Top Consumer Cyclical Stocks by R&D Spending
Top consumer cyclical companies ranked by R&D spending, latest annual filings.
What R&D Spending Means for Consumer Cyclical Companies
R&D spending in consumer cyclical generally runs modestly as a share of revenue, concentrated in automakers, apparel technologists, and specialty retailers investing in supply-chain and digital systems. The line is less structural to the business than in technology or healthcare, which is why rankings in this sector are topped mostly by the largest auto and durable goods firms where product engineering genuinely drives competitive position.
Why It Matters in Consumer Cyclical
Sustained product innovation supports brand durability and can blunt private-label or discount competitors, especially in categories where features and design distinguish the offer. Still, spending in this sector is cyclically sensitive: when discretionary demand softens, management typically trims research budgets before cutting marketing or store operations, which distorts year-over-year comparisons around recessions. Marketing investment often matters more to the equity story than the R&D line.
What to Read Alongside
Pair R&D with Revenue to frame spending as a share of the business, Net Income for profitability context during discretionary cycles, and Free Cash Flow to see cash generation through the cycle.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | BABA | Alibaba Group Holding Limited | Consumer Cyclical | $9.64B | $275.41B |
| 2 | F | Ford Motor Company | Consumer Cyclical | $9.40B | $51.60B |
| 3 | TSLA | Tesla, Inc. | Consumer Cyclical | $6.41B | $1501.30B |
| 4 | JD | JD.com, Inc. | Consumer Cyclical | $3.18B | $36.68B |
| 5 | PDD | PDD Holdings Inc. | Consumer Cyclical | $2.36B | $112.73B |
| 6 | ABNB | Airbnb, Inc. | Consumer Cyclical | $2.35B | $88.19B |
| 7 | MELI | MercadoLibre, Inc. | Consumer Cyclical | $2.27B | $91.22B |
| 8 | TCOM | Trip.com Group Limited | Consumer Cyclical | $2.16B | $25.58B |
| 9 | RIVN | Rivian Automotive, Inc. | Consumer Cyclical | $1.67B | $21.75B |
| 10 | EBAY | eBay Inc. | Consumer Cyclical | $1.64B | $48.55B |
| 11 | LI | Li Auto Inc. | Consumer Cyclical | $1.62B | $11.43B |
| 12 | NIO | NIO Inc. | Consumer Cyclical | $1.52B | $9.20B |
| 13 | DASH | DoorDash, Inc. | Consumer Cyclical | $1.43B | $82.01B |
| 14 | LCID | Lucid Group, Inc. | Consumer Cyclical | $1.21B | $1.64B |
| 15 | SE | Sea Limited | Consumer Cyclical | $1.16B | $63.26B |
| 16 | MBLY | Mobileye Global Inc. | Consumer Cyclical | $1.15B | $6.47B |
| 17 | APTV | Aptiv PLC | Consumer Cyclical | $1.13B | $9.38B |
| 18 | FLUT | Flutter Entertainment plc | Consumer Cyclical | $0.99B | $14.91B |
| 19 | MGA | Magna International Inc. | Consumer Cyclical | $0.79B | $17.05B |
| 20 | AUR | Aurora Innovation, Inc. | Consumer Cyclical | $0.74B | $12.67B |
| 21 | BWA | BorgWarner Inc. | Consumer Cyclical | $0.71B | $12.33B |
| 22 | CART | Maplebear Inc. | Consumer Cyclical | $0.65B | $9.95B |
| 23 | ETSY | Etsy, Inc. | Consumer Cyclical | $0.45B | $6.76B |
| 24 | ALV | Autoliv, Inc. | Consumer Cyclical | $0.41B | $8.45B |
| 25 | VFS | VinFast Auto Ltd. | Consumer Cyclical | $0.39B | $7.47B |
| 26 | ADNT | Adient plc | Consumer Cyclical | $0.39B | $1.38B |
| 27 | HAS | Hasbro, Inc. | Consumer Cyclical | $0.39B | $12.20B |
| 28 | GT | The Goodyear Tire & Rubber Company | Consumer Cyclical | $0.38B | $1.54B |
| 29 | QS | QuantumScape Corporation | Consumer Cyclical | $0.38B | $3.02B |
| 30 | PII | Polaris Inc. | Consumer Cyclical | $0.37B | $3.01B |
| 31 | WHR | Whirlpool Corporation | Consumer Cyclical | $0.37B | $2.15B |
| 32 | SN | SharkNinja, Inc. | Consumer Cyclical | $0.37B | $23.74B |
| 33 | LVS | Las Vegas Sands Corp. | Consumer Cyclical | $0.27B | $25.38B |
| 34 | LNW | Light & Wonder, Inc. | Consumer Cyclical | $0.25B | $7.03B |
| 35 | PTON | Peloton Interactive, Inc. | Consumer Cyclical | $0.24B | $2.11B |
| 36 | MAT | Mattel, Inc. | Consumer Cyclical | $0.23B | $3.74B |
| 37 | VC | Visteon Corporation | Consumer Cyclical | $0.22B | $2.48B |
| 38 | GNTX | Gentex Corporation | Consumer Cyclical | $0.20B | $4.67B |
