Cummins Inc.

CMINYSEIndustrials● Active

$651.22

$-26.88(-3.96%)

Market Cap$89.9B

P/E Ratio—

52W High$718.08

52W Low$307.9

Avg Volume873K

Open$669.54

Beta1.24

Overview

Cummins Inc. (CMI) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

CMI · free cash flow · updated Jun 8, 2026

Core FCF metrics

CMI · FCF · TTM · margin & CAGR

Free cash flow was $2.39B for FY2025 (fiscal year ending 2025-12-31), up 755.2% year-over-year The FCF margin was 7.1%. Five-year CAGR stands at +2.1%.

FY2025 Free Cash Flow$2.39B▲ +755.2% YoY

Trailing 12M (TTM)$2.67Btrailing 4 quarters sum

FCF Margin7.1%$2.39B ÷ revenue

3-Year CAGR+31.6%FY2022 → FY2025

5-Year CAGR+2.1%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

CMI · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$3.62B(1.24B)$2.39B▲ +755.2%7.1%

FY2024$1.49B(1.21B)$279.0M▼ 89.9%0.8%

FY2023$3.97B(1.21B)$2.75B▲ +163.2%8.1%

FY2022$1.96B(916M)$1.05B▼ 28.8%3.7%

FY2021$2.26B(786M)$1.47B▼ 31.5%6.1%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

CMI · P/FCF · FCF yield · FCF per share

Cummins Inc. (CMI) trades at a FCF yield of 2.97% and a price-to-free-cash-flow ratio of 33.6x. FCF per share stands at $19.37, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

2.97%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$19.37

TTM FCF ÷ Shares Outstanding

Price / FCF

x33.6

Share Price ÷ FCF per Share

EV / FCF (TTM)

x35.8

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

CMI · cash flow statement · operating / investing / financing

For FY2025, Cummins Inc. generated $3.62B in operating cash flow and spent 1.24B in capital expenditures, yielding $2.39B in free cash flow.

Operating Activities

+$3.62B

Cash from core business operations

2025-12-31

Investing Activities

−$1.84B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$662.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($3.62B) − |CapEx| (1.24B) = FCF ($2.39B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Industrials)

CMI vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Cummins Inc.YOU

CMI

$2.39B+755.2%7.1%

23%

Union Pacific Corporation

Industrials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Cummins Inc. (CMI) reported free cash flow of $2.39B for FY2025 (fiscal year ending 2025-12-31), up 755.2% year-over-year. The FCF margin was 7.1%.

Based on available data, Cummins Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $2.75B in FY2023. The 5-year CAGR stands at +2.1%.

Cummins Inc.'s FCF yield is 2.97% and price-to-FCF ratio is 33.6x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

CMI free cash flow · 8 questions

Cummins Inc. free cash flow was $2.39B for FY2025, up 755.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $2.67B.

CMI free cash flowCMI FCFCMI FCF 2025CMI free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Cummins Inc. · Cummins Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026