Elbit Systems (ESLT) Operating Expenses (2009 - 2025)
Elbit Systems (ESLT) reported 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% on a QoQ basis from $126.9 million in Q3 2025.
Elbit Systems (ESLT) has 17 years of Operating Expenses data on file, last reported at $337.3 million in Q4 2025.
- Quarterly Operating Expenses rose 4.18% year-over-year to $337.3 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $1.1 billion (up 15.21% YoY) and the FY2025 annual result came in at $1.3 billion, up 9.63% from the prior year.
- Operating Expenses climbed 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.
- The 5-year median for Operating Expenses is $267.3 million (2021), against an average of $254.2 million.
- The widest annual swing landed in 2024, when Operating Expenses tumbled 71.27%; it then surged 69.16% in 2025.
- Tracing ESLT's Operating Expenses over 5 years: stood at $267.1 million in 2021, then dropped by 2.54% to $260.3 million in 2022, then grew by 20.83% to $314.5 million in 2023, then climbed by 2.95% to $323.8 million in 2024, then grew by 4.18% to $337.3 million in 2025.
- Per Business Quant, the three latest ESLT Operating Expenses figures stand at $337.3 million (Q4 2025), $126.9 million (Q3 2025), and $315.1 million (Q2 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | General Electric | 316.77 Bn | 306.03 Bn | 9.11 Bn | 10.18 Bn |
| 2 | Rtx | 238.61 Bn | 233.51 Bn | 9.08 Bn | 19.59 Bn |
| 3 | Boeing | 172.59 Bn | 151.68 Bn | 2.55 Bn | 2.10 Bn |
| 4 | Lockheed Martin | 122.59 Bn | 120.70 Bn | 2.08 Bn | - |
| 5 | Howmet Aerospace | 102.88 Bn | 100.44 Bn | 854.00 Mn | 120.00 Mn |
| 6 | General Dynamics | 92.64 Bn | 88.99 Bn | 9.09 Bn | 12.06 Bn |
| 7 | Rocket Lab | 82.19 Bn | 80.92 Bn | 76.49 Mn | 132.46 Mn |
| 8 | Northrop Grumman | 78.95 Bn | 76.86 Bn | 3.45 Bn | 8.89 Bn |
| 9 | TransDigm | 70.63 Bn | 66.75 Bn | 1.51 Bn | 273.00 Mn |
| 10 | Elbit Systems | 35.10 Bn | 34.65 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 |
| Dec 31, 2020 | 253.21 Mn |
| Sep 30, 2020 | 213.86 Mn |
| Jun 30, 2020 | 163.38 Mn |
| Mar 31, 2020 | 208.98 Mn |
| Dec 31, 2019 | 220.69 Mn |
| Sep 30, 2019 | 184.47 Mn |
| Jun 30, 2019 | 208.10 Mn |
| Mar 31, 2019 | 201.59 Mn |
| Dec 31, 2018 | 196.21 Mn |
| Sep 30, 2018 | 176.87 Mn |
| Jun 30, 2018 | 138.18 Mn |
| Mar 31, 2018 | 172.09 Mn |
| Dec 31, 2017 | 179.86 Mn |
| Sep 30, 2017 | 168.82 Mn |
| Jun 30, 2017 | 167.01 Mn |
| Mar 31, 2017 | 162.94 Mn |
| Dec 31, 2016 | 193.36 Mn |
| Sep 30, 2016 | 152.10 Mn |
| Jun 30, 2016 | 166.19 Mn |
| Mar 31, 2016 | 148.96 Mn |
| Dec 31, 2015 | 175.34 Mn |
| Sep 30, 2015 | 158.02 Mn |
| Jun 30, 2015 | 153.76 Mn |
| Mar 31, 2015 | 141.35 Mn |
| Dec 31, 2014 | 165.32 Mn |
| Sep 30, 2014 | 91.08 Mn |
| Jun 30, 2014 | 86.49 Mn |
| Mar 31, 2014 | 84.26 Mn |
| Dec 31, 2013 | 163.70 Mn |
| Sep 30, 2013 | 84.48 Mn |
| Jun 30, 2013 | 79.31 Mn |
| Mar 31, 2013 | 83.22 Mn |
| Dec 31, 2012 | 107.21 Mn |
| Sep 30, 2012 | 83.38 Mn |
| Jun 30, 2012 | 87.61 Mn |
| Mar 31, 2012 | 92.71 Mn |
| Dec 31, 2011 | 72.80 Mn |
| Sep 30, 2011 | 89.53 Mn |
| Jun 30, 2011 | 147.92 Mn |
| Mar 31, 2011 | 89.72 Mn |
| Dec 31, 2010 | 175.19 Mn |
| Sep 30, 2010 | 145.50 Mn |
| Jun 30, 2010 | 134.48 Mn |
| Mar 31, 2010 | 135.30 Mn |
| Dec 31, 2009 | 153.75 Mn |
| Sep 30, 2009 | 151.64 Mn |
| Jun 30, 2009 | 149.96 Mn |
| Mar 31, 2009 | 131.70 Mn |