Reading the tape
NYSE: ULS
UL Solutions Inc.
Industrials · Specialty Business Services
Market Cap
$20.17B
52w High
$101.80
52w Low
$60.00
P/E
57.81
Volume
225.12K
Outstanding Shares
201.00M
Price vs Fundamentals
Why The Stock Is Moving
Optimism is getting priced inHigh confidence
1Y Price: 50.27%Revenue (TTM): 6.92%FCF (TTM): 47.06%P/FCF: 100th pct
What changed
The stock rose 50.27% over the last year. Revenue grew 6.92% over the trailing twelve months. Operating margin moved from 16.52% to 17.75%. Free cash flow grew 47.06% over the trailing twelve months.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/FCF range (100th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at 17.75% — continued expansion would be needed to justify the premium. Revenue growth of 6.92% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Company profile
UL Solutions Inc. provides safety science services worldwide.
CEOJennifer F. Scanlon
SectorIndustrials
IndustrySpecialty Business Services
Employees14,813
IPO dateJul 15, 2014
Valuation
Forward P/E—
EV/EBITDA22.20
Enterprise value$16.39B
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Revenue growth7.52%
Gross margin49.61%▲2.03%vs FY2024
Operating margin17.75%▲6.29%vs FY2024
ROE25.12%▼30.35%vs FY2024
Analyst consensus
RatingBuy
Target price$89.40▼10.93%
4
Buy
4
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 5, 2026
Q2 FY26 · EPS est $0.42 · Revenue est $748.5M
View
Dividends
$0.54/shareQuarterlySafeULS pays a dividend with a 0.53% dividend yield, covered 3.9× by free cash flow.
Dividend Yield
0.53%
Annual Div / Share
$0.54
CAGR
—
Payout Ratio
30.66%
Safe
Dividend Growth Rate
Dividend Safety
10/10Safe
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2025$0.54+5.9%
2024$0.51—
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$5/yr
$0/mo
In 5 yrs
$5/yr
$0/mo
In 10 yrs
$5/yr
$0/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$5/yr $0/mo | $5/yr $0/mo | $5/yr $0/mo |
Analysis
Dividend Strengths
Well-covered by free cash flow
The dividend is covered 3.9× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Risks to Watch
No strong risk signal stands out from the latest period pair.