Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the debt to assets ratio high or low?
The debt to assets ratio of 23.26% is in line with its 5-year average of 23.61%, around the middle of its 5-year range (18.98%–28.85%).
As of the fiscal period ended Tuesday, June 30, 2026. 3.68% below its 12-month average of 24.14%.
Reported quarterly debt to assets ratio; no daily interpolation.
DEBT TO ASSETS RATIO
23.26%
DEBT TO ASSETS RATIO AVG TTM
24.14%
DEBT TO ASSETS RATIO AVG 3Y
24.34%
DEBT TO ASSETS RATIO AVG 5Y
23.61%
DEBT TO ASSETS RATIO AVG 10Y
19.31%
DEBT TO ASSETS RATIO AVG 15Y
16.06%
DEBT TO ASSETS RATIO AVG 20Y
14.16%
CURRENT VS TTM AVG
-3.68%
CURRENT VS 3Y AVG
-4.46%
CURRENT VS 5Y AVG
-1.51%
CURRENT VS 10Y AVG
+20.44%
CURRENT VS 15Y AVG
+44.79%
CURRENT VS 20Y AVG
+64.21%
SECTOR MEDIAN · INDUSTRIALS
0.27%
median of 154 covered companies
CURRENT VS SECTOR MEDIAN
+8675.73%
vs the sector median at left
Cummins Inc.
Market Cap
$77.96B
Debt to Assets Ratio
23.26%
TTM Avg
24.14%
3Y Avg
24.34%
5Y Avg
23.61%
Market Cap
$77.18B
Debt to Assets Ratio
0.59%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$80.95B
Debt to Assets Ratio
0.28%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$81.61B
Debt to Assets Ratio
0.50%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$74.32B
Debt to Assets Ratio
0.38%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$73.89B
Debt to Assets Ratio
0.37%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$73.46B
Debt to Assets Ratio
0.32%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
| NAME | MARKET CAP | DEBT TO ASSETS RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Cummins Inc. (CMI) | $77.96B | 23.26% | 24.14% | 24.34% | 23.61% |
| Illinois Tool Works Inc. (ITW)vs › | $77.18B | 0.59% | N/A | N/A | N/A |
| Cintas Corporation (CTAS)vs › | $80.15B | 0.26% | N/A | N/A | N/A |
| FedEx Corporation (FDX)vs › | $75.20B | 0.43% | N/A | N/A | N/A |
| Canadian Pacific Kansas City Ltd. (CP)vs › | $80.95B | 0.28% | N/A | N/A | N/A |
| Bloom Energy Corporation (BE)vs › | $81.61B | 0.50% | N/A | N/A | N/A |
| Canadian National Railway Company (CNI)vs › | $74.32B | 0.38% | N/A | N/A | N/A |
| Norfolk Southern Corporation (NSC)vs › | $73.89B | 0.37% | N/A | N/A | N/A |
| Northrop Grumman Corporation (NOC)vs › | $73.46B | 0.32% | N/A | N/A | N/A |
| 3M Company (MMM)vs › | $85.68B | 0.36% | N/A | N/A | N/A |
Debt/Assets
23.3%
Debt/Equity
0.64
Current Ratio
1.73
Interest Coverage
11.8x
Formula: Debt/Assets = Total Debt / Total Assets × 100
Debt/Assets vs Debt/Equity:
Industry context matters: Capital-intensive industries (utilities, real estate) typically have higher Debt/Assets ratios than tech companies.
