CMI vs. NSC

Last updated Apr 1, 2026

Compare and contrast key facts about Cummins Inc. (CMI) and Norfolk Southern Corporation (NSC).

Performance

CMI vs. NSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cummins Inc. (CMI) and Norfolk Southern Corporation (NSC). The values are adjusted to include any dividend payments, if applicable.

CMI vs. NSC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMI Cummins Inc.	5.76%	49.36%	48.92%	1.72%	14.09%	-1.68%	30.50%	38.04%	-22.06%	32.74%
NSC Norfolk Southern Corporation	-0.16%	25.65%	1.55%	-1.63%	-15.59%	27.26%	24.76%	32.39%	5.22%	36.85%

Fundamentals

Market Cap CMI : $74.78B NSC : $64.52B
EPS CMI : $20.50 NSC : $12.78
PE Ratio CMI : 26.24 NSC : 22.46
PEG Ratio CMI : 0.29 NSC : 3.41
PS Ratio CMI : 2.22 NSC : 5.30
PB Ratio CMI : 6.06 NSC : 4.15
Total Revenue (TTM) CMI : $33.67B NSC : $12.18B
Gross Profit (TTM) CMI : $8.52B NSC : $5.17B
EBITDA (TTM) CMI : $5.06B NSC : $5.85B

Returns By Period

In the year-to-date period, CMI achieves a 5.76% return, which is significantly higher than NSC's -0.16% return. Over the past 10 years, CMI has outperformed NSC with an annualized return of 20.32%, while NSC has yielded a comparatively lower 15.58% annualized return.

CMI

• 1D: 5.14%
• 1M: -7.85%
• YTD: 5.76%
• 6M: 28.36%
• 1Y: 74.84%
• 3Y*: 34.10%
• 5Y*: 18.65%
• 10Y*: 20.32%

NSC

• 1D: 1.65%
• 1M: -8.81%
• YTD: -0.16%
• 6M: -3.58%
• 1Y: 23.64%
• 3Y*: 13.15%
• 5Y*: 3.27%
• 10Y*: 15.58%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

CMI vs. NSC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMI

CMI Risk / Return Rank: 92
CMI Sharpe Ratio Rank: 93
CMI Sortino Ratio Rank: 90
CMI Omega Ratio Rank: 90
CMI Calmar Ratio Rank: 93
CMI Martin Ratio Rank: 95

NSC

NSC Risk / Return Rank: 76
NSC Sharpe Ratio Rank: 77
NSC Sortino Ratio Rank: 71
NSC Omega Ratio Rank: 72
NSC Calmar Ratio Rank: 78
NSC Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CMI vs. NSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cummins Inc. (CMI) and Norfolk Southern Corporation (NSC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CMI	NSC	Difference
Sharpe ratio Return per unit of total volatility	2.21	1.06	+1.16
Sortino ratio Return per unit of downside risk	2.81	1.61	+1.21
Omega ratio Gain probability vs. loss probability	1.39	1.22	+0.17
Calmar ratio Return relative to maximum drawdown	4.51	2.00	+2.51
Martin ratio Return relative to average drawdown	15.15	6.08	+9.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMI vs. NSC - Sharpe Ratio Comparison

The current CMI Sharpe Ratio is 2.21, which is higher than the NSC Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of CMI and NSC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CMI	NSC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	1.06	+1.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.13	+0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.57	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.42	-0.05

Correlation

The correlation between CMI and NSC is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

CMI vs. NSC - Dividend Comparison

CMI's dividend yield for the trailing twelve months is around 1.45%, less than NSC's 1.88% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMI Cummins Inc.	1.45%	1.50%	2.01%	2.71%	2.49%	2.57%	2.33%	2.74%	3.32%	2.38%	2.93%	3.99%
NSC Norfolk Southern Corporation	1.88%	1.87%	2.30%	2.28%	2.01%	1.40%	1.58%	1.85%	2.03%	1.68%	2.18%	2.79%

Drawdowns

CMI vs. NSC - Drawdown Comparison

The maximum CMI drawdown since its inception was -75.66%, which is greater than NSC's maximum drawdown of -67.74%. Use the drawdown chart below to compare losses from any high point for CMI and NSC.

Drawdown Indicators

	CMI	NSC	Difference
Max Drawdown Largest peak-to-trough decline	-75.66%	-67.74%	-7.92%
Max Drawdown (1Y) Largest decline over 1 year	-16.52%	-13.51%	-3.01%
Max Drawdown (5Y) Largest decline over 5 years	-30.48%	-35.64%	+5.16%
Max Drawdown (10Y) Largest decline over 10 years	-44.05%	-44.42%	+0.37%
Current Drawdown Current decline from peak	-10.86%	-9.70%	-1.16%
Average Drawdown Average peak-to-trough decline	-22.31%	-15.19%	-7.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.92%	4.44%	+0.48%

Volatility

CMI vs. NSC - Volatility Comparison

Cummins Inc. (CMI) has a higher volatility of 11.07% compared to Norfolk Southern Corporation (NSC) at 5.69%. This indicates that CMI's price experiences larger fluctuations and is considered to be riskier than NSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMI	NSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.07%	5.69%	+5.38%
Volatility (6M) Calculated over the trailing 6-month period	25.11%	12.49%	+12.62%
Volatility (1Y) Calculated over the trailing 1-year period	34.02%	22.63%	+11.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.09%	24.71%	+2.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.88%	27.64%	+0.24%

Financials

CMI vs. NSC - Profitability Comparison

The chart below illustrates the profitability comparison between Cummins Inc. and Norfolk Southern Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CMI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Cummins Inc. reported a gross profit of 1.95B and revenue of 8.54B. Therefore, the gross margin over that period was 22.9%.

NSC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Norfolk Southern Corporation reported a gross profit of 2.10B and revenue of 2.97B. Therefore, the gross margin over that period was 70.5%.

CMI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Cummins Inc. reported an operating income of 670.00M and revenue of 8.54B, resulting in an operating margin of 7.9%.

NSC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Norfolk Southern Corporation reported an operating income of 937.00M and revenue of 2.97B, resulting in an operating margin of 31.5%.

CMI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Cummins Inc. reported a net income of 593.00M and revenue of 8.54B, resulting in a net margin of 7.0%.

NSC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Norfolk Southern Corporation reported a net income of 644.00M and revenue of 2.97B, resulting in a net margin of 21.7%.