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CMI vs. MAIR: Cummins vs. Madison Air Stock Comparison

How do Cummins (CMI) and Madison Air (MAIR) 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 Madison Air (MAIR) both fall under the Capital Goods industry group, but CMI is classified in Machinery while MAIR is classified in Building Products.

Cummins (CMI) has been public since February 21, 1973, giving it decades of market history across multiple cycles, while Madison Air (MAIR) listed only on April 16, 2026 and lacks comparable through-cycle data.

Company profile comparison for Cummins (CMI) and Madison Air (MAIR)
Profile ItemCMIMAIR
NameCummins Inc.Madison Air Solutions Corporation Class A Common Stock
Country/RegionUnited StatesUnited States
GICS SectorIndustrialsIndustrials
GICS Industry GroupCapital GoodsCapital Goods
GICS IndustryMachineryBuilding Products
GICS Sub-IndustryConstruction Machinery & Heavy Transportation EquipmentBuilding Products
Market Capitalization61.69 billion USD11.56 billion USD
CurrencyUSDUSD
ExchangeNYSENYSE
Listing DateFebruary 21, 1973April 16, 2026
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

CMI
MAIR
GSPC
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Cummins (CMI) vs. Madison Air (MAIR), 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 Madison Air (MAIR). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Cummins (CMI) and Madison Air (MAIR)
MetricCMIMAIR
Total Return (1Y)-0.52%--
Total Return (3Y, Annualized)31.79%--
Total Return (5Y, Annualized)17.12%--

Risk Profile

Drawdown History

CMI
MAIR
GSPC
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Cummins (CMI) vs. Madison Air (MAIR), 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 Madison Air (MAIR). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Cummins (CMI) and Madison Air (MAIR)
MetricCMIMAIR
Volatility (1Y, Annualized)36.83%57.10%
Beta (5Y)1.261.60
Max Drawdown (5Y)-38.12%-51.16%
Avg. Volume (3M)1.14M2.60M

Risk-Adjusted Performance

Risk-Return Positioning

Both CMI and MAIR need 1-year volatility and 1-year return to plot risk-return positioning.

Risk-Adjusted Metrics

Risk-adjusted metrics for Cummins (CMI) and Madison Air (MAIR)
MetricCMIMAIR
Sharpe Ratio (1Y)-0.13--
Sortino Ratio (1Y)-0.18--

Profitability

ROE (TTM)

Capital efficiency shows on one side only: Cummins (CMI) earns 25.05% on shareholders’ equity, ranked against its industry; Madison Air (MAIR) has no ROE this period.

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%

MAIR

Capital Goods industry group

--

Max
40.55%
Q3
19.29%
Median
12.12%
Q1
4.08%
Min
-17.12%
MAIR
--
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Cummins (CMI) vs. Madison Air (MAIR): MAIR does not report ROE, so it has no value marker; CMI is benchmarked against the Capital Goods industry group.

Net Margin (TTM)

Both Cummins (CMI) at 9.26% and Madison Air (MAIR) at 3.73% 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%

MAIR

Capital Goods industry group

3.73%

Max
27.47%
Q3
12.10%
Median
6.30%
MAIR
3.73%
Q1
1.40%
Min
-12.89%
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Cummins (CMI) vs. Madison Air (MAIR): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Madison Air (MAIR) at 19.76% 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%

MAIR

Capital Goods industry group

19.76%

Max
36.60%
MAIR
19.76%
Q3
18.33%
Median
11.12%
Q1
5.14%
Min
-12.63%
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Cummins (CMI) vs. Madison Air (MAIR): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Cummins (CMI) and Madison Air (MAIR)
MetricCMIMAIR
ROE (TTM)25.05%--
ROA (TTM)7.60%--
Net Margin (TTM)9.26%3.73%
Operating Margin (TTM)13.95%19.76%
Gross Margin (TTM)26.32%39.06%

Growth

Revenue Growth

Madison Air (MAIR) at 34.07% sits in the top revenue growth quartile, while Cummins (CMI) at -1.27% is in the bottom quartile, showing a clear gap in revenue momentum.

