Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
Cummins Inc., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| Profitability ratio | Description | The company |
|---|---|---|
| Gross profit margin | Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. | Cummins Inc. gross profit margin ratio deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 exceeding Q3 2023 level. |
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | Cummins Inc. operating profit margin ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | Cummins Inc. net profit margin ratio deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | Cummins Inc. ROE deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |
| ROA | A profitability ratio calculated as net income divided by total assets. | Cummins Inc. ROA deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |
Gross Profit Margin
Cummins Inc., gross profit margin calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 31, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Gross margin | 2,041) | 2,001) | 2,071) | 2,148) | 2,029) | 1,819) | 1,642) | 1,726) | 1,532) | 1,317) | 1,414) | 1,478) | 1,486) | 1,361) | 1,349) | 890) | 1,294) | 1,313) | 1,494) | 1,641) | 1,532) | |||||||
| Net sales | 8,403) | 8,543) | 8,431) | 8,638) | 8,453) | 7,770) | 7,333) | 6,586) | 6,385) | 5,850) | 5,968) | 6,111) | 6,092) | 5,830) | 5,118) | 3,852) | 5,011) | 5,578) | 5,768) | 6,221) | 6,004) | |||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Gross profit margin1 | 24.29% | 24.22% | 24.23% | 23.72% | 23.94% | 23.93% | 23.77% | 24.16% | 23.61% | 23.71% | 23.91% | 24.51% | 24.34% | 24.70% | 24.78% | 24.70% | 25.43% | 25.37% | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| Boeing Co. | 10.04% | 9.93% | 9.09% | 6.65% | 7.20% | 5.26% | -1.41% | 2.74% | 3.20% | 4.84% | -0.25% | -1.35% | -7.82% | -9.78% | -1.31% | 1.83% | 0.47% | 5.83% | — | — | — | |||||||
| Caterpillar Inc. | 33.59% | 33.04% | 31.71% | 30.44% | 28.74% | 26.91% | 26.14% | 25.52% | 25.71% | 26.30% | 27.08% | 26.83% | 25.98% | 25.47% | 25.52% | 26.43% | 27.22% | 27.83% | — | — | — | |||||||
| Eaton Corp. plc | 37.06% | 36.36% | 35.54% | 34.51% | 33.64% | 33.19% | 32.83% | 32.55% | 32.36% | 32.28% | 32.14% | 32.23% | 30.80% | 30.52% | 30.54% | 30.99% | 32.61% | 32.97% | — | — | — | |||||||
| GE Aerospace | 22.35% | 21.95% | 23.26% | 23.29% | 24.24% | 24.55% | 24.52% | 25.22% | 24.26% | 24.19% | 24.97% | 22.43% | 18.80% | 17.26% | 15.53% | 16.78% | 19.21% | 19.96% | — | — | — | |||||||
| Honeywell International Inc. | 37.46% | 37.28% | 38.03% | 37.79% | 37.36% | 36.99% | 35.56% | 34.22% | 32.95% | 31.98% | 32.34% | 32.06% | 31.52% | 32.07% | 32.23% | 32.87% | 33.88% | 33.70% | — | — | — | |||||||
| Lockheed Martin Corp. | 12.10% | 12.55% | 12.54% | 12.70% | 12.74% | 12.56% | 12.99% | 13.39% | 13.36% | 13.52% | 13.34% | 13.00% | 13.26% | 13.23% | — | — | — | — | — | — | — | |||||||
| RTX Corp. | 17.01% | 17.54% | 17.36% | 20.43% | 20.53% | 20.38% | 20.49% | 20.17% | 19.94% | 19.40% | 17.59% | 15.79% | 13.98% | 15.08% | 18.75% | 22.86% | 25.86% | 25.93% | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Gross profit margin = 100
× (Gross marginQ1 2024
+ Gross marginQ4 2023
+ Gross marginQ3 2023
+ Gross marginQ2 2023)
÷ (Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023
+ Net salesQ2 2023)
= 100 × (2,041 + 2,001 + 2,071 + 2,148)
÷ (8,403 + 8,543 + 8,431 + 8,638)
= 24.29%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Gross profit margin | Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. | Cummins Inc. gross profit margin ratio deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 exceeding Q3 2023 level. |
