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%+1.3pp | 49.4%+0.9pp | 48.8%+0.4pp | 48.5%0.0pp | 48.6%+0.5pp | |
| Operating margin | 17.7%+1.2pp | 17.1%+1.0pp | 17.3%+1.9pp | 16.7%+2.5pp | 16.5%+2.4pp | |
| Net margin | 11.3%-0.3pp | 10.6%-0.7pp | 11.3%+0.5pp | 11.1%+1.4pp | 11.6%+2.0pp | |
| EBITDA margin | 23.9%+1.3pp | 23.3%+1.2pp | 23.4%+2.1pp | 22.8%+2.8pp | 22.6%+2.6pp | |
| Free cash flow margin | 14.5%+4.0pp | 13.2%+3.2pp | 13%+2.9pp | 12.3%+2.3pp | 10.5%+1.8pp | |
| Returns | ||||||
| Return on equity | 30.6%-10.5pp | 30%-11.8pp | 32.8%+3.5pp | 35.1%— | 41.1%— | |
| Return on assets | 12%— | 11.4%— | 11.7%— | —— | —— | |
| Return on invested capital | 25.7%— | 24%— | 25.4%— | —— | —— | |
| Efficiency | ||||||
| Asset turnover | 1.1×— | 1.1×— | 1×— | —— | —— | |
| Liquidity | ||||||
| Current ratio | 1.2×-0.1× | 1.3×+0.1× | 1.3×0.0× | 1.3×— | 1.2×— | |
| Quick ratio | 1.2×-0.1× | 1.3×+0.1× | 1.3×0.0× | 1.3×— | 1.2×— | |
| Cash ratio | 0.3×0.0× | 0.4×0.0× | 0.3×-0.1× | 0.4×— | 0.3×— | |
| Leverage | ||||||
| Debt-to-equity | 0.4×-0.5× | 0.5×-0.5× | 0.6×-0.5× | 0.7×— | 0.9×— | |
| Debt-to-assets | 0.2×-0.1× | 0.2×-0.1× | 0.3×-0.1× | 0.3×— | 0.3×— | |
| Net debt / EBITDA | 0.4×-0.5× | 0.5×-0.5× | 0.7×-0.4× | 0.8×— | 0.9×— | |
| Interest coverage | 14.9×+5.7× | 12.7×+4.3× | 11.5×+3.5× | 10.1×+1.7× | 9.2×+0.1× | |
| Per Share | ||||||
| Book value per share | $6.47+35.3% | $6.22+38.2% | $5.88+36.1% | $5.38+40.7% | $4.78+42.4% | |
| Valuation | ||||||
| Market capitalization | $17.23B+52.6% | $15.85B— | $14.23B— | $14.62B— | $11.29B— | |
| Enterprise value | $17.51B+47.6% | $16.24B— | $14.72B— | $15.15B— | $11.87B— | |
| Price / earnings | 49.2×+15.7× | 48.8×— | 42×— | 44.7×— | 33.5×— | |
| Price / sales | 5.5×+1.7× | 5.2×— | 4.7×— | 5×— | 3.9×— | |
| Price / book | 13.1×+1.4× | 12.6×— | 11.9×— | 13.4×— | 11.6×— | |
| EV / EBITDA | 23.6×+5.5× | 22.9×— | 20.9×— | 22.5×— | 18.1×— | |
| EV / sales | 5.6×+1.6× | 5.3×— | 4.9×— | 5.1×— | 4.1×— | |
| Free cash flow yield | 2.6%-0.1pp | 2.5%— | 2.7%— | 2.5%— | 2.7%— | |
| Earnings yield | 2%-1.0pp | 2.1%— | 2.4%— | 2.2%— | 3%— | |
| Dividend yield | 0.6%-0.3pp | 0.7%— | 0.7%— | 0.7%— | 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.
