Investment Thesis
Cummins designs diesel and natural gas engines plus related components and power systems. Energy transition investments (Electrolyzers, batteries) and aftermarket services support durable profitability.
- Aftermarket Base: Global installed engine base generates recurring parts and service revenue.
- Component Diversification: Turbochargers, filtration, and electronics expand content per vehicle.
- New Power: Hydrogen fuel cells and electrolyzers position Cummins for decarbonization.