UL Solutions Inc. (ULS)

UL Solutions Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	3,053	2,870	2,678	2,520	2,517
Revenue Growth (YoY)	6.38%	7.17%	6.27%	0.12%	9.39%
Cost of Revenue	1,543	1,478	1,394	1,313	1,338
Gross Profit	1,510	1,392	1,284	1,207	1,179
Selling, General & Admin	953	931	875	795	892
Other Operating Expenses	35	-1	41	-	-
Total Operating Expenses	988	930	916	795	892
Operating Income	522	462	368	412	287
Interest Expense	-41	-55	-35	-17	-1
Other Non-Operating Income (Expense)	-11	8	13	-12	-12
Total Non-Operating Income (Expense)	-52	-47	-22	-29	-13
Pretax Income	470	415	346	383	274
Provision for Income Taxes	125	70	70	74	36
Net Income	325	326	260	293	224
Minority Interest in Earnings	20	19	16	16	14
Net Income to Common	325	326	260	293	224
Net Income Growth	-0.31%	25.39%	-11.26%	30.80%	-3.03%
Shares Outstanding (Basic)	201	200	200	200	37
Shares Outstanding (Diluted)	203	201	200	200	37
Shares Change (YoY)	1.00%	0.50%	-	443.28%	9203237.50%
EPS (Basic)	1.62	1.63	1.30	1.47	6.08
EPS (Diluted)	1.60	1.62	1.30	1.47	6.08
EPS Growth	-1.23%	24.62%	-11.56%	-75.82%	-100.00%
Free Cash Flow	403	287	252	208	314
Free Cash Flow Growth	40.42%	13.89%	21.15%	-33.76%	-35.52%
Free Cash Flow Per Share	1.99	1.43	1.26	1.04	8.53
Dividends Per Share	0.520	0.500	0.400	-	-
Dividend Growth	4.00%	25.00%	-	-	-
Gross Margin	49.46%	48.50%	47.95%	47.90%	46.84%
Operating Margin	17.10%	16.10%	13.74%	16.35%	11.40%
Profit Margin	11.30%	12.02%	10.31%	12.26%	9.46%
FCF Margin	13.20%	10.00%	9.41%	8.25%	12.48%
EBITDA	710	634	522	547	429
EBITDA Margin	23.26%	22.09%	19.49%	21.71%	17.04%
EBIT	522	462	368	412	287
EBIT Margin	17.10%	16.10%	13.74%	16.35%	11.40%
Effective Tax Rate	26.60%	16.87%	20.23%	19.32%	13.14%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q