Cummins Inc.
Explore Cummins Inc.
Core profile pages, annual revenue records, and related research hubs for this company.
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Cummins Inc.
Explore Cummins Inc.
Core profile pages, annual revenue records, and related research hubs for this company.
Annual Revenue
FY2025 Revenue
$33.7B
▼ 2.1% vs FY2024 ($34.4B)
Source: Annual report / company filing
Cummins Inc. reported $33.7B in revenue for fiscal year 2025. This represents a decline of 2.1% compared to the 2024 figure of $34.4B.
CEO Jennifer Rumsey, who took over in 2022, is executing a $1 billion capital allocation strategy to extend Cummins's powertrain expertise into hydrogen fuel cells, battery electric systems, and natural gas engines. Revenue reached $33.7B in FY2025, with net income of $3.0 billion and a 25.2% gross margin. The $42 billion market capitalization reflects a company with a 40% domestic market share, a global distribution network that took a century to build, and an 18% return on invested capital. Cummins's revenue grew from $29.1 billion in 2022 to $33.2 billion in 2023 to $33.7B in FY2025, a trajectory that reflects both market share stability in diesel and early-stage revenue from alternative powertrain products. Net income of $3.0 billion on $34.4 billion in revenue — an 8.7% net margin — is consistent with the capital-intensive, high-volume manufacturing profile of a company that produces precision mechanical components at global scale. The 25.2% gross margin holds up across engine generations and reflects the pricing power of a 40% market share position. The 18% return on invested capital across a business with $34 billion in revenue and $42 billion in market capitalization is exceptional for heavy equipment manufacturing. The $1 billion alternative powertrain investment program will compress near-term returns as the company builds capabilities in hydrogen, battery electric, and natural gas systems.
| Year | Revenue | Net Income | YoY Change |
|---|---|---|---|
| FY2025 | $33.7B | — | -2.1% |
| FY2024 | $34.4B | $3.0B | +3.6% |
| FY2023 | $33.2B | — | +14.1% |
| FY2022 | $29.1B | — | — |
Source: SEC EDGAR filings, annual earnings releases, and verified financial disclosures.