Tearsheet

UL Solutions (ULS)

Market Price (3/1/2026): $84.5 | Market Cap: $17.0 Bil
Sector: null | Industry:

UL Solutions (ULS)

Market Price (3/1/2026): $84.5
Market Cap: $17.0 Bil
Sector: null
Industry:

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13%	Key risks ULS key risks include [1] intense competition from numerous global TIC market players that can directly impact its pricing power.
1	Low stock price volatility Vol 12M is 40%
2	Megatrend and thematic drivers Megatrends include Sustainable & Green Buildings, Electric Vehicles & Autonomous Driving, and Renewable Energy Transition. Themes include Green Building Certification, Show more.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13%
1	Low stock price volatility Vol 12M is 40%
2	Megatrend and thematic drivers Megatrends include Sustainable & Green Buildings, Electric Vehicles & Autonomous Driving, and Renewable Energy Transition. Themes include Green Building Certification, Show more.
3	Key risks ULS key risks include [1] intense competition from numerous global TIC market players that can directly impact its pricing power.

Valuation, Metrics & Events

	3/1/26	2025	2024	2023	2022
Share Price CYE	$84.50	$78.86	$49.88	�	�
Market Cap CYE ($ Bil)	17.0	15.9	10.0	-	-
Total Debt ($ Bil)	0.7	0.7	0.9	1.1	0.7
Total Cash ($ Bil)	0.3	0.3	0.3	0.3	0.4
Enterprise Value ($ Bil)	17.4	16.6	10.9
Valuation Ratios
P/S TTM	5.6	5.2	3.5	-	-
P/EBIT TTM	33.2	31.0	21.2	-	-
P/E TTM	52.3	48.8	30.6	-	-
P/FCF TTM	42.1	39.3	34.8	-	-
Sector Ratios
P/S TTM (Sector)	4.2	3.9	3.7	3.2	2.9
P/EBIT TTM (Sector)	19.7	17.8	19.4	18.4	19.7
P/E TTM (Sector)	26.9	24.7	25.6	23.2	23.4
P/FCF TTM (Sector)	26.5	24.7	23.6	23.8	23.9

	3/1/26	2025	2024
Share Price CYE	$84.50	$78.86	$49.88
Market Cap CYE ($ Bil)	17.0	15.9	10.0
Total Debt ($ Bil)	0.7	0.7	0.9
Total Cash ($ Bil)	0.3	0.3	0.3
Enterprise Value ($ Bil)	17.4	16.6	10.9
Valuation Ratios
P/S TTM	5.6	5.2	3.5
P/EBIT TTM	33.2	31.0	21.2
P/E TTM	52.3	48.8	30.6
P/FCF TTM	42.1	39.3	34.8
Sector Ratios
P/S TTM (Sector)	4.2	3.9	3.7
P/EBIT TTM (Sector)	19.7	17.8	19.4
P/E TTM (Sector)	26.9	24.7	25.6
P/FCF TTM (Sector)	26.5	24.7	23.6

	ULS	S&P 500
REVENUE GROWTH	FAIR
Rev LTM ($ Bil)	3.1
Rev Chg Q	6.8%	7.6%
Rev Chg LTM	6.4%	6.6%
Rev Chg 3Y Avg	6.6%	5.7%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	0.6
CFO LTM ($ Bil)	0.6
Net Inc LTM ($ Bil)	0.3
Op Mgn LTM	18.2%	18.8%
CFO/Rev LTM	19.7%	20.8%
Net Inc Mgn	10.6%	12.9%
VALUATION	VERY HIGH
P/S	5.6	3.4
P/CFO	28.3	16.6
P/FCF	42.1	21.5
P/E	52.3	25.2
STABILITY	VERY GOOD
Debt/Equity	0.04	0.20
Cash/Assets	0.10	0.07

AI Analysis | Feedback

Metric	Value	Date	Source
Number of Customers	more than 80,000	12312023	Link
Customer Retention Rate (amongst 500 largest customer accounts)	approximately 99%	12312023	Link
Number of Countries with Customers	over 110	12312023	Link
Number of Technical Accreditations	more than 650	12312023	Link
Number of Commercial Software Solutions	83	12312023	Link
Number of Active Standards Panels and Technical Committees	over 1,300	12312023	Link
Number of Industries Served	more than 35	9302025	Link

Recent
2/19/2026	Earnings Release	Rev: $789 Mil (A) vs. $747 Mil (E) EPS: 0.53 (A) vs. $0.46 (E)
Upcoming
3/02/2026	Dividend	Amount: $0.14 Payment On: 3/12/2026
5/25/2026	Earnings Release	Rev: $748 Mil (E) EPS: $0.41 (E)

Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

UL Solutions (ULS) stock has lost about 10% since 11/30/2025 because of the following key factors:

1. A significant secondary public offering of 12.5 million shares by UL Standards & Engagement on December 2, 2025, likely increased the supply of shares in the market without providing new capital to UL Solutions, contributing to downward pressure on the stock.

2. Analyst downgrades and price target reductions during the period negatively impacted investor sentiment, including UBS lowering its price target by 11.46% from $96.00 to $85.00 on January 20, 2026, and Zacks Research cutting its rating from "strong-buy" to "hold" on January 29, 2026.

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Stock Movement Drivers

Fundamental Drivers

The -7.9% change in ULS stock from 11/30/2025 to 2/28/2026 was primarily driven by a -5.7% change in the company's Net Income Margin (%).

(LTM values as of)	11302025	2282026	Change
Stock Price ($)	91.21	83.97	-7.9%
Change Contribution By:
Total Revenues ($ Mil)	3,003	3,053	1.7%
Net Income Margin (%)	11.3%	10.6%	-5.7%
P/E Multiple	54.1	51.9	-4.0%
Shares Outstanding (Mil)	201	201	0.0%
Cumulative Contribution			-7.9%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 2/28/2026

	Return	Correlation
ULS	-7.9%
Market (SPY)	0.4%	22.6%

Fundamental Drivers

The 33.1% change in ULS stock from 8/31/2025 to 2/28/2026 was primarily driven by a 33.9% change in the company's P/E Multiple.

