ULS · Ul Solutions Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $758.00M | - | $783.00M | $776.00M | $705.00M | - | $731.00M | $689.00M | $670.00M | - |
| Cost of Revenue | $377.00M | - | $389.00M | $393.00M | $364.00M | - | $373.00M | $364.00M | $351.00M | - |
| Gross Profit | $381.00M | - | $394.00M | $383.00M | $341.00M | - | $358.00M | $325.00M | $319.00M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $243.00M | - | $238.00M | $244.00M | $232.00M | - | $228.00M | $220.00M | $228.00M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $47.00M | - | - | - | $45.00M | - | - | - | $41.00M | - |
| Operating Income | $138.00M | - | $156.00M | $139.00M | $109.00M | - | $89.00M | $117.00M | $91.00M | - |
| Interest Expense | $8.00M | - | $10.00M | $10.00M | $12.00M | - | $7.00M | $8.00M | $15.00M | - |
| Income Tax | $32.00M | - | $40.00M | $28.00M | $23.00M | - | $18.00M | $28.00M | $13.00M | - |
| Net Income | $92.00M | - | $100.00M | $91.00M | $67.00M | - | $53.00M | $101.00M | $56.00M | - |
| EPS - Basic | $0.46 | - | $0.50 | $0.45 | $0.34 | - | $0.44 | $0.47 | $0.28 | - |
| EPS - Diluted | $0.45 | - | $0.49 | $0.45 | $0.33 | - | $0.44 | $0.50 | $0.28 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $258.00M | $295.00M | $255.00M | $272.00M | $267.00M | $298.00M | $327.00M | $295.00M | $315.00M | $1.33B |
| Accounts Receivable | $497.00M | $422.00M | $386.00M | $424.00M | $463.00M | $380.00M | $354.00M | $381.00M | $429.00M | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $168.00M | $183.00M | $151.00M | $139.00M | $143.00M | $182.00M | $138.00M | $134.00M | $156.00M | - |
| Current Assets | $1.05B | $1.00B | $995.00M | $1.01B | $998.00M | $921.00M | $977.00M | $957.00M | $953.00M | - |
| Total Assets | $2.96B | $2.92B | $2.90B | $2.92B | $2.88B | $2.80B | $2.88B | $2.74B | $2.74B | - |
| Current Liabilities | $899.00M | $760.00M | $749.00M | $765.00M | $804.00M | $740.00M | $745.00M | $740.00M | $709.00M | - |
| Long-term Debt | $357.00M | $491.00M | $544.00M | $608.00M | $653.00M | $692.00M | $760.00M | $785.00M | $867.00M | - |
| Total Liabilities | $1.62B | $1.63B | $1.68B | $1.81B | $1.89B | $1.87B | $1.98B | $1.96B | $2.06B | - |
| Stockholders' Equity | $1.32B | $1.26B | $1.19B | $1.09B | $970.00M | $904.00M | $872.00M | $769.00M | $654.00M | $2.33B |
| Retained Earnings | $533.00M | $470.00M | $429.00M | $356.00M | $291.00M | $250.00M | $194.00M | $131.00M | $24.00M | - |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $219.00M | - | - | - | $154.00M | - | - | - | $141.00M | - |
| Investing Cash Flow | ($61.00M) | - | - | - | ($50.00M) | - | - | - | ($57.00M) | - |
| Financing Cash Flow | ($194.00M) | - | - | - | ($135.00M) | - | - | - | ($49.00M) | - |
| CapEx | $69.00M | - | - | - | $51.00M | - | - | - | $57.00M | - |
| Free Cash Flow | $150.00M | - | - | - | $103.00M | - | - | - | $84.00M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 50.3% | - | 50.3% | 49.4% | 48.4% | - | 49.0% | 47.2% | 47.6% | - |
| Operating margin | 18.2% | - | 19.9% | 17.9% | 15.5% | - | 12.2% | 17.0% | 13.6% | - |
| EBITDA margin | 24.4% | - | - | - | 21.8% | - | - | - | 19.7% | - |
| Net margin | 12.1% | - | 12.8% | 11.7% | 9.5% | - | 7.3% | 14.7% | 8.4% | - |
| Free cash flow margin | 19.8% | - | - | - | 14.6% | - | - | - | 12.5% | - |
| FCF / Net income | 1.63 | - | - | - | 1.54 | - | - | - | 1.50 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 32.1% | - | 30.4% | 31.4% | 32.9% | - | 31.2% | 31.9% | 34.0% | - |
