UL Solutions (ULS) Operating Expenses (2023 - 2026)
Quarterly results put Operating Expenses at $243.0 million for Q1 2026, up 5.19% from a year ago — trailing twelve months through Mar 2026 was $964.0 million (up 3.21% YoY), and the annual figure for FY2025 was $988.0 million, up 6.24%.
UL Solutions has reported Operating Expenses over the past 4 years, most recently at $243.0 million for Q1 2026.
- Operating Expenses reached $243.0 million in Q1 2026 per ULS's latest filing, up from $239.0 million in the prior quarter.
- Across five years, Operating Expenses topped out at $244.0 million in Q2 2025 and bottomed at $206.0 million in Q3 2023.
- Median Operating Expenses over the past 4 years was $231.0 million (2023), compared with a mean of $230.9 million.
- The largest annual shift saw Operating Expenses increased 10.68% in 2024 before it grew 1.32% in 2025.
- Over 4 years, Operating Expenses stood at $231.0 million in 2023, then increased by 1.73% to $235.0 million in 2024, then rose by 1.7% to $239.0 million in 2025, then rose by 1.67% to $243.0 million in 2026.
- Business Quant data shows Operating Expenses for ULS at $243.0 million in Q1 2026, $239.0 million in Q4 2025, and $238.0 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Relx | 81.40 Bn | 81.16 Bn | - | - |
| 2 | Rentokil Initial | 79.56 Bn | 78.10 Bn | - | 6.06 Bn |
| 3 | Cintas | 69.26 Bn | 69.08 Bn | 1.45 Bn | 788.55 Mn |
| 4 | Copart | 33.09 Bn | 28.01 Bn | 971.24 Mn | 732.96 Mn |
| 5 | UL Solutions | 20.56 Bn | 20.32 Bn | 381.00 Mn | 243.00 Mn |
| 6 | Global Payments | 19.88 Bn | 14.69 Bn | 1.70 Bn | 2.99 Bn |
| 7 | Rb Global | 19.08 Bn | 18.89 Bn | 869.50 Mn | 1.02 Bn |
| 8 | Aramark | 13.57 Bn | 13.16 Bn | 426.35 Mn | 4.69 Bn |
| 9 | Amentum Holdings | 5.65 Bn | 5.74 Bn | 345.00 Mn | 124.00 Mn |
| 10 | Dolby Laboratories | 5.15 Bn | 4.56 Bn | 350.90 Mn | 237.95 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 243.00 Mn |
| Dec 31, 2025 | 239.00 Mn |
| Sep 30, 2025 | 238.00 Mn |
| Jun 30, 2025 | 244.00 Mn |
| Mar 31, 2025 | 231.00 Mn |
| Dec 31, 2024 | 235.00 Mn |
| Sep 30, 2024 | 228.00 Mn |
| Jun 30, 2024 | 240.00 Mn |
| Mar 31, 2024 | 228.00 Mn |
| Dec 31, 2023 | 231.00 Mn |
| Sep 30, 2023 | 206.00 Mn |
| Jun 30, 2023 | 220.00 Mn |
| Mar 31, 2023 | 219.00 Mn |