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Last $135.67 USD
Change Today +0.45 / 0.33%
Volume 1.1M
CMI On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 3:47 PM 06/2/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

500 Jackson Street

Box 3005

Columbus, IN 47202

United States

Phone: 812-377-5000

Fax:

Tognum (MTU), and Kohler/SDMO (Kohler Group), as well as GE Jenbacher, FG Wilson (CAT group), Generac, Mitsubishi (MHI), and others. The company’s Alternators business competes globally with Emerson Electric Co., Marathon Electric, Meccalte, and others. Distribution Entities North American Distributors: As of December 31, 2014, the company’s distribution channel in North America included three unconsolidated partially-owned distributors. Its equity interests in these nonconsolidated entities ranged from 49 percent to 50 percent. The company also had approximately a 50 percent ownership interest in two partially owned distributors, which the company consolidates. Komatsu Cummins Chile, Ltda.: Komatsu Cummins Chile, Ltda. is a joint venture with Komatsu America Corporation. The joint venture is a distributor that offers the range of the company’s products and services to customers and end-users in the Chilean and Peruvian markets. Manufacturing Entities Chongqing Cummins Engine Company, Ltd.: Chongqing Cummins Engine Company, Ltd. is a joint venture in China with Chongqing Machinery and Electric Co. Ltd. This joint venture manufactures various models of the company’s heavy-duty and high-horsepower diesel engines, primarily serving the industrial and stationary power markets in China. Dongfeng Cummins Engine Company, Ltd.: Dongfeng Cummins Engine Company, Ltd. is a joint venture in China with Dongfeng Automotive Co. Ltd., a subsidiary of Dongfeng Motor Corporation, a medium-duty and heavy-duty truck manufacturer in China. Dongfeng Cummins Engine Company, Ltd. produces Cummins 4- to 13-liter mechanical engines, full-electric diesel engines, with a power range from 125 to 545 horsepower, and natural gas engines. Beijing Foton Cummins Engine Co., Ltd.: Beijing Foton Cummins Engine Co., Ltd. is a joint venture in China with Beiqi Foton Motor Co., Ltd., a commercial vehicle manufacturer, which consists of two lines of business, such as a light-duty business and a heavy-duty business. The light-duty business produces ISF 2.8 liter and ISF 3.8 liter families of the company’s high performance light-duty diesel engines in Beijing. These engines are used in light-duty commercial trucks, pickup trucks, buses, and multipurpose and sport utility vehicles with main markets in China, Brazil, and Russia. Certain types of marine, small construction equipment, and industrial applications are also served by these engine families. Non-Wholly-Owned Subsidiary The company has a controlling interest in Cummins India Ltd. (CIL), which is a publicly listed company on various stock exchanges in India. CIL produces mid-range, heavy-duty and high-horsepower engines, generators for the Indian and export markets, and natural gas spark-ignited engines for power generation, automotive, and industrial applications. CIL also has distribution and power generation operations. Customers PACCAR is the company’s major customer that accounted for approximately 14 percent of its consolidated net sales in 2014. The company has long-term supply agreements with PACCAR for its heavy-duty ISX 15 liter and ISX 11.9 liter engines, and its ISL 9 liter mid-range engine. The company also has long-term heavy-duty engine supply agreements with Navistar, Volvo Trucks North America, and Daimler Trucks North America; and long-term mid-range supply agreements with Daimler Trucks North America, Navistar, Ford, and MAN Latin America. The company also has an agreement with Chrysler to supply engines for its Ram trucks. In its off-highway markets, the company has various engine and component supply agreements across its mid-range and high-horsepower businesses with Komatsu Ltd., as well as various joint ventures and other license agreements in its Engine, Component, and Distribution segments. Seasonality The company’s Power Generation segment experiences seasonal declines in the first quarter (year ending December 2014) due to general declines in construction spending during this period and its Distribution segment experiences seasonal declines in its first quarter business activity due to holiday periods in Asia and Australia. Research

 

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Company Last Change
Ingersoll-Rand PLC $69.15 USD +0.16
Komatsu Ltd ¥2,557 JPY -34.00
Kubota Corp ¥2,052 JPY -12.00
Kyocera Corp ¥6,711 JPY -53.00
PACCAR Inc $64.61 USD +0.55
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Industry Analysis

CMI

Industry Average

Valuation CMI Industry Range
Price/Earnings 14.5x
Price/Sales 1.3x
Price/Book 3.2x
Price/Cash Flow 14.5x
TEV/Sales 1.0x
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