Cummins CMI
NYSE CMI
$547.55 -7.21 (-1.30%)
As of: Sep 10, 2026 · 2:12 PM EDT

Cummins (CMI) Research & Development (2009 - 2026)

Cummins' (CMI) quarterly Research & Development came in at $385.0 million in Q2 2026, up 7.84% on a YoY basis from $357.0 million in Q2 2025, and up 7.54% quarter-over-quarter from $358.0 million in Q1 2026.

Analysis

Cummins (CMI) Research & Development (2009 - 2026) Analysis & Trends

Cummins (CMI) has reported Research & Development for 18 consecutive years, with $385.0 million the latest figure, recorded in Q2 2026.

  • For the quarter ending Q2 2026, Research & Development rose 7.84% year-over-year to $385.0 million; the trailing twelve-month figure through Jun 2026 stood at $1.4 billion (up 35.4% YoY), and the FY2025 full-year result was $1.4 billion, down 4.58% from the prior year.
  • Research & Development improved to $385.0 million in Q2 2026 per CMI's latest filing, from $358.0 million in the prior quarter.
  • Across five years, Research & Development topped out at $390.0 million in Q4 2023 and bottomed at $2.0 million in Q4 2024.
  • Historically, Research & Development has averaged $334.8 million across 5 years, with a median of $353.5 million in 2023.
  • The sharpest annual moves came in 2024 and 2025: Research & Development tumbled 99.49% in 2024, then jumped 17400.0% in 2025.
  • Over 5 years, Research & Development stood at $333.0 million in 2022, then rose by 17.12% to $390.0 million in 2023, then sank by 99.49% to $2.0 million in 2024, then surged by 17400.0% to $350.0 million in 2025, then increased by 10.0% to $385.0 million in 2026.
  • According to Business Quant data, Research & Development over the past three periods registered $385.0 million, $358.0 million, and $350.0 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) R&D (Qtr)
1 Caterpillar 370.09 Bn 363.38 Bn 7.76 Bn 616.00 Mn
2 Cummins 75.52 Bn 70.85 Bn 2.47 Bn 385.00 Mn
3 Paccar 64.60 Bn 55.94 Bn 1.56 Bn 114.30 Mn
4 Borgwarner 13.28 Bn 10.83 Bn 721.00 Mn -
5 Allison Transmission Holdings 10.45 Bn 10.05 Bn 515.00 Mn 56.00 Mn
6 Oshkosh 9.22 Bn 8.81 Bn 480.30 Mn -
7 Federal Signal 6.93 Bn 6.86 Bn 203.80 Mn -
8 Terex 6.82 Bn 6.41 Bn 444.00 Mn -
9 Dana 3.28 Bn 2.95 Bn 210.00 Mn -
10 Phinia 2.46 Bn 2.09 Bn 216.00 Mn -
Historic Data

Historic Data

Download Data
DateValue
Jun 30, 2026 385.00 Mn
Mar 31, 2026 358.00 Mn
Dec 31, 2025 350.00 Mn
Sep 30, 2025 345.00 Mn
Jun 30, 2025 357.00 Mn
Mar 31, 2025 344.00 Mn
Dec 31, 2024 2.00 Mn
Sep 30, 2024 359.00 Mn
Jun 30, 2024 379.00 Mn
Mar 31, 2024 369.00 Mn
Dec 31, 2023 390.00 Mn
Sep 30, 2023 376.00 Mn
Jun 30, 2023 384.00 Mn
Mar 31, 2023 350.00 Mn
Dec 31, 2022 333.00 Mn
Sep 30, 2022 348.00 Mn
Jun 30, 2022 299.00 Mn
Mar 31, 2022 298.00 Mn
Dec 31, 2021 288.00 Mn
Oct 3, 2021 266.00 Mn