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
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 | 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 |