UL Solutions Inc. (ULS) 10-Year Financial Performance & Capital Metrics

ULS • • Industrial / General

IndustrialsBusiness ServicesProfessional & Technical ServicesTesting & Certification Services

AboutUL Solutions Inc. provides safety science 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 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 for regulated industries, including life sciences, supply chain regulations, transparency needs, and new ESG and sustainability requirements. It offers ULTRUS software brand to help customers improve speed to market, sustainability and safety. UL Solutions Inc. was formerly known as UL Inc. and changed its name to UL Solutions Inc. in June 2022. The company was founded in 1894 and is headquartered in Northbrook, Illinois with additional offices in North America, Asia Pacific, Africa, Europe, Latin America, and Middle East. UL Solutions Inc. operates as a subsidiary of ULSE Inc.Show more

Revenue $2.87B +7.2%
EBITDA $634M +13.4%
Net Income $326M +25.4%
EPS (Diluted) 1.62 +24.6%
Gross Margin 48.08% +1.8%
EBITDA Margin 22.09% +5.8%
Operating Margin 16.1% +6.4%
Net Margin 11.36% +17.0%
ROE 40.52% +36.8%
ROIC 23.15% +8.2%
Debt/Equity 1.00 -35.9%
Interest Coverage 8.40 -27.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 29.1%
✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Healthy 5Y average net margin of 10.3%
✓Efficient asset utilization: 1.0x turnover

✗Weaknesses

✗Expensive at 16.7x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y4.47%

TTM6.68%

Profit (Net Income) CAGR

10Y-

5Y-

3Y13.32%

TTM11.88%

EPS CAGR

10Y-

5Y-

3Y13.09%

TTM9.87%

ROCE

10Y Avg16.4%

5Y Avg16.4%

3Y Avg19.81%

Latest22.61%

Peer Comparison

Testing & Certification Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ULSUL Solutions Inc.	5.96B	77.13	47.61	7.17%	11.29%	27.79%	4.82%	1.00

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.3B	2.52B	2.52B	2.68B	2.87B
Revenue Growth %	-	0.09%	0%	0.06%	0.07%
Cost of Goods Sold+	1.27B	1.34B	1.31B	1.41B	1.49B
COGS % of Revenue	0.55%	0.53%	0.52%	0.53%	0.52%
Gross Profit+	1.03B	1.18B	1.21B	1.26B	1.38B
Gross Margin %	0.45%	0.47%	0.48%	0.47%	0.48%
Gross Profit Growth %	-	0.14%	0.02%	0.05%	0.09%
Operating Expenses+	668M	892M	795M	860M	918M
OpEx % of Revenue	0.29%	0.35%	0.32%	0.32%	0.32%
Selling, General & Admin	668M	892M	795M	860M	918M
SG&A % of Revenue	0.29%	0.35%	0.32%	0.32%	0.32%
Research & Development	0	0	0	0	59M
R&D % of Revenue	-	-	-	-	0.02%
Other Operating Expenses	0	0	0	0	-59M
Operating Income+	363M	287M	412M	405M	462M
Operating Margin %	0.16%	0.11%	0.16%	0.15%	0.16%
Operating Income Growth %	-	-0.21%	0.44%	-0.02%	0.14%
EBITDA+	510M	429M	547M	559M	634M
EBITDA Margin %	0.22%	0.17%	0.22%	0.21%	0.22%
EBITDA Growth %	-	-0.16%	0.28%	0.02%	0.13%
D&A (Non-Cash Add-back)	147M	142M	135M	154M	172M
EBIT	334M	275M	400M	381M	470M
Net Interest Income+	-1M	-1M	-17M	-23M	-51M
Interest Income	0	0	0	12M	4M
Interest Expense	1M	1M	17M	35M	55M
Other Income/Expense	-30M	-13M	-29M	-59M	-47M
Pretax Income+	333M	274M	383M	346M	415M
Pretax Margin %	0.14%	0.11%	0.15%	0.13%	0.14%
Income Tax+	90M	36M	74M	70M	70M
Effective Tax Rate %	0.69%	0.82%	0.77%	0.75%	0.79%
Net Income+	231M	224M	293M	260M	326M
Net Margin %	0.1%	0.09%	0.12%	0.1%	0.11%
Net Income Growth %	-	-0.03%	0.31%	-0.11%	0.25%
Net Income (Continuing)	243M	238M	309M	276M	345M
Discontinued Operations	0	0	0	0	0
Minority Interest	20M	21M	23M	24M	27M
EPS (Diluted)+	1.16	1.12	1.47	1.30	1.62
EPS Growth %	-	-0.03%	0.31%	-0.12%	0.25%
EPS (Basic)	1.16	1.12	1.47	1.30	1.63
Diluted Shares Outstanding	200M	200M	200M	200M	201M
Basic Shares Outstanding	200M	200M	200M	200M	200M
Dividend Payout Ratio	0.04%	0.89%	5.46%	2.62%	0.31%

