Caterpillar (CAT) Operating Expenses (2009 - 2026)
Caterpillar (CAT) posted quarterly Operating Expenses of $14.3 billion for Q1 2026, up 22.79% year-over-year from $11.7 billion in Q1 2025, and down 13.01% quarter-over-quarter from $16.5 billion in Q4 2025.
Caterpillar (CAT) Operating Expenses (2009 - 2026) Analysis & Trends
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.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Caterpillar | 391.02 Bn | 384.30 Bn | 7.76 Bn | 16.25 Bn |
| 2 | Deere | 166.44 Bn | 158.53 Bn | 13.06 Bn | 11.08 Bn |
| 3 | Paccar | 69.49 Bn | 60.82 Bn | 1.56 Bn | 6.23 Bn |
| 4 | CNH Industrial | 13.35 Bn | 11.48 Bn | 1.41 Bn | 751.00 Mn |
| 5 | Oshkosh | 9.80 Bn | 9.40 Bn | 480.30 Mn | 237.10 Mn |
| 6 | Terex | 7.68 Bn | 7.27 Bn | 444.00 Mn | 209.00 Mn |
| 7 | Agco | 7.24 Bn | 6.67 Bn | 645.90 Mn | 335.70 Mn |
| 8 | Blue Bird | 2.25 Bn | 2.13 Bn | 103.37 Mn | 40.71 Mn |
| 9 | Alamo | 2.08 Bn | 1.89 Bn | 110.86 Mn | 60.08 Mn |
| 10 | Lindsay | 1.19 Bn | 1.04 Bn | 47.83 Mn | 29.32 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 16.25 Bn |
| Mar 31, 2026 | 14.33 Bn |
| Dec 31, 2025 | 16.47 Bn |
| Sep 30, 2025 | 14.59 Bn |
| Jun 30, 2025 | 13.71 Bn |
| Mar 31, 2025 | 11.67 Bn |
| Dec 31, 2024 | 13.29 Bn |
| Sep 30, 2024 | 12.96 Bn |
| Jun 30, 2024 | 13.21 Bn |
| Mar 31, 2024 | 12.28 Bn |
| Dec 31, 2023 | 13.94 Bn |
| Sep 30, 2023 | 13.36 Bn |
| Jun 30, 2023 | 13.67 Bn |
| Mar 31, 2023 | 13.13 Bn |
| Dec 31, 2022 | 14.92 Bn |
| Sep 30, 2022 | 12.57 Bn |
| Jun 30, 2022 | 12.30 Bn |
| Mar 31, 2022 | 11.73 Bn |
| Dec 31, 2021 | 12.19 Bn |
| Sep 30, 2021 | 10.73 Bn |