Filing Flows › Cummins (CMI) › Q4 2025
Cummins (CMI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 10, 2026
Cummins (CMI) reported revenue of $8.5B for the fourth quarter 2025 (Q4 2025), +1% from a year earlier and +3% from the quarter before. Operating margin was 9.5%, net earnings $593M (6.9% of revenue).
Cummins, Q4 2025: revenue $8.5B (+1% year over year), operating margin 9.5%, net earnings $593M, operating cash flow $1.5B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.5B | +3% | +1% |
| Gross profit | $2.0B | -8% | -4% |
| Operating profit | $813M | -5% | +11% |
| Net earnings | $593M | +11% | +42% |
| Operating cash flow | $1.5B | +18% | +8% |
| Free cash flow | $990M | -2% | +12% |
What changed
Revenue was $8.5B in Q4 2025, up 1% year over year and up 3% from the previous quarter.
Gross margin was 22.9%, down 1.2 points from a year earlier. Operating profit was $0.81B, a 9.5% margin (up 0.9 points year over year). Of the extra revenue versus a year earlier, 91% reached operating profit, above the 9% margin then. Operating expenses fell 13% while revenue rose 1%. Net earnings were $0.59B, up 42% year over year. The effective tax rate was 21.6%.
Operating cash flow was $1.5B (up 8% year over year), 247% of net income including minority interests. Non-cash charges added back $0.28B of depreciation and amortization. Working capital and other items added $0.63B. Capital expenditures of $0.54B left free cash flow of $1.0B.
Questions
What was Cummins' revenue in the fourth quarter 2025?
Cummins (CMI) reported revenue of $8.5B for the fourth quarter 2025 (Q4 2025), +1% from a year earlier and +3% from the quarter before.
Was Cummins profitable in the fourth quarter 2025?
Operating profit was $813M (9.5% of revenue) and net earnings $593M.
Source: Cummins 10-K on SEC EDGAR.