What is Fuel Tech's R&D?

Fuel Tech (FTEK) reported R&D of $503.5K in Q4 2025.

How has Fuel Tech's R&D changed year-over-year?

Fuel Tech's R&D increased by 28.8% year-over-year, from $391K to $503.5K.

What is the long-term trend for Fuel Tech's R&D?

Over 4 years (2021 to 2025), Fuel Tech's R&D has grown at a 10.9% compound annual growth rate (CAGR), from $1.33M to $2.01M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Fuel Tech FTEK R&D

Discontinued — last reported Q4 '25

R&D at other companies

Arq, Inc.ARQ

$982K+12.4%

Flotek IndustriesFTK

$396K+11.5%

InnospecIOSP

$13.2M+3.9%

Minerals TechnologiesMTX

$6.1M+5.2%

Cabot CorporationCBT

$14M-6.7%

OkloOKLO

$27.05M+245%

Segments

By segment

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Air Pollution Control-$0—

FUELCHEM-$0—

Other financials

Income statement

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Revenue$6.1M-4.7%

Gross profit$3.1M+16.6%

Operating income-$920.3K+21.7%

Net income-$1.4M-133%

EPS (diluted)-$0.02-33.3%

Balance sheet

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Cash & equivalents$9.1M-22.9%

Total debt$557.0K-8.2%

Total equity$38.6M-7.0%

Total assets$44.5M-4.8%

Cash flow

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Operating cash flow-$847.0K-156%

CapEx$322.0K+395%

Free cash flow-$1.2M-181%

Valuation

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Market cap$68.88M-24.9%

Enterprise value$60.32M-26.4%

P/S2.6×-1.0×

Profitability

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Gross margin46.4%+4.2pp

Operating margin-13.8%-2.9pp

Net margin-11.7%+13.3pp

FCF margin-9.5%—

Returns & leverage

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Return on equity-7.7%+12.8pp

Debt / equity0×0.0×

Current ratio5.4×-1.4×

Where this comes from

Reported directly by Fuel Tech in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Fuel Tech’s 10-K, filed March 3, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Fuel Tech's R&D?: Fuel Tech (FTEK) reported R&D of $503.5K in Q4 2025.
How has Fuel Tech's R&D changed year-over-year?: Fuel Tech's R&D increased by 28.8% year-over-year, from $391K to $503.5K.
What is the long-term trend for Fuel Tech's R&D?: Over 4 years (2021 to 2025), Fuel Tech's R&D has grown at a 10.9% compound annual growth rate (CAGR), from $1.33M to $2.01M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.