Cummins Inc
Cummins Inc. offers various power solutions worldwide. The company operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. It offers diesel and natural gas-powered engines; and drivetrain systems, including axles, drivelines, brakes, and suspension systems; and on- and off-highway, and other products. The company also provides aftertreatment technology and s… Read more
Cummins Inc (CMI) - Net Assets
Latest net assets as of December 2025: $13.41 Billion USD
Based on the latest financial reports, Cummins Inc (CMI) has net assets worth $13.41 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($33.99 Billion) and total liabilities ($20.58 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $13.41 Billion |
| % of Total Assets | 39.44% |
| Annual Growth Rate | 7.62% |
| 5-Year Change | 42.62% |
| 10-Year Change | 86.9% |
| Growth Volatility | 18.15 |
Cummins Inc - Net Assets Trend (1985–2025)
This chart illustrates how Cummins Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Cummins Inc (1985–2025)
The table below shows the annual net assets of Cummins Inc from 1985 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $13.41 Billion | +18.57% |
| 2024-12-31 | $11.31 Billion | +14.18% |
| 2023-12-31 | $9.90 Billion | -3.14% |
| 2022-12-31 | $10.22 Billion | +8.77% |
| 2021-12-31 | $9.40 Billion | +4.58% |
| 2020-12-31 | $8.99 Billion | +6.19% |
| 2019-12-31 | $8.46 Billion | +2.49% |
| 2018-12-31 | $8.26 Billion | +1.16% |
| 2017-12-31 | $8.16 Billion | +13.80% |
| 2016-12-31 | $7.17 Billion | -7.43% |
| 2015-12-31 | $7.75 Billion | -4.24% |
| 2014-12-31 | $8.09 Billion | +2.83% |
| 2013-12-31 | $7.87 Billion | +12.85% |
| 2012-12-31 | $6.97 Billion | +19.60% |
| 2011-12-31 | $5.83 Billion | +16.71% |
| 2010-12-31 | $5.00 Billion | +24.28% |
| 2009-12-31 | $4.02 Billion | +15.52% |
| 2008-12-31 | $3.48 Billion | -6.00% |
| 2007-12-31 | $3.70 Billion | +21.14% |
| 2006-12-31 | $3.06 Billion | +46.29% |
| 2005-12-31 | $2.09 Billion | +29.83% |
| 2004-12-31 | $1.61 Billion | +50.09% |
| 2003-12-31 | $1.07 Billion | +14.90% |
| 2002-12-31 | $933.00 Million | -15.79% |
| 2001-12-31 | $1.11 Billion | -21.31% |
| 2000-12-31 | $1.41 Billion | -6.32% |
| 1999-12-31 | $1.50 Billion | +12.67% |
| 1998-12-31 | $1.33 Billion | -9.56% |
| 1997-12-31 | $1.48 Billion | +12.42% |
| 1996-12-31 | $1.31 Billion | +10.90% |
| 1995-12-31 | $1.18 Billion | +10.29% |
| 1994-12-31 | $1.07 Billion | +30.63% |
| 1993-12-31 | $821.10 Million | +62.02% |
| 1992-12-31 | $506.80 Million | -26.93% |
| 1991-12-31 | $693.60 Million | -5.50% |
| 1990-12-31 | $734.00 Million | +6.62% |
| 1989-12-31 | $688.40 Million | +17.37% |
| 1988-12-31 | $586.50 Million | -15.28% |
| 1987-12-31 | $692.30 Million | +5.65% |
| 1986-12-31 | $655.30 Million | -7.91% |
| 1985-12-31 | $711.60 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Cummins Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 4027.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $22.62 Billion | 183.14% |
| Common Stock | $556.00 Million | 4.50% |
| Other Comprehensive Income | $-2.28 Billion | -18.45% |
| Total Equity | $12.35 Billion | 100.00% |
Cummins Inc Competitors by Market Cap
The table below lists competitors of Cummins Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
O’Reilly Automotive Inc
NASDAQ:ORLY
|
$74.56 Billion |
|
Regeneron Pharmaceuticals Inc
NASDAQ:REGN
|
$74.80 Billion |
|
Johnson Controls International PLC
NYSE:JCI
|
$75.00 Billion |
|
Safran SA
PINK:SAFRF
|
$75.30 Billion |
|
Triumph Financial Inc
NASDAQ:TFINP
|
$74.48 Billion |
|
Emerson Electric Company
NYSE:EMR
|
$74.18 Billion |
|
The Williams Companies, Inc.
