TMC the metals (TMC) Research & Development (2020 - 2026)
TMC the metals (TMC) recorded Research & Development of $56.09 million in Q2 2026, up 434.4% from $10.5 million a year earlier.
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Analysis
TMC the metals (TMC) Research & Development (2020 - 2026) Analysis & Trends
On a TTM basis, TMC the metals' Research & Development came in at $86.86 million as of Jun 30, 2026, up 116.4% year-over-year; for FY2025, it came in at $40.28 million, down 20.5% from FY2024.
- Annual Research & Development has a five-year compound annual growth rate of -3.8% (FY2020 to FY2025).
- Across earlier years, Research & Development came in at $50.64 million in FY2024 (+1.6%), $49.85 million in FY2023 (-65.5%), $144.6 million in FY2022 (+55.5%) and $93.01 million in FY2021 (+90.3%).
- The Q2 2026 figure is the highest quarterly Research & Development since Q4 2022.
- On a year-over-year basis, Research & Development rose in three of the last seven quarters, with growth averaging 51.7%.
- Peak year-over-year performance for Research & Development in the last five years was growth of 712.9% in Q4 2022, against a decline of 80.5% in Q1 2022 at the low end.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Rio Tinto | 181.90 Bn | 148.03 Bn | - | - |
| 2 | Southern Copper | 169.19 Bn | 148.06 Bn | 2.90 Bn | 14.90 Mn |
| 3 | Newmont | 121.55 Bn | 89.73 Bn | 4.03 Bn | 47.00 Mn |
| 4 | Ternium | 108.92 Bn | 73.97 Bn | 941.02 Mn | - |
| 5 | Freeport-Mcmoran | 100.46 Bn | 96.62 Bn | 2.19 Bn | 53.00 Mn |
| 6 | Agnico Eagle Mines | 91.62 Bn | 91.62 Bn | 2.43 Bn | - |
| 7 | Barrick Mining | 68.12 Bn | 52.86 Bn | 2.90 Bn | 134.00 Mn |
| 8 | Nucor | 53.04 Bn | 43.58 Bn | 2.03 Bn | - |
| 9 | ArcelorMittal | 50.74 Bn | 31.77 Bn | - | - |
| 10 | TMC the metals | 1.69 Bn | 1.25 Bn | - | 56.09 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 56.09 Mn |
| Dec 31, 2025 | 10.64 Mn |
| Sep 30, 2025 | 9.63 Mn |
| Jun 30, 2025 | 10.50 Mn |
| Mar 31, 2025 | 9.52 Mn |
| Dec 31, 2024 | 8.30 Mn |
| Sep 30, 2024 | 11.81 Mn |
| Jun 30, 2024 | 12.40 Mn |
| Mar 31, 2024 | 18.12 Mn |
| Dec 31, 2023 | 26.68 Mn |
| Sep 30, 2023 | 7.91 Mn |
| Jun 30, 2023 | 8.10 Mn |
| Mar 31, 2023 | 7.17 Mn |
| Dec 31, 2022 | 104.26 Mn |
| Sep 30, 2022 | 22.66 Mn |
| Jun 30, 2022 | 10.24 Mn |
| Mar 31, 2022 | 7.44 Mn |
| Dec 31, 2021 | 12.83 Mn |
| Sep 30, 2021 | 23.85 Mn |
| Jun 30, 2021 | 18.23 Mn |
API Access
TMC the metals 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=TMC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "TMC", "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=TMC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();