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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.
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| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 461.70M | 415.00M | 346.00M | 383.00M | 274.00M |
| Minority interest | -20.00M | -19.00M | -16.00M | -16.00M | -14.00M |
| Net income | 325.00M | 326.00M | 260.00M | 293.00M | 224.00M |
| Selling general administrative | 940.00M | 931.00M | 8.00M | 13.00M | 19.00M |
| Selling and marketing expenses | - | - | 875.00M | 795.00M | 892.00M |
| Gross profit | 1497.82M | 1380.00M | 1265.00M | 1207.00M | 1179.00M |
| Reconciled depreciation | 188.00M | 172.00M | 154.00M | 135.00M | 142.00M |
| Ebit | 502.70M | 470.00M | 381.00M | 400.00M | 275.00M |
| Ebitda | 738.35M | 642.00M | 535.00M | 535.00M | 417.00M |
| Depreciation and amortization | 235.65M | 172.00M | 154.00M | 135.00M | 142.00M |
| Operating income | 522.35M | 462.00M | 405.00M | 412.00M | 287.00M |
| Other operating expenses | 2530.65M | 2408.00M | 2273.00M | 2108.00M | 2230.00M |
| Interest expense | 41.00M | 55.00M | 35.00M | 17.00M | 1.00M |
| Tax provision | 125.00M | 70.00M | 70.00M | 74.00M | 36.00M |
| Interest income | 47.00M | 4.00M | 12.00M | 1.00M | 7.00M |
| Net interest income | -37.00M | -51.00M | -23.00M | -16.00M | 6.00M |
| Income tax expense | 116.70M | 70.00M | 70.00M | 74.00M | 36.00M |
| Total revenue | 3053.00M | 2870.00M | 2678.00M | 2520.00M | 2517.00M |
| Total operating expenses | 975.47M | 918.00M | 860.00M | 795.00M | 892.00M |
| Cost of revenue | 1555.18M | 1490.00M | 1413.00M | 1313.00M | 1338.00M |
| Total other income expense net | -60.65M | -47.00M | -59.00M | -29.00M | -13.00M |
| Net income from continuing ops | 345.00M | 345.00M | 276.00M | 309.00M | 238.00M |
| Net income applicable to common shares | 325.00M | 326.00M | 260.00M | 293.00M | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 2921.00M | 2800.00M | 2736.00M | 2720.00M | 3662.00M |
| Intangible assets | 153.00M | 185.00M | 211.00M | 200.00M | 196.00M |
| Other current assets | 79.00M | 37.00M | 48.00M | 38.00M | 67.00M |
| Total liab | 1627.00M | 1869.00M | 2058.00M | 1643.00M | 1330.00M |
| Total stockholder equity | 1262.00M | 904.00M | 654.00M | 1054.00M | 2311.00M |
| Other current liab | 361.00M | 308.00M | 339.00M | 357.00M | 413.00M |
| Common stock | 0.06M | 0.20M | 0.00M | 0.00M | - |
| Capital stock | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Retained earnings | 470.00M | 250.00M | 24.00M | 211.00M | 1518.00M |
| Good will | 656.00M | 633.00M | 623.00M | 647.00M | 621.00M |
| Other assets | 234.00M | 244.00M | 179.00M | 176.00M | - |
| Cash | 295.00M | 298.00M | 315.00M | 322.00M | 1328.00M |
| Cash and equivalents | 295.00M | 298.00M | 315.00M | 322.00M | - |
| Total current liabilities | 760.00M | 740.00M | 709.00M | 694.00M | 792.00M |
| Current deferred revenue | 173.00M | 162.00M | 162.00M | 142.00M | 135.00M |
| Net debt | 537.00M | 637.00M | 748.00M | 338.00M | -1174.00M |
| Short term debt | 43.00M | 88.00M | 39.00M | 42.00M | 36.00M |
| Short long term debt | - | 50.00M | - | - | - |
| Short long term debt total | 832.00M | 935.00M | 1063.00M | 660.00M | 154.00M |
| Other stockholder equity | 887.00M | 821.00M | 776.00M | 1009.00M | 1009.00M |
| Property plant equipment | 878.00M | 817.00M | 706.00M | 637.00M | - |
| Total current assets | 1000.00M | 921.00M | 953.00M | 998.00M | 1999.00M |
| Long term investments | - | - | 64.00M | 62.00M | 44.00M |
| Short term investments | - | - | 0.00M | 51.00M | 47.00M |
| Net receivables | 626.00M | 586.00M | 590.00M | 587.00M | 557.00M |