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Cummins (CMI) vs. Madison Air (MAIR): A comparison of their Revenue Growth across different time periods.

EPS Growth

Madison Air (MAIR) at -2.32% is around its peer norm for EPS growth, while Cummins (CMI) at -27.74% drops into the bottom quartile, signaling weaker earnings momentum.

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Cummins (CMI) vs. Madison Air (MAIR): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Cummins (CMI) and Madison Air (MAIR)
MetricCMIMAIR
Revenue Growth (YoY)-1.27%34.07%
Revenue Growth (3Y CAGR)6.25%--
EPS Growth (YoY)-27.74%-2.32%
EPS Growth (3Y CAGR)10.68%--

Financial Strength

Current Ratio (MRQ)

Both Cummins (CMI) at 1.74 and Madison Air (MAIR) at 1.82 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

MAIR

Capital Goods industry group

1.82

Max
5.22
Q3
2.95
Median
2.08
MAIR
1.82
Q1
1.43
Min
0.36
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Cummins (CMI) vs. Madison Air (MAIR): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Both Cummins (CMI) at 0.52 and Madison Air (MAIR) at 0.87 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

MAIR

Capital Goods industry group

0.87

Max
2.33
Q3
1.12
MAIR
0.87
Median
0.60
Q1
0.29
Min
0.00
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Cummins (CMI) vs. Madison Air (MAIR): 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 Madison Air (MAIR)
MetricCMIMAIR
Current Ratio (MRQ)1.741.82
Debt / Equity (MRQ)0.520.87
Net Debt / EBITDA0.623.37

Dividends

Dividend Yield (TTM)

Madison Air (MAIR) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Cummins (CMI) reports a yield of 1.83%, ranking against industry peers normally.

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%

MAIR

Capital Goods industry group

0.00%

Max
2.66%
Q3
1.14%
Median
0.24%
MAIR
0.00%
Q1
0.00%
Min
0.00%
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Cummins (CMI) vs. Madison Air (MAIR): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Madison Air (MAIR) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Cummins (CMI) reports a payout of 34.21%, ranking against industry peers normally.

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%

MAIR

Capital Goods industry group

0.00%

Max
67.39%
Q3
28.02%
Median
6.86%
MAIR
0.00%
Q1
0.00%
Min
0.00%
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Cummins (CMI) vs. Madison Air (MAIR): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Cummins (CMI) and Madison Air (MAIR)
MetricCMIMAIR
Dividend Yield (TTM)1.83%0.00%
Dividend Payout Ratio (TTM)34.21%0.00%

Valuation

P/E Ratio (TTM)

Cummins (CMI) at 18.78 sits in the cheaper P/E ratio quartile, while Madison Air (MAIR) at 164.57 trades above its peer range — a wide earnings-valuation gap relative to industry peers.

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

MAIR

Capital Goods industry group

164.57

MAIR
164.57
Max
59.38
Q3
35.92
Median
25.41
Q1
19.47
Min
3.03
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Cummins (CMI) vs. Madison Air (MAIR): 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 Madison Air (MAIR) at 3.09 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

MAIR

Capital Goods industry group

3.09

Max
7.54
Q3
3.76
MAIR
3.09
Median
2.15
Q1
1.03
Min
0.03
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Cummins (CMI) vs. Madison Air (MAIR): 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 Madison Air (MAIR) at 3.17 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

MAIR

Capital Goods industry group

3.17

Max
9.66
Q3
5.00
MAIR
3.17
Median
3.12
Q1
1.81
Min
-1.08
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Cummins (CMI) vs. Madison Air (MAIR): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Cummins (CMI) and Madison Air (MAIR)
MetricCMIMAIR
P/E Ratio (TTM)18.78164.57
P/S Ratio (TTM)1.723.09
P/B Ratio (MRQ)4.633.17
Free Cash Flow Yield (TTM)4.06%--