Stock Analysis on Net
Stock Analysis on Net

Cummins Inc. (NYSE:CMI)

Common-Size Income Statement

Cummins Inc., common-size consolidated income statement

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net sales 100.00 100.00 100.00 100.00 100.00
Cost of sales -75.78 -76.07 -76.29 -75.30 -74.63
Gross margin 24.22% 23.93% 23.71% 24.70% 25.37%
Selling, general and administrative expenses -9.78 -9.57 -9.88 -10.73 -10.41
Research, development and engineering expenses -4.40 -4.55 -4.54 -4.57 -4.25
Equity, royalty and interest income from investees 1.42 1.24 2.11 2.28 1.40
Restructuring actions 0.00 0.00 0.00 0.00 -0.50
Other operating expense, net -6.28 -0.62 -0.13 -0.23 -0.15
Operating income and expenses -19.05% -13.50% -12.44% -13.25% -13.92%
Operating income 5.17% 10.43% 11.27% 11.45% 11.45%
Interest expense -1.10 -0.71 -0.46 -0.50 -0.46
Other income, net 0.70 0.32 0.65 0.85 1.03
Income before income taxes 4.77% 10.04% 11.45% 11.80% 12.02%
Income tax expense -2.31 -2.27 -2.44 -2.66 -2.40
Consolidated net income 2.47% 7.78% 9.01% 9.14% 9.62%
Net income attributable to noncontrolling interests -0.31 -0.11 -0.14 -0.11 -0.03
Net income attributable to Cummins Inc. 2.16% 7.66% 8.87% 9.03% 9.59%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Cummins Inc. operating income as a percentage of net sales decreased from 2021 to 2022 and from 2022 to 2023.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Cummins Inc. income before income taxes as a percentage of net sales decreased from 2021 to 2022 and from 2022 to 2023.
Net income attributable to Cummins Inc. The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Cummins Inc. net income attributable to Cummins Inc. as a percentage of net sales decreased from 2021 to 2022 and from 2022 to 2023.