Cummins (CMI) Operating Margin (2009 - 2026)
Cummins' Operating Margin came in at 13.52% for Q2 2026, down 0.66 percentage points from 14.18% a year earlier but up 2.22 percentage points from the prior quarter.
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Analysis
Cummins (CMI) Operating Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Cummins reported Operating Margin of 11.22%, down 1.07 percentage points year-over-year; for FY2025, it came in at 11.95%, up 0.96 percentage points from FY2024.
- Operating Margin carries a five-year change of +0.50 percentage points (FY2020 to FY2025).
- Going back by year, Operating Margin was 11.00% in FY2024 (+5.83 pp), 5.17% in FY2023 (-5.26 pp), 10.43% in FY2022 (-0.83 pp) and 11.27% in FY2021 (-0.19 pp).
- The five-year range for quarterly Operating Margin is -14.19% (Q4 2023) to 14.18% (Q2 2025).
- Year-over-year, Operating Margin increased in five of the last eight quarters, with an average year-over-year change of +3.08 percentage points.
- The fastest year-over-year change in Operating Margin over five years came in Q4 2024 (a gain of 22.85 percentage points), and the weakest in Q4 2023 (a drop of 24.51 percentage points).
- Business Quant data shows CMI's Operating Margin at 11.30% (Q1 2026), 9.52% (Q4 2025) and 10.24% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Caterpillar | 338.73 Bn | 310.43 Bn | 7.76 Bn | 20.91% |
| 2 | Amphenol | 197.21 Bn | 191.79 Bn | 3.55 Bn | 29.51% |
| 3 | Deere | 170.85 Bn | 138.94 Bn | 4.66 Bn | 14.72% |
| 4 | Eaton | 152.03 Bn | 149.21 Bn | 2.86 Bn | 16.32% |
| 5 | Parker-Hannifin | 119.92 Bn | 118.04 Bn | 2.25 Bn | 23.86% |
| 6 | Emerson Electric | 90.18 Bn | 82.92 Bn | 2.66 Bn | 26.92% |
| 7 | 3M | 87.39 Bn | 68.79 Bn | 2.68 Bn | 15.14% |
| 8 | Vertiv Holdings | 83.72 Bn | 74.34 Bn | 1.23 Bn | 19.48% |
| 9 | Illinois Tool Works | 78.83 Bn | 75.39 Bn | 1.90 Bn | 26.67% |
| 10 | Cummins | 74.66 Bn | 70.74 Bn | 2.47 Bn | 13.52% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 13.52% |
| Mar 31, 2026 | 11.30% |
| Dec 31, 2025 | 9.52% |
| Sep 30, 2025 | 10.24% |
| Jun 30, 2025 | 14.18% |
| Mar 31, 2025 | 13.87% |
| Dec 31, 2024 | 8.67% |
| Sep 30, 2024 | 12.42% |
| Jun 30, 2024 | 11.88% |
| Mar 31, 2024 | 10.98% |
| Dec 31, 2023 | -14.19% |
| Sep 30, 2023 | 11.27% |
| Jun 30, 2023 | 11.54% |
| Mar 31, 2023 | 12.14% |
| Dec 31, 2022 | 10.32% |
| Sep 30, 2022 | 8.54% |
| Jun 30, 2022 | 13.62% |
| Mar 31, 2022 | 9.46% |
| Dec 31, 2021 | 8.46% |
| Oct 3, 2021 | 11.16% |
API Access
Cummins Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=CMI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "CMI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=CMI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();