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Cummins India Valuation Multiples

Discover revenue and EBITDA valuation multiples for Cummins India and similar public comparables like Petros Petropoulos, Frigoglass, and Doppler.

Cummins India Overview

About Cummins India

Cummins India Ltd designs and manufactures service engines and engages in allied activities. The company produces fuel systems, air handling, filtration, emission solutions, and electrical power generation systems in facilities across India. The company's business units are; Engines, Power Systems, Components, and Distribution. Its operating segments are; Engines and Lubes. Maximum revenue is generated from its Engines segment which manufactures engines from 60 HP for low, medium, and heavy-duty on-highway commercial vehicle markets and off-highway commercial equipment industry spanning construction and compressor.


Founded

1962

HQ

India
Employees

3.1K+

Financials

LTM Revenue $1.2B

LTM EBITDA $243M

EV

$10.2B

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Cummins India Financials

Cummins India has a last 12-month revenue (LTM) of $1.2B and a last 12-month EBITDA of $243M.

In the most recent fiscal year, Cummins India achieved revenue of $1.2B and an EBITDA of $327M.

Cummins India expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Cummins India P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $1.2B XXX $1.2B XXX XXX XXX
Gross Profit $442M XXX $424M XXX XXX XXX
Gross Margin 36% XXX 35% XXX XXX XXX
EBITDA $243M XXX $327M XXX XXX XXX
EBITDA Margin 20% XXX 27% XXX XXX XXX
EBIT $226M XXX $222M XXX XXX XXX
EBIT Margin 18% XXX 19% XXX XXX XXX
Net Profit $231M XXX $234M XXX XXX XXX
Net Margin 19% XXX 20% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Cummins India Stock Performance

As of May 30, 2025, Cummins India's stock price is INR 3267 (or $38).

Cummins India has current market cap of INR 906B (or $10.6B), and EV of INR 871B (or $10.2B).

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Cummins India Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$10.2B $10.6B XXX XXX XXX XXX $0.84

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Cummins India Valuation Multiples

As of May 30, 2025, Cummins India has market cap of $10.6B and EV of $10.2B.

Cummins India's trades at 8.8x EV/Revenue multiple, and 32.3x EV/EBITDA.

Equity research analysts estimate Cummins India's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Cummins India has a P/E ratio of 45.9x.

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Cummins India Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $10.6B XXX $10.6B XXX XXX XXX
EV (current) $10.2B XXX $10.2B XXX XXX XXX
EV/Revenue 8.3x XXX 8.8x XXX XXX XXX
EV/EBITDA 41.9x XXX 32.3x XXX XXX XXX
EV/EBIT 45.1x XXX 47.7x XXX XXX XXX
EV/Gross Profit 23.1x XXX n/a XXX XXX XXX
P/E 45.9x XXX 46.9x XXX XXX XXX
EV/FCF 57.8x XXX 65.3x XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Cummins India Margins & Growth Rates

Cummins India's last 12 month revenue growth is 15%

Cummins India's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.1M for the same period.

Cummins India's rule of 40 is 42% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Cummins India's rule of X is 57% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Cummins India Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 15% XXX 15% XXX XXX XXX
EBITDA Margin 20% XXX 27% XXX XXX XXX
EBITDA Growth 13% XXX -3% XXX XXX XXX
Rule of 40 42% XXX 42% XXX XXX XXX
Bessemer Rule of X XXX XXX 57% XXX XXX XXX
Revenue per Employee XXX XXX $0.4M XXX XXX XXX
Opex per Employee XXX XXX $0.1M XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 17% XXX XXX XXX

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Cummins India Public Comps

See public comps and valuation multiples for Machinery and Industrial Parts comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
XXX XXX XXX XXX XXX XXX
Aalberts XXX XXX XXX XXX XXX XXX
Doppler XXX XXX XXX XXX XXX XXX
Frigoglass XXX XXX XXX XXX XXX XXX
Petros Petropoulos XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Cummins India M&A and Investment Activity

Cummins India acquired  XXX companies to date.

Last acquisition by Cummins India was  XXXXXXXX, XXXXX XXXXX XXXXXX . Cummins India acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Cummins India

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Cummins India

When was Cummins India founded? Cummins India was founded in 1962.
Where is Cummins India headquartered? Cummins India is headquartered in India.
How many employees does Cummins India have? As of today, Cummins India has 3.1K+ employees.
Is Cummins India publicy listed? Yes, Cummins India is a public company listed on BOM.
What is the stock symbol of Cummins India? Cummins India trades under 500480 ticker.
When did Cummins India go public? Cummins India went public in 1991.
Who are competitors of Cummins India? Similar companies to Cummins India include e.g. , Aalberts, Doppler, Frigoglass.
What is the current market cap of Cummins India? Cummins India's current market cap is $10.6B
What is the current revenue of Cummins India? Cummins India's last 12 months revenue is $1.2B.
What is the current revenue growth of Cummins India? Cummins India revenue growth (NTM/LTM) is 15%.
What is the current EV/Revenue multiple of Cummins India? Current revenue multiple of Cummins India is 8.3x.
Is Cummins India profitable? Yes, Cummins India is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Cummins India? Cummins India's last 12 months EBITDA is $243M.
What is Cummins India's EBITDA margin? Cummins India's last 12 months EBITDA margin is 20%.
What is the current EV/EBITDA multiple of Cummins India? Current EBITDA multiple of Cummins India is 41.9x.
What is the current FCF of Cummins India? Cummins India's last 12 months FCF is $176M.
What is Cummins India's FCF margin? Cummins India's last 12 months FCF margin is 14%.
What is the current EV/FCF multiple of Cummins India? Current FCF multiple of Cummins India is 57.8x.

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