UL Solutions (ULS) FCF Margin (2023 - 2026)
UL Solutions (ULS) recorded FCF Margin of 11.15% in Q2 2026, down 2.38 percentage points from 13.53% a year earlier and down 8.64 percentage points from the prior quarter.
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Analysis
UL Solutions (ULS) FCF Margin (2023 - 2026) Analysis & Trends
On a TTM basis, UL Solutions' FCF Margin came in at 13.86% as of Jun 30, 2026, up 1.52 percentage points year-over-year; for FY2025, it came in at 13.20%, up 3.20 percentage points from FY2024.
- Annual FCF Margin has increased for three straight years, with a three-year change of +4.95 percentage points (FY2022 to FY2025).
- Across earlier years, FCF Margin came in at 10.00% in FY2024 (+0.59 pp), 9.41% in FY2023 (+1.16 pp) and 8.25% in FY2022.
- Quarterly FCF Margin has ranged from 1.31% in Q2 2023 to 19.79% in Q1 2026 over the past five years.
- On a year-over-year basis, FCF Margin rose in five of the last eight quarters, with an average year-over-year change of +1.93 percentage points.
- Peak year-over-year performance for FCF Margin in the last five years was a gain of 7.09 percentage points in Q2 2025, against a drop of 3.04 percentage points in Q1 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 19.79% (Q1 2026), 10.90% (Q4 2025) and 13.92% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Accenture | 118.39 Bn | 78.80 Bn | 6.13 Bn | 19.23% |
| 2 | Cintas | 79.13 Bn | 78.31 Bn | 1.48 Bn | 21.10% |
| 3 | Iron Mountain | 33.17 Bn | 32.69 Bn | 1.07 Bn | -1.92% |
| 4 | APi | 16.75 Bn | 13.79 Bn | 703.00 Mn | 2.31% |
| 5 | Rollins | 14.67 Bn | 14.22 Bn | 569.95 Mn | 15.40% |
| 6 | Aramark | 14.35 Bn | 12.37 Bn | 430.34 Mn | 0.10% |
| 7 | UL Solutions | 13.11 Bn | 11.89 Bn | 417.00 Mn | 11.15% |
| 8 | Gartner | 11.73 Bn | 5.42 Bn | 1.19 Bn | 22.58% |
| 9 | Rentokil Initial | 10.12 Bn | 3.46 Bn | - | - |
| 10 | Tetra Tech | 8.63 Bn | 7.74 Bn | 243.21 Mn | 17.20% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 11.15% |
| Mar 31, 2026 | 19.79% |
| Dec 31, 2025 | 10.90% |
| Sep 30, 2025 | 13.92% |
| Jun 30, 2025 | 13.53% |
| Mar 31, 2025 | 14.61% |
| Dec 31, 2024 | 9.74% |
| Sep 30, 2024 | 11.49% |
| Jun 30, 2024 | 6.44% |
| Mar 31, 2024 | 12.54% |
| Dec 31, 2023 | 9.80% |
| Sep 30, 2023 | 11.54% |
| Jun 30, 2023 | 1.31% |
| Mar 31, 2023 | 15.58% |
API Access
UL Solutions FCF Margin 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=fcf-margin&ticker=ULS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "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=fcf-margin&ticker=ULS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();