What is UL Solutions's EV / sales?

UL Solutions (ULS) reported EV / sales of 5.6× in Q1 2026.

How has UL Solutions's EV / sales changed year-over-year?

UL Solutions's EV / sales increased by 38.0% year-over-year, from 4.1× to 5.6×.

What does EV / sales mean?

Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.

UL Solutions ULS EV / sales

EV / sales at other companies

FortiveFTV

4.8×-2.1×

IES

IES Holdings, Inc.IESC

2.6×+1.6×

TE ConnectivityTEL

3.5×+0.8×

Applied Industrial TechnologiesAIT

2.1×+0.1×

Sterling Infrastructure, Inc.STRL

4.3×+2.8×

Tetra TechTTEK

1.7×+0.1×

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.

enterprise value/total revenue=5.6×

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 EV / sales?: UL Solutions (ULS) reported EV / sales of 5.6× in Q1 2026.
How has UL Solutions's EV / sales changed year-over-year?: UL Solutions's EV / sales increased by 38.0% year-over-year, from 4.1× to 5.6×.
What does EV / sales mean?: Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.