United Therapeutics (UTHR) Operating Expenses (2009 - 2026)
United Therapeutics' (UTHR) quarterly Operating Expenses came in at $452.5 million in Q2 2026, up 4.24% year-over-year from $434.1 million in Q2 2025, and down 0.7% quarter-over-quarter from $455.7 million in Q1 2026.
Analysis
United Therapeutics (UTHR) Operating Expenses (2009 - 2026) Analysis & Trends
United Therapeutics has disclosed Operating Expenses across 18 years of filings, most recently posting $452.5 million for Q2 2026.
- In Q2 2026, Operating Expenses rose 4.24% year-over-year to $452.5 million; the TTM figure through Jun 2026 stood at $1.8 billion (up 7.55% YoY), while the FY2025 annual figure was $1.7 billion, up 12.65% from the prior year.
- Operating Expenses came in at $452.5 million for Q2 2026 at United Therapeutics, down from $455.7 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $455.7 million in Q1 2026 to a low of $173.9 million in Q1 2022.
- Average Operating Expenses over 5 years is $344.3 million, with a median of $366.4 million recorded in 2023.
- Year-over-year, Operating Expenses sank 60.82% in 2022 and soared 44.45% in 2024.
- Over 5 years, Operating Expenses stood at $315.9 million in 2022, then grew by 12.25% to $354.6 million in 2023, then rose by 6.66% to $378.2 million in 2024, then climbed by 14.62% to $433.5 million in 2025, then climbed by 4.38% to $452.5 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $452.5 million in Q2 2026, $455.7 million in Q1 2026, and $433.5 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 646.03 Bn | 625.27 Bn | 17.26 Bn | 10.12 Bn |
| 2 | AbbVie | 441.56 Bn | 434.99 Bn | 12.70 Bn | 10.56 Bn |
| 3 | Merck | 364.45 Bn | 357.31 Bn | 12.21 Bn | 12.80 Bn |
| 4 | Novartis Ag | 267.46 Bn | 259.77 Bn | 11.24 Bn | -6.09 Bn |
| 5 | Pfizer | 158.77 Bn | 147.08 Bn | 10.94 Bn | 6.68 Bn |
| 6 | Sanofi | 52.48 Bn | 45.10 Bn | 10.79 Bn | -5.98 Bn |
| 7 | Revolution Medicines | 44.15 Bn | 44.15 Bn | - | 505.13 Mn |
| 8 | Incyte | 25.31 Bn | 20.77 Bn | 1.57 Bn | 976.14 Mn |
| 9 | United Therapeutics | 21.29 Bn | 18.63 Bn | 683.80 Mn | 452.50 Mn |
| 10 | Neurocrine Biosciences | 15.48 Bn | 15.09 Bn | 935.80 Mn | 807.50 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 452.50 Mn |
| Mar 31, 2026 | 455.70 Mn |
| Dec 31, 2025 | 433.50 Mn |
| Sep 30, 2025 | 411.00 Mn |
| Jun 30, 2025 | 434.10 Mn |
| Mar 31, 2025 | 411.60 Mn |
| Dec 31, 2024 | 378.20 Mn |
| Sep 30, 2024 | 405.80 Mn |
| Jun 30, 2024 | 395.00 Mn |
| Mar 31, 2024 | 321.40 Mn |
| Dec 31, 2023 | 354.60 Mn |
| Sep 30, 2023 | 282.40 Mn |
| Jun 30, 2023 | 283.10 Mn |
| Mar 31, 2023 | 222.50 Mn |
| Dec 31, 2022 | 315.90 Mn |
| Sep 30, 2022 | 201.70 Mn |
| Jun 30, 2022 | 265.10 Mn |
| Mar 31, 2022 | 173.90 Mn |
| Dec 31, 2021 | 245.40 Mn |
| Sep 30, 2021 | 216.00 Mn |