Fuel Tech (FTEK) Research & Development (2009 - 2026)
Fuel Tech (FTEK) posted Research & Development of $771,000 for Q3 2026, up 71.3% from $450,000 a year earlier and up 19.3% from the prior quarter.
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Analysis
Fuel Tech (FTEK) Research & Development (2009 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Research & Development at Fuel Tech was $2.45 million, up 27.7% year-over-year; for FY2025, it was $2.01 million, up 28.8% from FY2024.
- Annual Research & Development has increased for three consecutive years, with a five-year compound annual growth rate of 11.3% (FY2020 to FY2025).
- In prior years, Fuel Tech's Research & Development was $1.56 million in FY2024 (+3.5%), $1.51 million in FY2023 (+68.8%), $895,000 in FY2022 (-32.8%) and $1.33 million in FY2021 (+13.2%).
- The Q3 2026 figure stands as the highest quarterly Research & Development since Q1 2016.
- On a year-over-year basis, Research & Development increased in seven of the last eight quarters, with growth averaging 27.8%.
- The strongest year-over-year quarter for Research & Development in the past five years was Q3 2023, with growth of 147.8%; the weakest was Q1 2022, with a decline of 47.0%.
- According to Business Quant data, Research & Development for the three prior quarters was $646,000 (Q2 2026), $524,000 (Q1 2026) and $504,000 (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Ecolab | 85.84 Bn | 78.85 Bn | 2.07 Bn | - |
| 2 | Veralto | 28.78 Bn | 21.41 Bn | 908.00 Mn | 69.00 Mn |
| 3 | Xylem | 22.22 Bn | 18.19 Bn | 907.00 Mn | 56.00 Mn |
| 4 | Badger Meter | 4.49 Bn | 3.89 Bn | 98.85 Mn | - |
| 5 | Ceco Environmental | 3.04 Bn | 2.84 Bn | 130.10 Mn | - |
| 6 | NWPX Infrastructure | 868.49 Mn | 826.57 Mn | 38.19 Mn | - |
| 7 | Energy Recovery | 373.27 Mn | 35.71 Mn | 4.20 Mn | 3.12 Mn |
| 8 | Cadiz | 280.26 Mn | 245.37 Mn | -24,000.00 | - |
| 9 | AirJoule Technologies | 174.57 Mn | 54.19 Mn | - | 172,807.00 |
| 10 | Fuel Tech | 42.77 Mn | -41.13 Mn | 3.91 Mn | 771,000.00 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 771,000.00 |
| Jun 30, 2026 | 646,000.00 |
| Mar 31, 2026 | 524,000.00 |
| Dec 31, 2025 | 504,000.00 |
| Sep 30, 2025 | 450,000.00 |
| Jun 30, 2025 | 490,000.00 |
| Mar 31, 2025 | 570,000.00 |
| Dec 31, 2024 | 405,000.00 |
| Sep 30, 2024 | 361,000.00 |
| Jun 30, 2024 | 422,000.00 |
| Mar 31, 2024 | 376,000.00 |
| Dec 31, 2023 | 367,000.00 |
| Sep 30, 2023 | 513,000.00 |
| Jun 30, 2023 | 413,000.00 |
| Mar 31, 2023 | 218,000.00 |
| Dec 31, 2022 | 179,000.00 |
| Sep 30, 2022 | 207,000.00 |
| Jun 30, 2022 | 289,000.00 |
| Mar 31, 2022 | 220,000.00 |
| Dec 31, 2021 | 262,000.00 |
API Access
Fuel Tech Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=FTEK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "FTEK", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=FTEK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();