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Engines & Turbines: capital spending and supply chain

SIC 3510 · 5 companies with filed cash-flow statements

Capital spending, 12 months$1.7B
Operating cash flow$6.0B
Capex / cash flow28%
Capex / revenue3.7%
Top 3 share99%

Analysis

5 companies in Engines & Turbines (SIC 3510) spent $1.7B on capital projects over their latest twelve months, 28% of the $6.0B their operations generated; the three largest spenders — CMI, BWXT, BC — account for 99%.

Capital spending is 3.7% of the industry's $45.9B of annual revenue.

By the industry's asset mix most of it goes to equipment (50%); about $326M is imported.

The largest supplier of that spending is manufacturing structures ($456M).

Its largest supplying industries, by the input-output tables: imports ($5.0B), other motor vehicle parts manufacturing ($2.3B), other durable goods merchant wholesalers ($1.1B).

Charts

Engines & Turbines: capital spending by company, latest twelve monthsEngines & Turbines: capital spending by company, latest twelve monthsCMI$1.3BBWXT$206MBC$198MPSIX$8.3MCEPL$1.6M
Filed cash-flow statements (SEC XBRL).
Engines & Turbines: what the capital spending buys (US part)Engines & Turbines: what the capital spending buys (US part)Structures$471MEquipment$683MSoftware$128MOther$91.1M
Capital spending × the industry’s asset mix (BEA fixed assets): grade C, an industry average applied to filed figures.
Engines & Turbines: the industries that build and sell what it buysEngines & Turbines: the industries that build and sell what it buysManufacturing structures$456MMachine tool manufacturing$99.3MSoftware publishers$71.0MCutting and machine tool accessor…$68.2MSpecial tool, die, jig, and fixtu…$67.6MMaterial handling equipment manuf…$54.6MAir conditioning, refrigeration, …$50.8MOther general purpose machinery m…$39.3MMeasuring, dispensing, and other …$32.0MAir and gas compressor manufactur…$29.9M
BEA fixed assets: investment by asset type → supplying industry. Estimates (grade C).
Engines & Turbines: its first-tier supplying industriesEngines & Turbines: its first-tier supplying industriesImports$5.0BOther motor vehicle parts manufac…$2.3BOther durable goods merchant whol…$1.1BMotor vehicle metal stamping$932MMachinery, equipment, and supplies$931MMotor vehicle and motor vehicle p…$888MManagement of companies and enter…$741MOther plastics product manufactur…$666MTurned product and screw, nut, an…$660MNonferrous metal foundries$659M
Purchased inputs × the industry’s input mix (BEA Use table), US part: grade C.
Engines & Turbines: where the industry's cash came from (+) and went (−)Engines & Turbines: where the industry's cash came from (+) and went (−)Operating cash flow$6.0BCapital spending−$1.7BCash added to the balance she…−$1.5BOther financing (in)$1.5BNet debt repaid−$1.4BDividends−$1.3BOther financing (out)−$976MOther investing (out)−$313MAcquisitions−$186MBuybacks−$75.0MPaid to partners−$55.0MCash drawn from the balance s…$47.0MTaxes paid on employees' shar…−$36.9MOther investing (in)$19.4M
The companies’ cash-flow statements, latest four quarters or fiscal year: every figure filed (grade A).

Capital spending by company

CompanyCapital spendingOperating cash flowCapex / OCFPeriod
CMI Cummins$1.3B$4.7B27%TTM to Q3 2026
BWXT BWX Technologies$206M$579M36%TTM to Q3 2026
BC Brunswick$198M$569M35%TTM to Q3 2026
PSIX Power Solutions International$8.3M$112M7%TTM to Q3 2026
CEPL Capstone Energy Plus$1.6M$4.5M36%TTM to Q1 FY27

Customers and suppliers named in annual reports

SupplierCustomerShare of supplier revenueEvidenceSource
CMIPCAR13%Stated in 10-K (sentence)filing
BWXTU.S. government68%Stated in 10-K (sentence)filing
CTSCMI8%Stated in 10-K (XBRL)filing
CEPLCal Microturbine, LLC16%Stated in 10-K (XBRL)filing
BCHZO—Stated in 10-K (named, share not stated)filing
CMIUSAC—Stated in 10-K (named, share not stated)filing
CMISYPR—Stated in 10-K (named, share not stated)filing

The interactive money flow: switch views, follow each dollar →

Evidence grades: A filed figure · B computed from filed figures · C industry average (BEA input-output and fixed-asset tables) applied to filed figures. Estimates are not the companies’ own records. Not investment advice.