UL Solutions Inc.
Description
UL Solutions Inc. provides safety science 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 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 software brand to help customers improve speed to market, sustainability and safety. 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.
About
CEO
Ms. Jennifer F. Scanlon
Employees
14,892
Instrument type
Common Stock
Sector
Industrials
Industry
Specialty Business Services
MIC code
XNYS
Address
333 Pfingsten Road, Northbrook, IL 60062-2096, United States
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Oscillators
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Summary
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Moving Averages
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Nov 5, 2024 | 0.39 | 0.44 | 0.05 | 12.82% |
| Jul 31, 2024 | 0.39 | 0.50 | 0.11 | 28.21% |
| May 20, 2024 | 0.28 | 0.28 | 0.00 | 0.00% |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 6 | — | 10 |
| Average estimate | — | 0.32 | — | 1.70 |
| Low estimate | — | 0.30 | — | 1.65 |
| High estimate | — | 0.38 | — | 1.80 |
| Last year EPS | — | 0.28 | — | 1.59 |
[stock_revenue_estimate]
Growth estimates
Current qtr
—
Next qtr. (Mar 2025)
15.160%
Current year
—
Next year (Dec 2025)
7.150%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 2.68B | 2.52B | 2.52B | — | — |
| Cost of revenue | 1.40B | 1.31B | 1.34B | — | — |
| Gross profit | 1.28B | 1.21B | 1.18B | — | — |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 883.00M | 808.00M | 911.00M | 690.00M | 722.00M |
| Other operating expenses | — | — | — | — | — |
| Operating income | 397.00M | 399.00M | 268.00M | 341.00M | 313.00M |
| Non operating interest income | |||||
| Income | 12.00M | 1.00M | 7.00M | — | — |
| Expense | 35.00M | 17.00M | 1.00M | — | — |
| Other income expense | -28.00M | -12.00M | -12.00M | -7.00M | 7.00M |
| Pretax income | 346.00M | 383.00M | 274.00M | — | — |
| Tax provision | 70.00M | 74.00M | 36.00M | — | — |
| Net income | 276.00M | 309.00M | 238.00M | — | — |
| Basic EPS | 1.30 | 1.47 | 1.12 | 1.16 | 1.23 |
| Diluted EPS | 1.30 | 1.47 | 1.12 | 1.16 | 1.23 |
| Basic average shares | 200.00M | 200.00M | 200.00M | 200.00M | 200.00M |
| Diluted average shares | 200.00M | 200.00M | 200.00M | 200.00M | 200.00M |
| EBITDA | 567.00M | 542.00M | 430.00M | — | — |
| Net income from continuing op. | 276.00M | 309.00M | 238.00M | — | — |
| Minority interests | -16.00M | -16.00M | -14.00M | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 2.74B | 2.72B | 3.66B |
| Current assets | |||
| Cash | — | — | — |
| Cash equivalents | — | — | — |
| Cash and cash equivalents | 315.00M | 322.00M | 1.33B |
| Other short term investments | — | 51.00M | 47.00M |
| Accounts receivable | 362.00M | 376.00M | 368.00M |
| Other receivables | 179.00M | 171.00M | 189.00M |
| Inventory | — | — | — |
| Prepaid assets | 35.00M | 33.00M | 61.00M |
| Restricted cash | — | — | — |
| Assets held for sale | — | — | — |
| Hedging assets | — | — | — |
| Other current assets | 13.00M | 5.00M | 6.00M |
| Non current assets | |||
| Properties | 151.00M | 156.00M | 151.00M |
| Land and improvements | 42.00M | 38.00M | 31.00M |
| Machinery furniture equipment | 714.00M | 687.00M | 663.00M |
| Construction in progress | — | — | — |
| Leases | 172.00M | 141.00M | 129.00M |
| Accumulated depreciation | -737.00M | -732.00M | -722.00M |
| Goodwill | 1.46B | 1.49B | 1.44B |
| Investment properties | — | — | — |
| Financial assets | — | — | — |
