R&D Statistics by Sector (US)

Data Used: Multiple data services

Date of Analysis: Data used is as of January 2023

Download as an excel file instead: https://www.stern.nyu.edu/~adamodar/pc/datasets/roe.xls

For global datasets: https://www.stern.nyu.edu/~adamodar/New_Home_Page/data.html

can be obtained by clicking here

on which companies are included in each industry


Industry Name Number of firms R&D Capitalized (my estimate in $ millions) Capitalized R&D as % of Invested Capital R&D - LTM (in $ millions) Current R&D as % of Revenue R&D - 1 year ago (in $ millions) R&D - 2 years ago  (in $ millions) R&D - 3 years ago  (in $ millions) R&D - 4 years ago R&D - 5 years ago  (in $ millions) CAGR in R&D - Last 5 years
Advertising 58 $2,022.77 17.89% $712.08 1.73% $671.92 $624.73 $576.61 $838.36 $801.65 -2.34%
Aerospace/Defense 77 $50,068.10 32.72% $17,062.58 4.76% $16,803.46 $16,522.19 $16,297.86 $15,651.44 $15,674.10 1.71%
Air Transport 21 $1,814.04 1.46% $646.91 0.34% $614.13 $589.14 $546.60 $518.51 $446.03 7.72%
Apparel 39 $267.06 0.67% $91.04 0.13% $89.83 $87.85 $86.62 $84.00 $82.90 1.89%
Auto & Truck 31 $67,574.66 18.00% $23,056.19 5.75% $22,996.13 $22,610.83 $21,937.33 $18,900.66 $18,049.24 5.02%
Auto Parts 37 $10,432.49 27.91% $3,618.17 4.18% $3,522.24 $3,458.63 $3,348.54 $2,909.67 $2,731.74 5.78%
Bank (Money Center) 7 $0.00 0.00% $0.00 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 NA
Banks (Regional) 557 $0.00 0.00% $0.00 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 NA
Beverage (Alcoholic) 23 $1.85 0.01% $0.51 0.00% $0.63 $0.71 $0.67 $0.70 $0.59 -2.71%
Beverage (Soft) 31 $2,451.76 2.48% $819.08 0.52% $819.28 $819.38 $819.48 $789.21 $788.98 0.75%
Broadcasting 26 $8.67 0.01% $2.60 0.00% $2.60 $2.60 $2.60 $6.94 $6.94 -17.83%
Brokerage & Investment Banking 30 $3,907.60 0.47% $1,052.90 0.44% $1,546.60 $1,456.90 $1,308.30 $1,099.80 $475.20 17.25%
Building Materials 45 $3,868.53 7.52% $1,316.71 0.94% $1,291.38 $1,285.80 $1,269.27 $1,197.68 $1,150.86 2.73%
Business & Consumer Services 164 $6,542.46 7.67% $2,353.90 1.05% $2,285.20 $2,057.58 $1,985.02 $1,659.20 $1,521.00 9.13%
Cable TV 10 $922.80 0.32% $318.00 0.14% $311.00 $300.00 $294.00 $292.00 $288.00 2.00%
Chemical (Basic) 38 $3,703.79 4.71% $1,221.55 0.75% $1,250.87 $1,258.09 $1,230.02 $1,173.45 $1,164.28 0.96%
Chemical (Diversified) 4 $782.82 8.04% $263.18 1.53% $261.32 $264.95 $258.63 $240.81 $234.74 2.31%
Chemical (Specialty) 76 $19,827.42 11.06% $7,018.72 3.03% $6,792.41 $6,494.72 $6,180.07 $5,029.56 $4,865.46 7.60%
Coal & Related Energy 19 $107.49 1.38% $44.32 0.36% $41.00 $29.61 $23.15 $16.71 $12.44 28.92%