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.59B	2B	998M	953M	921M
Cash & Short-Term Investments	971M	1.38B	373M	315M	298M
Cash Only	971M	1.33B	322M	315M	298M
Short-Term Investments	0	47M	51M	0	0
Accounts Receivable	566M	557M	587M	590M	586M
Days Sales Outstanding	89.78	80.77	85.02	80.41	74.53
Inventory	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-
Other Current Assets	57M	6M	5M	13M	4M
Total Non-Current Assets+	1.96B	1.66B	1.72B	1.78B	1.88B
Property, Plant & Equipment	609M	602M	637M	706M	817M
Fixed Asset Turnover	3.78x	4.18x	3.96x	3.79x	3.51x
Goodwill	593M	621M	647M	623M	633M
Intangible Assets	209M	196M	200M	211M	185M
Long-Term Investments	409M	44M	62M	64M	58M
Other Non-Current Assets	137M	34M	48M	69M	78M
Total Assets+	3.55B	3.66B	2.72B	2.74B	2.8B
Asset Turnover	0.65x	0.69x	0.93x	0.98x	1.03x
Asset Growth %	-	0.03%	-0.26%	0.01%	0.02%
Total Current Liabilities+	670M	792M	694M	709M	740M
Accounts Payable	131M	179M	153M	169M	182M
Days Payables Outstanding	37.65	48.83	42.53	43.66	44.58
Short-Term Debt	3M	0	0	0	50M
Deferred Revenue (Current)	0	1000K	1000K	1000K	1000K
Other Current Liabilities	179M	413M	357M	339M	54M
Current Ratio	2.38x	2.52x	1.44x	1.34x	1.24x
Quick Ratio	2.38x	2.52x	1.44x	1.34x	1.24x
Cash Conversion Cycle	-	-	-	-	-
Total Non-Current Liabilities+	609M	538M	949M	1.35B	1.13B
Long-Term Debt	0	0	499M	904M	692M
Capital Lease Obligations	116M	118M	119M	120M	155M
Deferred Tax Liabilities	0	15M	0	0	0
Other Non-Current Liabilities	493M	405M	331M	325M	282M
Total Liabilities	1.28B	1.33B	1.64B	2.06B	1.87B
Total Debt+	161M	154M	660M	1.06B	935M
Net Debt	-810M	-1.17B	338M	748M	637M
Debt / Equity	0.07x	0.07x	0.61x	1.57x	1.00x
Debt / EBITDA	0.32x	0.36x	1.21x	1.90x	1.47x
Net Debt / EBITDA	-1.59x	-2.74x	0.62x	1.34x	1.00x
Interest Coverage	363.00x	287.00x	24.24x	11.57x	8.40x
Total Equity+	2.27B	2.33B	1.08B	678M	931M
Equity Growth %	-	0.03%	-0.54%	-0.37%	0.37%
Book Value per Share	11.36	11.66	5.39	3.39	4.63
Total Shareholders' Equity	2.25B	2.31B	1.05B	654M	904M
Common Stock	0	0	0	0	0
Retained Earnings	1.49B	1.52B	211M	24M	250M
Treasury Stock	0	0	0	0	0
Accumulated OCI	-251M	-216M	-166M	-146M	-167M
Minority Interest	20M	21M	23M	24M	27M

