United Therapeutics (UTHR) Operating Expenses (2009 - 2026)
United Therapeutics (UTHR) recorded Operating Expenses of $452.5 million in Q2 2026, up 4.2% from $434.1 million a year earlier but down 0.7% from the prior quarter.
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Analysis
United Therapeutics (UTHR) Operating Expenses (2009 - 2026) Analysis & Trends
On a TTM basis, United Therapeutics' Operating Expenses came in at $1.75 billion as of Jun 30, 2026, up 7.5% year-over-year; for FY2025, it was $1.69 billion, up 12.6% from FY2024.
- Annual Operating Expenses has increased for three straight years, with a five-year compound annual growth rate of 13.7% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $1.5 billion in FY2024 (+31.3%), $1.14 billion in FY2023 (+19.4%), $956.6 million in FY2022 (-15.3%) and $1.13 billion in FY2021 (+27.0%).
- Quarterly Operating Expenses has ranged from $173.9 million in Q1 2022 to $455.7 million in Q1 2026 over the past five years.
- On a year-over-year basis, Operating Expenses has increased for 15 consecutive quarters, with growth averaging 14.9% over the last eight quarters.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 44.4% in Q1 2024, against a decline of 60.8% in Q1 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at $455.7 million (Q1 2026), $433.5 million (Q4 2025) and $411 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 655.56 Bn | 574.09 Bn | 17.26 Bn | 10.12 Bn |
| 2 | AbbVie | 470.94 Bn | 444.10 Bn | 12.70 Bn | 10.56 Bn |
| 3 | Merck | 367.14 Bn | 321.57 Bn | 12.21 Bn | 12.80 Bn |
| 4 | Novartis Ag | 280.33 Bn | 236.20 Bn | 11.24 Bn | -6.09 Bn |
| 5 | Astrazeneca | 257.78 Bn | 231.34 Bn | 12.86 Bn | -9.70 Bn |
| 6 | Amgen | 226.04 Bn | 181.44 Bn | 7.24 Bn | 6.54 Bn |
| 7 | Gilead Sciences | 188.89 Bn | 163.01 Bn | 6.22 Bn | 18.20 Bn |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 6.68 Bn |
| 9 | Vertex Pharmaceuticals | 133.68 Bn | 105.69 Bn | 2.84 Bn | 2.09 Bn |
| 10 | United Therapeutics | 20.72 Bn | 10.22 Bn | 683.80 Mn | 452.50 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 |
API Access
United Therapeutics Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=UTHR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "UTHR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=UTHR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();