Cummins Valuation Multiples

Cummins Overview

About Cummins

Cummins is a leading manufacturer of diesel and other engines used in heavy- and medium-duty commercial trucks, off-highway equipment, and locomotives, in addition to prime power and standby generators. The company also sells powertrain components, which include filtration products, transmissions, turbochargers, aftertreatment systems, and fuel systems. Sales are approximately 60% US and Canada and 40% rest of the world. Much of Cummins’ foreign sales (China, India, and so forth) are through joint ventures. The company operates 650 distributors and over 19,000 dealer locations across 190 countries. Cummins’ business model is unique as it competes with many of its heavy-duty truck manufacturer customers, which also make their own engines.

Founded

1919

HQ

Employees

67.4K

Website

cummins.com

Sectors

MachineryIndustrial PartsRailways

Financials (LTM)

Revenue: $34B

EBITDA: $6B

EV

$85B

Valuation Multiples

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Cummins Financials

Cummins reported last 12-month revenue of $34B and EBITDA of $6B.

In the same LTM period, Cummins generated $9B in gross profit, $6B in EBITDA, and $3B in net income.

Cummins P&L

In the most recent fiscal year, Cummins reported revenue of $34B and EBITDA of $5B.

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

Cummins Stock Performance

Cummins has current market cap of $80B, and enterprise value of $85B.

Cummins' stock price is $580.37.

Cummins Valuation Multiples

Cummins trades at 2.5x EV/Revenue multiple, and 15.2x EV/EBITDA.

Cummins Financial Valuation Multiples

As of March 7, 2026, Cummins has market cap of $80B and EV of $85B.

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

Cummins has a P/E ratio of 26.9x.

Cummins Margins & Growth Rates

Cummins' revenue in the last 12 month grew by 7%.

Cummins' revenue per employee in the last FY averaged $0.5M.

Cummins' rule of 40 is 23% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Cummins' rule of X is 33% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Cummins Public Comps

See public comps and valuation multiples for other Machinery and Industrial Parts comps.

Cummins M&A Activity

Cummins acquired XXX companies to date.

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

Cummins Investment Activity

Cummins invested in XXX companies to date.

Cummins made its latest investment on XXXXXXXX, XXXXX. Cummins invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).