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UL Solutions Inc.

ULS Industrials Specialty Business Services

UL Solutions Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.1 billion, up 6.38% from fiscal 2024.

Revenue: +5.11%
EPS: +6.00%
Free cash flow: +41.3%
Total debt: +40.4%

Quarter to September 2026, against a year earlier

79.80 0.60 −0.75%

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Market cap: $16.2B
P/E: 31.5×
Fwd P/E: 26.9×
Dividend yield: 0.71%
F-score: 7/9
Altman Z: 7.80
Beneish M: −2.77
Dividend safety: 81/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

UL Solutions Inc. (ULS) Price to free cash flow

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As of 3 November 2026, UL Solutions Inc. (ULS) trades at a price to free cash flow of 33.6×. Over the past ten years it has ranged from 27.6× (September 2026) to 47.7× (June 2025); the current reading is higher than 15% of that period. That is above the Specialty Business Services industry median of 16.5× and above the Industrials sector median of 21.1×.

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<iframe src="https://stockrow.com/embed/ULS/price-to-free-cash-flow" width="100%" height="360" style="border:0" loading="lazy" title="UL Solutions Inc. price to free cash flow, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/ULS/metrics/price-to-free-cash-flow">UL Solutions Inc. (ULS) price to free cash flow — stockrow.com</a></p>

Period	Price to free cash flow	Change
FY2025	39.3×	13.15%
FY2024	34.8×	18.39%
FY2023	29.4×	0.00%
FY2022	29.4×	0.00%
FY2021	29.4×	—

Period	Price to free cash flow	Change
Sep 2026	27.6×	(41.61%)
Jun 2026	47.2×	23.27%
Mar 2026	38.3×	(2.67%)
Dec 2025	39.3×	7.42%
11 more quarters	Free account

Against its own ten years

Low 27.6× High 47.7×

Ten-year median 37.5×

Current reading's percentile 15

Company	Price to free cash flow
ARMK Aramark compare	n/m
RTO Rentokil Initial PLC compare	n/m
AMTM Amentum Holdings, Inc. compare	11.5×
DLB Dolby Laboratories compare	16.6×
FA First Advantage Corporation compare	19.1×
AZZ AZZ Inc. compare	19.2×
CPRT Copart, Inc. compare	23.2×
ULS UL Solutions Inc.	33.6×
UNF Unifirst Corporation compare	64.9×
Specialty Business Services industry median	16.5×
Industrials sector median	21.1×
Market median	14.2×

What Price to free cash flow is

Price to Free Cash Flow Ratio shows how much investors pay for each dollar of cash a company generates after its capital spending.

Stock Price ÷ ((Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM)) ÷ (Shares (Basic, Weighted) (latest quarter)))

The full definition of Price to free cash flow →

UL Solutions Inc. (ULS) Price to free cash flow

Price to free cash flow, daily

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Against its own ten years

Price to free cash flow against peers

What Price to free cash flow is

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Price to free cash flow, daily

Annual newest first

Quarterly newest first

Against its own ten years

Price to free cash flow against peers

What Price to free cash flow is

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