UL Solutions Inc. (ULS) — Financial statements
Income statement, balance sheet, and cash flow for UL Solutions Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 3,053↑6.4% | 2,870↑7.2% | 2,678↑6.3% | 2,520↑0.1% | 2,517 | |
| Cost of Revenue | 1,555↑4.4% | 1,490↑5.4% | 1,413↑7.6% | 1,313↓1.9% | 1,338 | |
| Gross Profit | 1,498↑8.5% | 1,380↑9.1% | 1,265↑4.8% | 1,207↑2.4% | 1,179 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00↓100.0% | 59 | 0.00 | 0.00 | 0.00 | |
| General & Administrative Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Selling & Marketing Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| SG&A Expenses | 975↑6.3% | 918↑6.7% | 860↑8.2% | 795↓10.9% | 892 | |
| Other Expenses | 0.00↑100.0% | -59 | 0.00 | 0.00 | 0.00 | |
| Operating Expenses | 975↑6.3% | 918↑6.7% | 860↑8.2% | 795↓10.9% | 892 | |
| Total Costs & Expenses | 2,531↑5.1% | 2,408↑5.9% | 2,273↑7.8% | 2,108↓5.5% | 2,230 | |
| Operating Results | ||||||
| Operating Income | 522↑13.1% | 462↑14.1% | 405↓1.7% | 412↑43.6% | 287 | |
| Depreciation & Amortization | 236↑37.0% | 172↑11.7% | 154↑14.1% | 135↓4.9% | 142 | |
| EBITDA | 738↑15.0% | 642↑20.0% | 535↑0.0% | 535↑28.3% | 417 | |
| EBIT | 503↑7.0% | 470↑23.4% | 381↓4.8% | 400↑45.5% | 275 | |
| Interest & Other Income | ||||||
| Net Interest Income | -38↑25.5% | -51↓121.7% | -23↓35.3% | -17↓1600.0% | -1 | |
| Interest Income | 3↓25.0% | 4↓66.7% | 12 | 0.00 | 0.00 | |
| Interest Expense | 41↓25.5% | 55↑57.1% | 35↑105.9% | 17↑1600.0% | 1 | |
| Non-Operating Income | 20↑345.6% | -8↓133.3% | 24↑100.0% | 12↑0.0% | 12 | |
| Other Income / Expenses | -61↓29.0% | -47↑20.3% | -59↓103.4% | -29↓123.1% | -13 | |
| Income Before Tax | 462↑11.3% | 415↑19.9% | 346↓9.7% | 383↑39.8% | 274 | |
| Income Tax Expense | 117↑66.7% | 70↑0.0% | 70↓5.4% | 74↑105.6% | 36 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 345↑0.0% | 345↑25.0% | 276↓10.7% | 309↑29.8% | 238 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 325↓0.3% | 326↑25.4% | 260↓11.3% | 293↑30.8% | 224 | |
| Bottom-Line Net Income | 325↓0.3% | 326↑25.4% | 260↓11.3% | 293↑30.8% | 224 | |
| EPS (Basic) | 1.62↓0.6% | 1.63↑25.4% | 1.30↓11.6% | 1.47↑31.2% | 1.12 | |
| EPS (Diluted) | 1.60↓1.2% | 1.62↑24.6% | 1.30↓11.6% | 1.47↑31.2% | 1.12 | |
| Weighted Average Shares | 201↑0.5% | 200↑0.0% | 200↑0.0% | 200↑0.0% | 200 | |
| Weighted Average Diluted Shares | 203↑1.0% | 201↑0.5% | 200↑0.0% | 200↑0.0% | 200 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.