UL Solutions Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $3.1B | $2.9B | $2.7B | $2.5B | — |
| Cost of revenue | $1.5B | $1.5B | $1.4B | $1.3B | — |
| Selling, general & administrative | $953.0M | $931.0M | $875.0M | $795.0M | — |
| Operating income | $522.0M | $462.0M | $368.0M | $412.0M | — |
| Interest expense | $41.0M | $55.0M | $35.0M | $17.0M | — |
| Pretax income | $470.0M | $415.0M | $346.0M | $383.0M | — |
| Income tax expense | $125.0M | $70.0M | $70.0M | $74.0M | — |
| Net income | $325.0M | $326.0M | $260.0M | $293.0M | — |
| Balance Sheet | |||||
| Cash and equivalents | $295.0M | $298.0M | $315.0M | — | — |
| Current assets | $1.0B | $921.0M | $953.0M | — | — |
| Total assets | $2.9B | $2.8B | $2.7B | — | — |
| Current liabilities | $760.0M | $740.0M | $709.0M | — | — |
| Total liabilities | $1.6B | $1.9B | $2.1B | — | — |
| Total debt | $494.0M | $747.0M | $910.0M | — | — |
| Stockholders' equity | $1.3B | $904.0M | $654.0M | $1.1B | $2.3B |
| Cash Flow Statement | |||||
| Cash from operations | $600.0M | $524.0M | $467.0M | $372.0M | — |
| Depreciation and amortization | $188.0M | $172.0M | $154.0M | $135.0M | — |
| Stock-based compensation | $47.0M | $23.0M | $0 | $0 | — |
| Capital expenditure | $197.0M | $237.0M | $215.0M | $164.0M | — |
| Free cash flow | $403.0M | $287.0M | $252.0M | $208.0M | — |
| Dividends paid | $104.0M | $100.0M | $680.0M | $1.6B | — |
| Impairments | $0 | $0 | $37.0M | $0 | — |
Shares outstanding 201.6M · Free float 37.9%
Annual filing data through FY ended December 31, 2025; float as of July 16, 2026.