Operating Profit Margin
Cummins Inc., operating profit margin calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 31, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Operating income | 923) | (1,212) | 950) | 997) | 1,026) | 802) | 626) | 897) | 604) | 495) | 666) | 735) | 810) | 629) | 670) | 336) | 634) | 354) | 699) | 848) | 799) | |||||||
| Net sales | 8,403) | 8,543) | 8,431) | 8,638) | 8,453) | 7,770) | 7,333) | 6,586) | 6,385) | 5,850) | 5,968) | 6,111) | 6,092) | 5,830) | 5,118) | 3,852) | 5,011) | 5,578) | 5,768) | 6,221) | 6,004) | |||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Operating profit margin1 | 4.87% | 5.17% | 11.34% | 10.72% | 11.12% | 10.43% | 10.03% | 10.74% | 10.28% | 11.27% | 11.83% | 12.28% | 11.70% | 11.45% | 10.19% | 10.01% | 11.23% | 11.45% | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| Boeing Co. | -0.93% | -0.99% | -1.86% | -4.62% | -3.58% | -5.33% | -11.99% | -6.98% | -6.53% | -4.66% | -10.80% | -12.18% | -20.36% | -21.95% | -11.39% | -7.90% | -8.05% | -2.58% | — | — | — | |||||||
| Caterpillar Inc. | 21.58% | 20.30% | 18.13% | 16.97% | 14.94% | 13.97% | 14.56% | 13.81% | 13.87% | 14.27% | 14.56% | 13.82% | 12.32% | 11.67% | 12.30% | 13.90% | 15.62% | 16.33% | — | — | — | |||||||
| Eaton Corp. plc | 17.28% | 16.75% | 16.28% | 15.48% | 14.85% | 14.55% | 13.90% | 16.33% | 15.97% | 15.69% | 15.50% | 12.54% | 10.81% | 11.45% | 11.39% | 11.87% | 13.86% | 13.38% | — | — | — | |||||||
| GE Aerospace | 8.79% | 8.49% | 8.08% | 6.92% | 7.40% | 6.05% | 7.05% | 8.12% | 7.31% | 8.58% | 7.86% | 6.82% | 4.72% | 5.49% | 7.26% | 9.19% | 12.10% | 12.85% | — | — | — | |||||||
| Honeywell International Inc. | 19.65% | 19.32% | 20.09% | 19.73% | 19.05% | 18.12% | 17.55% | 17.31% | 17.37% | 18.03% | 18.36% | 17.95% | 16.90% | 17.45% | 17.20% | 17.83% | 19.01% | 18.66% | — | — | — | |||||||
| Lockheed Martin Corp. | 12.20% | 12.59% | 12.57% | 12.80% | 12.78% | 12.65% | 13.15% | 13.47% | 13.50% | 13.61% | 13.50% | 13.19% | 13.19% | 13.22% | — | — | — | — | — | — | — | |||||||
| RTX Corp. | 5.32% | 5.17% | 4.79% | 8.63% | 8.73% | 8.07% | 7.93% | 7.81% | 7.75% | 7.70% | 5.93% | 4.61% | -3.59% | -3.34% | -0.30% | 2.90% | 11.73% | 11.64% | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Operating profit margin = 100
× (Operating incomeQ1 2024
+ Operating incomeQ4 2023
+ Operating incomeQ3 2023
+ Operating incomeQ2 2023)
÷ (Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023
+ Net salesQ2 2023)
= 100 × (923 + -1,212 + 950 + 997)
÷ (8,403 + 8,543 + 8,431 + 8,638)
= 4.87%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | Cummins Inc. operating profit margin ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Net Profit Margin
Cummins Inc., net profit margin calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 31, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income attributable to Cummins Inc. | 1,993) | (1,431) | 656) | 720) | 790) | 631) | 400) | 702) | 418) | 394) | 534) | 600) | 603) | 501) | 501) | 276) | 511) | 300) | 622) | 675) | 663) | |||||||
| Net sales | 8,403) | 8,543) | 8,431) | 8,638) | 8,453) | 7,770) | 7,333) | 6,586) | 6,385) | 5,850) | 5,968) | 6,111) | 6,092) | 5,830) | 5,118) | 3,852) | 5,011) | 5,578) | 5,768) | 6,221) | 6,004) | |||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Net profit margin1 | 5.70% | 2.16% | 8.40% | 7.89% | 8.37% | 7.66% | 7.32% | 8.26% | 8.00% | 8.87% | 9.32% | 9.52% | 9.00% | 9.03% | 8.12% | 8.46% | 9.34% | 9.59% | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| Boeing Co. | -2.81% | -2.86% | -3.74% | -6.08% | -5.86% | -7.41% | -13.75% | -8.69% | -8.00% | -6.75% | -13.50% | -14.30% | -20.87% | -20.42% | -7.34% | -4.27% | -4.84% | -0.83% | — | — | — | |||||||
