CMI P/E ratio: current value, 10-year range and year-by-year history
Cash & Leverage
CMI's p/e ratio is higher than 95% of the last 10 years.
P/E ratio History
CMI P/E ratio by year
Yearly range of CMI’s p/e ratio from 2016 to 2026. Over the full period it ranged from 7.1 to 57.7, averaging 18.9.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 25.0 | 31.2 | 37.8 | 28.5 |
| 2025 | 11.1 | 17.7 | 27.2 | 24.9 |
| 2024 | 12.4 | 28.8 | 57.7 | 12.4 |
| 2023 | 11.0 | 13.5 | 17.1 | 12.2 |
| 2022 | 13.0 | 15.6 | 18.7 | 18.0 |
| 2021 | 13.6 | 17.9 | 23.0 | 14.9 |
| 2020 | 7.1 | 15.5 | 22.3 | 18.9 |
| 2019 | 8.6 | 10.6 | 12.4 | 12.4 |
| 2018 | 10.1 | 23.9 | 32.4 | 10.1 |
| 2017 | 16.2 | 17.8 | 19.0 | 17.9 |
| 2016 | 16.0 | 18.8 | 21.2 | 19.8 |
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How much the market pays for each dollar of annual profit. P/E = Stock Price / EPS. The raw number means little — what matters is whether it's high or low relative to the company's own history.
Price / Earnings Per ShareThe chart shows five color-coded historical zones: green (below 10th percentile) means historically very cheap, fading through lime and gray (the normal 25th–75th range) to orange and red (historically expensive). When the line sits in a green or lime zone, the stock is trading at an unusually low P/E relative to its own history.
- Cyclical businesses look cheapest on P/E at peak earnings — the "earnings trap." Use EV/EBITDA or normalised earnings for energy, materials, and financials.
- A falling P/E trend may signal a business in structural decline, not a buying opportunity.
Is CMI P/E ratio High or Low Right Now?
Cummins Inc.'s P/E ratio is currently 28.5, which is near historic high relative to its 10-year historical range. The 10-year median P/E ratio for CMI is approximately 17.5. See all CMI valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.