R&D Statistics by Sector (US)Data Used: Multiple data services
Date of Analysis: Data used is as of January 2026
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 | 52 | $3,315.47 | 24.52% | $1,131.51 | 3.07% | $1,115.61 | $1,090.63 | $1,057.03 | $1,071.40 | $1,056.23 | 1.39% |
| Aerospace/Defense | 79 | $60,092.53 | 27.37% | $20,116.79 | 4.02% | $20,135.49 | $19,912.69 | $19,842.03 | $19,914.62 | $19,061.76 | 1.08% |
| Air Transport | 23 | $2,746.53 | 2.00% | $938.90 | 0.38% | $918.24 | $900.94 | $884.66 | $893.10 | $875.56 | 1.41% |
| Apparel | 35 | $31.20 | 0.09% | $8.78 | 0.01% | $8.78 | $9.61 | $9.60 | $29.00 | $29.02 | -21.27% |
| Auto & Truck | 33 | $77,243.34 | 16.08% | $26,362.07 | 5.30% | $25,658.62 | $25,206.96 | $25,089.26 | $25,972.42 | $26,264.43 | 0.07% |
| Auto Parts | 35 | $13,094.19 | 34.77% | $4,353.77 | 4.95% | $4,382.85 | $4,410.83 | $4,510.25 | $3,917.70 | $3,846.60 | 2.51% |
| Bank (Money Center) | 15 | $0.00 | 0.00% | $0.00 | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | NA |
| Banks (Regional) | 568 | $0.00 | 0.00% | $0.00 | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | NA |
| Beverage (Alcoholic) | 14 | $0.51 | 0.00% | $0.17 | 0.00% | $0.17 | $0.17 | $0.17 | $0.16 | $0.16 | 0.96% |
| Beverage (Soft) | 27 | $2,650.54 | 1.93% | $884.40 | 0.49% | $884.40 | $884.40 | $884.40 | $871.12 | $871.62 | 0.29% |
| Broadcasting | 24 | $15.16 | 0.03% | $5.20 | 0.01% | $5.20 | $5.20 | $5.20 | $3.00 | $3.00 | 11.63% |
| Brokerage & Investment Banking | 32 | $2,850.98 | 0.21% | $979.19 | 0.27% | $947.19 | $942.51 | $924.23 | $894.22 | $901.39 | 1.67% |
| Building Materials | 41 | $4,676.19 | 7.22% | $1,579.22 | 1.26% | $1,565.89 | $1,534.75 | $1,565.98 | $1,485.07 | $1,442.45 | 1.83% |
| Business & Consumer Services | 155 | $9,387.71 | 9.01% | $3,188.65 | 1.18% | $3,150.75 | $3,107.72 | $3,063.37 | $2,942.41 | $2,925.17 | 1.74% |
| Cable TV | 9 | $929.80 | 0.31% | $289.00 | 0.13% | $295.00 | $323.00 | $343.00 | $369.00 | $380.00 | -5.33% |
| Chemical (Basic) | 29 | $3,505.75 | 4.45% | $1,150.25 | 1.00% | $1,171.34 | $1,178.97 | $1,182.91 | $1,189.43 | $1,176.18 | -0.44% |
| Chemical (Diversified) | 4 | $695.17 | 7.49% | $232.36 | 1.90% | $234.44 | $231.52 | $231.56 | $218.59 | $228.17 | 0.36% |
| Chemical (Specialty) | 59 | $16,196.62 | 8.04% | $5,438.79 | 2.61% | $5,404.07 | $5,389.53 | $5,366.75 | $5,270.73 | $5,280.06 | 0.59% |
| Coal & Related Energy | 16 | $71.08 | 0.71% | $22.09 | 0.26% | $24.02 | $23.88 | $26.28 | $24.68 | $24.08 | -1.71% |
| Computer Services | 64 | $25,045.62 | 34.75% | $8,631.04 | 2.53% | $8,426.87 | $8,169.68 | $8,028.36 | $7,799.68 | $7,608.06 | 2.56% |
| Computers/Peripherals | 36 | $138,928.35 | 71.45% | $47,720.73 | 7.08% | $46,046.85 | $45,931.59 | $45,260.39 | $43,535.15 | $43,186.86 | 2.02% |
| Construction Supplies | 40 | $14,657.29 | 9.65% | $4,860.48 | 2.43% | $4,851.09 | $4,874.42 | $4,930.34 | $5,095.75 | $5,086.51 | -0.91% |
| Diversified | 20 | $8,668.34 | 1.21% | $2,999.95 | 0.66% | $2,842.90 | $2,758.90 | $2,645.90 | $3,401.83 | $3,125.32 | -0.82% |