| 39 | ALSN | Allison Transmission Holdings, Inc. | Consumer Cyclical | $0.17B | $9.46B |
| 40 | LOT | Lotus Technology Inc. | Consumer Cyclical | $0.17B | $0.57B |
| 41 | AMCR | Amcor plc | Consumer Cyclical | $0.17B | $19.79B |
| 42 | BC | Brunswick Corporation | Consumer Cyclical | $0.17B | $4.29B |
| 43 | AXL | Dauch Corporation | Consumer Cyclical | $0.15B | $2.12B |
| 44 | AVY | Avery Dennison Corporation | Consumer Cyclical | $0.14B | $13.09B |
| 45 | GLBE | Global-E Online Ltd. | Consumer Cyclical | $0.12B | $6.93B |
| 46 | HSAI | Hesai Group | Consumer Cyclical | $0.11B | $2.56B |
| 47 | DAN | Dana Incorporated | Consumer Cyclical | $0.10B | $3.20B |
| 48 | PHIN | PHINIA Inc. | Consumer Cyclical | $0.10B | $2.21B |
| 49 | MLKN | MillerKnoll, Inc. | Consumer Cyclical | $0.10B | $1.38B |
| 50 | THRM | Gentherm Incorporated | Consumer Cyclical | $0.09B | $1.08B |
| 51 | SEE | Sealed Air Corp | Consumer Cyclical | $0.08B | $6.21B |
| 52 | GOLF | Acushnet Holdings Corp. | Consumer Cyclical | $0.08B | $4.84B |
| 53 | SLDP | Solid Power, Inc. | Consumer Cyclical | $0.07B | $0.54B |
| 54 | FOXF | Fox Factory Holding Corp. | Consumer Cyclical | $0.07B | $0.78B |
| 55 | DECK | Deckers Outdoor Corporation | Consumer Cyclical | $0.07B | $10.70B |
| 56 | CALY | Callaway Golf Company | Consumer Cyclical | $0.07B | $2.60B |
| 57 | GAP | The Gap, Inc. | Consumer Cyclical | $0.06B | $7.48B |
| 58 | HNI | HNI Corporation | Consumer Cyclical | $0.06B | $3.40B |
| 59 | SCS | Steelcase Inc. | Consumer Cyclical | $0.05B | $1.85B |
| 60 | REYN | Reynolds Consumer Products Inc. | Consumer Cyclical | $0.05B | $4.62B |
| 61 | BRSL | Brightstar Lottery PLC | Consumer Cyclical | $0.05B | $1.87B |
| 62 | PTRN | Pattern Group Inc. | Consumer Cyclical | $0.05B | $3.43B |
| 63 | HYLN | Hyliion Holdings Corp. | Consumer Cyclical | $0.04B | $0.74B |
| 64 | OI | O-I Glass, Inc. | Consumer Cyclical | $0.04B | $0.93B |
| 65 | THO | THOR Industries, Inc. | Consumer Cyclical | $0.04B | $3.73B |
| 66 | ATMU | Atmus Filtration Technologies Inc. | Consumer Cyclical | $0.04B | $3.67B |
| 67 | RERE | ATRenew Inc. | Consumer Cyclical | $0.03B | $0.88B |
| 68 | CCK | Crown Holdings, Inc. | Consumer Cyclical | $0.03B | $11.93B |
| 69 | SGI | Somnigroup International Inc. | Consumer Cyclical | $0.03B | $13.23B |
| 70 | ALH | Alliance Laundry Holdings Inc. | Consumer Cyclical | $0.03B | $4.19B |
| 71 | CROX | Crocs, Inc. | Consumer Cyclical | $0.03B | $5.97B |
| 72 | MOD | Modine Manufacturing Company | Consumer Cyclical | $0.03B | $10.26B |
| 73 | ATAT | Atour Lifestyle Holdings Limited | Consumer Cyclical | $0.03B | $4.39B |
| 74 | YETI | YETI Holdings, Inc. | Consumer Cyclical | $0.03B | $3.06B |
| 75 | SON | Sonoco Products Company | Consumer Cyclical | $0.02B | $5.01B |
| 76 | GPK | Graphic Packaging Holding Company | Consumer Cyclical | $0.02B | $2.86B |
| 77 | TILE | Interface, Inc. | Consumer Cyclical | $0.02B | $2.02B |
| 78 | HBI | Hanesbrands Inc. | Consumer Cyclical | $0.02B | $2.29B |
| 79 | LZB | La-Z-Boy Incorporated | Consumer Cyclical | $0.01B | $1.20B |
| 80 | MLR | Miller Industries, Inc. | Consumer Cyclical | $0.01B | $0.62B |
| 81 | YUMC | Yum China Holdings, Inc. | Consumer Cyclical | $0.01B | $13.84B |
| 82 | PLOW | Douglas Dynamics, Inc. | Consumer Cyclical | $0.01B | $0.91B |
| 83 | XPEL | XPEL, Inc. | Consumer Cyclical | $0.00B | $1.23B |
| 84 | SG | Sweetgreen, Inc. | Consumer Cyclical | $0.00B | $0.92B |
No companies match this search.
How this ranking is built
Companies are ranked by R&D spending as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Size floor: A company qualifies at $500 million in market cap or above. Below that, one mis-stated figure outranks the companies the list is about.
- Currency check: A company whose annual revenue runs above 15 times its market cap is left out, because at that gap the two figures are not in the same currency.
- Currency check: A company whose balance sheet runs above 150 times its market cap is left out for the same reason.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.