Cummins (CMI) Return on Invested Capital [ROIC] (2009 - 2026)
Cummins' Return on Invested Capital [ROIC] came in at 13.63% for Q2 2026, down 2.13 percentage points from 15.76% a year earlier and down 0.06 percentage points from the prior quarter.
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Analysis
Cummins (CMI) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, Cummins' Return on Invested Capital [ROIC] was 15.52%, down 2.58 percentage points from FY2024.
- Return on Invested Capital [ROIC] carries a five-year change of +0.48 percentage points (FY2020 to FY2025).
- Going back by year, Return on Invested Capital [ROIC] was 18.10% in FY2024 (+12.74 pp), 5.36% in FY2023 (-9.46 pp), 14.83% in FY2022 (-1.75 pp) and 16.57% in FY2021 (+1.54 pp).
- The Q2 2026 figure represents the lowest quarterly Return on Invested Capital [ROIC] since Q3 2024.
- Year-over-year, Return on Invested Capital [ROIC] has declined for three consecutive quarters, with an average year-over-year change of +2.53 percentage points over the last eight quarters.
- The fastest year-over-year change in Return on Invested Capital [ROIC] over five years came in Q4 2024 (a gain of 11.87 percentage points), and the weakest in Q3 2024 (a drop of 8.54 percentage points).
- Business Quant data shows CMI's Return on Invested Capital [ROIC] at 13.69% (Q1 2026), 14.63% (Q4 2025) and 13.94% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Caterpillar | 274.19 Bn | 245.49 Bn | 7.35 Bn | 16.80% |
| 2 | Amphenol | 198.54 Bn | 193.24 Bn | 4.02 Bn | 18.53% |
| 3 | Deere | 186.04 Bn | 154.13 Bn | 4.66 Bn | 5.47% |
| 4 | Eaton | 139.66 Bn | 136.59 Bn | 3.11 Bn | 10.72% |
| 5 | Parker-Hannifin | 120.67 Bn | 118.56 Bn | 2.26 Bn | 13.34% |
| 6 | 3M | 97.83 Bn | 79.27 Bn | 2.78 Bn | 22.04% |
| 7 | Emerson Electric | 94.87 Bn | 87.61 Bn | 2.66 Bn | 10.94% |
| 8 | Illinois Tool Works | 81.52 Bn | 78.19 Bn | 1.91 Bn | 27.11% |
| 9 | Vertiv Holdings | 76.99 Bn | 65.83 Bn | 1.64 Bn | 26.27% |
| 10 | Cummins | 64.10 Bn | 59.92 Bn | 2.62 Bn | 16.24% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 16.24% |
| Jun 30, 2026 | 13.63% |
| Mar 31, 2026 | 13.69% |
| Dec 31, 2025 | 14.63% |
| Sep 30, 2025 | 13.94% |
| Jun 30, 2025 | 15.76% |
| Mar 31, 2025 | 16.19% |
| Dec 31, 2024 | 17.03% |
| Sep 30, 2024 | 7.38% |
| Jun 30, 2024 | 7.25% |
| Mar 31, 2024 | 7.37% |
| Dec 31, 2023 | 5.16% |
| Sep 30, 2023 | 15.92% |
| Jun 30, 2023 | 14.48% |
| Mar 31, 2023 | 14.71% |
| Dec 31, 2022 | 13.01% |
| Sep 30, 2022 | 12.86% |
| Jun 30, 2022 | 15.84% |
| Mar 31, 2022 | 15.02% |
| Dec 31, 2021 | 16.67% |
API Access
Cummins Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=CMI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=CMI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();