Last 15 quarters of trend data · Industrials · Specialty Business Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
UL Solutions Inc.'s quarterly P/E stands at 47.6x, up 11.4% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 64.9% YoY to 32.2x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 62.09 | 47.62 | 61.61 | 36.15 | 40.48 | 42.73 | 31.18 | 28.01 | 20.68 | — | — | — | — |
| — | +11.4% | +97.6% | +29.1% | +95.7% | — | — | — | — | — | — | — | — | |
| P/S Ratio | 6.54 | 5.77 | 5.10 | 4.59 | 4.77 | 4.06 | 3.41 | 3.37 | 2.89 | — | — | — | — |
| — | +42.0% | +49.5% | +36.2% | +64.9% | — | — | — | — | — | — | — | — | |
| P/B Ratio | 15.58 | 13.09 | 12.43 | 11.79 | 13.29 | 11.64 | 10.82 | 11.01 | 10.74 | — | — | — | — |
| — | +12.5% | +14.9% | +7.1% | +23.8% | — | — | — | — | — | — | — | — | |
| P/FCF | 49.53 | — | 46.77 | 32.99 | 35.22 | 27.79 | 34.99 | 29.35 | 44.88 | — | — | — | — |
| — | — | +33.7% | +12.4% | -21.5% | — | — | — | — | — | — | — | — | |
| EV / EBITDA | 27.04 | 32.18 | 19.15 | 18.40 | 20.71 | 19.52 | 16.53 | 15.20 | 13.59 | — | — | — | — |
| — | +64.9% | +15.9% | +21.0% | +52.3% | — | — | — | — | — | — | — | — | |
| EV / EBIT | 39.24 | 32.18 | 39.32 | 23.82 | 28.38 | 28.36 | 25.51 | 20.23 | 15.44 | — | — | — | — |
| — | +13.5% | +54.2% | +17.7% | +83.7% | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
UL Solutions Inc.'s operating margin was 18.2% in Q1 2026, up 3.2 pp QoQ and up 2.7 pp YoY. Gross margin expanded 4.8% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 49.1% | 50.3% | 48.9% | 50.3% | 49.0% | 47.9% | 47.4% | 49.0% | 50.1% | 47.6% | 46.3% | 49.1% | 48.9% |
| — | +4.8% | +3.2% | +2.7% | -2.3% | +0.7% | +2.2% | -0.3% | +2.5% | +1.9% | -6.6% | +4.1% | — | |
| Operating Margin | 17.1% | 18.2% | 15.0% | 19.9% | 17.9% | 15.5% | 15.6% | 17.8% | 17.3% | 13.6% | 12.7% | 18.8% | 17.0% |
| — | +17.8% | -3.6% | +12.0% | +3.8% | +13.8% | +22.3% | -5.3% | +1.6% | +13.9% | -13.0% | +1.8% | — | |
| Net Margin | 10.6% | 12.1% | 8.4% | 12.8% | 11.7% | 9.5% | 11.0% | 12.0% | 13.8% | 8.4% | 8.5% | 7.8% | 13.6% |
| — | +27.7% | -23.7% | +6.1% | -15.2% | +13.7% | +29.3% | +53.5% | +1.4% | -4.4% | -31.6% | -30.2% | — |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 29.2% | 7.0% | 5.3% | 8.6% | 8.7% | 7.0% | 8.9% | 10.5% | 13.8% | 8.2% | 6.2% | 4.5% | 8.2% |
| — | -0.0% | -40.8% | -18.1% | -36.9% | -15.0% | +43.3% | +134.2% | +68.0% | +64.5% | -20.2% | -40.3% | — | |
| ROA | 11.4% | 3.1% | 2.3% | 3.4% | 3.1% | 2.4% | 2.9% | 3.1% | 3.6% | 2.0% | 2.1% | 1.9% | 3.3% |
| — | +32.7% | -20.5% | +9.7% | -13.6% | +17.1% | +36.3% | +66.9% | +11.1% | +3.2% | -27.9% | -28.8% | — | |
| ROIC | 23.1% | 6.0% | 5.0% | 7.0% | 6.5% | 5.2% | 5.5% | 6.5% | 6.8% | 4.9% | 4.6% | 6.8% | 6.3% |
| — | +14.9% | -9.0% | +7.0% | -4.1% | +6.6% | +19.1% | -4.0% | +8.1% | +22.1% | -9.6% | +0.5% | — |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
UL Solutions Inc.'s Debt/EBITDA ratio is 3.9x — at a moderate level that warrants monitoring. The current ratio has weakened 6.2% YoY to 1.16x, tightening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.64 | 0.40 | 0.64 | 0.60 | 0.72 | 0.86 | 1.00 | 1.10 | 1.19 | 1.49 | 1.57 | 0.54 | 0.55 |
| — | -52.9% | -36.0% | -45.2% | -39.4% | -42.6% | -35.9% | +103.5% | +116.1% | +145.0% | +155.8% | -30.9% | — | |
| Debt / EBITDA | 1.10 | 3.91 | 3.83 | 3.64 | 4.35 | 5.47 | 5.77 | 5.71 | 5.62 | 7.73 | 8.18 | 3.95 | 4.19 |
| — | -28.6% | -33.6% | -36.1% | -22.5% | -29.2% | -29.4% | +44.4% | +34.1% | +25.4% | +54.9% | -19.6% | — | |
| Current Ratio | 1.32 | 1.16 | 1.32 | 1.33 | 1.32 | 1.24 | 1.24 | 1.31 | 1.29 | 1.27 | 1.34 | 1.61 | 1.52 |
| — | -6.2% | +5.7% | +1.3% | +2.0% | -2.1% | -7.4% | -18.3% | -14.7% | -11.6% | -6.5% | +10.4% | — | |
| Quick Ratio | 1.32 | 1.16 | 1.32 | 1.33 | 1.32 | 1.24 | 1.24 | 1.31 | 1.29 | 1.27 | 1.34 | 1.61 | 1.52 |
| — | -6.2% | +5.7% | +1.3% | +2.0% | -2.1% | -7.4% | -18.3% | -14.7% | -11.6% | -6.5% | +10.4% | — | |
| Interest Coverage | 12.26 | 17.25 | 11.74 | 15.60 | 13.50 | 8.83 | 8.08 | 9.29 | 11.31 | 5.87 | 7.58 | 11.71 | 16.00 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 15 years · Updated daily
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UL Solutions Inc.'s current P/E is 62.1x. The average P/E over the last 4 quarters is 46.5x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
UL Solutions Inc.'s current operating margin is 17.1%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking UL Solutions Inc.'s business trajectory between earnings reports.