UL Solutions (ULS) Cost of Revenue (2023 - 2026)

UL Solutions has disclosed Cost of Revenue across 4 years of filings, most recently posting $377.0 million for Q1 2026.

• Cost of Revenue for Q1 2026 came in at $377.0 million, up 3.29% year-over-year; the trailing twelve-month figure through Mar 2026 was $1.6 billion (up 4.29% YoY), and the FY2025 annual result was $1.5 billion, up 4.4% from the prior year.
• Cost of Revenue came in at $377.0 million for Q1 2026 at UL Solutions, down from $397.0 million in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $397.0 million in Q4 2025 to a low of $335.0 million in Q1 2023.
• The 4-year median for Cost of Revenue is $365.0 million (2025), against an average of $368.7 million.
• Across the five-year window, Cost of Revenue grew 8.43% in 2024 and climbed 1.79% in 2025, its largest moves.
• UL Solutions' Cost of Revenue stood at $363.0 million in 2023, then grew by 7.44% to $390.0 million in 2024, then climbed by 1.79% to $397.0 million in 2025, then retreated by 5.04% to $377.0 million in 2026.
• The last three Cost of Revenue figures came in at $377.0 million (Q1 2026), $397.0 million (Q4 2025), and $389.0 million (Q3 2025), per Business Quant data.