Cummins Inc. (CMI)财务
NYSE · Industrials · Industrial - Machinery · 员工67,400人 · CEO Jennifer W. Rumsey
- 股价
- $500.09 -3.46%
- 市值
- $688亿
- 企业价值
- $740亿
- 最近财报
- Q2 '26 2026-08-04提交
- 下次财报
- 2026-11-05 EPS预期 $8.21
营收(TTM)$347亿+2.9% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)11.1%-1.2 百分点 对比去年同期营业利润 $38.6亿
净利润(TTM)$27.2亿-7.7% 对比去年同期税后,含营业外收益
自由现金流(TTM)$33.7亿+103.8% 对比去年同期资本支出 $12.8亿
稀释EPS(TTM)$19.56-8.0% 对比去年同期最近4个季度之和
净现金-$43.6亿+22.2% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $688亿 EV $740亿
- 营收
- $347亿 过去12个月
- 营收增速
- +12% FY2026年一致预期
- 净利润率
- 7.8% 净利润 / 营收,TTM
- P/E
- 25.4× 预期 17.0×(FY2026)
- P/S
- 2.0× 股价 / 营收,TTM
- EV / EBITDA
- 14.9× TTM
- 自由现金流
- $33.7亿 过去12个月
- 净利润
- $27.2亿 过去12个月
- 营收预期
- $377亿 FY2026年一致预期
- 盈利
- 2026-11-05 营收预期 $98.7亿
- 股息
- $8.20 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-04):营收超预期1.4%,EPS 低于预期6.7%营收$94.6亿,预期$93.3亿(+1.4%);EPS $6.73,预期$7.21(-6.7%)。
- 营收增长加速:同比9.4%Q2 '26营收$94.6亿,此前四个季度的平均值为0.1%。
- 营业利润率11.1%(TTM),较去年同期-1.2 百分点营收增长2.9%,营业利润增长-6.7%。
- 资本支出占营收的3.7%(去年为3.5%)最近4个季度投入$12.8亿(同比+7.4%)。自由现金流$33.7亿,相当于净利润的124.0%。
- 股东回报$15.7亿 = 自由现金流的46.7%回购$4.68亿(去年为$0),股息$11.1亿,股权激励$0(TTM)。
- 稀释股数一年内增加0.1%Q2 '26稀释股数1.39亿,一年前为1.38亿。
- 净债务 $43.6亿现金 + 短期投资 $39.2亿,含租赁债务 $82.9亿;一年前净债务 $56.1亿。
上一季度:Q2 '26
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $94.6亿 | $86.4亿 | +9.4% |
| 毛利率 | 26.1% | 26.4% | -0.3 百分点 |
| 营业利润 | $12.8亿 | $12.3亿 | +4.3% |
| 营业利润率 | 13.5% | 14.2% | -0.7 百分点 |
| 净利润 | $9.32亿 | $8.9亿 | +4.7% |
| 稀释EPS | $6.73 | $6.42 | +4.8% |
| 经营现金流 | $15亿 | $7.85亿 | +91.0% |
| 资本支出 | $2.49亿 | $2.31亿 | +7.8% |
| 自由现金流 | $12.5亿 | $5.54亿 | +125.6% |
| R&D | $3.85亿 | $3.57亿 | +7.8% |
| 股权激励费用 | $0 | $0 | – |
实际 vs 一致预期
2026-08-04| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $94.6亿 | $93.3亿 | +1.4% |
| EPS(一致预期口径) | $6.73 | $7.21 | -6.7% |
来自2026-08-04发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Components | $28.9亿 | +6.9% | 30.6% | $102亿 | -5.1% | |
| Distribution | $33.3亿 | +9.4% | 35.2% | $129亿 | +7.8% | |
| Engine | $30.8亿 | +6.4% | 32.6% | $110亿 | -3.0% | |
| Power Systems | $22.6亿 | +19.4% | 23.8% | $81.4亿 | +16.8% | |
| Intersegment Eliminations | -$22.4亿 | – | -23.7% | – | – | |
| Total Segment | – | – | – | – | – | |
| Accelera | $1.45亿 | +38.1% | 1.5% | $4.98亿 | +19.1% |
按地区划分的营收
占总额比例| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $53.1亿 | +9.0% | 66.8% | $192亿 | +0.1% | |
| Non-US | $26.3亿 | +3.7% | 33.2% | $99.8亿 | +2.4% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $46.5亿
- 资本支出
- -$12.8亿
- 股票回购
- -$4.68亿
- 股息
- -$11.1亿
- 收购
- -$1.16亿
- 债务净发行
- -$5.05亿
- 股权激励费用
- $0
- 自由现金流
- $33.7亿
- 股东回报 / FCF
- 46.7%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 25.4× | 22.8× | 12.2× – 46.2× |
| EV / EBITDA | 14.9× | 11.1× | 8.5× – 14.0× |
| EV / 营收 | 2.1× | 1.6× | 1.1× – 2.2× |
| 股价 / FCF | 20.4× | 53.7× | 12.3× – 172.7× |
| 股价 / 净资产 | 5.4× | 4.4× | 3.7× – 5.7× |
| FCF收益率 | 4.9% | 4.0% | 0.6% – 8.1% |
| 投入资本回报率 | 10.9% | 10.5% | 4.3% – 13.7% |
| 净资产收益率 | 21.9% | 23.8% | 8.3% – 38.4% |
分析师
一致目标价 $740.00 (+48.0%)
区间 $608.00 – $845.00 · 评级 Buy
强烈买入0
买入27
持有23
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $377亿 | +11.8% | $29.43 | +43.6% | 17.0× | 10 |