Computer Services 80 $21,243.22 34.14% $7,160.61 2.36% $7,102.25 $7,056.92 $6,978.84 $6,875.62 $6,788.12 1.07%
Computers/Peripherals 42 $109,111.60 56.72% $37,889.88 5.91% $36,884.38 $35,904.16 $34,696.20 $31,466.21 $31,226.49 3.94%
Construction Supplies 49 $13,457.90 10.92% $4,703.23 2.74% $4,500.89 $4,402.69 $4,220.95 $4,119.83 $3,913.39 3.75%
Diversified 23 $17,711.72 3.13% $5,964.50 1.28% $5,926.56 $5,872.02 $5,836.14 $5,741.56 $5,687.52 0.96%
Drugs (Biotechnology) 598 $235,808.89 104.67% $80,305.64 38.96% $78,854.42 $79,548.29 $75,538.37 $72,376.97 $70,543.42 2.63%
Drugs (Pharmaceutical) 281 $212,504.14 60.37% $70,393.43 17.84% $70,170.96 $70,839.80 $68,662.79 $80,024.77 $76,925.56 -1.76%
Education 33 $2,341.05 19.17% $830.78 4.70% $799.11 $755.54 $710.61 $667.10 $630.43 5.67%
Electrical Equipment 110 $9,414.74 14.93% $3,363.95 3.52% $3,159.40 $3,032.30 $2,913.76 $2,691.92 $2,509.28 6.04%
Electronics (Consumer & Office) 16 $1,650.22 81.69% $559.09 7.69% $556.47 $547.61 $540.13 $506.66 $488.76 2.73%
Electronics (General) 138 $20,291.38 32.47% $6,940.44 5.08% $6,806.28 $6,715.22 $6,585.93 $6,212.06 $6,050.18 2.78%
Engineering/Construction 43 $108.32 0.25% $37.16 0.03% $37.16 $37.16 $37.16 $21.37 $21.37 11.70%
Entertainment 110 $24,081.48 11.62% $8,443.16 3.98% $8,229.30 $7,740.59 $7,394.56 $7,263.49 $6,462.50 5.49%
Environmental & Waste Services 62 $24.11 0.08% $7.80 0.01% $8.12 $8.16 $8.68 $7.25 $7.48 0.84%
Farming/Agriculture 39 $8,044.39 6.03% $2,846.81 1.12% $2,690.23 $2,594.83 $2,505.38 $2,431.75 $2,391.54 3.55%
Financial Svcs. (Non-bank & Insurance) 223 $10,357.08 0.13% $3,901.42 1.08% $3,623.80 $3,256.10 $2,807.11 $2,400.58 $2,052.80 13.70%
Food Processing 92 $5,111.74 3.06% $1,703.59 0.61% $1,722.58 $1,716.37 $1,717.80 $1,565.68 $1,549.25 1.92%
Food Wholesalers 14 $0.00 0.00% $0.00 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 NA
Furn/Home Furnishings 32 $2,682.58 9.94% $901.45 1.56% $901.00 $897.04 $882.87 $844.75 $781.79 2.89%
Green & Renewable Energy 19 $28.41 0.06% $7.64 0.12% $10.58 $10.32 $10.13 $10.29 $9.61 -4.48%
Healthcare Products 254 $49,166.16 29.64% $16,986.43 8.35% $16,612.72 $16,208.37 $15,580.08 $14,662.49 $13,863.44 4.15%
Healthcare Support Services 131 $4,820.89 2.57% $1,693.72 0.08% $1,645.89 $1,564.70 $1,494.87 $1,368.47 $1,221.84 6.75%
Heathcare Information and Technology 138 $30,360.18 25.09% $10,450.13 6.47% $10,387.45 $9,970.59 $9,443.12 $9,202.46 $8,505.03 4.21%
Homebuilding 32 $0.00 0.00% $0.00 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 NA
Hospitals/Healthcare Facilities 34 $4.08 0.00% $1.16 0.00% $1.41 $1.15 $1.61 $2.30 $3.00 -17.31%
Hotel/Gaming 69 $10,185.01 4.91% $3,394.98 2.33% $3,302.05 $3,226.46 $3,146.84 $4,768.91 $4,566.26 -5.76%
