CUMMINS INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 291.1 USD | -0.16% |
|
+1.24% | +21.53% |
| Apr. 23 | As You Sow Files an Exempt Solicitation and Solicits Votes for the Proposal | CI |
| Apr. 19 | Albemarle, Cummins receive tax credits under Biden's clean energy drive | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 27,077 | 33,612 | 31,201 | 34,168 | 33,958 | 39,816 | - | - |
| Enterprise Value (EV) 1 | 27,974 | 33,914 | 32,173 | 39,450 | 38,475 | 44,738 | 44,307 | 43,923 |
| P/E ratio | 12.4 x | 18.9 x | 14.9 x | 16 x | 46.5 x | 15.8 x | 13.8 x | 12.2 x |
| Yield | 2.74% | 2.32% | 2.57% | 2.49% | 2.71% | 2.35% | 2.48% | 2.69% |
| Capitalization / Revenue | 1.15 x | 1.7 x | 1.3 x | 1.22 x | 1 x | 1.21 x | 1.15 x | 1.09 x |
| EV / Revenue | 1.19 x | 1.71 x | 1.34 x | 1.41 x | 1.13 x | 1.36 x | 1.28 x | 1.2 x |
| EV / EBITDA | 7.5 x | 10.9 x | 9.14 x | 10.4 x | 7.41 x | 9.21 x | 8.49 x | 7.91 x |
| EV / FCF | 11.3 x | 15.5 x | 21.1 x | 37.7 x | 14 x | 19.2 x | 18.1 x | 17.3 x |
| FCF Yield | 8.87% | 6.47% | 4.73% | 2.65% | 7.16% | 5.2% | 5.54% | 5.79% |
| Price to Book | 3.59 x | 4.16 x | 3.67 x | 3.81 x | 3.86 x | 3.85 x | 3.37 x | 3.14 x |
| Nbr of stocks (in thousands) | 151,304 | 148,007 | 143,032 | 141,022 | 141,745 | 136,759 | - | - |
| Reference price 2 | 179.0 | 227.1 | 218.1 | 242.3 | 239.6 | 291.1 | 291.1 | 291.1 |
| Announcement Date | 2/4/20 | 2/4/21 | 2/3/22 | 2/6/23 | 2/6/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 23,571 | 19,811 | 24,021 | 28,074 | 34,065 | 32,795 | 34,602 | 36,504 |
| EBITDA 1 | 3,731 | 3,108 | 3,521 | 3,799 | 5,195 | 4,855 | 5,216 | 5,553 |
| EBIT 1 | 3,062 | 2,269 | 2,706 | 2,929 | 3,939 | 3,790 | 4,120 | 4,358 |
| Operating Margin | 12.99% | 11.45% | 11.27% | 10.43% | 11.56% | 11.56% | 11.91% | 11.94% |
| Earnings before Tax (EBT) 1 | 2,834 | 2,338 | 2,751 | 2,819 | 1,626 | 3,452 | 3,823 | 4,251 |
| Net income 1 | 2,260 | 1,789 | 2,131 | 2,151 | 735 | 2,556 | 2,877 | 3,205 |
| Net margin | 9.59% | 9.03% | 8.87% | 7.66% | 2.16% | 7.79% | 8.32% | 8.78% |
| EPS 2 | 14.48 | 12.01 | 14.61 | 15.12 | 5.150 | 18.39 | 21.15 | 23.82 |
| Free Cash Flow 1 | 2,481 | 2,194 | 1,522 | 1,046 | 2,753 | 2,325 | 2,454 | 2,543 |
| FCF margin | 10.53% | 11.07% | 6.34% | 3.73% | 8.08% | 7.09% | 7.09% | 6.97% |
| FCF Conversion (EBITDA) | 66.5% | 70.59% | 43.23% | 27.53% | 52.99% | 47.89% | 47.06% | 45.8% |
| FCF Conversion (Net income) | 109.78% | 122.64% | 71.42% | 48.63% | 374.56% | 90.99% | 85.3% | 79.37% |
| Dividend per Share 2 | 4.900 | 5.280 | 5.600 | 6.040 | 6.500 | 6.852 | 7.217 | 7.837 |
| Announcement Date | 2/4/20 | 2/4/21 | 2/3/22 | 2/6/23 | 2/6/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 5,968 | 5,850 | 6,385 | 6,586 | 7,333 | 7,770 | 8,453 | 8,638 | 8,431 | 8,543 | 8,449 | 8,293 | 7,988 | 7,913 | 8,572 |
