowdown in truck and construction markets, exacerbated by COVID lockdowns) and Russia, partially offset by higher sales in all other geographic regions. The decrease in international sales was principally due to lower demand in China as the result of COVID-related lockdowns significantly reducing demand in most businesses. Unfavorable foreign currency fluctuations impacted international sales by 3 percent (primarily the Euro, British pound and Indian rupee).
- Worldwide revenues increased 6 percent in the six months ended June 30, 2022, compared to the same period in 2021, due to favorable pricing and higher demand in most operating segments and most geographic regions except for China. Net sales in the U.S. and Canada improved 14 percent, primarily due to favorable pricing and increased demand in North American on-highway markets, which positively impacted all components businesses and all distribution product lines. International demand (excludes the U.S. and Canada) declined by 3 percent, with lower sales in China (due to a sharp slowdown in truck and construction markets, exacerbated by COVID lockdowns), partially offset by higher sales in all other geographic regions. The decrease in international sales was principally due to lower demand in China as the result of COVID-related lockdowns significantly reducing demand in most businesses. Unfavorable foreign currency fluctuations impacted international sales by 2 percent (primarily the Euro, British pound and Indian rupee).
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Good
|
New words:
adding, ahead, approach, assigned, axle, blocked, combustion, contributory, cylinder, deactivation, deducted, deductible, determined, drawn, drew, exacerbated, extricate, extrication, hierarchy, Indian, inflationary, initial, intangible, isolate, Jacob, Japanese, JV, List, marketplace, method, obsolescence, obtain, people, preliminary, prospective, recognition, recovered, recovery, relationship, relief, repaid, reserved, robust, rupee, sharp, small, stream, SUBSEQUENT, tangible, term, thermal, transferred, yen
Removed:
approval, Asia, closed, fee, number, Pacific, President, ranging, transmission
Financial reports
Current reports
8-K
Cummins Completes Acquisition of Meritor
3 Aug 22
8-K
Cummins Reports Second Quarter 2022 Results
2 Aug 22
8-K
Entry into a Material Definitive Agreement
19 Jul 22
8-K
Departure of Directors or Certain Officers
14 Jul 22
8-K
Cummins Elects Gary Belske to its Board of Directors
11 Jul 22
8-K
Submission of Matters to a Vote of Security Holders
11 May 22
8-K
Cummins Reports First Quarter 2022 Results
3 May 22
8-K
Entry into a Material Definitive Agreement
24 Feb 22
8-K
Regulation FD Disclosure
22 Feb 22
8-K
Cummins elects Jennifer Rumsey to its Board of Directors
11 Feb 22
Registration and prospectus
S-3ASR
Automatic shelf registration
8 Feb 22
424B5
Prospectus supplement for primary offering
18 Aug 20
FWP
Free writing prospectus
17 Aug 20
424B5
Prospectus supplement for primary offering
17 Aug 20
S-3ASR
Automatic shelf registration
13 Feb 19
S-8
Registration of securities for employees
30 May 17
S-8
Registration of securities for employees
30 May 17
S-3ASR
Automatic shelf registration
15 Feb 16
S-8 POS
Registration of securities for employees (post-effective amendment)
23 Sep 14
424B5
Prospectus supplement for primary offering
19 Sep 13
Proxies
DEFA14A
Additional proxy soliciting materials
26 Apr 22
DEFA14A
Additional proxy soliciting materials
28 Mar 22
DEFA14A
Additional proxy soliciting materials
27 Apr 21
DEFA14A
Additional proxy soliciting materials
29 Mar 21
DEFA14A
Additional proxy soliciting materials
28 Apr 20
DEFA14A
Additional proxy soliciting materials
28 Apr 20
DEFA14A
Additional proxy soliciting materials
30 Mar 20
DEF 14A
Definitive proxy
30 Mar 20
Other
SD
Conflict minerals disclosure
27 May 22
SD
