Percent change in each close since the start of the chosen range, for both companies and the S&P 500 (SPY). Daily closes over the last year, weekly before that and monthly before five years.
In short
How the two compare
On the latest closes (28 Oct 2026), Cummins is the larger company by market value ($73.60B against $47.63B). Over the past year Cummins returned +28% and Wabtec +41.5%, while the S&P 500 returned +12.7%. The latest filed P/E is 33.0 for Cummins and 38.2 for Wabtec, and the operating margin 13.5% against 20%. Over the next 21 sessions the model expects −0.41% for Cummins, with a 41% chance of a rise, and +0.63% for Wabtec, with a 75% chance. Cummins' long-run fair value is $390.45, a gap of −26.5% to its price; the long-run model view is negative. Wabtec's long-run fair value is $286.25, a gap of +1.4% to its price; the long-run model view is neutral.
Model view
What the model expects
Expected returns and the chance of a rise from our forecasting models, and the long-run fair value against the price. Readings, not advice.
Model readings:
MeasureCummins · CMIWabtec · WAB
Expected returnnext 21 sessions
CMI−0.41%
WAB+0.63%
Chance of a risenext 21 sessions
CMI41%
WAB75%
Expected returnnext 63 sessions
CMI+1.79%
WAB+2.39%
Range of outcomes63 sessions, 80% band
CMI−17.3% to +20.9%
WAB−15.2% to +19.9%
Chance of a risenext 63 sessionsMembers only · see plans
Long-run fair valueintrinsic value model
CMI$390.4528 Oct 2026
WAB$286.2528 Oct 2026
Gap to pricefair value against the close
CMI−26.5%
WAB+1.4%
Past readings that matchedsign of the 21-session outcome
CMI63.9%of 269
WAB62.8%of 269
Price performance
How the prices moved
Price change over each period, with the S&P 500 (SPY) for comparison.
Closes to
MeasureCummins · CMIWabtec · WAB
1 monthS&P 500: +1.1%
CMI+1.9%
WAB−3.1%
6 monthsS&P 500: +8.5%
CMI−16.3%
WAB+8.2%
Year to dateS&P 500: +13.3%
CMI+5.2%
WAB+32.7%
1 yearS&P 500: +12.7%
CMI+28%
WAB+41.5%
5 yearsS&P 500: +70.7%
CMI+145.4%
WAB+210.8%
1 year against the S&P 500percentage points
CMI+15.3 pts
WAB+28.8 pts
Position in the 52-week range0% low, 100% high
CMI38%close $531.39 in $408.01 to $735.02
WAB78%close $282.18 in $194.26 to $306.32
Against the 200-day average
CMI−11.6%
WAB+5.7%
Valuation
What the market pays
Size and the multiples from the latest filed quarter. A P/E on losses reads n/m.
Filings: quarter to (CMI), (WAB)
MeasureCummins · CMIWabtec · WAB
Market value
CMI$73.60B28 Oct 2026
WAB$47.63B28 Oct 2026
Enterprise valueat the last filing
CMI$102.69B30 Jun 2026
WAB$53.14B30 Sep 2026
P/Elatest filed
CMI33.0
WAB38.2
Price to book
CMI7.10
WAB4.27
EV / EBITDA
CMI19.75
WAB21.76
Free cash flow yield
CMI3.41%
WAB3.68%
Dividend yield
CMI1.12%
WAB0.41%
Profitability
How much of revenue becomes profit
Margins and returns on capital from the latest filing; revenue, net income and earnings per share over the trailing twelve months.
Filings: quarter to (CMI), (WAB)
MeasureCummins · CMIWabtec · WAB
Gross margin
CMI26.1%
WAB37.3%
Operating margin
CMI13.5%
WAB20%
Net margin
CMI10.2%
WAB13.1%
Return on equity
CMI21.6%
WAB11.2%
Return on invested capital
CMI4.6%
WAB2.9%
Revenuetrailing twelve months
CMI$34.48B
WAB$11.40B
Net incometrailing twelve months
CMI$3.00B
WAB$1.27B
Earnings per sharetrailing twelve months
CMI$21.64
WAB$7.52
Growth
How fast the business grew
Change against the same quarter a year earlier.
