Caterpillar (CAT) Operating Expenses (2009 - 2026)

Caterpillar's Operating Expenses history runs 18 years deep, the most recent figure standing at $14.3 billion for Q1 2026.

• In Q1 2026, Operating Expenses rose 22.79% year-over-year to $14.3 billion; the TTM figure through Mar 2026 stood at $59.1 billion (up 15.59% YoY), while the FY2025 annual figure was $56.4 billion, up 9.09% from the prior year.
• Operating Expenses was $14.3 billion for Q1 2026 at Caterpillar, down from $16.5 billion in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $16.5 billion in Q4 2025 to a low of $11.7 billion in Q1 2025.
• Historically, Operating Expenses has averaged $13.4 billion across 5 years, with a median of $13.3 billion in 2024.
• The sharpest annual moves came in 2023 and 2025: Operating Expenses dropped 6.58% in 2023, then grew 23.94% in 2025.
• A 5-year view of Operating Expenses shows it stood at $14.9 billion in 2022, then declined by 6.58% to $13.9 billion in 2023, then declined by 4.63% to $13.3 billion in 2024, then increased by 23.94% to $16.5 billion in 2025, then slipped by 13.01% to $14.3 billion in 2026.
• The last three Operating Expenses figures came in at $14.3 billion (Q1 2026), $16.5 billion (Q4 2025), and $14.6 billion (Q3 2025), per Business Quant data.