Cummins Inc. (CMI)
Cummins makes diesel and alternative-fuel engines, power generation, and related components.
Industrials stock comparison
CMI vs HON: how the two businesses compare
- Bigger business: HON, with $37.4B of yearly revenue, about 1.1× CMI's $33.7B.
- More cash from each sale: HON turns 17 cents of each sales dollar into operating cash flow, against 11 cents at CMI.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Honeywell International (HON) is the larger business by reported revenue: $37.4B in its fiscal year ended Dec 2025, about 1.1× CMI's $33.7B (fiscal year ended Dec 2025). The SEC classifies them differently (Engines & Turbines; Aircraft Engines & Engine Parts); what connects them is shared exposure to the Economic trends research theme, not a common industry.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Sector
- Industrials
- SEC industry
- Different
- Separate classifications
- Fiscal year ends
- December 31
- Same calendar
- Reviewed
- Feb 17, 2026
CMI vs HON: quick comparison
| Company fact | CMI | HON |
|---|---|---|
| Company | Cummins Inc. | Honeywell International Inc. |
| Exchange | NYSE | NASDAQ |
| Headquarters | — | Charlotte, North Carolina |
| Founded | — | 1906 |
| SEC industry | Engines & Turbines | Aircraft Engines & Engine Parts |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-10 | 10-K · 2026-02-17 |
CMI vs HON: audited financials
- Scale: HON's $37.4B of revenue is about 1.1× CMI's $33.7B.
- Cash conversion: operating cash flow equalled CMI 10.8% of revenue; HON 17.1% of revenue, or 1.36× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: both fiscal years end on 2025-12-31, so these annual figures cover the same months.
| Metric | CMI | HON |
|---|---|---|
| Revenue | $33.7B2025-01-01 to 2025-12-31 · SEC filing | $37.4B2025-01-01 to 2025-12-31 · SEC filing |
| Net income | — | $4.7B2025-01-01 to 2025-12-31 · SEC filing |
| Operating cash flow | $3.6B2025-01-01 to 2025-12-31 · SEC filing | $6.4B2025-01-01 to 2025-12-31 · SEC filing |
| Diluted EPS | $20.502025-01-01 to 2025-12-31 · SEC filing | $7.362025-01-01 to 2025-12-31 · SEC filing |
| Net margin | — | 12.6%2025-01-01 to 2025-12-31 · SEC filing |
CMI: FY ending 2025-12-31 · HON: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where CMI and HON overlap, and where they don't
Overlap
- Shared research theme: Economic trends.
- Same fiscal calendar: both fiscal years end December 31.
Differences
- Different SEC industries: CMI files as Engines & Turbines; HON as Aircraft Engines & Engine Parts.
- Only CMI maps to Tariffs & trade.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Honeywell International Inc. (HON)
Honeywell is a diversified industrial company spanning aerospace, building automation, performance materials, and safety technology. Its software-driven automation offerings tie its many end markets together.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves CMI
We have not yet published a company-specific driver list for CMI. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-10.
What moves HON
We have not yet published a company-specific driver list for HON. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-17.
The investment question
You now know HON reports about 1.1× CMI's revenue. Those are the facts. The investment question is what each share price already assumes about their exposure to economic trends, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. Both fiscal years end December 31, so annual reports line up, but check segment definitions before comparing growth or margins.
The current verified House and Senate snapshot contains 11 matched transaction rows for CMI and 26 matched transaction rows for HON. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
CMI primary filings
HON primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving CMI or HON
CMI vs HON FAQs
Are CMI and HON direct competitors?
Not necessarily. Cummins files as Engines & Turbines and Honeywell International as Aircraft Engines & Engine Parts. The pair is compared because both map to the Economic trends research theme, not because the filings show head-to-head competition.
Is CMI or HON the bigger company by revenue?
Honeywell International (HON) is the larger business by reported revenue: $37.4B in its fiscal year ended Dec 2025, about 1.1× CMI's $33.7B (fiscal year ended Dec 2025). The SEC classifies them differently (Engines & Turbines; Aircraft Engines & Engine Parts); what connects them is shared exposure to the Economic trends research theme, not a common industry. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, CMI or HON?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this CMI vs HON comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Cummins Inc. and Honeywell International Inc. tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-10-03. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-10-03. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
CMI vs HON compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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