UL Solutions (ULS) Capital Expenditures (2023 - 2026)
UL Solutions (ULS) recorded Capital Expenditures of $69 million in Q2 2026, up 64.3% from $42 million a year earlier and unchanged from the prior quarter.
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Analysis
UL Solutions (ULS) Capital Expenditures (2023 - 2026) Analysis & Trends
On a TTM basis, UL Solutions' Capital Expenditures came in at $242 million as of Jun 30, 2026, up 11.5% year-over-year; for FY2025, it was $197 million, down 16.9% from FY2024.
- Annual Capital Expenditures has a three-year compound annual growth rate of 6.3% (FY2022 to FY2025).
- Across earlier years, Capital Expenditures came in at $237 million in FY2024 (+10.2%), $215 million in FY2023 (+31.1%) and $164 million in FY2022.
- On a year-over-year basis, Capital Expenditures rose in three of the last eight quarters, with growth averaging 10.7%.
- Peak year-over-year performance for Capital Expenditures in the last five years was growth of 64.3% in Q2 2026, against a decline of 30.3% in Q3 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at $69 million (Q1 2026), $58 million (Q4 2025) and $46 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Capex (Qtr) |
|---|---|---|---|---|---|
| 1 | Accenture | 118.39 Bn | 78.80 Bn | 6.13 Bn | 186.22 Mn |
| 2 | Cintas | 79.13 Bn | 78.31 Bn | 1.48 Bn | 96.00 Mn |
| 3 | Iron Mountain | 33.17 Bn | 32.69 Bn | 1.07 Bn | 588.19 Mn |
| 4 | APi | 16.75 Bn | 13.79 Bn | 703.00 Mn | 31.00 Mn |
| 5 | Rollins | 14.67 Bn | 14.22 Bn | 569.95 Mn | 6.43 Mn |
| 6 | Aramark | 14.35 Bn | 12.37 Bn | 430.34 Mn | 112.37 Mn |
| 7 | UL Solutions | 13.11 Bn | 11.89 Bn | 417.00 Mn | 69.00 Mn |
| 8 | Gartner | 11.73 Bn | 5.42 Bn | 1.19 Bn | 19.92 Mn |
| 9 | Rentokil Initial | 10.12 Bn | 3.46 Bn | - | - |
| 10 | Tetra Tech | 8.63 Bn | 7.74 Bn | 243.21 Mn | 3.81 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 69.00 Mn |
| Mar 31, 2026 | 69.00 Mn |
| Dec 31, 2025 | 58.00 Mn |
| Sep 30, 2025 | 46.00 Mn |
| Jun 30, 2025 | 42.00 Mn |
| Mar 31, 2025 | 51.00 Mn |
| Dec 31, 2024 | 58.00 Mn |
| Sep 30, 2024 | 66.00 Mn |
| Jun 30, 2024 | 56.00 Mn |
| Mar 31, 2024 | 57.00 Mn |
| Dec 31, 2023 | 59.00 Mn |
| Sep 30, 2023 | 43.00 Mn |
| Jun 30, 2023 | 50.00 Mn |
| Mar 31, 2023 | 63.00 Mn |
API Access
UL Solutions Capital Expenditures API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=capital-expenditures&ticker=ULS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "capital-expenditures", "ticker": "ULS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=capital-expenditures&ticker=ULS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();