UL Solutions (ULS) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

UL Solutions

NYSE•Industrials•Specialty Business Services

$73.83-0.80(-0.01%)Market closed

Market Cap

$13.01B

P/E

25.8x

P/S

4.1x

P/B

8.2x

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.

How this company scores

ExcellentMetricSide Score: 91/100

Strongest: Profitability (25/25); weakest: Growth (20/25).

Profitability25/25

Growth20/25

Balance Sheet & Red Flags21/25

Cash & Earnings Quality25/25

Strengths

Rising free cash flowStrong marginsHigh ROERising earnings

No red flags in the last 8 quarters.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 25.8x5y range 25.8x – 49.9x

Currently below its 7-quarter median.

P/S · 4.1x5y range 3.5x – 5.3x

Currently near its 7-quarter median.

P/B · 8.2x5y range 8.2x – 13.4x

Price & Volume

Market Cap $13.01B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $3.15B
Q. Revenue: $816.00M
TTM EBITDA: $752.00M
TTM Op. Income: $562.00M
Q. Op. Income: $150.00M
TTM Net Income: $505.00M
Q. Net Income: $246.00M
EPS: N/A
Shares Out.: $202.00M

$3.15B in TTM revenue grew 6.6% YoY, reaching $816.00M last quarter. TTM EBITDA of $752.00M and TTM operating income of $562.00M show growth is flowing through to the bottom line. TTM net income of $505.00M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 51.1%
EBITDA Margin: 24.0%
Op. Margin: 18.4%
Net Margin: 30.1%

Op. margin of 18.4% is up 0.5% YoY — cost efficiency is improving. Net margin at 30.1% and gross margin of 51.1% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 25.8x
P/S Ratio: 4.1x
P/B Ratio: 8.2x

At 25.8x P/E, the stock trades within typical market levels. P/S of 4.1x and P/B of 8.2x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 7 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $3.12B
Cash: $434.00M
Long-Term Debt: $301.00M
Book Value: $1.59B
D/E Ratio: 0.2
Debt/EBITDA: 1.5

With $3.12B in assets and $301.00M in long-term debt, D/E is 0.2and book value is $1.59B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 7 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $160.00M
TTM Free Cash Flow: $436.00M
FCF Margin: 13.9%
FCF / Net Income: 0.9

TTM FCF of $436.00M on $160.00M in operating cash flow. The FCF / Net Income ratio of 0.9x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 20% — a weakening trend.