CMI
Cummins
PE ratio, current and historical analysis
- Stocks
- Industrials
- NYSE: CMI
- PE Ratio
The PE ratio for Cummins stock stands at 35.03 as of Jun 4, 2026. This is calculated based on the TTM EPS of $19.36 and the stock price of $678.1 per share. An increase of 56% has been observed in the PE ratio compared to its average of 22.4 of the last four quarters.
CMI PE ratio history
Over the last ten years, the average PE ratio of Cummins has been 17.67. The current 35.03 P/E ratio is 98% higher than the historical average. Looking back at the last ten years, CMI's PE ratio peaked in the Dec 2023 quarter at 46.16, with a price of $239.57 and an EPS of $5.19. The Mar 2020 quarter marked the lowest point at 9.58, with a price of $131.66 and an EPS of $13.74.
Cummins PE ratio by year
Maximum annual increase: 189.59% in 2023
Maximum annual decrease: -73.55% in 2024
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 24.76 | 102.78% | $510.45 | $20.62 |
| 2024 | 12.21 | -73.55% | $348.6 | $28.55 |
| 2023 | 46.16 | 189.59% | $239.57 | $5.19 |
| 2022 | 15.94 | 7.7% | $242.29 | $15.2 |
| 2021 | 14.8 | -21.36% | $218.14 | $14.74 |
| 2020 | 18.82 | 52.88% | $227.1 | $12.07 |
| 2019 | 12.31 | 21.64% | $178.96 | $14.54 |
| 2018 | 10.12 | -65.68% | $133.64 | $13.2 |
| 2017 | 29.49 | 77.97% | $176.64 | $5.99 |
| 2016 | 16.57 | 47.95% | $136.67 | $8.25 |
| 2015 | 11.2 | -29.78% | $88.01 | $7.86 |
| 2014 | 15.95 | -10.29% | $144.17 | $9.04 |
| 2013 | 17.78 | 42.58% | $140.97 | $7.93 |
| 2012 | 12.47 | 35.69% | $108.35 | $8.69 |
| 2011 | 9.19 | -55.82% | $88.02 | $9.58 |
Cummins PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 27.79 | 12.24% | $538.02 | $19.36 |
| Dec 2025 | 24.76 | 13.79% | $510.45 | $20.62 |
| Sep 2025 | 21.76 | 42.41% | $422.37 | $19.41 |
| Jun 2025 | 15.28 | -1.16% | $327.5 | $21.43 |
| Mar 2025 | 15.46 | 26.62% | $313.44 | $20.27 |
| Dec 2024 | 12.21 | -42.68% | $348.6 | $28.55 |
| Sep 2024 | 21.3 | 7.14% | $323.79 | $15.2 |
| Jun 2024 | 19.88 | -7.49% | $276.93 | $13.93 |
| Mar 2024 | 21.49 | -53.44% | $294.65 | $13.71 |
| Dec 2023 | 46.16 | 298.96% | $239.57 | $5.19 |
| Sep 2023 | 11.57 | -15.3% | $228.46 | $19.75 |
| Jun 2023 | 13.66 | 2.02% | $245.16 | $17.95 |
| Mar 2023 | 13.39 | -16% | $238.88 | $17.84 |
| Dec 2022 | 15.94 | 5.91% | $242.29 | $15.2 |
| Sep 2022 | 15.05 | 12.06% | $203.51 | $13.52 |
CMI Price vs fair value
CMI average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
Currently, CMI's PE ratio is higher than its 3, 5 and 10-year averages.
PE comparison
Cummins's price to earnings (P/E) of 35.03 is higher than the Industrials sector and the industry average but lower than its peers average. In comparison with the Industrials sector average of 29.85, Cummins's price to earnings (P/E) is 17% higher.
CMI PE vs peers
In comparison to its peers CAT and GE, CMI's PE ratio is lower, but it is higher than PCAR's. Cummins's current PE ratio of 35.03 is lower than the average of its peers, which is 44.06.
| Stock name | PE ratio | Market cap |
|---|---|---|
| PCAR Paccar Inc | 25.07 | $62.14B |
| CMI Cummins Inc | 35.03 | $93.57B |
| GE General Electric Co | 40.06 | $341.85B |
| BWA Borgwarner Inc | 44.02 | $15.8B |
| CAT Caterpillar Inc | 46.6 | $433.22B |
| RBC RBC Bearings Inc. | 64.53 | $18.66B |
Frequently asked questions
What is Cummins's PE ratio?
As of Jun 4, 2026, CMI stock has a price to earnings ratio of 35.03.
What is the 3-year average PE ratio for Cummins (CMI)?
The average PE ratio for CMI stock over the past 3 years is 20.94.
What is the 5-year average PE ratio for Cummins (CMI)?
The average PE ratio for CMI stock over the past 5 years is 18.5.
What is the highest PE ratio for CMI?
Over the last ten years, the Dec 2023 quarter recorded the highest quarterly PE ratio at 46.16.
How does the current PE ratio for CMI compare to its historical average?
The current PE ratio of CMI is 98% higher than the 10-year historical average.
How is CMI's PE ratio calculated (Cummins PE ratio formula)?
The P/E ratio is obtained by dividing the latest price of a stock by its trailing twelve months EPS. As of today (Jun 4, 2026), Cummins's share price is $678.1. The company's earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $19.36. Therefore, Cummins's PE ratio for today is 35.03. PE RATIO(35.03) = STOCK PRICE($678.1) / TTM EPS($19.36)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.