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Intrinsic value of Cummins Inc. (CMI)

Previous Close$197.31
Intrinsic Value
Upside potential
Previous Close
$197.31

VALUATION INPUT DATA

Revenue, mln $
Initial revenue growth rate (norm.), %
Variable cost ratio, %
Fixed operating expenses, mln $
Production assets / Revenue, %
Working capital / Revenue, %
Interest rate on debt, %
Initial discount rate, %
Shares outstanding, mln
Adjusted equity ratio
Adjusted assets / Revenue
Cash & ST Investments
Total debt
Market cap, m$
28,117

Based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %21.3NaN
Revenue, $24021NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m21315NaN
Operating income, $m2706NaN
EBITDA, $m3365NaN
Interest expense (income), $mNaN
Earnings before tax, $m2718NaN
Tax expense, $m587NaN
Net income, $m2131NaN

BALANCE SHEET

Cash and short-term investments, $m3187NaN
Total assets, $m23710NaN
Adjusted assets (=assets-cash), $m20523NaN
Average production assets, $m7001NaN
Working capital, $m5225NaN
Total debt, $m4613NaN
Total liabilities, $m15236NaN
Total equity, $m8474NaN
Debt-to-equity ratio0.544NaN
Adjusted equity ratio0.292NaN

CASH FLOW

Net income, $m2131NaN
Depreciation, amort., depletion, $m659NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m2256NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-714NaN
Free cash flow, $m2970NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m5225
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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