Cummins Inc (CMI)
Debt-to-assets ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 6,651,000 | 7,426,000 | 7,070,000 | 6,491,000 | 6,375,000 | 6,939,000 | 7,280,000 | 7,386,000 | 7,400,000 | 7,635,000 | 4,109,000 | 4,060,000 | 4,461,000 | 4,285,000 | 4,304,000 | 4,338,000 | 4,665,000 | 4,532,000 | 4,241,000 | 3,661,000 |
| Total assets | US$ in thousands | 31,540,000 | 32,052,000 | 31,320,000 | 31,827,000 | 32,005,000 | 32,097,000 | 31,735,000 | 31,433,000 | 30,299,000 | 29,769,000 | 24,477,000 | 24,122,000 | 23,710,000 | 23,063,000 | 22,608,000 | 22,962,000 | 22,624,000 | 21,568,000 | 20,314,000 | 20,076,000 |
| Debt-to-assets ratio | 0.21 | 0.23 | 0.23 | 0.20 | 0.20 | 0.22 | 0.23 | 0.23 | 0.24 | 0.26 | 0.17 | 0.17 | 0.19 | 0.19 | 0.19 | 0.19 | 0.21 | 0.21 | 0.21 | 0.18 |
December 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $6,651,000K ÷ $31,540,000K
= 0.21
Cummins Inc's debt-to-assets ratio has shown some fluctuations over the past few years, ranging from 0.17 to 0.26. The ratio decreased from 0.18 in March 2020 to 0.17 in March 2022, indicating a lower level of debt relative to assets. However, there was a notable increase in the ratio to 0.26 in September 2022, suggesting a higher proportion of debt compared to assets at that time.
Subsequently, the ratio fluctuated around the 0.20 to 0.23 range until December 2024. Overall, Cummins Inc's debt-to-assets ratio has remained relatively stable in recent periods, indicating a reasonable balance between debt and assets in the company's capital structure. Additional analysis and comparison with industry benchmarks may provide further insights into the company's leverage position.
Peer comparison
Dec 31, 2024