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Cummins

Logo: Paul Rand, Public domain, via Wikimedia Commons5

American engines and related technology company

Cummins Inc. is an American multinational corporation that designs, manufactures, and distributes diesel engines, electric vehicle components, and power generation products.3 From Wikipedia, CC BY-SA 4.0

$529.17 up 3.21 (0.61%)Price as of Oct 15, 2026 at 19:45 UTC

Last updated Oct 16, 2026.

Overview

1919Founded1

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  • TickerCMI on NYSE1
  • Industrymanufacture of machinery and equipment1
  • HeadquartersColumbus1
  • Websitewww.cummins.com
  • Incorporated inIN6
  • Business address500 Jackson St, Box 3005 Mail Code 93050, Columbus, In 47202-30056
  • Filer categoryLarge accelerated filer6

Cummins Inc. is an American multinational corporation that designs, manufactures, and distributes diesel engines, electric vehicle components, and power generation products. Cummins also services engines and related equipment, including fuel systems, air handling systems controls, filtration, emission control, electrical power generation systems, and engine control units.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

25.3%Gross margin8
12.0%Operating margin8
8.8%Net margin8
-1.3%Revenue growth, 20258
23.9%Return on equity8
$2.4BFree cash flow8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

DBU power generation brought in 16% of the revenue Cummins broke down this way in fiscal 2025.

  1. DBU power generation$4.9B816%up 24% from 2024
  2. Parts$4.1B813%up 3% from 2024
  3. Drivetrain and braking systems$4.0B813%down 16% from 2024
  4. Emission solutions$3.0B810%down 5% from 2024
  5. Medium-duty truck and bus$2.5B88%down 18% from 2024
  6. Heavy-duty truck$2.5B88%down 23% from 2024
  7. PSBU - Power Generation$2.2B87%up 18% from 2024
  8. Light-duty automotive$1.9B86%up 22% from 2024
  9. Engine Product Line$1.6B85%down 5% from 2024
  10. Industrial$1.2B84%up 10% from 2024
  11. Engine Components and Software$1.2B84%up 9% from 2024
  12. Off-highway$1.1B84%up 10% from 2024
Products and services by year
Products and services202320242025
DBU power generation$2.5B$4.0B$4.9B
Parts$4.1B$4.0B$4.1B
Drivetrain and braking systems$4.8B$4.7B$4.0B
Emission solutions$3.4B$3.2B$3.0B
Medium-duty truck and bus$2.6B$3.1B$2.5B
Heavy-duty truck$3.4B$3.3B$2.5B
PSBU - Power Generation$1.7B$1.9B$2.2B
Light-duty automotive$1.7B$1.6B$1.9B
Engine Product Line$2.0B$1.7B$1.6B
Industrial$970.0M$1.1B$1.2B
Engine Components and Software$1.2B$1.1B$1.2B
Off-highway$1.1B$982.0M$1.1B

Business segments

Distribution brought in 30% of the revenue Cummins broke down this way in fiscal 2025.

  1. Distribution$12.4B830%up 9% from 2024
  2. Engine$10.9B826%down 7% from 2024
  3. Components$10.1B825%down 13% from 2024
  4. Power Systems$7.5B818%up 16% from 2024
  5. Accelera$460.0M81%up 11% from 2024
Business segments by year
Business segments202320242025
Distribution$10.2B$11.4B$12.4B
Engine$11.7B$11.7B$10.9B
Components$13.4B$11.7B$10.1B
Power Systems$5.7B$6.4B$7.5B
Accelera$354.0M$414.0M$460.0M

Regions

United States brought in 56% of the revenue Cummins broke down this way in fiscal 2025.

