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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. In the quarter to June 2026, revenue grew 5.15%, EPS grew 171.1%, free cash flow fell 13.3% and total debt fell 50.5%, each against the same quarter a year earlier. Dividend growth for three consecutive years, revenue growth for three, operating cash flow growth for three; insiders bought in the last twelve months.

73.31 1.08 −1.45%
Market cap
$15.0B
P/E
29.2×
Fwd P/E
45.9×
Dividend yield
0.77%
F-score
7/9
Altman Z
7.80
Beneish M
−2.77
Dividend safety
81/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.00
Total sells 1,132.29
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — 1 — — — — — — — — — —
Sell — 2 — — — 1 5 3 1 1 — 1
Insider Ownership 61.80%

Capital & Financial Ratios $m

Market Cap 15,020.00
Revenue 3,146.00
Net Income 529.00
Free Cash Flow 436.00
Net Debt (133.00)
Current Ratio 1.42
Debt/Equity 0.19 (at or below 0.5: strong)
P/E ratio 29.21
Fwd P/E 45.90 (above 35: high)
P/S ratio 4.71
P/B ratio 9.14 (above 6: high)
Past 5Y EPS Growth —
This Y EPS Growth 16.44% (at or above 15%: strong)
Next Y EPS Growth 12.23%
Next Y revenue growth 5.24%
Next 5Y EPS Growth 13.12%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.7×, against a ten-year median of 4.7×; over the ten years it ranged from 2.8× in 2024 to 6.5× in 2026.

Dividends

Payout Ratio 0.23
Annual Dividend Rate 0.57
Annual Dividend Yield 0.77%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.58
0.15
0.15
0.15
2025 0.52
0.13
0.13
0.13
0.13
2024 0.38
0.13
0.13
0.13
2023 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 315 298 295 434
Receivables 362 380 422 471
Inventory — — — —
Other 276 243 283 329
953 921 1,000 1,234
2023 2024 2025 Q'26
Payables 169 182 183 179
ST’ Debt — 50 — —
Other 220 216 252 452
709 740 760 866

Compound Annual Growth %

10y 5y 3y
Sales — — 6.60%
Cash Flow — — 17.27%
Earnings — — 3.52%
Book Value — — 6.31%

Revenue $m

Mar Jun Sep Dec Year
’26 758 816 — — —
’25 705 776 783 789 3,053
’24 670 730 731 739 2,870
’23 629 689 676 684 2,678
’22 — — — — 2,520
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 219 160 — — —
’25 154 147 155 144 600
’24 141 103 150 130 524
’23 161 59 121 126 467
’22 — — — 372 372
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 150 91 — — —
’25 103 105 109 86 403
’24 84 47 84 72 287
’23 98 9 78 67 252
’22 — — — 208 208
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.45 1.21 — — —
’25 0.33 0.45 0.49 0.32 1.60
’24 0.28 0.50 0.44 0.40 1.62
’23 0.29 0.50 0.29 0.31 1.30
’22 — — — — 1.55
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — — — — — — — 33.15 48.54

