Stock Analysis on Net
Stock Analysis on Net

Cummins Inc. (NYSE:CMI)

This company has been moved to the archive! The financial data has not been updated since May 2, 2024.

Debt to Equity 
since 2005

Microsoft Excel

Calculation

Cummins Inc., debt to equity, long-term trends, calculation

Microsoft Excel
Debt to equity = Total debt1 ÷ Total Cummins Inc. shareholders’ equity1
Dec 31, 2023 0.76 = 6,696 ÷ 8,850
Dec 31, 2022 0.88 = 7,855 ÷ 8,975
Dec 31, 2021 0.49 = 4,159 ÷ 8,474
Dec 31, 2020 0.52 = 4,164 ÷ 8,062
Dec 31, 2019 0.32 = 2,367 ÷ 7,507
Dec 31, 2018 0.34 = 2,476 ÷ 7,348
Dec 31, 2017 0.28 = 2,006 ÷ 7,259
Dec 31, 2016 0.27 = 1,856 ÷ 6,875
Dec 31, 2015 0.22 = 1,639 ÷ 7,406
Dec 31, 2014 0.22 = 1,698 ÷ 7,749
Dec 31, 2013 0.23 = 1,740 ÷ 7,510
Dec 31, 2012 0.12 = 775 ÷ 6,603
Dec 31, 2011 0.14 = 783 ÷ 5,492
Dec 31, 2010 0.18 = 843 ÷ 4,670
Dec 31, 2009 0.19 = 704 ÷ 3,773
Dec 31, 2008 0.22 = 698 ÷ 3,230
Dec 31, 2007 0.20 = 674 ÷ 3,409
Dec 31, 2006 0.29 = 811 ÷ 2,802
Dec 31, 2005 0.73 = 1,367 ÷ 1,864

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in millions

Comparison to Competitors

Cummins Inc., debt to equity, long-term trends, comparison to competitors

Microsoft Excel
Cummins Inc. Boeing Co. Caterpillar Inc. Eaton Corp. plc GE Aerospace Honeywell International Inc. Lockheed Martin Corp. RTX Corp.
Dec 31, 2023 0.76 — 1.94 0.49 0.77 1.29 2.55 0.73
Dec 31, 2022 0.88 — 2.33 0.51 0.89 1.17 1.68 0.44
Dec 31, 2021 0.49 — 2.29 0.52 0.87 1.06 1.07 0.43
Dec 31, 2020 0.52 — 2.42 0.54 2.11 1.28 2.02 0.44
Dec 31, 2019 0.32 — 2.58 0.52 3.21 0.87 4.05 1.04
Dec 31, 2018 0.34 40.85 2.60 0.47 3.55 0.89 9.04 1.18
Dec 31, 2017 0.28 31.32 2.55 0.45 2.09 1.04 — 0.93
Dec 31, 2016 0.27 12.18 2.80 0.56 1.80 0.81 9.45 0.87
Dec 31, 2015 0.22 1.57 2.57 0.56 2.02 0.66 4.62 0.75
Dec 31, 2014 0.22 1.05 2.35 0.57 2.85 0.49 1.81 0.63
Dec 31, 2013 0.23 0.65 1.81 0.57 2.93 0.51 1.25 0.64
Dec 31, 2012 0.12 1.77 2.29 0.72 3.37 0.58 157.90 0.90
Dec 31, 2011 0.14 3.52 2.69 0.51 3.89 0.70 6.45 0.47
Dec 31, 2010 0.18 4.49 2.63 0.47 4.02 0.62 1.35 0.48
Dec 31, 2009 0.19 6.07 3.62 0.51 4.35 0.86 1.22 0.49
Dec 31, 2008 0.22 — 5.84 0.68 5.00 1.17 1.24 0.72
Dec 31, 2007 0.20 0.91 3.20 0.66 4.45 0.83 0.44 0.43
Dec 31, 2006 0.29 2.01 3.98 0.63 3.85 0.52 0.64 0.46
Dec 31, 2005 0.73 0.97 3.05 0.65 3.39 0.45 0.61 0.48

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Sector (Capital Goods)

Cummins Inc., debt to equity, long-term trends, comparison to sector (capital goods)

Microsoft Excel
Cummins Inc. Capital Goods
Dec 31, 2023 0.76 1.54
Dec 31, 2022 0.88 1.33
Dec 31, 2021 0.49 1.26
Dec 31, 2020 0.52 1.75
Dec 31, 2019 0.32 2.08
Dec 31, 2018 0.34 2.03
Dec 31, 2017 0.28 1.74
Dec 31, 2016 0.27 1.60
Dec 31, 2015 0.22 1.64
Dec 31, 2014 0.22 2.06
Dec 31, 2013 0.23 2.00
Dec 31, 2012 0.12 2.56
Dec 31, 2011 0.14 3.04
Dec 31, 2010 0.18 3.10
Dec 31, 2009 0.19 3.46
Dec 31, 2008 0.22 4.19
Dec 31, 2007 0.20 3.21
Dec 31, 2006 0.29 3.02
Dec 31, 2005 0.73 2.53

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Industry (Industrials)

Cummins Inc., debt to equity, long-term trends, comparison to industry (industrials)

Microsoft Excel
Cummins Inc. Industrials
Dec 31, 2023 0.76 1.43
Dec 31, 2022 0.88 1.32
Dec 31, 2021 0.49 1.25
Dec 31, 2020 0.52 1.73
Dec 31, 2019 0.32 1.86
Dec 31, 2018 0.34 1.87
Dec 31, 2017 0.28 1.65
Dec 31, 2016 0.27 1.55
Dec 31, 2015 0.22 1.52
Dec 31, 2014 0.22 1.86
Dec 31, 2013 0.23 1.77
Dec 31, 2012 0.12 2.24
Dec 31, 2011 0.14 2.56
Dec 31, 2010 0.18 2.63
Dec 31, 2009 0.19 2.92
Dec 31, 2008 0.22 3.45
Dec 31, 2007 0.20 2.72
Dec 31, 2006 0.29 2.46
Dec 31, 2005 0.73 2.11

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).