CMI vs. GD: Cummins vs. General Dynamics Stock Comparison

November 11, 2026

How do Cummins (CMI) and General Dynamics (GD) 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 General Dynamics (GD) both fall under the Capital Goods industry group, but CMI is classified in Machinery while GD is classified in Aerospace & Defense.

Company profile comparison for Cummins (CMI) and General Dynamics (GD)
Profile Item	CMI	GD
Name	Cummins Inc.	General Dynamics Corp.
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Machinery	Aerospace & Defense
GICS Sub-Industry	Construction Machinery & Heavy Transportation Equipment	Aerospace & Defense
Market Capitalization	61.69 billion USD	95.68 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	February 21, 1973	January 2, 1962
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CMI

GSPC

Cummins (CMI) vs. General Dynamics (GD), 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 General Dynamics (GD). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Cummins (CMI) and General Dynamics (GD)
Metric	CMI	GD
Total Return (1Y)	-0.52%	6.52%
Total Return (3Y, Annualized)	31.79%	16.95%
Total Return (5Y, Annualized)	17.12%	14.65%

Risk Profile

Drawdown History

CMI

GSPC

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

Risk Metrics

Risk profile metrics for Cummins (CMI) and General Dynamics (GD)
Metric	CMI	GD
Volatility (1Y, Annualized)	36.83%	23.03%
Beta (5Y)	1.26	0.30
Max Drawdown (5Y)	-38.12%	-22.55%
Avg. Volume (3M)	1.14M	1.19M

Risk-Adjusted Performance

Risk-Return Positioning

CMI and GD 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 General Dynamics (GD)
Metric	CMI	GD
Sharpe Ratio (1Y)	-0.13	0.10
Sortino Ratio (1Y)	-0.18	0.15

Profitability

ROE (TTM)

Cummins (CMI) at 25.05% sits in the top ROE quartile, while General Dynamics (GD) at 18.01% is closer to the peer norm — stronger capital efficiency for CMI.

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%

GD

Capital Goods industry group

18.01%

Max: 40.55%
Q3: 19.29%
GD: 18.01%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

Cummins (CMI) vs. General Dynamics (GD): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

Both Cummins (CMI) at 9.26% and General Dynamics (GD) at 8.24% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

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%

GD

Capital Goods industry group

8.24%

Max: 27.47%
Q3: 12.10%
GD: 8.24%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

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

Operating Margin (TTM)

Both Cummins (CMI) at 13.95% and General Dynamics (GD) at 10.49% 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%

GD

Capital Goods industry group

10.49%

Max: 36.60%
Q3: 18.33%
Median: 11.12%
GD: 10.49%
Q1: 5.14%
Min: -12.63%

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

Profitability Metrics

Profitability metrics for Cummins (CMI) and General Dynamics (GD)
Metric	CMI	GD
ROE (TTM)	25.05%	18.01%
ROA (TTM)	7.60%	6.23%
Net Margin (TTM)	9.26%	8.24%
Operating Margin (TTM)	13.95%	10.49%
Gross Margin (TTM)	26.32%	15.42%

Growth

Revenue Growth

General Dynamics (GD) at 10.13% 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. General Dynamics (GD): A comparison of their Revenue Growth across different time periods.

EPS Growth

General Dynamics (GD) at 13.35% 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. General Dynamics (GD): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Cummins (CMI) and General Dynamics (GD)
Metric	CMI	GD
Revenue Growth (YoY)	-1.27%	10.13%
Revenue Growth (3Y CAGR)	6.25%	10.07%
EPS Growth (YoY)	-27.74%	13.35%
EPS Growth (3Y CAGR)	10.68%	8.22%

Financial Strength

Current Ratio (MRQ)

Cummins (CMI) at 1.74 keeps current ratio within its industry’s typical mid-range, while General Dynamics (GD) at 1.43 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for GD.

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

GD

Capital Goods industry group

1.43

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
GD: 1.43
Min: 0.36

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

Debt / Equity (MRQ)

Both Cummins (CMI) at 0.52 and General Dynamics (GD) at 0.33 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

GD

Capital Goods industry group

0.33

Max: 2.33
Q3: 1.12
Median: 0.60
GD: 0.33
Q1: 0.29
Min: 0.00

Cummins (CMI) vs. General Dynamics (GD): 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 General Dynamics (GD)
Metric	CMI	GD
Current Ratio (MRQ)	1.74	1.43
Debt / Equity (MRQ)	0.52	0.33
Net Debt / EBITDA	0.62	0.68

Dividends

Dividend Yield (TTM)

Both Cummins (CMI) at 1.83% and General Dynamics (GD) at 1.76% 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%

GD

Capital Goods industry group

1.76%

Max: 2.66%
GD: 1.76%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Both Cummins (CMI) at 34.21% and General Dynamics (GD) at 36.90% 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%

GD

Capital Goods industry group

36.90%

Max: 67.39%
GD: 36.90%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Cummins (CMI) and General Dynamics (GD)
Metric	CMI	GD
Dividend Yield (TTM)	1.83%	1.76%
Dividend Payout Ratio (TTM)	34.21%	36.90%

Valuation

P/E Ratio (TTM)

Cummins (CMI) at 18.78 sits in the cheaper P/E ratio quartile, while General Dynamics (GD) at 20.84 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

GD

Capital Goods industry group

20.84

Max: 59.38
Q3: 35.92
Median: 25.41
GD: 20.84
Q1: 19.47
Min: 3.03

Cummins (CMI) vs. General Dynamics (GD): 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 General Dynamics (GD) at 1.69 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

GD

Capital Goods industry group

1.69

Max: 7.54
Q3: 3.76
Median: 2.15
GD: 1.69
Q1: 1.03
Min: 0.03

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

P/B Ratio (MRQ)

On P/B ratio, both Cummins (CMI) at 4.63 and General Dynamics (GD) at 3.50 are valued close to their industries’ norm against book — neither stands out from peers.

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

GD

Capital Goods industry group

3.50

Max: 9.66
Q3: 5.00
GD: 3.50
Median: 3.12
Q1: 1.81
Min: -1.08

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

Valuation Metrics

Valuation metrics for Cummins (CMI) and General Dynamics (GD)
Metric	CMI	GD
P/E Ratio (TTM)	18.78	20.84
P/S Ratio (TTM)	1.72	1.69
P/B Ratio (MRQ)	4.63	3.50
Free Cash Flow Yield (TTM)	4.06%	4.76%