Debt/Assets ratio shows what percentage of a company's assets are financed by debt. Compare the current value with the historical chart and peer group to understand leverage over time.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | DEBT TO ASSETS RATIO |
|---|---|
| 2026-06-30 | 23.26% |
| 2026-03-31 | 23.92% |
| 2025-12-31 | 23.87% |
| 2025-09-30 | 24.32% |
| 2025-06-30 | 25.35% |
| 2025-03-31 | 24.70% |
| 2024-12-31 | 24.09% |
| 2024-09-30 | 25.31% |
| 2024-06-30 | 25.44% |
| 2024-03-31 | 22.92% |
| 2023-12-31 | 22.52% |
| 2023-09-30 | 24.83% |
| 2023-06-30 | 25.91% |
| 2023-03-31 | 26.24% |
| 2022-12-31 | 27.58% |
| 2022-09-30 | 28.85% |
| 2022-06-30 | 19.86% |
| 2022-03-31 | 18.98% |
| 2021-12-31 | 19.46% |
| 2021-10-03 | 19.06% |
| 2021-07-04 | 19.42% |
| 2021-04-04 | 19.85% |
| 2020-12-31 | 20.41% |
| 2020-09-27 | 21.17% |
| 2020-06-28 | 21.25% |
| 2020-03-29 | 19.10% |
| 2019-12-31 | 14.53% |
| 2019-09-29 | 15.32% |
| 2019-06-30 | 13.18% |
| 2019-03-31 | 14.35% |
| 2018-12-31 | 13.68% |
| 2018-09-30 | 12.98% |
| 2018-07-01 | 13.02% |
| 2018-04-01 | 12.38% |
| 2017-12-31 | 11.10% |
| 2017-10-01 | 12.53% |
| 2017-07-02 | 11.05% |
| 2017-04-02 | 12.44% |
| 2016-12-31 | 12.13% |
| 2016-10-02 | 12.88% |
| 2016-07-03 | 12.46% |
| 2016-04-03 | 12.34% |
| 2015-12-31 | 10.57% |
| 2015-09-27 | 10.46% |
| 2015-06-28 | 10.56% |
| 2015-03-29 | 10.84% |
| 2014-12-31 | 10.76% |
| 2014-09-28 | 10.80% |
| 2014-06-29 | 10.90% |
| 2014-03-30 | 11.48% |
| 2013-12-31 | 11.81% |
| 2013-09-29 | 12.51% |
| 2013-06-30 | 6.41% |
| 2013-03-31 | 6.30% |
| 2012-12-31 | 6.18% |
| 2012-09-30 | 6.45% |
| 2012-07-01 | 5.84% |
| 2012-04-01 | 5.64% |
| 2011-12-31 | 5.88% |
| 2011-09-25 | 6.29% |
| 2011-06-26 | 6.73% |
| 2011-03-27 | 7.15% |
| 2010-12-31 | 7.60% |
| 2010-09-26 | 8.41% |
| 2010-06-27 | 8.21% |
| 2010-03-28 | 8.38% |
| 2009-12-31 | 7.65% |
| 2009-09-27 | 8.15% |
| 2009-06-28 | 8.37% |
| 2009-03-29 | 8.89% |
| 2008-12-31 | 8.19% |
| 2008-09-28 | 7.42% |
| 2008-06-29 | 7.34% |
| 2008-03-30 | 8.08% |
| 2007-12-31 | 8.22% |
| 2007-09-30 | 8.27% |
| 2007-06-30 | 8.49% |
| 2007-04-01 | 9.33% |
| 2006-12-31 | 10.86% |
| 2006-10-01 | 14.00% |
| 2006-06-30 | 13.68% |
| 2006-04-02 | 18.95% |
| 2005-12-31 | 19.85% |
| 2005-09-25 | 19.70% |
| 2005-06-26 | 20.79% |
| 2005-03-27 | 21.29% |
| 2004-12-31 | 25.20% |
| 2004-09-26 | 25.81% |
| 2004-06-27 | 26.10% |
| 2004-03-28 | 27.31% |
| 2003-12-31 | 27.88% |
| 2003-09-28 | 21.46% |
| 2003-06-29 | 22.03% |
| 2003-03-30 | 22.87% |
| 2002-12-31 | 23.51% |
| 2002-09-29 | 21.67% |
