Caterpillar annual operating expenses
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Caterpillar Operating Expenses Growth & History (CAT)
Caterpillar's operating expenses was $56.44B for fiscal 2025.
View full Caterpillar company overviewCaterpillar annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $56.44B | $4.70B | +9.09% |
| 2024 | 2024-12-31 | $51.74B | −$2.36B | −4.36% |
| 2023 | 2023-12-31 | $54.09B | $2.57B | +4.99% |
| 2022 | 2022-12-31 | $51.52B | $7.43B | +16.85% |
| 2021 | 2021-12-31 | $44.09B | $6.90B | +18.55% |
| 2020 | 2020-12-31 | $37.20B | −$8.31B | −18.27% |
| 2019 | 2019-12-31 | $45.51B | −$919.0M | −1.98% |
| 2018 | 2018-12-31 | $46.43B | $5.43B | +13.24% |
| 2017 | 2017-12-31 | $41.00B | $3.63B | +9.70% |
| 2016 | 2016-12-31 | $37.38B | −$5.85B | −13.54% |
| 2015 | 2015-12-31 | $43.23B | −$8.64B | −16.66% |
| 2014 | 2014-12-31 | $51.87B | $1.84B | +3.68% |
| 2013 | 2013-12-31 | $50.03B | −$7.27B | −12.69% |
| 2012 | 2012-12-31 | $57.30B | $4.32B | +8.15% |
| 2011 | 2011-12-31 | $52.98B | $14.36B | +37.18% |
| 2010 | 2010-12-31 | $38.63B | $6.81B | +21.39% |
| 2009 | 2009-12-31 | $31.82B | −$15.06B | −32.12% |
| 2008 | 2008-12-31 | $46.88B | $6.84B | +17.08% |
| 2007 | 2007-12-31 | $40.04B | — | — |
Caterpillar quarterly operating expenses
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| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $16.25B | $2.54B | +18.52% |
| Q1 2026 | 2026-03-31 | $14.33B | $2.66B | +22.79% |
| Q4 2025 | 2025-12-31 | $16.47B | $3.18B | +23.94% |
| Q3 2025 | 2025-09-30 | $14.59B | $1.63B | +12.55% |
| Q2 2025 | 2025-06-30 | $13.71B | $502.0M | +3.80% |
| Q1 2025 | 2025-03-31 | $11.67B | −$610.0M | −4.97% |
| Q4 2024 | 2024-12-31 | $13.29B | −$645.0M | −4.63% |
| Q3 2024 | 2024-09-30 | $12.96B | −$402.0M | −3.01% |
| Q2 2024 | 2024-06-30 | $13.21B | −$459.0M | −3.36% |
| Q1 2024 | 2024-03-31 | $12.28B | −$851.0M | −6.48% |
| Q4 2023 | 2023-12-31 | $13.94B | −$981.0M | −6.58% |
| Q3 2023 | 2023-09-30 | $13.36B | $792.0M | +6.30% |
| Q2 2023 | 2023-06-30 | $13.67B | $1.36B | +11.08% |
| Q1 2023 | 2023-03-31 | $13.13B | $1.40B | +11.91% |
| Q4 2022 | 2022-12-31 | $14.92B | $2.73B | +22.40% |
| Q3 2022 | 2022-09-30 | $12.57B | $1.84B | +17.11% |
| Q2 2022 | 2022-06-30 | $12.30B | $1.20B | +10.84% |
| Q1 2022 | 2022-03-31 | $11.73B | $1.66B | +16.49% |
| Q4 2021 | 2021-12-31 | $12.19B | $2.33B | +23.66% |
| Q3 2021 | 2021-09-30 | $10.73B | $1.84B | +20.65% |
| Q2 2021 | 2021-06-30 | $11.10B | $1.89B | +20.48% |
| Q1 2021 | 2021-03-31 | $10.07B | $842.0M | +9.12% |
| Q4 2020 | 2020-12-31 | $9.86B | −$1.44B | −12.74% |
| Q3 2020 | 2020-09-30 | $8.90B | −$1.84B | −17.15% |
| Q2 2020 | 2020-06-30 | $9.21B | −$3.01B | −24.60% |
| Q1 2020 | 2020-03-31 | $9.23B | −$2.03B | −18.01% |
