PerpEquities

Equity · Industrials

Cummins Inc. (CMI) perpetual futures

CMI perpetual futures on 2 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade CMIUSDT.

Cummins Inc. designs, manufactures, distributes and services diesel and natural gas engines, electric and hybrid powertrains, components and power generation systems for customers worldwide.

$477.50-5.8%NYSE closed
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venue perp mark · MEXC (CMI/USDT)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

2/2 live markets
Venues
2
Live markets
2/2
24h volume
$120.2K
Open interest
$114K
Best liquidity
$47.9
Gate.io
Tightest spread
+64.7 bps
Gate.io
Highest volume
$100.4K
MEXC
Settlement mix
USDT · 2/2
Perp/spot vol.
0.00x
Spot volume $1.4B
OI / float
0.00%
Float $65.5B
Spot performance
1D-5.76%
5D-6.60%
1M-10.69%
6M-28.15%
YTD-7.56%
1Y+10.05%

Venue matrix

2 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
MEXCTradeCMI/USDTTrading$467.55-21.9% APR
-0.020% every 8h		+207.0 bps$0$100.4K$36.3KUSDT20x
Gate.ioTradeCMI/USDTTrading$477.500.0% APR
0.000% every 8h		+64.7 bps$47.9$19.7K$77.6KUSDT20x

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

No sufficient depth · 0 of 2 venues absorb $10k

Too thin: Gate.io

No fresh book data: MEXC

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

CMI
Gate.io · CMI/USDT$47.9

Tightest spread

CMI
Gate.io · CMI/USDT+64.7 bps

Highest volume

CMI
MEXC · CMI/USDT$100.4K

Funding history

Stored venue snapshots by market

Company financials

Financials at a glance

Last report Q2 '26 · filed 2026-08-04 · next report 2026-11-05 · Updated 39m ago
All financials →

Valuation & key figures

Market cap
$65B
Updated 39m ago
Revenue
$34.7B
Trailing 12 months
Revenue growth
+12%
Next fiscal year
Profit margin
+7.8%
P/E
24.0
Peer P/E 19.2
P/S
1.9
Peer P/E
19.2
Similar listed perps
Free cash flow
$3.4B
Trailing 12 months
Net income
$2.7B
Trailing 12 months
Revenue estimate
$37.7B
Next fiscal year
Earnings
2026-11-05
Revenue est. $9.9B · Updated 39m ago
Dividend
$2.2
2026-11-20
Revenue (TTM)$34.7B+2.9% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)11.1%-1.2 pp vs a year agoOperating income $3.86B
Net income (TTM)$2.72B-7.7% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$3.37B+103.8% vs a year agoCapex $1.28B
Diluted EPS (TTM)$19.56-8.0% vs a year agoSum of the last 4 quarters
Net cash-$4.36B+22.2% vs a year agoCash + short-term investments - debt
  • Last report (2026-08-04): revenue beat by 1.4%, EPS missed by 6.7%Revenue $9.46B vs $9.33B expected (+1.4%); EPS $6.73 vs $7.21 (-6.7%).
  • Revenue growth accelerating: 9.4% year on yearQ2 '26 revenue $9.46B, against an average of 0.1% over the four quarters before.
  • Operating margin 11.1% (TTM), -1.2 pp on a year agoOperating income grew -6.7% while revenue grew 2.9%.
  • Capex 3.7% of revenue (a year ago 3.5%)$1.28B invested in the last 4 quarters (+7.4% on a year earlier). Free cash flow $3.37B = 124.0% of net income.

