UL Solutions Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	3,106	3,053	2,870	2,678	2,520	2,517
Revenue Growth (YoY)	6.92%	6.38%	7.17%	6.27%	0.12%	9.39%
Cost of Revenue	1,556	1,543	1,478	1,394	1,313	1,338
Gross Profit	1,550	1,510	1,392	1,284	1,207	1,179
Selling, General & Admin	964	953	931	875	795	892
Other Operating Expenses	37	35	-1	41	-	-
Total Operating Expenses	1,001	988	930	916	795	892
Operating Income	551	522	462	368	412	287
Interest Expense	-37	-41	-55	-35	-17	-1
Other Non-Operating Income (Expense)	-9	-11	8	13	-12	-12
Total Non-Operating Income (Expense)	-42	-52	-47	-22	-29	-13
Pretax Income	505	470	415	346	383	274
Provision for Income Taxes	134	125	70	70	74	36
Net Income	350	325	326	260	293	224
Minority Interest in Earnings	21	20	19	16	16	14
Net Income to Common	350	325	326	260	293	224
Net Income Growth	3.86%	-0.31%	25.39%	-11.26%	30.80%	-3.03%
Shares Outstanding (Basic)	201	201	200	200	200	37
Shares Outstanding (Diluted)	204	203	201	200	200	37
Shares Change (YoY)	0.74%	1.00%	0.50%	-	443.28%	9203250.00%
EPS (Basic)	1.74	1.62	1.63	1.30	1.47	6.08
EPS (Diluted)	1.71	1.60	1.62	1.30	1.47	6.08
EPS Growth	2.40%	-1.23%	24.62%	-11.56%	-75.82%	-100.00%
Shares Outstanding	201.2	201.03	200.17	200	200	200
Free Cash Flow	450	403	287	252	208	314
Free Cash Flow Growth	11.66%	40.42%	13.89%	21.15%	-33.76%	-35.52%
Free Cash Flow Per Share	2.21	1.99	1.43	1.26	1.04	8.53
Dividends Per Share	0.535	0.520	0.500	0.400	-	-
Dividend Growth	2.89%	4.00%	25.00%	-	-	-
Gross Margin	49.90%	49.46%	48.50%	47.95%	47.90%	46.84%
Operating Margin	17.74%	17.10%	16.10%	13.74%	16.35%	11.40%
Profit Margin	11.94%	11.30%	12.02%	10.31%	12.26%	9.46%
FCF Margin	14.49%	13.20%	10.00%	9.41%	8.25%	12.48%
EBITDA	741	710	634	522	547	429
EBITDA Margin	23.86%	23.26%	22.09%	19.49%	21.71%	17.04%
EBIT	551	522	462	368	412	287
EBIT Margin	17.74%	17.10%	16.10%	13.74%	16.35%	11.40%
Effective Tax Rate	26.53%	26.60%	16.87%	20.23%	19.32%	13.14%

Updated May 5, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q