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Cummins Inc

Cummins Inc

CMI
$648.48USD↑+0.10%+0.65 today

MARKET CAP

89.5B

P/E (TTM)

28.9x

FWD P/E

20.7x

DAY RANGE

$622 – $655

52W RANGE

$344
$738

AI Summary

Stalk
TrimMedium

CMI is in a Stage 3 distribution phase with emerging lower highs and lows. Price trades below the declining 9, 21, and 50 EMAs, which are acting as resistance, and distribution volume has been heavier on sell-offs than rallies. Despite an OS reading, no clear oversold exhaustion is visible. Medium-term bias is bearish while the long-term uptrend remains intact above the 200 DMA. Execution should be deferred by trimming into rallies at key EMA resistance zones.

  • ↑Power-gen revenues +19% YoY with record Q4 data-center orders.
  • ↑Q1 2026 revenue $8.4 B (+3% YoY); gross margin at 26.7%.
  • ↓Heavy-duty and medium-duty truck volumes slid 40% YoY; further 25–30% declines expected.
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The case for & against

Bull & Bear analysis

Bullish

Cummins Inc. (NYSE: CMI) is a global leader in the design, manufacture, and distribution of power solutions, including engines, filtration systems, and power generation equipment. The company operates in various markets, notably heavy-duty and medium-duty trucks, power generation, and emerging technologies associated with e-mobility. Cummins is strategically positioned in the energy transition and electrification trend, with a growing focus on clean energy solutions and sustainability initiatives.

Bull says

  • ↑Power-gen revenues +19% YoY with record Q4 data-center orders.
  • ↑Q1 2026 revenue $8.4 B (+3% YoY); gross margin at 26.7%.
  • ↑Dividend raised 10% to $2.20; $519 M capital returned.
  • ↑High momentum and positive earnings revisions signal confidence.
  • ↑Strong balance sheet quality suggests resilience against volatility.
  • ↑International revenue in China up 19% YoY, driven by data-center demand.

Bear says

  • ↓Heavy-duty and medium-duty truck volumes slid 40% YoY; further 25–30% declines expected.
  • ↓Negative earnings-yield and weak profitability factors raise valuation concerns.
  • ↓Ongoing tariff and regulatory shifts introduce planning volatility.
  • ↓Elevated leverage exposure could strain finances if markets worsen.
  • ↓Low institutional 13F ownership indicates muted investor interest.
  • ↓NA truck slump offsets power-gen gains, clouding near-term growth.

Investment themes with CMI

High Dividend Yield↑ +0.32%

Companies paying above-average dividends

AVGO · JPM · XOM

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-07-2026neutral

Transcript signals

Bull points

  • the world's first commercial hybrid electric ultra-class mining truck, now in operation and production at the Casaronas Open Pit Mine in Chile, which reflects our strategy of delivering solutions that reduce CO2 emissions today while advancing our customers' long-term decarbonization goals.
  • a compelling option in the vocational truck segment.
  • We are pleased to share that our expectations for 2026 have improved since our initial guidance issued in February. We are raising our forecast for total company revenues in 2026 to a range of up 8% to 11%, compared to our prior guidance of up 3% to 8%.

Bear points

  • Our first quarter revenues in North America decreased 6% compared to 2025.
  • the demand pull in North America with the change in greenhouse gas regulations has, outside of bus, gone to very low levels. Interest in diesel remains very high and we are continuing to sell electric school buses, but really the demand in trucks is very low and not projected to improve anytime soon.
  • Lower North American truck volumes and higher compensation expenses were partially offset by higher power generation demand, favorable pricing, and increased joint venture income.
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