PHX.TOPHX.TOTSX
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R&D Expenses Over TimeExpanding
Percentile Rank100
3Y CAGR+22.3%
5Y CAGR+28.5%
Studio
Year-over-Year Change

Research and development spending

3Y CAGR
+22.3%/yr
vs +2.6%/yr prior
5Y CAGR
+28.5%/yr
Recent deceleration
Acceleration
+19.7pp
Accelerating
Percentile
P100
Near historical high
vs 5Y Ago
3.5x
Strong expansion
Streak
5 yr
Consecutive growthExpanding
PeriodValueYoY Change
2025$6.82M+27.7%
2024$5.34M+2.4%
2023$5.21M+40.0%
2022$3.72M+34.2%
2021$2.77M+42.7%
2020$1.94M-49.8%
2019$3.87M+15.4%
2018$3.35M+36.2%
2017$2.46M+23.1%
2016$2.00M-