How does Cummins (CMI) make money?

Cummins (CMI) generates revenue primarily from Distribution, which accounted for 35.3% of total revenue in TTM through Q1 2026. The company reported $33.89B in revenue and converted 7.9% of it into net profit, equivalent to roughly $2.67B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Cummins (CMI)?

Cummins (CMI) reported a gross profit margin of 25.4% in TTM through Q1 2026, equivalent to $8.60B in gross profit on $33.89B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Cummins (CMI)?

Cummins (CMI) reported an operating profit margin of 11.2% in TTM through Q1 2026, equivalent to $3.81B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Cummins (CMI)?

Cummins (CMI) reported a net profit margin of 7.9% in TTM through Q1 2026, equivalent to $2.67B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Cummins (CMI) profitable?

Yes. Cummins (CMI) reported $2.67B in net income for TTM through Q1 2026, with a net profit margin of 7.9%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Cummins (CMI) invest in research and development?

Cummins (CMI) invested $1.41B in research and development during TTM through Q1 2026, roughly 4.2% of total revenue. R&D spending funds the company's future product pipeline and is expensed in full on the income statement rather than capitalised, which makes the operating margin sensitive to how aggressively management chooses to reinvest in innovation.

How much does Cummins (CMI) spend on capital expenditures?

Cummins (CMI) spent $1.26B on capital expenditures (CapEx) during TTM through Q1 2026, roughly 3.7% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Cummins (CMI) generate?

Cummins (CMI) generated $2.67B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 7.9%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Cummins (CMI)?

Cummins (CMI) had an effective tax rate of 26.3% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Cummins (CMI)?

Cummins (CMI) reports revenue across 5 reportable product segments, led by Distribution at 30.3% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does Cummins (CMI) generate most of its revenue?

UNITED STATES is the largest geographic market for Cummins (CMI), accounting for 65.4% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Cummins Makes Money: 2026 Visual Revenue Map

Cummins (CMI) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported May 5, 2026).

Cummins (CMI) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Cummins (CMI) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Distribution	$10.27B	30.3%
Engine	$8.77B	25.9%
Components	$8.15B	24%
Power Systems	$6.33B	18.7%
Accelera	$372.92M	1.1%
Total	$33.89B	100%

Distribution$10.27B
Engine$8.77B
Components$8.15B
Power Systems$6.33B
Accelera$372.92M
Total$33.89B

Cummins (CMI) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Cummins (CMI), TTM through Q1 2026
Region	Revenue (USD)	% of total
UNITED STATES	$18.72B	65.4%
Non-US	$9.89B	34.6%
Total	$28.61B	100%

UNITED STATES
Non-US
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Cummins (CMI) reports revenue across 5 operating segments; the largest segment was Distribution at 30.3%, followed by Engine (25.9%) and Components (24%). Separately, by end-market geography, UNITED STATES accounted for 65.4% of revenue, followed by Non-US (34.6%).

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