| Caterpillar Inc. | 17.65% | 16.18% | 14.35% | 13.53% | 12.10% | 11.85% | 13.70% | 13.19% | 13.02% | 13.47% | 11.28% | 10.17% | 8.53% | 7.68% | 8.12% | 9.50% | 11.06% | 12.00% | — | — | — | |||||||
| Eaton Corp. plc | 14.38% | 13.87% | 13.24% | 12.30% | 12.00% | 11.86% | 11.36% | 11.70% | 11.21% | 10.92% | 10.60% | 9.86% | 8.05% | 7.90% | 7.53% | 8.03% | 10.19% | 10.34% | — | — | — | |||||||
| GE Aerospace | 5.32% | 14.68% | 15.08% | 13.91% | 12.35% | 0.31% | -8.10% | -6.18% | -6.70% | -9.17% | -0.06% | -3.39% | -4.68% | 7.81% | 4.92% | -5.55% | -2.75% | -5.69% | — | — | — | |||||||
| Honeywell International Inc. | 15.52% | 15.43% | 14.87% | 15.08% | 14.54% | 14.00% | 15.38% | 14.74% | 15.30% | 16.11% | 15.80% | 14.65% | 14.17% | 14.64% | 14.99% | 16.94% | 17.38% | 16.73% | — | — | — | |||||||
| Lockheed Martin Corp. | 9.73% | 10.24% | 10.29% | 10.48% | 8.60% | 8.69% | 9.07% | 7.33% | 9.45% | 9.42% | 9.13% | 10.69% | 10.53% | 10.45% | — | — | — | — | — | — | — | |||||||
| RTX Corp. | 4.90% | 4.64% | 4.76% | 7.88% | 8.08% | 7.75% | 6.76% | 6.84% | 6.47% | 6.00% | 5.20% | 3.51% | -4.44% | -6.22% | -4.20% | -2.52% | 5.87% | 7.19% | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Net profit margin = 100
× (Net income attributable to Cummins Inc.Q1 2024
+ Net income attributable to Cummins Inc.Q4 2023
+ Net income attributable to Cummins Inc.Q3 2023
+ Net income attributable to Cummins Inc.Q2 2023)
÷ (Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023
+ Net salesQ2 2023)
= 100 × (1,993 + -1,431 + 656 + 720)
÷ (8,403 + 8,543 + 8,431 + 8,638)
= 5.70%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | Cummins Inc. net profit margin ratio deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |
Return on Equity (ROE)
Cummins Inc., ROE calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 31, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income attributable to Cummins Inc. | 1,993) | (1,431) | 656) | 720) | 790) | 631) | 400) | 702) | 418) | 394) | 534) | 600) | 603) | 501) | 501) | 276) | 511) | 300) | 622) | 675) | 663) | |||||||
| Total Cummins Inc. shareholders’ equity | 9,067) | 8,850) | 10,658) | 10,337) | 9,623) | 8,975) | 8,380) | 8,738) | 8,436) | 8,474) | 8,082) | 7,866) | 8,109) | 8,062) | 7,700) | 7,192) | 7,068) | 7,507) | 7,810) | 8,278) | 7,820) | |||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| ROE1 | 21.37% | 8.31% | 26.24% | 24.58% | 26.22% | 23.97% | 22.84% | 23.44% | 23.07% | 25.15% | 27.69% | 28.03% | 23.20% | 22.19% | 20.62% | 23.76% | 29.82% | 30.11% | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| ROE, Competitors2 | ||||||||||||||||||||||||||||
| Boeing Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Caterpillar Inc. | 63.77% | 53.02% | 44.48% | 45.85% | 39.18% | 42.25% | 47.28% | 42.96% | 38.07% | 39.37% | 30.90% | 26.09% | 20.73% | 19.56% | 22.18% | 30.16% | 37.36% | 41.77% | — | — | — | |||||||
| Eaton Corp. plc | 17.63% | 16.90% | 16.29% | 15.10% | 14.72% | 14.45% | 14.26% | 14.12% | 13.35% | 13.06% | 12.95% | 12.23% | 9.54% | 9.44% | 9.58% | 10.87% | 14.93% | 13.75% | — | — | — | |||||||
| GE Aerospace | 11.76% | 34.63% | 35.27% | 30.77% | 27.72% | 0.62% | -18.56% | -12.75% | -12.20% | -16.17% | -0.11% | -7.29% | -9.82% | 16.04% | 11.41% | -13.31% | -6.71% | -17.58% | — | — | — | |||||||
| Honeywell International Inc. | 34.81% | 35.68% | 31.42% | 31.52% | 30.89% | 29.74% | 30.36% | 28.96% | 28.58% | 29.85% | 30.67% | 27.73% | 25.71% | 27.23% | 27.56% | 32.23% | 35.75% | 33.22% | — | — | — | |||||||