Conflict minerals disclosure
27 May 21
SD
Conflict minerals disclosure
20 May 20
SD
Conflict minerals disclosure
24 May 19
SD
Conflict minerals disclosure
30 May 18
UPLOAD
Letter from SEC
28 May 18
UPLOAD
Letter from SEC
21 May 18
CORRESP
Correspondence with SEC
10 May 18
SD
Conflict minerals disclosure
23 May 17
SD
Conflict minerals disclosure
19 May 16
Ownership
3
CUMMINS / Jennifer Mary Bush ownership change
2 Aug 22
4
CUMMINS / Gary L Belske ownership change
12 Jul 22
3
CUMMINS / Gary L Belske ownership change
12 Jul 22
11-K
Annual report of employee stock purchases
27 May 22
11-K
Annual report of employee stock purchases
27 May 22
4
CUMMINS / Norbert Nusterer ownership change
26 May 22
4
CUMMINS / Franklin R ChangDiaz ownership change
25 May 22
4
CUMMINS / Carla A Harris ownership change
11 May 22
4
CUMMINS / THOMAS J LYNCH ownership change
11 May 22
4
CUMMINS / ROBERT HERDMAN ownership change
11 May 22
Patents
Utility
Dedicated thermal management for an SCR system
9 Aug 22
An aftertreatment system includes: a selective catalytic reduction (SCR) system configured to decompose constituents of exhaust gas; an exhaust conduit configured to deliver the exhaust gas to the SCR system; a hydrocarbon insertion assembly; a valve operably coupled to the exhaust conduit, the valve configured to be selectively opened so as to allow a first gas to enter the exhaust conduit and mix with the exhaust gas; and a controller configured to: determine a SCR system temperature, in response to the SCR system temperature being less than a target temperature, instruct the hydrocarbon insertion assembly to insert hydrocarbons into the exhaust gas, and in response to the SCR system temperature being greater than the target temperature, instruct the valve to open so as to allow the first gas to enter the exhaust conduit, a first gas temperature of the first gas being lower than the SCR system temperature.
Utility
Reductant injection in exhaust manifold
9 Aug 22
An aftertreatment system comprises a first passageway having a first temperature and a second passageway having a second temperature different than the first temperature.
Utility
No Filter No Run Fluid Filter with Integration of Low Pressure Fluid System
4 Aug 22
A no filter no run (NFNR) fluid filter and fluid filter assembly are provided.
Utility
Battery Pack Housing
4 Aug 22
A battery pack housing for a battery pack comprising a plurality of battery cells is disclosed.
Utility
Method and System for Improving Fuel Economy of a Hybrid Powertrain In a Vehicle
4 Aug 22
Methods and systems for improving fuel economy and reducing emissions of a vehicle with an electric motor, an engine and an energy storage device are disclosed.
Transcripts
2022 Q2
Earnings call transcript
2 Aug 22
2022 Q1
Earnings call transcript
3 May 22
2021 Q4
Earnings call transcript
3 Feb 22
2021 Q3
Earnings call transcript
2 Nov 21
2021 Q2
Earnings call transcript
3 Aug 21
2021 Q1
Earnings call transcript
4 May 21
2020 Q4
Earnings call transcript
4 Feb 21
2020 Q3
Earnings call transcript
27 Oct 20
2020 Q2
Earnings call transcript
28 Jul 20
2020 Q1
Earnings call transcript
28 Apr 20
Reddit threads
Are dividend stocks ever worth it?
6 Aug 22
Intel hit 4% div yield, but can it keep paying it
3 Aug 22
Thoughts on Caterpillar
2 Aug 22
(8/2) Tuesday's Pre-Market Stock Movers & News
2 Aug 22
Daily Discussion Thread - August 2nd, 2022
2 Aug 22
What companies have the most trustworthy, consistent, and successful management in your view and why? And which have the worst?
1 Aug 22
Daily Discussion Thread - August 1st, 2022
1 Aug 22
Earnings for the first week of August 2022! Expect plenty of oil/gas, fertilizer, pharma, semiconductors, restaurants, and more!
31 Jul 22
How should I get started in making a dividend snowball?
27 Jul 22
Newbie started to invest this year in a bear market. Seeking advice.
12 Jul 22