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	487M	421M	372M	467M	524M
Operating CF Margin %	0.21%	0.17%	0.15%	0.17%	0.18%
Operating CF Growth %	-	-0.14%	-0.12%	0.26%	0.12%
Net Income	231M	224M	293M	260M	326M
Depreciation & Amortization	147M	142M	135M	154M	172M
Stock-Based Compensation	12M	135M	-1M	0	54M
Deferred Taxes	0	-70M	10M	11M	0
Other Non-Cash Items	31M	-111M	43M	60M	-11M
Working Capital Changes	66M	101M	-108M	-18M	-17M
Change in Receivables	-10M	-1M	-15M	6M	-28M
Change in Inventory	0	0	0	0	0
Change in Payables	8M	30M	-18M	1M	13M
Cash from Investing+	-344M	178M	-238M	-175M	-234M
Capital Expenditures	-119M	-107M	-164M	-215M	-237M
CapEx % of Revenue	0.05%	0.04%	0.07%	0.08%	0.08%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	0	0	0	9M	29M
Cash from Financing+	-20M	-228M	-1.12B	-294M	-284M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	-9M	-200M	-1.6B	-680M	-100M
Share Repurchases	-	-	-	-	-
Other Financing	-11M	-28M	-16M	-24M	-19M
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	368M	314M	208M	252M	287M
FCF Margin %	0.16%	0.12%	0.08%	0.09%	0.1%
FCF Growth %	-	-0.15%	-0.34%	0.21%	0.14%
FCF per Share	1.84	1.57	1.04	1.26	1.43
FCF Conversion (FCF/Net Income)	2.11x	1.88x	1.27x	1.80x	1.61x
Interest Paid	0	1M	17M	32M	57M
Taxes Paid	0	132M	68M	57M	66M

Key Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	10.17%	9.73%	17.19%	29.63%	40.52%
Return on Invested Capital (ROIC)	18.62%	16.43%	24.02%	21.38%	23.15%
Gross Margin	44.81%	46.84%	47.9%	47.24%	48.08%
Net Margin	10.04%	8.9%	11.63%	9.71%	11.36%
Debt / Equity	0.07x	0.07x	0.61x	1.57x	1.00x
Interest Coverage	363.00x	287.00x	24.24x	11.57x	8.40x
FCF Conversion	2.11x	1.88x	1.27x	1.80x	1.61x
Revenue Growth	-	9.39%	0.12%	6.27%	7.17%

Revenue by Segment

	2024
Software	273M
Software Growth	-

Revenue by Geography

	2024
UNITED STATES	1.18B
UNITED STATES Growth	-
CHINA	710M
CHINA Growth	-
EMEA	496M
EMEA Growth	-
Asia Pacific	375M
Asia Pacific Growth	-
Other Americas	111M
Other Americas Growth	-

Frequently Asked Questions

Valuation & Price

UL Solutions Inc. (ULS) has a price-to-earnings (P/E) ratio of 47.6x. This suggests investors expect higher future growth.

Growth & Financials

UL Solutions Inc. (ULS) reported $3.00B in revenue for fiscal year 2024. This represents a 31% increase from $2.30B in 2020.

UL Solutions Inc. (ULS) grew revenue by 7.2% over the past year. This is steady growth.

Yes, UL Solutions Inc. (ULS) is profitable, generating $339.0M in net income for fiscal year 2024 (11.4% net margin).

