Cummins (CMI) Gross Margin (2009 - 2026)
Cummins' (CMI) quarterly Gross Margin came in at 26.07% in Q2 2026, down 33.0% on a YoY basis from 38.9% in Q2 2025, and down 2.41% quarter-over-quarter from 26.71% in Q1 2026.
Analysis
Cummins (CMI) Gross Margin (2009 - 2026) Analysis & Trends
Cummins (CMI) has reported Gross Margin for 18 consecutive years, with 26.07% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin fell 33.0% year-over-year to 26.07%; the trailing twelve-month figure through Jun 2026 stood at 25.32% (down 31.0% YoY), and the FY2025 full-year result was 25.29%, up 55.0% from the prior year.
- Gross Margin slipped to 26.07% in Q2 2026 per CMI's latest filing, from 26.71% in the prior quarter.
- Across five years, Gross Margin topped out at 26.71% in Q1 2026 and bottomed at 22.39% in Q3 2022.
- Historically, Gross Margin has averaged 24.77% across 5 years, with a median of 24.72% in 2023.
- The widest YoY moves for Gross Margin: up 217 bps in 2023, down 134 bps in 2023.
- Over 5 years, Gross Margin stood at 23.41% in 2022, then climbed by 0 bps to 23.42% in 2023, then grew by 3 bps to 24.08% in 2024, then declined by 5 bps to 22.86% in 2025, then advanced by 14 bps to 26.07% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 26.07%, 26.71%, and 22.86% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Caterpillar | 374.13 Bn | 367.42 Bn | 7.76 Bn | 37.78% |
| 2 | Cummins | 77.17 Bn | 73.56 Bn | 2.47 Bn | 26.07% |
| 3 | Paccar | 65.64 Bn | 56.97 Bn | 1.56 Bn | 20.64% |
| 4 | Borgwarner | 13.75 Bn | 11.48 Bn | 721.00 Mn | 19.76% |
| 5 | Allison Transmission Holdings | 10.84 Bn | 10.44 Bn | 515.00 Mn | 32.89% |
| 6 | Oshkosh | 9.71 Bn | 9.31 Bn | 480.30 Mn | 16.48% |
| 7 | Federal Signal | 7.29 Bn | 7.22 Bn | 203.80 Mn | 30.41% |
| 8 | Terex | 7.23 Bn | 6.82 Bn | 444.00 Mn | 19.84% |
| 9 | Dana | 3.45 Bn | 3.18 Bn | 210.00 Mn | 10.45% |
| 10 | Phinia | 2.53 Bn | 2.16 Bn | 216.00 Mn | 22.98% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 26.07% |
| Mar 31, 2026 | 26.71% |
| Dec 31, 2025 | 22.86% |
| Sep 30, 2025 | 25.60% |
| Jun 30, 2025 | 26.39% |
| Mar 31, 2025 | 26.36% |
| Dec 31, 2024 | 24.08% |
| Sep 30, 2024 | 25.67% |
| Jun 30, 2024 | 24.93% |
| Mar 31, 2024 | 24.29% |
| Dec 31, 2023 | 23.42% |
| Sep 30, 2023 | 24.56% |
| Jun 30, 2023 | 24.87% |
| Mar 31, 2023 | 24.00% |
| Dec 31, 2022 | 23.41% |
| Sep 30, 2022 | 22.39% |
| Jun 30, 2022 | 26.21% |
| Mar 31, 2022 | 23.99% |
| Dec 31, 2021 | 22.51% |
| Oct 3, 2021 | 23.69% |