Cummins Inc (CMI)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 8,249,000 | 6,719,000 | 5,695,000 | 4,894,000 | 5,980,000 |
| Revenue | US$ in thousands | 34,065,000 | 28,074,000 | 24,021,000 | 19,811,000 | 23,571,000 |
| Gross profit margin | 24.22% | 23.93% | 23.71% | 24.70% | 25.37% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $8,249,000K ÷ $34,065,000K
= 24.22%
Cummins Inc.'s gross profit margin has shown a slight fluctuation over the past five years. The margin decreased from 25.37% in 2019 to 24.70% in 2020, before decreasing further to 23.71% in 2021. It then saw a slight improvement in 2022 to 23.93% and another increase to 24.22% in 2023. Despite these fluctuations, Cummins Inc. has maintained a gross profit margin above 23%, indicating the company's ability to effectively manage its production costs and generate profit from its core business activities.
Peer comparison
Dec 31, 2023
Company name
Symbol
Gross profit margin
Cummins Inc
CMI
24.22%
Brunswick Corporation
BC
13.58%
BWX Technologies Inc
BWXT
23.44%