| Effective tax rate | 25.8% | - | 28.6% | 23.5% | 25.6% | - | 25.4% | 21.7% | 18.8% | - |
| Return on assets | 3.1% | - | 3.5% | 3.1% | 2.3% | - | 1.8% | 3.7% | 2.0% | - |
| Return on equity | 7.0% | - | 8.4% | 8.3% | 6.9% | - | 6.1% | 13.1% | 8.6% | - |
| Return on invested capital | 6.1% | - | 6.4% | 6.2% | 5.0% | - | 4.1% | 5.9% | 4.9% | - |
| Liquidity | ||||||||||
| Current ratio | 1.16 | 1.32 | 1.33 | 1.32 | 1.24 | 1.24 | 1.31 | 1.29 | 1.34 | - |
| Quick ratio | 1.16 | 1.32 | 1.33 | 1.32 | 1.24 | 1.24 | 1.31 | 1.29 | 1.34 | - |
| Cash ratio | 0.29 | 0.39 | 0.34 | 0.36 | 0.33 | 0.40 | 0.44 | 0.40 | 0.44 | - |
| Leverage | ||||||||||
| Debt / Equity | 0.27 | 0.39 | 0.46 | 0.56 | 0.67 | 0.77 | 0.87 | 1.02 | 1.33 | - |
| Debt / Assets | 0.12 | 0.17 | 0.19 | 0.21 | 0.23 | 0.25 | 0.26 | 0.29 | 0.32 | - |
| Debt / EBITDA | 1.93 | - | - | - | 4.24 | - | - | - | 6.57 | - |
| Interest coverage | 17.3x | - | 15.6x | 13.9x | 9.1x | - | 12.7x | 14.6x | 6.1x | - |
| Equity multiplier | 2.24 | 2.31 | 2.43 | 2.67 | 2.97 | 3.10 | 3.30 | 3.57 | 4.18 | - |
| Liabilities / Assets | 0.55 | 0.56 | 0.58 | 0.62 | 0.66 | 0.67 | 0.69 | 0.71 | 0.75 | - |
| Efficiency | ||||||||||
| Asset turnover | 0.26 | - | 0.27 | 0.27 | 0.24 | - | 0.25 | 0.25 | 0.24 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 239d | - | 180d | 199d | 240d | - | 177d | 202d | 234d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 163d | - | 142d | 129d | 143d | - | 135d | 134d | 162d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 190.5x | - | 144.6x | 161.9x | 170.9x | - | 112.0x | 84.4x | - | - |
| P / B | 13.3x | - | 12.1x | 13.5x | 11.8x | - | 11.4x | 11.0x | - | - |
| P / S | 23.1x | - | 18.4x | 19.1x | 16.2x | - | 13.6x | 12.2x | - | - |
| EV / EBITDA | 95.0x | - | - | - | 76.9x | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 7.5% | - | 7.1% | 12.6% | 5.2% | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | 11.7% | - | 10.1% | 17.8% | 6.9% | - | - | - | - | - |
| Operating income growth (YoY) | 26.6% | - | 75.3% | 18.8% | 19.8% | - | - | - | - | - |
| Net income growth (YoY) | 37.3% | - | 88.7% | -9.9% | 19.6% | - | - | - | - | - |
| EPS growth (YoY) | 36.4% | - | 11.4% | -10.0% | 17.9% | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 45.6% | - | - | - | 22.6% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 36.0% | 39.6% | 36.8% | 42.1% | 48.3% | - | - | - | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$3.05B totalIndustrial$1.34B · 43.9%
Consumer$1.32B · 43.2%
Software And Advisory$393.00M · 12.9%
Product / service
$3.05B totalOngoing Certification Services$1.01B · 33.0%
Non Certification Testing And Other Services$911.00M · 29.8%
Certification Testing$851.00M · 27.9%
Software$285.00M · 9.3%
Geographic
$3.05B totalUS$1.25B · 41.0%
CN$761.00M · 24.9%
EMEA$529.00M · 17.3%
Asia Pacific$398.00M · 13.0%
Other Americas$112.00M · 3.7%
Peer comparison
Same SIC group: Services-Testing Laboratories
Comparing UL Solutions Inc. against the 4 most active filers in the same SIC group.
Dividends
$0.55/share trailing 12 months · +7.8% YoY
| Ex-date | Per share |
|---|---|
| May 29, 2026 | $0.1450 |
| Mar 2, 2026 | $0.1450 |
| Nov 28, 2025 | $0.1300 |
| Aug 29, 2025 | $0.1300 |
| May 30, 2025 | $0.1300 |
| Feb 28, 2025 | $0.1300 |
| Nov 29, 2024 | $0.1250 |
| Aug 30, 2024 | $0.1250 |
| Jun 3, 2024 | $0.1250 |