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 for Q1 2026 stood at $14.3 billion, down from $16.5 billion in the prior quarter.
• The five-year high for Operating Expenses was $16.5 billion in Q4 2025, with the low at $11.7 billion in Q1 2025.
• The 5-year median for Operating Expenses is $13.3 billion (2024), against an average of $13.4 billion.
• The sharpest annual moves came in 2023 and 2025: Operating Expenses slipped 6.58% in 2023, then climbed 23.94% in 2025.
• Caterpillar's Operating Expenses stood at $14.9 billion in 2022, then dropped by 6.58% to $13.9 billion in 2023, then dropped by 4.63% to $13.3 billion in 2024, then grew by 23.94% to $16.5 billion in 2025, then decreased by 13.01% to $14.3 billion in 2026.
• Business Quant data shows CAT's Operating Expenses at $14.3 billion in Q1 2026, $16.5 billion in Q4 2025, and $14.6 billion in Q3 2025.