National Rural Utilities Cooperative Finance annual operating expenses
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National Rural Utilities Cooperative Finance Operating Expenses Growth & History (NRUC)
National Rural Utilities Cooperative Finance's operating expenses was $161.1M for fiscal 2026.
View full National Rural Utilities Cooperative Finance company overviewNational Rural Utilities Cooperative Finance annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2026 | 2026-05-31 | $161.1M | $8.8M | +5.77% |
| 2025 | 2025-05-31 | $152.3M | $22.7M | +17.54% |
| 2024 | 2024-05-31 | $129.6M | $18.3M | +16.47% |
| 2023 | 2023-05-31 | $111.2M | $13.7M | +14.10% |
| 2022 | 2022-05-31 | $97.5M | −$288,000 | −0.29% |
| 2021 | 2021-05-31 | $97.8M | −$29.7M | −23.27% |
| 2020 | 2020-05-31 | $127.4M | $25.5M | +25.01% |
| 2019 | 2019-05-31 | $101.9M | $9.1M | +9.82% |
| 2018 | 2018-05-31 | $92.8M | $4.8M | +5.51% |
| 2017 | 2017-05-31 | $88.0M | $46,000 | +0.05% |
| 2016 | 2016-05-31 | $87.9M | $10.5M | +13.61% |
| 2015 | 2015-05-31 | $77.4M | $3.1M | +4.17% |
| 2014 | 2014-05-31 | $74.3M | −$20.8M | −21.88% |
| 2013 | 2013-05-31 | $95.1M | $12.8M | +15.53% |
| 2012 | 2012-05-31 | $82.3M | $6.6M | +8.73% |
| 2011 | 2011-05-31 | $75.7M | $9.4M | +14.25% |
| 2010 | 2010-05-31 | $66.3M | — | — |
National Rural Utilities Cooperative Finance quarterly operating expenses
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| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q4 2026 | 2026-05-31 | $43.4M | −$2.4M | −5.33% |
| Q3 2026 | 2026-02-28 | $38.4M | $4.7M | +14.07% |
| Q2 2026 | 2025-11-30 | $38.2M | $2.1M | +5.72% |
| Q1 2026 | 2025-08-31 | $41.0M | $4.4M | +12.11% |
| Q4 2025 | 2025-05-31 | $45.9M | $11.0M | +31.67% |
| Q3 2025 | 2025-02-28 | $33.6M | $3.3M | +10.92% |
| Q2 2025 | 2024-11-30 | $36.2M | $4.4M | +13.80% |
| Q1 2025 | 2024-08-31 | $36.6M | $4.0M | +12.23% |
| Q4 2024 | 2024-05-31 | $34.8M | $2.7M | +8.28% |
| Q3 2024 | 2024-02-29 | $30.3M | $4.7M | +18.33% |
| Q2 2024 | 2023-11-30 | $31.8M | $4.2M | +15.17% |
| Q1 2024 | 2023-08-31 | $32.6M | $6.8M | +26.23% |
| Q4 2023 | 2023-05-31 | $32.2M | $6.6M | +25.81% |
| Q3 2023 | 2023-02-28 | $25.6M | $1.7M | +7.07% |
| Q2 2023 | 2022-11-30 | $27.6M | $4.1M | +17.33% |
| Q1 2023 | 2022-08-31 | $25.8M | $1.4M | +5.62% |
| Q4 2022 | 2022-05-31 | $25.6M | $570,000 | +2.28% |
| Q3 2022 | 2022-02-28 | $23.9M | $59,000 | +0.25% |
| Q2 2022 | 2021-11-30 | $23.5M | −$2.4M | −9.22% |
| Q1 2022 | 2021-08-31 | $24.5M | $1.5M | +6.40% |
| Q4 2021 | 2021-05-31 | $25.0M | −$33.0M | −56.85% |
