MARKETS / NYSE / ULS

NYSE · SERVICES-TESTING LABORATORIES · LARGE CAP

UL Solutions Inc. ULS

4 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$3.1B

▲ 6.4% YoY

Net income

$325.0M

▼ 0.3% YoY

Free cash flow

$403.0M

▲ 40.4% YoY

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

Compound annual growth

+6.6%

+3.5%

+2.9%

−59.8%

Returned to shareholders

−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%

ROE

FY2025 · ROE 30.0%

Gross margin49.5%

Operating margin17.1%

Net margin11.3%

Return on assets12.1%

EBITDAUSD 710.0M

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

Net buybacks $B Dividends $B

FY2025 · Dividends 0.1 · Net buybacks —

Dividends paidUSD 104.0M

Net buybacks—

Share of profit32.0%

Consecutive raises1 years

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

Metric	2025	2024	2023	2022
Revenue $B	3.1	2.9	2.7	2.5
Operating income $B	0.5	0.5	0.4	0.4
EBITDA $B	0.7	0.6	0.5	0.5
Income tax $B	0.1	0.1	0.1	0.1
Net income $B	0.3	0.3	0.3	0.3
Free cash flow $B	0.4	0.3	0.3	0.2
EPS, diluted $	1.60	1.62	1.30	1.47
Dividend / sh $	0.52	0.50	3.40	8.00
Payout %	32	31	262	546
ROE %	30.0	41.8	39.8	·
Shares out B	0.20	0.20	0.20	0.20

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

Provenance

Company facts, as filed

How we verify · 0 failures in 15 reconciliationsAUDITED

Reconciled in 5 of 19 fiscal years. 76 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityServices-Testing Laboratories

Listed onNYSE

Incorporated inDelaware

Fiscal year endsDecember 31

Data on record since2021