Cummins (CMI) Operating Margin (2009 - 2026)
Cummins' (CMI) quarterly Operating Margin came in at 11.3% in Q1 2026, down 257.0% YoY from 7.2% in Q1 2025, and up 18.65% on a QoQ basis from 9.52% in Q4 2025.
Cummins (CMI) Operating Margin (2009 - 2026) Analysis & Trends
Cummins (CMI) has 18 years of Operating Margin data on file, last reported at 11.3% in Q1 2026.
- Quarterly Operating Margin fell 257.0% year-over-year to 11.3% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 11.33% (down 36.0% YoY) and the FY2025 annual result came in at 11.95%, up 96.0% from the prior year.
- Operating Margin rose to 11.3% in Q1 2026, from 9.52% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 14.18% in Q2 2025 to a low of 14.19% in Q4 2023.
- A 5-year average of 9.75% and a median of 11.27% in 2023 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2022 — Operating Margin plunged 16445 bps — and 2024, when it surged 2285 bps.
- Tracing CMI's Operating Margin over 5 years: stood at 10.32% in 2022, then slumped by 237 bps to 14.19% in 2023, then surged by 161 bps to 8.67% in 2024, then increased by 10 bps to 9.52% in 2025, then advanced by 19 bps to 11.3% in 2026.
- The last three Operating Margin figures came in at 11.3% (Q1 2026), 9.52% (Q4 2025), and 10.24% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 256.93 Bn | 243.81 Bn | 2.36 Bn | 5.88% |
| 2 | Eaton | 163.64 Bn | 162.95 Bn | 2.86 Bn | 16.32% |
| 3 | Parker-Hannifin | 126.00 Bn | 125.53 Bn | 2.02 Bn | 20.65% |
| 4 | Emerson Electric | 87.31 Bn | 85.13 Bn | 2.66 Bn | 26.92% |
| 5 | Cummins | 81.77 Bn | 77.10 Bn | 2.47 Bn | 13.52% |
| 6 | Illinois Tool Works | 80.89 Bn | 80.05 Bn | 1.90 Bn | 26.67% |
| 7 | Ametek | 54.72 Bn | 54.23 Bn | 735.04 Mn | 25.84% |
| 8 | Rockwell Automation | 48.47 Bn | 48.00 Bn | 1.14 Bn | 20.80% |
| 9 | Ingersoll Rand | 31.69 Bn | 30.52 Bn | 862.60 Mn | 18.56% |
| 10 | Otis Worldwide | 27.55 Bn | 26.74 Bn | 1.14 Bn | 14.90% |
Historic Data
Download 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 | 172.99% |