UL Solutions Inc. (ULS)

UL Solutions Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	2,951	2,870	2,678	2,520	2,517	2,301
Revenue Growth (YoY)	6.92%	7.17%	6.27%	0.12%	9.39%	-0.60%
Cost of Revenue	1,519	1,477	1,398	1,313	1,338	1,270
Gross Profit	1,432	1,393	1,280	1,207	1,179	1,031
Selling, General & Admin	944	938	883	826	922	700
Operating Expenses	944	938	883	826	922	700
Operating Income	488	455	397	381	257	331
Interest Expense	-49	-55	-35	-17	-1	-1
Interest & Investment Income	4	4	12	1	7	-
Earnings From Equity Investments	-	-	-	-	11	3
Currency Exchange Gain (Loss)	-10	-11	-2	-11	-2	-16
Other Non Operating Income (Expenses)	-5	-2	2	7	2	2
EBT Excluding Unusual Items	428	391	374	361	274	319
Impairment of Goodwill	-	-	-37	-	-	-
Gain (Loss) on Sale of Investments	-	-	7	22	-	14
Gain (Loss) on Sale of Assets	-1	24	2	-	-	-
Pretax Income	427	415	346	383	274	333
Income Tax Expense	80	70	70	74	36	90
Earnings From Continuing Operations	347	345	276	309	238	243
Minority Interest in Earnings	-20	-19	-16	-16	-14	-12
Net Income	327	326	260	293	224	231
Net Income to Common	327	326	260	293	224	231
Net Income Growth	22.02%	25.39%	-11.26%	30.80%	-3.03%	-6.10%
Shares Outstanding (Basic)	201	200	200	200	37	-
Shares Outstanding (Diluted)	202	201	200	200	37	-
Shares Change (YoY)	0.75%	0.50%	-	443.28%	-	-
EPS (Basic)	1.63	1.63	1.30	1.47	6.08	-
EPS (Diluted)	1.62	1.62	1.30	1.47	6.08	-
EPS Growth	21.42%	24.62%	-11.26%	-75.91%	-	-
Free Cash Flow	364	287	252	208	314	368
Free Cash Flow Per Share	1.80	1.43	1.26	1.04	8.53	-
Dividend Per Share	0.510	0.500	0.400	-	-	-
Dividend Growth	104.00%	25.00%	-	-	-	-
Gross Margin	48.53%	48.54%	47.80%	47.90%	46.84%	44.81%
Operating Margin	16.54%	15.85%	14.82%	15.12%	10.21%	14.38%
Profit Margin	11.08%	11.36%	9.71%	11.63%	8.90%	10.04%
Free Cash Flow Margin	12.34%	10.00%	9.41%	8.25%	12.47%	15.99%
EBITDA	610	568	500	473	354	427
EBITDA Margin	20.67%	19.79%	18.67%	18.77%	14.06%	18.56%
D&A For EBITDA	122	113	103	92	97	96
EBIT	488	455	397	381	257	331
EBIT Margin	16.54%	15.85%	14.82%	15.12%	10.21%	14.38%
Effective Tax Rate	18.73%	16.87%	20.23%	19.32%	13.14%	27.03%

Updated Aug 5, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q