Company Dossier · Industrials
Cummins
- S&P 500
- Russell 1000
What Cummins is doing, read from its filings, its own words and the news, with every figure dated and sourced. Not investment advice: no ratings, no price targets.
Open the full company record in Palanor: guidance, KPIs, ownership, calls, prices →
The latest read
Computed from the data on Oct 22, 2026. Every figure links back to its source in the sections below.
- Revenue over the four quarters to December 31, 2025: $33.7 billion, down 1.3% from a year earlier.SEC EDGAR filings (XBRL)
- Free cash flow (operating cash flow minus capital expenditure) over the four quarters to June 30, 2026: $3.37 billion, up 104% from a year earlier.SEC EDGAR filings (XBRL)
- Capital expenditure over the four quarters to June 30, 2026: $1.28 billion, up 7.6% from a year earlier.SEC EDGAR filings (XBRL)
- Long-term debt issued in the fiscal year to December 31, 2025: $2.34 billion.SEC EDGAR filings (10-K)
- Latest earnings call or results release (August 4, 2026): sentiment 0.60 on a −1 to +1 scale (mixed), confidence 0.80 of 1.Palanor Discourse
- Guidance in the last 90 days: 1 outlook figure raised, 0 lowered, 0 held.Guidance Ledger (8-K results releases)
- Latest annual report (filed February 10, 2026): 2 risk factors added, 0 removed.Risk Factor Changes (10-K Item 1A)
- Insiders were net sellers in Q3 2026: $0.4 million on the open market.SEC Form 4
- 2,114 institutional managers reported a position at June 30, 2026 (+147 on the quarter before).SEC Form 13F
- H-1B filings certified in Q2 2026: 378 (386 a year earlier).U.S. Department of Labor (OFLC)
Risk events (12 months): 3 — latest NHTSA vehicle recall, Sep 28, 2026 →
Company Posture
How Company Posture is measured →What Cummins is doing, on three axes, from its filings and its own words, as of 2026-10-22. A description, not a rating: Company Posture never says whether to buy.
Expanding · Mixed
Expanding ↔ Retrenching
Expanding
- Capital spending57th pct
- Debt raised—
- Buybacks vs capex—
- Hiring filings71st pct
- Deals and private raises48th pct
- Patent publications89th pct
Confident ↔ Hedging
Mixed
- Call sentiment69th pct
- Call confidence70th pct
- Guidance changes77th pct
- Risk factors added20th pct
- Insider open-market trades38th pct
- + Guidance changes
- + Call sentiment
- − Risk factors added
Pressure
Components only: Not yet shown as a score: in the back-test it did not add to a naive reader's forecast of impairment, debt acceleration or bankruptcy filings (8-K 2.06, 2.04, 1.03) (not enough events (17 in half 1; needs 20)).
- Fails-to-deliver4th pct
- Stress filings50th pct
Credit
How these are built →Cummins's borrowing from its SEC filings: the bonds it priced and the debt on its latest balance sheet. A description, not a rating.
Debt on the balance sheet
$7.2B
- Due within a year $0.5B
- Longer term $6.7B
- Default point $3.9B (short + ½ long)
Finance leases included · Jun 30, 2026 filing
Bonds priced, last 12 months
None
U.S. dollar tranches with a term sheet on EDGAR. Deals sold under Rule 144A file none and are not counted.
| Priced | Amount | Coupon | Matures | Spread | Yield |
|---|---|---|---|---|---|
| May 6, 2025 | $300M | 4.250% | 2028 (3y) | +50bp | 4.275% |
| May 6, 2025 | $700M | 4.700% | 2031 (6y) | +80bp | 4.703% |
| May 6, 2025 | $1B | 5.300% | 2035 (10y) | +100bp | 5.314% |
| Feb 14, 2024 | $500M | 4.900% | 2029 (5y) | +70bp | 4.943% |
| Feb 14, 2024 | $750M | 5.150% | 2034 (10y) | +93bp | 5.193% |
| Feb 14, 2024 | $1B | 5.450% | 2054 (30y) | +105bp | 5.493% |
From the pricing term sheets Cummins filed with the SEC. Spread is to the benchmark Treasury (or Bund, Gilt) at pricing.
Charts
Live charts: each one redraws from today’s data and has an image link to paste into a document or slide.
Cash flow
Capital returned and raised
What the company says
Hiring and ownership
Filings and records
The last two years of notable 8-Ks, offerings, annual reports, federal awards, lobbying reports, patents and other public records, newest first.
- Oct 20, 2026LobbyingLobbying report (KYLE HOUSE GROUP)third_quarter 2026 · $0.0 million
- Oct 20, 2026LobbyingLobbying report (CUMMINS, INC.)third_quarter 2026 · $0.6 million
- Oct 20, 2026LobbyingLobbying report (VAN SCOYOC ASSOCIATES)third_quarter 2026 · $0.0 million
- Oct 20, 2026Patent
- Oct 20, 2026Patent
- Oct 20, 2026Patent
- Oct 19, 2026LobbyingLobbying report (INVARIANT LLC)third_quarter 2026 · $0.1 million
- Oct 13, 2026Patent
- Oct 13, 2026Patent
- Sep 28, 2026Risk event
- Jul 20, 2026LobbyingLobbying report (VAN SCOYOC ASSOCIATES)second_quarter 2026 · $0.0 million
- Jul 20, 2026LobbyingLobbying report (KYLE HOUSE GROUP)second_quarter 2026 · $0.0 million
- Jul 20, 2026LobbyingLobbying report (CUMMINS, INC.)second_quarter 2026 · $0.5 million
- Jul 17, 2026LobbyingLobbying report (INVARIANT LLC)second_quarter 2026 · $0.1 million
- May 14, 20268-KShareholder vote resultsItem 5.07
- Apr 23, 2026Federal awardFederal award from Department of Defense$30.8 million
- Mar 13, 2026Risk event
- Feb 12, 2026Risk event
- Feb 10, 202610-KAnnual report (10-K)2 risk factors added, 0 removed
- Jul 14, 20258-KDirector or officer changeItem 5.02
- Jun 24, 2025Risk event
- Jun 2, 20258-KMaterial agreement signedItem 1.01
- May 15, 20258-KShareholder vote resultsItem 5.07
- Apr 30, 2025Risk event
- Mar 27, 2025Risk event
- Mar 18, 20258-KDirector or officer changeItem 5.02
- Mar 11, 2025Risk event
- Feb 11, 202510-KAnnual report (10-K)1 risk factors added, 2 removed
- Jan 17, 2025Risk event
- Dec 17, 2024Risk event
- Dec 17, 2024Risk event
- Feb 12, 202410-KAnnual report (10-K)1 risk factors added, 2 removed
Peers
Companies in the same industry in the S&P 500, Russell 1000 or MidCap 400, closest in revenue first. Trailing twelve months, from SEC filings.
| Company | Revenue | Free cash flow | Through |
|---|---|---|---|
| Paccar PCAR | $27.8B | $3.7B | Jun 30, 2026 |
| Wabtec WAB | $12.0B | $1.7B | Jun 30, 2026 |
| Oshkosh Corporation OSK | $10.4B | $0.9B | Mar 31, 2026 |
| Quanta Services PWR | $32.9B | $2.4B | Jun 30, 2026 |
| Ferguson Enterprises FERG | $31.2B | — | Oct 31, 2025 |
| Southwest Airlines LUV | $30.1B | −$0.4B | Jun 30, 2026 |
| Eaton Corp. ETN | $30.0B | $3.9B | Jun 30, 2026 |
| Honeywell International HON | $38.1B | $4.0B | Jun 30, 2026 |