(LTM values as of)	8312025	2282026	Change
Stock Price ($)	63.08	83.97	33.1%
Change Contribution By:
Total Revenues ($ Mil)	2,951	3,053	3.5%
Net Income Margin (%)	11.1%	10.6%	-3.9%
P/E Multiple	38.8	51.9	33.9%
Shares Outstanding (Mil)	201	201	0.0%
Cumulative Contribution			33.1%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 2/28/2026

	Return	Correlation
ULS	33.1%
Market (SPY)	6.6%	19.1%

Fundamental Drivers

The 58.7% change in ULS stock from 2/28/2025 to 2/28/2026 was primarily driven by a 60.0% change in the company's P/E Multiple.

(LTM values as of)	2282025	2282026	Change
Stock Price ($)	52.91	83.97	58.7%
Change Contribution By:
Total Revenues ($ Mil)	2,870	3,053	6.4%
Net Income Margin (%)	11.4%	10.6%	-6.3%
P/E Multiple	32.5	51.9	60.0%
Shares Outstanding (Mil)	200	201	-0.5%
Cumulative Contribution			58.7%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 2/28/2026

	Return	Correlation
ULS	58.7%
Market (SPY)	16.5%	28.0%

Fundamental Drivers

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Market Drivers

2/28/2023 to 2/28/2026

	Return	Correlation
ULS
Market (SPY)	79.6%	28.3%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
ULS Return	-	-	-	44%	59%	7%	145%
Peers Return	22%	-32%	37%	11%	11%	22%	71%
S&P 500 Return	27%	-19%	24%	23%	16%	1%	84%
Monthly Win Rates [3]
ULS Win Rate	-	-	-	78%	75%	50%
Peers Win Rate	62%	40%	68%	52%	52%	60%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
ULS Max Drawdown	-	-	-	-4%	-1%	-12%
Peers Max Drawdown	-13%	-46%	-8%	-15%	-31%	-11%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-1%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: KEYS, VRSK, WK, FORM, MG.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/27/2026 (YTD)

How Low Can It Go

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In The Past

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About UL Solutions (ULS)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

We work for a safer world. Our mission drives our actions, inspires our employees and is the key to our success. We strive to be our customers’ most trusted science-based safety, security and sustainability partner. We are a global safety science leader that provides independent testing, inspection and certification (“TIC”) services and related software and advisory (“S&A”) offerings to customers worldwide. Our history dates back to our founding in 1894 as part of the nonprofit Underwriters Electrical Bureau, a predecessor to UL Research Institutes, UL Standards & Engagement and UL Solutions. As the largest TIC services provider headquartered in North America (by revenue) with a global network of laboratories, we provided a comprehensive set of product safety, security and sustainability solutions to more than 80,000 customers across over 110 countries in 2023. Our distinguished heritage and our long history of operating at the forefront of safety science enables us to achieve and maintain more than 650 technical accreditations and 83 commercial software solutions, and to remain active in over 1,300 standards panels and technical committees globally, which underpins the expertise we offer to our customers. Furthermore, we offer over 450 independent third-party conformity assessment services around the world and are capable of testing and certifying against over 4,000 global standards, which affords us vast insight into the safety of products across a wide range of end markets and geographies. We are the owner of the iconic UL-in-a-circle certification mark (“UL Mark”) that appears on billions of products around the world. We offer our customers global market access services that help them ensure the safety and quality of their products while also supporting their efforts to manage the broader risks they face throughout their product lifecycle processes. We believe our extensive knowledge of, and expertise in, global safety science provides us with a strong competitive advantage relative to other global TIC service providers. People are at the core of who we are and what we do for our customers. Our technical team of more than 9,900 scientists, engineers and other specialized technical and regulatory experts has been nurtured and developed over many years and is a differentiator of our business. This deep and highly trained talent pool, and our strong technical laboratory capabilities, enable us to serve as a trusted and independent partner to our diverse array of global customers. We serve our customers through two complementary businesses, TIC and S&A. Our TIC business is made up of two segments, Industrial and Consumer, which provide comprehensive testing, inspection and certification services to customers across a broad array of end markets. Our S&A business is a global provider of software, data and advisory solutions, enabling our customers to manage complex regulatory requirements, deliver supply chain transparency and operationalize sustainability. We generate revenue in these segments and the following service categories: Certification Testing; Ongoing Certification Services; Non-certification Testing and Other Services; and Software. As the global economy continues to evolve and becomes more digital and inter-connected, our customers continue to seek ways to bridge traditional TIC needs with next generation cloud-based software and services to better mitigate risk and enhance their business performance. We believe that our complementary TIC and S&A offerings position us to capitalize on this market need and better serve our customers, of which we had more than 80,000 in 2023. In 2023, approximately 70% of our global and strategic accounts utilized both TIC and S&A services. The scope of our global and strategic accounts is primarily based on two factors: (1) each customer’s current spend with us and (2) an estimate of each such customer’s potential future spend with us. The scope is then further revised based on regional priorities, emerging trends and recent changes in each customer’s spend. Given the nature of our services, we are continuously engaging and working side-by-side with our customers. On any given day, throughout the world, our teams can be found in more than 1,500 of our customers’ global manufacturing locations inspecting products, facilities, processes and systems and interacting with our customers. Similarly, many of our customers spend time in our laboratories observing the testing of their products, or spend time in their workplaces using our proprietary software and material and chemical databases to share information across their value chains. Our strong customer relationships, coupled with the essential nature of our core testing, inspection and certification services, drive high customer retention; in 2023, we achieved an approximately 99% customer retention rate amongst our 500 largest customer accounts from each of 2019, 2020, 2021 and 2022. We calculate our customer retention rate as the percentage of our top 500 customers in a given year that generate revenue with us in subsequent years, and we measure this metric at the parent level; therefore, a customer for this purpose may be comprised of several subsidiaries and independent businesses. Our attractive business model has allowed us to deliver a long track record of stable growth and profitability. Underlying demand for our services is largely driven by a combination of regulatory requirements and evolving customer and consumer preferences, providing strong stability and visibility to our financial profile. We have made significant investments in our people, laboratories and digital capabilities over many decades, allowing us to execute our growth strategy and meet the increasingly complex needs of our customers. We supplement our organic growth with acquisitions, having successfully completed and integrated 54 acquisitions since 2010. As a result of our organic and inorganic growth, we are the number one TIC services provider for products and a top ten TIC provider globally as measured by revenue, with a compound annual revenue growth rate of approximately 7% over the last 12 years. --- In 1894, William Henry Merrill, Jr. founded Underwriters Electrical Bureau, an electrical testing laboratory to insurance underwriters. In 1901, Underwriters Laboratories, the predecessor to UL Research Institutes, was incorporated in the state of Illinois as a nonprofit organization dedicated to the promotion of safety standards, publishing its first standard in 1903, “Tin Clad Fire Doors.” The first UL Mark for use outside of the United States was introduced in 1992 for the Canadian market. For 130 years, UL Research Institutes has engaged, including through controlled affiliates, in four principal activities: (1) conducting and disseminating scientific research on public safety issues, (2) engaging in education and outreach activities to promote public safety, (3) developing standards for public safety and (4) testing, inspecting and certifying products to safety standards. UL Solutions Inc., the registrant, was incorporated as Underwriters Laboratories (USA) Inc. in 2008 and changed its name to UL Inc. in 2011. In 2012, UL Research Institutes transferred its testing, inspection and certification activities to UL Inc. In 2021, UL Research Institutes transferred its Standards Activities to UL Standards & Engagement, pursuant to the Reorganization, and on June 16, 2022, the Company filed an amendment to its restated certificate of incorporation changing the Company’s name to UL Solutions Inc. UL Research Institutes remains a tax-exempt nonprofit organization and continues to engage in scientific research activities. UL Solutions Inc. remains an indirect subsidiary of UL Research Institutes, with the same goal of advancing public safety. Our corporate headquarters are located at 333 Pfingsten Road, Northbrook, Illinois 60062.

