UL Solutions Inc. (ULS) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	3.1B	3.1B	2.9B	2.7B	2.5B
Cost of Revenue	1.6B	1.6B	1.5B	1.4B	1.3B
Gross Profit	1.6B	1.5B	1.4B	1.3B	1.2B
Operating Expenses
R&D Expense	—	—	59.0M	—	—
SG&A Expense	1.0B	975.5M	918.0M	860.0M	795.0M
General & Admin Expense	—	—	—	—	—
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	—	—	(59.0M)	—	—
Total Operating Expenses	1.0B	975.5M	918.0M	860.0M	795.0M
Cost and Expenses	2.6B	2.5B	2.4B	2.3B	2.1B
Operating Income (EBIT)	562.4M	522.4M	462.0M	405.0M	412.0M
Non-Operating
Interest Income	2.0M	3.0M	4.0M	12.0M	—
Interest Expense	32.0M	41.0M	55.0M	35.0M	17.0M
Net Interest Income	(30.0M)	(38.0M)	(51.0M)	(23.0M)	(17.0M)
Other Non-Op Income/Expense	147.3M	(60.6M)	(47.0M)	(59.0M)	(29.0M)
Non-Operating Income (excl Interest)	(178.3M)	19.6M	(8.0M)	24.0M	12.0M
EBT (Pre-Tax Income)	709.7M	461.7M	415.0M	346.0M	383.0M
Income Tax Expense	181.7M	116.7M	70.0M	70.0M	74.0M
Bottom Line
Net Income	504.0M	325.0M	326.0M	260.0M	293.0M
Earnings from Cont. Ops	528.0M	345.0M	345.0M	276.0M	309.0M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	504.0M	325.0M	326.0M	260.0M	293.0M
Per Share
Basic EPS	$2.51	$1.62	$1.63	$1.30	$1.47
Diluted EPS	$2.47	$1.60	$1.62	$1.30	$1.47
Revenue Per Share	$15.65	$15.19	$14.35	$13.39	$12.60
Shares
Basic Shares Outstanding	201.0M	201.0M	200.0M	200.0M	200.0M
Diluted Shares Outstanding	204.0M	203.0M	201.0M	200.0M	200.0M
Profitability Metrics
EBITDA	978.4M	738.4M	642.0M	535.0M	535.0M
D&A	237.7M	235.7M	172.0M	154.0M	135.0M
EBIT	740.7M	502.7M	470.0M	381.0M	400.0M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026