ULS
$65.99-0.77%
as of close, Oct 2, 2026
☾ AH $65.99 -0.77%
ULS financial statements
The full income statement, balance sheet, and cash-flow statement for UL Solutions Inc. (ULS), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 200.0M2024-09 200.1M2024-12 200.2M2025-03 200.5M2025-06 200.9M2025-09 200.9M2025-12 201.0M2026-03 201.6M2026-06 201.9M+0.9% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | |
| Revenue | 3.05B+6.4% | 2.87B+7.2% | 2.68B+6.3% | 2.52B | |
| Cost of revenue | 1.54B+4.4% | 1.48B+6.0% | 1.39B+6.2% | 1.31B | |
| Selling, general & administrative | 953M+2.4% | 931M+6.4% | 875M+10.1% | 795M | |
| Restructuring | 35.0M+3600.0% | -1.00M-125.0% | 4.00M | — | |
| Amortization of intangibles | 13.0M+0.0% | 13.0M-13.3% | 15.0M-6.3% | 16.0M | |
| Provision for credit losses | 11.0M+22.2% | 9.00M+125.0% | 4.00M-33.3% | 6.00M | |
| Operating income | 522M+13.0% | 462M+25.5% | 368M-10.7% | 412M | |
| Interest expense | 41.0M-25.5% | 55.0M+57.1% | 35.0M+105.9% | 17.0M | |
| Other non-operating income | -1.00M+50.0% | -2.00M-200.0% | 2.00M-71.4% | 7.00M | |
| Gain (loss) on equity securities | 0.00 | 0.00-100.0% | 7.00M-68.2% | 22.0M | |
| Pre-tax income | 470M+13.3% | 415M+19.9% | 346M-9.7% | 383M | |
| Income tax | 125M+78.6% | 70.0M+0.0% | 70.0M-5.4% | 74.0M | |
| 325M-0.3% | 326M+25.4% | 260M-11.3% | 293M | ||
| Net income to non-controlling interest | 20.0M+5.3% | 19.0M+18.8% | 16.0M+0.0% | 16.0M | |
| $1.60-1.2% | $1.62+24.6% | $1.30-11.6% | $1.47 | ||
| EPS (basic) | $1.62-0.6% | $1.63+25.4% | $1.30-11.6% | $1.47 | |
| Weighted-avg shares (basic) | 201M+0.5% | 200M+0.0% | 200M+0.0% | 200M | |
| Weighted-avg shares (diluted) | 203M+1.0% | 201M+0.5% | 200M+0.0% | 200M | |
| Dividends per share | $0.52+4.0% | $0.50-85.3% | $3.40-57.5% | $8.00 | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | |
| 1.00B+8.6% | 921M-3.4% | 953M | — | ||
| Cash & equivalents | 295M-1.0% | 298M-5.4% | 315M-2.2% | 322M | |
| Accounts receivable | 422M+11.1% | 380M+5.0% | 362M | — | |
| Prepaid expenses | — | 33.0M-5.7% | 35.0M | — | |
| Other current assets | 79.0M+29.5% | 61.0M-37.1% | 97.0M | — | |
| 2.92B+4.3% | 2.80B+2.3% | 2.74B | — | ||
| Property, plant & equipment | 699M+10.8% | 631M+13.7% | 555M | — | |
| Operating lease right-of-use | 179M-3.8% | 186M+23.2% | 151M | — | |
| Goodwill | 656M+3.6% | 633M+1.6% | 623M-3.7% | 647M | |
| Intangible assets | 48.0M-17.2% | 58.0M-19.4% | 72.0M | — | |
| Deferred tax assets | 94.0M-13.0% | 108M-1.8% | 110M | — | |
| Other non-current assets | 140M+2.9% | 136M+2.3% | 133M | — | |
| 760M+2.7% | 740M+4.4% | 709M | — | ||
| Accounts payable | 183M+0.5% | 182M+7.7% | 169M | — | |
| Deferred revenue | 173M+6.8% | 162M+0.0% | 162M | — | |
| Short-term & current debt | 0.00-100.0% | 50.0M | 0.00 | — | |
| Current lease liability | 43.0M+13.2% | 38.0M-2.6% | 39.0M | — | |
| Other current liabilities | 79.0M+46.3% | 54.0M-6.9% | 58.0M | — | |
| 1.63B-12.9% | 1.87B-9.2% | 2.06B | — | ||
| Long-term debt | 491M-29.0% | 692M-23.5% | 904M | — | |
| Non-current lease liability | 149M-3.9% | 155M+29.2% | 120M | — | |
| Operating lease liability (total) | 192M-0.5% | 193M | — | — | |
| Other non-current liabilities | 93.0M+8.1% | 86.0M-7.5% | 93.0M | — | |
| 1.26B+39.6% | 904M+38.2% | 654M-39.3% | 1.08B | ||
| Common stock | — | — | 0.00 | — | |
| Additional paid-in capital | 887M+8.0% | 821M+5.8% | 776M | — | |
| Retained earnings | 470M+88.0% | 250M+941.7% | 24.0M | — | |
| Accumulated other comprehensive income | -95.0M+43.1% | -167M-14.4% | -146M | — | |
| Non-controlling interest | 32.0M+18.5% | 27.0M+12.5% | 24.0M | — | |
| Total equity incl. non-controlling | 1.29B+39.0% | 931M+37.3% | 678M-37.0% | 1.08B | |
| Total liabilities & equity | 2.92B+4.3% | 2.80B+2.3% | 2.74B | — | |
| Common shares issued | — | — | 200M | — | |
| Common shares outstanding | 201M+0.4% | 200M+0.1% | 200M+0.0% | 200M | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | |
| 600M+14.5% | 524M+12.2% | 467M+25.5% | 372M | ||
| Depreciation & amortization | 188M+9.3% | 172M+11.7% | 154M+14.1% | 135M | |
| Intangible amortization | 13.0M+0.0% | 13.0M-13.3% | 15.0M-6.3% | 16.0M | |
| Share-based compensation | 47.0M+104.3% | 23.0M | 0.00 | 0.00 | |
| Deferred income taxes | 2.00M+133.3% | -6.00M-154.5% | 11.0M+10.0% | 10.0M | |
| Change in receivables | 32.0M+3.2% | 31.0M+616.7% | -6.00M-140.0% | 15.0M | |
| Change in payables | -13.0M-200.0% | 13.0M+1200.0% | 1.00M+105.6% | -18.0M | |
| -204M+12.8% | -234M-33.7% | -175M+26.5% | -238M | ||
| Capital expenditure | 197M-16.9% | 237M+10.2% | 215M+31.1% | 164M | |
| Free cash flow | 403M+40.4% | 287M+13.9% | 252M+21.2% | 208M | |
| Acquisitions | 1.00M-96.2% | 26.0M+44.4% | 18.0M-72.7% | 66.0M | |
| Purchases of investments | 58.0M | 0.00-100.0% | 95.0M-41.4% | 162M | |
| Sales/maturities of investments | 51.0M | 0.00-100.0% | 144M-7.1% | 155M | |
| Other investing activities | -1.00M | 0.00+100.0% | -5.00M-600.0% | 1.00M | |
| -396M-39.4% | -284M+3.4% | -294M+73.7% | -1.12B | ||
| Long-term debt issued | 792M+337.6% | 181M-58.9% | 440M-37.1% | 700M | |
| Long-term debt repaid | 1.04B+202.0% | 346M+1053.3% | 30.0M-85.0% | 200M | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 104M+4.0% | 100M-85.3% | 680M-57.5% | 1.60B | |
| Other financing activities | -7.00M-75.0% | -4.00M+60.0% | -10.0M-233.3% | -3.00M | |
| FX effect on cash | -3.00M+87.0% | -23.0M-360.0% | -5.00M+79.2% | -24.0M | |
| Net change in cash | -3.00M+82.4% | -17.0M-142.9% | -7.00M+99.3% | -1.01B | |
| Interest paid | 40.0M-29.8% | 57.0M+78.1% | 32.0M+88.2% | 17.0M | |
| Income taxes paid | 92.0M+39.4% | 66.0M+15.8% | 57.0M-16.2% | 68.0M | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | |
| Market cap | 15.9B+58.8% | 9.98B | — | — | |
| P/E | 48.8×+59.3% | 30.6× | — | — | |
| P/S | 5.2×+49.3% | 3.5× | — | — | |
| P/B | 12.6×+13.7% | 11.0× | — | — | |
| P/FCF | 39.3×+13.1% | 34.8× | — | — | |
| Earnings yield | 2.0%-37.2% | 3.3% | — | — | |
| FCF yield | 2.5%-11.6% | 2.9% | — | — | |
| Dividend yield | 0.66%-34.2% | 1.0% | — | — | |
| Source filing | 10-K | 10-K | 10-K | 10-K |
About this data
Source: ULS’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all ULS filings on SEC EDGAR → Not investment advice.