Price to Sales (P/S)
since 2005
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Reportable Segments
- Price to FCFE (P/FCFE)
- Selected Financial Data since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
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Calculation
Cummins Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Net sales1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 12, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2006 | = | ÷ | = | ÷ |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Cummins Inc. Annual Report.
- Share Price Trend
- The share price exhibited significant fluctuations over the analyzed period. Initially, it rose from $27.07 in 2006 to a peak of $53.40 in 2008, followed by a sharp decline to $20.80 in 2009. Subsequently, there was a strong recovery and upward trend, reaching a high of $245.11 in 2021. After a slight decrease to $223.51 in 2022, the share price again increased, closing near $256.85 in 2024. This pattern suggests periods of volatility interspersed with phases of robust growth.
- Sales per Share
- Sales per share demonstrated a generally increasing trajectory with some variability. From $53.37 in 2006, sales per share increased steadily to $71.23 in 2009 despite the share price drop that year. After a brief decline in 2010, sales continued upward, reaching $156.86 in 2020. There was a slight dip in 2021 followed by renewed growth, culminating at $240.14 in 2024. The overall trend indicates improving underlying business performance and revenue generation.
- Price-to-Sales (P/S) Ratio
- The P/S ratio shows notable volatility throughout the period. Starting at 0.51 in 2006, it increased to a peak of 1.51 in 2011, reflecting growing market valuation relative to sales. Thereafter, it fluctuated between approximately 0.88 and 1.54, indicating alternating periods where the stock was perceived as either undervalued or overvalued relative to sales. Notably, the ratio dropped during economic downturns and recovered during growth phases, emphasizing sensitivity to market conditions and investor sentiment.
- Overall Insights
- The financial data reveals a company experiencing cyclical market influences with underlying progressive growth in sales per share. Share price volatility appears linked to broader market or economic factors, yet the sustained rise in sales per share denotes increasing operational scale or efficiency. The varying P/S ratio suggests changing market perceptions of value, with intermittent corrections. The later years indicate a strong performance phase with share prices and sales per share reaching their highest recorded levels, although accompanied by a moderate P/S ratio decline, hinting at more balanced valuation relative to growth.
Comparison to Competitors
Cummins Inc., P/S, long-term trends, comparison to competitors
| Cummins Inc. | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|---|
| Feb 12, 2024 | ||||||||
| Feb 14, 2023 | ||||||||
| Feb 8, 2022 | ||||||||
| Feb 10, 2021 | ||||||||
| Feb 11, 2020 | ||||||||
| Feb 11, 2019 | ||||||||
| Feb 14, 2018 | ||||||||
| Feb 13, 2017 | ||||||||
| Feb 12, 2016 | ||||||||
| Feb 17, 2015 | ||||||||
| Feb 18, 2014 | ||||||||
| Feb 20, 2013 | ||||||||
| Feb 21, 2012 | ||||||||
| Feb 24, 2011 | ||||||||
| Feb 26, 2010 | ||||||||
| Feb 27, 2009 | ||||||||
| Feb 26, 2008 | ||||||||
| Feb 27, 2007 | ||||||||
| Feb 28, 2006 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Capital Goods)
Cummins Inc., P/S, long-term trends, comparison to sector (capital goods)
| Cummins Inc. | Capital Goods | |
|---|---|---|
| Feb 12, 2024 | ||
| Feb 14, 2023 | ||
| Feb 8, 2022 | ||
| Feb 10, 2021 | ||
| Feb 11, 2020 | ||
| Feb 11, 2019 | ||
| Feb 14, 2018 | ||
| Feb 13, 2017 | ||
| Feb 12, 2016 | ||
| Feb 17, 2015 | ||
| Feb 18, 2014 | ||
| Feb 20, 2013 | ||
| Feb 21, 2012 | ||
| Feb 24, 2011 | ||
| Feb 26, 2010 | ||
| Feb 27, 2009 | ||
| Feb 26, 2008 | ||
| Feb 27, 2007 | ||
| Feb 28, 2006 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
Cummins Inc., P/S, long-term trends, comparison to industry (industrials)
| Cummins Inc. | Industrials | |
|---|---|---|
| Feb 12, 2024 | ||
| Feb 14, 2023 | ||
| Feb 8, 2022 | ||
| Feb 10, 2021 | ||
| Feb 11, 2020 | ||
| Feb 11, 2019 | ||
| Feb 14, 2018 | ||
| Feb 13, 2017 | ||
| Feb 12, 2016 | ||
| Feb 17, 2015 | ||
| Feb 18, 2014 | ||
| Feb 20, 2013 | ||
| Feb 21, 2012 | ||
| Feb 24, 2011 | ||
| Feb 26, 2010 | ||
| Feb 27, 2009 | ||
| Feb 26, 2008 | ||
| Feb 27, 2007 | ||
| Feb 28, 2006 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).