Growth Metrics

UL Solutions (ULS) Cost of Revenue (2023 - 2025)

UL Solutions' Cost of Revenue history spans 3 years, with the latest figure at $397.0 million for Q4 2025.

  • For Q4 2025, Cost of Revenue rose 1.79% year-over-year to $397.0 million; the TTM value through Dec 2025 reached $1.5 billion, up 4.4%, while the annual FY2025 figure was $1.5 billion, 4.4% up from the prior year.
  • Cost of Revenue for Q4 2025 was $397.0 million at UL Solutions, up from $389.0 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.
  • The 3-year median for Cost of Revenue is $364.0 million (2024), against an average of $367.9 million.
  • The largest annual shift saw Cost of Revenue increased 8.43% in 2024 before it grew 1.79% in 2025.
  • A 3-year view of Cost of Revenue shows it stood at $363.0 million in 2023, then increased by 7.44% to $390.0 million in 2024, then grew by 1.79% to $397.0 million in 2025.
  • Per Business Quant, the three most recent readings for ULS's Cost of Revenue are $397.0 million (Q4 2025), $389.0 million (Q3 2025), and $393.0 million (Q2 2025).