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Here are 1-3 brief analogies to describe UL Solutions:

Like the FDA, but for a vast range of consumer and industrial products, certifying their safety and compliance.
The PwC or Deloitte of product safety, auditing and certifying compliance for manufacturers globally.
Similar to Energy Star, but their widely recognized mark signifies product safety and regulatory compliance across virtually all industries.

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Testing, Inspection, and Certification (TIC) Services: UL Solutions provides comprehensive services to test products for safety, quality, and performance against established standards, and issues certifications for compliance.
Advisory and Consulting Services: They offer expert guidance to businesses on product development, regulatory compliance, risk management, and sustainability strategies.
Software Solutions: UL Solutions develops and provides software platforms for product compliance management, supply chain transparency, and environmental, social, and governance (ESG) reporting.
Training and Education: They deliver educational programs and workshops on global safety standards, regulatory requirements, and industry best practices.

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UL Solutions (symbol: ULS) primarily sells its services and software to **other companies** (business-to-business or B2B). Due to the nature of its business (safety science, testing, inspection, certification, and advisory services), UL Solutions serves a vast and highly diversified global customer base across numerous industries. The company's public filings indicate that no single customer or small group of customers accounts for a material portion of its revenue (e.g., no single customer typically represents more than 1% of their total revenue). Therefore, it does not identify specific "major customer companies" by name. Instead, its customers fall into broad categories of businesses that require compliance, safety, quality assurance, and performance validation for their products, systems, and operations. These categories include:

Product Manufacturers

This category encompasses companies that design and produce a wide array of goods across various sectors. These include manufacturers of electronics, automotive components, medical devices, industrial machinery, consumer products (e.g., appliances, toys), building materials, and more. They utilize UL Solutions for product testing, certification, electromagnetic compatibility (EMC) testing, performance validation, and market access services to meet regulatory and safety standards globally.
Retailers & Brands

This group consists of businesses that sell products directly to consumers or manage significant product brands. They rely on UL Solutions for supply chain assurance, quality control, sustainability verification, and compliance testing for the vast range of items they source and sell. This helps them ensure product safety, maintain brand reputation, and mitigate risks associated with their global supply chains.
Industrial & Energy Sector Companies

This category includes entities operating in heavy industries, energy production (e.g., renewable energy, oil & gas), utilities, and other infrastructure-related sectors. These customers engage UL Solutions for safety assessments, certification of equipment and components, operational compliance, cybersecurity services for industrial control systems, and advisory services to enhance safety and performance in complex industrial environments.

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Jennifer F. Scanlon President and Chief Executive Officer

Jennifer F. Scanlon is the President and CEO of UL Solutions and a member of its board of directors, positions she has held since 2019. Under her leadership, UL Solutions successfully completed an initial public offering on the New York Stock Exchange in April 2024. Before joining UL Solutions, Scanlon served as President and CEO of USG Corporation, a publicly traded manufacturer of building products, from November 2016 to April 2019. During her 16 years at USG, she also held roles as CIO and head of Corporate Strategy, leading the company through international expansion, digital transformation, and the evolution of sustainable products. She began her career at IBM in service delivery and consulting roles.

Ryan D. Robinson Executive Vice President and Chief Financial Officer

Ryan D. Robinson has served as Executive Vice President and Chief Financial Officer of UL Solutions since May 2017. He is responsible for corporate strategy, mergers and acquisitions, financial planning and analysis, accounting, treasury, tax, and business support functions. Prior to UL Solutions, Robinson was Chief Administrative Officer and CFO for Sears Hometown and Outlet Stores, Inc., a publicly traded spin-off from Sears Holdings. He also spent ten years at Best Buy Co., Inc., where his roles included CFO of the US business, treasurer, and head of corporate development. He also served as CFO at MedExpress Urgent Care.