Revenue, operating income and growth

quarterly

Revenue by business line

latest quarter
LineRevenuey/yShare
Components$2.89B+6.9%30.6%
Distribution$3.33B+9.4%35.2%
Engine$3.08B+6.4%32.6%
Power Systems$2.26B+19.4%23.8%
Intersegment Eliminations-$2.24B–-23.7%
Total Segment–––
In the full financialsIncome statement, balance sheet and cash flow (12 quarters / 10 years) · margins and cost structure · capital allocation and buybacks · valuation against the 5-year range · analyst estimates · all 360 lines Cummins Inc. reported to the SEC

Next catalyst

Catalysts

Earnings
2026-11-05
Revenue est. $9.9B · Updated 39m ago
Dividend
$2.2
2026-11-20

No unusual perp activity right now.

Reference data

Market context

Reference market

Closed
New York Stock Exchange
Regular hours
09:30 AM – 04:00 PM
Next holiday
Nov 26, 2026 · Thanksgiving Day

After-hours reference

Bid465
Ask501
Volume2,956,937

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 202629.43$37.7B+12%9
FY 202734.58$41.3B+23%11
FY 202840.29$44.9B+33%10
Q1 20277.70$9.3B+11%2
Q1 20277.58$9.2B+10%3
Q2 20278.55$10.3B+9%2

Company events

6
2026-11-20Dividend$2.2-
2026-11-05Earnings · Before market openActual - / Estimate 8.21-
2026-08-21Dividend$2.2-
2026-08-04EarningsActual 6.73 / Estimate 7.21Miss
2026-05-22Dividend$2-
2026-05-05EarningsActual 6.15 / Estimate 5.63Beat

Peer comparison

Similar listed perps
NameMarket capP/SP/EProfit marginVenues
MELCO$61.8B1.518.9+8.2%1URI$68.4B3.924.2+16.3%2LGENERGY$61.1B2.7-33.5-8.2%1HON$70.1B2.310.0+23.0%3FAST$58.5B6.441.1+15.6%1FDX$73.4B0.819.4+4.1%1DAL$52.7B0.715.9+4.6%2LHX$51.7B2.225.8+8.8%1

Company data

Company intelligence

Updated: Nov 2, 2026, 04:04 PM UTC

Company profile

Sector
Industrials
Industry
Industrial - Machinery
Chief executive
Jennifer W. Rumsey
Employees
67,400
IPO date
Oct 3, 1947
Country
US
Exchange
New York Stock Exchange
Website
Altman Z-scorei4.42
Piotroski scorei6/9
Overall ratingiB+
Owner earningsi$1.42B$10.21 per share
ESG risk ratingiB+Industry rank: 6 out of 101

Rating factors

Return on equityi
5
Return on assetsi
5
Debt to equityi
2
Price to earningsi
2
Price to booki
1

Company press releases

Cummins Inc. Declares Quarterly Common Stock DividendBusiness WireEquipmentShare and Cummins Announce Landmark Collaboration to Deploy 1 Gigawatt of Mobile PowerBusiness WireCummins selected to supply battery energy storage systems for large U.S. data center projectBusiness WireCummins Reports Strong Second Quarter 2026 Results; Raises Full-Year OutlookBusiness Wire

Congressional disclosures

Senate

House

Market cap history
$69.06B-22.9%Aug 26 – Oct 26
$69.06B$79.33B$89.61BHigh: $89.61B · 2026-08-03Latest: $69.06B · 2026-10-30Aug 26Sep 26Oct 26
Latest: $69.06B · 2026-10-30High: $89.61B · 2026-08-03Low: $69.06B · 2026-10-30
Largest fund holders
FundWeightShares held
VTI0.1%4.4M
VOO0.11%3.6M
VO0.7%2.9M
VCPA.S0.05%2.1M
FXAIX0.11%1.8M
IVV0.11%1.8M
XSP.TO0.11%1.8M
SPY0.11%1.7M
VTV0.27%1.3M
VOE1.21%859.5K
XLI1.32%807.1K
VIG0.31%778.9K

