3M (MMM) Research & Development (2009 - 2026)
3M's Research & Development came in at $302 million for Q2 2026, up 4.9% from $288 million a year earlier but down 1.9% from the prior quarter.
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Analysis
3M (MMM) Research & Development (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, 3M reported Research & Development of $1.21 billion, up 7.3% year-over-year; for FY2025, it came in at $1.17 billion, up 7.7% from FY2024.
- Research & Development carries a five-year compound annual growth rate of -9.3% (FY2020 to FY2025).
- Going back by year, Research & Development was $1.09 billion in FY2024 (-6.0%), $1.15 billion in FY2023 (-3.8%), $1.2 billion in FY2022 (-40.0%) and $2 billion in FY2021 (+5.3%).
- The five-year range for quarterly Research & Development is -$217 million (Q4 2022) to $482 million (Q3 2021).
- Year-over-year, Research & Development has increased for six consecutive quarters, with growth averaging 5.2% over the last eight quarters.
- The fastest year-over-year change in Research & Development over five years came in Q1 2025 (growth of 12.2%), and the weakest in Q1 2024 (a decline of 46.2%).
- Business Quant data shows MMM's Research & Development at $308 million (Q1 2026), $299 million (Q4 2025) and $297 million (Q3 2025) in the three quarters before Q2 2026.
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 | 302.00 Mn |
| Mar 31, 2026 | 308.00 Mn |
| Dec 31, 2025 | 299.00 Mn |
| Sep 30, 2025 | 297.00 Mn |
| Jun 30, 2025 | 288.00 Mn |
| Mar 31, 2025 | 285.00 Mn |
| Dec 31, 2024 | 282.00 Mn |
| Sep 30, 2024 | 269.00 Mn |
| Jun 30, 2024 | 280.00 Mn |
| Mar 31, 2024 | 254.00 Mn |
| Dec 31, 2023 | 292.00 Mn |
| Sep 30, 2023 | 267.00 Mn |
| Jun 30, 2023 | 298.00 Mn |
| Mar 31, 2023 | 472.00 Mn |
| Dec 31, 2022 | -217.00 Mn |
| Sep 30, 2022 | 461.00 Mn |
| Jun 30, 2022 | 476.00 Mn |
| Mar 31, 2022 | 480.00 Mn |
| Dec 31, 2021 | 480.00 Mn |
| Sep 30, 2021 | 482.00 Mn |
API Access
3M 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=MMM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "MMM", "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=MMM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();