UL Solutions (ULS) Cash from Operations (2023 - 2026)
UL Solutions (ULS) reported Cash from Operations of $215 million for Q3 2026, up 38.7% from $155 million a year earlier and up 34.4% from the prior quarter.
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Analysis
UL Solutions (ULS) Cash from Operations (2023 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, UL Solutions' Cash from Operations came in at $738 million, up 25.9% year-over-year; for FY2025, it came in at $600 million, up 14.5% from FY2024.
- Cash from Operations has increased for three consecutive years, with a three-year compound annual growth rate of 17.3% (FY2022 to FY2025).
- By year, Cash from Operations came in at $524 million in FY2024 (+12.2%), $467 million in FY2023 (+25.5%) and $372 million in FY2022.
- Five-year quarterly Cash from Operations spans a low of $59 million in Q2 2023 and a high of $219 million in Q1 2026.
- Year over year, Cash from Operations has now increased in each of the last ten quarters, with growth averaging 19.9% over the last eight quarters.
- The high point for year-over-year Cash from Operations in five years was Q2 2024 (growth of 74.6%); the low point was Q1 2024 (a decline of 12.4%).
- Per Business Quant data, the three quarters before Q3 2026 came in at $160 million (Q2 2026), $219 million (Q1 2026) and $144 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cash from Ops. (Qtr) |
|---|---|---|---|---|---|
| 1 | Accenture | 153.56 Bn | 111.49 Bn | 5.98 Bn | 3.10 Bn |
| 2 | Cintas | 88.59 Bn | 87.67 Bn | 1.55 Bn | 572.33 Mn |
| 3 | Iron Mountain | 33.27 Bn | 32.47 Bn | 1.06 Bn | 315.82 Mn |
| 4 | APi | 18.49 Bn | 15.70 Bn | 770.00 Mn | 225.00 Mn |
| 5 | Rollins | 18.05 Bn | 17.59 Bn | 582.90 Mn | 241.86 Mn |
| 6 | UL Solutions | 16.33 Bn | 14.33 Bn | 423.00 Mn | 215.00 Mn |
| 7 | Aramark | 14.48 Bn | 12.43 Bn | 430.34 Mn | 117.19 Mn |
| 8 | Rentokil Initial | 11.94 Bn | 6.46 Bn | - | - |
| 9 | Gartner | 11.90 Bn | 5.39 Bn | 1.07 Bn | 294.43 Mn |
| 10 | Tetra Tech | 10.45 Bn | 9.56 Bn | 243.21 Mn | 228.94 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 215.00 Mn |
| Jun 30, 2026 | 160.00 Mn |
| Mar 31, 2026 | 219.00 Mn |
| Dec 31, 2025 | 144.00 Mn |
| Sep 30, 2025 | 155.00 Mn |
| Jun 30, 2025 | 147.00 Mn |
| Mar 31, 2025 | 154.00 Mn |
| Dec 31, 2024 | 130.00 Mn |
| Sep 30, 2024 | 150.00 Mn |
| Jun 30, 2024 | 103.00 Mn |
| Mar 31, 2024 | 141.00 Mn |
| Dec 31, 2023 | 126.00 Mn |
| Sep 30, 2023 | 121.00 Mn |
| Jun 30, 2023 | 59.00 Mn |
| Mar 31, 2023 | 161.00 Mn |
API Access
UL Solutions Cash from Operations 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=cash-from-operations&ticker=ULS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cash-from-operations", "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=cash-from-operations&ticker=ULS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();