Cummins (CMI) Research & Development (2009 - 2026)
Cummins (CMI) posted Research & Development of $385 million for Q2 2026, up 7.8% from $357 million a year earlier and up 7.5% from the prior quarter.
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Analysis
Cummins (CMI) Research & Development (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Research & Development at Cummins was $1.44 billion, up 1.6% year-over-year; for FY2025, it was $1.4 billion, down 4.6% from FY2024.
- Annual Research & Development shows a five-year compound annual growth rate of 9.0% (FY2020 to FY2025).
- In prior years, Cummins' Research & Development was $1.46 billion in FY2024 (-2.5%), $1.5 billion in FY2023 (+17.4%), $1.28 billion in FY2022 (+17.2%) and $1.09 billion in FY2021 (+20.3%).
- The Q2 2026 figure stands as the highest quarterly Research & Development since Q4 2023.
- On a year-over-year basis, Research & Development increased in two of the last eight quarters, with an average decline of 2.4%.
- The strongest year-over-year quarter for Research & Development in the past five years was Q3 2022, with growth of 30.8%; the weakest was Q4 2024, with a decline of 8.7%.
- According to Business Quant data, Research & Development for the three prior quarters was $358 million (Q1 2026), $350 million (Q4 2025) and $345 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Caterpillar | 380.10 Bn | 351.79 Bn | 7.76 Bn | 616.00 Mn |
| 2 | Amphenol | 208.03 Bn | 202.73 Bn | 3.55 Bn | - |
| 3 | Deere | 183.47 Bn | 192.23 Bn | 4.66 Bn | 567.00 Mn |
| 4 | Eaton | 168.26 Bn | 165.49 Bn | 2.86 Bn | 227.00 Mn |
| 5 | Parker-Hannifin | 122.34 Bn | 120.47 Bn | 2.25 Bn | - |
| 6 | Vertiv Holdings | 95.63 Bn | 86.25 Bn | 1.23 Bn | - |
| 7 | Emerson Electric | 87.72 Bn | 80.47 Bn | 2.66 Bn | - |
| 8 | 3M | 86.87 Bn | 68.33 Bn | 2.68 Bn | 302.00 Mn |
| 9 | Illinois Tool Works | 76.08 Bn | 72.64 Bn | 1.90 Bn | - |
| 10 | Cummins | 71.78 Bn | 68.92 Bn | 2.47 Bn | 385.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| 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 | 356.00 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 |
API Access
Cummins Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=CMI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "CMI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=CMI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();