# UL Solutions Inc. (ULS) fundamentals

Data as of 2026-11-04. NYSE, United States. Sector: Industrials / Professional Services. Price $80.40, market value $16.2 billion.

## Valuation
- **P/E (trailing): 31.9×** (5-yr avg 39.8×, 3-yr avg 39.8×). UL Solutions Inc. trades at 31.9× trailing earnings, close to its own five-year average of 39.8×. The Industrials median in the September 2026 study was 25.7×. Forward P/E is 30.4×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 5.2×**. Each dollar of revenue is priced at 5.2×.
- **Price / book: 9.3×**. The shares trade at 9.3× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 21.8×**. Enterprise value is 21.8× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: 2.7%** (5-yr avg 2.7%). Free cash flow equals 2.7% of the market value, in line with its five-year average of 2.7%.
- **Earnings yield: 3.1%**. The inverse of the P/E: 3.1% of the price is earned each year.

## Profitability
- **Operating margin: 17.9%**. 17.9% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 10.6%**. 10.6% of each dollar of sales reaches the bottom line.
- **Return on equity: 25.8%**. 25.8% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 30.5%**. Return on all capital, debt included, is 30.5%: comfortably above what that capital costs.
- **Return on assets: 17.3%**. Each dollar of assets produces 17.3% of profit.

## Growth
- **Revenue growth (1 yr): 6.4%** (3-yr 6.6%/yr). Revenue grew 6.4% over the last year.
- **EPS growth (1 yr): -1.2%** (3-yr 2.9%/yr). Earnings per share fell 1.2%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 24.7%/yr**. Free cash flow has compounded at 24.7% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.39**. Debt is 0.39 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 0.3×**. It would take 0.3 years of operating earnings to repay net borrowings, within the comfortable range.
- **Current ratio: 1.32** (quick 1.32). Current assets cover the next year's liabilities 1.32 times.
- **Altman Z-score: 8.32**. A Z-score of 8.32 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 0.72%** ($0.55 per share, trailing). UL Solutions Inc. yields 0.72%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 32%** (25% of free cash flow). 32% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 2**. 2 straight years of increases.

## Analyst view
- **Analyst consensus: buy** (12 analysts). 12 analysts cover UL Solutions Inc.; the consensus is buy, with an average price target of $96.57 (+20% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -3.1%** (YTD -4.4%, 3-mo -17.5%). The shares are down 3.1% over twelve months including dividends.
- **From 52-week high: -25.2%** (27.3% above the low). Trading 25% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 62**. An RSI of 62 is neutral.
- **Beta (1 yr): 0.64** (volatility 43%). Beta of 0.64 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=ULS · Page: https://foliofundamentals.com/stocks/uls

Not investment advice.