Amentum Holdings, Inc. (AMTM) vs UL Solutions Inc. (ULS)

Amentum Holdings, Inc. and UL Solutions Inc. are both Specialty Business Services companies. UL Solutions Inc. is the larger, with a market value of $13.3B against $4.8B — 2.8× the size. Amentum Holdings, Inc. trades at the lower P/E: 23.1× against 26.3×. Amentum Holdings, Inc. grew revenue faster over the last twelve months: 11.4% against 6.61%. UL Solutions Inc. has the higher net margin (16.1% vs 1.44%) and the higher return on invested capital (23.6% vs 4.57%). Across the 20 metrics below, Amentum Holdings, Inc. leads on 11 and UL Solutions Inc. on 9.

Valuation

Metric AMTM ULS Specialty Business Services median
P/E 23.12 26.31 23.86
P/S 0.33 4.24 1.06
P/B 0.98 8.24 2.37
Price to free cash flow 9.88 30.60 16.54
EV/EBITDA 7.69 17.63 11.51
EV/Sales 0.57 4.21 1.51
Earnings yield 4.33% 3.80% 2.14%
Free cash flow yield 10.12% 3.27% 1.55%

Profitability

Metric AMTM ULS Specialty Business Services median
Gross margin 10.25% 50.41% 35.31%
Operating margin 4.22% 17.86% 3.43%
Net margin 1.44% 16.05% 1.67%
Free cash flow margin 3.35% 13.86% 3.28%
Return on equity 4.35% 36.96% 0.58%
Return on assets 1.77% 16.72% 0.33%
Return on invested capital 4.57% 23.62% 0.65%

Growth

Metric AMTM ULS Specialty Business Services median
Revenue growth (TTM) 11.44% 6.61% 6.04%
EPS growth (last fiscal year) 130.00% (1.23%) —
Revenue growth, 5-year CAGR — — 7.66%
Net income growth, 5-year CAGR — — 0.00%

Health

Metric AMTM ULS Specialty Business Services median
Debt to equity 0.80 0.19 0.21
Current ratio 1.52 1.42 1.62
Net debt to EBITDA 3.47 0.28 1.16

Dividend

Metric AMTM ULS Specialty Business Services median
Dividend yield — — 1.61%
Payout ratio — — 0.00

Size

Metric AMTM ULS Specialty Business Services median
Market cap 4.79b 13.29b 879.14m

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