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UL Solutions is a global leader specializing in a broad range of product testing, inspection, and certification services. UL Solutions is the for-profit branch out of three organizations under the UL Enterprise. TIC operations make up nearly all of UL Solutions’ total revenue and are composed of two segments: industrial and consumer. UL Solutions’ remaining business includes software and advisory, which complements its core TIC offerings. The firm operates globally.
2008
15.1K+
LTM Revenue $2.9B
LTM EBITDA $677M
$12.1B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
UL Solutions has a last 12-month revenue of $2.9B and a last 12-month EBITDA of $677M.
In the most recent fiscal year, UL Solutions achieved revenue of $2.9B and an EBITDA of $642M.
UL Solutions expects next 12-month revenue of XXX and NTM EBITDA of XXX
See UL Solutions valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $2.7B | $2.9B | XXX | XXX | XXX |
| Gross Profit | $1.2B | $1.3B | XXX | XXX | XXX |
| Gross Margin | 45% | 45% | XXX | XXX | XXX |
| EBITDA | $535M | $642M | XXX | XXX | XXX |
| EBITDA Margin | 20% | 22% | XXX | XXX | XXX |
| Net Profit | $293M | $260M | XXX | XXX | XXX |
| Net Margin | 11% | 9% | XXX | XXX | XXX |
| Net Debt | $177M | $589M | XXX | XXX | XXX |
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As of April 15, 2025, UL Solutions's stock price is $57.
UL Solutions has current market cap of $11.5B, and EV of $12.1B.
See UL Solutions trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $12.1B | $11.5B | XXX | XXX | XXX | XXX | $1.70 |
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Sign UpAs of April 15, 2025, UL Solutions has market cap of $11.5B and EV of $12.1B.
UL Solutions's trades at 4.2x LTM EV/Revenue multiple, and 18.0x LTM EBITDA.
Analysts estimate UL Solutions's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for UL Solutions and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $12.1B | XXX | XXX | XXX |
| EV/Revenue | 4.2x | XXX | XXX | XXX |
| EV/EBITDA | 18.9x | XXX | XXX | XXX |
| P/E | 35.3x | XXX | XXX | XXX |
| P/E/Growth | 5.3x | XXX | XXX | XXX |
| EV/FCF | 42.3x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpUL Solutions's NTM/LTM revenue growth is 6%
UL Solutions's revenue per employee for the last fiscal year averaged $0.2M, while opex per employee averaged $0.1M for the same period.
Over next 12 months, UL Solutions's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate UL Solutions's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for UL Solutions and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 7% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 22% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 20% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 28% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.2M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.1M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 32% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Count | XXX | XXX | XXX | XXX | XXX | XXX |
| Kelly Partners Group | XXX | XXX | XXX | XXX | XXX | XXX |
| WT Financial Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Aallon Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Administer | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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UL Solutions acquired XXX companies to date.
Last acquisition by UL Solutions was XXXXXXXX, XXXXX XXXXX XXXXXX . UL Solutions acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was UL Solutions founded? | UL Solutions was founded in 2008. |
| Where is UL Solutions headquartered? | UL Solutions is headquartered in United States of America. |
| How many employees does UL Solutions have? | As of today, UL Solutions has 15.1K+ employees. |
| Who is the CEO of UL Solutions? | UL Solutions's CEO is Ms. Jennifer F. Scanlon. |
| Is UL Solutions publicy listed? | Yes, UL Solutions is a public company listed on NYS. |
| What is the stock symbol of UL Solutions? | UL Solutions trades under ULS ticker. |
| When did UL Solutions go public? | UL Solutions went public in 2024. |
| Who are competitors of UL Solutions? | Similar companies to UL Solutions include e.g. Count, Kelly Partners Group, WT Financial Group, Aallon Group. |
| What is the current market cap of UL Solutions? | UL Solutions's current market cap is $11.5B |
| What is the current revenue of UL Solutions? | UL Solutions's last 12-month revenue is $2.9B. |
| What is the current EBITDA of UL Solutions? | UL Solutions's last 12-month EBITDA is $677M. |
| What is the current EV/Revenue multiple of UL Solutions? | Current revenue multiple of UL Solutions is 4.2x. |
| What is the current EV/EBITDA multiple of UL Solutions? | Current EBITDA multiple of UL Solutions is 18.0x. |
| What is the current revenue growth of UL Solutions? | UL Solutions revenue growth between 2023 and 2024 was 7%. |
| Is UL Solutions profitable? | Yes, UL Solutions is EBITDA-positive (as of the last 12 months). |
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