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Cummins (CMI)
The export includes the complete available history of financial statements and ratios. Numbers are provided in full, without million or billion abbreviations, in their original reporting units.
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Cummins Balance Sheet 2025-2006 | CMI
Brief overview of Cummins 's financial position
The comparison uses five available annual reports from the 2021–2025 interval.
Assets increased from $23.7 billion to $34 billion, or +43.4%; CAGR of about 9.4% indicates steady balance sheet expansion.
Liabilities followed the scale of the balance sheet: +43.9% versus +43.4% for assets. Leverage did not change materially.
Shareholders' equity accounts for 36.3% of assets, previously 38.1%. Dependence on liabilities is moderate.
Net debt equals roughly 0.33x of equity. This is a moderate load and leaves room for maneuver.
The cash share moved from 10.9% to 8.4%. A higher figure generally provides more room in an adverse scenario.
Retained earnings reached $22.6 billion, changing +35.1% over the period. A positive accumulated result supports equity.
What the balance sheet shows
Cummins 's balance sheet is broadly resilient, though selected areas require monitoring. The balance between assets, equity and liabilities remains the key issue.
Annual Balance Sheet Cummins
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
4.08 B | 3.24 B | 2.76 B | 2.53 B | 1.12 B | -2.77 B | 578 M | 393 M | 339 M | 524 M | -72 M | -603 M | -959 M | -594 M | -798 M | -439 M | -399 M | 203 M | - | - |
Long Term Debt |
6.79 B | 4.78 B | 4.8 B | 4.5 B | 3.58 B | 500 M | 1.58 B | 1.6 B | 1.59 B | 1.57 B | 1.58 B | 1.59 B | 1.67 B | 698 M | 658 M | 636 M | 561 M | 629 M | - | - |
Long Term Debt Current |
138 M | 130 M | 138 M | 132 M | 128 M | 128 M | 131 M | 45 M | 63 M | 35 M | - | - | - | - | -97 M | -52 M | -30 M | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 5.01 B | 4.42 B | 4.23 B | 3.51 B | 3.58 B | 3.66 B | 3.49 B | 2.44 B | 2.18 B | - | - | - | - | - |
Total Current Liabilities |
9.61 B | 11.2 B | 12.9 B | 11.4 B | 7.08 B | 6.34 B | 6.26 B | 6.38 B | 5.68 B | 4.32 B | 3.8 B | 4.02 B | 3.37 B | 3.14 B | 3.66 B | 3.26 B | 2.43 B | 2.64 B | - | - |
Total Liabilities |
20.6 B | 20.2 B | 22.1 B | 20.1 B | 14.3 B | 13.6 B | 11.3 B | 10.8 B | 9.91 B | 7.84 B | 7.38 B | 7.68 B | 6.86 B | 5.57 B | 5.84 B | 5.41 B | 4.8 B | 5.04 B | - | - |
Deferred Revenue |
1.61 B | 1.35 B | 1.22 B | 1 B | 855 M | 691 M | 533 M | 498 M | 500 M | 468 M | 403 M | 401 M | 285 M | 215 M | 208 M | 182 M | 128 M | 122 M | - | - |
Retained Earnings |
22.6 B | 20.8 B | 17.9 B | 18 B | 16.7 B | 15.4 B | 14.4 B | 12.9 B | 11.5 B | 11 B | 10.3 B | 9.54 B | 8.41 B | 7.34 B | 6.04 B | 4.44 B | 3.58 B | 3.29 B | - | - |
Total Assets |