SA:W1MB34
|
$74.15 Billion |
|
Mondelez International Inc
NASDAQ:MDLZ
|
$74.06 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Cummins Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 10,271,000,000 to 12,349,000,000, a change of 2,078,000,000 (20.2%).
- Net income of 2,843,000,000 contributed positively to equity growth.
- Dividend payments of 1,055,000,000 reduced retained earnings.
- Other comprehensive income increased equity by 167,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $2.84 Billion | +23.02% |
| Dividends Paid | $1.05 Billion | -8.54% |
| Other Comprehensive Income | $167.00 Million | +1.35% |
| Other Changes | $123.00 Million | +1.0% |
| Total Change | $- | 20.23% |
Book Value vs Market Value Analysis
This analysis compares Cummins Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 6.10x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 58.97x to 6.10x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $9.21 | $543.27 | x |
| 1986-12-31 | $7.99 | $543.27 | x |
| 1987-12-31 | $8.36 | $543.27 | x |
| 1988-12-31 | $6.90 | $543.27 | x |
| 1989-12-31 | $7.49 | $543.27 | x |
| 1990-12-31 | $6.78 | $543.27 | x |
| 1991-12-31 | $5.25 | $543.27 | x |
| 1992-12-31 | $3.81 | $543.27 | x |
| 1993-12-31 | $5.62 | $543.27 | x |
| 1994-12-31 | $6.48 | $543.27 | x |
| 1995-12-31 | $7.29 | $543.27 | x |
| 1996-12-31 | $8.22 | $543.27 | x |
| 1997-12-31 | $9.19 | $543.27 | x |
| 1998-12-31 | $8.33 | $543.27 | x |
| 1999-12-31 | $9.22 | $543.27 | x |
| 2000-12-31 | $8.35 | $543.27 | x |
| 2001-12-31 | $6.72 | $543.27 | x |
| 2002-12-31 | $5.46 | $543.27 | x |
| 2003-12-31 | $6.01 | $543.27 | x |
| 2004-12-31 | $7.40 | $543.27 | x |
| 2005-12-31 | $9.33 | $543.27 | x |
| 2006-12-31 | $13.92 | $543.27 | x |
| 2007-12-31 | $17.07 | $543.27 | x |
| 2008-12-31 | $16.44 | $543.27 | x |
| 2009-12-31 | $19.08 | $543.27 | x |
| 2010-12-31 | $23.69 | $543.27 | x |
| 2011-12-31 | $28.37 | $543.27 | x |
| 2012-12-31 | $34.81 | $543.27 | x |
| 2013-12-31 | $40.07 | $543.27 | x |
| 2014-12-31 | $42.32 | $543.27 | x |
| 2015-12-31 | $41.51 | $543.27 | x |
| 2016-12-31 | $40.61 | $543.27 | x |
| 2017-12-31 | $43.39 | $543.27 | x |
| 2018-12-31 | $45.14 | $543.27 | x |
| 2019-12-31 | $48.09 | $543.27 | x |
| 2020-12-31 | $54.11 | $543.27 | x |
| 2021-12-31 | $58.08 | $543.27 | x |
| 2022-12-31 | $63.07 | $543.27 | x |
| 2023-12-31 | $62.02 | $543.27 | x |
| 2024-12-31 | $73.84 | $543.27 | x |
| 2025-12-31 | $89.03 | $543.27 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Cummins Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 23.02%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 8.44%
- • Asset Turnover: 0.99x
- • Equity Multiplier: 2.75x
- Recent ROE (23.02%) is above the historical average (12.83%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 7.08% | 2.35% | 1.26x | 2.40x | $-20.76 Million |
| 1986 | -16.37% | -4.66% | 1.16x | 3.04x | $-172.83 Million |
| 1987 | 2.01% | 0.50% | 1.37x | 2.92x | $-55.33 Million |
| 1988 | -10.81% | -1.92% | 1.60x | 3.52x | $-122.05 Million |
| 1989 | -0.97% | -0.17% | 1.73x | 3.24x | $-68.75 Million |
| 1990 | -24.67% | -4.77% | 1.66x | 3.12x | $-232.03 Million |
| 1991 | -10.52% | -1.93% | 1.67x | 3.27x | $-127.98 Million |
