CMI vs ROK: Cummins and Rockwell Automation compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Cummins is the larger company, worth $70.1B, about 1.5 times Rockwell Automation.
- Cummins grew revenue faster over the last year (+9.4% vs +7.9%).
- Rockwell Automation keeps more of each dollar of revenue as operating profit (22.7% vs 11.2%).
- On earnings, Cummins is the cheaper stock (26.4x vs 43.0x).
- Rockwell Automation's price assumes faster free cash flow growth: about 12% a year, against 10% for Cummins (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | CMI | ROK |
|---|---|---|
| Market cap | $70.1B | $46.2B |
| Share price | $517.32 | $432.59 |
| Revenue (last fiscal year) | $33.7B | $8.3B |
| Free cash flow (last fiscal year) | $2.4B | $1.4B |
| Revenue growth, last year | +9.4% | +7.9% |
| Revenue growth per year, last 5 fiscal years | +8.8% | +4.5% |
| Operating margin | 11.2% | 22.7% |
| Net margin | 7.8% | 13.4% |
| Return on equity | 21.1% | 34.4% |
| P/E (trailing) | 26.4x | 43.0x |
| Price / free cash flow | 29.4x | 34.0x |
| EV / EBITDA | 13.8x | 28.0x |
| FCF growth the price implies | 10.0% | 11.9% |
| Dividend yield | 1.5% | 1.3% |
| Debt / equity | 1.69x | 2.17x |
| Fundamental grade | C | C |
| Superinvestors holding it | 7 | 6 |
| Insider purchases, last 12 months | 6 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Cummins
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $24.0B | $1.5B | 11.3% |
| 2022 | $28.1B | $1.0B | 10.4% |
| 2023 | $34.1B | $2.8B | 5.2% |
| 2024 | $34.1B | $279M | 11.0% |
| 2025 | $33.7B | $2.4B | 12.0% |
Rockwell Automation
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $7.0B | $1.1B | — |
| 2022 | $7.8B | $682M | — |
| 2023 | $9.1B | $1.2B | 21.3% |
| 2024 | $8.3B | $639M | 19.3% |
| 2025 | $8.3B | $1.4B | 20.4% |
Where the revenue comes from
Cummins · by segments, 2021
Engine$10.0B33%
Distribution$7.8B26%
Components$7.7B26%
Power Systems$4.4B15%
New Power$116M0%
Rockwell Automation · by segments, 2025
Intelligent Devices$3.8B45%
Software & Control$2.4B29%
Lifecycle Services$2.2B26%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open CMI in InvestinglyQuestions
Which is bigger, Cummins or Rockwell Automation?
Cummins (CMI), at $70.1B against $46.2B.
Is CMI or ROK cheaper?
By trailing P/E, Cummins (26.4x) is cheaper than Rockwell Automation (43.0x). A lower multiple can also mean the market expects less growth.
Which grows faster, CMI or ROK?
Cummins: revenue grew +9.4% over the last year, against +7.9%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.