Analyst track record

How the analysts covering CMI have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings108261
Analysts1723
Buy / hold / sell69 / 39 / 0119 / 131 / 11
Upgrades / downgrades / initiations5 / 1 / 312 / 7 / 7
Price targets hit / missed6 / 98 (6%)145 / 98 (60%)
Avg. return after a rating (TipRanks)-21.8%+22.3%
Best / worst call+20.5% / -42.5%+130.2% / -42.5%

After buy calls on this stock: median 21-day move +0.6% vs S&P 500 -1.0% (n = 116)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Kyle MengesCiti100% hit rate on this stock · 16 targets measuredBuytarget $630Oct 12, 2026
  2. Angel CastilloMorgan Stanley100% hit rate on this stock · 12 targets measuredBuytarget $761Aug 5, 2026

Latest ratings

DateAnalystCallTarget
Nov 4, 2026Chad DillardBernsteinBuyMaintained$557article ↗
Nov 4, 2026Chad DillardBernsteinBuyMaintained$557
Oct 26, 2026Chad DillardBernsteinHoldMaintained$557article ↗
Oct 26, 2026Chad DillardBernsteinHoldMaintained$557
Oct 26, 2026Jerry RevichWells FargoBuyReiterated$608article ↗
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$500$550$600$650$700$750$800Dec 25 · Buy 10 · Hold 7 · Sell 0Dec 25Jan 26 · Buy 9 · Hold 8 · Sell 0Feb 26 · Buy 8 · Hold 7 · Sell 0Feb 26Mar 26 · Buy 7 · Hold 7 · Sell 0Apr 26 · Buy 7 · Hold 7 · Sell 0Apr 26May 26 · Buy 8 · Hold 6 · Sell 0Jun 26 · Buy 9 · Hold 5 · Sell 0Jun 26Jul 26 · Buy 9 · Hold 4 · Sell 0Aug 26 · Buy 11 · Hold 4 · Sell 0Aug 26Sep 26 · Buy 11 · Hold 4 · Sell 0Oct 26 · Buy 11 · Hold 4 · Sell 0Oct 26Nov 26 · Buy 11 · Hold 4 · Sell 0Dec 25 · avg. target $519Jan 26 · avg. target $548Feb 26 · avg. target $607Mar 26 · avg. target $617Apr 26 · avg. target $632May 26 · avg. target $736Jun 26 · avg. target $772Jul 26 · avg. target $781Aug 26 · avg. target $770Sep 26 · avg. target $758Oct 26 · avg. target $707Nov 26 · avg. target $707Dec 25 · month-end close $510Jan 26 · month-end close $579Feb 26 · month-end close $584Mar 26 · month-end close $538Apr 26 · month-end close $671May 26 · month-end close $647Jun 26 · month-end close $713Jul 26 · month-end close $634Aug 26 · month-end close $564Sep 26 · month-end close $517Oct 26 · month-end close $500Nov 26 · month-end close $500

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data · computed Nov 4, 2026 · 108 ratings

Frequently asked questions

Where can I trade CMI perpetual futures?

Cummins Inc. (CMI) perpetual futures trade on 2 crypto venues, including MEXC, Gate.io. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade CMI around the clock?

Yes. Unlike the underlying stock, CMI perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on CMI perpetuals?

Right now the CMI perp funding rate is -11.0% annualized (venue median), ranging from -21.9% to 0.0% across 2 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the CMI perp price compare to the Cummins Inc. stock?

The venue-median CMI perp mark is $472.5 versus a reference stock price of $477.5, a basis of -1.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a CMI perpetual future?

A CMI perpetual is a derivative that tracks the price of Cummins Inc. with no expiry date. It lets you take long or short exposure to Cummins Inc. on crypto venues, around the clock.

What is CMIUSDT perpetual?

CMIUSDT is the symbol most crypto exchanges use for the Cummins Inc. perpetual settled in USDT (Tether). It tracks the CMI share price through an index, trades 24/7 with leverage and never expires.

Other Industrials perps

Also listed on MEXC

Also listed on Gate.io

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