What is UL Solutions's debt-to-assets?

UL Solutions (ULS) reported debt-to-assets of 0.2× in Q1 2026.

How has UL Solutions's debt-to-assets changed year-over-year?

UL Solutions's debt-to-assets decreased by 37.7% year-over-year, from 0.3× to 0.2×.

What is the long-term trend for UL Solutions's debt-to-assets?

Over 2 years (2023 to 2025), UL Solutions's debt-to-assets has grown at a -22.4% compound annual growth rate (CAGR), from 0.4× to 0.2×.

What does debt-to-assets mean?

Total debt divided by total assets at the quarter end. Measures the share of the asset base financed by debt.

UL Solutions ULS Debt-to-assets

Debt-to-assets at other companies

FortiveFTV

0.3×+0.1×

IES

IES Holdings, Inc.IESC

0.1×0.0×

TE ConnectivityTEL

0.2×+0.1×

Applied Industrial TechnologiesAIT

0.1×-0.1×

Sterling Infrastructure, Inc.STRL

0.1×-0.1×

Tetra TechTTEK

0.3×0.0×

Other financials

Income statement

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Revenue$758.0M+7.5%

Gross profit$381.0M+12.1%

Operating income$138.0M+26.6%

Net income$92.0M+37.3%

EPS (diluted)$0.45+36.4%

Balance sheet

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Cash & equivalents$258.0M-3.4%

Total debt$539.0M-36.1%

Total equity$1.3B+36.0%

Total assets$3.0B+2.7%

Cash flow

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Operating cash flow$219.0M+42.2%

CapEx$69.0M+35.3%

Free cash flow$150.0M+45.6%

Valuation

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Market cap$18.41B+52.6%

Enterprise value$18.69B+47.6%

P/E52.6×+16.8×

P/S5.9×+1.8×

Profitability

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Gross margin49.9%+1.3pp

Operating margin17.7%+1.2pp

Net margin11.3%-0.3pp

FCF margin14.5%+4.0pp

Returns & leverage

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Return on equity30.6%-10.5pp

Debt / equity0.4×-0.5×

Current ratio1.2×-0.1×

Where this comes from

Calculated from UL Solutions’s reported figures.

total debt/total assets=0.2×

Based on the most recent quarter.

The official record: UL Solutions’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is UL Solutions's debt-to-assets?: UL Solutions (ULS) reported debt-to-assets of 0.2× in Q1 2026.
How has UL Solutions's debt-to-assets changed year-over-year?: UL Solutions's debt-to-assets decreased by 37.7% year-over-year, from 0.3× to 0.2×.
What is the long-term trend for UL Solutions's debt-to-assets?: Over 2 years (2023 to 2025), UL Solutions's debt-to-assets has grown at a -22.4% compound annual growth rate (CAGR), from 0.4× to 0.2×.
What does debt-to-assets mean?: Total debt divided by total assets at the quarter end. Measures the share of the asset base financed by debt.