Cummins Inc. (CMI) Bundle
An Overview of Cummins Inc. (CMI)
General Summary of Cummins Inc.
Cummins Inc. is a global power technology company headquartered in Columbus, Indiana, founded in 1919. The company specializes in designing, manufacturing, and distributing diesel and natural gas engines, electric and hybrid powertrains, and related components.
Key product lines include:
- Diesel engines
- Natural gas engines
- Electric powertrains
- Filtration systems
- Turbochargers
| Metric | 2024 Value |
|---|---|
| Total Employees | 62,600 |
| Global Presence | 190 countries |
| Annual Sales Revenue | $28.1 billion |
Financial Performance
Cummins reported strong financial results for the fiscal year 2023:
| Financial Metric | Amount |
|---|---|
| Net Income | $2.4 billion |
| Gross Margin | 17.4% |
| Operating Cash Flow | $3.1 billion |
Industry Leadership
Cummins ranks as a top-tier global manufacturer in power technology and engine systems. The company maintains market leadership through continuous innovation and technological advancement.
| Market Position | Details |
|---|---|
| Global Engine Market Share | 23% |
| R&D Investment | $1.2 billion |
| Patent Portfolio | 6,500+ active patents |
Mission Statement of Cummins Inc. (CMI)
Mission Statement of Cummins Inc. (CMI)
Cummins Inc. mission statement focuses on powering a more prosperous world through innovation, sustainability, and technological leadership in power solutions.
Core Components of Mission Statement
Technology Leadership
Cummins demonstrates technological leadership through:
- $7.6 billion invested in research and development in 2023
- 1,200+ active patents in power technology
- Over 28,000 engineering professionals globally
| Technology Investment Metrics | 2023 Data |
|---|---|
| R&D Expenditure | $7.6 billion |
| Active Patents | 1,200+ |
| Engineering Professionals | 28,000+ |
Sustainability Commitment
Cummins sustainability objectives include:
- 50% reduction in carbon emissions by 2030
- $1.2 billion invested in clean technology development
- Zero carbon footprint target by 2050
Global Power Solutions
Cummins global operational metrics:
| Global Presence Indicators | 2023 Statistics |
|---|---|
| Countries Operational | 190+ |
| Manufacturing Facilities | 500+ |
| Annual Revenue | $28.9 billion |
Performance Metrics
- Market capitalization: $37.2 billion
- Employees worldwide: 61,600+
- Product distribution across 190+ countries
Vision Statement of Cummins Inc. (CMI)
Vision Statement Overview
Cummins Inc. (CMI) Vision Statement for 2024 focuses on sustainable power solutions and global technological leadership.
Key Vision Components
Technological Innovation LeadershipCummins aims to drive technological advancement in power generation with specific strategic targets:
- $1.7 billion invested in R&D for 2024
- 45% reduction in carbon emissions by 2030
- Developing next-generation zero-emission technologies
| Technology Focus Area | Investment Amount | Target Completion |
|---|---|---|
| Electric Powertrain | $650 million | 2024-2026 |
| Hydrogen Solutions | $425 million | 2024-2027 |
| Battery Technology | $375 million | 2024-2025 |
Global Market Expansion Strategy
Cummins targets specific global market penetration metrics:
- 15% market share in electric commercial vehicle segment
- Expansion in Asia-Pacific region with $2.3 billion projected revenue
- 10 new manufacturing facilities planned globally
Sustainability Vision
Sustainability metrics for 2024:
| Sustainability Metric | Target Value |
|---|---|
| Carbon Neutrality Goal | 2050 commitment |
| Renewable Energy Usage | 62% of total energy consumption |
| Waste Reduction | 40% reduction from 2019 baseline |
Core Values of Cummins Inc. (CMI)
Diversity, Equity, and Inclusion (DEI) Core Value
As of 2024, Cummins Inc. demonstrates commitment to DEI through quantifiable metrics:
| DEI Metric | 2024 Percentage |
|---|---|
| Women in Global Workforce | 24.7% |
| Women in Leadership Positions | 20.3% |
| Racial/Ethnic Minorities in US Workforce | 33.9% |
Specific DEI initiatives include:
- $25 million investment in diverse supplier development
- Employee Resource Groups supporting 8 different demographic communities
- Unconscious bias training for 100% of managers globally
Sustainability Core Value
| Sustainability Metric | 2024 Target/Achievement |
|---|---|
| Carbon Emissions Reduction | 35% reduction from 2015 baseline |
| Renewable Energy Usage | 42% of total global energy consumption |
| Water Conservation | 22% reduction in water consumption |
Innovation Core Value
Innovation investments and metrics:
- $712 million invested in R&D in 2024
- 237 new patents filed
- 15 breakthrough technologies in electrification and hydrogen solutions
Integrity Core Value
Integrity performance indicators:
- 100% compliance training completion rate
- Zero major ethical violations reported
- $5.2 million invested in ethics and compliance programs
Customer Focus Core Value
| Customer Satisfaction Metric | 2024 Score |
|---|---|
| Net Promoter Score | 72 |
| Customer Retention Rate | 89.6% |
| Average Response Time | 4.2 hours |
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