Cummins Inc (CMI) — Capital Reinvestment Ratio
Cummins Inc (CMI) has a Capital Reinvestment Ratio of 0.61x as of March 2026, meaning it reinvests 1% of its operating cash flow ($309.00 Million) in capital expenditures ($189.00 Million). Check tangible equity quality of Cummins Inc to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Cummins Inc Capital Reinvestment Ratio (1989–2025)
This chart tracks Cummins Inc's Capital Reinvestment Ratio across 37 annual periods. For the full cash flow conversion analysis, see Cummins Inc cash flow conversion.
Annual Capital Reinvestment Ratio for Cummins Inc (1989–2025)
Year-by-year Capital Reinvestment Ratio for Cummins Inc from 1989 to 2025. See CMI FCF generation index to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.34x | $3.62 Billion | $1.24 Billion | ▼ -58.0% |
| 2024 | 0.81x | $1.49 Billion | $1.21 Billion | ▲ +165.6% |
| 2023 | 0.31x | $3.97 Billion | $1.21 Billion | ▼ -34.5% |
| 2022 | 0.47x | $1.96 Billion | $916.00 Million | ▲ +34.0% |
| 2021 | 0.35x | $2.26 Billion | $786.00 Million | ▲ +64.9% |
| 2020 | 0.21x | $2.72 Billion | $575.00 Million | ▼ -13.3% |
| 2019 | 0.24x | $3.18 Billion | $775.00 Million | ▼ -26.1% |
| 2018 | 0.33x | $2.38 Billion | $784.00 Million | ▲ +27.9% |
| 2017 | 0.26x | $2.28 Billion | $587.00 Million | ▼ -16.0% |
| 2016 | 0.31x | $1.94 Billion | $594.00 Million | ▼ -20.9% |
| 2015 | 0.39x | $2.06 Billion | $799.00 Million | ▲ +10.2% |
| 2014 | 0.35x | $2.27 Billion | $798.00 Million | ▼ -0.6% |
| 2013 | 0.35x | $2.09 Billion | $740.00 Million | ▼ -30.2% |
| 2012 | 0.51x | $1.53 Billion | $777.00 Million | ▲ +54.2% |
| 2011 | 0.33x | $2.07 Billion | $682.00 Million | ▼ -18.7% |
| 2010 | 0.40x | $1.01 Billion | $407.00 Million | ▲ +33.3% |
| 2009 | 0.30x | $1.14 Billion | $345.00 Million | ▼ -52.1% |
| 2008 | 0.63x | $987.00 Million | $625.00 Million | ▲ +22.1% |
| 2007 | 0.52x | $810.00 Million | $420.00 Million | ▲ +44.7% |
| 2006 | 0.36x | $840.00 Million | $301.00 Million | ▲ +46.4% |
| 2005 | 0.24x | $760.00 Million | $186.00 Million | ▼ -0.5% |
| 2004 | 0.25x | $614.00 Million | $151.00 Million | ▼ -72.2% |
| 2003 | 0.89x | $158.00 Million | $140.00 Million | ▲ +90.0% |
| 2002 | 0.47x | $193.00 Million | $90.00 Million | ▼ -67.4% |
| 2001 | 1.43x | $144.00 Million | $206.00 Million | ▲ +143.4% |
| 2000 | 0.59x | $388.00 Million | $228.00 Million | ▼ -16.1% |
| 1999 | 0.70x | $307.00 Million | $215.00 Million | ▼ -30.0% |
| 1998 | 1.00x | $271.00 Million | $271.00 Million | ▼ -50.6% |
| 1997 | 2.03x | $200.00 Million | $405.00 Million | ▲ +28.6% |
| 1996 | 1.58x | $193.00 Million | $304.00 Million | ▲ +186.8% |
| 1995 | 0.55x | $406.00 Million | $223.00 Million | ▼ -13.2% |
| 1994 | 0.63x | $375.70 Million | $237.70 Million | ▲ +3.7% |
| 1993 | 0.61x | $285.60 Million | $174.20 Million | ▼ -13.4% |
| 1992 | 0.70x | $197.70 Million | $139.30 Million | ▼ -39.3% |
| 1991 | 1.16x | $106.70 Million | $123.90 Million | ▼ -74.4% |
| 1990 | 4.54x | $32.40 Million | $147.00 Million | ▲ +587.0% |
| 1989 | 0.66x | $208.80 Million | $137.90 Million | — |