Cummins annual operating margin
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2024
2025
Cummins Operating Margin Growth & History (CMI)
Cummins's operating margin was 11.95% for fiscal 2025.
View full Cummins company overviewCummins annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 11.95% | +0.96 pp |
| 2024 | 2024-12-31 | 11.00% | +5.83 pp |
| 2023 | 2023-12-31 | 5.17% | −5.26 pp |
| 2022 | 2022-12-31 | 10.43% | −0.83 pp |
| 2021 | 2021-12-31 | 11.27% | −0.19 pp |
| 2020 | 2020-12-31 | 11.45% | −0.00 pp |
| 2019 | 2019-12-31 | 11.45% | −0.27 pp |
| 2018 | 2018-12-31 | 11.72% | +0.29 pp |
| 2017 | 2017-12-31 | 11.43% | +0.69 pp |
| 2016 | 2016-12-31 | 10.74% | −0.03 pp |
| 2015 | 2015-12-31 | 10.76% | −1.54 pp |
| 2014 | 2014-12-31 | 12.30% | +0.16 pp |
| 2013 | 2013-12-31 | 12.14% | −0.86 pp |
| 2012 | 2012-12-31 | 13.00% | −1.85 pp |
| 2011 | 2011-12-31 | 14.85% | +2.74 pp |
| 2010 | 2010-12-31 | 12.11% | +5.80 pp |
| 2009 | 2009-12-31 | 6.31% | −2.55 pp |
| 2008 | 2008-12-31 | 8.87% | −0.01 pp |
| 2007 | 2007-12-31 | 8.87% | — |
Cummins quarterly operating margin
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Q4.10
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Q1.19
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Q2.21
Q3.21
Q4.21
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Q4.22
Q1.23
Q2.23
Q3.23
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Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 13.52% | −0.66 pp |
| Q1 2026 | 2026-03-31 | 11.30% | −2.57 pp |
| Q4 2025 | 2025-12-31 | 9.52% | +0.86 pp |
| Q3 2025 | 2025-09-30 | 10.24% | −2.17 pp |
| Q2 2025 | 2025-06-30 | 14.18% | +2.30 pp |
| Q1 2025 | 2025-03-31 | 13.87% | +2.89 pp |
| Q4 2024 | 2024-12-31 | 8.67% | +22.85 pp |
| Q3 2024 | 2024-09-30 | 12.42% | +1.15 pp |
| Q2 2024 | 2024-06-30 | 11.88% | +0.34 pp |
| Q1 2024 | 2024-03-31 | 10.98% | −1.15 pp |
| Q4 2023 | 2023-12-31 | −14.19% | −24.51 pp |
| Q3 2023 | 2023-09-30 | 11.27% | +2.73 pp |
| Q2 2023 | 2023-06-30 | 11.54% | −2.08 pp |
| Q1 2023 | 2023-03-31 | 12.14% | +2.68 pp |
| Q4 2022 | 2022-12-31 | 10.32% | +1.86 pp |
| Q3 2022 | 2022-09-30 | 8.54% | −2.62 pp |
| Q2 2022 | 2022-06-30 | 13.62% | +1.59 pp |
| Q1 2022 | 2022-03-31 | 9.46% | −3.84 pp |
| Q4 2021 | 2021-12-31 | 8.46% | −2.33 pp |
| Q3 2021 | 2021-10-03 | 11.16% | −1.93 pp |
| Q2 2021 | 2021-07-04 | 12.03% | +3.30 pp |
| Q1 2021 | 2021-04-04 | 13.30% | +0.64 pp |
| Q4 2020 | 2020-12-31 | 10.79% | +4.44 pp |