  1. United States$19.0B856%down 2% from 2024
  2. Rest of the world$9.7B829%down 3% from 2024
  3. China$3.3B810%up 12% from 2024
  4. India$1.7B85%down 3% from 2024
Regions by year
Regions202320242025
United States$19.3B$19.4B$19.0B
Rest of the world$10.0B$10.0B$9.7B
China$3.1B$2.9B$3.3B
India$1.7B$1.8B$1.7B

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue74¢$25.2B
  • Research and development4¢$1.4B
  • Selling, general and admin9¢$3.1B
  • Interest1¢$329.0M
  • Income tax3¢$1.0B
  • Profit9¢$3.0B

Out of $33.7B in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Capital spending34¢$1.2B
  • Dividends paid29¢$1.1B
  • Kept or used elsewhere37¢$1.3B

Out of $3.6B of cash from operations.8

Financial statements

Revenue91011128$33.7B in 2025+43% since 2019
0$10.0B$20.0B$30.0B$40.0B2019: $23.6B$23.6B20192020: $19.8B$19.8B2020−16%2021: $24.0B$24.0B2021+21%2022: $28.1B$28.1B2022+17%2023: $34.1B$34.1B2023+21%2024: $34.1B$34.1B2024+0%2025: $33.7B$33.7B2025−1%
Gross profit91011128$8.5B in 2025+42% since 2019
0$2.5B$5.0B$7.5B$10.0B2019: $6.0B$6.0B20192020: $4.9B$4.9B2020−18%2021: $5.7B$5.7B2021+16%2022: $6.7B$6.7B2022+18%2023: $8.2B$8.2B2023+23%2024: $8.4B$8.4B2024+2%2025: $8.5B$8.5B2025+1%
Operating income91011128$4.0B in 2025+49% since 2019
0$2.0B$4.0B$6.0B2019: $2.7B$2.7B20192020: $2.3B$2.3B2020−16%2021: $2.7B$2.7B2021+19%2022: $2.9B$2.9B2022+8%2023: $1.8B$1.8B2023−40%2024: $3.8B$3.8B2024+113%2025: $4.0B$4.0B2025+7%
Net income91011128$3.0B in 2025+30% since 2019
0$2.0B$4.0B$6.0B2019: $2.3B$2.3B20192020: $1.8B$1.8B2020−20%2021: $2.2B$2.2B2021+19%2022: $2.2B$2.2B2022+1%2023: $840.0M$840.0M2023−62%2024: $4.1B$4.1B2024+384%2025: $3.0B$3.0B2025−27%

Every line of the income statement in the latest annual report, as filed.8

Period ending2025-12-312024-12-312023-12-31
Net sales$33.7B$34.1B$34.1B
Cost of sales$25.2B$25.7B$25.8B
Gross Margin$8.5B$8.4B$8.2B
Selling, general and administrative expenses$3.1B$3.3B$3.3B
Research, development and engineering expenses$1.4B$1.5B$1.5B
Equity, royalty and interest income from investees$469.0M$395.0M$483.0M
Other operating expense, net$439.0M$346.0M$2.1B
OPERATING INCOME$4.0B$3.8B$1.8B
Interest expense$329.0M$370.0M$375.0M
Other income, net (Note 21)$267.0M$1.5B$240.0M
Income (Loss), Including Portion Attributable to Noncontrolling Interest, before Tax$4.0B$4.9B$1.6B
Income tax expense (Note 4)$1.0B$835.0M$786.0M
CONSOLIDATED NET INCOME$3.0B$4.1B$840.0M
Less: Net income attributable to noncontrolling interests$114.0M$122.0M$105.0M
Cummins share of net income$2.8B$3.9B$735.0M
Basic (in dollars per share)$20.62$28.55$5.19
Diluted (in dollars per share)$20.50$28.37$5.15

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The story

Founded by Clessie Cummins in 1919.1

The Cummins Engine Company was founded in Columbus, Indiana on February 3, 1919, by mechanic Clessie Cummins and banker William Glanton Irwin. The company focused on developing the diesel engine, which was invented 20 years earlier. Despite several well-publicized endurance trials, it was not until 1933 that their Model H engine, used in small railroad switchers, proved successful. Cummins N Series engines saw wide adoption during the post-World War II road-building boom, with more than half of the heavy-duty truck market using Cummins engines from 1952 to 1959. In the 1960s, the company opened an assembly plant in Shotts, Scotland (closed in 1996). By 2013, Cummins had operations in 197 countries and territories.

