Cummins Inc. (CMI)

Cummins Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	34,198	34,065	28,074	24,021	19,811	23,571
Revenue Growth (YoY)	2.72%	21.34%	16.87%	21.25%	-15.95%	-0.84%
Cost of Revenue	25,792	25,816	21,338	18,326	14,917	17,591
Gross Profit	8,406	8,249	6,736	5,695	4,894	5,980
Selling, General & Admin	3,237	3,208	2,517	2,374	2,125	2,454
Research & Development	1,497	1,500	1,278	1,090	906	1,001
Other Operating Expenses	124	93	68	31	46	36
Operating Expenses	4,858	4,801	3,863	3,495	3,077	3,491
Operating Income	3,548	3,448	2,873	2,200	1,817	2,489
Interest Expense	-373	-375	-199	-111	-100	-109
Interest & Investment Income	101	95	49	-	-	-
Earnings From Equity Investments	438	483	349	506	452	330
Currency Exchange Gain (Loss)	-59	-30	-8	-	-	-
Other Non Operating Income (Expenses)	73	35	-85	156	169	243
EBT Excluding Unusual Items	3,728	3,656	2,979	2,751	2,338	2,953
Merger & Restructuring Charges	-	-	-30	-	-	-119
Gain (Loss) on Sale of Investments	17	15	-7	-	-	-
Gain (Loss) on Sale of Assets	1,333	-	-	-	-	-
Asset Writedown	-21	-9	-60	-	-	-
Legal Settlements	-2,036	-2,036	-	-	-	-
Other Unusual Items	-10	-	-63	-	-	-
Pretax Income	3,011	1,626	2,819	2,751	2,338	2,834
Income Tax Expense	781	786	636	587	527	566
Earnings From Continuing Operations	2,230	840	2,183	2,164	1,811	2,268
Minority Interest in Earnings	-133	-105	-32	-33	-22	-8
Net Income	2,097	735	2,151	2,131	1,789	2,260
Net Income to Common	2,097	735	2,151	2,131	1,789	2,260
Net Income Growth	-25.03%	-65.83%	0.94%	19.12%	-20.84%	5.56%
Shares Outstanding (Basic)	139	142	142	145	148	155
Shares Outstanding (Diluted)	140	143	142	146	149	156
Shares Change (YoY)	-1.56%	0.28%	-2.47%	-2.08%	-4.55%	-4.12%
EPS (Basic)	15.05	5.19	15.20	14.74	12.07	14.54
EPS (Diluted)	14.95	5.15	15.12	14.61	12.01	14.48
EPS Growth	-23.86%	-65.94%	3.49%	21.65%	-17.06%	10.11%
Free Cash Flow	337	2,753	1,046	1,522	2,194	2,481
Free Cash Flow Per Share	2.40	19.29	7.35	10.43	14.72	15.89
Dividend Per Share	6.860	6.500	6.040	5.600	5.283	4.902
Dividend Growth	7.36%	7.62%	7.86%	6.00%	7.77%	10.41%
Gross Margin	24.58%	24.22%	23.99%	23.71%	24.70%	25.37%
Operating Margin	10.37%	10.12%	10.23%	9.16%	9.17%	10.56%
Profit Margin	6.13%	2.16%	7.66%	8.87%	9.03%	9.59%
Free Cash Flow Margin	0.99%	8.08%	3.73%	6.34%	11.07%	10.53%
EBITDA	4,592	4,464	3,654	2,859	2,487	3,158
EBITDA Margin	13.43%	13.10%	13.02%	11.90%	12.55%	13.40%
D&A For EBITDA	1,044	1,016	781	659	670	669
EBIT	3,548	3,448	2,873	2,200	1,817	2,489
EBIT Margin	10.37%	10.12%	10.23%	9.16%	9.17%	10.56%
Effective Tax Rate	25.94%	48.34%	22.56%	21.34%	22.54%	19.97%

Source: S&P Capital IQ. Standard template. Financial Sources.