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UL Solutions ULS Industrial — Employee compensation

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$3.87M-10.9%

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$20.53B+35.1%
Enterprise value$20.81B+32.2%
P/E58.7×+12.2×
P/S6.6×+1.5×

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

Reported directly by UL Solutions in its filing.

Tagged under the XBRL concept uls:EmployeeCompensation.

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 industrial — employee compensation?
UL Solutions (ULS) reported industrial — employee compensation of $176M in Q1 2026.
How has UL Solutions's industrial — employee compensation changed year-over-year?
UL Solutions's industrial — employee compensation increased by 6.7% year-over-year, from $165M to $176M.
What is the long-term trend for UL Solutions's industrial — employee compensation?
Over 3 years (2022 to 2025), UL Solutions's industrial — employee compensation has grown at a 7.7% compound annual growth rate (CAGR), from $503M to $629M.
What does industrial — employee compensation mean?
Includes all salaries, benefits, and incentive-based pay for personnel directly supporting the Industrial segment. As a labor-intensive service business, this represents the primary variable cost for delivering technical expertise and certification services.