UL Solutions Inc. (ULS)
UL Solutions Inc., together with its subsidiaries, provides testing, inspection and certification services and related software and advisory services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building and asset owners, end users, and regulators. The Consumer segment offers safety certification testing, ongoing certification, global market access, testing for connectivity, performance and quality, and critical systems advisory and training services, as well as product market acceptance and risk mitigation services for customers in the consumer products end markets comprising consumer electronics, medical devices, information technologies, appliances, HVAC, lighting, and retail, as well as consumer applications, such as new mobility, smart products, and 5G. The Software and Advisory segment provide software and technical advisory services that enable customers to manage regulatory requirements, deliver supply chain transparency, and operationalize sustainability. It offers ULTRUS, a software that helps customers meet regulatory, supply chain, and sustainability challenges. UL Solutions Inc. was formerly known as UL Inc. and changed its name to UL Solutions Inc. in December 2021. The company was founded in 1894 and is headquartered in Northbrook, Illinois. UL Solutions Inc. operates as a subsidiary of ULSE Inc.
- Symbol
- ULS
- Exchange
- NYSE
- Sector
- Industrials
- Industry
- Specialty Business Services
- Market cap
- $13.34B
- 52 week range
- 63.17 - 107.54
Valuation
- Share price
- $65.38 (close of 2026-09-23)
- P/E (TTM)
- 26.32x
- Price to book
- 8.24x
- Price to free cash flow
- 30.61x
- Enterprise value
- $13.39B
- Book value per share
- $8.02
Price performance
| Period | Change |
|---|
| 1 day | -1.42% |
| 5 days | +0.96% |
| 1 month | -12.90% |
| 3 months | -27.11% |
| 6 months | -24.00% |
| Year to date | -17.09% |
| 1 year | -5.01% |
| All time | +87.12% |
Profitability and growth
- Return on equity
- 25.12%
- Return on invested capital
- 23.60%
- Return on assets
- 11.13%
- Return on capital employed
- 24.16%
- Gross margin
- 49.46%
- Net margin
- 10.65%
- EBITDA margin
- 23.26%
- Revenue growth
- 6.38%
- Net income growth
- -0.31%
- Free cash flow growth
- 40.42%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 3.27%
- Current ratio
- 1.42x
- Net debt to EBITDA
- 0.04x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $3.05B
- Cost of revenue
- $1.54B
- Gross profit
- $1.51B
- EBITDA
- $710.00M
- Net income
- $325.00M
- Earnings per share
- $1.62
- Shares outstanding
- 201.00M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $3.05B | $1.51B | $325.00M | $1.62 |
| 2024-12-31 | $2.87B | $1.39B | $326.00M | $1.63 |
| 2023-12-31 | $2.68B | $1.28B | $260.00M | $1.30 |
| 2022-12-31 | $2.52B | $1.21B | $293.00M | $1.47 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 49.46% | 10.65% | 25.12% | 23.60% |
| 2024-12-31 | 48.50% | 11.36% | 35.02% | 25.00% |
| 2023-12-31 | 47.95% | 9.71% | 38.35% | 20.90% |
| 2022-12-31 | 47.90% | 11.63% | 27.21% | 23.89% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $295.00M | $491.00M |
| 2024-12-31 | $298.00M | $692.00M |
| 2023-12-31 | $315.00M | $904.00M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $403.00M | $47.00M |
| 2024-12-31 | $287.00M | $23.00M |
| 2023-12-31 | $252.00M | - |
| 2022-12-31 | $208.00M | - |
Dividend history
- Most recent payment
- 2026-08-31
- Paid in the last twelve months
- $0.56
| Payment date | Dividend per share |
|---|
| 2026-08-31 | $0.14 |
| 2026-05-29 | $0.14 |
| 2026-03-02 | $0.14 |
| 2025-11-28 | $0.13 |
| 2025-08-29 | $0.13 |
| 2025-05-30 | $0.13 |
| 2025-02-28 | $0.13 |
| 2024-11-29 | $0.13 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-03
- Consensus EPS estimate
- $0.56
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-04 | Jun/2026 | $0.52 |
| 2026-05-05 | - | - |
| 2026-02-19 | - | - |
| 2025-11-04 | - | - |
| 2025-08-05 | - | - |
| 2025-05-06 | - | - |
| 2025-02-20 | - | - |
| 2024-11-05 | - | - |
Filings and sources
- Company website
- ul.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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