UL Solutions Inc. (ULS) Fair Value & Analysis
Industrials · US · Market cap $17.7B · ISIN US9037311076
What is UL Solutions Inc. really worth?
UL Solutions Inc.
ULS · US
A solid business, but trading 122% above our fair value of $33.62.
Strengths
Risks
For context
Fair value as of: Aug 30, 2026
From 26 valuation models · updated 6 days ago
Share price −4.7% over the past month.
What runs behind every stock
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What matters now
- A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case ($42.03). The favourable scenario is already priced in.
- A fairly wide model range ($21.95 to $42.03) leaves room in how you read the outcome.
Price vs Fair Value (2 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.
How to read this chart
29‑month range $32.95 – $104.74 · fair‑value band $21.95 – $42.03 · the $74.63 price screens above the $33.62 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.
Analysis
UL Solutions Inc. (ULS) currently trades at $74.63, while our model-based Fair Value estimate is $33.62, implying the stock looks roughly 122.0% overvalued today. The Quality Score stands at 72/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of $32.23 per share, and 0 of the 26 models we run sit above the $74.63 price. Bear case: the Asset-Based group reads lowest at $4.27, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, UL Solutions Inc. generated revenue of $3.1B at a net margin of 11.3%. Revenue grew 7.5% year over year. It earns a return on equity of 32.0%. Net debt stands at $537M. Fundamentals as of Aug 30, 2026
Our scenario range runs from $21.95 (bear case) to $42.03 (bull case); at $74.63, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 31% below its 52-week high and 22% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −17% fair-value upside, at −55%, ULS screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $0.7748 per share, which is 2.3 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: DCF Models ($32.23) versus Asset-Based ($4.27). Highest evidence: FCF DCF (79).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 70 · Market factors (momentum, volatility) 46
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
UL Solutions Inc., together with its subsidiaries, provides testing, inspection and certification services and related software and advisory services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory.
Full company description
UL Solutions Inc., together with its subsidiaries, provides testing, inspection and certification services 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 December 2021. The company was founded in 1894 and is headquartered in Northbrook, Illinois. UL Solutions Inc. operates as a subsidiary of ULSE Inc.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
UL Solutions Inc. reported revenue of $3.1B in FY2025 versus $2.5B in FY2021, a compound +4.9%/yr. Reported net income was $325M in FY2025, compounding +9.8%/yr from FY2021.
ULS screens 122% overvalued. Compare with Cintas Corporation →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Bright Horizons Family Solutions (BFAM) Rebounds On Earnings Focus, Is The Valuation Gap Still Compelling?
- BFAM vs. ULS: Which Stock Is the Better Value Option?
- UL Solutions (ULS) Expands Retail Push, Is The Stock A Bargain?
- UL Solutions Expands Capabilities in Italy to Create European Retail Center of Excellence Supporting Customers From Product Concept to Marke
Peer Group
Specialty Business Services · 248 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Specialty Business Services median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 46/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Cintas Corporation CTAS | $204.15 | $95.19 | −53% |
| RELX PLC RELX | $34.55 | $32.24 | −7% |
| Thomson Reuters Corporation TRI | C$142.85 | C$70.40 | −51% |
| Copart, Inc CPRT | $32.76 | $28.59 | −13% |
| Global Payments Inc GPN | $91.05 | $68.98 | −24% |
| RB Global, Inc RBA | C$119.68 | C$68.30 | −43% |
| Brambles Limited BXB | A$19.47 | A$17.27 | −11% |
| Wolters Kluwer N.V WKL | €68.88 | €101.27 | +47% |
| Aramark ARMK | $59.08 | $13.18 | −78% |
| Rentokil Initial plc RTO | $23.55 | $19.63 | −17% |
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