Cummins (CMI) 10-K Summary — Year Ended Dec 31, 2024
Cummins Inc. filed its annual report for the period ended December 31, 2024. The company reported revenue and net income figures that reflect its performance as a global power solutions leader.
Key takeaway
Year ended Dec 31, 2024 · FY2025 10-K
Cummins Inc. filed its annual report for the period ended December 31, 2024. The company reported revenue and net income figures that reflect its performance as a global power solutions leader.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$34.1B
Revenue reported for the fiscal year.
Operating income
$3.8B
Income from operations reported for the year.
Net income
$4.1B
Net income reported for the year.
Operating cash flow
$1.5B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $24B | n/a |
| Dec 31, 2022 | $28.1B | +16.9% |
| Dec 31, 2023 | $34.1B | +21.3% |
| Dec 31, 2024 | $34.1B | +0.1% |
Business overview
Cummins is a global power solutions leader founded in 1919, operating through five segments: Engine, Components, Distribution, Power Systems, and Accelera. Its products include diesel, natural gas, electric and hybrid powertrains, along with related components and subsystems such as aftertreatment, turbochargers, fuel systems, and electrified power technologies. The company sells to OEMs, distributors, and dealers worldwide, supported by a service network of approximately 650 distributor locations and over 19,000 certified dealer locations in about 190 countries.
Financial performance
Revenue remained relatively stable compared to the prior period, while operating income and net income were reported at levels consistent with the company's scale. Operating cash flow was also disclosed, reflecting the company's cash generation during the period.
Material risks
The filing includes forward-looking statements that are subject to risks and uncertainties based on current expectations and industry projections. These statements involve management's beliefs and assumptions, and actual results may differ materially. The company also references unresolved staff comments and cybersecurity as areas of potential risk.
Liquidity and capital
The filing includes a section on liquidity and capital resources, but no specific details were provided in the supplied context beyond the heading. The company completed a tax-free split-off of its remaining ownership in Atmus Filtration Technologies during the period, which reduced its shares outstanding.
What to watch
Investors should monitor the company's ability to sustain revenue levels and cash flow in the next filing, given the stable but flat revenue trend.