UL Solutions (ULS) Operating Expenses (2023 - 2026)
UL Solutions (ULS) posted Operating Expenses of $243.0 million for Q1 2026, up 1.67% sequentially from $239.0 million in Q4 2025, and up 5.19% YoY from $231.0 million in Q1 2025.
UL Solutions (ULS) Operating Expenses (2023 - 2026) Analysis & Trends
UL Solutions has reported Operating Expenses for 4 years, with the latest figure at $243.0 million in Q1 2026.
- Quarterly Operating Expenses rose 5.19% year-over-year to $243.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $964.0 million (up 3.21% YoY) and the FY2025 annual result came in at $988.0 million, up 6.24% from the prior year.
- Operating Expenses climbed to $243.0 million in Q1 2026 per ULS's latest filing, from $239.0 million in the prior quarter.
- Over five years, Operating Expenses peaked at $244.0 million in Q2 2025 and troughed at $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.
- The sharpest annual moves came in 2024 and 2025: Operating Expenses gained 10.68% in 2024, then rose 1.32% in 2025.
- Over 4 years, Operating Expenses stood at $231.0 million in 2023, then gained by 1.73% to $235.0 million in 2024, then increased by 1.7% to $239.0 million in 2025, then increased by 1.67% to $243.0 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $243.0 million, $239.0 million, and $238.0 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Cintas | 81.69 Bn | 81.40 Bn | 1.48 Bn | 792.12 Mn |
| 2 | Relx | 64.97 Bn | 64.80 Bn | - | - |
| 3 | Copart | 32.09 Bn | 28.74 Bn | 732.88 Mn | 772.78 Mn |
| 4 | Global Payments | 24.80 Bn | 19.40 Bn | 2.03 Bn | 2.98 Bn |
| 5 | Rb Global | 16.24 Bn | 15.72 Bn | 935.50 Mn | 1.09 Bn |
| 6 | Aramark | 15.68 Bn | 15.18 Bn | 430.34 Mn | 4.84 Bn |
| 7 | UL Solutions | 15.20 Bn | 14.77 Bn | 417.00 Mn | 267.00 Mn |
| 8 | Rentokil Initial | 11.80 Bn | 9.27 Bn | - | - |
| 9 | Dolby Laboratories | 6.05 Bn | 5.38 Bn | 264.68 Mn | 230.36 Mn |
| 10 | Unifirst | 5.23 Bn | 5.06 Bn | 234.73 Mn | 611.37 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 267.00 Mn |
| 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 |