Want to see CAT full AI Analyst Report?
Operating Expense Breakdown
Details core costs like R&D, marketing, and admin, offering insight into how efficiently the company runs and where it’s prioritizing investment.Caterpillar’s cost base is shifting from episodic charges to sustained investment: SG&A and R&D have climbed meaningfully since 2022 as the company ramps capacity and product development for power generation, while interest expense has trended up, reflecting higher funding costs. “Other” is volatile (a late-2022 goodwill hit and sporadic spikes), but recurring higher SG&A/R&D helps explain management’s view that 2026 margins will be constrained near the target floor despite record backlog and stronger revenue—a near-term margin tradeoff for longer-term growth.
Date | Research and Development | Selling, General, and Administrative | Other | Goodwill Impairment | Interest Expense |
|---|---|---|---|---|---|
Jun 30, 2026 | $616.00M | $2.02B | $471.00M | $0.00 | $362.00M |
Mar 31, 2026 | $537.00M | $1.82B | $326.00M | $0.00 | $345.00M |
Dec 31, 2025 | $562.00M | $1.88B | $377.00M | $0.00 | $351.00M |
Sep 30, 2025 | $555.00M | $1.82B | $190.00M | $0.00 | $346.00M |
Jun 30, 2025 | $551.00M | $1.69B | $321.00M | $0.00 | $336.00M |
Mar 31, 2025 | $480.00M | $1.59B | $306.00M | $0.00 | $326.00M |
Dec 31, 2024 | $519.00M | $1.77B | $344.00M | $0.00 | $338.00M |
Sep 30, 2024 | $533.00M | $1.67B | $355.00M | $0.00 | $336.00M |
Jun 30, 2024 | $535.00M | $1.65B | $556.00M | $0.00 | $314.00M |
Mar 31, 2024 | $520.00M | $1.58B | $223.00M | $0.00 | $298.00M |