Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Cummins's shares outstanding for the quarter that ended in Mar. 2026 was 138 Mil.
Cummins's quarterly shares outstanding
declined
from Dec. 2025 (138 Mil) to Mar. 2026 (138 Mil).
It means Cumminsbought back shares from Dec. 2025 to Mar. 2026 .
Cummins's annual shares outstanding
increased
from Dec. 2024 (137 Mil) to Dec. 2025 (138 Mil).
It means Cumminsissued new shares from Dec. 2024 to Dec. 2025 .
A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.
Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.
Be Aware
Warren Buffett looks for consistency and upward long term trend. Because of share repurchase it is possible for net earnings trend to differ from EPS trend. He preferred net income over EPS. The companies with durable competitive advantage companies report higher % net earnings to total revenues.
Important: If a company is showing net earnings history greater than 20% on total revenues, it is probably benefiting from a long term competitive advantage.
If net earnings is less than 10%, likely to be in a highly competitive business.
Cummins Shares Outstanding (EOP) Related Terms
Cummins Shares Outstanding (EOP) Historical Data
* Premium members only.
The historical data trend for Cummins's Shares Outstanding (EOP) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
XTER:CUM vs EMR, ITW, PH: Shares Outstanding (EOP) Comparison
For the Specialty Industrial Machinery subindustry, Cummins's Shares Outstanding (EOP), along with its competitors' market caps and Shares Outstanding (EOP) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Cummins Shares Outstanding (EOP) vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Cummins's Shares Outstanding (EOP) distribution charts can be found below:
* The bar in red indicates where Cummins's Shares Outstanding (EOP) falls into.
Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.
Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.
What does a Shares Outstanding (EOP) of 138 Mil mean?
Cummins (XTER:CUM) has a Shares Outstanding (EOP) of 138 Mil as of Mar. 2026. The total shares a company has outstanding, at period-end. View historical data on Cummins and its competitors.
Is Cummins' Shares Outstanding (EOP) too high?
Cummins' current Shares Outstanding (EOP) is 138 Mil. Overall, Cummins has a GF Score™ of 84/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cummins' Shares Outstanding (EOP) compare to EMR and ITW?
Cummins' Shares Outstanding (EOP) of 138 Mil can be compared against companies in the Industrial Products industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Shares Outstanding (EOP) for an Industrial Products company?
A good Shares Outstanding (EOP) depends on the Industrial Products industry context. However, Shares Outstanding (EOP) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Shares Outstanding (EOP) mean?
A high Shares Outstanding (EOP) can signal that a stock is expensive relative to its fundamentals. The total shares a company has outstanding, at period-end. View historical data on Cummins and its competitors. Cummins's current Shares Outstanding (EOP) is 138 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cummins stock overvalued right now?
Based on GuruFocus' analysis, Cummins (XTER:CUM) is currently considered Significantly Overvalued. The stock's GF Value™ is €288.08, compared to a current price of €581.60 — trading 101.9% above its estimated fair value. The current Shares Outstanding (EOP) is 138 Mil. Cummins' overall GF Score™ is 84/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shares Outstanding (EOP) calculated?
Shares Outstanding (EOP) is calculated from a company's financial statements. For Cummins (XTER:CUM), the current Shares Outstanding (EOP) is 138 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Cummins (XTER:CUM) Overvalued in 2026?
Based on GuruFocus' analysis, Cummins stock appears to be overvalued.
The current stock price of €581.60 is trading 101.9% above its estimated GF Value™ of €288.08.
GuruFocus considers Cummins to be Significantly Overvalued.
Key valuation signals for XTER:CUM:
Shares Outstanding (EOP): 138 Mil
GF Value™: €288.08 vs. price of €581.60 (101.9% above fair value)
No single metric tells the full story. See the XTER:CUM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cummins is a leading manufacturer of diesel and other engines used in heavy- and medium-duty commercial trucks, off-highway equipment, and locomotives, in addition to prime power and standby generators. The company also sells powertrain components, which include filtration products, transmissions, turbochargers, aftertreatment systems, and fuel systems. Sales are approximately 60% US and Canada and 40% rest of the world. Much of Cummins' foreign sales (China, India, and so forth) are through joint ventures. The company operates 650 distributors and over 19,000 dealer locations across 190 countries. Cummins' business model is unique as it competes with many of its heavy-duty truck manufacturer customers, which also make their own engines.
84GF Score
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Shares Outstanding (EOP) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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