| Lockheed Martin Corp. | 101.89% | 101.24% | 75.11% | 76.41% | 58.97% | 61.86% | 49.05% | 41.16% | 62.10% | 57.62% | 62.90% | 109.51% | 110.16% | 113.60% | — | — | — | — | — | — | — | |||||||
| RTX Corp. | 5.75% | 5.34% | 4.59% | 7.67% | 7.61% | 7.16% | 6.36% | 6.34% | 5.79% | 5.29% | 4.65% | 3.07% | -3.74% | -4.88% | -3.67% | -2.42% | 10.42% | 13.25% | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
ROE = 100
× (Net income attributable to Cummins Inc.Q1 2024
+ Net income attributable to Cummins Inc.Q4 2023
+ Net income attributable to Cummins Inc.Q3 2023
+ Net income attributable to Cummins Inc.Q2 2023)
÷ Total Cummins Inc. shareholders’ equity
= 100 × (1,993 + -1,431 + 656 + 720)
÷ 9,067 = 21.37%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | Cummins Inc. ROE deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |
Return on Assets (ROA)
Cummins Inc., ROA calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 31, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income attributable to Cummins Inc. | 1,993) | (1,431) | 656) | 720) | 790) | 631) | 400) | 702) | 418) | 394) | 534) | 600) | 603) | 501) | 501) | 276) | 511) | 300) | 622) | 675) | 663) | |||||||
| Total assets | 31,827) | 32,005) | 32,097) | 31,735) | 31,433) | 30,299) | 29,769) | 24,477) | 24,122) | 23,710) | 23,063) | 22,608) | 22,962) | 22,624) | 21,568) | 20,314) | 20,076) | 19,737) | 20,346) | 20,254) | 19,846) | |||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| ROA1 | 6.09% | 2.30% | 8.71% | 8.01% | 8.03% | 7.10% | 6.43% | 8.37% | 8.07% | 8.99% | 9.70% | 9.75% | 8.19% | 7.91% | 7.36% | 8.41% | 10.50% | 11.45% | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| ROA, Competitors2 | ||||||||||||||||||||||||||||
| Boeing Co. | -1.60% | -1.62% | -2.11% | -3.32% | -3.03% | -3.60% | -6.14% | -3.90% | -3.60% | -3.03% | -5.77% | -5.92% | -7.85% | -7.80% | -2.77% | -1.75% | -2.39% | -0.48% | — | — | — | |||||||
| Caterpillar Inc. | 13.43% | 11.81% | 10.50% | 9.79% | 8.50% | 8.18% | 9.11% | 8.33% | 7.90% | 7.84% | 6.37% | 5.37% | 4.26% | 3.83% | 4.32% | 5.41% | 6.99% | 7.77% | — | — | — | |||||||
| Eaton Corp. plc | 8.83% | 8.37% | 8.03% | 7.37% | 7.23% | 7.03% | 6.67% | 6.58% | 6.30% | 6.30% | 6.06% | 5.12% | 4.20% | 4.43% | 4.48% | 5.08% | 6.90% | 6.74% | — | — | — | |||||||
| GE Aerospace | 2.14% | 5.81% | 6.45% | 5.89% | 5.33% | 0.12% | -3.23% | -2.38% | -2.48% | -3.28% | -0.02% | -1.03% | -1.34% | 2.25% | 1.49% | -1.75% | -0.90% | -1.87% | — | — | — | |||||||
| Honeywell International Inc. | 8.72% | 9.20% | 8.83% | 8.75% | 8.73% | 7.97% | 8.92% | 8.16% | 8.29% | 8.60% | 8.53% | 7.78% | 7.28% | 7.40% | 7.85% | 9.19% | 10.99% | 10.47% | — | — | — | |||||||
| Lockheed Martin Corp. | 12.33% | 13.19% | 12.29% | 12.39% | 10.41% | 10.84% | 11.28% | 9.09% | 12.06% | 12.41% | 11.69% | 13.71% | 13.52% | 13.47% | — | — | — | — | — | — | — | |||||||
| RTX Corp. | 2.17% | 1.97% | 1.96% | 3.43% | 3.43% | 3.27% | 2.82% | 2.81% | 2.63% | 2.39% | 2.09% | 1.37% | -1.67% | -2.17% | -1.55% | -1.01% | 2.94% | 3.96% | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
ROA = 100
× (Net income attributable to Cummins Inc.Q1 2024
+ Net income attributable to Cummins Inc.Q4 2023
+ Net income attributable to Cummins Inc.Q3 2023
+ Net income attributable to Cummins Inc.Q2 2023)
÷ Total assets
= 100 × (1,993 + -1,431 + 656 + 720)
÷ 31,827 = 6.09%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROA | A profitability ratio calculated as net income divided by total assets. | Cummins Inc. ROA deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |