UL Solutions Inc (ULS)
Fair ValueFundamental
67
Price
$65.62
Market Cap
$13.06B
Part 1 · What the company is worth
Overview
UL Solutions Inc., together with its subsidiaries, provides testing, inspection and certification services and related software and advisory services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building and asset owners, end users, and regulators. The Consumer segment offers safety certification testing, ongoing certification, global market access, testing for connectivity, performance and quality, and critical systems advisory and training services, as well as product market acceptance and risk mitigation services for customers in the consumer products end markets comprising consumer electronics, medical devices, information technologies, appliances, HVAC, lighting, and retail, as well as consumer applications, such as new mobility, smart products, and 5G. The Software and Advisory segment provide software and technical advisory services that enable customers to manage regulatory requirements, deliver supply chain transparency, and operationalize sustainability. It offers ULTRUS, a software that helps customers meet regulatory, supply chain, and sustainability challenges. UL Solutions Inc. was formerly known as UL Inc. and changed its name to UL Solutions Inc. in December 2021. The company was founded in 1894 and is headquartered in Northbrook, Illinois. UL Solutions Inc. operates as a subsidiary of ULSE Inc.
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Direct competitors
Who this company fights with for the same customers
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Balance Sheet & Liquidity
Revenue
$3.15B
Trailing 12 months (through 6/30/2026)
Net Income
$505M
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$403M
Total Equity
$1.26B
Total Liabilities
$1.63B
Current Ratio
1.42
Interest Coverage
17.56
Debt/EBITDA
0.67
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$67.94
Current Price
$65.62
Margin of Safety
+3.4%
Fair Value Range
$45.87 - $90.02
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
26.46
ROE
25.8%
P/B Ratio
8.27
P/FCF
30.26
Gross Margin
50.4%
ROIC
19.7%
Profitability Radar
Value Creation (Economic Moat)
ROIC
19.7%
WACC
8.0%
ROIC − WACC
+11.8 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
Fundamental Analysis Criteria
Passed (18)
- EPS shows upward trend
- Price CAGR 19.53%
- ROIC 19.7%
- Gross Margin 50.4%
- Debt/Equity ratio
- Operating Margin 17.9%
- Positive Free Cash Flow
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- ROE 37.6%
- Analyst Consensus 65% Buy
- Earnings Surprise avg 14.9%
- Earnings Quality (OCF/NI) 1.34
- Share Dilution 0.9%
- Net Margin Trend 16.1% vs 11.1%
- Piotroski F-Score 8/9
Failed (7)
- EPS CAGR 2.86%
- P/FCF 30.26
- P/B Ratio 8.27
- CapEx intensity
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
Unavailable (3)
- Dividend Payout NaN%
- Revenue Growth 5Y (Finnhub)
- PEG Ratio (need PE > 0 and growth > 0)
Piotroski F-Score
Strong financial health
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Share count is stable
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Ms. Jennifer F. Scanlon | President, CEO & Director | 58 |
| Mr. Ryan D. Robinson | Executive VP & CFO | 59 |
| Ms. Gitte Schjotz | Executive VP and Chief Business Operations & Innovation Officer | 54 |
| Mr. Weifang Zhou | Executive VP & Special Advisor to the CEO | 60 |
| Mr. John A. Genovesi | Executive VP and President of Risk & Compliance Software | 61 |
| Mr. Alex G. Dadakis | Executive VP and President of Testing, Inspection & Certification (TIC) | 38 |
| Ms. Karen K. Pepping | Senior VP & Chief Accounting Officer | 61 |
| Mr. Mitchell Ji | Senior Vice President of Corporate Finance & Tax | - |
| Mr. Robert V. Slone Ph.D. | Senior VP & Chief Scientist & Innovation Officer | 53 |
| Ms. Patricia A. Crawford | Senior VP & Chief Information Officer | - |
Audit Risk
2
Board Risk
2
Compensation Risk
4
Shareholder Rights Risk
10
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-19
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-08-04
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-08-04
via SEC EDGAR
Income History
via SEC EDGAR
Latest News
Recent headlines for ULS, sourced from Markets Gazette.