| Q3 2020 | 2020-09-27 | 13.09% | +0.97 pp |
| Q2 2020 | 2020-06-28 | 8.72% | −4.91 pp |
| Q1 2020 | 2020-03-29 | 12.65% | −0.66 pp |
| Q4 2019 | 2019-12-31 | 6.35% | −5.59 pp |
| Q3 2019 | 2019-09-29 | 12.12% | −1.39 pp |
| Q2 2019 | 2019-06-30 | 13.63% | +1.86 pp |
| Q1 2019 | 2019-03-31 | 13.31% | +3.79 pp |
| Q4 2018 | 2018-12-31 | 11.93% | +1.23 pp |
| Q3 2018 | 2018-09-30 | 13.51% | +1.74 pp |
| Q2 2018 | 2018-07-01 | 11.77% | +0.23 pp |
| Q1 2018 | 2018-04-01 | 9.52% | −2.25 pp |
| Q4 2017 | 2017-12-31 | 10.70% | +0.51 pp |
| Q3 2017 | 2017-10-01 | 11.77% | +2.60 pp |
| Q2 2017 | 2017-07-02 | 11.54% | −0.98 pp |
| Q1 2017 | 2017-04-02 | 11.77% | +0.81 pp |
| Q4 2016 | 2016-12-31 | 10.19% | +5.39 pp |
| Q3 2016 | 2016-10-02 | 9.17% | −2.89 pp |
| Q2 2016 | 2016-07-03 | 12.52% | −1.89 pp |
| Q1 2016 | 2016-04-03 | 10.95% | −0.68 pp |
| Q4 2015 | 2015-12-31 | 4.80% | −6.61 pp |
| Q3 2015 | 2015-09-27 | 12.06% | −1.42 pp |
| Q2 2015 | 2015-06-28 | 14.42% | +1.76 pp |
| Q1 2015 | 2015-03-29 | 11.64% | −0.01 pp |
| Q4 2014 | 2014-12-31 | 11.41% | −0.64 pp |
| Q3 2014 | 2014-09-28 | 13.48% | +1.19 pp |
| Q2 2014 | 2014-06-29 | 12.66% | −0.82 pp |
| Q1 2014 | 2014-03-30 | 11.64% | +1.09 pp |
| Q4 2013 | 2013-12-31 | 12.05% | +1.22 pp |
| Q3 2013 | 2013-09-29 | 12.28% | +0.31 pp |
| Q2 2013 | 2013-06-30 | 13.48% | −1.07 pp |
| Q1 2013 | 2013-03-31 | 10.56% | −3.93 pp |
| Q4 2012 | 2012-12-31 | 10.83% | −4.31 pp |
| Q3 2012 | 2012-09-30 | 11.97% | −1.84 pp |
| Q2 2012 | 2012-07-01 | 14.56% | −1.99 pp |
| Q1 2012 | 2012-04-01 | 14.49% | +0.79 pp |
| Q4 2011 | 2011-12-31 | 15.14% | +2.45 pp |
| Q3 2011 | 2011-09-25 | 13.81% | +1.02 pp |
| Q2 2011 | 2011-06-26 | 16.55% | +4.20 pp |
| Q1 2011 | 2011-03-27 | 13.70% | +3.78 pp |
| Q4 2010 | 2010-12-31 | 12.68% | +1.36 pp |
| Q3 2010 | 2010-09-26 | 12.79% | +6.98 pp |
| Q2 2010 | 2010-06-27 | 12.34% | +7.37 pp |
| Q1 2010 | 2010-03-28 | 9.93% | +8.74 pp |
| Q4 2009 | 2009-12-31 | 11.32% | +0.95 pp |
| Q3 2009 | 2009-09-27 | 5.81% | −6.23 pp |
| Q2 2009 | 2009-06-28 | 4.98% | — |
| Q1 2009 | 2009-03-29 | 1.19% | — |
| Q3 2008 | 2008-09-28 | 10.37% | — |
| Q2 2008 | 2008-06-29 | 12.04% | — |
Cummins operating margin trends
Over the last five reported fiscal years, Cummins's operating margin increased from 11.45% to 11.95%, a change of +0.50 percentage points. The latest reported quarter, Q2 2026, shows 13.52%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Cummins filings at SEC.gov ↗