Scott L. D'Angelo Executive Vice President, Chief Legal Officer and Corporate Secretary

Scott L. D'Angelo serves as Executive Vice President, Chief Legal Officer, and Corporate Secretary of UL Solutions, a role he started in April 2025. He leads the legal, brand integrity, ethics, and compliance functions. Before joining UL Solutions, D'Angelo had over 20 years of experience in corporate and private practice, including serving as Vice President, Chief Legal and Administrative Officer, and Corporate Secretary for CTS Corp., a publicly held global designer and manufacturer.

Alex Dadakis Executive Vice President and President, TIC

Effective September 1, 2025, Alex Dadakis will become Executive Vice President and President of Testing, Inspection and Certification (TIC). He previously served as Executive Vice President and Chief Business Operations and Innovation Officer from January to August 2025. Prior to joining UL Solutions, Dadakis was Senior Vice President, Global Head of Strategy and Corporate Development at Germany-based Knauf Group, and before that, SVP and Chief Customer Experience and Strategy Officer at USG Corporation.

Linda Chapin Senior Vice President and Chief Human Resources Officer

Linda Chapin serves as the Senior Vice President and Chief Human Resources Officer of UL Solutions. She is a member of the Executive Leadership Team.

AI Analysis | Feedback

UL Solutions (ULS) faces several key risks to its business operations.

The most significant risk is intense competition within the outsourced product and component Testing, Inspection, and Certification (TIC) market. UL Solutions competes globally with large public companies such as Intertek, Bureau Veritas, SGS, and Eurofins, as well as numerous private organizations like Element, TÜV, DNV, SÜD, and DEKRA. This competitive landscape can directly impact UL Solutions' pricing power.

Secondly, macroeconomic shifts and increasing regulatory pressures pose a notable risk. Economic slowdowns or changes in the regulatory environment can lead to customers reducing their innovation cycles or cutting budgets, which in turn could decrease the demand for UL Solutions' essential testing, inspection, and certification services.

Finally, cybersecurity incidents and other technology disruptions represent a key risk. As a company that relies heavily on technology and manages extensive data, UL Solutions is exposed to the threat of cyberattacks or failures in its information technology and software infrastructure. Such events could compromise data integrity, disrupt operations, and potentially damage the company's reputation.

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UL Solutions (ULS) operates in several significant addressable markets through its core offerings of testing, inspection, and certification (TIC) services, alongside its software and advisory solutions. Below are the estimated market sizes for their main products and services:

Outsourced Testing, Inspection, and Certification (TIC) Services: The global outsourced TIC market was approximately $99 billion in 2022. The broader global TIC market was estimated at USD 399.39 billion in 2024 and is projected to reach USD 499.00 billion by 2030.
Consumer Product Safety Testing: The global consumer product safety testing market was valued at $33.05 billion in 2021 and is projected to reach $60.50 billion by 2031.
Regulatory and Compliance Services: The global regulatory and compliance services market size was valued at approximately USD 46 billion in 2023 and is projected to reach around USD 78 billion by 2032.
Cybersecurity Certification: The global cybersecurity certification market size is projected to grow from USD 3.98 billion in 2024 to USD 8.03 billion by 2030.
Renewable Energy Certificate (REC) Market: The global renewable energy certificate market was valued at US$ 15.38 billion in 2024 and is set to reach US$ 233.81 billion by 2034.
General Software Market (for their Software & Advisory segment): The global software market size was estimated at USD 730.70 billion in 2024 and is projected to reach USD 1,397.31 billion by 2030.

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Here are 3-5 expected drivers of future revenue growth for UL Solutions (ULS) over the next 2-3 years:

Strategic Investments in Advanced Testing Capabilities: UL Solutions is making significant capital investments in new and expanded testing facilities to meet increasing customer demand driven by global megatrends. This includes major investments in areas like industrial and EV battery testing, as exemplified by new facilities in Auburn Hills, Michigan, and plans for an Advanced Automotive and Battery Testing Center in Pyeongtaek, South Korea. These expanded capabilities are expected to contribute to growth from 2025 onwards.
Growth in Industrial and Consumer Segments: Both the Industrial and Consumer segments have demonstrated strong organic revenue growth, which is anticipated to continue. Drivers within these segments include increased demand for retail and electromagnetic compatibility testing in the Consumer segment, and continued demand related to electrical products, renewable energy, and component certification testing and services in the Industrial segment.
Leveraging Global Megatrends: The company is strategically positioned to capitalize on global megatrends such as the global energy transition, digitalization, and data center growth. These trends are increasing the need for UL Solutions' safety science, testing, inspection, and certification services across various industries.
Expansion of Software and Advisory Offerings: While the advisory services have experienced some fluctuations, the software service line within the Software and Advisory segment has shown organic growth, driven by demand for its software portfolio, including retail product compliance. The company provides these offerings to support customer product innovation and business growth.
Strategic Acquisitions and Portfolio Refinements: UL Solutions has indicated its ongoing commitment to pursuing acquisitions and portfolio refinements to drive future growth. An example includes the acquisition of Test Net, which is expected to enhance UL Solutions' hydrogen strategy.

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Share Issuance

UL Solutions priced its initial public offering (IPO) at $28.00 per share in April 2024, selling 33.8 million shares.
The IPO, which generated gross proceeds of $1.1 billion, consisted entirely of secondary shares sold by UL Standards & Engagement, with UL Solutions receiving no proceeds.
A secondary public offering of 23,000,000 shares of Class A common stock, also entirely secondary shares, was priced at $49.00 per share in September 2024.

