Cummins vs Paccar
Cummins is the larger business, with $33.67bn of revenue in fiscal 2025 against $28.44bn for Paccar (1.2 times as much). Cummins grew faster (-1.3% against -15.5%). Cummins kept more of each dollar of sales as profit: a net margin of 8.4% against 8.4%. Paccar carries less debt relative to equity (0.0% against 61.2%).
| Latest fiscal year | CumminsCMI, 2025 | PaccarPCAR, 2025 |
|---|---|---|
| Revenue | $33.67bn | $28.44bn |
| Revenue growth | -1.3% | -15.5% |
| Net income | $2.84bn | $2.38bn |
| Operating margin | 12.0% | — |
| Net margin | 8.4% | 8.4% |
| Return on equity | 25.1% | 12.9% |
| Free cash flow | $2.39bn | $3.67bn |
| Cash | $2.85bn | — |
| Total debt | $7.55bn | $0 |
| Debt to equity | 61.2% | 0.0% |
| Dividend per share | $7.64 | $2.72 |
| Dividend yield | 1.6% | 2.7% |
| Share buybacks | — | $36.1m |
| Employees | — | 25,900 |
| Market value | $69.69bn | $53.70bn |
| Price vs our value range | Above our value range | — |
| Moat score | 71 (Strong) | 68 (Moderate) |
| Insider trades, 12 months | 0 buys, 56 sales | 0 buys, 16 sales |