2025年全年收入337亿美元 全年净利润28亿美元 合每股摊薄收益20.50美元 康明斯公司（NYSE: CMI）日前发布第四季度及全年业绩。 尽管北美卡车市场持续疲软，康明斯在第四季度及全年仍实现强劲运营表现。分销事业部和动力系统事业部凭借执行效率 及数据中心备用电源的强劲需求，全年销售额和盈利能力均创历史新高。四季度，我们针对Accelera事业部电解槽业务计 入了相关费用，这是公司根据氢能普及预期变化所启动的战略举措，旨在在需求前景减弱的形势下精简运营、降低成本。 2025年是康明斯具有里程碑意义的一年。我们在推进关键战略重点方面取得重大进展，并在经济周期中持续提升业务表 现。我为员工的卓越表现感到自豪，他们在持续的不确定性中展现了韧性并实现对客户的承诺。正是凭借严格的成本管 理、多元化的产品矩阵以及高效的执行力，我们才能在充满挑战的环境下依然取得强劲业绩。 ——康明斯董事长兼首席执行官 2025年四季度康明斯息税前利润（EBITDA）为12亿美元，息税前利润率为13.5%，而上一年同期为10亿美元，息税前利 润率为12.1%。2025年和2024年第四季度的EBITDA均包含了上述相关费用。 202 ...

Core Viewpoint - Cummins Inc. demonstrates strong financial performance and market positioning, particularly in the Distribution and Power Systems segments, despite recent stock price fluctuations and challenges in the North American truck markets [3][5]. Financial Performance - Cummins reported record sales and profitability for the fourth quarter and full year of 2025, driven by high demand for data center backup power and disciplined execution [3][6]. - The company's market capitalization is approximately $74.63 billion, with a trading volume of 2,983,508 shares on the NYSE [4]. Stock Performance - The current stock price of Cummins (CMI) is $540.65, reflecting a decrease of 10.73% or $64.98 from previous levels [4]. - Over the past year, the stock has fluctuated between a high of $617.98 and a low of $260.02 [4]. Analyst Insights - UBS raised its price target for Cummins to $565 from $500, indicating a potential upside of about 4.5%, reflecting confidence in the company's operational performance and market position [2][6].

For the full year, revenue was $33.7 billion, down 1% from 2024. Reported EBITDA was $5.4 billion, or 16.0% of sales, compared with $6.3 billion, or 18.6%, in 2024. The 2025 figure included $458 million of electrolyzer-related charges, while 2024 results included a $1.3 billion gain related to the separation of Atmus and additional restructuring and Accelera-related charges. Excluding these items, Cummins reported record EBITDA of $5.8 billion, or 17.4% of sales, versus $5.4 billion, or 15.7%, in 2024.For t ...

来源：国际投行研究报告 雅诗兰黛下跌19% 增长恐慌拖累美股再次下跌！ 疲软的劳动力市场数据和对AI的忧虑进一步拉低美国股市，标普500指数年内转跌。软件股也再次大幅 下跌；比特币下跌13%，拖累Strategy股价下跌19%。 标普500指数信息技术板块下跌1.7%。微软(Microsoft)下跌5%，Salesforce回落4.7%。这轮跌势继续冲击 半导体公司，包括Advanced Micro Devices，该公司收盘下跌3.9%；以及英伟达(Nvidia)，该公司收盘下 跌1.4%。 Alphabet股价下跌0.5%，此前这家谷歌(Google)的母公司表示，今年可能进行最高可达1,850亿美元的人 工智能相关资本投资。高通(Qualcomm)发布的疲软预测拖累了这家芯片制造商的股价，其股价下跌了 8.5%。 雅诗兰黛(Estée Lauder)股价下跌19%，在标普500指数成份股中跌幅最大，此前这家美妆集团表示，预 计今年与关税相关的不利因素将使其利润减少约1亿美元。发动机制造商康明斯(Cummins)股价下跌 11%，创下自2020年3月新冠疫情爆发之初以来的最大单日百分比跌幅。 投资者涌入公 ...

