Cummins (CMI) ROIC: History & Chart

Name: Cummins Inc. (CMI) Return on Invested Capital (ROIC) — historical time series
Creator: TGMCharts

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Cummins Inc.(CMI)

Industrial - Machinery · Columbus, IN

$532.77-5.25 (-0.98%)

Delayed quote: Sep 16, 2026, 10:55 AM EDT

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About Cummins Inc.

Cummins Inc. is a global innovator in power solutions, responsible for the design, manufacturing, distribution, and maintenance of a broad array of diesel and natural gas engines, alongside cutting-edge electric and hybrid powertrains, and associated components. Its operations are strategically divided into five segments: Engine, Distribution, Components, Power Systems, and New Power. The company's extensive engine portfolio, available under the Cummins brand and others, powers a vast range of heavy and medium-duty applications, including commercial trucks, buses, recreational vehicles, light-duty automobiles, construction and mining equipment, marine vessels, railway systems, oil and gas operations, defense, and agriculture. Complementing these engines, Cummins provides both new and remanufactured parts and comprehensive servicing. Beyond its core engine offerings, Cummins delivers sophisticated power generation systems, high-horsepower engines, and specialized application engineering. It also offers custom-designed assemblies, retail and wholesale aftermarket components, and expert repair services conducted both in-shop and on-site. The company's technological scope extends to emission control solutions, turbochargers, a variety of filtration systems (for air, fuel, lubricants, and hydraulics), coolants, fuel additives, and advanced electronic control modules, sensors, and supporting software. Fuel systems, both new and reconditioned, are also a key part of their product line, as are automated transmissions. For electrical power generation, Cummins provides standby and primary power generators, complete with controls, paralleling systems, and transfer switches, featuring products like Stamford and AVK A/C alternators. Embracing future energy demands, the company is a frontrunner in electrified power systems, encompassing battery technologies, fuel cells, and hydrogen production. This includes a robust offering of filtration, aftertreatment, control, air handling systems, automated transmissions, electric power generation, and battery solutions. Cummins distributes its diverse product range to original equipment manufacturers, an extensive network of distributors and dealers, and various other clientele worldwide. Founded in 1919 as the Cummins Engine Company, the enterprise adopted its current name, Cummins Inc., in 2001 and maintains its headquarters in Columbus, Indiana.

Columbus, IN

67,400 employees

www.cummins.com

Industrials / Industrial - Machinery

Sector: Industrials
Industry: Industrial - Machinery
CEO: Jennifer W. Rumsey

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CMI Return on Invested Capital (ROIC) Metrics

RETURN ON INVESTED CAPITAL (ROIC)

10.95%

RETURN ON INVESTED CAPITAL (ROIC) AVG TTM

11.65%

RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y

10.05%

RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y

11.90%

RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y

12.07%

RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y

13.00%

RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y

13.01%

CURRENT VS TTM AVG

-5.99%

CURRENT VS 3Y AVG

+8.99%

CURRENT VS 5Y AVG

-7.98%

CURRENT VS 10Y AVG

-9.27%

CURRENT VS 15Y AVG

-15.78%

CURRENT VS 20Y AVG

-15.80%

SECTOR MEDIAN · INDUSTRIALS

9.55%

median of 154 covered companies

CURRENT VS SECTOR MEDIAN

+14.61%

vs the sector median at left

NAME	MARKET CAP	RETURN ON INVESTED CAPITAL (ROIC)	TTM	3Y	5Y
Cummins Inc. (CMI)	$73.52B	10.95%	11.65%	10.05%	11.90%
Canadian National Railway Company (CNI)vs ›	$72.26B	8.89%	8.82%	9.98%	9.70%
Norfolk Southern Corporation (NSC)vs ›	$71.74B	7.33%	7.38%	7.64%	7.88%
FedEx Corporation (FDX)vs ›	$71.60B	5.92%	6.18%	6.03%	6.34%
Northrop Grumman Corporation (NOC)vs ›	$75.64B	9.97%	9.50%	8.59%	9.56%
Illinois Tool Works Inc. (ITW)vs ›	$77.40B	24.71%	25.90%	25.08%	23.03%
Canadian Pacific Kansas City Ltd. (CP)vs ›	$77.35B	5.02%	4.89%	4.83%	5.73%
Republic Services, Inc. (RSG)vs ›	$68.74B	9.07%	9.07%	8.40%	8.01%
Bloom Energy Corporation (BE)vs ›	$79.79B	7.65%	1.50%	-6.50%	-6.96%
Cintas Corporation (CTAS)vs ›	$80.51B	23.53%	23.31%	21.46%	19.94%

NAME

MARKET CAP

RETURN ON INVESTED CAPITAL (ROIC)

TTM

Cummins Inc. (CMI)