| Drugs (Biotechnology) | 496 | $283,090.52 | 109.93% | $93,878.31 | 42.89% | $91,685.90 | $95,572.64 | $100,320.12 | $91,959.30 | $87,744.69 | 1.36% |
| Drugs (Pharmaceutical) | 228 | $254,827.14 | 67.42% | $81,364.60 | 20.94% | $83,725.89 | $81,916.26 | $94,298.87 | $98,062.63 | $93,489.36 | -2.74% |
| Education | 32 | $3,221.14 | 21.49% | $1,109.14 | 3.98% | $1,114.96 | $1,118.98 | $790.22 | $1,162.80 | $1,079.01 | 0.55% |
| Electrical Equipment | 112 | $15,489.87 | 19.92% | $5,308.75 | 3.95% | $5,108.07 | $5,063.80 | $5,051.35 | $5,179.24 | $4,799.44 | 2.04% |
| Electronics (Consumer & Office) | 8 | $1,446.69 | 413.74% | $453.51 | 17.90% | $473.11 | $504.34 | $522.84 | $514.74 | $507.54 | -2.23% |
| Electronics (General) | 114 | $21,563.18 | 26.43% | $7,264.80 | 4.23% | $7,203.08 | $7,115.47 | $7,087.43 | $7,158.32 | $6,999.05 | 0.75% |
| Engineering/Construction | 48 | $205.89 | 0.44% | $70.32 | 0.04% | $67.89 | $68.35 | $67.96 | $65.31 | $57.81 | 4.00% |
| Entertainment | 92 | $27,726.93 | 14.01% | $9,517.27 | 3.68% | $9,313.10 | $9,087.44 | $8,890.79 | $8,752.00 | $8,668.53 | 1.89% |
| Environmental & Waste Services | 53 | $1,021.51 | 2.55% | $336.55 | 0.43% | $344.30 | $344.70 | $341.81 | $329.91 | $316.31 | 1.25% |
| Farming/Agriculture | 35 | $10,120.97 | 6.28% | $3,385.16 | 1.52% | $3,339.19 | $3,367.18 | $3,394.16 | $3,432.42 | $3,430.59 | -0.27% |
| Financial Svcs. (Non-bank & Insurance) | 176 | $38,063.09 | 0.45% | $13,233.81 | 2.26% | $12,962.21 | $12,177.58 | $12,045.85 | $11,673.14 | $11,383.26 | 3.06% |
| Food Processing | 78 | $5,232.65 | 3.07% | $1,739.32 | 0.60% | $1,720.32 | $1,720.27 | $1,730.20 | $1,964.15 | $1,963.50 | -2.40% |
| Food Wholesalers | 13 | $0.00 | 0.00% | $0.00 | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | NA |
| Furn/Home Furnishings | 27 | $3,102.36 | 10.73% | $1,019.88 | 1.90% | $1,026.96 | $1,037.62 | $1,043.17 | $1,105.35 | $1,089.78 | -1.32% |
| Green & Renewable Energy | 15 | $21.01 | 0.05% | $6.66 | 0.10% | $7.19 | $7.48 | $6.50 | $7.56 | $7.14 | -1.38% |
| Healthcare Products | 204 | $60,264.59 | 26.31% | $20,555.92 | 7.20% | $20,150.19 | $19,889.64 | $19,613.40 | $19,046.86 | $18,937.33 | 1.65% |
| Healthcare Support Services | 104 | $4,919.95 | 1.96% | $1,820.72 | 0.07% | $1,761.44 | $1,456.36 | $1,375.44 | $1,330.48 | $1,163.88 | 9.36% |
| Heathcare Information and Technology | 115 | $31,812.44 | 25.56% | $10,588.20 | 6.89% | $10,584.43 | $10,800.58 | $10,548.21 | $10,285.35 | $10,401.74 | 0.36% |
| Homebuilding | 30 | $0.00 | 0.00% | $0.00 | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | NA |
| Hospitals/Healthcare Facilities | 31 | $244.42 | 0.24% | $81.74 | 0.05% | $81.19 | $81.43 | $81.48 | $81.39 | $81.21 | 0.13% |
| Hotel/Gaming | 63 | $19,589.55 | 8.01% | $6,683.88 | 2.84% | $6,562.51 | $6,446.74 | $6,360.59 | $6,216.89 | $6,028.02 | 2.09% |
| Household Products | 110 | $12,682.75 | 12.37% | $4,246.82 | 1.99% | $4,240.20 | $4,202.34 | $4,204.27 | $4,203.31 | $4,160.26 | 0.41% |
| Information Services | 15 | $2,527.78 | 16.11% | $841.90 | 2.08% | $850.60 | $842.50 | $824.00 | $851.50 | $799.30 | 1.04% |