Dividend & Returns

Yes, UL Solutions Inc. (ULS) pays a dividend with a yield of 0.65%. This makes it attractive for income-focused investors.

UL Solutions Inc. (ULS) has a return on equity (ROE) of 40.5%. This is excellent, indicating efficient use of shareholder capital.

UL Solutions Inc. (ULS) generated $389.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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UL Solutions Inc. (ULS) 10-Year Financial Performance & Capital Metrics

ULS • • Industrial / General

IndustrialsBusiness ServicesProfessional & Technical ServicesTesting & Certification Services

Revenue $2.87B +7.2%
EBITDA $634M +13.4%
Net Income $326M +25.4%
EPS (Diluted) 1.62 +24.6%
Gross Margin 48.08% +1.8%
EBITDA Margin 22.09% +5.8%
Operating Margin 16.1% +6.4%
Net Margin 11.36% +17.0%
ROE 40.52% +36.8%
ROIC 23.15% +8.2%
Debt/Equity 1.00 -35.9%
Interest Coverage 8.40 -27.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 29.1%
✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Healthy 5Y average net margin of 10.3%
✓Efficient asset utilization: 1.0x turnover

✗Weaknesses

✗Expensive at 16.7x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y4.47%

TTM6.68%

Profit (Net Income) CAGR

10Y-

5Y-

3Y13.32%

TTM11.88%

EPS CAGR

10Y-

5Y-

3Y13.09%

TTM9.87%

ROCE

10Y Avg16.4%

5Y Avg16.4%

3Y Avg19.81%

Latest22.61%

Peer Comparison

Testing & Certification Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ULSUL Solutions Inc.	5.96B	77.13	47.61	7.17%	11.29%	27.79%	4.82%	1.00

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.3B	2.52B	2.52B	2.68B	2.87B
Revenue Growth %	-	0.09%	0%	0.06%	0.07%
Cost of Goods Sold+	1.27B	1.34B	1.31B	1.41B	1.49B
COGS % of Revenue	0.55%	0.53%	0.52%	0.53%	0.52%
Gross Profit+	1.03B	1.18B	1.21B	1.26B	1.38B
Gross Margin %	0.45%	0.47%	0.48%	0.47%	0.48%
Gross Profit Growth %	-	0.14%	0.02%	0.05%	0.09%
Operating Expenses+	668M	892M	795M	860M	918M
OpEx % of Revenue	0.29%	0.35%	0.32%	0.32%	0.32%
Selling, General & Admin	668M	892M	795M	860M	918M
SG&A % of Revenue	0.29%	0.35%	0.32%	0.32%	0.32%
Research & Development	0	0	0	0	59M
R&D % of Revenue	-	-	-	-	0.02%
Other Operating Expenses	0	0	0	0	-59M
Operating Income+	363M	287M	412M	405M	462M
Operating Margin %	0.16%	0.11%	0.16%	0.15%	0.16%
Operating Income Growth %	-	-0.21%	0.44%	-0.02%	0.14%
EBITDA+	510M	429M	547M	559M	634M
EBITDA Margin %	0.22%	0.17%	0.22%	0.21%	0.22%
EBITDA Growth %	-	-0.16%	0.28%	0.02%	0.13%
D&A (Non-Cash Add-back)	147M	142M	135M	154M	172M
EBIT	334M	275M	400M	381M	470M
Net Interest Income+	-1M	-1M	-17M	-23M	-51M
Interest Income	0	0	0	12M	4M
Interest Expense	1M	1M	17M	35M	55M
Other Income/Expense	-30M	-13M	-29M	-59M	-47M
Pretax Income+	333M	274M	383M	346M	415M
Pretax Margin %	0.14%	0.11%	0.15%	0.13%	0.14%
Income Tax+	90M	36M	74M	70M	70M
Effective Tax Rate %	0.69%	0.82%	0.77%	0.75%	0.79%
Net Income+	231M	224M	293M	260M	326M
Net Margin %	0.1%	0.09%	0.12%	0.1%	0.11%
Net Income Growth %	-	-0.03%	0.31%	-0.11%	0.25%
Net Income (Continuing)	243M	238M	309M	276M	345M
Discontinued Operations	0	0	0	0	0
Minority Interest	20M	21M	23M	24M	27M
EPS (Diluted)+	1.16	1.12	1.47	1.30	1.62
EPS Growth %	-	-0.03%	0.31%	-0.12%	0.25%
EPS (Basic)	1.16	1.12	1.47	1.30	1.63
Diluted Shares Outstanding	200M	200M	200M	200M	201M
Basic Shares Outstanding	200M	200M	200M	200M	200M
Dividend Payout Ratio	0.04%	0.89%	5.46%	2.62%	0.31%

