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Research & education only — not financial advice.TENK is not a registered investment adviser; calls are impersonal, generated from SEC filings and a delayed/third-party price feed, and may be wrong or out of date. The operator and an affiliated trading operation may hold or trade the securities TENK rates — see Disclosures. Do your own research.

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TTENK/calls
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TTENK/calls
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Home›ULS›Financials
Annual statements · SEC XBRL · FY2022 – FY2025

UL Solutions Inc. (ULS) financials

Income statement

UL Solutions Inc. (ULS) income statement, annual, from SEC filings
Fiscal yearFY2022FY2023FY2024FY2025
Revenue$2.52B$2.68B$2.87B$3.05B
Revenue growth—6.3%7.2%6.4%
Operating income$412M$368M$462M$522M
Operating margin16.3%13.7%16.1%17.1%
Net income$293M$260M$326M$325M
Net margin11.6%9.7%11.4%10.6%
EPS (diluted)$1.47$1.30$1.62$1.60

Cash flow

UL Solutions Inc. (ULS) cash flow, annual, from SEC filings
Fiscal yearFY2022FY2023FY2024FY2025
Operating cash flow$372M$467M$524M$600M
Capital expenditures$164M$215M$237M$197M
Free cash flow$208M$252M$287M$403M
Dividends paid$1.60B$680M$100M$104M

Balance sheet

UL Solutions Inc. (ULS) balance sheet, annual, from SEC filings
Fiscal yearFY2022FY2023FY2024FY2025
Cash & equivalents$322M$315M$298M$295M
Total assets—$2.74B$2.80B$2.92B
Total liabilities—$2.06B$1.87B$1.63B
Long-term debt—$904M$692M$491M
Shareholders' equity$1.08B$654M$904M$1.26B
Retained earnings—$24.0M$250M$470M
Shares (wtd avg diluted)200M200M201M203M

Every figure is extracted from UL Solutions Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.

Common questions

What is UL Solutions Inc.'s annual revenue?
UL Solutions Inc. (ULS) reported $3.05B of revenue for fiscal year 2025 — up 6.4% from $2.87B in FY2024, per its annual report filed with the SEC.
Is UL Solutions Inc. profitable?
Yes — ULS earned $325M of net income in FY2025, a 10.6% net margin, per SEC filings.
What is UL Solutions Inc.'s free cash flow?
$403M in FY2025 (operating cash flow $600M minus $197M of capital expenditures), from the SEC cash-flow statement.
Does ULS pay a dividend?
Yes — UL Solutions Inc. paid $104M in cash dividends during FY2025, per its SEC cash-flow statement.
Full ULS analysis — verdict, score & filings →Is ULS a buy? →

Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.