UL Solutions (ULS) Cost of Revenue (2023 - 2026)
Quarterly results put Cost of Revenue at $377.0 million for Q1 2026, up 3.29% from a year ago — trailing twelve months through Mar 2026 was $1.6 billion (up 4.29% YoY), and the annual figure for FY2025 was $1.5 billion, up 4.4%.
UL Solutions has reported Cost of Revenue over the past 4 years, most recently at $377.0 million for Q1 2026.
- Cost of Revenue reached $377.0 million in Q1 2026 per ULS's latest filing, down from $397.0 million in the prior quarter.
- Across five years, Cost of Revenue topped out at $397.0 million in Q4 2025 and bottomed at $335.0 million in Q1 2023.
- Median Cost of Revenue over the past 4 years was $365.0 million (2025), compared with a mean of $368.7 million.
- The largest annual shift saw Cost of Revenue grew 8.43% in 2024 before it rose 1.79% in 2025.
- Over 4 years, Cost of Revenue stood at $363.0 million in 2023, then grew by 7.44% to $390.0 million in 2024, then rose by 1.79% to $397.0 million in 2025, then dropped by 5.04% to $377.0 million in 2026.
- Business Quant data shows Cost of Revenue for ULS at $377.0 million in Q1 2026, $397.0 million in Q4 2025, and $389.0 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Relx | 81.40 Bn | 81.16 Bn | - | - |
| 2 | Rentokil Initial | 79.56 Bn | 78.10 Bn | - | - |
| 3 | Cintas | 69.26 Bn | 69.08 Bn | 1.45 Bn | 1.39 Bn |
| 4 | Copart | 33.09 Bn | 28.01 Bn | 971.24 Mn | 150.43 Mn |
| 5 | UL Solutions | 20.56 Bn | 20.32 Bn | 381.00 Mn | 377.00 Mn |
| 6 | Global Payments | 19.88 Bn | 14.69 Bn | 1.70 Bn | 1.27 Bn |
| 7 | Rb Global | 19.08 Bn | 18.89 Bn | 869.50 Mn | 365.10 Mn |
| 8 | Aramark | 13.57 Bn | 13.16 Bn | 426.35 Mn | 4.48 Bn |
| 9 | Amentum Holdings | 5.65 Bn | 5.74 Bn | 345.00 Mn | 3.13 Bn |
| 10 | Dolby Laboratories | 5.15 Bn | 4.56 Bn | 350.90 Mn | 44.73 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 377.00 Mn |
| Mar 31, 2026 | 377.00 Mn |
| Dec 31, 2025 | 397.00 Mn |
| Dec 31, 2025 | 397.00 Mn |
| Sep 30, 2025 | 389.00 Mn |
| Sep 30, 2025 | 389.00 Mn |
| Jun 30, 2025 | 393.00 Mn |
| Jun 30, 2025 | 393.00 Mn |
| Mar 31, 2025 | 365.00 Mn |
| Mar 31, 2025 | 365.00 Mn |
| Dec 31, 2024 | 390.00 Mn |
| Dec 31, 2024 | 390.00 Mn |
| Sep 30, 2024 | 373.00 Mn |
| Sep 30, 2024 | 373.00 Mn |
| Jun 30, 2024 | 364.00 Mn |
| Jun 30, 2024 | 364.00 Mn |
| Mar 31, 2024 | 351.00 Mn |
| Mar 31, 2024 | 351.00 Mn |
| Dec 31, 2023 | 363.00 Mn |
| Dec 31, 2023 | 363.00 Mn |
| Sep 30, 2023 | 344.00 Mn |
| Sep 30, 2023 | 344.00 Mn |
| Jun 30, 2023 | 352.00 Mn |
| Jun 30, 2023 | 352.00 Mn |
| Mar 31, 2023 | 335.00 Mn |
| Mar 31, 2023 | 335.00 Mn |