CMI · Cummins Inc.

$549.682026-05-17

Sector: Industrials; Industry: Industrial - Machinery; Sub-Industry: Construction Machinery & Heavy Transportation Equipment

Intrinsic Value Range Comparison · Mulya.ai

R&D capitalized (5yr)

Bull

$627

+14.0% vs market

Base · active

$540

-1.7% vs market

Bear

$378

-31.2% vs market

Mulya.ai vs Analyst IV Comparison?

Bear $378

Base $540

Market $550

Median $605

Bull $627

Market Price $550

Mulya.ai Base $540

Analysts Median $605

Mulya.ai IV range ($378 · $627)

Analysts Range ($540 · $703)

Fundamentals · historical + forward · base

italics = DCF projection

Period	Revenue	Rev Gr ?	Ops M% ?	Tax Rate ?	NOPAT ?	Reinvest ?	FCFF ?	WACC% ?	PV FCFF ?	ROIC ?	Inv. Cap ?	EPS ?	P/E
2021.Q4	$24.0B	—	12.2%	21.3%	$2.3B	−$795MM	$1.5B	8.2%	—	17.9%	$12.8B	$15.33	—
2022.Q4	$28.1B	16.9%	11.3%	22.6%	$2.5B	−$4.7B	−$2.3B	8.9%	—	15.8%	$18.2B	$15.47	—
2023.Q4	$34.1B	21.3%	5.6%	45.0%	$1.0B	$1.6B	$2.6B	8.6%	—	5.9%	$17.5B	$5.29	—
2024.Q4	$34.1B	0.1%	11.9%	17.0%	$3.4B	−$3.0B	$407MM	9.3%	—	18.2%	$19.6B	$28.39	—
2025.Q4	$33.7B	-1.3%	12.8%	25.4%	$3.2B	−$1.1B	$2.1B	9.3%	—	16.0%	$20.6B	$20.45	17.7
italics below = DCF projection · 10yr Rev CAGR: 5.5%
2026.Q4	$35.7B	+6.0%	13.0%	24.9%	$3.5B	−$1.5B	$2.0B	9.1%	$1.8B	16.3%	$22.2B	$23.17	23.7
2027.Q4	$38.7B	+8.5%	13.0%	24.3%	$3.8B	−$2.1B	$1.7B	9.0%	$1.4B	16.4%	$24.3B	$25.32	21.7
2028.Q4	$41.7B	+7.7%	13.0%	23.8%	$4.1B	−$2.0B	$2.2B	9.0%	$1.7B	16.4%	$26.3B	$27.47	20.0
2029.Q4	$44.1B	+5.8%	13.0%	23.2%	$4.4B	−$1.7B	$2.7B	8.9%	$1.9B	16.3%	$27.9B	$29.26	18.8
2030.Q4	$46.3B	+5.0%	13.0%	22.7%	$4.7B	−$1.5B	$3.1B	8.9%	$2.0B	16.2%	$29.4B	$30.94	17.8

Term. Yr+	$60.0B	4.1%	15.4%	20.0%	$7.4B	−$1.6B	$5.8B	8.6%	$55.1B	18.9%	—	—	—

Active scenario IV: $540 (-1.7% vs market)