康明斯（CMI）周四尾盘重挫12.6%，最新财报显示该公司正面临公路市场挑战。 该公司公布的四季度业绩喜忧参半，尽管每股收益超出预期，股价仍出现下跌。 四季度营收同比增长1.1%至85.4亿美元，结束了此前连续四个季度的下滑趋势。公司恢复了全年业绩指 引，预计2026财年营收将增长3%-8%，与市场预期相符。 业绩增长主要由全球发电需求的强劲增长、皮卡销量提升及定价改善所推动，抵消了北美重/中型卡车 销售疲软的影响。 电力系统业务营收同比增长11%至19亿美元，主要受益于数据中心备用电力需求增长及有利的定价环 境。 分销业务营收同比增长7%至33亿美元，得益于有利的发电业务结构组合以及韧性十足的后市场活动。 零部件业务销售额同比下降7%至24亿美元，主要受公路运输行业周期下行影响，其国际销售额因欧洲 和中国需求增强而增长4%。 发动机销售额下降4%至26亿美元，受北美需求疲弱拖累，但皮卡销量部分抵消了这一影响。 电力系统业务营收同比增长11%至19亿美元，主要受益于数据中心备用电力需求增长及有利的定价环 境。 分销业务营收同比增长7%至33亿美元，得益于有利的发电业务结构组合以及韧性十足的后市场活动。 零部件 ...

Cummins Inc. ( CMI ) just reported its Q4 and full-year results , which were kind of mixed when looking at the headline numbers; however, what the headlines missed were the massive cash flow generation thatMSc in Finance. Long-term horizon investor mostly with 5-10 year horizon. I like to keep investing simple. I believe a portfolio should consist of a mix of growth, value, and dividend-paying stocks but usually end up looking for value more than anything. I also sell options from time to time.Analyst’s Dis ...

Cummins Inc. ( CMI ) just reported its Q4 and full-year results , which were kind of mixed when looking at the headline numbers; however, what the headlines missed were the massive cash flow generation thatMSc in Finance. Long-term horizon investor mostly with 5-10 year horizon. I like to keep investing simple. I believe a portfolio should consist of a mix of growth, value, and dividend-paying stocks but usually end up looking for value more than anything. I also sell options from time to time.Analyst’s Dis ...

PresentationUnknown Analyst Hello, and welcome to virtual investor conferences. On behalf of OTC Markets, we're very pleased you have joined us for our Small Cap Growth Conference. Our next presentation of the day is from C-COM Satellite Systems. Please note, you may submit questions for the presenter in the box to the left of the slides. You can also view your company's availability for a one-on-one meeting by clicking Book a Meeting in the top tool bar. At this point, I'm very pleased to welcome Dr. Lesl ...

Key Takeaways CMI posted Q4 2025 EPS of $5.81, beating estimates, as revenues climbed to $8.53B from a year ago.CMI saw Power Systems sales up 11% and EBITDA margin expands to 21.7%, driving the earnings outperformance.CMI's Distribution growth offset declines in Engine and Components, while Accelera posted a wider EBITDA loss.Cummins Inc. (CMI) reported fourth-quarter 2025 earnings of $5.81 per share, which surpassed the Zacks Consensus Estimate of $5.20 and increased from $5.16 recorded in the correspondi ...

Cummins (NYSE:CMI) Q4 2025 Earnings call February 05, 2026 10:00 AM ET Company ParticipantsAngel Castillo - Executive DirectorDavid Raso - Senior Managing DirectorJamie Cook - Managing DirectorJennifer Rumsey - Chair and CEOJerry Revich - Managing DirectorKyle Menges - VP, Equity ResearchMark Smith - CFONick Arens - Head of Investor RelationsSteven Fisher - Managing DirectorTim Thein - Managing DirectorConference Call ParticipantsChad Dillard - Senior AnalystNoah Kaye - Senior Research AnalystRob Wertheimer ...