| Long term debt | 491.00M | 692.00M | 904.00M | 499.00M | - |
| Accounts payable | 183.00M | 182.00M | 169.00M | 153.00M | 179.00M |
| Accumulated other comprehensive income | -95.00M | -167.00M | -146.00M | -166.00M | -216.00M |
| Non currrent assets other | 84.00M | 78.00M | 69.00M | 48.00M | 34.00M |
| Non current assets total | 1921.00M | 1879.00M | 1783.00M | 1722.00M | 1663.00M |
| Capital lease obligations | 192.00M | 193.00M | 159.00M | 161.00M | 154.00M |
| Long term debt total | 491.00M | 692.00M | 904.00M | 499.00M | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | -7.00M | -234.00M | -175.00M | -238.00M | 178.00M |
| Total cashflows from investing activities | -204.00M | -234.00M | -175.00M | -238.00M | 178.00M |
| Net borrowings | -253.00M | -165.00M | 410.00M | 500.00M | 0.00M |
| Total cash from financing activities | -396.00M | -284.00M | -294.00M | -1116.00M | -228.00M |
| Net income | 345.00M | 345.00M | 260.00M | 293.00M | 224.00M |
| Change in cash | -3.00M | -17.00M | -7.00M | -1006.00M | 357.00M |
| Begin period cash flow | 298.00M | 315.00M | 322.00M | 1328.00M | 971.00M |
| End period cash flow | 295.00M | 298.00M | 315.00M | 322.00M | 1328.00M |
| Total cash from operating activities | 600.00M | 524.00M | 467.00M | 372.00M | 421.00M |
| Depreciation | 188.00M | 172.00M | 154.00M | 135.00M | 142.00M |
| Other cashflows from investing activities | 1.00M | 29.00M | 9.00M | -1.00M | 9.00M |
| Dividends paid | 104.00M | 100.00M | 680.00M | 1600.00M | 200.00M |
| Change to account receivables | -32.00M | -28.00M | 6.00M | -15.00M | -1.00M |
| Other cashflows from financing activities | -39.00M | -19.00M | -24.00M | -16.00M | -28.00M |
| Capital expenditures | 197.00M | 237.00M | 215.00M | 164.00M | 107.00M |
| Change in working capital | -11.00M | -17.00M | -18.00M | -108.00M | 101.00M |
| Stock based compensation | 47.00M | 23.00M | 31.00M | -1.00M | 135.00M |
| Other non cash items | 29.00M | 7.00M | 60.00M | 43.00M | -111.00M |
| Free cash flow | 403.00M | 287.00M | 252.00M | 208.00M | 314.00M |
Sector: Industrials Industry: Specialty Business Services
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| ULS UL Solutions Inc. |
2.50 3.28% |
78.65 | 28.03 | 26.45 | 4.16 | 8.80 | 4.47 | 14.96 |
| CTAS Cintas Corporation |
-4.05 1.79% |
222.36 | 37.19 | 33.11 | 6.39 | 14.93 | 6.73 | 24.37 |
| RELX Relx PLC ADR |
-1.28 3.09% |
40.17 | 20.25 | 16.16 | 6.12 | 37.10 | 5.55 | 14.13 |
| RLXXF Relx PLC |
-1.55 3.70% |
40.29 | 20.12 | 15.38 | 6.08 | 35.32 | 5.43 | 13.82 |
| TRI Thomson Reuters Corporation Common Shares |
-5.54 4.69% |
112.57 | 27.00 | 20.92 | 5.68 | 4.12 | 6.20 | 14.50 |
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.
| Name | Title | Year Born |
|---|---|---|
| Ms. Jennifer F. Scanlon | President, CEO & Director | 1967 |
| Mr. Ryan D. Robinson | Executive VP & CFO | 1966 |
| Ms. Gitte Schjotz | Executive VP and Chief Business Operations & Innovation Officer | 1971 |
| Mr. Weifang Zhou | Executive VP & Special Advisor to the CEO | 1965 |
| Mr. John A. Genovesi | Executive VP and President of Risk & Compliance Software | 1964 |
| Mr. Alex G. Dadakis | Executive VP and President of Testing, Inspection & Certification (TIC) | 1987 |
| Ms. Karen K. Pepping | Senior VP & Chief Accounting Officer | 1964 |
| Mr. Mitchell Ji | Senior Vice President of Corporate Finance & Tax | NA |
| Mr. Robert V. Slone Ph.D. | Senior VP & Chief Scientist & Innovation Officer | 1972 |
| Ms. Patricia A. Crawford | Senior VP & Chief Information Officer | NA |
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