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UL Solutions ULS Free cash flow margin

Free cash flow margin at other companies

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22.8%-12.2pp
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3.6%-2.7pp
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6.6%+1.0pp
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18.1%+0.8pp
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9.1%-0.7pp
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RBC BearingsRBC
18.3%+3.4pp

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

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.

Based on trailing twelve months.

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 free cash flow margin?
UL Solutions (ULS) reported free cash flow margin of 14.5% in Q1 2026.
How has UL Solutions's free cash flow margin changed year-over-year?
UL Solutions's free cash flow margin increased by 37.5% year-over-year, from 10.5% to 14.5%.
What is the long-term trend for UL Solutions's free cash flow margin?
Over 3 years (2022 to 2025), UL Solutions's free cash flow margin has grown at a 16.9% compound annual growth rate (CAGR), from 8.3% to 13.2%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.