Outbound Investments

In July 2024, UL Solutions acquired TesTneT Engineering GmbH, a Germany-based company specializing in hydrogen component and system testing.
UL Solutions acquired BatterieIngenieure GmbH, a German battery testing and simulation company, in May 2024, which expanded its global battery testing footprint in Europe.
The company made strategic acquisitions including Method Park (2021), kVA (2019), and Kugler Maag Cie (2022) to provide expertise for critical systems, particularly in the automotive sector for functional safety and cybersecurity.

Capital Expenditures

Capital expenditures were $237 million for the full year 2024, an increase from $215 million in 2023, with a primary focus on strategic investments in energy transition opportunities.
For the first nine months of 2025, capital expenditures were $139 million, a decrease from $179 million for the same period in 2024, which included the construction of a new battery testing laboratory in Auburn Hills, Michigan.
Expected capital expenditures for 2025 are projected to be in the range of 6.5% to 7.0% of revenue, supporting investments in new labs and software, including a global fire science center, HVAC labs, and an advanced automotive lab in Japan.

Interactive Breakdown

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Better Bets vs. UL Solutions (ULS)

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Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	UL Solutions Stock Pre-Market (+15%) : New Plug-In Solar Safety Standard Development	01/28/2026
2	UL Solutions Earnings Notes	01/04/2026
3	null	11/05/2025
4	UL Solutions Stock Jump Looks Great, But How Secure Is That Gain?	10/17/2025
5	Why UL Solutions Stock Moved: ULS Stock Has Gained 55% Since 2024 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)	08/08/2025
6	UL Solutions (ULS) Valuation Ratios Comparison	05/15/2025
7	UL Solutions (ULS) Operating Cash Flow Comparison	02/17/2025
8	ARTICLES
9	Mid Cap Stocks Trading At 52-Week High	11/05/2025

	Title
0	DASHBOARDS
1	UL Solutions Stock Pre-Market (+15%) : New Plug-In Solar Safety Standard Development
2	UL Solutions Earnings Notes
3	null
4	UL Solutions Stock Jump Looks Great, But How Secure Is That Gain?
5	Why UL Solutions Stock Moved: ULS Stock Has Gained 55% Since 2024 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)
6	UL Solutions (ULS) Valuation Ratios Comparison
7	UL Solutions (ULS) Operating Cash Flow Comparison
8	ARTICLES
9	Mid Cap Stocks Trading At 52-Week High

Trade Ideas

Select ideas related to ULS.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
PINS_1302026_Dip_Buyer_High_CFO_Margins_ExInd_DE	01302026	PINS	Pinterest	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	-22.6%	-22.6%	-30.3%
VRSK_10172025_Monopoly_xInd_xCD_Getting_Cheaper	10172025	VRSK	Verisk Analytics	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-10.5%	-10.5%	-26.9%
ULS_4302024_Insider_Buying_GTE_1Mil_EBITp+DE_V2	04302024	ULS	UL Solutions	Insider	Insider Buys \| Low D/EStrong Insider Buying Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	50.7%	64.6%	-0.7%

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DELL	Dell Technologies	99.4	21.9%	18.2%
XYZ	Block	38.9	16.8%	-2.1%
XRAY	Dentsply Sirona	2.9	15.5%	28.4%
NFLX	Netflix	407.0	13.8%	2.6%
RLAY	Relay Therapeutics	1.8	12.0%	21.3%
BCRX	BioCryst Pharmaceuticals	1.8	10.8%	12.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
RNA	Atrium Therapeutics	2.0	-79.7%	-79.6%
FLGT	Fulgent Genetics	0.5	-38.1%	-41.6%
RUN	Sunrun	3.1	-35.1%	-28.0%
PAR	PAR Technology	0.7	-27.0%	-54.8%
FIGR	Figure Technology Solutions	2.6	-25.7%	-38.1%
WLDN	Willdan	1.3	-25.5%	-14.0%
AIV	Apartment Investment & Management	0.6	-24.0%	-25.8%
AMPH	Amphastar Pharmaceuticals	0.9	-23.6%	-24.5%
PCT	PureCycle Technologies	1.1	-22.3%	-26.5%
PGNY	Progyny	1.5	-20.5%	-31.1%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
ACLX	Arcellx	6.4	77.5%	74.5%
AAOI	Applied Optoelectronics	5.3	63.0%	141.6%
PVLA	Palvella Therapeutics	1.5	57.6%	29.0%
YOU	Clear Secure	4.7	41.9%	38.7%
PRME	Prime Medicine	0.7	41.3%	33.1%
BWIN	Baldwin Insurance	1.6	40.5%	-3.3%
ACHC	Acadia Healthcare	2.1	39.6%	65.2%
NEWP	New Pacific Metals	1.0	37.8%	62.1%
FIGS	FIGS	2.5	37.5%	36.0%
ARLO	Arlo Technologies	1.7	35.1%	12.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
GOSS	Gossamer Bio	0.1	-80.1%	-86.3%
RNA	Atrium Therapeutics	2.0	-79.8%	-79.6%
EOSE	Eos Energy Enterprises	1.5	-46.8%	-50.3%
SHLS	Shoals Technologies	1.0	-44.1%	-30.2%
MNKD	MannKind	1.0	-40.8%	-42.2%
ERII	Energy Recovery	0.6	-35.8%	-22.7%
DRVN	Driven Brands	1.8	-35.6%	-25.8%
RUN	Sunrun	3.1	-34.7%	-28.0%
FLGT	Fulgent Genetics	0.5	-33.9%	-41.6%
QURE	uniQure	0.9	-33.3%	-34.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
AXTI	AXT	1.7	125.2%	131.8%
FSLY	Fastly	2.8	92.7%	87.8%
NKTR	Nektar Therapeutics	1.3	92.1%	63.2%
AAOI	Applied Optoelectronics	5.3	86.2%	141.6%
LITE	Lumentum	49.3	82.1%	90.2%
ACHC	Acadia Healthcare	2.1	74.4%	65.2%
PVLA	Palvella Therapeutics	1.5	71.5%	29.0%
VAL	Valaris	6.8	68.5%	90.2%
ACLX	Arcellx	6.4	67.0%	74.5%
INNV	InnovAge	1.2	62.9%	72.6%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
GOSS	Gossamer Bio	0.1	-83.3%	-86.3%
RNA	Atrium Therapeutics	2.0	-79.6%	-79.6%
UPB	Upstream Bio	0.4	-74.8%	-71.7%
EOSE	Eos Energy Enterprises	1.5	-65.9%	-50.3%
FIGR	Figure Technology Solutions	2.6	-62.8%	-38.1%
U	Unity Software	7.7	-54.6%	-58.7%
RR	Richtech Robotics	0.4	-51.0%	-22.9%
RPD	Rapid7	0.4	-50.4%	-59.1%
FLNC	Fluence Energy	2.0	-49.9%	-21.4%
FUBO	FuboTV	0.4	-49.8%	-53.6%