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.59B	2B	998M	953M	921M
Cash & Short-Term Investments	971M	1.38B	373M	315M	298M
Cash Only	971M	1.33B	322M	315M	298M
Short-Term Investments	0	47M	51M	0	0
Accounts Receivable	566M	557M	587M	590M	586M
Days Sales Outstanding	89.78	80.77	85.02	80.41	74.53
Inventory	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-
Other Current Assets	57M	6M	5M	13M	4M
Total Non-Current Assets+	1.96B	1.66B	1.72B	1.78B	1.88B
Property, Plant & Equipment	609M	602M	637M	706M	817M
Fixed Asset Turnover	3.78x	4.18x	3.96x	3.79x	3.51x
Goodwill	593M	621M	647M	623M	633M
Intangible Assets	209M	196M	200M	211M	185M
Long-Term Investments	409M	44M	62M	64M	58M
Other Non-Current Assets	137M	34M	48M	69M	78M
Total Assets+	3.55B	3.66B	2.72B	2.74B	2.8B
Asset Turnover	0.65x	0.69x	0.93x	0.98x	1.03x
Asset Growth %	-	0.03%	-0.26%	0.01%	0.02%
Total Current Liabilities+	670M	792M	694M	709M	740M
Accounts Payable	131M	179M	153M	169M	182M
Days Payables Outstanding	37.65	48.83	42.53	43.66	44.58
Short-Term Debt	3M	0	0	0	50M
Deferred Revenue (Current)	0	1000K	1000K	1000K	1000K
Other Current Liabilities	179M	413M	357M	339M	54M
Current Ratio	2.38x	2.52x	1.44x	1.34x	1.24x
Quick Ratio	2.38x	2.52x	1.44x	1.34x	1.24x
Cash Conversion Cycle	-	-	-	-	-
Total Non-Current Liabilities+	609M	538M	949M	1.35B	1.13B
Long-Term Debt	0	0	499M	904M	692M
Capital Lease Obligations	116M	118M	119M	120M	155M
Deferred Tax Liabilities	0	15M	0	0	0
Other Non-Current Liabilities	493M	405M	331M	325M	282M
Total Liabilities	1.28B	1.33B	1.64B	2.06B	1.87B
Total Debt+	161M	154M	660M	1.06B	935M
Net Debt	-810M	-1.17B	338M	748M	637M
Debt / Equity	0.07x	0.07x	0.61x	1.57x	1.00x
Debt / EBITDA	0.32x	0.36x	1.21x	1.90x	1.47x
Net Debt / EBITDA	-1.59x	-2.74x	0.62x	1.34x	1.00x
Interest Coverage	363.00x	287.00x	24.24x	11.57x	8.40x
Total Equity+	2.27B	2.33B	1.08B	678M	931M
Equity Growth %	-	0.03%	-0.54%	-0.37%	0.37%
Book Value per Share	11.36	11.66	5.39	3.39	4.63
Total Shareholders' Equity	2.25B	2.31B	1.05B	654M	904M
Common Stock	0	0	0	0	0
Retained Earnings	1.49B	1.52B	211M	24M	250M
Treasury Stock	0	0	0	0	0
Accumulated OCI	-251M	-216M	-166M	-146M	-167M
Minority Interest	20M	21M	23M	24M	27M

