UL Solutions Inc. (ULS) - Net Assets
Based on the latest financial reports, UL Solutions Inc. (ULS) has net assets worth $1.34 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($2.96 Billion) and total liabilities ($1.62 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. Also explore UL Solutions Inc. asset portfolio for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.34 Billion |
| % of Total Assets | 45.21% |
| Annual Growth Rate | -10.65% |
| 5-Year Change | -44.51% |
| 10-Year Change | N/A |
| Growth Volatility | 37.84 |
UL Solutions Inc. - Net Assets Trend (2020–2025)
This chart illustrates how UL Solutions Inc.'s net assets have evolved over time, based on quarterly financial data. Check UL Solutions Inc. (ULS) tangible net worth to evaluate the tangible quality of the company's equity base.
Annual Net Assets for UL Solutions Inc. (2020–2025)
The table below shows the annual net assets of UL Solutions Inc. from 2020 to 2025. For live valuation and market cap data, see market value of UL Solutions Inc..
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.29 Billion | +38.99% |
| 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 68.5% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $470.00 Million | 36.32% |
| Common Stock | $62.70K | 0.00% |
| Other Components | $823.94 Million | 63.67% |
| Total Equity | $1.29 Billion | 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 |
|---|---|
|
Hancock Whitney Corp
NASDAQ:HWC
|
$6.15 Billion |
|
Gan & Lee Pharmaceuticals Co Ltd
SHG:603087
|
$6.15 Billion |
|
MSA Safety
NYSE:MSA
|
$6.16 Billion |
|
Technip Energies BV
PA:TE
|
$6.16 Billion |
|
thyssenkrupp AG
F:TKA1
|
$6.15 Billion |
|
Hubei Feilihua Quartz Glass Co Ltd
SHE:300395
|
$6.15 Billion |
|
Enact Holdings Inc
NASDAQ:ACT
|
$6.15 Billion |
|
Osisko Gold Ro
TO:OR
|
$6.15 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 2024 to 2025, total equity changed from 904,000,000 to 1,294,000,000, a change of 390,000,000 (43.1%).
- Net income of 325,000,000 contributed positively to equity growth.
- Dividend payments of 104,000,000 reduced retained earnings.
- Other comprehensive income increased equity by 167,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $325.00 Million | +25.12% |
| Dividends Paid | $104.00 Million | -8.04% |
| Other Comprehensive Income | $167.00 Million | +12.91% |
| Other Changes | $2.00 Million | +0.15% |
| Total Change | $- | 43.14% |
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: 12.40x
- 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 7.02x to 12.40x 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 | $79.05 | x |
| 2021-12-31 | $11.56 | $79.05 | x |
| 2022-12-31 | $5.27 | $79.05 | x |
| 2023-12-31 | $3.27 | $79.05 | x |
| 2024-12-31 | $4.50 | $79.05 | x |
| 2025-12-31 | $6.37 | $79.05 | 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): 25.12%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 10.65%
- • Asset Turnover: 1.05x
- • Equity Multiplier: 2.26x
- Recent ROE (25.12%) is above the historical average (24.78%), 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 |
| 2025 | 25.12% | 10.65% | 1.05x | 2.26x | $195.60 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: $1,070,275,379
- Average return on equity (ROE) among peers: 9.95%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| UL Solutions Inc. (ULS) | $1.34 Billion | 10.26% | 1.21x | $6.15 Billion |
| ABM Industries Incorporated (ABM) | $421.70 Million | 21.45% | 0.89x | $2.70 Billion |
| Amentum Holdings Inc. (AMTM) | $4.62 Billion | 1.43% | 1.48x | $5.71 Billion |
| Rich Sparkle Holdings Limited Ordinary Shares (ANPA) | $901.42K | 90.05% | 4.47x | $74.00 Million |
| Aramark Holdings (ARMK) | $2.47 Billion | 15.15% | 3.46x | $11.71 Billion |
| AZZ Incorporated (AZZ) | $853.46 Million | -6.21% | 1.60x | $4.41 Billion |
| Blacksky Technology Inc (BKSY) | $121.87 Million | -60.86% | 0.92x | $934.41 Million |
| BUUU Group Limited Class A Ordinary Share (BUUU) | $485.37K | 58.45% | 2.81x | $242.62 Million |
| BrightView Holdings (BV) | $206.46 Million | -30.59% | 0.59x | $987.92 Million |
| Cass Information Systems Inc (CASS) | $229.03 Million | 8.37% | 9.46x | $613.37 Million |
| CBIZ Inc (CBZ) | $1.78 Billion | 2.31% | 1.51x | $1.81 Billion |
About UL Solutions Inc.
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, engi… Read more