Analyst estimates 2026–2028

Powerpack
High — — — — — — — — 59.23 91.95
People
People Employees — — — — — — — 15,233 15,094 14,851
Revenue/emp, $m — — — — — 0.00 0.00 0.18 0.19 0.21
Income, $m
Income, $m Revenue — — — — — 2,517 2,520 2,678 2,870 3,053
Gross margin, % — — — — — 46.84 47.90 47.95 48.50 49.46
EBT — — — — — 274 383 346 415 470
EBT margin, % — — — — — 10.89 15.20 12.92 14.46 15.39
Net income — — — — — 238 309 276 345 345
Depreciation — — — — — 142 135 191 172 188
Per share, $
Per share, $ Revenue — — — — — 68.37 12.60 13.39 14.35 15.19
Earnings — — — — — 6.47 1.55 1.30 1.63 1.62
Cash flow — — — — — 11.44 1.86 2.34 2.62 2.99
Capex — — — — — (2.91) (0.82) (1.07) (1.18) (0.98)
Free cash flow — — — — — 8.53 1.04 1.26 1.44 2.01
Book value — — — — — 0.00 5.39 3.39 4.66 6.44
Shares, m — — — — — 37 200 200 200 201
Valuation, ×
Valuation, × P/E — — — — — 25.50 25.50 25.50 30.41 48.68
P/S — — — — — 2.57 2.57 2.57 3.48 5.19
P/B — — — — — 10.23 10.23 10.23 10.72 12.25
EV/Sales — — — — — 2.76 2.76 2.76 3.63 5.27
EV/FCF — — — — — 31.56 31.56 31.56 36.31 39.94
Cash, $m
Cash, $m Operating cash flow — — — — — 421 372 467 524 600
Capex — — — — — (107) (164) (215) (237) (197)
Free cash flow — — — — — 314 208 252 287 403
Balance, $m
Balance, $m Working capital — — — — — — 304 244 181 240
Total debt — — — — — — 499 904 742 491
Net debt — — — — — — 126 589 444 196
Shareholders’ equity — — — — — — 1,077 678 931 1,294
Returns, %
Returns, % ROA — — — — — 0.00 21.54 9.53 11.78 11.36
ROIC — — — — — 0.00 21.40 18.15 21.00 21.90
ROE — — — — — 0.00 0.00 29.63 40.52 29.21
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

UL Solutions Inc. vs peers in Specialty Business Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CPRT Copart, Inc. $25.7B 17.9× 18.5× +2.43% (above 0%: growing) −14.63% (below 0%: shrinking) −26.98% (below 0%: shrinking) 41.78% 32.01% Compare
ULS UL Solutions Inc. $15.0B 29.2× 45.9× +5.15% (above 0%: growing) +171.11% (above 0%: growing) −13.33% (below 0%: shrinking) 51.10% 18.38%
ARMK Aramark $14.5B 37.9× 29.0× +9.33% (above 0%: growing) +37.04% (above 0%: growing) +125.89% (above 0%: growing) 8.51% 4.26% Compare
RTO Rentokil Initial PLC $10.5B 61.8× 29.4× +66.96% (above 0%: growing) +6.36% (above 0%: growing) +7.92% (above 0%: growing) 13.59% 0.00% Compare
DLB Dolby Laboratories $5.7B 25.2× 16.5× −3.34% (below 0%: shrinking) −37.50% (below 0%: shrinking) +157.37% (above 0%: growing) 86.78% 11.25% Compare
AMTM Amentum Holdings, Inc. $4.7B 23.5× 21.9× −1.99% (below 0%: shrinking) +575.00% (above 0%: growing) +35.00% (above 0%: growing) 10.32% 4.93% Compare
UNF Unifirst Corporation $4.6B 39.7× 39.4× +3.87% (above 0%: growing) −48.20% (below 0%: shrinking) −21.68% (below 0%: shrinking) 37.00% 3.63% Compare
AZZ AZZ Inc. $3.9B 23.2× 22.1× +16.68% (above 0%: growing) −34.39% (below 0%: shrinking) +115.52% (above 0%: growing) 25.08% 17.21% Compare
FA First Advantage Corporation $3.5B 132× 67.8× +14.88% (above 0%: growing) +5,455.56% (above 0%: growing) +120.17% (above 0%: growing) 45.46% 12.71% Compare
Median of peers $5.2B 31.5× 25.6× +6.60% −4.14% +75.26% 31.04% 8.09%

All 44 Specialty Business Services stocks →

UL Solutions Inc. (ULS) key facts

  • Strength: UL Solutions Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.1 billion, up 6.38% from fiscal 2024.
  • UL Solutions Inc. (ULS) is a Specialty Business Services company in the Industrials sector, listed on the New York Stock Exchange.
  • Net income was $345.0 million, or $1.62 per share (basic), a net margin of 10.7%.
  • As of October 16, 2026, ULS traded at $73.31, a market capitalization of $15.0 billion.
  • At that price the stock trades at 29.2× trailing-twelve-month earnings and 4.7× sales.
  • UL Solutions Inc. pays an annual dividend of $0.57 per share, a yield of 0.77%, with a payout ratio of 22.9%.
  • Return on equity was 29.2% and debt-to-equity 0.19.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 7.80 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

UL Solutions Inc. (ULS) Latest News

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stockrow.com/ULS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com