$73.52B

10.95%

11.65%

10.05%

11.90%

Canadian National Railway Company (CNI)vs ›

$72.26B

8.89%

8.82%

9.98%

9.70%

Norfolk Southern Corporation (NSC)vs ›

$71.74B

7.33%

7.38%

7.64%

7.88%

FedEx Corporation (FDX)vs ›

$71.60B

5.92%

6.18%

6.03%

6.34%

Northrop Grumman Corporation (NOC)vs ›

$75.64B

9.97%

9.50%

8.59%

9.56%

Illinois Tool Works Inc. (ITW)vs ›

$77.40B

24.71%

25.90%

25.08%

23.03%

Canadian Pacific Kansas City Ltd. (CP)vs ›

$77.35B

5.02%

4.89%

4.83%

5.73%

Republic Services, Inc. (RSG)vs ›

$68.74B

9.07%

8.40%

8.01%

Bloom Energy Corporation (BE)vs ›

$79.79B

7.65%

1.50%

-6.50%

-6.96%

Cintas Corporation (CTAS)vs ›

$80.51B

23.53%

23.31%

21.46%

19.94%

Return on Invested Capital (ROIC) Formula & Definition

ROIC = NOPAT / Invested Capital, where NOPAT = Operating Income × (1 − effective tax rate) and Invested Capital = Total Assets − (Current Liabilities − Short-Term Debt)

Return on invested capital measures the after-tax operating return a company earns on the capital invested in the business. TGMCharts computes it from reported statements: trailing-twelve-month operating income after tax, over invested capital at the latest balance sheet — total assets less the non-interest-bearing current liabilities (payables, accruals, deferred revenue) that fund them; short-term debt stays in the capital base. The tax rate is the period's own effective rate (income tax ÷ pretax income), capped at 45%; when pretax income is zero or negative, or the tax line is a net benefit, no tax is deducted — the operating figure is shown untaxed rather than adjusted by an assumed rate. Not shown for banks, insurers or funds.

Return on Invested Capital (ROIC) FAQ

What is the return on invested capital (ROIC) for Cummins Inc. (CMI)?

The return on invested capital (ROIC) for CMI stock is 10.95%.

Is Cummins Inc.'s return on invested capital (ROIC) high or low?

The return on invested capital (ROIC) of 10.95% is in line with its 5-year average of 11.90%, around the middle of its 5-year range (4.61%–13.78%).

What is the TTM average return on invested capital (ROIC) for Cummins Inc. (CMI)?

The TTM average return on invested capital (ROIC) for CMI stock is 11.65%.

What is the 3Y average return on invested capital (ROIC) for Cummins Inc. (CMI)?

The 3Y average return on invested capital (ROIC) for CMI stock is 10.05%.

What is the 5Y average return on invested capital (ROIC) for Cummins Inc. (CMI)?

The 5Y average return on invested capital (ROIC) for CMI stock is 11.90%.

What is the 10Y average return on invested capital (ROIC) for Cummins Inc. (CMI)?

The 10Y average return on invested capital (ROIC) for CMI stock is 12.07%.

What is the 15Y average return on invested capital (ROIC) for Cummins Inc. (CMI)?

The 15Y average return on invested capital (ROIC) for CMI stock is 13.00%.

What is the 20Y average return on invested capital (ROIC) for Cummins Inc. (CMI)?

The 20Y average return on invested capital (ROIC) for CMI stock is 13.01%.

DATE	RETURN ON INVESTED CAPITAL (ROIC)
2026-06-30	10.95%
2026-03-31	11.13%
2025-12-31	11.86%
2025-09-30	11.87%
2025-06-30	12.43%
2025-03-31	12.74%
2024-12-31	13.78%
2024-09-30	5.77%
2024-06-30	5.59%
2024-03-31	5.72%
2023-12-31	4.61%
2023-09-30	12.73%
2023-06-30	11.43%
2023-03-31	11.51%
2022-12-31	10.20%
2022-09-30	9.08%
2022-06-30	11.85%
2022-03-31	11.26%
2021-12-31	12.37%
2021-10-03	13.59%
2021-07-04	13.53%
2021-04-04	11.20%
2020-12-31	10.43%
2020-09-27	9.43%
2020-06-28	10.39%
2020-03-29	13.72%
2019-12-31	15.14%
2019-09-29	17.02%
2019-06-30	18.00%
2019-03-31	17.66%
2018-12-31	16.33%
2018-09-30	10.81%
2018-07-01	9.90%
2018-04-01	9.67%
2017-12-31	10.06%
2017-10-01	13.07%
2017-07-02	13.16%
2017-04-02	13.37%
2016-12-31	13.25%
2016-10-02	11.18%
2016-07-03	12.02%
2016-04-03	12.81%
2015-12-31	13.11%
2015-09-27	14.70%
2015-06-28	15.01%
2015-03-29	14.69%
2014-12-31	14.22%
2014-09-28	14.57%
2014-06-29	14.00%
2014-03-30	14.52%
2013-12-31	13.78%
2013-09-29	13.64%
2013-06-30	15.56%
2013-03-31	16.21%
2012-12-31	18.18%
2012-09-30	20.52%
2012-07-01	22.89%
2012-04-01	24.13%
2011-12-31	24.01%
2011-09-25	23.26%
2011-06-26	20.96%
2011-03-27	18.17%
2010-12-31	15.63%
2010-09-26	15.07%
2010-06-27	13.00%
2010-03-28	10.30%
2009-12-31	8.03%
2009-09-27	5.28%
2009-06-28	7.60%
2009-03-29	11.57%
2008-12-31	14.85%
2008-09-28	16.35%
2008-06-29	15.31%
2008-03-30	14.34%
2007-12-31	13.93%
2007-09-30	14.38%
2007-06-30	14.28%
2007-04-01	14.97%
2006-12-31	15.16%
2006-10-01	14.47%
2006-06-30	14.36%
2006-04-02	13.11%
2005-12-31	12.68%
2005-09-25	11.75%
2005-06-26	11.54%
2005-03-27	9.90%
2004-12-31	7.89%
2004-09-26	6.87%
2004-06-27	4.86%
2004-03-28	3.43%
2003-12-31	1.47%
2003-09-28	1.81%
2003-06-29	2.69%

