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Cummins Competitors & Alternatives

Cummins competitors and alternatives include Emerson Electric Co., etc.…

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Company
Company
Ticker
CMI
EMR
Headquarter
Columbus ,IN
US
Saint Louis ,MO
US
CEO
Jennifer W. Rumsey
Surendralal Lanca Karsanbhai
Industry
Industrial - Machinery
Industrial - Machinery
Stock Price
Stock Price
Market Cap
Market Cap
$78.12 B
$82.23 B
Employees
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Employees
  • 73.60 K
  • 75.50 K
  • 69.60 K
  • 67.00 K
  • 73.00 K
  • 71.00 K
Y/Y
22.87%
2.58%
7.81%
21.64%
8.96%
2.74%

Income Statement

Revenue
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Revenue
  • $28.07 B
  • $34.07 B
  • $34.10 B
  • $15.17 B
  • $17.49 B
  • $18.02 B
Y/Y
16.87%
21.34%
0.11%
9.87%
15.32%
3%
Revenue by Products / Services
Years
  • 2024
  • 2025
Revenue by Geography
Years
  • 2024
  • 2025
Research and Development
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Research and Development
  • $1.28 B
  • $1.50 B
  • $1.46 B
  • $523.00 M
  • $781.00 M
  • -
Y/Y
17.25%
17.37%
2.47%
35.84%
49.33%
100%
Operating Income
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Operating Income
  • $2.93 B
  • $1.76 B
  • $3.75 B
  • $2.72 B
  • $2.66 B
  • $2.24 B
Y/Y
8.24%
39.88%
112.95%
17.32%
2.21%
15.74%
Tax Rate (%)
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Tax Rate (%)
  • 22.56%
  • 48.34%
  • 17.03%
  • 21.97%
  • 20.54%
  • 23.72%
Y/Y
5.73%
114.26%
64.77%
2.66%
6.5%
15.47%
Net Income
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Net Income
  • $2.15 B
  • $735.00 M
  • $3.95 B
  • $2.15 B
  • $1.97 B
  • $2.29 B
Y/Y
0.94%
65.83%
436.87%
21.6%
8.55%
16.51%
Revenue Per Employee
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Revenue Per Employee
  • $462.84 K
  • $451.68 K
  • -
  • $226.39 K
  • $239.62 K
  • $253.75 K
Y/Y
1.25%
2.41%
100%
40.2%
5.84%
5.9%
Net Income Per Employee
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Net Income Per Employee
  • $9.99 K
  • $52.26 K
  • -
  • $32.12 K
  • $26.96 K
  • $32.30 K
Y/Y
72.19%
423.36%
100%
0.04%
16.07%
19.8%

Assets & Liabilities | Cash Flow

Total Assets
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Total Assets
  • $30.30 B
  • $32.01 B
  • $31.54 B
  • $42.75 B
  • $44.25 B
  • $41.96 B
Y/Y
27.79%
5.63%
1.45%
19.83%
3.51%
5.16%
Total Liabilities
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Total Liabilities
  • $20.07 B
  • $22.10 B
  • $20.23 B
  • $16.15 B
  • $16.74 B
  • $21.67 B
Y/Y
40.29%
10.1%
8.46%
16.57%
3.65%
29.45%
Capital Expenditures (Capex)
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Capital Expenditures (Capex)
  • -$916.00 M
  • -$1.21 B
  • -$1.21 B
  • -$363.00 M
  • -$419.00 M
  • -$431.00 M
Y/Y
16.54%
32.42%
0.41%
31.64%
15.43%
2.86%

Profitability

Operating Income Margin (%)
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Operating Income Margin (%)
  • 10.43%
  • 5.17%
  • 11.00%
  • 18.19%
  • 15.24%
  • 12.42%
Y/Y
7.39%
50.45%
112.72%
6.6%
16.23%
18.5%
Net Income Margin (%)
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Net Income Margin (%)
  • 7.66%
  • 2.16%
  • 11.57%
  • 87.17%
  • 11.25%
  • 12.73%
Y/Y
13.63%
71.84%
436.29%
272.41%
87.09%
13.13%
EBITDA
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
EBITDA
  • $3.80 B
  • $3.03 B
  • $6.34 B
  • $4.04 B
  • $4.03 B
  • $4.86 B
Y/Y
7.89%
20.44%
109.52%
15.31%
0.15%
20.54%
Free Cash Flow (FCF)
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Free Cash Flow (FCF)
  • $1.05 B
  • $2.75 B
  • $279.00 M
  • $274.00 M
  • $2.91 B
  • $2.67 B
Y/Y
28.84%
163.19%
89.87%
88.54%
963.14%
8.44%

Ratios

Return on Equity (ROE)
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Return on Equity (ROE)
  • 23.97%
  • 8.31%
  • 38.42%
  • 10.40%
  • 9.10%
  • 0.00%
Y/Y
4.7%
65.35%
362.59%
60.73%
12.55%
100%
Return on Assets (ROA)
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Return on Assets (ROA)
  • 7.10%
  • 2.30%
  • 12.51%
  • 5.03%
  • 4.45%
  • 0.00%
Y/Y
21.01%
67.65%
444.79%
34.58%
11.65%
100%
Debt to Equity
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Debt to Equity
  • 93.09%
  • 81.45%
  • 73.98%
  • 41.38%
  • 38.62%
  • 67.84%
Y/Y
71.01%
12.51%
9.17%
59.87%
6.67%
75.65%

Valuation

Enterprise Value
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Enterprise value
  • $40.54 B
  • $38.98 B
  • $54.10 B
  • $55.96 B
  • $67.09 B
  • $0.00
Y/Y
20.78%
3.85%
38.81%
7.01%
19.89%
100%
Enterprise value to Revenue
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Enterprise value to Revenue
  • 1.44
  • 1.14
  • 1.59
  • 3.69
  • 3.84
  • 0.00
Y/Y
3.34%
20.76%
38.66%
2.6%
3.96%
100%
Enterprise value to EBITDA
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Enterprise value to EBITDA
  • 10.66
  • 12.88
  • 8.54
  • 13.86
  • 16.64
  • 0.00
Y/Y
11.95%
20.84%
33.75%
7.19%
20.07%
100%

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