Cummins (CMI) Operating Expenses (2009 - 2025)

Cummins' (CMI) annual Operating Expenses came in at $4.5 billion in FY2025, down 4.58% year-over-year from $4.7 billion in FY2024.

Cummins (CMI) Operating Expenses (2009 - 2025) Analysis & Trends

Cummins (CMI) has 17 years of Operating Expenses data on file, last reported at $4.5 billion in FY2025.

Quarterly Operating Expenses rose 7.89% year-over-year to $1.2 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $4.6 billion (up 31.69% YoY) and the FY2025 annual result came in at $4.5 billion, down 4.58% from the prior year.
Operating Expenses slipped to $4.5 billion in FY2025, from $4.7 billion in the prior year.
In the past five years, Operating Expenses ranged from a high of $4.8 billion in FY2023 to a low of $3.5 billion in FY2021.
A 5-year average of $4.3 billion and a median of $4.5 billion in 2025 frame the typical range for Operating Expenses.
Annual changes were most pronounced in 2023 — Operating Expenses gained 21.89% — and 2025, when it decreased 4.58%.
Tracing CMI's Operating Expenses over 5 years: stood at $3.5 billion in 2021, then increased by 14.46% to $4.0 billion in 2022, then advanced by 21.89% to $4.8 billion in 2023, then dropped by 1.97% to $4.7 billion in 2024, then retreated by 4.58% to $4.5 billion in 2025.
The last three Operating Expenses figures came in at $4.5 billion (FY2025), $4.7 billion (FY2024), and $4.8 billion (FY2023), per Business Quant data.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Opex (Yr)
1	GE Vernova	256.94 Bn	243.82 Bn	2.36 Bn	-
2	Eaton	163.14 Bn	162.45 Bn	2.86 Bn	-
3	Parker-Hannifin	126.50 Bn	126.02 Bn	2.02 Bn	-
4	Emerson Electric	87.87 Bn	85.69 Bn	2.66 Bn	-
5	Cummins	81.13 Bn	76.46 Bn	2.47 Bn	-
6	Illinois Tool Works	80.86 Bn	80.02 Bn	1.90 Bn	-
7	Ametek	54.87 Bn	54.38 Bn	735.04 Mn	-
8	Rockwell Automation	48.51 Bn	48.03 Bn	1.14 Bn	-
9	Ingersoll Rand	31.31 Bn	30.14 Bn	862.60 Mn	-
10	Otis Worldwide	27.38 Bn	26.57 Bn	1.14 Bn	-

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