ULS

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UL Solutions Inc. Class A

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Key Metrics

Previous Close: $76.04
52-Week Range: $61.64 – $107.54
Market Cap: $15.19B
P/E (TTM): 30.72
EPS (TTM): 2.45
Dividend Yield: 0.76%

Advanced Metrics

Price/Book: 9.53
PEG Ratio: 1.72
Return on Equity: 38.71%
Return on Assets: 12.33%
Gross Margin: 50.41%
Operating Margin: 18.38%
Profit Margin: 16.08%
Current Ratio: 1.43
Debt/Equity: 0.29
Total Debt: $476.00M
Free Cash Flow: $420.50M
Revenue Growth: 5.20%
Earnings Growth: 168.90%
Enterprise Value: $15.26B

ULS Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$2.52B	$2.68B	$2.87B	$3.05B
Cost of Revenue	$1.31B	$1.39B	$1.48B	$1.54B
Gross Profit	$1.21B	$1.28B	$1.39B	$1.51B
Selling, General & Admin	$795.00M	$875.00M	$931.00M	$953.00M
Operating Expenses	$795.00M	$875.00M	$931.00M	$953.00M
Operating Income	$412.00M	$409.00M	$461.00M	$557.00M
EBITDA	$535.00M	$535.00M	$642.00M	$699.00M
Pretax Income	$383.00M	$346.00M	$415.00M	$470.00M
Income Tax	$74.00M	$70.00M	$70.00M	$125.00M
Net Income	$293.00M	$260.00M	$326.00M	$325.00M
Diluted EPS	1.47	1.30	1.62	1.60
Diluted Shares	200.00M	200.00M	201.00M	203.00M

ULS Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$322.00M	$315.00M	$298.00M	$295.00M
Receivables	$587.00M	$590.00M	$562.00M	$626.00M
Current Assets	$998.00M	$953.00M	$921.00M	$1.00B
Total Assets	$2.72B	$2.74B	$2.80B	$2.92B
Current Liabilities	$694.00M	$709.00M	$740.00M	$760.00M
Long-Term Debt	$499.00M	$904.00M	$692.00M	$491.00M
Total Debt	$660.00M	$1.06B	$935.00M	$683.00M
Total Liabilities	$1.64B	$2.06B	$1.87B	$1.63B
Retained Earnings	$211.00M	$24.00M	$250.00M	$470.00M
Shareholders' Equity	$1.05B	$654.00M	$904.00M	$1.26B
Working Capital	$304.00M	$244.00M	$181.00M	$240.00M
Net Debt	$177.00M	$589.00M	$444.00M	$196.00M

ULS Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$372.00M	$467.00M	$524.00M	$600.00M
Capital Expenditure	-$164.00M	-$215.00M	-$237.00M	-$197.00M
Free Cash Flow	$208.00M	$252.00M	$287.00M	$403.00M
Depreciation & Amortisation	$135.00M	$154.00M	$172.00M	$188.00M
Stock-Based Compensation	$0.00	$0.00	$23.00M	$47.00M
Investing Cash Flow	-$238.00M	-$175.00M	-$234.00M	-$204.00M
Financing Cash Flow	-$1.12B	-$294.00M	-$284.00M	-$396.00M
Dividends Paid	-$1.60B	-$680.00M	-$100.00M	-$104.00M
Net Change in Cash	-$982.00M	-$2.00M	$6.00M	—

ULS Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$705.00M	$776.00M	$783.00M	$789.00M	$758.00M
Cost of Revenue	$365.00M	$393.00M	$389.00M	$397.00M	$377.00M
Gross Profit	$340.00M	$383.00M	$394.00M	$392.00M	$381.00M
Selling, General & Admin	$232.00M	$244.00M	$238.00M	$239.00M	$243.00M
Operating Expenses	$232.00M	$244.00M	$238.00M	$239.00M	$243.00M
Operating Income	$108.00M	$139.00M	$156.00M	$153.00M	$138.00M
EBITDA	$151.00M	$181.00M	$202.00M	$165.00M	$184.00M
Pretax Income	$94.00M	$125.00M	$146.00M	$105.00M	$129.00M
Income Tax	$23.00M	$28.00M	$40.00M	$34.00M	$32.00M
Net Income	$67.00M	$91.00M	$100.00M	$67.00M	$92.00M
Diluted EPS	0.33	0.45	0.49	0.32	0.45
Diluted Shares	203.00M	203.00M	203.00M	204.00M	204.00M

ULS Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$267.00M	$272.00M	$255.00M	$295.00M	$258.00M
Receivables	$666.00M	$648.00M	$623.00M	$626.00M	$719.00M
Current Assets	$998.00M	$1.01B	$995.00M	$1.00B	$1.05B
Total Assets	$2.88B	$2.92B	$2.90B	$2.92B	$2.96B
Current Liabilities	$804.00M	$765.00M	$749.00M	$760.00M	$899.00M
Long-Term Debt	$653.00M	$608.00M	$544.00M	$491.00M	$357.00M
Total Debt	$843.00M	$805.00M	$736.00M	$683.00M	$539.00M
Total Liabilities	$1.89B	$1.81B	$1.68B	$1.63B	$1.62B
Retained Earnings	$291.00M	$356.00M	$429.00M	$470.00M	$533.00M
Shareholders' Equity	$970.00M	$1.09B	$1.19B	$1.26B	$1.32B
Working Capital	$194.00M	$244.00M	$246.00M	$240.00M	$148.00M
Net Debt	$386.00M	$336.00M	$289.00M	$196.00M	$99.00M

ULS Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$154.00M	$147.00M	$155.00M	$144.00M	$219.00M
Capital Expenditure	-$51.00M	-$42.00M	-$46.00M	-$58.00M	-$69.00M
Free Cash Flow	$103.00M	$105.00M	$109.00M	$86.00M	$150.00M
Depreciation & Amortisation	$45.00M	$46.00M	$46.00M	$51.00M	$47.00M
Stock-Based Compensation	$8.00M	$13.00M	$15.00M	$11.00M	$12.00M
Investing Cash Flow	-$50.00M	-$57.00M	-$76.00M	-$21.00M	-$61.00M
Financing Cash Flow	-$135.00M	-$86.00M	-$93.00M	-$82.00M	-$194.00M
Dividends Paid	-$26.00M	-$26.00M	-$26.00M	-$26.00M	-$29.00M
Net Change in Cash	-$31.00M	$4.00M	-$14.00M	—	-$36.00M

Market Snapshot

About

UL Solutions Inc. is a global safety science company that provides testing, inspection, certification, and advisory services. The company helps ensure the safety, security, and sustainability of products, components, materials, and systems. UL Solutions serves diverse industries including electronics, automotive, healthcare, and industrial sectors.