Peer Comparisons

Peers to compare with:

Financials

	ULS	KEYS	VRSK	WK	FORM	MG	Median
Name	UL Solut.	Keysight.	Verisk A.	Workiva	FormFact.	MISTRAS
Mkt Price	83.97	307.33	207.57	61.58	98.88	15.28	91.42
Mkt Cap	16.9	52.9	29.0	3.5	7.7	0.5	12.3
Rev LTM	3,053	5,375	3,030	846	759	715	1,938
Op Inc LTM	557	876	1,347	-64	42	47	302
FCF LTM	403	1,281	1,116	130	5	-0	267
FCF 3Y Avg	314	1,130	942	80	20	7	197
CFO LTM	600	1,409	1,348	133	105	27	367
CFO 3Y Avg	530	1,290	1,179	82	91	31	311

Growth & Margins

	ULS	KEYS	VRSK	WK	FORM	MG	Median
Name	UL Solut.	Keysight.	Verisk A.	Workiva	FormFact.	MISTRAS
Rev Chg LTM	6.4%	8.0%	7.3%	19.9%	2.3%	-3.2%	6.8%
Rev Chg 3Y Avg	6.6%	-0.0%	13.4%	18.0%	-0.5%	1.3%	3.9%
Rev Chg Q	6.8%	10.3%	5.9%	20.8%	-2.5%	7.0%	6.9%
QoQ Delta Rev Chg LTM	1.7%	2.5%	1.4%	4.8%	-0.7%	1.8%	1.7%
Op Mgn LTM	18.2%	16.3%	44.4%	-7.5%	5.6%	6.6%	11.5%
Op Mgn 3Y Avg	16.5%	19.3%	43.6%	-11.3%	3.1%	5.1%	10.8%
QoQ Delta Op Mgn LTM	1.0%	-0.7%	0.5%	2.6%	0.2%	1.2%	0.8%
CFO/Rev LTM	19.7%	26.2%	44.5%	15.7%	13.9%	3.7%	17.7%
CFO/Rev 3Y Avg	18.4%	24.4%	41.6%	10.9%	12.5%	4.3%	15.5%
FCF/Rev LTM	13.2%	23.8%	36.8%	15.4%	0.7%	-0.0%	14.3%
FCF/Rev 3Y Avg	10.9%	21.3%	33.2%	10.6%	2.7%	1.0%	10.7%

Valuation

	ULS	KEYS	VRSK	WK	FORM	MG	Median
Name	UL Solut.	Keysight.	Verisk A.	Workiva	FormFact.	MISTRAS
Mkt Cap	16.9	52.9	29.0	3.5	7.7	0.5	12.3
P/S	5.5	9.8	9.6	4.1	10.1	0.7	7.5
P/EBIT	33.0	44.9	21.5	-121.5	98.1	12.6	27.2
P/E	51.9	62.2	31.4	-74.1	187.3	26.6	41.7
P/CFO	28.1	37.5	21.5	26.1	72.6	18.2	27.1
Total Yield	2.5%	1.6%	4.0%	-1.3%	0.5%	3.8%	2.1%
Dividend Yield	0.6%	0.0%	0.8%	0.0%	0.0%	0.0%	0.0%
FCF Yield 3Y Avg	-	3.7%	2.7%	1.5%	0.6%	2.8%	2.7%
D/E	0.0	0.1	0.2	0.2	0.0	0.5	0.1
Net D/E	0.0	0.0	0.1	-0.0	-0.0	0.4	0.0

Returns

	ULS	KEYS	VRSK	WK	FORM	MG	Median
Name	UL Solut.	Keysight.	Verisk A.	Workiva	FormFact.	MISTRAS
1M Rtn	18.0%	39.0%	-4.2%	-19.3%	34.8%	8.2%	13.1%
3M Rtn	-7.9%	55.3%	-7.6%	-33.5%	79.7%	27.4%	9.9%
6M Rtn	33.1%	88.0%	-22.3%	-25.1%	238.7%	59.8%	46.5%
12M Rtn	58.7%	92.6%	-29.6%	-29.6%	196.9%	55.3%	57.0%
3Y Rtn	144.1%	95.6%	19.7%	-30.8%	226.3%	183.0%	119.9%
1M Excs Rtn	17.8%	40.2%	-3.8%	-22.8%	37.7%	11.4%	14.6%
3M Excs Rtn	-6.8%	55.6%	-8.4%	-35.4%	84.3%	27.2%	10.2%
6M Excs Rtn	27.2%	80.1%	-28.3%	-29.5%	231.7%	52.4%	39.8%
12M Excs Rtn	42.9%	76.2%	-42.9%	-46.6%	173.0%	40.9%	41.9%
3Y Excs Rtn	71.8%	20.1%	-51.1%	-102.1%	159.9%	118.1%	45.9%

