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UL Solutions ULS Net debt / EBITDA

Net debt / EBITDA at other companies

Fortive logo
FortiveFTV
3.9×-0.1×
IES
IES Holdings, Inc.IESC
0.1×+0.1×
TE Connectivity logo
TE ConnectivityTEL
+0.8×
Applied Industrial Technologies logo
Applied Industrial TechnologiesAIT
0.3×-0.1×
RBC Bearings logo
RBC BearingsRBC
0.4×+0.3×
Sterling Infrastructure, Inc. logo
Sterling Infrastructure, Inc.STRL
-0.3×-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.

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 net debt / EBITDA?
UL Solutions (ULS) reported net debt / EBITDA of 0.4× in Q1 2026.
How has UL Solutions's net debt / EBITDA changed year-over-year?
UL Solutions's net debt / EBITDA decreased by 56.8% year-over-year, from 0.9× to 0.4×.
What is the long-term trend for UL Solutions's net debt / EBITDA?
Over 2 years (2023 to 2025), UL Solutions's net debt / EBITDA has grown at a -38.3% compound annual growth rate (CAGR), from 1.4× to 0.5×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.