Operating Expenses
Total Operating Expenses
Analysis
StatementIncome Statement
SectionOperating Expenses
CategoryEfficiency
SignalLower is better
VolatilityStable
First reportedQ4 2013
Last reportedQ4 2025
How to read this metric
Rising expenses without a corresponding rise in revenue can indicate operational bloat or aggressive expansion efforts.
Detailed definition
The sum of all costs required to run the business that are not directly tied to production, including R&D and SG&A. It r...
Peer comparison
Investors compare this to revenue to assess the 'operating leverage' of a business model.
Metric ID:
total_operating_expensesBusiness Segments
| Segment | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|
| Advisory Services | $428.00M | $455.00M | $481.00M | — | $469.00M |
| Real Estate Investments | $166.00M | $182.00M | $192.00M | — | $287.00M |
| Project Management | $119.00M | $122.00M | $124.00M | $136.00M | $127.00M |
| Total | — | — | — | — | — |
Total Operating Expenses at Other Companies
Frequently Asked Questions
- What does total operating expenses mean?
- The total cost of running the day-to-day business, excluding the direct cost of making products.