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NYSE · SERVICES-TESTING LABORATORIES · LARGE CAP

UL Solutions Inc. ULS

4 fiscal years on record · USD · FY2025 reported · SEC filings only
$3.1B
▲ 6.4% YoY
$325.0M
▼ 0.3% YoY
$403.0M
▲ 40.4% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

UL Solutions Inc. provides Testing, Inspection and Certification (TIC) services and related software and advisory offerings to customers worldwide. In 2025, the company provided product safety, security, and sustainability solutions to more than 80,000 customers across over 110 countries. As of December 31, 2025, the company had a total of 14,587 full-time employees and 264 part-time employees. The company's Industrial and Consumer segments serve the outsourced product TIC market by providing comprehensive testing, inspection and certification services across a broad array of end markets, while its Software and Advisory segment, which also serves that market, provides software, data and advisory solutions. UL Solutions traces its history to its founding in 1894 as part of the nonprofit Underwriters Electrical Bureau, a predecessor to Underwriters Laboratories Inc., UL Standards & Engagement, and UL Solutions.

Written from the business description in UL Solutions Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 19 February 2026. Every sentence was checked against that document before publication.

Growth

USD 3.1B
Revenue, FY2025 · full 4-year series below
Revenue $B Net income $B
FY2025 · Revenue 3.1 · Net income 0.3
2B3B
20222025
Compound annual growth
+6.6%
+3.5%
+2.9%
−59.8%
−59.8%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

11 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 17.1% · Net 11.3%
5%10%15%
202220232025
ROE
FY2025 · ROE 30.0%
20%40%
202220232025
Three returns, three denominators.

Each USD of equity produced 30 cents of profit this year.

Cash & shareholders

USD 104.0M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 403.0
150M300M
202220232025
Net buybacks $B Dividends $B
FY2025 · Dividends 0.1 · Net buybacks ·
1B2B
2022202320242025

USD 104.0M in dividends — 32% of the year's profit went back to shareholders.

Total assetsUSD 2.9B
EquityUSD 1.3B
CashUSD 295.0M
Gross debtUSD 491.0M
Net debtUSD 196.0M
Current ratio1.32×

Net debt stands at 16% of equity.

The 4-year record

4 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
ULS, 4-year financial record
Metric 2025202420232022
Revenue $B3.12.92.72.5
Operating income $B0.50.50.40.4
EBITDA $B0.70.60.50.5
Income tax $B0.10.10.10.1
Net income $B0.30.30.30.3
Free cash flow $B0.40.30.30.2
EPS, diluted $1.601.621.301.47
Dividend / sh $0.520.503.408.00
Payout %3231262546
ROE %30.041.830.017.2
Shares out B0.200.200.200.20

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

Provenance

Company facts, as filed

How we verify · 0 failures in 15 reconciliationsAUDITED

Reconciled in 4 of the 4 fiscal years we could check. 32 checks were skipped: the balance sheet is not tagged before 2023. 15 checks were skipped: EPS is not tagged before 2022. 15 checks were skipped: revenue is not tagged before 2022.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityServices-Testing Laboratories
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2021

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