CompaniesRanked

2874 companies · fiscal year 2025 · SEC EDGAR · September 25, 2026

Industrials companies that spend the most on R&D — page 2

Ranks 101–172 of 172 · Fiscal year 2025 · Data as of September 25, 2026

R&D expense
#CompanyR&D expenseYoY15-year trend
101SunrunRUNUS$36.1M−8.1%
102RBC BearingsRBCUS$34.4M+4.2%
103Fuelcell EnergyFCELUS$34.1M−38.5%
104Sleep NumberSNBRQUS$33.9M−25.0%
105Crown HoldingsCCKUS$33.0M+3.1%
106Valmont IndustriesVMIUS$33.0M−44.1%
107Somnigroup InternationalSGIUS$32.9M+6.8%
108AzentaAZTAUS$30.4M−3.6%
109Alliance LaundryALHUS$29.7M+30.3%
110ArcbestARCBUS$29.1M−14.7%
111Hayward HoldingsHAYWUS$27.2M+5.5%
112Astec IndustriesASTEUS$26.9M+13.0%
113Aebi SchmidtAEBICH$26.5M+35.5%
114Huntington Ingalls IndustriesHIIUS$26.0M−3.7%
115MaterionMTRNUS$25.9M−10.6%
116Columbus MckinnonCMCOUS$21.4M−10.3%
117Standex InternationalSXIUS$21.2M+3.4%
118Ituran Location & ControlITRNIL$20.8M+15.0%
119Franklin ElectricFELEUS$20.0M−7.0%
120Mueller Water ProductsMWAUS$19.9M−2.9%
121RedwireRDWUS$19.8M+222.5%
122Golar LNGGLNGBM$19.2M+55.8%
123Helios TechnologiesHLIOUS$19.1M−5.0%
124Voyager TechnologiesVOYGUS$19.0M+46.2%
125Power Solutions InternationalPSIXUS$18.2M−9.4%
126LindsayLNNUS$17.9M+4.7%
127Compass DiversifiedCODIUS$16.6M−1.8%
128Zurn Elkay Water SolutionsZWSUS$16.2M−0.6%
129American SuperconductorAMSCUS$15.7M+37.8%
130Evolent HealthEVHUS$15.5M+2.6%
131KadantKAIUS$15.3M+6.6%
132Enerpac ToolEPACUS$14.5M+16.9%
133BWX TechnologiesBWXTUS$13.9M+85.4%
134Aspen AerogelsASPNUS$13.4M−25.7%
135Loar HoldingsLOARUS$13.1M+48.9%
136Energy RecoveryERIIUS$13.0M−19.7%
137Accendra HealthACHUS$13.0M0.0%
138BingexFLXCN$12.1M−38.7%
139Simpson ManufacturingSSDUS$11.5M−44.4%
140Powell IndustriesPOWLUS$11.0M+16.8%
141La-Z-BoyLZBUS$10.8M+9.1%
142Smith & Wesson BrandsSWBIUS$10.3M+7.7%
143Purple InnovationPRPLUS$9.6M−25.9%
144Koppers HoldingsKOPUS$9.0M+36.4%
145Sturm RugerRGRUS$8.4M+2.4%
146Douglas DynamicsPLOWUS$7.7M−8.3%
147Mastercraft BoatMCFTUS$6.5M−4.4%
148Graftech InternationalEAFUS$6.5M+13.5%
149GrahamGHMUS$6.4M+57.3%
150Greenbrier CompaniesGBXUS$5.5M+5.8%
151Preformed Line ProductsPLPCUS$5.2M+15.6%
152TrexTREXUS$4.2M+20.0%
153EasternEMLUS$4.1M−16.9%
154Babcock & Wilcox EnterprisesBWUS$3.8M+137.5%
155Foster L BFSTRUS$3.6M+28.7%
156M/I HomesMHOUS$3.6M+50.0%
157XpelXPELUS$2.9M0.0%
158Twin DiscTWINUS$2.7M+2.7%
159Circle8 GroupCIRCUS$2.3M+43.7%
160Flexsteel IndustriesFLXSUS$2.1M0.0%
161Fgi IndustriesFGIUS$1.4M−16.6%
162Tat TechnologiesTATTIL$1.4M+10.9%
163Hillman SolutionsHLMNUS$1.4M+1.9%
164Mistras GroupMGUS$1.0M−8.1%
165AndersonsANDEUS$1.0M+25.0%
166Freightcar AmericaRAILUS$955,000+2,173.8%
167MGP IngredientsMGPIUS$916,000+22.5%
168Marine ProductsMPXUS$822,000−14.4%
169Ampco PittsburghAPUS$494,000+12.0%
170Acme UnitedACUUS$251,000−57.9%
171Air TAIRTUS$195,653−81.2%
172Perma-Pipe InternationalPPIHUS$100,000−80.0%

All figures from SEC filings · FY2025 · 72

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