UL Solutions (ULS) Operating Expenses (2023 - 2026)
UL Solutions (ULS) reported Operating Expenses of $243.0 million for Q1 2026, up 5.19% on a YoY basis from $231.0 million in Q1 2025, and up 1.67% sequentially from $239.0 million in Q4 2025.
UL Solutions (ULS) Operating Expenses (2023 - 2026) Analysis & Trends
UL Solutions (ULS) has 4 years of Operating Expenses data on file, last reported at $243.0 million in Q1 2026.
- For the quarter ending Q1 2026, Operating Expenses rose 5.19% year-over-year to $243.0 million; the trailing twelve-month figure through Mar 2026 stood at $964.0 million (up 3.21% YoY), and the FY2025 full-year result was $988.0 million, up 6.24% from the prior year.
- Operating Expenses climbed to $243.0 million in Q1 2026, from $239.0 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $244.0 million in Q2 2025 to a low of $206.0 million in Q3 2023.
- A 4-year average of $230.9 million and a median of $231.0 million in 2023 frame the typical range for Operating Expenses.
- Across the five-year window, Operating Expenses increased 10.68% in 2024 and grew 1.32% in 2025, its largest moves.
- Tracing ULS's Operating Expenses over 4 years: stood at $231.0 million in 2023, then grew by 1.73% to $235.0 million in 2024, then advanced by 1.7% to $239.0 million in 2025, then advanced by 1.67% to $243.0 million in 2026.
- Business Quant data shows ULS's Operating Expenses 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 | Cintas | 81.31 Bn | 81.12 Bn | 1.45 Bn | 788.55 Mn |
| 2 | Rentokil Initial | 73.75 Bn | 71.25 Bn | - | 6.06 Bn |
| 3 | Relx | 60.28 Bn | 60.04 Bn | - | - |
| 4 | Thomson Reuters | 38.09 Bn | 37.23 Bn | - | -1.20 Bn |
| 5 | Copart | 25.18 Bn | 21.85 Bn | 732.88 Mn | 772.78 Mn |
| 6 | Global Payments | 21.29 Bn | 16.10 Bn | 1.70 Bn | 2.99 Bn |
| 7 | Rb Global | 20.33 Bn | 20.14 Bn | 927.90 Mn | 1.02 Bn |
| 8 | UL Solutions | 17.42 Bn | 17.18 Bn | 381.00 Mn | 243.00 Mn |
| 9 | Aramark | 15.00 Bn | 14.59 Bn | 426.39 Mn | 4.69 Bn |
| 10 | Amentum Holdings | 5.37 Bn | 5.04 Bn | 345.00 Mn | 124.00 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 |