34 B | 31.5 B | 32 B | 30.3 B | 23.7 B | 22.6 B | 19.7 B | 19.1 B | 18.1 B | 15 B | 15.1 B | 15.8 B | 14.7 B | 12.5 B | 11.7 B | 10.4 B | 8.82 B | 8.52 B | - | - |
Cash and Cash Equivalents |
2.84 B | 1.67 B | 2.18 B | 2.1 B | 2.59 B | 3.4 B | 1.13 B | 1.3 B | 1.37 B | 1.12 B | 1.71 B | 2.3 B | 2.7 B | 1.37 B | 1.48 B | 1.02 B | 930 M | 426 M | 577 M | 840 M |
Book Value |
13.4 B | 11.3 B | 9.9 B | 10.2 B | 9.4 B | 8.99 B | 8.46 B | 8.26 B | 8.16 B | 7.17 B | 7.75 B | 8.09 B | 7.87 B | 6.97 B | 5.83 B | 5 B | 4.02 B | 3.48 B | - | - |
Total Shareholders Equity |
12.3 B | 10.3 B | 8.85 B | 8.98 B | 9.04 B | 8.71 B | 7.51 B | 7.35 B | 7.26 B | 6.88 B | 7.41 B | 7.75 B | 7.51 B | 6.6 B | 5.49 B | 4.67 B | 3.77 B | 3.23 B | 3.7 B | 3.06 B |
All numbers in USD currency
Quarterly Balance Sheet Cummins
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q3 | 2010-Q2 | 2010-Q1 | 2009-Q3 | 2009-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
6.74 B | 6.73 B | 6.82 B | 6.81 B | 4.8 B | 4.86 B | 5.43 B | 5.77 B | 4.95 B | 5.09 B | 4.41 B | 4.5 B | - | - | 3.5 B | 3.58 B | 3.6 B | 3.62 B | 3.62 B | 3.61 B | 3.61 B | 3.61 B | 3.61 B | 1.58 B | 1.58 B | 1.58 B | 1.58 B | 1.6 B | 1.6 B | 1.6 B | 1.6 B | 1.59 B | 1.59 B | 1.59 B | 1.59 B | 1.57 B | 1.57 B | 1.57 B | 1.57 B | 1.58 B | 1.58 B | 1.58 B | 1.58 B | 1.58 B | 1.52 B | 1.56 B | 1.58 B | 1.63 B | 1.68 B | 1.63 B | 1.63 B | 653 M | 653 M | 653 M | 653 M | 638 M | 638 M | 638 M | 638 M | 732 M | 669 M | 640 M | 621 M | 617 M |
Total Liabilities |
21.7 B | 21.1 B | 20.5 B | 21.4 B | 20.6 B | 20.7 B | 20.7 B | 21.7 B | 20.4 B | 20.4 B | 20.6 B | 20.1 B | - | - | 14.8 B | 14.3 B | 14.1 B | 13.8 B | 13.9 B | 13.6 B | 13.6 B | 13.6 B | 13.6 B | 11.3 B | 11.3 B | 11.3 B | 11.3 B | 10.8 B | 10.8 B | 10.8 B | 10.8 B | 9.91 B | 9.91 B | 9.91 B | 9.91 B | 7.84 B | 7.84 B | 7.84 B | 7.84 B | 7.38 B | 7.38 B | 7.38 B | 7.38 B | 7.67 B | 7.68 B | 7.68 B | 7.68 B | 6.86 B | 6.86 B | 6.86 B | 6.86 B | 5.57 B | 5.57 B | 5.57 B | 5.57 B | 5.84 B | 5.84 B | 5.84 B | 5.84 B | 5.38 B | 5.05 B | 4.72 B | 4.55 B | 4.53 B |
Deferred Revenue |
1.59 B | 1.59 B | 1.6 B | 1.62 B | 1.51 B | 1.22 B | 1.31 B | 1.24 B | 1.03 B | 1.02 B | 1.04 B | 1 B | - | - | 883 M | 855 M | 806 M | 805 M | 773 M | 691 M | 691 M | 691 M | 691 M | 533 M | 533 M | 505 M | 509 M | 498 M | 500 M | 479 M | 498 M | 500 M | 500 M | 500 M | 500 M | 468 M | 468 M | 468 M | 468 M | 403 M | 403 M | 403 M | 403 M | 401 M | 401 M | 401 M | 401 M | 285 M | 285 M | 285 M | 285 M | 215 M | 215 M | 215 M | 215 M | 208 M | 208 M | 208 M | 208 M | 166 M | 142 M | 144 M | - | - |
Retained Earnings |