| EBITDA 1 | 862 | 705 | 755 | 1,055 | 884 | 1,105 | 1,361 | 1,327 | 1,230 | 1,233 | 1,345 | 1,265 | 1,189 | 1,077 | 1,536 |
| EBIT 1 | 666 | 495 | 604 | 897 | 626 | 802 | 1,026 | 997 | 950 | 899 | 1,095 | 1,005 | 937.2 | 820.2 | 1,268 |
| Operating Margin | 11.16% | 8.46% | 9.46% | 13.62% | 8.54% | 10.32% | 12.14% | 11.54% | 11.27% | 10.52% | 12.96% | 12.12% | 11.73% | 10.37% | 14.79% |
| Earnings before Tax (EBT) 1 | 675 | 514 | 578 | 855 | 608 | 778 | 1,029 | 949 | 878 | -1,230 | 972.8 | 894 | 813.9 | 752.5 | 1,079 |
| Net income 1 | 534 | 394 | 418 | 702 | 400 | 631 | 790 | 720 | 656 | -1,431 | 735.3 | 665.4 | 602.3 | 533.9 | 819.9 |
| Net margin | 8.95% | 6.74% | 6.55% | 10.66% | 5.45% | 8.12% | 9.35% | 8.34% | 7.78% | -16.75% | 8.7% | 8.02% | 7.54% | 6.75% | 9.56% |
| EPS 2 | 3.690 | 2.730 | 2.920 | 4.940 | 2.820 | 4.430 | 5.550 | 5.050 | 4.590 | -10.08 | 5.247 | 4.821 | 4.443 | 3.929 | 5.982 |
| Dividend per Share 2 | 1.450 | 1.450 | 1.450 | 1.450 | 1.570 | 1.570 | 1.570 | 1.570 | 1.680 | 1.680 | 1.652 | 1.656 | 1.722 | 1.722 | 1.758 |
| Announcement Date | 11/2/21 | 2/3/22 | 5/3/22 | 8/2/22 | 11/3/22 | 2/6/23 | 5/2/23 | 8/3/23 | 11/2/23 | 2/6/24 | - | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 897 | 302 | 972 | 5,282 | 4,517 | 4,922 | 4,491 | 4,107 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.2404 x | 0.0972 x | 0.2761 x | 1.39 x | 0.8695 x | 1.014 x | 0.861 x | 0.7396 x |
| Free Cash Flow 1 | 2,481 | 2,194 | 1,522 | 1,046 | 2,753 | 2,325 | 2,454 | 2,543 |
| ROE (net income / shareholders' equity) | 30.4% | 23% | 25.8% | 26% | 31.5% | 26.5% | 27.3% | 28.4% |
| ROA (Net income/ Total Assets) | 11.6% | 8.45% | 9.2% | 8.26% | 9.02% | 7.77% | 8.66% | 8.94% |
| Assets 1 | 19,399 | 21,181 | 23,168 | 26,048 | 8,148 | 32,883 | 33,209 | 35,859 |
| Book Value Per Share 2 | 49.80 | 54.60 | 59.50 | 63.50 | 62.00 | 75.60 | 86.40 | 92.80 |
| Cash Flow per Share 2 | 20.40 | 18.30 | 15.50 | 13.80 | 27.80 | 22.60 | 26.90 | 30.50 |
| Capex 1 | 700 | 528 | 734 | 916 | 1,213 | 1,214 | 1,229 | 1,349 |
| Capex / Sales | 2.97% | 2.67% | 3.06% | 3.26% | 3.56% | 3.7% | 3.55% | 3.7% |
| Announcement Date | 2/4/20 | 2/4/21 | 2/3/22 | 2/6/23 | 2/6/24 | - | - | - |
1USD in Million2USD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
25
Last Close Price
291.1
USD
Average target price
289.1
USD
Spread / Average Target
-0.70%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +21.53% | 39.82B | |
| +64.98% | 10.77B | |
| +62.04% | 5.05B | |
| -14.64% | 2.85B | |
| +6.98% | 2.77B | |
| +33.25% | 2.61B | |
| +1.65% | 2.22B | |
| -6.47% | 1.33B | |
| -9.26% | 1.11B | |
| -14.67% | 942M |
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