From Wikipedia’s article on Cummins, shared under CC BY-SA 4.0.7

Leadership

Who has led Cummins, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (72)

Products and brands

Business units

Cummins Components Business

Cummins Component Business Unit consists of emission solutions, filtration (Fleetguard), fuel systems, turbo technologies (Holset), and electronics. Cummins Turbo Technologies designs and manufactures turbochargers and related products for diesel engines above 3 liters. Its Emission Solutions unit develops and supplies catalytic exhaust systems and associated products to the medium and heavy-duty commercial diesel engine markets. Cummins Filtration designs, manufactures and distributes heavy-duty and light-duty air, fuel, hydraulic and lube filtration, chemicals and exhaust system technology products for diesel and gas-powered equipment. In contrast Cummins Electronics designs engine control units and sensors for Cummins diesel engines.

Cummins Engine Business

Cummins Engine Business Unit consists of aftermarket support, mid-range, heavy-duty, and high-power engines. Its markets include heavy and medium-duty trucks, buses, recreational vehicles (RV), light-duty automotive, and several industrial uses, including construction, mining, marine, oil, gas, railroad and military equipment.

The 5.9-liter I6 engine has been used in Dodge Ram heavy-duty pickups since 1988. In 2007, a 6.7-liter version of the Cummins straight-six engine became optional on the RAM pickup. In 2008, Cummins was a named defendant in a class-action suit related to 1998-2001 model year Dodge Ram trucks, model 2500 or 3500, originally equipped with a Cummins ISB 5.9 liter diesel engine built using a pattern 53 Block. The case has been settled, but some qualified Chrysler owners may receive $500 for repairs to the block, which was alleged to crack and create a coolant leak.

In April 2013, Cummins utilized technology developed by Westport Innovations to ship large natural gas-fueled engines to truck manufacturers in the United States as trucking companies began converting portions of their fleets to natural gas and the natural gas distribution network in the United States began to expand.

Read the full text

Cummins has a technical center in Darlington, England, for developing products for the European, Middle Eastern, and Asian markets.

Cummins Distribution Business

Cummins Distribution Business consists of engine and power generation distribution as well as service and parts. The distribution unit of Cummins consists of 17 Cummins owned distributors and 10 joint ventures, covering 90 countries and territories through 234 locations.

Cummins Power Systems Business

Cummins Power Systems Business Unit consists of alternators, automatic transfer switches, commercial power systems, consumer systems, engines, and paralleling systems.

All of the above stem from the Cummins Onan Corporation, whose products remain in service today.

This Business Unit was formed recently, following a merge of the Power Generation Unit and High Horsepower Sub-Division.

On August 22, 2017, United Rentals announced it had acquired all mobile power generation assets from Cummins. To maintain fleet and customer service continuity, some Cummins employees joined United Rentals.

Accelera by Cummins

On March 8, 2023, Cummins rebranded its New Power business unit as Accelera by Cummins. Accelera designs and produces zero-emissions power generation and vehicle propulsion devices, including hydrogen fuel cells, batteries, e-axles, traction systems and electrolyzers.

Subsidiaries

Cummins Turbo Technologies

The Holset Engineering Co. was a British company that produced turbochargers, primarily for diesel and heavy-duty applications.

In 1973 the company was purchased by Cummins after briefly being owned by the Hanson Trust. Holset now operates facilities in China, India, Brazil, the Netherlands, the United Kingdom, and the United States.

In 2006, the division officially changed its name to Cummins Turbo Technologies to be identified more closely with its parent company. The turbocharger products still use the Holset brand name.

Cummins Valvetrain Technologies

Clessie Cummins invented the engine brake in the late 1950s and sold the technology to Jacobs Chuck in 1961 for production, which created the Clessie L. Cummins division of the company to produce engine brakes as an aftermarket option for various diesel engines. This division would later separate from its parent company and be known as Jacobs Vehicle Systems from then on. The company would be purchased by Cummins in 2022.

The division has manufacturing facilities in Bloomfield, CT as well as Suzhou, China, and although it is no longer known as Jacobs Vehicle Systems, Cummins still uses the Jacobs name for its engine braking products.

The company also designs and manufactures multiple variable valve actuation technologies for heavy-duty applications.

Cummins Power Systems

In 1986, Cummins began the acquisition of Onan and completed it in 1992. Since then, Onan has evolved into Cummins Power Generation (now Cummins Power Systems), a wholly invested division of Cummins. The Onan name continues to be used for modern versions of their traditional engine-driven generators for RV, marine, commercial mobility, home standby, and portable use.

