Elbit Systems (ESLT) Operating Expenses (2009 - 2025)
Elbit Systems (ESLT) posted quarterly Operating Expenses of $337.3 million for Q4 2025, up 4.18% year-over-year from $323.8 million in Q4 2024, and up 165.78% quarter-over-quarter from $126.9 million in Q3 2025.
Elbit Systems (ESLT) Operating Expenses (2009 - 2025) Analysis & Trends
Elbit Systems (ESLT) has reported Operating Expenses for 17 consecutive years, with $337.3 million the latest figure, recorded in Q4 2025.
- In Q4 2025, Operating Expenses rose 4.18% year-over-year to $337.3 million; the TTM figure through Dec 2025 stood at $1.1 billion (up 15.21% YoY), while the FY2025 annual figure was $1.3 billion, up 9.63% from the prior year.
- Operating Expenses rose to $337.3 million in Q4 2025 per ESLT's latest filing, from $126.9 million in the prior quarter.
- Across five years, Operating Expenses topped out at $337.3 million in Q4 2025 and bottomed at $75.0 million in Q3 2024.
- Historically, Operating Expenses has averaged $254.2 million across 5 years, with a median of $267.3 million in 2021.
- Annual changes were most pronounced in 2024 — Operating Expenses sank 71.27% — and 2025, when it jumped 69.16%.
- Elbit Systems' Operating Expenses stood at $267.1 million in 2021, then retreated by 2.54% to $260.3 million in 2022, then gained by 20.83% to $314.5 million in 2023, then rose by 2.95% to $323.8 million in 2024, then gained by 4.18% to $337.3 million in 2025.
- Business Quant data shows ESLT's Operating Expenses at $337.3 million in Q4 2025, $126.9 million in Q3 2025, and $315.1 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | General Electric | 362.01 Bn | 352.67 Bn | 6.95 Bn | 10.86 Bn |
| 2 | Rtx | 286.16 Bn | 277.85 Bn | 9.91 Bn | 21.96 Bn |
| 3 | Boeing | 169.16 Bn | 149.13 Bn | 2.41 Bn | 2.35 Bn |
| 4 | Lockheed Martin | 131.08 Bn | 127.28 Bn | 2.45 Bn | - |
| 5 | Howmet Aerospace | 109.48 Bn | 108.91 Bn | 951.00 Mn | 156.00 Mn |
| 6 | General Dynamics | 104.24 Bn | 99.91 Bn | 6.76 Bn | 12.63 Bn |
| 7 | Northrop Grumman | 79.39 Bn | 77.09 Bn | 3.72 Bn | 9.78 Bn |
| 8 | TransDigm | 68.76 Bn | 65.98 Bn | 1.63 Bn | 332.00 Mn |
| 9 | L3Harris Technologies | 50.12 Bn | 48.60 Bn | 1.50 Bn | 848.00 Mn |
| 10 | Elbit Systems | 33.99 Bn | 33.18 Bn | 529.79 Mn | 337.33 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 337.33 Mn |
| Sep 30, 2025 | 126.92 Mn |
| Jun 30, 2025 | 315.09 Mn |
| Mar 31, 2025 | 304.60 Mn |
| Dec 31, 2024 | 323.81 Mn |
| Sep 30, 2024 | 75.03 Mn |
| Jun 30, 2024 | 273.20 Mn |
| Mar 31, 2024 | 268.79 Mn |
| Dec 31, 2023 | 314.53 Mn |
| Sep 30, 2023 | 261.12 Mn |
| Jun 30, 2023 | 270.57 Mn |
| Mar 31, 2023 | 267.62 Mn |
| Dec 31, 2022 | 260.30 Mn |
| Sep 30, 2022 | 252.56 Mn |
| Jun 30, 2022 | 224.61 Mn |
| Mar 31, 2022 | 268.33 Mn |
| Dec 31, 2021 | 267.08 Mn |
| Sep 30, 2021 | 252.89 Mn |
| Jun 30, 2021 | 222.07 Mn |
| Mar 31, 2021 | 197.50 Mn |