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UL Solutions Inc. (ULS)


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Upturn Advisory Summary
10/15/2025: ULS (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $71.77
1 Year Target Price $71.77
4 | Strong Buy |
2 | Buy |
4 | Hold |
1 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -7.11% | Avg. Invested days 25 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Large-Cap Stock | Market Capitalization 15.35B USD | Price to earnings Ratio 47.18 | 1Y Target Price 71.77 |
Price to earnings Ratio 47.18 | 1Y Target Price 71.77 | ||
Volume (30-day avg) 11 | Beta - | 52 Weeks Range 48.23 - 79.05 | Updated Date 10/17/2025 |
52 Weeks Range 48.23 - 79.05 | Updated Date 10/17/2025 | ||
Dividends yield (FY) 0.66% | Basic EPS (TTM) 1.62 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Revenue by Geography
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 11.08% | Operating Margin (TTM) 17.78% |
Management Effectiveness
Return on Assets (TTM) 10.77% | Return on Equity (TTM) 36.55% |
Valuation
Trailing PE 47.18 | Forward PE 36.23 | Enterprise Value 14906163481 | Price to Sales(TTM) 5.2 |
Enterprise Value 14906163481 | Price to Sales(TTM) 5.2 | ||
Enterprise Value to Revenue 5.05 | Enterprise Value to EBITDA 22.69 | Shares Outstanding 62752788 | Shares Floating 61887969 |
Shares Outstanding 62752788 | Shares Floating 61887969 | ||
Percent Insiders 1.33 | Percent Institutions 109.56 |
Upturn AI SWOT
UL Solutions Inc.
Company Overview
History and Background
UL Solutions Inc. (UL) has a rich history dating back to 1894 when William Henry Merrill founded Underwriters' Electrical Bureau, later known as Underwriters Laboratories. Initially focused on fire prevention, it expanded to product safety testing and certification. UL Solutions has evolved into a global leader in applied safety science.
Core Business Areas
- Testing and Certification: Provides testing, inspection, and certification services to manufacturers and retailers across various industries, ensuring products meet safety and performance standards.
- Software and Advisory: Offers software solutions and advisory services to help companies manage risk, improve compliance, and enhance sustainability.
- Enterprise Solutions: Delivers tailored solutions to address specific client needs, including supply chain management and regulatory compliance.
Leadership and Structure
UL Solutions is led by Jennifer Scanlon (President and CEO). The company has a global organizational structure with regional operations and business units focused on specific industries and services.
Top Products and Market Share
Key Offerings
- Product Safety Testing: Tests products to ensure they meet safety standards. Market share is significant but varies regionally. Competitors include Intertek and SGS. UL holds a strong market position, especially in North America, but exact market share data is proprietary. Revenue from this segment is significant, influencing overall company revenue.
- Performance Testing: Evaluates product performance against industry benchmarks. Competitors include Bureau Veritas and TUV Rheinland. Exact market share data is proprietary, but it plays a crucial role in UL's business portfolio. Performance testing offers considerable revenue stream and adds to UL's financial robustness.
- Certification Services: Provides certification marks that indicate products meet established standards. These marks have high brand recognition. Competitors include CSA Group and BSI Group. The certifications are a significant part of UL's revenue.
Market Dynamics
Industry Overview
The testing, inspection, and certification (TIC) industry is driven by globalization, increasing regulatory requirements, and consumer demand for safe and high-quality products. The industry is competitive with several global and regional players.
Positioning
UL Solutions is a well-established leader in the TIC industry, known for its strong brand reputation, comprehensive service offerings, and global reach. UL has a strong foothold, particularly in North America. Its size and brand recognition give it a competitive edge.
Total Addressable Market (TAM)
The global TIC market is estimated to be in the hundreds of billions of dollars, with projections for continued growth. UL Solutions' position allows it to capture a significant portion of this TAM. It is positioned to continue expanding its market coverage.
Upturn SWOT Analysis
Strengths
- Strong Brand Reputation
- Global Presence
- Comprehensive Service Portfolio
- Established Relationships with Regulatory Bodies
- Expertise in Safety Science
Weaknesses
- Potential Bureaucracy Due to Size
- Dependence on Regulatory Changes
- Exposure to Economic Downturns
- Digital transformation lagging behind
Opportunities
- Expansion into Emerging Markets
- Development of New Service Offerings
- Leveraging Digital Technologies
- Growing demand for sustainability testing
Threats
- Increased Competition
- Changing Regulatory Landscape
- Economic Volatility
- Disruptive Technologies
Competitors and Market Share
Key Competitors
- Intertek Group (ITRK.L)
- SGS SA (SGSN.SW)
- Bureau Veritas (BVI.PA)
Competitive Landscape
UL Solutions benefits from a strong brand, but faces competition from other major TIC providers like Intertek, SGS, and Bureau Veritas. UL's key advantage is its long history and reputation for safety, though it must continue to innovate to stay ahead of competitors in emerging fields.
Major Acquisitions
FutureSafe
- Year: 2023
- Acquisition Price (USD millions): 60
- Strategic Rationale: Expanded UL's capabilities in cybersecurity testing and certification.
Growth Trajectory and Initiatives
Historical Growth: Cannot be provided without financial data.
Future Projections: Cannot be provided without financial data. Future growth will likely be tied to key global trends and regional regulatory shifts.
Recent Initiatives: Recent initiatives likely include digital transformation efforts, expansion into sustainable testing and certification, and investments in emerging markets.
Summary
UL Solutions is a global leader in safety science, with a strong brand and comprehensive service portfolio. Its extensive reach and brand recognition are major strengths. The company needs to continue to innovate and adapt to changing regulatory and technological landscapes. It should also capitalize on growing demand for services, such as cybersecurity and sustainability testing.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Website
- Industry Reports
- Financial News Articles
- Competitor Websites
Disclaimers:
The information provided is based on publicly available data and best estimates. Market share data is approximate. Financial data is not available for UL Solutions directly as a private company.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About UL Solutions Inc.
Exchange NYSE | Headquaters Northbrook, IL, United States | ||
IPO Launch date 2024-04-12 | President, CEO & Director Ms. Jennifer F. Scanlon | ||
Sector Industrials | Industry Specialty Business Services | Full time employees 14813 | Website https://www.ul.com |
Full time employees 14813 | Website https://www.ul.com |
UL Solutions Inc., together with its subsidiaries, provides testing, inspection and certification, and related software and advisory services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building and asset owners, end users, and regulators. The Consumer segment offers safety certification testing, ongoing certification, global market access, testing for connectivity, performance and quality, and critical systems advisory and training services, as well as product market acceptance and risk mitigation services for customers in the consumer products end markets comprising consumer electronics, medical devices, information technologies, appliances, HVAC, lighting, and retail, as well as consumer applications, such as new mobility, smart products, and 5G. The Software and Advisory segment provide software and technical advisory services that enable customers to manage regulatory requirements, deliver supply chain transparency, and operationalize sustainability. It offers ULTRUS, a software that helps customers meet regulatory, supply chain, and sustainability challenges. UL Solutions Inc. was formerly known as UL Inc. and changed its name to UL Solutions Inc. in June 2022. The company was founded in 1894 and is headquartered in Northbrook, Illinois. UL Solutions Inc. is a subsidiary of ULSE Inc.

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