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Cummins (CMI) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Cummins (CMI) Q3 2026 earnings results →
Q3 2026 Revenue up 14% year over year to $9.4B · 12¢ of every $1 of revenue kept as net profit · operating margin 15.3%
Cummins made $9.4B in Q3 2026 (+14% Y/Y): Distribution $3.3B, Components $2.4B, Engine $2.4B. Operating margin 15.3%, net earnings $1.1B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $9.4B in Q3 2026, up 13% year over year and roughly flat from the previous quarter. Distribution was the largest line at 35% of revenue. Engine added $0.47B year over year (up 24%), 42% of the total change. Accelera declined 16%.
Gross margin was 27.7%, up 2.1 points from Q3 2025. Operating profit was $1.4B, a 15.3% margin (up 5.1 points year over year). Of the extra revenue versus Q3 2025, 53% reached operating profit, above the 10% margin then. Operating expenses fell 8% while revenue rose 13%. Net earnings were $1.1B, up 113% year over year. The effective tax rate was 17.7%.
Operating cash flow was $1.4B (up 8% year over year), 120% of net income including minority interests. Non-cash charges added back $0.29B of depreciation and amortization. Capital expenditures of $0.30B left free cash flow of $1.1B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $9.4B | +14% | 15.3% | $1.1B | $1.4B |
| Q2 2026 | 10-Q | Aug 4, 2026 | $9.5B | +9% | 13.5% | $932M | $1.5B |
| Q1 2026 | 10-Q | May 5, 2026 | $8.4B | +3% | 11.3% | $654M | $309M |
| Q4 2025 | 10-K | Feb 10, 2026 | $8.5B | +1% | 9.5% | $593M | $1.5B |
| Q3 2025 | 10-Q | Nov 6, 2025 | $8.3B | -2% | 10.2% | $536M | $1.3B |
| Q2 2025 | 10-Q | Aug 5, 2025 | $8.6B | -2% | 14.2% | $890M | $785M |
| Q1 2025 | 10-Q | May 5, 2025 | $8.2B | -3% | 13.9% | $824M | −$3.0M |
Charts
In supply chains and themes
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- PCAR — 13% of its revenue · Stated in 10-K (sentence) · source
- USAC · Stated in 10-K (named, share not stated) · source
- SYPR · Stated in 10-K (named, share not stated) · source
Buys from
About Cummins
We were founded in 1919 as Cummins Engine Company, a corporation in Columbus, Indiana, and one of the first diesel engine manufacturers. In 2001, we changed our name to Cummins Inc. We are a global power leader committed to powering a more prosperous world. Since 1919, we have delivered innovative solutions that move people, goods and economies forward. Our five reportable segments - Engine, Components, Distribution, Power Systems and Accelera - offer a broad portfolio, including advanced diesel, electric and hybrid powertrains; integrated power generation systems; critical components such as aftertreatment, turbochargers, fuel systems, controls, transmissions, axles and brakes; and zero emissions technologies like battery and electric powertrain systems.
In its own words, from its 10-K, filed Feb 10, 2026.
Cummins against its Engines & Turbines peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +14% against the peers' median +7%. Operating margin: 15.3% against the peers' median 13.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CMI Cummins | Q3 2026 | $9.4B | +14% | 15.3% |
| BC Brunswick | Q3 2026 | $1.5B | +7% | 7.2% |
| BWXT BWX Technologies | Q3 2026 | $953M | +10% | 13.9% |
| PSIX Power Solutions International | Q3 2026 | $202M | -0.9% | 20.2% |
| CEPL Capstone Energy Plus | Q1 FY27 | $24.9M | -11% | 3.9% |
Source: Cummins 10-Q on SEC EDGAR · CIK 26172 · Engines & Turbines
Guidance and outlook
13F: who owns CMI and who is buying
More on CMI
- How Cummins makes money: revenue by segment
- Cummins next earnings date and what analysts expect
- Cummins stock forecast, price target and fair value
- Who owns Cummins stock: holders, funds and Congress trades
- Cummins guidance and outlook
- Is Cummins a takeover target? LBO and rumors
- Cummins recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Cummins guidance history: guided vs reported
- Cummins gross margin by quarter
- Cummins operating margin by quarter
- Cummins net income by quarter
- Cummins free cash flow by quarter
- Cummins R&D spending by quarter
- Cummins capital expenditures by quarter
- Cummins Distribution revenue by quarter
- Cummins Components revenue by quarter
- Cummins Engine revenue by quarter