Cummins Inc. (NYSE: CMI) announced that it will be unifying its brand strategy across its Power Systems business segment, which provides high-speed engines from 760 to 4400 HP and power generation equipment from 2–3,500 kW, including standby and prime power gen sets, alternators, switchgear and other components. Currently, the portfolio features the Cummins, Cummins Power Generation and Cummins Onan brands. With immediate effect, the branding will be consolidated under the Cummins brand. The Cummins Power Generation and Cummins Onan brands will be retired and the Onan name synonymous with mobile gensets, will be repositioned as a generator product line under the newly unified Cummins brand in the RV market.

Rebranding occurred globally on all marketing activities, as product branding changed across all manufacturing plants beginning July 2017.

President Joe Biden visited the Cummins plant in Fridley, Minnesota on April 3, 2022. It was part of his "Investing in America" tour. Cummins had announced a US$1 billion initiative to produce clean energy technology, including electrolyzers for hydrogen cells in Fridley.

Cummins Emission Solutions

Exhaust and emissions after-treatment company Nelson Industries was purchased in 1999, due to the increasing importance of exhaust after-treatment systems for meeting future emissions standards. The division changed its name to Cummins Emission Solutions to be identified more closely with their parent company.

China operations

Cummins has some joint ventures with Chinese manufacturers, such as Dongfeng Cummins, a joint venture with Dongfeng Automobile Company, as well as Guangxi Cummins Industrial Power with LiuGong. One of the most successful joint ventures is the joint venture with Foton called Beijing Foton Cummins Engine Company. This joint venture developed the ISG/X12 engine platform in the mid-2010s. The ISG/X12 in China has surpassed 240,000 units per year making it the highest volume heavy duty engine in the Cummins product line. The ISG/X12 is the foundation for all Cummins future engine platforms.

Other entities were Cummins Beijing, Chongqing Cummins Engine, Xi’an Cummins Engine, Wuxi Newage Alternators, Xiangfan Fleetguard, Wuxi Cummins Turbo Technologies.

India operations

Cummins India, the company's Indian subsidiary, is publicly traded on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). Cummins began operations in India on 17 February 1962 through a joint venture with the Kirloskar Group (Kirloskar Oil Engines Limited), with ownership divided as follows:

Cummins Engine Company – 50%

Kirloskar Group (Kirloskar Oil Engines Ltd.) – 25.5%

Public investors (Bombay Stock Exchange) – 24.5%

In 1997, Cummins increased its ownership stake to 51 percent, with Kirloskar Oil Engines largely divesting its holding; the remaining shares continued to trade publicly on the Bombay Stock Exchange. As of 2013, the Cummins group in India had revenues exceeding $1.5 billion, 20 factories, and 9,000 employees.

Cummins operates an R&D center in India, the Cummins Research and Technology Centre, established in 2003, and a technical center in Pune — the Cummins Technical Centre India (CTCI) — housing more than 2,500 engineers.

Cummins India also established the MKSSS's Cummins College of Engineering for Women, a women-only engineering college in Pune.

Concept vehicles

Cummins Aeos - An electric-powered conventional truck.

From Wikipedia’s article on Cummins, shared under CC BY-SA 4.0.7

Subsidiaries and ownership

Also owns

  • Cummins Corporate Office Building

From Wikidata.1

Former names

  • CUMMINS ENGINE CO INCMar 10, 1994 to Aug 29, 20016

Timeline

  1. Dec 8, 2022New chief executive Jennifer Rumsey becomes CEO17
  2. Feb 6, 2012New chief executive Norman Thomas Linebarger becomes CEO18
  3. Feb 12, 2004New chief executive Theodore M. Solso becomes CEO19
  4. 1919Founded Founded1

Recent filings

  1. Sep 3, 2026144
  2. Aug 25, 20264
  3. Aug 24, 2026144
  4. Aug 4, 20268-K
  5. Aug 4, 202610-Q
  6. May 26, 2026SD SPECIALIZED DISCLOSURE REPORT FILED PURSUANT TO SECTION 1502 OF THE DODD-FRANK W
  7. May 22, 202611-K
  8. May 19, 20264
  9. May 14, 20268-K
  10. May 14, 20264
  11. May 14, 20264
  12. May 14, 2026144
  13. May 14, 20264
  14. May 13, 20264
  15. May 13, 20264

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

The numbers on this page point here. Each one links to the record it came from.

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