Filings: quarter to (CMI), (WAB)
MeasureCummins · CMIWabtec · WAB
Revenue growthyear over year
CMI+9.4%
WAB+8.1%
Earnings growthyear over year
CMI+4.3%
WAB+31.9%
Free cash flow growthyear over year
CMI+252.2%
WAB+45.2%
Financial health
Balance sheet and quality scores
Leverage, liquidity and two published scores: Altman Z (below 1.8 the distress zone, above 3 the safe zone) and Piotroski F (0 to 9).
Filings: quarter to (CMI), (WAB)
MeasureCummins · CMIWabtec · WAB
Debt to equity
CMI0.51
WAB0.41
Current ratiocurrent assets over current liabilities
CMI1.73
WAB1.10
Altman Z-score
CMI4.30
WAB3.02
Piotroski F-scoreout of 9
CMI6 of 9
WAB6 of 9
Trading and risk
How the shares trade
Volatility, sensitivity to the market, the deepest fall, short interest and how closely the two move together.
Closes to ; FINRA settlement
MeasureCummins · CMIWabtec · WAB
Volatility21 sessions, annualised
CMI27.5%
WAB24.7%
Betaagainst the S&P 500, 5 years
CMI0.98
WAB0.98
Deepest fallpeak to trough, 5 years
CMI−30.5%
WAB−23.6%
Market regimeour reading at each model date
CMIStrong risk-off
WABStrong risk-off
Short interestshare of the float
CMI3%settled 30 Sep 2026
WAB2.4%settled 30 Sep 2026
Days to covershort shares over average volume
CMI3.6
WAB4.1
Average volume3 months, shares a day
CMI1.07M
WAB894.56K
Moving togethercorrelation of daily returns, past year0.60, often together−1 opposite0 unrelated+1 together
Questions
Cummins or Wabtec: common questions
Which is larger by market value, Cummins or Wabtec?
Cummins, at $73.60B against $47.63B for Wabtec, on the latest closes (28 Oct 2026).
Which has the higher P/E ratio, Cummins or Wabtec?
Wabtec has the higher latest filed P/E, 38.2; Cummins' is 33.0. Filings: quarter to 30 Jun 2026 and 30 Sep 2026.
How did Cummins and Wabtec move over the past year against the S&P 500?
Over the past year Cummins returned +28% and Wabtec +41.5%, while the S&P 500 returned +12.7%. Prices at close 28 Oct 2026.
What does the model expect for Cummins and Wabtec over the next month?
−0.41% for Cummins with a 41% chance of a rise, and +0.63% for Wabtec with a 75% chance, over the next 21 sessions. Model readings 28 Oct 2026. These are model readings, not advice.
How do the operating margins of Cummins and Wabtec compare?
The operating margin is 13.5% for Cummins and 20% for Wabtec, and the gross margin 26.1% against 37.3%. Filings: quarter to 30 Jun 2026 and 30 Sep 2026.
Do Cummins and Wabtec shares move together?
Over the past year the correlation of their daily returns was 0.60 (often together); 1 means they always move together, 0 unrelated, −1 opposite. Prices at close 28 Oct 2026.
In the consoleCompare up to four companies with every model readingMembers see the 63-session chance of a rise and all four horizons, side by side in Research › Compare.
Model readings are research estimates, not investment advice. Prices: daily closes. Fundamentals: the latest SEC filings. Short interest: FINRA, settlement 30 Sep 2026. A dash means the figure is not in our data; it is never shown as zero. The model view follows a published rule: next month by the sign of the expected return, the long run positive at a fair value 10% or more above the price and negative at 10% or more below it.