Cummins vs Wabtec
Cummins reported revenue of $33.7 billion in fiscal 2025, 3.0 times Wabtec's $11.2 billion in fiscal 2025. Cummins' revenue fell 1.3% in its latest year, and Wabtec's grew 7.5%. Cummins had an operating margin of 11.9%, against 16.1% at Wabtec. Free cash flow was $2.4 billion at Cummins and $1.5 billion at Wabtec.
Side by side
| Cummins | Wabtec | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $33.7B | $11.2B |
| Revenue growth | −1.3% | 7.5% |
| Revenue growth a year, last 5 years | 11.2% | 8.1% |
| Gross margin | 25.3% | 34.1% |
| Operating margin | 11.9% | 16.1% |
| Net margin | 8.8% | 10.5% |
| Free cash flow | $2.4B | $1.5B |
| Free cash flow margin | 7.1% | 13.4% |
| Return on capital | 18.3% | 9.1% |
| Net debt to EBITDA | 0.7x | 2.1x |
| Dividends and buybacks | $1.1B | $396M |
| Change in diluted share count | −0.3% | −2.1% |
| Last close | $522.13 | $277.67 |
| P/E at the last close | 26.7× | 34.5× |
| Insider trades, last 12 months | sold $37.8 million | sold $43.5 million |
| Piotroski F-score | 7 of 9 | 7 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
CumminsWabtec
Operating margin
Percent of revenue
CumminsWabtec
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
CumminsWabtec