| FY2027 | $413亿 | +9.7% | $34.58 | +17.5% | 14.5× | 11 |
| FY2028 | $449亿 | +8.7% | $40.29 | +16.5% | 12.4× | 10 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Cummins Inc.在近期10-Q / 10-K文件中标记的全部360项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $46.5亿 | $41.5亿 | +12.1% | $38亿2025-12-31 | $39.5亿 | -3.8% |
| Accounts Receivable, after Allowance for Credit Loss | $65.9亿 | $58.7亿 | +12.1% | $58.2亿2025-12-31 | $51.8亿 | +12.3% |
| Accounts Receivable, Allowance for Credit Loss | $6100万2025-12-31 | $6600万 | -7.6% | $6100万2025-12-31 | $6600万 | -7.6% |
| Accrual for Taxes Other than Income Taxes | $2.81亿 | $2.62亿 | +7.3% | $3.18亿2025-12-31 | $2.49亿 | +27.7% |
| Accrued Income Taxes | $1.77亿 | $2.61亿 | -32.2% | $1.56亿2025-12-31 | $2.44亿 | -36.1% |
| Accrued Liabilities, Current | $20亿 | $19.3亿 | +3.8% | $19.3亿2025-12-31 | $19亿 | +1.5% |
| Accrued Marketing Costs, Current | $3.7亿 | $3.64亿 | +1.6% | $3.46亿2025-12-31 | $3.35亿 | +3.3% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $62.2亿 | $58亿 | +7.3% | $59.6亿2025-12-31 | $54.4亿 | +9.6% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$23.4亿 | -$21.7亿 | -8.0% | -$22.8亿2025-12-31 | -$24.5亿 | +6.8% |
| Amortization of Debt Discount (Premium) | $200万2026-03-31 | $300万 | -33.3% | $1200万2025-12-31 | $1200万 | 0.0% |
| Amortization of Intangible Assets | – | – | – | $3.23亿2025-12-31 | $3.24亿 | -0.3% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 342 | 1.13万 | -97.0% | 3,8252025-12-31 | 1,467 | +160.7% |
| APIC, Share-based Payment Arrangement, Recognition and Exercise | $400万 | $200万 | +100.0% | $6900万2025-12-31 | $1.33亿 | -48.1% |
| Asset Impairment Charges | $2.4亿2025-09-30 | – | – | – | – | – |
| Assets | $356亿 | $343亿 | +4.0% | $340亿2025-12-31 | $315亿 | +7.8% |
| Assets for Plan Benefits, Defined Benefit Plan | $10.1亿 | $11.6亿 | -13.0% | $10.3亿2025-12-31 | $11.9亿 | -13.1% |
| Assets, Current | $184亿 | $169亿 | +8.9% | $169亿2025-12-31 | $148亿 | +14.7% |
| Cash and Cash Equivalents, at Carrying Value | $31.8亿 | $23.2亿 | +37.1% | $21亿2022-12-31 | $25.9亿 | -18.9% |
| Cash Divested from Deconsolidation | $02025-12-31 | $0 | – | $02025-12-31 | $1.74亿 | -100.0% |
| Cash Surrender Value of Life Insurance | $4.46亿 | $4.38亿 | +1.8% | $4.54亿2025-12-31 | $4.23亿 | +7.3% |
| Cash, Cash Equivalents, and Short-term Investments | $39.2亿 | $30.7亿 | +27.7% | $36.1亿2025-12-31 | $22.6亿 | +59.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $31.8亿 | $23.2亿 | +37.1% | $28.5亿2025-12-31 | $16.7亿 | +70.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $5.65亿 | $7.87亿 | -28.2% | $11.7亿2025-12-31 | -$5.08亿 | +331.1% |
| Commercial Paper | $3.48亿 | $3.53亿 | -1.4% | $3.53亿2025-12-31 | $12.6亿 | -72.0% |
| Common Stock, Dividends, Per Share, Cash Paid | $2.002025-12-31 | $1.82 | +9.9% | $7.642025-12-31 | $7.00 | +9.1% |
| Common Stock, Dividends, Per Share, Declared | $2.00 | $1.82 | +9.9% | – | – | – |
| Common Stock, Par or Stated Value Per Share | $2.50 | $2.50 | 0.0% | $2.50 | $2.50 | 0.0% |
| Common Stock, Shares Authorized | 5亿 | 5亿 | 0.0% | 5亿2025-12-31 | 5亿 | 0.0% |
| Common Stock, Shares, Issued | 2.23亿 | 2.23亿 | 0.0% | 2.23亿2025-12-31 | 2.23亿 | 0.0% |
