UL Solutions (ULS) Free Cash Flow (2023 - 2026)
UL Solutions (ULS) reported Free Cash Flow of $154 million for Q3 2026, up 41.3% from $109 million a year earlier and up 69.2% from the prior quarter.
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Analysis
UL Solutions (ULS) Free Cash Flow (2023 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, UL Solutions' Free Cash Flow came in at $481 million, up 23.7% year-over-year; for FY2025, it came in at $403 million, up 40.4% from FY2024.
- Free Cash Flow has increased for three consecutive years, with a three-year compound annual growth rate of 24.7% (FY2022 to FY2025).
- By year, Free Cash Flow came in at $287 million in FY2024 (+13.9%), $252 million in FY2023 (+21.2%) and $208 million in FY2022.
- The Q3 2026 figure ranks as the highest quarterly Free Cash Flow in data going back to Q1 2023.
- Year over year, Free Cash Flow gained in seven of the last eight quarters, with growth averaging 34.5%.
- The high point for year-over-year Free Cash Flow in five years was Q2 2024 (growth of 422.2%); the low point was Q1 2024 (a decline of 14.3%).
- Per Business Quant data, the three quarters before Q3 2026 came in at $91 million (Q2 2026), $150 million (Q1 2026) and $86 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF (Qtr) |
|---|---|---|---|---|---|
| 1 | Accenture | 153.56 Bn | 111.49 Bn | 5.98 Bn | 2.85 Bn |
| 2 | Cintas | 88.59 Bn | 87.67 Bn | 1.55 Bn | 464.80 Mn |
| 3 | Iron Mountain | 33.27 Bn | 32.47 Bn | 1.06 Bn | -302.18 Mn |
| 4 | APi | 18.49 Bn | 15.70 Bn | 770.00 Mn | 198.00 Mn |
| 5 | Rollins | 18.05 Bn | 17.59 Bn | 582.90 Mn | 235.50 Mn |
| 6 | UL Solutions | 16.33 Bn | 14.33 Bn | 423.00 Mn | 154.00 Mn |
| 7 | Aramark | 14.48 Bn | 12.43 Bn | 430.34 Mn | 4.82 Mn |
| 8 | Rentokil Initial | 11.94 Bn | 6.46 Bn | - | - |
| 9 | Gartner | 11.90 Bn | 5.39 Bn | 1.07 Bn | 275.16 Mn |
| 10 | Tetra Tech | 10.45 Bn | 9.56 Bn | 243.21 Mn | 225.13 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 154.00 Mn |
| Jun 30, 2026 | 91.00 Mn |
| Mar 31, 2026 | 150.00 Mn |
| Dec 31, 2025 | 86.00 Mn |
| Sep 30, 2025 | 109.00 Mn |
| Jun 30, 2025 | 105.00 Mn |
| Mar 31, 2025 | 103.00 Mn |
| Dec 31, 2024 | 72.00 Mn |
| Sep 30, 2024 | 84.00 Mn |
| Jun 30, 2024 | 47.00 Mn |
| Mar 31, 2024 | 84.00 Mn |
| Dec 31, 2023 | 67.00 Mn |
| Sep 30, 2023 | 78.00 Mn |
| Jun 30, 2023 | 9.00 Mn |
| Mar 31, 2023 | 98.00 Mn |
API Access
UL Solutions Free Cash Flow 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=free-cash-flow&ticker=ULS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "free-cash-flow", "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=free-cash-flow&ticker=ULS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();