| Intangible assets | 211.00M | 200.00M | 196.00M |
| Investments and advances | 64.00M | 62.00M | 44.00M |
| Other non current assets | 179.00M | 176.00M | 200.00M |
| Total liabilities | 2.06B | 1.64B | 1.33B |
| Current liabilities | |||
| Accounts payable | 169.00M | 153.00M | 179.00M |
| Accrued expenses | — | — | 29.00M |
| Short term debt | 39.00M | 42.00M | 36.00M |
| Deferred revenue | 162.00M | 142.00M | 135.00M |
| Tax payable | — | — | 29.00M |
| Pensions | 281.00M | 311.00M | 383.00M |
| Other current liabilities | 58.00M | 46.00M | 59.00M |
| Non current liabilities | |||
| Long term debt | 1.02B | 618.00M | 118.00M |
| Provision for risks and charges | — | — | — |
| Deferred liabilities | — | — | 15.00M |
| Derivative product liabilities | — | — | — |
| Other non current liabilities | 93.00M | 85.00M | 84.00M |
| Shareholders equity | |||
| Common stock | — | — | — |
| Retained earnings | 24.00M | 211.00M | 1.52B |
| Other shareholders equity | -146.00M | -166.00M | -216.00M |
| Total shareholders equity | 678.00M | 1.08B | 2.33B |
| Additional paid in capital | 776.00M | 1.01B | 1.01B |
| Treasury stock | — | — | — |
| Minority interest | 24.00M | 23.00M | 21.00M |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 276.00M | 309.00M | 238.00M | — | — |
| Depreciation | 154.00M | 135.00M | 142.00M | — | — |
| Deferred Taxes | 11.00M | 10.00M | -70.00M | — | — |
| Stock-Based Compensation | — | — | — | — | — |
| Other Non-Cash Items | 9.00M | 26.00M | 4.00M | — | — |
| Accounts Receivable | -27.00M | -27.00M | -14.00M | — | — |
| Accounts Payable | 1.00M | -18.00M | 30.00M | — | — |
| Other Assets & Liabilities | 36.00M | 22.00M | 2.00M | — | — |
| Operating Cash Flow | 460.00M | 457.00M | 332.00M | — | — |
| Investing Activities | |||||
| Capital Expenditures | — | — | — | — | — |
| Net Intangibles | — | — | — | — | — |
| Net Acquisitions | -18.00M | -66.00M | -47.00M | — | — |
| Purchase of Investments | -95.00M | -162.00M | -172.00M | — | — |
| Sale of Investments | 144.00M | 155.00M | 495.00M | — | — |
| Investing Cash Flow | 40.00M | -74.00M | 285.00M | — | — |
| Financing Activities | |||||
| Long-Term Debt Issuance | 440.00M | 700.00M | — | — | — |
| Long-Term Debt Payments | -30.00M | -200.00M | — | — | — |
| Other Financing Charges | -24.00M | -16.00M | -28.00M | — | — |
| Financing Cash Flow | -294.00M | -1.12B | -228.00M | — | — |
| Other Cash Details | |||||
| End Cash Position | 315.00M | 322.00M | 1.33B | — | — |
| Income Tax Paid | 57.00M | 68.00M | 132.00M | — | — |
| Interest Paid | 32.00M | 17.00M | 1.00M | — | — |
| Free Cash Flow | 252.00M | 208.00M | 314.00M | — | — |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| New Perspective Fund Inc | Sep 30, 2024 | 3,662,019 | 199.38M | 5.91% |
| Capital Income Builder, Inc. | Oct 31, 2024 | 3,590,800 | 195.50M | 5.79% |
| Smallcap World Fund | Sep 30, 2024 | 3,333,700 | 181.50M | 5.38% |
| JP Morgan Mid Cap Value Fund | Sep 30, 2024 | 2,371,286 | 129.10M | 3.83% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 1,867,942 | 101.70M | 3.01% |
| Vanguard Small-Cap Index Fund | Sep 30, 2024 | 1,472,912 | 80.19M | 2.38% |
| Janus Henderson Enterprise Fund | Sep 30, 2024 | 1,018,815 | 55.47M | 1.64% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 880,502 | 47.94M | 1.42% |
| Price (T.Rowe) Mid Cap Growth Fund | Sep 30, 2024 | 861,516 | 46.91M | 1.39% |
| Vanguard Small-Cap Growth Index Fund | Sep 30, 2024 | 812,688 | 44.25M | 1.31% |
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