CMI Historical PE Ratio Notes

— Cummins Inc. (CMI) is a global leader specializing in diesel & alternative fuel engines, electrical generation systems, power solutions, & related technologies. The company supplies a wide range of industries, including trucking, construction, mining, marine, and rail, making it sensitive to trends in global trade, infrastructure spending, & industrial activity. Historically, CMI’s price-to-earnings (PE) ratio has been affected by the cyclical nature of its end markets; during economic expansions, increased demand for heavy equipment typically boosts Cummins’ sales & earnings, resulting in a lower PE ratio if the stock price doesn’t climb as quickly as earnings. Conversely, economic slowdowns can compress sales & margins, sometimes leaving the PE ratio elevated if earnings decline faster than share price. Additionally, CMI’s PE ratio reflects market perceptions of its ability to innovate—such as shifts toward clean energy technologies—and its resilience during downturns. As you review historical PE ratio charts or tables, consider how economic cycles, capital spending patterns, and technological shifts have influenced both Cummins’ earnings power & the market's willingness to pay for its future growth prospects.

On this page we presented the CMI Historical PE Ratio information for Cummins' stock. The average CMI historical PE based on using the annualized quarterly earnings result at each measurement period (for the "E" in the PE calculation; and the closing price on earnings date as the "P") is 14.9. Meanwhile, using the trailing twelve month (TTM) quarterly earnings result as our method of calculation the "E" value at each measurement period, the average CMI historical PE based on this TTM earnings result method is 15.3.

Let's now compare this CMI historical PE result, against the recent PE: when this page was posted on 8/4/2026, the most recent closing price for CMI had been 635.96, and the most recent quarterly earnings result, annualized, was 26.92. Meanwhile, the most recent TTM earnings summed to 24.28. From these numbers, we calculate the recent CMI PE on 8/4/2026 based on annualized quarterly EPS was 23.6. Based on CMI's history, that recent PE is elevated relative to the historical average, with the recent PE 58.4% higher than the historical average PE across our data set for Cummins. Looking at the recent CMI PE on 8/4/2026 based on TTM EPS, we calculate the ratio at 26.2. Based on CMI's history, that recent PE is elevated relative to the historical average, with the recent PE 71.2% higher than the historical average PE across our Cummins data set with TTM EPS used in the calculation at each period.

Another interesting CMI historical PE Ratio calculation we look at is to take the median earnings per share of the last four quarters for CMI, and then annualize the resulting value... with that annualized number then being used in the PE calculation. To walk through this math for CMI, we start with the past four EPS numbers and we first sort them from lowest to highest: 5.59, 5.81, 6.15, and 6.73. We then toss out the highest and lowest result, and then take the average of those two middle numbers — 5.81 and 6.15 — which gives us the median of 5.98. Basically the way to think about this 5.98 number is this: for the trailing four earnings reports, 5.98 marks the "middle ground" number where CMI has reported a value higher than 5.98 half the time, and has reported a value lower than 5.98 half the time. Annualizing that median value then gets us to 23.92/share, which we use as the denominator in our next PE calculation. With 635.96 as the numerator (as of 8/4/2026), the calculation is then 635.96 / 23.92 = 26.6 as the CMI PE ratio as of 8/4/2026, based on that annualized median value we calculated.

For self directed investors doing their due diligence on CMI or any other given stock, valuation analysis for CMI can greatly benefit from studying the past earnings and resulting PE calculations. This exercise can help inform an analysis as to whether the past earnings trajectory and current versus historical PE ratios justify the current stock value.

That's why we bring you HistoricalPERatio.com to make it easy for investors to investigate Cummins PE history or the past PE information for any stock in our coverage universe. And in your continued research we hope you will be sure to check out the further links included for earnings surprises history (beat/miss data) as well as next earnings dates for CMI. Thanks for visiting, and the next time you need to research CMI Historical PE Ratio or the ratio for another stock, we hope you'll think of our site, as your go-to historical PE ratio research resource of choice.