TMC the metals (TMC) Research & Development (2020 - 2026)
TMC the metals' (TMC) quarterly Research & Development came in at $10.6 million in Q4 2025, up 28.11% YoY from $8.3 million in Q4 2024, and up 10.43% on a QoQ basis from $9.6 million in Q3 2025.
TMC the metals (TMC) Research & Development (2020 - 2026) Analysis & Trends
TMC the metals (TMC) has 6 years of Research & Development data on file, last reported at $10.6 million in Q4 2025.
- Quarterly Research & Development rose 28.11% year-over-year to $10.6 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $40.3 million (down 20.46% YoY) and the FY2025 annual result came in at $40.3 million, down 20.46% from the prior year.
- Research & Development rose to $10.6 million in Q4 2025, from $9.6 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of $104.3 million in Q4 2022 to a low of $7.2 million in Q1 2023.
- A 5-year average of $18.9 million and a median of $11.2 million in 2024 frame the typical range for Research & Development.
- The widest YoY moves for Research & Development: up 712.94% in 2022, down 80.47% in 2022.
- Tracing TMC's Research & Development over 5 years: stood at $12.8 million in 2021, then jumped by 712.94% to $104.3 million in 2022, then sank by 74.41% to $26.7 million in 2023, then plunged by 68.87% to $8.3 million in 2024, then rose by 28.11% to $10.6 million in 2025.
- The last three Research & Development figures came in at $10.6 million (Q4 2025), $9.6 million (Q3 2025), and $10.5 million (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Bhp | 238.03 Bn | 208.58 Bn | - | - |
| 2 | Rio Tinto | 201.39 Bn | 191.89 Bn | - | - |
| 3 | Teck Resources | 32.48 Bn | 27.27 Bn | 1.21 Bn | -2.89 Mn |
| 4 | MP Materials | 9.79 Bn | 7.32 Bn | 36.20 Mn | - |
| 5 | Almonty Industries | 5.05 Bn | 4.16 Bn | 18.87 Mn | - |
| 6 | Materion | 4.85 Bn | 4.83 Bn | 104.34 Mn | 6.56 Mn |
| 7 | Skeena Resources | 4.31 Bn | 3.89 Bn | - | 12.26 Mn |
| 8 | USA Rare Earth | 3.94 Bn | 3.94 Bn | -1.58 Mn | 10.77 Mn |
| 9 | Evolution Metals & Technologies | 2.06 Bn | 2.06 Bn | -115,000.00 | - |
| 10 | TMC the metals | 1.71 Bn | 1.61 Bn | - | 56.09 Mn |
Historic Data
Download 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 |