CMI vs. CSL: Cummins vs. Carlisle Stock Comparison

November 11, 2026

How do Cummins (CMI) and Carlisle (CSL) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Cummins (CMI) and Carlisle (CSL) both fall under the Capital Goods industry group, but CMI is classified in Machinery while CSL is classified in Building Products.

Company profile comparison for Cummins (CMI) and Carlisle (CSL)
Profile Item	CMI	CSL
Name	Cummins Inc.	Carlisle Companies Incorporated
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Machinery	Building Products
GICS Sub-Industry	Construction Machinery & Heavy Transportation Equipment	Building Products
Market Capitalization	61.69 billion USD	14.52 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	February 21, 1973	February 21, 1973
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CMI

CSL

GSPC

Cummins (CMI) vs. Carlisle (CSL), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Cummins (CMI) and Carlisle (CSL). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Cummins (CMI) and Carlisle (CSL). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Cummins (CMI) and Carlisle (CSL)
Metric	CMI	CSL
Total Return (1Y)	-0.52%	24.99%
Total Return (3Y, Annualized)	31.79%	15.85%
Total Return (5Y, Annualized)	17.12%	12.02%

Risk Profile

Drawdown History

CMI

CSL

GSPC

Cummins (CMI) vs. Carlisle (CSL), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Cummins (CMI) and Carlisle (CSL). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Cummins (CMI) and Carlisle (CSL)
Metric	CMI	CSL
Volatility (1Y, Annualized)	36.83%	38.46%
Beta (5Y)	1.26	0.76
Max Drawdown (5Y)	-38.12%	-37.72%
Avg. Volume (3M)	1.14M	509.16K

Risk-Adjusted Performance

Risk-Return Positioning

CMI and CSL are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Cummins (CMI) and Carlisle (CSL)
Metric	CMI	CSL
Sharpe Ratio (1Y)	-0.13	0.54
Sortino Ratio (1Y)	-0.18	0.87

Profitability

ROE (TTM)

Both companies show strong equity returns, but Carlisle (CSL) at 42.34% is the standout with ROE above its industry range; Cummins (CMI) at 25.05% also sits in the top quartile.

CMI

Capital Goods industry group

25.05%

Max: 40.55%
CMI: 25.05%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

CSL

Capital Goods industry group

42.34%

CSL: 42.34%
Max: 40.55%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

Cummins (CMI) vs. Carlisle (CSL): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

Carlisle (CSL) at 13.78% retains a top-quartile share of revenue as profit, ahead of Cummins (CMI) at 9.26%, which keeps about the industry-typical share.

CMI

Capital Goods industry group

9.26%

Max: 27.47%
Q3: 12.10%
CMI: 9.26%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

CSL

Capital Goods industry group

13.78%

Max: 27.47%
CSL: 13.78%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

Cummins (CMI) vs. Carlisle (CSL): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Carlisle (CSL) at 20.21% operates in the top operating margin quartile, ahead of Cummins (CMI) at 13.95%, which runs around its industry’s norm.

CMI

Capital Goods industry group

13.95%

Max: 36.60%
Q3: 18.33%
CMI: 13.95%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

CSL

Capital Goods industry group

20.21%

Max: 36.60%
CSL: 20.21%
Q3: 18.33%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

Cummins (CMI) vs. Carlisle (CSL): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Cummins (CMI) and Carlisle (CSL)
Metric	CMI	CSL
ROE (TTM)	25.05%	42.34%
ROA (TTM)	7.60%	10.20%
Net Margin (TTM)	9.26%	13.78%
Operating Margin (TTM)	13.95%	20.21%
Gross Margin (TTM)	26.32%	34.66%

Growth

Revenue Growth

Both Cummins (CMI) at -1.27% and Carlisle (CSL) at 0.33% post bottom-quartile revenue growth versus peers, pointing to weaker demand or pricing momentum than typical rivals.

Cummins (CMI) vs. Carlisle (CSL): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Cummins (CMI) at -27.74% and Carlisle (CSL) at -38.46% post bottom-quartile EPS growth versus peers, pointing to weaker earnings momentum than typical rivals.