| Q4 2019 | 2019-12-31 | $11.29B | −$1.17B | −9.35% |
| Q3 2019 | 2019-09-30 | $10.74B | −$637.0M | −5.60% |
| Q2 2019 | 2019-06-30 | $12.22B | $375.0M | +3.17% |
| Q1 2019 | 2019-03-31 | $11.26B | $508.0M | +4.73% |
| Q4 2018 | 2018-12-31 | $12.46B | $950.0M | +8.25% |
| Q3 2018 | 2018-09-30 | $11.38B | $1.47B | +14.85% |
| Q2 2018 | 2018-06-30 | $11.84B | $1.70B | +16.72% |
| Q1 2018 | 2018-03-31 | $10.75B | $1.31B | +13.86% |
| Q4 2017 | 2017-12-31 | $11.51B | $1.34B | +13.14% |
| Q3 2017 | 2017-09-30 | $9.90B | $1.23B | +14.11% |
| Q2 2017 | 2017-06-30 | $10.15B | $590.0M | +6.17% |
| Q1 2017 | 2017-03-31 | $9.44B | $475.0M | +5.30% |
| Q4 2016 | 2016-12-31 | $10.17B | −$1.03B | −9.22% |
| Q3 2016 | 2016-09-30 | $8.68B | −$1.36B | −13.53% |
| Q2 2016 | 2016-06-30 | $9.56B | −$1.43B | −12.99% |
| Q1 2016 | 2016-03-31 | $8.97B | −$2.03B | −18.48% |
| Q4 2015 | 2015-12-31 | $11.21B | −$3.99B | −26.26% |
| Q3 2015 | 2015-09-30 | $10.04B | −$2.12B | −17.44% |
| Q2 2015 | 2015-06-30 | $10.98B | −$1.69B | −13.34% |
| Q1 2015 | 2015-03-31 | $11.00B | −$843.0M | −7.12% |
| Q4 2014 | 2014-12-31 | $15.20B | $2.25B | +17.34% |
| Q3 2014 | 2014-09-30 | $12.16B | $135.0M | +1.12% |
| Q2 2014 | 2014-06-30 | $12.68B | −$389.0M | −2.98% |
| Q1 2014 | 2014-03-31 | $11.84B | −$149.0M | −1.24% |
| Q4 2013 | 2013-12-31 | $12.95B | −$2.09B | −13.88% |
| Q3 2013 | 2013-09-30 | $12.02B | −$1.83B | −13.19% |
| Q2 2013 | 2013-06-30 | $13.06B | −$1.69B | −11.48% |
| Q1 2013 | 2013-03-31 | $11.99B | −$1.67B | −12.20% |
| Q4 2012 | 2012-12-31 | $15.04B | −$246.0M | −1.61% |
| Q3 2012 | 2012-09-30 | $13.85B | −$108.0M | −0.77% |
| Q2 2012 | 2012-06-30 | $14.76B | $2.13B | +16.86% |
| Q1 2012 | 2012-03-31 | $13.66B | $2.54B | +22.87% |
| Q4 2011 | 2011-12-31 | $15.28B | $3.77B | +32.71% |
| Q3 2011 | 2011-09-30 | $13.96B | $4.01B | +40.31% |
| Q2 2011 | 2011-06-30 | $12.63B | $3.20B | +33.90% |
| Q1 2011 | 2011-03-31 | $11.12B | $3.39B | +43.80% |
| Q4 2010 | 2010-12-31 | $11.52B | $3.75B | +48.21% |
| Q3 2010 | 2010-09-30 | $9.95B | $2.93B | +41.67% |
| Q2 2010 | 2010-06-30 | $9.43B | $1.80B | +23.65% |
| Q1 2010 | 2010-03-31 | $7.73B | −$1.67B | −17.77% |
| Q4 2009 | 2009-12-31 | $7.77B | — | — |
| Q3 2009 | 2009-09-30 | $7.02B | −$4.79B | −40.54% |
| Q2 2009 | 2009-06-30 | $7.63B | −$4.47B | −36.95% |
| Q1 2009 | 2009-03-31 | $9.40B | — | — |
| Q3 2008 | 2008-09-30 | $11.81B | — | — |
| Q2 2008 | 2008-06-30 | $12.10B | — | — |
Caterpillar operating expenses trends
Over the last five fiscal years, Caterpillar's operating expenses increased from $37.20B to $56.44B, a change of $19.24B. The latest reported quarter, Q2 2026, shows $16.25B.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Caterpillar source filings ↗