UL Solutions Inc.
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 m… Read more
UL Solutions Inc. (ULS) - Net Assets
Latest net assets as of September 2025: $1.22 Billion USD
Based on the latest financial reports, UL Solutions Inc. (ULS) has net assets worth $1.22 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($2.90 Billion) and total liabilities ($1.68 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.22 Billion |
| % of Total Assets | 42.1% |
| Annual Growth Rate | -19.99% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 35.43 |
UL Solutions Inc. - Net Assets Trend (2020–2024)
This chart illustrates how UL Solutions Inc.'s net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for UL Solutions Inc. (2020–2024)
The table below shows the annual net assets of UL Solutions Inc. from 2020 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $931.00 Million | +37.32% |
| 2023-12-31 | $678.00 Million | -37.05% |
| 2022-12-31 | $1.08 Billion | -53.82% |
| 2021-12-31 | $2.33 Billion | +2.64% |
| 2020-12-31 | $2.27 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to UL Solutions Inc.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 83.3% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $250.00 Million | 27.65% |
| Common Stock | $200.00K | 0.02% |
| Other Comprehensive Income | $-167.00 Million | -18.47% |
| Other Components | $820.80 Million | 90.80% |
| Total Equity | $904.00 Million | 100.00% |
UL Solutions Inc. Competitors by Market Cap
The table below lists competitors of UL Solutions Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
NICE Ltd
PINK:NCSYF
|
$5.99 Billion |
|
Bank of Baroda
NSE:BANKBARODA
|
$5.99 Billion |
|
IndusInd Bank Limited
NSE:INDUSINDBK
|
$5.99 Billion |
|
GXO Logistics Inc
NYSE:GXO
|
$6.00 Billion |
|
AutoNation Inc
NYSE:AN
|
$5.97 Billion |
|
Genpact Limited
NYSE:G
|
$5.97 Billion |
|
Chord Energy Corp
NASDAQ:CHRD
|
$5.96 Billion |
|
GD Power Development Co Ltd
SHG:600795
|
$5.96 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in UL Solutions Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 654,000,000 to 904,000,000, a change of 250,000,000 (38.2%).
- Net income of 326,000,000 contributed positively to equity growth.
- Dividend payments of 100,000,000 reduced retained earnings.
- Other comprehensive income decreased equity by 21,000,000.
- Other factors increased equity by 45,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $326.00 Million | +36.06% |
| Dividends Paid | $100.00 Million | -11.06% |
| Other Comprehensive Income | $-21.00 Million | -2.32% |
| Other Changes | $45.00 Million | +4.98% |
| Total Change | $- | 38.23% |
Book Value vs Market Value Analysis
This analysis compares UL Solutions Inc.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 18.94x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has increased from 7.56x to 18.94x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-12-31 | $11.26 | $85.18 | x |
| 2021-12-31 | $11.56 | $85.18 | x |
| 2022-12-31 | $5.27 | $85.18 | x |
| 2023-12-31 | $3.27 | $85.18 | x |
| 2024-12-31 | $4.50 | $85.18 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently UL Solutions Inc. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 36.06%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 11.36%
- • Asset Turnover: 1.02x
- • Equity Multiplier: 3.10x
- Recent ROE (36.06%) is above the historical average (24.71%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | 10.26% | 10.04% | 0.65x | 1.58x | $5.80 Million |
| 2021 | 9.69% | 8.90% | 0.69x | 1.58x | $-7.10 Million |
| 2022 | 27.80% | 11.63% | 0.93x | 2.58x | $187.60 Million |
| 2023 | 39.76% | 9.71% | 0.98x | 4.18x | $194.60 Million |
| 2024 | 36.06% | 11.36% | 1.03x | 3.10x | $235.60 Million |
Industry Comparison
This section compares UL Solutions Inc.'s net assets metrics with peer companies in the Specialty Business Services industry.
Industry Context
- Industry: Specialty Business Services
- Average net assets among peers: $732,736,900
- Average return on equity (ROE) among peers: 13.48%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| UL Solutions Inc. (ULS) | $1.22 Billion | 10.26% | 1.38x | $5.97 Billion |
| All American Pet Co (AAPT) | $-3.37 Million | 0.00% | 0.00x | $0.97 |
| ABM Industries Incorporated (ABM) | $71.20 Million | 6.88% | 1.14x | $2.27 Billion |
| ADM Endeavors Inc (ADMQ) | $779.30K | 48.16% | 0.85x | $3.87 Million |
| Amentum Holdings Inc. (AMTM) | $3.30 Billion | -2.56% | 0.28x | $4.17 Billion |
| Anacomp Inc (ANMP) | $-561.00K | 0.00% | 0.00x | $976.94K |
| Rich Sparkle Holdings Limited Ordinary Shares (ANPA) | $901.42K | 90.05% | 4.47x | $31.42 Million |
| Applus Services S.A (APLUF) | $642.95 Million | 7.56% | 2.78x | $16.82 Million |
| ARC Document Solutions Inc (ARC) | $155.72 Million | 5.29% | 0.99x | $110.98 Million |
| Aramark Holdings (ARMK) | $3.04 Billion | 18.68% | 3.51x | $10.51 Billion |
| Atento S.A. (ATTOF) | $119.09 Million | -39.30% | 8.96x | $945.48 |