Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Cummins Inc (CMI) Halal?

PASS

Cummins Inc · NYSE: CMI · Industrials

The short answer

Yes -- Cummins Inc (CMI) passes this Shariah stock screen on all three gates. Per its own FY2025 10-K, its core business is designing, manufacturing and servicing engines, powertrains and power systems through five segments (Engine, Components, Distribution, Power Systems, Accelera), with no disclosed haram business activity (no conventional lending/insurance, alcohol, gambling, pork, tobacco, or weapons). Its debt screen passes: $8,114M of loans payable, commercial paper, long-term debt and operating lease obligations is about 11.36% of its ~$71.43B market cap ($517.00, latest close retrieved October 2, 2026; 138,165,463 shares outstanding), below the ~33% ceiling. Its non-compliant income screen passes: disclosed interest-type income of $211M ($106M interest income plus a $105M combined royalty-and-interest line) is about 0.63% of $33,670M in net sales, below the 5% ceiling. All three third-party screeners cover the ticker: Musaffa classifies CMI as halal (October 2026), ShariaPortfolio calls it Shariah Compliant (5/5 standards), and Zoya discloses the same $211M interest income figure (0.63%) -- honestly reported, not invented.

Gate 1 — Business activity: PASS

Cummins Inc (NYSE: CMI), based in Columbus, Indiana, describes its principal business in its FY2025 10-K as a global power leader with five reportable segments: Engine, Components, Distribution, Power Systems, and Accelera. Its portfolio spans advanced diesel, natural gas, electric and hybrid powertrains; integrated power generation systems; components (aftertreatment, turbochargers, fuel systems, controls, transmissions, axles, brakes); and zero-emissions technologies such as battery and electric powertrain systems. Business screen (factual, from the filing): Cummins is an industrial manufacturer of engines and power systems -- the filing discloses no conventional lending/insurance, alcohol, gambling, pork, tobacco, or weapons business. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per Cummins's FY2025 10-K (fiscal year ended December 31, 2025), interest-bearing debt was $8,114M -- loans payable $313M, commercial paper $353M, current maturities of long-term debt $94M, long-term debt $6,792M, plus operating lease liabilities of $562M (current $138M + long-term $424M, included for consistency with the Aflac screen on this site). Against a market cap of about $71.43B ($517.00 latest close retrieved October 2, 2026; 138,165,463 shares outstanding per the 10-K cover), debt divided by market cap is about 11.36%, comfortably below the ~33% ceiling. Cash and cash equivalents of $2,845M plus $764M of marketable securities ($3,609M combined) are about 5.05% of market cap. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

Cummins's FY2025 10-K discloses interest income of $106M (Other income, net) and a combined royalty-and-interest income line of $105M (Note 3, where the interest portion is not separately stated) -- together $211M against net sales of $33,670M, about 0.63% of revenue, well below the 5% non-compliant income ceiling. Zoya independently reports the same $211M figure as 0.63% of revenue. The remaining $364M of the equity-investee line is Cummins's share of engine-manufacturer and distributor joint-venture earnings, an operating item. Gate 3 passes. Facts only.

Key figures used

Frequently asked questions

What does Cummins do?

Cummins Inc (NYSE: CMI), based in Columbus, Indiana, describes its principal business in its FY2025 10-K as a global power leader with five reportable segments: Engine, Components, Distribution, Power Systems, and Accelera. Its products include advanced diesel, natural gas, electric and hybrid powertrains; integrated power generation systems; components such as aftertreatment systems, turbochargers, fuel systems, controls, transmissions, axles and brakes; and zero-emissions technologies such as battery and electric powertrain systems. It sells to original equipment manufacturers, distributors, dealers and other customers worldwide through roughly 640 distributor locations and more than 13,000 certified dealers in about 190 countries and territories. The 10-K discloses no conventional lending, insurance, alcohol, gambling, pork, tobacco, or weapons business.

Why does Cummins pass this Shariah stock screen?

Cummins passes this screen at all three gates. Gate 1 (business activity): its core business is designing, manufacturing and servicing engines, powertrains and power systems -- an industrial manufacturing activity with no disclosed haram segment (no conventional banking/lending, insurance, alcohol, gambling, pork, tobacco or weapons). Gate 2 (debt): interest-bearing debt of $8,114M against a ~$71.43B market cap is about 11.36%, below the ~33% ceiling. Gate 3 (non-compliant income): disclosed interest-type income of $211M is about 0.63% of $33,670M in net sales, below the 5% ceiling. This is a factual screen, not a religious ruling -- consult a qualified scholar for personal rulings.

What is Cummins's interest-bearing debt ratio?

Per Cummins's FY2025 10-K (fiscal year ended December 31, 2025), interest-bearing debt was $8,114M -- loans payable $313M, commercial paper $353M, current maturities of long-term debt $94M, long-term debt $6,792M, plus operating lease liabilities of $562M (current portion $138M and long-term $424M, included for consistency with the Aflac screen on this site). Against a market cap of about $71.43B ($517.00 latest close retrieved October 2, 2026; 138,165,463 shares outstanding per the 10-K cover), debt divided by market cap is about 11.36% -- comfortably below the ~33% ceiling. Cash and cash equivalents of $2,845M plus $764M of marketable securities ($3,609M combined) are about 5.05% of market cap.

What is Cummins's non-compliant income ratio?

Cummins's FY2025 10-K discloses two interest-type income lines: interest income of $106M (in Other income, net) and a combined royalty-and-interest income line of $105M (in Note 3, equity, royalty and interest income from investees, where the interest portion is not separately stated). Together $211M against net sales of $33,670M is about 0.63% of revenue -- well below the 5% non-compliant income ceiling. Zoya independently reports the same figures: interest income of $211M representing 0.63% of revenue. The remaining $364M of the equity-investee line is Cummins's share of engine-manufacturer and distributor joint-venture earnings, an operating item. Gate 3 passes.

Do Zoya, Musaffa, or ShariaPortfolio cover Cummins?

All three cover CMI. Zoya covers CMI and discloses FY2025 interest income of $211M (0.63% of revenue) on its page; the headline compliance banner's assessment date was blank when accessed in October 2026, so no explicit Zoya compliance status could be read from the page. Musaffa covers CMI and classifies it as HALAL as of October 2026 under its AAOIFI methodology (musaffa.com/stock/CMI/). ShariaPortfolio covers CMI and states Cummins Inc is Shariah Compliant, passing 5/5 of its screened standards. All three coverage statements are honestly reported and are consistent with this page's own PASS outcome. This page applies the screen directly from Cummins's own filings and reports these positions honestly.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).