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UL Solutions ULS Return on invested capital

Return on invested capital at other companies

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FortiveFTV
5.9%+0.5pp
IES
IES Holdings, Inc.IESC
32.6%-9.5pp
Applied Industrial Technologies logo
Applied Industrial TechnologiesAIT
19.8%0.0pp
RBC Bearings logo
RBC BearingsRBC
9.8%-0.1pp
Sterling Infrastructure, Inc. logo
Sterling Infrastructure, Inc.STRL
63.1%+11.6pp
Rockwell Automation logo
Rockwell AutomationROK
15.4%+0.6pp

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 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 return on invested capital?
UL Solutions (ULS) reported return on invested capital of 25.7% in Q1 2026.
How has UL Solutions's return on invested capital changed year-over-year?
UL Solutions's return on invested capital decreased by 4.6% year-over-year, from 27% to 25.7%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.