DATE

RETURN ON INVESTED CAPITAL (ROIC)

2026-06-30

10.95%

2026-03-31

11.13%

2025-12-31

11.86%

2025-09-30

11.87%

2025-06-30

12.43%

2025-03-31

12.74%

2024-12-31

13.78%

2024-09-30

5.77%

2024-06-30

5.59%

2024-03-31

5.72%

2023-12-31

4.61%

2023-09-30

12.73%

2023-06-30

11.43%

2023-03-31

11.51%

2022-12-31

10.20%

2022-09-30

9.08%

2022-06-30

11.85%

2022-03-31

11.26%

2021-12-31

12.37%

2021-10-03

13.59%

2021-07-04

13.53%

2021-04-04

11.20%

2020-12-31

10.43%

2020-09-27

9.43%

2020-06-28

10.39%

2020-03-29

13.72%

2019-12-31

15.14%

2019-09-29

17.02%

2019-06-30

18.00%

2019-03-31

17.66%

2018-12-31

16.33%

2018-09-30

10.81%

2018-07-01

9.90%

2018-04-01

9.67%

2017-12-31

10.06%

2017-10-01

13.07%

2017-07-02

13.16%

2017-04-02

13.37%

2016-12-31

13.25%

2016-10-02

11.18%

2016-07-03

12.02%

2016-04-03

12.81%

2015-12-31

13.11%

2015-09-27

14.70%

2015-06-28

15.01%

2015-03-29

14.69%

2014-12-31

14.22%

2014-09-28

14.57%

2014-06-29

14.00%

2014-03-30

14.52%

2013-12-31

13.78%

2013-09-29

13.64%

2013-06-30

15.56%

2013-03-31

16.21%

2012-12-31

18.18%

2012-09-30

20.52%

2012-07-01

22.89%

2012-04-01

24.13%

2011-12-31

24.01%

2011-09-25

23.26%

2011-06-26

20.96%

2011-03-27

18.17%

2010-12-31

15.63%

2010-09-26

15.07%

2010-06-27

13.00%

2010-03-28

10.30%

2009-12-31

8.03%

2009-09-27

5.28%

2009-06-28

7.60%

2009-03-29

11.57%

2008-12-31

14.85%

2008-09-28

16.35%

2008-06-29

15.31%

2008-03-30

14.34%

2007-12-31

13.93%

2007-09-30

14.38%

2007-06-30

14.28%

2007-04-01

14.97%

2006-12-31

15.16%

2006-10-01

14.47%

2006-06-30

14.36%

2006-04-02

13.11%

2005-12-31

12.68%

2005-09-25

11.75%

2005-06-26

11.54%

2005-03-27

9.90%

2004-12-31

7.89%

2004-09-26

6.87%

2004-06-27

4.86%

2004-03-28

3.43%

2003-12-31

1.47%

2003-09-28

1.81%

2003-06-29

2.69%

Return on Invested Capital (ROIC): 10.95%

CMI Return on Invested Capital (ROIC)

CMI Average Return on Invested Capital (ROIC) Chart

CMI Current vs Average Return on Invested Capital (ROIC) Chart

CMI Return on Invested Capital (ROIC) Metrics

CMI Competitors' Return on Invested Capital (ROIC)

Capital Efficiency

Return on Invested Capital (ROIC) Formula & Definition

Return on Invested Capital (ROIC) FAQ

CMI Return on Invested Capital (ROIC) History

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