Cummins (CMI) vs. Carlisle (CSL): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Cummins (CMI) and Carlisle (CSL)
Metric	CMI	CSL
Revenue Growth (YoY)	-1.27%	0.33%
Revenue Growth (3Y CAGR)	6.25%	-2.70%
EPS Growth (YoY)	-27.74%	-38.46%
EPS Growth (3Y CAGR)	10.68%	-0.84%

Financial Strength

Current Ratio (MRQ)

Both Cummins (CMI) at 1.74 and Carlisle (CSL) at 2.41 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

CMI

Capital Goods industry group

1.74

Max: 5.22
Q3: 2.95
Median: 2.08
CMI: 1.74
Q1: 1.43
Min: 0.36

CSL

Capital Goods industry group

2.41

Max: 5.22
Q3: 2.95
CSL: 2.41
Median: 2.08
Q1: 1.43
Min: 0.36

Cummins (CMI) vs. Carlisle (CSL): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Cummins (CMI) at 0.52 carries an industry-typical debt-to-equity mix, while Carlisle (CSL) at 2.01 uses more debt funding than most peers.

CMI

Capital Goods industry group

0.52

Max: 2.33
Q3: 1.12
Median: 0.60
CMI: 0.52
Q1: 0.29
Min: 0.00

CSL

Capital Goods industry group

2.01

Max: 2.33
CSL: 2.01
Q3: 1.12
Median: 0.60
Q1: 0.29
Min: 0.00

Cummins (CMI) vs. Carlisle (CSL): A comparison of their debt-to-equity ratio against the Capital Goods industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Cummins (CMI) and Carlisle (CSL)
Metric	CMI	CSL
Current Ratio (MRQ)	1.74	2.41
Debt / Equity (MRQ)	0.52	2.01
Net Debt / EBITDA	0.62	1.93

Dividends

Dividend Yield (TTM)

Both Cummins (CMI) at 1.83% and Carlisle (CSL) at 1.20% offer top-quartile dividend income relative to share price within their industries.

CMI

Capital Goods industry group

1.83%

Max: 2.66%
CMI: 1.83%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

CSL

Capital Goods industry group

1.20%

Max: 2.66%
CSL: 1.20%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

Cummins (CMI) vs. Carlisle (CSL): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Carlisle (CSL) at 25.50% pays out a band-typical share of earnings, while Cummins (CMI) at 34.21% distributes more than its industry norm — less retained, thinner cover.

CMI

Capital Goods industry group

34.21%

Max: 67.39%
CMI: 34.21%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

CSL

Capital Goods industry group

25.50%

Max: 67.39%
Q3: 28.02%
CSL: 25.50%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

Cummins (CMI) vs. Carlisle (CSL): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Cummins (CMI) and Carlisle (CSL)
Metric	CMI	CSL
Dividend Yield (TTM)	1.83%	1.20%
Dividend Payout Ratio (TTM)	34.21%	25.50%

Valuation

P/E Ratio (TTM)

Cummins (CMI) at 18.78 sits in the cheaper P/E ratio quartile, while Carlisle (CSL) at 21.06 is closer to its industry’s usual earnings multiple — a discount for CMI, though growth and earnings durability still matter.

CMI

Capital Goods industry group

18.78

Max: 59.38
Q3: 35.92
Median: 25.41
Q1: 19.47
CMI: 18.78
Min: 3.03

CSL

Capital Goods industry group

21.06

Max: 59.38
Q3: 35.92
Median: 25.41
CSL: 21.06
Q1: 19.47
Min: 3.03

Cummins (CMI) vs. Carlisle (CSL): A comparison of their P/E ratio against the Capital Goods industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Cummins (CMI) at 1.72 and Carlisle (CSL) at 2.79 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

CMI

Capital Goods industry group

1.72

Max: 7.54
Q3: 3.76
Median: 2.15
CMI: 1.72
Q1: 1.03
Min: 0.03

CSL

Capital Goods industry group

2.79

Max: 7.54
Q3: 3.76
CSL: 2.79
Median: 2.15
Q1: 1.03
Min: 0.03

Cummins (CMI) vs. Carlisle (CSL): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

Cummins (CMI) at 4.63 sits near its industry’s typical P/B ratio, while Carlisle (CSL) at 10.11 prices above its benchmark range — CSL looks rich relative to book.

CMI

Capital Goods industry group

4.63

Max: 9.66
Q3: 5.00
CMI: 4.63
Median: 3.12
Q1: 1.81
Min: -1.08

CSL

Capital Goods industry group

10.11

CSL: 10.11
Max: 9.66
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

Cummins (CMI) vs. Carlisle (CSL): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Cummins (CMI) and Carlisle (CSL)
Metric	CMI	CSL
P/E Ratio (TTM)	18.78	21.06
P/S Ratio (TTM)	1.72	2.79
P/B Ratio (MRQ)	4.63	10.11
Free Cash Flow Yield (TTM)	4.06%	4.01%