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Caterpillar (CAT) Operating Expenses (2016 - 2025)

Caterpillar has reported Operating Expenses over the past 17 years, most recently at $16.5 billion for Q4 2025.

  • Quarterly results put Operating Expenses at $16.5 billion for Q4 2025, up 23.94% from a year ago — trailing twelve months through Dec 2025 was $56.4 billion (up 9.09% YoY), and the annual figure for FY2025 was $56.4 billion, up 9.09%.
  • Operating Expenses for Q4 2025 was $16.5 billion at Caterpillar, up from $14.6 billion in the prior quarter.
  • Over the last five years, Operating Expenses for CAT hit a ceiling of $16.5 billion in Q4 2025 and a floor of $10.1 billion in Q1 2021.
  • Median Operating Expenses over the past 5 years was $13.0 billion (2023), compared with a mean of $12.9 billion.
  • Biggest five-year swings in Operating Expenses: fell 6.58% in 2023 and later rose 23.94% in 2025.
  • Caterpillar's Operating Expenses stood at $12.2 billion in 2021, then increased by 22.4% to $14.9 billion in 2022, then fell by 6.58% to $13.9 billion in 2023, then fell by 4.63% to $13.3 billion in 2024, then rose by 23.94% to $16.5 billion in 2025.
  • The last three reported values for Operating Expenses were $16.5 billion (Q4 2025), $14.6 billion (Q3 2025), and $13.7 billion (Q2 2025) per Business Quant data.