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	487M	421M	372M	467M	524M
Operating CF Margin %	0.21%	0.17%	0.15%	0.17%	0.18%
Operating CF Growth %	-	-0.14%	-0.12%	0.26%	0.12%
Net Income	231M	224M	293M	260M	326M
Depreciation & Amortization	147M	142M	135M	154M	172M
Stock-Based Compensation	12M	135M	-1M	0	54M
Deferred Taxes	0	-70M	10M	11M	0
Other Non-Cash Items	31M	-111M	43M	60M	-11M
Working Capital Changes	66M	101M	-108M	-18M	-17M
Change in Receivables	-10M	-1M	-15M	6M	-28M
Change in Inventory	0	0	0	0	0
Change in Payables	8M	30M	-18M	1M	13M
Cash from Investing+	-344M	178M	-238M	-175M	-234M
Capital Expenditures	-119M	-107M	-164M	-215M	-237M
CapEx % of Revenue	0.05%	0.04%	0.07%	0.08%	0.08%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	0	0	0	9M	29M
Cash from Financing+	-20M	-228M	-1.12B	-294M	-284M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	-9M	-200M	-1.6B	-680M	-100M
Share Repurchases	-	-	-	-	-
Other Financing	-11M	-28M	-16M	-24M	-19M
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	368M	314M	208M	252M	287M
FCF Margin %	0.16%	0.12%	0.08%	0.09%	0.1%
FCF Growth %	-	-0.15%	-0.34%	0.21%	0.14%
FCF per Share	1.84	1.57	1.04	1.26	1.43
FCF Conversion (FCF/Net Income)	2.11x	1.88x	1.27x	1.80x	1.61x
Interest Paid	0	1M	17M	32M	57M
Taxes Paid	0	132M	68M	57M	66M

Key Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	10.17%	9.73%	17.19%	29.63%	40.52%
Return on Invested Capital (ROIC)	18.62%	16.43%	24.02%	21.38%	23.15%
Gross Margin	44.81%	46.84%	47.9%	47.24%	48.08%
Net Margin	10.04%	8.9%	11.63%	9.71%	11.36%
Debt / Equity	0.07x	0.07x	0.61x	1.57x	1.00x
Interest Coverage	363.00x	287.00x	24.24x	11.57x	8.40x
FCF Conversion	2.11x	1.88x	1.27x	1.80x	1.61x
Revenue Growth	-	9.39%	0.12%	6.27%	7.17%

Revenue by Segment

	2024
Software	273M
Software Growth	-

Revenue by Geography

	2024
UNITED STATES	1.18B
UNITED STATES Growth	-
CHINA	710M
CHINA Growth	-
EMEA	496M
EMEA Growth	-
Asia Pacific	375M
Asia Pacific Growth	-
Other Americas	111M
Other Americas Growth	-

Frequently Asked Questions

Valuation & Price

UL Solutions Inc. (ULS) has a price-to-earnings (P/E) ratio of 47.6x. This suggests investors expect higher future growth.

Growth & Financials

UL Solutions Inc. (ULS) reported $3.00B in revenue for fiscal year 2024. This represents a 31% increase from $2.30B in 2020.

UL Solutions Inc. (ULS) grew revenue by 7.2% over the past year. This is steady growth.

Yes, UL Solutions Inc. (ULS) is profitable, generating $339.0M in net income for fiscal year 2024 (11.4% net margin).

Dividend & Returns

Yes, UL Solutions Inc. (ULS) pays a dividend with a yield of 0.65%. This makes it attractive for income-focused investors.

UL Solutions Inc. (ULS) has a return on equity (ROE) of 40.5%. This is excellent, indicating efficient use of shareholder capital.

UL Solutions Inc. (ULS) generated $389.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.