| Common Stock, Value, Outstanding | $26.3亿 | $26.2亿 | +0.1% | $26.7亿2025-12-31 | $26.4亿 | +1.4% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $3800万 | $4000万 | -5.0% | $1.01亿2025-12-31 | $1.06亿 | -4.7% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $9.69亿 | $10.9亿 | -11.0% | $30.1亿2025-12-31 | $37.1亿 | -18.8% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $10.1亿 | $11.3亿 | -10.8% | $31.1亿2025-12-31 | $38.1亿 | -18.4% |
| Contract with Customer, Asset, before Allowance for Credit Loss | $4.39亿2025-12-31 | $4.03亿 | +8.9% | $4.39亿2025-12-31 | $4.03亿 | +8.9% |
| Contract with Customer, Liability | $26.6亿 | $26.8亿 | -0.8% | $26.6亿2025-12-31 | $24.1亿 | +10.3% |
| Contract with Customer, Liability, Current | $15.9亿 | $16.2亿 | -1.7% | $16.1亿2025-12-31 | $13.5亿 | +19.2% |
| Contract with Customer, Liability, Noncurrent | $10.7亿 | $10.6亿 | +0.7% | $10.5亿2025-12-31 | $10.7亿 | -1.0% |
| Contract with Customer, Liability, Revenue Recognized | $3.05亿 | $2.42亿 | +26.0% | $11亿2025-12-31 | $8.5亿 | +29.4% |
| Contract with Customer, Receivable, before Allowance for Credit Loss | $3.28亿 | $4.09亿 | -19.8% | – | – | – |
| Cost of Revenue | $69.9亿 | $63.6亿 | +9.9% | $252亿2025-12-31 | $257亿 | -2.0% |
| Current Federal Tax Expense (Benefit) | – | – | – | $1.3亿2025-12-31 | – | – |
| Current Federal, State and Local, Tax Expense (Benefit) | – | – | – | $4.33亿2024-12-31 | $6.11亿 | -29.1% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $7.72亿2025-12-31 | $6.11亿 | +26.4% |
| Current Income Tax Expense (Benefit) | – | – | – | $9.2亿2025-12-31 | $10.4亿 | -11.9% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $1800万2025-12-31 | – | – |
| Debt and Lease Obligation | $68.9亿 | $74.2亿 | -7.2% | $68.9亿2025-12-31 | $54.4亿 | +26.5% |
| Debt Instrument, Unamortized Discount | $8700万 | $9500万 | -8.4% | $9100万2025-12-31 | $8900万 | +2.2% |
| Debt Securities, Available-for-sale | $2600万 | $4100万 | -36.6% | $3400万2025-12-31 | $4100万 | -17.1% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $0 | $0 | – | $02025-12-31 | $0 | – |
| Debt Securities, Available-for-sale, Amortized Cost | $2600万 | $4100万 | -36.6% | $3400万2025-12-31 | $4100万 | -17.1% |
| Debt Securities, Trading, and Equity Securities, FV-NI, Cost | $7.18亿 | $7.47亿 | -3.9% | $7.5亿2025-12-31 | $5.91亿 | +26.9% |
| Deferred Compensation Liability, Classified, Noncurrent | $2.11亿 | $1.82亿 | +15.9% | $2.1亿2025-12-31 | $1.93亿 | +8.8% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $8600万2025-12-31 | – | – |
| Deferred Federal, State and Local, Tax Expense (Benefit) | – | – | – | -$2.41亿2024-12-31 | -$4.68亿 | +48.5% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$800万2025-12-31 | $3200万 | -125.0% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $8600万2025-12-31 | -$2.09亿 | +141.1% |
| Deferred Income Taxes and Other Tax Liabilities, Noncurrent | $3.81亿 | $4.05亿 | -5.9% | $3.88亿2025-12-31 | $3.89亿 | -0.3% |
| Deferred Income Taxes and Tax Credits | $2700万 | -$1.13亿 | +123.9% | $8600万2025-12-31 | -$2.09亿 | +141.1% |
| Deferred Revenue | $12亿2025-12-31 | $11亿 | +8.8% | $12亿2025-12-31 | $11亿 | +8.8% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $800万2025-12-31 | – | – |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-01