UL Solutions (ULS) Operating Margin (2023 - 2026)
UL Solutions (ULS) reported Operating Margin of 19.68% for Q3 2026, down 0.24 percentage points from 19.92% a year earlier but up 1.30 percentage points from the prior quarter.
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Analysis
UL Solutions (ULS) Operating Margin (2023 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, UL Solutions' Operating Margin came in at 17.83%, up 0.55 percentage points year-over-year; for FY2025, it came in at 17.10%, up 1.00 percentage points from FY2024.
- Operating Margin has a three-year change of +0.75 percentage points (FY2022 to FY2025).
- By year, Operating Margin came in at 16.10% in FY2024 (+2.36 pp), 13.74% in FY2023 (-2.61 pp) and 16.35% in FY2022.
- Five-year quarterly Operating Margin spans a low of 11.92% in Q1 2023 and a high of 19.92% in Q3 2025.
- Year over year, Operating Margin gained in six of the last eight quarters, with an average year-over-year change of +1.25 percentage points.
- The high point for year-over-year Operating Margin in five years was Q3 2024 (a gain of 4.62 percentage points); the low point was Q4 2025 (a drop of 0.61 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 18.38% (Q2 2026), 18.21% (Q1 2026) and 14.96% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Accenture | 172.92 Bn | 132.01 Bn | 5.98 Bn | 15.33% |
| 2 | Cintas | 90.00 Bn | 89.09 Bn | 1.55 Bn | 23.62% |
| 3 | Iron Mountain | 32.99 Bn | 32.50 Bn | 1.06 Bn | 20.63% |
| 4 | Rollins | 18.37 Bn | 17.91 Bn | 582.90 Mn | 20.45% |
| 5 | APi | 18.18 Bn | 15.39 Bn | 770.00 Mn | 7.91% |
| 6 | UL Solutions | 16.47 Bn | 14.51 Bn | 423.00 Mn | 19.68% |
| 7 | Aramark | 14.29 Bn | 12.30 Bn | 430.34 Mn | 4.26% |
| 8 | Rentokil Initial | 11.99 Bn | 5.51 Bn | - | - |
| 9 | Gartner | 11.92 Bn | 5.41 Bn | 1.07 Bn | 18.68% |
| 10 | Tetra Tech | 10.41 Bn | 9.52 Bn | 243.21 Mn | 12.07% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 19.68% |
| Jun 30, 2026 | 18.38% |
| Mar 31, 2026 | 18.21% |
| Dec 31, 2025 | 14.96% |
| Sep 30, 2025 | 19.92% |
| Jun 30, 2025 | 17.91% |
| Mar 31, 2025 | 15.46% |
| Dec 31, 2024 | 15.56% |
| Sep 30, 2024 | 17.78% |
| Jun 30, 2024 | 17.26% |
| Mar 31, 2024 | 13.58% |
| Dec 31, 2023 | 12.57% |
| Sep 30, 2023 | 13.17% |
| Jun 30, 2023 | 16.98% |
| Mar 31, 2023 | 11.92% |
API Access
UL Solutions Operating 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=operating-margin&ticker=ULS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=ULS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();