FDIC Bank Data

Bank Capital

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Bank Deposits

null

Bank Assets

null

Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022	2021	2020
Period End	12/31/2025	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	2/19/2026	2/19/2026	2/20/2025	4/15/2024	11/13/2023	12/22/2022	1/18/2022
Key Financials
Total Revenue	3,053	3,053	2,870	2,678	2,520	2,517	2,301
EBITDA	699	699	642	535	535	417	481
Operating Income	557	557	461	409	412	287	363
Net Income	325	325	326	260	293	224	231
EPS	1.63	1.62	1.63	1.30	1.47	1.12	1.16
Growth Rates
Total Revenue Growth	6.4%	6.4%	7.2%	6.3%	0.1%	9.4%	-0.6%
EBITDA Growth	8.9%	8.9%	20.0%	0.0%	28.3%	-13.3%	2.8%
Operating Income Growth	20.8%	20.8%	12.7%	-0.7%	43.6%	-20.9%	11.0%
Net Income Growth	-0.3%	-0.3%	25.4%	-11.3%	30.8%	-3.0%	-6.1%
Margins
EBITDA Margin	22.9%	22.9%	22.4%	20.0%	21.2%	16.6%	20.9%
Operating Income Margin	18.2%	18.2%	16.1%	15.3%	16.3%	11.4%	15.8%
Net Income Margin	10.6%	10.6%	11.4%	9.7%	11.6%	8.9%	10.0%
Cash & Debt
Total Cash	295	295	298	315	373	1,375	971
Total Debt	683	683	935	1,063	660	154	158
Net Debt / (Cash)	388	388	637	748	287	-1,221	-813
Cash Flows
Net Cash from Operations	600	600	524	467	372	421	487
Free Cash from Operations	403	403	287	252	208	314	368
Returns to Shareholders
Dividends	104	104	100	680	1,600	200	9
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1
Period End	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023
Filing Date	2/19/2026	11/4/2025	8/5/2025	5/6/2025	2/20/2025	11/5/2024	7/31/2024	5/20/2024	4/15/2024	11/13/2023	10/10/2023	6/30/2023
Key Financials Quarterly
Total Revenue	789	783	776	705	739	731	730	670	684	676	689	629
Ebitda	165	202	181	151	152	173	188	129	134	119	166	116
Operating Income	153	156	139	109	114	130	126	91	90	126	117	75
Net Income	67	100	91	67	81	88	101	56	58	53	94	55
EPS	0.34	0.50	0.45	0.34	0.41	0.44	0.51	0.28	0.29	0.27	0.47	0.28
Key Financials TTM
Total Revenue TTM	3,053	3,003	2,951	2,905	2,870	2,815	2,760	2,719	2,678	2,623	2,570	2,526
Ebitda TTM	699	686	657	664	642	624	570	548	535	536	545	503
Operating Income TTM	557	518	492	479	461	437	433	424	408	410	399	384
Net Income TTM	325	339	327	337	326	303	268	261	260	280	297	263
Growth Rates Quarterly
Total Revenue Growth	6.8%	7.1%	6.3%	5.2%	8.0%	8.1%	6.0%	6.5%	8.7%	8.5%	6.8%	1.0%
EBITDA Growth	8.6%	16.8%	-3.7%	17.1%	13.4%	45.4%	13.3%	11.2%	-0.7%	-7.0%	33.9%	-21.6%
Operating Income Growth	34.2%	20.0%	10.3%	19.8%	26.7%	3.2%	7.7%	21.3%	-2.2%	9.6%	14.7%	-27.2%
Net Income Growth	-17.3%	13.6%	-9.9%	19.6%	39.7%	66.0%	7.4%	1.8%	-25.6%	-24.3%	56.7%	-35.3%
Margins Quarterly
EBITDA Margin	20.9%	25.8%	23.3%	21.4%	20.6%	23.7%	25.8%	19.3%	19.6%	17.6%	24.1%	18.4%
Operating Income Margin	19.4%	19.9%	17.9%	15.5%	15.4%	17.8%	17.3%	13.6%	13.2%	18.6%	17.0%	11.9%
Net Income Margin	8.5%	12.8%	11.7%	9.5%	11.0%	12.0%	13.8%	8.4%	8.5%	7.8%	13.6%	8.7%
Cash & Debt
Total Cash	295	255	272	267	298	327	295	344	315	457	440	483
Total Debt	683	736	805	843	935	987	938	1,020	1,063	648	649	684
Net Debt / (Cash)	388	481	533	576	637	660	643	676	748	191	209	201
Cash Flows Quarterly
FCF from Operations	144	155	147	154	130	150	103	141	126	121	59	161
Cash Flows TTM
FCF from Operations TTM	600	586	581	537	524	520	491	447	467	421	431	428
Returns to Shareholders Quarterly
Dividends	26	26	26	26	25	25	25	25	620	20	20	20
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	35.1%	36.4%	34.0%	26.2%	32.6%	31.5%	31.1%	23.2%	20.5%	37.7%	36.8%	23.0%
Return on Invested Capital (ROIC) TTM
ROIC TTM	34.6%	32.7%	31.5%	31.2%	29.7%	26.2%	26.7%	26.3%	23.6%	33.0%	31.6%	29.5%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Industrial	1,254	1,146	1,044	1,051	965
Consumer	1,238	1,172	1,128	1,138	1,045
Software and Advisory	378	360	348	328	291
Corporate			0	0	0
Total	2,870	2,678	2,520	2,517	2,301

Operating Income by Segment

$ Mil	2025	2024	2023	2022	2021
Industrial	338	308	286	244	253
Consumer	114	45	101	50	105
Software and Advisory	10	15	25	-7	5
Corporate			0	0	0
Total	462	368	412	287	363

