UL Solutions ULS Ratios & Valuation
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 49.9%+0.5pp | 49.4%+0.6pp | 48.8%+0.4pp | 48.5%-0.2pp | 48.6%+0.1pp | |
| Operating margin | 17.7%+0.6pp | 17.1%-0.2pp | 17.3%+0.6pp | 16.7%+0.2pp | 16.5%+0.4pp | |
| Net margin | 11.3%+0.6pp | 10.6%-0.6pp | 11.3%+0.2pp | 11.1%-0.5pp | 11.6%+0.2pp | |
| EBITDA margin | 23.9%+0.6pp | 23.3%-0.2pp | 23.4%+0.6pp | 22.8%+0.3pp | 22.6%+0.5pp | |
| Free cash flow margin | 14.5%+1.3pp | 13.2%+0.2pp | 13%+0.6pp | 12.3%+1.8pp | 10.5%+0.5pp | |
| Returns | ||||||
| Return on equity | 30.6%+0.6pp | 30%-2.8pp | 32.8%-2.3pp | 35.1%-5.9pp | 41.1%-0.8pp | |
| Return on assets | 12%+0.6pp | 11.4%-0.4pp | 11.7%— | —— | —— | |
| Return on invested capital | 25.7%+1.7pp | 24%-1.4pp | 25.4%— | —— | —— | |
| Efficiency | ||||||
| Asset turnover | 1.1×0.0× | 1.1×0.0× | 1×— | —— | —— | |
| Liquidity | ||||||
| Current ratio | 1.2×-0.2× | 1.3×0.0× | 1.3×0.0× | 1.3×+0.1× | 1.2×0.0× | |
| Quick ratio | 1.2×-0.2× | 1.3×0.0× | 1.3×0.0× | 1.3×+0.1× | 1.2×0.0× | |
| Cash ratio | 0.3×-0.1× | 0.4×0.0× | 0.3×0.0× | 0.4×0.0× | 0.3×-0.1× | |
| Leverage | ||||||
| Debt-to-equity | 0.4×-0.1× | 0.5×-0.1× | 0.6×-0.1× | 0.7×-0.1× | 0.9×-0.2× | |
| Debt-to-assets | 0.2×-0.1× | 0.2×0.0× | 0.3×0.0× | 0.3×0.0× | 0.3×0.0× | |
| Net debt / EBITDA | 0.4×-0.2× | 0.5×-0.1× | 0.7×-0.1× | 0.8×-0.1× | 0.9×-0.1× | |
| Interest coverage | 14.9×+2.2× | 12.7×+1.2× | 11.5×+1.5× | 10.1×+0.8× | 9.2×+0.8× | |
| Per Share | ||||||
| Book value per share | $6.47+4.0% | $6.22+5.8% | $5.88+9.1% | $5.38+12.7% | $4.78+6.2% | |
| Valuation | ||||||
| Market capitalization | $17.23B+8.7% | $15.85B+11.4% | $14.23B-2.6% | $14.62B+29.5% | $11.29B— | |
| Enterprise value | $17.51B+7.8% | $16.24B+10.4% | $14.72B-2.9% | $15.15B+27.7% | $11.87B— | |
| Price / earnings | 49.2×+0.5× | 48.8×+6.8× | 42×-2.7× | 44.7×+11.2× | 33.5×— | |
| Price / sales | 5.5×+0.4× | 5.2×+0.5× | 4.7×-0.2× | 5×+1.1× | 3.9×— | |
| Price / book | 13.1×+0.5× | 12.6×+0.6× | 11.9×-1.4× | 13.4×+1.7× | 11.6×— | |
| EV / EBITDA | 23.6×+0.8× | 22.9×+1.9× | 20.9×-1.5× | 22.5×+4.4× | 18.1×— | |
| EV / sales | 5.6×+0.3× | 5.3×+0.4× | 4.9×-0.2× | 5.1×+1.0× | 4.1×— | |
| Free cash flow yield | 2.6%+0.1pp | 2.5%-0.2pp | 2.7%+0.2pp | 2.5%-0.2pp | 2.7%— | |
| Earnings yield | 2%0.0pp | 2.1%-0.3pp | 2.4%+0.1pp | 2.2%-0.7pp | 3%— | |
| Dividend yield | 0.6%0.0pp | 0.7%-0.1pp | 0.7%0.0pp | 0.7%-0.2pp | 0.9%— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- What are UL Solutions's profit margins?
- UL Solutions (ULS) runs a 49.9% gross margin and a 17.7% operating margin, with a 11.3% net margin.
- Where do UL Solutions's ratios come from?
- Every ratio is computed from UL Solutions's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