| Q3 2021 | 2021-02-28 | $23.9M | −$1.8M | −6.89% |
| Q2 2021 | 2020-11-30 | $25.9M | $216,000 | +0.84% |
| Q1 2021 | 2020-08-31 | $23.0M | $4.8M | +26.69% |
| Q4 2020 | 2020-05-31 | $58.0M | $34.3M | +144.94% |
| Q3 2020 | 2020-02-29 | $25.6M | $2.3M | +9.74% |
| Q2 2020 | 2019-11-30 | $25.7M | $1.5M | +6.08% |
| Q1 2020 | 2019-08-31 | $18.1M | −$12.5M | −40.88% |
| Q4 2019 | 2019-05-31 | $23.7M | −$1.9M | −7.28% |
| Q3 2019 | 2019-02-28 | $23.4M | $739,000 | +3.27% |
| Q2 2019 | 2018-11-30 | $24.2M | $1.7M | +7.51% |
| Q1 2019 | 2018-08-31 | $30.7M | $8.5M | +38.55% |
| Q4 2018 | 2018-05-31 | $25.5M | $996,000 | +4.06% |
| Q3 2018 | 2018-02-28 | $22.6M | $1.6M | +7.67% |
| Q2 2018 | 2017-11-30 | $22.5M | $1.4M | +6.54% |
| Q1 2018 | 2017-08-31 | $22.2M | $856,000 | +4.02% |
| Q4 2017 | 2017-05-31 | $24.5M | $3.2M | +15.10% |
| Q3 2017 | 2017-02-28 | $21.0M | −$2.2M | −9.44% |
| Q2 2017 | 2016-11-30 | $21.1M | $909,000 | +4.49% |
| Q1 2017 | 2016-08-31 | $21.3M | −$1.9M | −8.15% |
| Q4 2016 | 2016-05-31 | $21.3M | −$649,000 | −2.96% |
| Q3 2016 | 2016-02-29 | $23.2M | $4.5M | +23.91% |
| Q2 2016 | 2015-11-30 | $20.2M | $2.0M | +10.96% |
| Q1 2016 | 2015-08-31 | $23.2M | $4.7M | +25.48% |
| Q4 2015 | 2015-05-31 | $22.0M | $3.7M | +20.43% |
| Q3 2015 | 2015-02-28 | $18.7M | $176,000 | +0.95% |
| Q2 2015 | 2014-11-30 | $18.2M | −$555,000 | −2.95% |
| Q1 2015 | 2014-08-31 | $18.5M | −$250,000 | −1.33% |
| Q4 2014 | 2014-05-31 | $18.2M | −$5.0M | −21.59% |
| Q3 2014 | 2014-02-28 | $18.5M | −$12.2M | −39.77% |
| Q2 2014 | 2013-11-30 | $18.8M | −$4.9M | −20.84% |
| Q1 2014 | 2013-08-31 | $18.7M | $1.4M | +8.13% |
| Q4 2013 | 2013-05-31 | $23.3M | $8.6M | +58.94% |
| Q3 2013 | 2013-02-28 | $30.8M | $12.4M | +67.81% |
| Q2 2013 | 2012-11-30 | $23.7M | $387,000 | +1.66% |
| Q1 2013 | 2012-08-31 | $17.3M | −$8.7M | −33.35% |
| Q4 2012 | 2012-05-31 | $14.6M | $670,000 | +4.80% |
| Q3 2012 | 2012-02-29 | $18.3M | $790,000 | +4.50% |
| Q2 2012 | 2011-11-30 | $23.4M | $330,000 | +1.43% |
| Q1 2012 | 2011-08-31 | $26.0M | $4.8M | +22.75% |
| Q4 2011 | 2011-05-31 | $14.0M | — | — |
| Q3 2011 | 2011-02-28 | $17.6M | — | — |
| Q2 2011 | 2010-11-30 | $23.0M | — | — |
| Q1 2011 | 2010-08-31 | $21.2M | — | — |
National Rural Utilities Cooperative Finance operating expenses trends
Over the last five fiscal years, National Rural Utilities Cooperative Finance's operating expenses increased from $97.8M to $161.1M, a change of $63.3M. The latest reported quarter, Q4 2026, shows $43.4M.
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 National Rural Utilities Cooperative Finance source filings ↗