| Insurance (General) | 21 | $319.21 | 0.86% | $105.70 | 0.19% | $106.62 | $105.82 | $108.14 | $107.29 | $110.69 | -0.92% |
| Insurance (Life) | 20 | $0.00 | 0.00% | $0.00 | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | NA |
| Insurance (Prop/Cas.) | 57 | $8.71 | 0.00% | $2.96 | 0.00% | $2.96 | $2.96 | $2.96 | $2.11 | $0.00 | NA |
| Investments & Asset Management | 283 | $2,613.81 | 0.58% | $936.76 | 0.47% | $898.00 | $824.84 | $785.06 | $748.60 | $694.73 | 6.16% |
| Machinery | 105 | $11,832.53 | 11.08% | $3,998.05 | 2.03% | $3,948.44 | $3,922.36 | $3,909.73 | $3,792.05 | $3,815.23 | 0.94% |
| Metals & Mining | 73 | $339.35 | 0.51% | $109.38 | 0.18% | $112.47 | $117.39 | $116.58 | $114.71 | $107.28 | 0.39% |
| Office Equipment & Services | 14 | $877.31 | 11.31% | $287.39 | 2.12% | $289.41 | $295.30 | $301.11 | $303.83 | $302.27 | -1.00% |
| Oil/Gas (Integrated) | 4 | $3,991.80 | 0.68% | $1,340.00 | 0.25% | $1,340.00 | $1,340.00 | $1,340.00 | $1,199.00 | $1,199.00 | 2.25% |
| Oil/Gas (Production and Exploration) | 142 | $1,958.89 | 0.38% | $531.87 | 0.22% | $637.04 | $756.20 | $759.34 | $799.68 | $610.24 | -2.71% |
| Oil/Gas Distribution | 23 | $20.75 | 0.01% | $6.21 | 0.01% | $5.72 | $6.88 | $9.08 | $11.02 | $9.75 | -8.63% |
| Oilfield Svcs/Equip. | 97 | $6,404.23 | 2.47% | $2,076.60 | 0.32% | $2,106.93 | $2,113.35 | $2,137.82 | $2,594.74 | $2,430.55 | -3.10% |
| Packaging & Container | 19 | $1,437.75 | 1.89% | $465.42 | 0.42% | $477.42 | $486.42 | $494.42 | $503.86 | $508.86 | -1.77% |
| Paper/Forest Products | 6 | $53.20 | 0.80% | $23.00 | 0.21% | $15.00 | $14.00 | $14.00 | $21.00 | $23.00 | 0.00% |
| Power | 46 | $1,333.74 | 0.11% | $457.50 | 0.12% | $447.60 | $446.90 | $442.70 | $364.70 | $378.40 | 3.87% |
| Precious Metals | 56 | $547.75 | 0.91% | $171.00 | 0.47% | $178.00 | $186.92 | $197.00 | $217.00 | $223.00 | -5.17% |
| Publishing & Newspapers | 19 | $1,055.25 | 8.97% | $362.52 | 1.51% | $352.45 | $346.26 | $338.18 | $338.69 | $334.04 | 1.65% |
| R.E.I.T. | 190 | $64.78 | 0.00% | $22.02 | 0.01% | $20.78 | $21.96 | $21.46 | $21.90 | $20.95 | 1.00% |
| Real Estate (Development) | 14 | $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) | 54 | $4,640.17 | 10.21% | $1,597.87 | 1.43% | $1,549.13 | $1,510.16 | $1,501.33 | $1,481.81 | $1,466.64 | 1.73% |
| Recreation | 49 | $4,665.21 | 10.93% | $1,572.96 | 2.85% | $1,532.10 | $1,541.81 | $1,556.81 | $1,593.81 | $1,626.00 | -0.66% |
| Reinsurance | 1 | $0.00 | 0.00% | $0.00 | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | NA |
| Restaurant/Dining | 64 | $3,883.78 | 2.88% | $1,386.70 | 0.74% | $1,299.30 | $1,232.00 | $1,196.80 | $1,198.60 | $1,146.50 | 3.88% |
| Retail (Automotive) | 34 | $47.63 | 0.04% | $17.52 | 0.01% | $14.64 | $13.82 | $16.87 | $16.82 | $30.20 | -10.32% |
| Retail (Building Supply) | 14 | $1,240.50 | 1.31% | $401.50 | 0.14% | $411.80 | $418.00 | $422.50 | $448.80 | $452.30 | -2.35% |
| Retail (Distributors) | 62 | $162.55 | 0.12% | $57.21 | 0.02% | $54.17 | $53.11 | $50.79 | $49.11 | $46.07 | 4.43% |
