UL Solutions (ULS) Gross Margin (2023 - 2026)
UL Solutions' Gross Margin came in at 51.10% for Q2 2026, up 1.88 percentage points from 49.23% a year earlier and up 0.84 percentage points from the prior quarter.
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Analysis
UL Solutions (ULS) Gross Margin (2023 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, UL Solutions reported Gross Margin of 50.35%, up 1.93 percentage points year-over-year; for FY2025, it was 49.46%, up 0.96 percentage points from FY2024.
- Gross Margin has increased in each of the last three years, with a three-year change of +1.56 percentage points (FY2022 to FY2025).
- Going back by year, Gross Margin was 48.50% in FY2024 (+0.56 pp), 47.95% in FY2023 (+0.05 pp) and 47.90% in FY2022.
- The Q2 2026 figure represents the highest quarterly Gross Margin in data going back to Q1 2023.
- Year-over-year, Gross Margin has increased for four consecutive quarters, with an average year-over-year change of +0.95 percentage points over the last eight quarters.
- The fastest year-over-year change in Gross Margin over five years came in Q4 2025 (a gain of 2.46 percentage points), and the weakest in Q2 2025 (a drop of 0.91 percentage points).
- Business Quant data shows ULS's Gross Margin at 50.26% (Q1 2026), 49.68% (Q4 2025) and 50.32% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Accenture | 118.39 Bn | 78.80 Bn | 6.13 Bn | 32.77% |
| 2 | Cintas | 79.13 Bn | 78.31 Bn | 1.48 Bn | 50.95% |
| 3 | Iron Mountain | 33.17 Bn | 32.69 Bn | 1.07 Bn | 52.76% |
| 4 | APi | 16.75 Bn | 13.79 Bn | 703.00 Mn | 31.19% |
| 5 | Rollins | 14.67 Bn | 14.22 Bn | 569.95 Mn | 52.84% |
| 6 | Aramark | 14.35 Bn | 12.37 Bn | 430.34 Mn | 8.51% |
| 7 | UL Solutions | 13.11 Bn | 11.89 Bn | 417.00 Mn | 51.10% |
| 8 | Gartner | 11.73 Bn | 5.42 Bn | 1.19 Bn | 70.95% |
| 9 | Rentokil Initial | 10.12 Bn | 3.46 Bn | - | - |
| 10 | Tetra Tech | 8.63 Bn | 7.74 Bn | 243.21 Mn | 18.59% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 51.10% |
| Mar 31, 2026 | 50.26% |
| Dec 31, 2025 | 49.68% |
| Sep 30, 2025 | 50.32% |
| Jun 30, 2025 | 49.23% |
| Mar 31, 2025 | 48.23% |
| Dec 31, 2024 | 47.23% |
| Sep 30, 2024 | 48.97% |
| Jun 30, 2024 | 50.14% |
| Mar 31, 2024 | 47.61% |
| Dec 31, 2023 | 46.93% |
| Sep 30, 2023 | 49.11% |
| Jun 30, 2023 | 48.91% |
| Mar 31, 2023 | 46.74% |
API Access
UL Solutions Gross 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=gross-margin&ticker=ULS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-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=gross-margin&ticker=ULS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();