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Cummins India Valuation Multiples

Discover revenue and EBITDA valuation multiples for Cummins India and similar public comparables like Bosh India, Aalberts, and ABB India.

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 $237M

EV

$8.7B

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Cummins India Financials

Cummins India has a last 12-month revenue of $1.2B and a last 12-month EBITDA of $237M.

In the most recent fiscal year, Cummins India achieved revenue of $1.0B and an EBITDA of $278M.

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

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Cummins India P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $888M $1.0B XXX XXX XXX
Gross Profit $213M $265M XXX XXX XXX
Gross Margin 24% 26% XXX XXX XXX
EBITDA $203M $278M XXX XXX XXX
EBITDA Margin 23% 27% XXX XXX XXX
Net Profit $108M $143M XXX XXX XXX
Net Margin 12% 14% XXX XXX XXX
Net Debt $25.2M n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Cummins India Stock Performance

As of April 15, 2025, Cummins India's stock price is INR 2816 (or $33).

Cummins India has current market cap of INR 780B (or $9.1B), and EV of INR 752B (or $8.7B).

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Cummins India Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$8.7B $9.1B XXX XXX XXX XXX $0.81

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Cummins India Valuation Multiples

As of April 15, 2025, Cummins India has market cap of $9.1B and EV of $8.7B.

Cummins India's trades at 7.1x LTM EV/Revenue multiple, and 36.9x LTM EBITDA.

Analysts estimate Cummins India's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Cummins India Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $8.7B XXX XXX XXX
EV/Revenue 7.4x XXX XXX XXX
EV/EBITDA 35.5x XXX XXX XXX
P/E 42.0x XXX XXX XXX
P/E/Growth 3.1x XXX XXX XXX
EV/FCF 58.4x XXX XXX XXX

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

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Cummins India Valuation Multiples

Cummins India's NTM/LTM revenue growth is 15%

Cummins India's revenue per employee for the last fiscal year averaged $0.3M, while opex per employee averaged $50K for the same period.

Over next 12 months, Cummins India's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Cummins India's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Cummins India Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 16% XXX XXX XXX XXX
EBITDA Margin 21% XXX XXX XXX XXX
EBITDA Growth 37% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 36% XXX XXX XXX XXX
Revenue per Employee $0.3M XXX XXX XXX XXX
Opex per Employee $50K XXX XXX XXX XXX
S&M Expenses to Revenue 0% XXX XXX XXX XXX
G&A Expenses to Revenue 0% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 15% XXX 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
ABB India XXX XXX XXX XXX XXX XXX
Escorts Kubota XXX XXX XXX XXX XXX XXX
Bosh India 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, ABB India, Escorts Kubota.
What is the current market cap of Cummins India? Cummins India's current market cap is $9.1B
What is the current revenue of Cummins India? Cummins India's last 12-month revenue is $1.2B.
What is the current EBITDA of Cummins India? Cummins India's last 12-month EBITDA is $237M.
What is the current EV/Revenue multiple of Cummins India? Current revenue multiple of Cummins India is 7.1x.
What is the current EV/EBITDA multiple of Cummins India? Current EBITDA multiple of Cummins India is 36.9x.
What is the current revenue growth of Cummins India? Cummins India revenue growth between 2023 and 2024 was 16%.
Is Cummins India profitable? Yes, Cummins India is EBITDA-positive (as of the last 12 months).

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