Household Products 127 $10,369.75 11.49% $3,428.62 1.70% $3,412.29 $3,558.04 $3,549.59 $3,283.21 $3,270.49 0.95%
Information Services 73 $23,952.26 19.27% $8,543.83 3.81% $8,135.89 $7,626.78 $7,267.47 $7,083.30 $6,751.00 4.82%
Insurance (General) 21 $300.96 0.27% $103.30 0.08% $102.30 $101.70 $95.40 $83.20 $108.70 -1.01%
Insurance (Life) 27 $0.00 0.00% $0.00 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 NA
Insurance (Prop/Cas.) 51 $0.00 0.00% $0.00 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 NA
Investments & Asset Management 600 $2,479.11 0.70% $848.90 0.60% $839.95 $820.72 $778.49 $772.09 $717.40 3.42%
Machinery 116 $11,119.66 12.09% $3,800.47 2.11% $3,740.38 $3,680.05 $3,606.29 $3,381.72 $3,275.09 3.02%
Metals & Mining 68 $361.41 0.63% $124.17 0.19% $122.98 $120.16 $112.79 $108.19 $105.32 3.35%
Office Equipment & Services 16 $1,129.00 12.10% $379.60 1.90% $381.34 $378.48 $369.53 $347.12 $334.27 2.58%
Oil/Gas (Integrated) 4 $3,401.00 0.79% $1,111.00 0.17% $1,111.00 $1,111.00 $1,111.00 $1,451.00 $1,451.00 -5.20%
Oil/Gas (Production and Exploration) 174 $262.90 0.08% $88.78 0.03% $86.60 $85.70 $84.95 $97.22 $97.05 -1.77%
Oil/Gas Distribution 23 $11.51 0.01% $5.49 0.00% $4.35 $3.16 $1.62 $0.00 $0.00 NA
Oilfield Svcs/Equip. 101 $4,957.41 2.19% $1,672.64 0.21% $1,649.72 $1,625.53 $1,617.90 $1,712.60 $1,708.92 -0.43%
Packaging & Container 25 $1,991.37 2.40% $656.03 0.42% $671.03 $671.03 $666.03 $647.41 $632.41 0.74%
Paper/Forest Products 7 $8.20 0.18% $3.00 0.02% $3.00 $3.00 $2.00 $1.00 $1.00 24.57%
Power 48 $1,026.40 0.11% $351.00 0.09% $351.00 $351.00 $351.00 $218.00 $218.00 9.99%
Precious Metals 74 $558.17 1.61% $223.44 1.32% $181.37 $167.21 $154.21 $138.20 $137.00 10.28%
Publishing & Newspapers 20 $836.02 6.17% $289.36 1.05% $285.78 $271.74 $259.36 $256.23 $237.82 4.00%
R.E.I.T. 223 $58.61 0.00% $20.93 0.01% $20.17 $18.63 $18.26 $15.32 $15.19 6.62%
Real Estate (Development) 18 $0.00 0.00% $0.00 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 NA
Real Estate (General/Diversified) 12 $0.00 0.00% $0.00 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 NA
Real Estate (Operations & Services) 60 $3,871.28 5.61% $1,383.19 1.27% $1,320.77 $1,234.39 $1,208.95 $1,036.30 $933.16 8.19%
Recreation 57 $5,013.86 12.62% $1,711.90 2.85% $1,676.81 $1,673.64 $1,626.23 $1,529.18 $1,424.89 3.74%
Reinsurance 1 $0.00 0.00% $0.00 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 NA
Restaurant/Dining 70 $0.00 0.00% $0.00 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 NA
Retail (Automotive) 30 $43.07 0.04% $17.34 0.01% $14.87 $12.67 $13.27 $4.60 $4.30 32.16%