| Retail (General) | 23 | $290,650.06 | 42.31% | $103,365.10 | 5.23% | $97,140.10 | $92,812.20 | $90,722.30 | $87,983.20 | $87,424.20 | 3.41% |
| Retail (Grocery and Food) | 15 | $1,896.00 | 3.24% | $645.60 | 0.23% | $617.50 | $636.50 | $607.50 | $657.50 | $2,355.00 | -22.80% |
| Retail (REITs) | 26 | $13.50 | 0.01% | $4.50 | 0.02% | $4.50 | $4.50 | $4.50 | $4.50 | $4.50 | 0.00% |
| Retail (Special Lines) | 94 | $768.35 | 0.70% | $254.04 | 0.08% | $255.98 | $256.01 | $261.95 | $255.72 | $255.76 | -0.13% |
| Rubber& Tires | 3 | $1,285.00 | 11.27% | $426.00 | 2.33% | $426.00 | $426.00 | $426.00 | $461.00 | $461.00 | -1.57% |
| Semiconductor | 66 | $225,848.81 | 46.37% | $78,060.36 | 15.36% | $75,659.49 | $73,618.40 | $72,235.22 | $70,978.66 | $68,423.12 | 2.67% |
| Semiconductor Equip | 31 | $28,885.69 | 48.02% | $9,882.90 | 10.72% | $9,701.47 | $9,474.10 | $9,277.26 | $9,231.26 | $9,076.15 | 1.72% |
| Shipbuilding & Marine | 8 | $0.00 | 0.00% | $0.00 | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | NA |
| Shoe | 11 | $241.56 | 1.03% | $82.30 | 0.14% | $82.30 | $82.30 | $74.80 | $70.60 | $70.60 | 3.11% |
| Software (Entertainment) | 77 | $322,655.48 | 52.99% | $114,814.55 | 18.61% | $108,008.84 | $103,485.43 | $99,898.89 | $96,915.20 | $93,824.50 | 4.12% |
| Software (Internet) | 29 | $21,662.76 | 54.97% | $7,182.33 | 19.76% | $7,820.47 | $7,181.23 | $6,595.64 | $6,385.33 | $6,172.87 | 3.08% |
| Software (System & Application) | 309 | $294,171.48 | 46.64% | $101,635.53 | 15.98% | $98,434.10 | $96,337.37 | $94,300.62 | $91,329.97 | $88,281.13 | 2.86% |
| Steel | 19 | $1.37 | 0.00% | $0.44 | 0.00% | $0.44 | $0.44 | $0.44 | $0.66 | $0.66 | -7.80% |
| Telecom (Wireless) | 12 | $189.22 | 0.11% | $69.30 | 0.07% | $63.10 | $61.10 | $56.30 | $51.30 | $50.40 | 6.58% |
| Telecom. Equipment | 57 | $45,802.27 | 102.09% | $15,783.92 | 14.36% | $15,384.43 | $15,068.99 | $14,609.41 | $14,128.27 | $13,726.38 | 2.83% |
| Telecom. Services | 39 | $3,915.09 | 0.77% | $1,320.92 | 0.46% | $1,307.55 | $1,297.44 | $1,287.58 | $1,273.16 | $1,256.97 | 1.00% |
| Tobacco | 10 | $2,888.52 | 7.34% | $976.37 | 1.48% | $976.31 | $976.72 | $975.92 | $773.50 | $840.01 | 3.05% |
| Transportation | 19 | $11,019.19 | 6.71% | $3,783.20 | 1.25% | $3,686.99 | $3,593.75 | $3,550.84 | $3,549.01 | $3,573.61 | 1.15% |
| Transportation (Railroads) | 4 | $0.00 | 0.00% | $0.00 | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | NA |
| Trucking | 26 | $350.34 | 0.59% | $117.70 | 0.14% | $114.80 | $115.50 | $119.70 | $118.10 | $159.20 | -5.86% |
| Utility (General) | 14 | $0.00 | 0.00% | $0.00 | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | NA |
| Utility (Water) | 14 | $8.11 | 0.02% | $2.06 | 0.02% | $2.10 | $2.15 | $5.07 | $5.26 | $4.13 | -12.99% |
| Total Market | 5994 | $2,481,728.45 | 8.17% | $848,737.84 | 3.74% | $825,878.91 | $810,896.17 | $815,182.94 | $798,383.05 | $777,976.23 | 1.76% |
| Total Market (without financials) | 4822 | $2,437,872.66 | 15.52% | $833,479.42 | 4.14% | $810,961.93 | $796,842.45 | $801,316.70 | $784,957.69 | $764,886.15 | 1.73% |