23.6 B | 23 B | 22.3 B | 22 B | 21.4 B | 20.7 B | 20.1 B | 19.6 B | 19.5 B | 19.1 B | 18.6 B | 18 B | - | - | 17 B | 16.7 B | 16.6 B | 16.2 B | 15.8 B | 15.4 B | 15.4 B | 15.4 B | 15.4 B | 14.4 B | 14.4 B | 14.4 B | 14.4 B | 12.9 B | 12.9 B | 12.9 B | 12.9 B | 11.5 B | 11.5 B | 11.5 B | 11.5 B | 11 B | 11 B | 11 B | 11 B | 10.3 B | 10.3 B | 10.3 B | 10.3 B | 9.54 B | 9.54 B | 9.54 B | 9.54 B | 8.41 B | 8.41 B | 8.41 B | 8.41 B | 7.34 B | 7.34 B | 7.34 B | 7.34 B | 6.04 B | 6.04 B | 6.04 B | 6.04 B | 4.14 B | 3.9 B | 3.69 B | 3.34 B | 3.28 B |
Total Assets |
35.6 B | 34.4 B | 33.6 B | 34.3 B | 32.5 B | 32.1 B | 31.3 B | 31.8 B | 32.1 B | 31.7 B | 31.4 B | 30.3 B | - | - | 24.1 B | 23.7 B | 23.1 B | 22.6 B | 23 B | 22.6 B | 22.6 B | 22.6 B | 22.6 B | 19.7 B | 19.7 B | 19.7 B | 19.7 B | 19.1 B | 19.1 B | 19.1 B | 19.1 B | 18.1 B | 18.1 B | 18.1 B | 18.1 B | 15 B | 15 B | 15 B | 15 B | 15.1 B | 15.1 B | 15.1 B | 15.1 B | 15.8 B | 15.8 B | 15.8 B | 15.8 B | 14.7 B | 14.7 B | 14.7 B | 14.7 B | 12.5 B | 12.5 B | 12.5 B | 12.5 B | 11.7 B | 11.7 B | 11.7 B | 11.7 B | 9.87 B | 9.21 B | 8.77 B | 8.36 B | 8.12 B |
Cash and Cash Equivalents |
3.18 B | 2.61 B | 2.57 B | 2.32 B | 1.53 B | 1.73 B | 1.59 B | 2.54 B | 2.61 B | 1.8 B | 1.98 B | 2.1 B | 2.5 B | 2.46 B | 2.28 B | 2.59 B | 2.59 B | 2.48 B | 2.96 B | 3.4 B | 3.4 B | 3.4 B | 3.4 B | 1.13 B | 1.13 B | 1.13 B | 1.13 B | 1.3 B | 1.3 B | 1.3 B | 1.3 B | 1.37 B | 1.37 B | 1.37 B | 1.37 B | 1.12 B | 1.12 B | 1.12 B | 1.12 B | 1.71 B | 1.71 B | 1.71 B | 1.71 B | 2.3 B | 2.3 B | 2.3 B | 2.3 B | 2.7 B | 2.7 B | 2.7 B | 2.7 B | 1.37 B | 1.37 B | 1.37 B | 1.37 B | 1.48 B | 1.48 B | 1.48 B | 1.48 B | 937 M | 924 M | 885 M | 686 M | 534 M |
Book Value |
13.9 B | 13.4 B | 13.1 B | 12.9 B | 12 B | 11.3 B | 10.6 B | 10.1 B | 11.7 B | 11.4 B | 10.9 B | 10.2 B | - | - | 9.36 B | 9.4 B | 9 B | 8.79 B | 9.03 B | 8.99 B | 8.99 B | 8.99 B | 8.99 B | 8.46 B | 8.46 B | 8.46 B | 8.46 B | 8.26 B | 8.26 B | 8.26 B | 8.26 B | 8.16 B | 8.16 B | 8.16 B | 8.16 B | 7.17 B | 7.17 B | 7.17 B | 7.17 B | 7.75 B | 7.75 B | 7.75 B | 7.75 B | 8.09 B | 8.09 B | 8.09 B | 8.09 B | 7.87 B | 7.87 B | 7.87 B | 7.87 B | 6.97 B | 6.97 B | 6.97 B | 6.97 B | 5.83 B | 5.83 B | 5.83 B | 5.83 B | 4.49 B | 4.16 B | 4.05 B | 3.8 B | 3.6 B |
Total Shareholders Equity |
12.8 B | 12.4 B | 12.1 B | 11.8 B | 12 B | 11.3 B | 10.6 B | 10.1 B | 11.7 B | 11.4 B | 10.6 B | 8.98 B | 9.36 B | 9.43 B | 8.97 B | 8.47 B | 8.08 B | 7.87 B | 8.11 B | 8.06 B | 8.06 B | 8.06 B | 8.06 B | 7.51 B | 7.51 B | 7.51 B | 7.51 B | 7.35 B | 7.35 B | 7.35 B | 7.35 B | 7.26 B | 7.26 B | 7.26 B | 7.26 B | 6.88 B | 6.88 B | 6.88 B | 6.88 B | 7.41 B | 7.41 B | 7.41 B | 7.41 B | 7.75 B | 7.75 B | 7.75 B | 7.75 B | 7.51 B | 7.51 B | 7.51 B | 7.51 B | 6.6 B | 6.6 B | 6.6 B | 6.6 B | 5.49 B | 5.49 B | 5.49 B | 5.49 B | 4.2 B | 3.88 B | 3.79 B | 3.56 B | 3.37 B |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Cummins , providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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