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
DateValue
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