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
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% |