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UL Solutions ULS Operating margin

Operating margin at other companies

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FortiveFTV
18.2%0.0pp
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TIC SolutionsTIC
-2.2%-0.9pp
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Applied Industrial TechnologiesAIT
10.9%-0.3pp
Tetra Tech logo
Tetra TechTTEK
12.1%+5.9pp
TE Connectivity logo
TE ConnectivityTEL
19.7%+2.0pp
Advanced Energy Industries logo
Advanced Energy IndustriesAEIS
10.8%+6.5pp

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$15.96B+21.4%
Enterprise value$16.24B+18.7%
P/E45.6×+5.4×
P/S5.1×+0.7×

Profitability

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Gross margin49.9%+1.3pp
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 trailing twelve months.

The source filing: UL Solutions’s 10-Q, filed May 5, 2026. Open the filing →

Filed
May 5, 2026, 4:17 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001901440-26-000012

FAQ

What is UL Solutions's operating margin?
UL Solutions (ULS) reported operating margin of 17.7% in Q1 2026.
How has UL Solutions's operating margin changed year-over-year?
UL Solutions's operating margin increased by 7.4% year-over-year, from 16.5% to 17.7%.
What is the long-term trend for UL Solutions's operating margin?
Over 3 years (2022 to 2025), UL Solutions's operating margin has grown at a 1.5% compound annual growth rate (CAGR), from 16.3% to 17.1%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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