Retail (Building Supply) 15 $214.32 0.28% $72.40 0.03% $72.10 $72.20 $69.10 $66.40 $61.80 3.22%
Retail (Distributors) 69 $211.07 0.19% $75.52 0.04% $75.53 $74.34 $72.10 $8.48 $7.15 60.25%
Retail (General) 15 $0.00 0.00% $0.00 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 NA
Retail (Grocery and Food) 13 $8.28 0.02% $2.70 0.00% $2.70 $2.70 $2.70 $3.60 $3.60 -5.59%
Retail (Online) 63 $192,433.59 75.21% $69,761.94 12.05% $64,494.74 $60,981.35 $59,151.62 $54,132.04 $51,284.65 6.35%
Retail (Special Lines) 78 $1,128.24 0.74% $391.24 0.09% $368.97 $367.96 $367.08 $371.06 $385.87 0.28%
Rubber& Tires 3 $1,467.11 11.56% $496.11 2.42% $496.10 $496.10 $496.11 $390.10 $390.11 4.92%
Semiconductor 68 $166,926.47 50.67% $58,967.44 18.41% $56,624.73 $53,851.56 $51,245.85 $49,249.80 $47,254.82 4.53%
Semiconductor Equip 30 $21,414.74 47.52% $7,460.79 9.13% $7,168.38 $6,976.98 $6,775.24 $6,614.86 $6,407.86 3.09%
Shipbuilding & Marine 8 $0.00 0.00% $0.00 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 NA
Shoe 13 $209.94 0.65% $71.60 0.10% $71.60 $71.60 $66.90 $56.70 $56.70 4.78%
Software (Entertainment) 91 $207,318.79 57.09% $76,131.64 17.37% $70,362.62 $65,261.56 $60,834.77 $57,031.09 $54,320.75 6.98%
Software (Internet) 33 $14,250.60 50.54% $5,214.23 19.20% $4,877.37 $4,502.50 $4,161.11 $3,842.67 $3,514.26 8.21%
Software (System & Application) 390 $242,200.93 80.66% $85,413.18 17.51% $82,754.65 $78,186.19 $74,184.32 $69,992.92 $66,585.54 5.11%
Steel 28 $139.67 0.19% $47.15 0.03% $47.06 $46.23 $46.15 $43.35 $44.27 1.27%
Telecom (Wireless) 16 $165.08 0.09% $37.61 0.04% $43.30 $44.62 $43.44 $243.41 $243.48 -31.17%
Telecom. Equipment 79 $41,616.70 118.89% $14,078.25 13.30% $13,859.58 $13,824.52 $13,673.99 $13,432.38 $13,214.55 1.27%
Telecom. Services 49 $5,493.91 1.12% $1,887.46 0.58% $1,854.44 $1,835.24 $1,812.36 $1,484.02 $1,464.97 5.20%
Tobacco 15 $2,283.28 8.32% $770.95 1.33% $770.65 $768.91 $769.12 $634.12 $634.74 3.96%
Transportation 18 $74.66 0.08% $26.79 0.01% $25.49 $23.69 $22.59 $21.15 $28.15 -0.99%
Transportation (Railroads) 4 $0.00 0.00% $0.00 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 NA
Trucking 35 $10,899.81 12.20% $3,910.61 2.47% $3,639.02 $3,456.67 $3,389.92 $3,240.02 $3,240.43 3.83%
Utility (General) 15 $98.80 0.03% $25.00 0.02% $25.00 $45.00 $45.00 $44.00 $44.00 -10.69%
Utility (Water) 16 $0.38 0.00% $0.04 0.00% $0.04 $0.04 $0.04 $1.37 $1.37 -50.92%
Total Market 7165 $1,943,121.92 7.80% $677,691.08 3.28% $654,978.66 $634,174.66 $608,002.50 $588,710.60 $565,105.27 3.70%
Total Market (without financials) 5649 $1,926,077.17 14.92% $671,784.56 3.60% $648,866.00 $628,539.24 $603,013.20 $584,354.93 $561,751.17 3.64%

Last updated January 2023
By Aswath Damodaran