Elbit Systems (ESLT) Operating Expenses (2009 - 2026)

Over the trailing twelve months to Jun 30, 2026, Elbit Systems reported Operating Expenses of $1.17 billion, up 15.0% year-over-year; for the year ended Dec 31, 2025, it was $1.26 billion, up 9.6% from the prior year.

• Operating Expenses has increased in each of the last 11 years, with a five-year compound annual growth rate of 8.5% (years ended Dec 2020 to Dec 2025).
• Going back by year, Operating Expenses was $1.15 billion in the year ended Dec 31, 2024 (+3.5%), $1.11 billion in the year ended Dec 31, 2023 (+10.7%), $1.01 billion in the year ended Dec 31, 2022 (+7.1%) and $939.54 million in the year ended Dec 31, 2021 (+11.9%).
• The figure for the quarter ended Jun 30, 2026 represents the highest quarterly Operating Expenses in data going back to the quarter ended Mar 31, 2009.
• Year-over-year, Operating Expenses has increased for seven consecutive quarters, with growth averaging 7.7% over the last eight quarters.
• The fastest year-over-year change in Operating Expenses over five years came in the quarter ended Sep 30, 2025 (growth of 69.2%), and the weakest in the quarter ended Sep 30, 2024 (a decline of 71.3%).
• Business Quant data shows ESLT's Operating Expenses at $346.93 million (quarter ended Mar 31, 2026), $337.33 million (quarter ended Dec 31, 2025) and $126.92 million (quarter ended Sep 30, 2025) in the three quarters before the quarter ended Jun 30, 2026.