| 1992 | -37.82% | -5.05% | 1.68x | 4.45x | $-239.61 Million |
| 1993 | 21.57% | 4.17% | 1.78x | 2.91x | $94.99 Million |
| 1994 | 23.58% | 5.34% | 1.75x | 2.52x | $145.64 Million |
| 1995 | 18.93% | 4.27% | 1.72x | 2.58x | $105.70 Million |
| 1996 | 12.20% | 3.04% | 1.56x | 2.57x | $28.80 Million |
| 1997 | 14.91% | 3.77% | 1.49x | 2.65x | $69.80 Million |
| 1998 | -1.65% | -0.34% | 1.38x | 3.57x | $-148.20 Million |
| 1999 | 11.20% | 2.41% | 1.41x | 3.29x | $17.10 Million |
| 2000 | 0.60% | 0.12% | 1.47x | 3.37x | $-125.60 Million |
| 2001 | -9.95% | -1.80% | 1.31x | 4.23x | $-204.50 Million |
| 2002 | 9.75% | 1.40% | 1.21x | 5.75x | $-2.10 Million |
| 2003 | 5.27% | 0.79% | 1.23x | 5.40x | $-44.90 Million |
| 2004 | 24.98% | 4.15% | 1.29x | 4.66x | $209.90 Million |
| 2005 | 29.51% | 5.55% | 1.44x | 3.69x | $363.60 Million |
| 2006 | 25.52% | 6.29% | 1.52x | 2.66x | $434.80 Million |
| 2007 | 21.68% | 5.66% | 1.59x | 2.40x | $398.10 Million |
| 2008 | 23.37% | 5.26% | 1.68x | 2.64x | $432.00 Million |
| 2009 | 11.34% | 3.96% | 1.23x | 2.34x | $50.70 Million |
| 2010 | 22.27% | 7.86% | 1.27x | 2.23x | $573.00 Million |
| 2011 | 33.65% | 10.24% | 1.55x | 2.12x | $1.30 Billion |
| 2012 | 24.91% | 9.49% | 1.38x | 1.90x | $984.70 Million |
| 2013 | 19.75% | 8.57% | 1.17x | 1.96x | $732.00 Million |
| 2014 | 21.31% | 8.59% | 1.22x | 2.04x | $876.10 Million |
| 2015 | 18.89% | 7.32% | 1.26x | 2.04x | $658.40 Million |
| 2016 | 20.28% | 7.96% | 1.17x | 2.18x | $706.50 Million |
| 2017 | 13.76% | 4.89% | 1.13x | 2.49x | $273.10 Million |
| 2018 | 29.14% | 9.01% | 1.25x | 2.59x | $1.41 Billion |
| 2019 | 30.11% | 9.59% | 1.19x | 2.63x | $1.51 Billion |
| 2020 | 22.19% | 9.03% | 0.88x | 2.81x | $982.80 Million |
| 2021 | 25.15% | 8.87% | 1.01x | 2.80x | $1.28 Billion |
| 2022 | 23.97% | 7.66% | 0.93x | 3.38x | $1.25 Billion |
| 2023 | 8.31% | 2.16% | 1.06x | 3.62x | $-150.00 Million |
| 2024 | 38.42% | 11.57% | 1.08x | 3.07x | $2.92 Billion |
| 2025 | 23.02% | 8.44% | 0.99x | 2.75x | $1.61 Billion |
Industry Comparison
This section compares Cummins Inc's net assets metrics with peer companies in the Specialty Industrial Machinery industry.
Industry Context
- Industry: Specialty Industrial Machinery
- Average net assets among peers: $49,834,203,139
- Average return on equity (ROE) among peers: -24.25%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Cummins Inc (CMI) | $13.41 Billion | 7.08% | 1.54x | $74.50 Billion |
| American Commerce Solutions Inc (AACS) | $554.04K | -209.75% | 2.35x | $38.47K |
| ATI Airtest Technologies Inc (AATGF) | $-3.05 Million | 0.00% | 0.00x | $2.79 Million |
| ABB Turbo Systems AG (ACLIF) | $302.90 Million | 33.41% | 2.98x | $4.32 Billion |
| Agfa-Gevaert NV (AFGVF) | $130.00 Million | -40.77% | 16.65x | $91.17 Million |
| Alphaform AG (AFRMF) | $9.59 Million | -32.38% | 1.09x | $691.72 |
| Airtificial Intelligence Structures S.A (AITLF) | $-8.71 Million | 0.00% | 0.00x | $53.18 Million |
| Alfa Laval AB (publ) (ALFVF) | $10.49 Billion | 35.97% | 1.77x | $13.09 Billion |
| Amada Co. Ltd (AMDLY) | $484.04 Billion | 5.74% | 0.27x | $3.72 Billion |
| Ametek Inc (AME) | $3.25 Billion | 18.15% | 1.05x | $49.22 Billion |
| American Superconductor Corporation (AMSC) | $125.12 Million | -52.85% | 0.73x | $1.42 Billion |