CMI vs. ETN: Cummins vs. Eaton Stock Comparison

November 11, 2026

How do Cummins (CMI) and Eaton (ETN) 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 Eaton (ETN) both fall under the Capital Goods industry group, but CMI is classified in Machinery while ETN is classified in Electrical Equipment.

Company profile comparison for Cummins (CMI) and Eaton (ETN)
Profile Item	CMI	ETN
Name	Cummins Inc.	Eaton Corporation plc
Country/Region	United States	Ireland
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Machinery	Electrical Equipment
GICS Sub-Industry	Construction Machinery & Heavy Transportation Equipment	Electrical Components & Equipment
Market Capitalization	61.69 billion USD	132.76 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	February 21, 1973	June 1, 1972
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CMI

ETN

GSPC

Cummins (CMI) vs. Eaton (ETN), 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 Eaton (ETN). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Cummins (CMI) and Eaton (ETN)
Metric	CMI	ETN
Total Return (1Y)	-0.52%	-2.33%
Total Return (3Y, Annualized)	31.79%	19.68%
Total Return (5Y, Annualized)	17.12%	17.50%

Risk Profile

Drawdown History

CMI

ETN

GSPC

Cummins (CMI) vs. Eaton (ETN), 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 Eaton (ETN). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Cummins (CMI) and Eaton (ETN)
Metric	CMI	ETN
Volatility (1Y, Annualized)	36.83%	43.57%
Beta (5Y)	1.26	1.14
Max Drawdown (5Y)	-38.12%	-34.46%
Avg. Volume (3M)	1.14M	2.32M

Risk-Adjusted Performance

Risk-Return Positioning

CMI and ETN 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 Eaton (ETN)
Metric	CMI	ETN
Sharpe Ratio (1Y)	-0.13	-0.15
Sortino Ratio (1Y)	-0.18	-0.21

Profitability

ROE (TTM)

Both Cummins (CMI) at 25.05% and Eaton (ETN) at 19.55% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

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%

ETN

Capital Goods industry group

19.55%

Max: 40.55%
ETN: 19.55%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

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

Net Margin (TTM)

Eaton (ETN) at 12.18% 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%

ETN

Capital Goods industry group

12.18%

Max: 27.47%
ETN: 12.18%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

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

Operating Margin (TTM)

Both Cummins (CMI) at 13.95% and Eaton (ETN) at 17.85% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

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%

ETN

Capital Goods industry group

17.85%

Max: 36.60%
Q3: 18.33%
ETN: 17.85%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

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

Profitability Metrics

Profitability metrics for Cummins (CMI) and Eaton (ETN)
Metric	CMI	ETN
ROE (TTM)	25.05%	19.55%
ROA (TTM)	7.60%	7.22%
Net Margin (TTM)	9.26%	12.18%
Operating Margin (TTM)	13.95%	17.85%
Gross Margin (TTM)	26.32%	35.16%

Growth

Revenue Growth

Eaton (ETN) at 10.33% is around its peer norm for revenue growth, while Cummins (CMI) at -1.27% drops into the bottom quartile, signaling weaker demand or pricing momentum.

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

EPS Growth

Eaton (ETN) at 10.00% is around its peer norm for EPS growth, while Cummins (CMI) at -27.74% drops into the bottom quartile, signaling weaker earnings momentum.

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

Growth Metrics

Growth metrics for Cummins (CMI) and Eaton (ETN)
Metric	CMI	ETN
Revenue Growth (YoY)	-1.27%	10.33%
Revenue Growth (3Y CAGR)	6.25%	9.77%
EPS Growth (YoY)	-27.74%	10.00%
EPS Growth (3Y CAGR)	10.68%	19.39%

Financial Strength

Current Ratio (MRQ)

Cummins (CMI) at 1.74 keeps current ratio within its industry’s typical mid-range, while Eaton (ETN) at 1.23 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for ETN.

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

ETN

Capital Goods industry group

1.23

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
ETN: 1.23
Min: 0.36

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

Debt / Equity (MRQ)

Both Cummins (CMI) at 0.52 and Eaton (ETN) at 1.00 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

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

ETN

Capital Goods industry group

1.00

Max: 2.33
Q3: 1.12
ETN: 1.00
Median: 0.60
Q1: 0.29
Min: 0.00

Cummins (CMI) vs. Eaton (ETN): 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 Eaton (ETN)
Metric	CMI	ETN
Current Ratio (MRQ)	1.74	1.23
Debt / Equity (MRQ)	0.52	1.00
Net Debt / EBITDA	0.62	2.85

Dividends

Dividend Yield (TTM)

Both Cummins (CMI) at 1.83% and Eaton (ETN) at 1.33% 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%

ETN

Capital Goods industry group

1.33%

Max: 2.66%
ETN: 1.33%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Both Cummins (CMI) at 34.21% and Eaton (ETN) at 43.36% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

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%

ETN

Capital Goods industry group

43.36%

Max: 67.39%
ETN: 43.36%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Cummins (CMI) and Eaton (ETN)
Metric	CMI	ETN
Dividend Yield (TTM)	1.83%	1.33%
Dividend Payout Ratio (TTM)	34.21%	43.36%

Valuation

P/E Ratio (TTM)

Cummins (CMI) at 18.78 sits in the cheaper P/E ratio quartile, while Eaton (ETN) at 34.14 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

ETN

Capital Goods industry group

34.14

Max: 59.38
Q3: 35.92
ETN: 34.14
Median: 25.41
Q1: 19.47
Min: 3.03

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

P/S Ratio (TTM)

Cummins (CMI) at 1.72 is priced about in line with its industry on P/S ratio, while Eaton (ETN) at 4.15 sits in the pricier quartile — ETN costs more per dollar of sales.

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

ETN

Capital Goods industry group

4.15

Max: 7.54
ETN: 4.15
Q3: 3.76
Median: 2.15
Q1: 1.03
Min: 0.03

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

P/B Ratio (MRQ)

Cummins (CMI) at 4.63 is valued about in line with its industry on P/B ratio, while Eaton (ETN) at 6.33 carries an above-peer premium to book — ETN is pricier on assets.

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

ETN

Capital Goods industry group

6.33

Max: 9.66
ETN: 6.33
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

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

Valuation Metrics

Valuation metrics for Cummins (CMI) and Eaton (ETN)
Metric	CMI	ETN
P/E Ratio (TTM)	18.78	34.14
P/S Ratio (TTM)	1.72	4.15
P/B Ratio (MRQ)	4.63	6.33
Free Cash Flow Yield (TTM)	4.06%	2.29%