| Stage | CMI | % of rev | PCAR | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $9.4B | 100.00% | $7.9B | 100.00% | CMI ×1.19 |
| Gross profit | $2.6B | 27.71% | $1.6B | 20.48% | CMI +7.2pp |
| Operating income | $1.3B | 13.95% | $1.2B | 14.52% | PCAR +0.6pp |
| Pre-tax income | $1.4B | 15.05% | $1.1B | 13.62% | CMI +1.4pp |
| Net income | $1.2B | 12.39% | $848M | 10.68% | CMI +1.7pp |
| Stage | CMI | PCAR | Gap · A − B |
|---|---|---|---|
| Revenue | $9.4B100.00% | $7.9B100.00% | CMI ×1.19 |
| Gross profit | 27.71%$2.6B | 20.48%$1.6B | CMI +7.2pp |
| Operating income | 13.95%$1.3B | 14.52%$1.2B | PCAR +0.6pp |
| Pre-tax income | 15.05%$1.4B | 13.62%$1.1B | CMI +1.4pp |
| Net income |
| 12.39%$1.2B |
| 10.68%$848M |
| CMI +1.7pp |
CMI 10-KFeb 10 '26
“The Eaton Cummins Automated Transmission Technologies (ECJV) joint venture is a consolidated 50/50 joint venture between Cummins Inc. and Eaton Corporation plc.”
PCAR 10-KFeb 19 '25
“The Company purchased a significant portion of its transmissions from Eaton Corporation Plc. (Eaton) and ZF Friedrichshafen AG (ZF).”
CMI · ATMU 10-KFeb 21 '25
“We have significant customer concentration, with Cummins, PACCAR and the Traton Group respectively accounting for approximately 17.6% , 16.5% and 12.2% of our net sales for the year ended December 31, 2024.”
PCAR · ATMU 10-KFeb 21 '25
“We have significant customer concentration, with Cummins, PACCAR and the Traton Group respectively accounting for approximately 17.6% , 16.5% and 12.2% of our net sales for the year ended December 31, 2024.”
CMI · DAN 10-KFeb 20 '25
“Cummins Inc.”
PCAR · DAN 10-KFeb 20 '25
“PACCAR Inc”