Research & Development Expense As Percentage Of Revenue (Historical)
Returns R&D spending as a percentage of total revenue. This metric shows how much a company invests in innovation relative to its sales.
Supported Symbol Formats
| Type | Format | Example |
|---|---|---|
| US Stocks | SYMBOL | AAPL, MSFT |
Parameters
| Parameter | Required | Description |
|---|---|---|
| Symbol | Yes | Stock ticker symbol |
| Year | Yes | Fiscal year (2020, 2021, etc.) or period code (lq, ly) |
| Quarter | No | Calendar quarter 1-4 (default: 1) |
| TTM | No | Enter "TTM" for trailing twelve months |
Industry Benchmarks
| Industry | Typical R&D % |
|---|---|
| Pharmaceuticals | 15-25% |
| Technology | 10-20% |
| Automotive | 4-6% |
| Consumer Goods | 1-3% |
Syntax
=hf_RandD_Expense_as_percentage_of_revenue(Symbol, Year, [Quarter], [TTM])Parameters
symbolstringRequired
Stock ticker symbol
yearstringRequired
Fiscal year or period code
quarterstring
Calendar quarter (1-4)
TTMstring
Use TTM for trailing twelve months
Returns
number
R&D expense as percentage of revenue
Examples
=hf_RandD_Expense_as_percentage_of_revenue("AAPL", 2023, 4)=hf_RandD_Expense_as_percentage_of_revenue("MSFT", 2022, , "TTM")=hf_RandD_Expense_as_percentage_of_revenue("GOOGL", "ly")When to Use
- Analyzing innovation investment trends
- Comparing R&D intensity across companies
- Technology sector analysis
- Future growth potential assessment
When NOT to Use
| Scenario | Use Instead |
|---|---|
| Need SG&A expense ratio | hf_SGandA_expense_as_percentage_of_revenue() |
| Need absolute R&D value | hf_RandD_expense() |
| Need gross margin | hf_Gross_margin() |
Common Issues & FAQ
Why do some companies have 0% R&D?
Not all companies report R&D separately; some include it in other expense categories.
Is higher R&D always better?
Not necessarily. Efficiency of R&D spending matters more than absolute levels.
Related Formulas
More MarketXLS Historical Fundamentals formulas you can use in the same worksheet:
- Restricted Cash (Historical)
- Retun On Invested Capital (ROIC - Historical)
- Return Equity Indicator (Historical)
- Return On Average Assets (ROA - Historical)
- Return On Average Equity (ROE - Historical)
- Return On Sales (Historical)
- Revenue (Historical)
- Revenue Growth (Historical)
See hf_RandD_Expense_as_percentage_of_revenue used in a complete workbook: Research and Development Screener Excel: R&D Intensity Watchlist for the AI Capex Era (May 2026)
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