Price Behavior

Price Behavior

Market Price	$83.97
Market Cap ($ Bil)	16.9
First Trading Date	04/12/2024
Distance from 52W High	-7.9%
	50 Days	200 Days
DMA Price	$76.67	$73.97
DMA Trend	up	down
Distance from DMA	9.5%	13.5%
	3M	1YR
Volatility	50.1%	40.1%
Downside Capture	60.67	40.22
Upside Capture	5.78	80.83
Correlation (SPY)	23.3%	28.1%

ULS Betas & Captures as of 2/28/2026

	1M	2M	3M	6M	1Y	3Y
Beta	1.56	1.58	1.07	0.69	0.58	0.07
Up Beta	1.00	1.50	2.23	1.51	0.56	-0.04
Down Beta	5.38	2.37	2.04	0.94	0.61	0.30
Up Capture	189%	149%	5%	73%	72%	25%
Bmk +ve Days	9	20	31	70	142	431
Stock +ve Days	12	18	28	66	137	254
Down Capture	-63%	108%	62%	0%	50%	52%
Bmk -ve Days	12	21	30	54	109	320
Stock -ve Days	9	22	32	57	111	212

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

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Based On 5-Year Data

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Based On 10-Year Data

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Short Interest

Short Interest: As Of Date	2132026
Short Interest: Shares Quantity	3.7 Mil
Short Interest: % Change Since 1312026	13.3%
Average Daily Volume	1.1 Mil
Days-to-Cover Short Interest	3.5 days
Basic Shares Quantity	201.0 Mil
Short % of Basic Shares	1.8%

Returns Analyses

	Title
0	UL Solutions Stock Jump Looks Great, But How Secure Is That Gain?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
2/19/2026	16.0%	15.1%
11/4/2025	10.6%	10.6%	-2.2%
8/5/2025	-11.5%	-9.3%	-14.0%
5/6/2025	12.3%	17.3%	20.1%
2/20/2025	-2.8%	-3.9%	-3.1%
11/5/2024	-0.8%	-0.7%	4.4%
7/31/2024	10.1%	7.6%	18.8%
5/20/2024	2.2%	12.9%	11.4%
SUMMARY STATS
# Positive	5	5	4
# Negative	3	3	3
Median Positive	10.6%	12.9%	15.1%
Median Negative	-2.8%	-3.9%	-3.1%
Max Positive	16.0%	17.3%	20.1%
Max Negative	-11.5%	-9.3%	-14.0%

	Forward Returns
2/19/2026	16.0%	15.1%
11/4/2025	10.6%	10.6%	-2.2%
8/5/2025	-11.5%	-9.3%	-14.0%
5/6/2025	12.3%	17.3%	20.1%
2/20/2025	-2.8%	-3.9%	-3.1%
11/5/2024	-0.8%	-0.7%	4.4%
7/31/2024	10.1%	7.6%	18.8%
5/20/2024	2.2%	12.9%	11.4%
SUMMARY STATS
# Positive	5	5	4
# Negative	3	3	3
Median Positive	10.6%	12.9%	15.1%
Median Negative	-2.8%	-3.9%	-3.1%
Max Positive	16.0%	17.3%	20.1%
Max Negative	-11.5%	-9.3%	-14.0%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
12/31/2025	02/19/2026	10-K
09/30/2025	11/04/2025	10-Q
06/30/2025	08/05/2025	10-Q
03/31/2025	05/06/2025	10-Q
12/31/2024	02/20/2025	10-K
09/30/2024	11/05/2024	10-Q
06/30/2024	07/31/2024	10-Q
03/31/2024	05/20/2024	10-Q
12/31/2023	04/15/2024	424B4
09/30/2023	11/13/2023	S-1
06/30/2023	10/10/2023	DRS/A
03/31/2023	06/30/2023	DRS/A
09/30/2022	12/22/2022	DRS/A
03/31/2022	07/19/2022	DRS/A
12/31/2020	01/18/2022	DRS

Insider Activity

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Ulse, Inc.		Direct	Sell	12232025	78.00	1,875,000			Form
2	Ulse, Inc.		Direct	Sell	12092025	78.00	12,500,000			Form
3	Uggetti, Alberto	EVP & CCO	Direct	Sell	5092025	70.00	1,961	137,270	649,950	Form
4	Schjotz, Gitte	See Remarks	Direct	Sell	5092025	67.44	7,000	472,080	3,162,194	Form
5	Uggetti, Alberto	EVP & CCO	Direct	Sell	3112025	53.00	1,938	102,714	492,105	Form

ULS Trade Sentinel

Stock Conviction

null

CONVICTION RATIONALE

null

STOCK ARCHETYPE

null

INVESTMENT THESIS

null

Mechanism: null

Supporting Evidence:

PRIMARY RISK

null

Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

null

Diversification Alternatives

How Is The Market Pricing ULS?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What ULS Makes & Who Pays

TTM figures based on

ULS Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

UL Solutions (ULS)

Market Price (3/1/2026): $84.5 | Market Cap: $17.0 BilSector: null | Industry:

UL Solutions (ULS)

Market Price (3/1/2026): $84.5Market Cap: $17.0 BilSector: nullIndustry:

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About UL Solutions (ULS)

Product Manufacturers

Retailers & Brands

Industrial & Energy Sector Companies

Interactive Breakdown

Better Bets vs. UL Solutions (ULS)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Financials

Growth & Margins

Valuation

Returns

Comparison Analyses

FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

FDA Approved Drugs Data

Financials

Segment Financials

Price Behavior

Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Insider Activity

ULS Trade Sentinel

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CONVICTION RATIONALE

STOCK ARCHETYPE

INVESTMENT THESIS

PRIMARY RISK

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Position Sizing

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Diversification Alternatives

Repricing Catalyst

Market Price (3/1/2026): $84.5 | Market Cap: $17.0 Bil
Sector: null | Industry:

Market Price (3/1/2026): $84.5
Market Cap: $17.0 Bil
Sector: null
Industry: