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ULS · NYSE · United States · Services-Testing Laboratories
In shortUL Solutions Inc. is profitable, generates cash and carries moderate debt, with revenue growing (+6.4% last year).
Financial health
Strong
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 17.1% | 74/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 10.6% | 63/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 30.0% | 100/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 21.9% | 100/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.32× | 43/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.39× | 89/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 0.28× | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 12.73× | 100/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 3.08 | 51/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 13.2% | 73/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 1.24× | 100/100 |
| Years with positive free cash flow (last 5) | 4 of 4 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 4 of 4 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 3 | 100/100 |
| Revenue growth volatility | 0.5% | 100/100 |
| Operating margin volatility | 1.5% | 96/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 6.6% | 53/100 |
|---|---|---|
| EPS growth, 3-year average | 2.9% | 39/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
The last 4 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | 2,520 | 2,678 | 2,870 | 3,053 |
| Cost of revenue | 1,313 | 1,394 | 1,478 | 1,543 |
| Gross profit | 1,207 | 1,284 | 1,392 | 1,510 |
| Selling, general & admin | 795 | 875 | 931 | 953 |
| Operating income | 412 | 368 | 462 | 522 |
| Interest expense | 17 | 35 | 55 | 41 |
| Pre-tax income | 383 | 346 | 415 | 470 |
| Income tax | 74 | 70 | 70 | 125 |
| Net income | 293 | 260 | 326 | 325 |
| Diluted EPS | $1.47 | $1.30 | $1.62 | $1.60 |
| Diluted shares (millions) | 200 | 200 | 201 | 203 |
3.08 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
7/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 4, 2026