UL Solutions profit margin ULS

Gross, operating and net profit as a share of revenue over the last twelve months, from 2023.

Net margin, 12 months: 16.1%
Operating margin, 12 months: 17.9%
Net margin on a year earlier: +5.0 pts
Peer median: 12.0%

Over the twelve months to Jun 30, 2026, UL Solutions kept 16.1% of its revenue as net profit, with an operating margin of 17.9% and a gross margin of 50.3%.

The median for 5 specialty Business Services stocks of a similar size is 12.0%.

Profit margin over time

GrossOperatingNet

Open the interactive chart, with overlays and comparisons

Fiscal year by fiscal year

Fiscal year	Net margin	Operating margin	Gross margin
FY2025	10.6%	17.1%	49.4%
FY2024	11.4%	16.1%	48.5%
FY2023	9.7%	13.7%	47.8%

Quarter by quarter

Quarter	Ended	Net margin, 12 months	Change on a year	Operating margin
Q2 FY26	Jun 30, 2026	16.1%	+5.0 pts	17.9%
Q1 FY26	Mar 31, 2026	11.3%	−0.3 pts	17.7%
Q4 FY25	Dec 31, 2025	10.6%	−0.7 pts	17.1%
Q3 FY25	Sep 30, 2025	11.3%	+0.5 pts	17.3%
Q2 FY25	Jun 30, 2025	11.1%	+1.4 pts	16.7%
Q1 FY25	Mar 31, 2025	11.6%	+2.0 pts	16.5%
Q4 FY24	Dec 31, 2024	11.4%	+1.7 pts	16.1%
Q3 FY24	Sep 30, 2024	10.8%	n/a	15.4%
Q2 FY24	Jun 30, 2024	9.7%	n/a	14.2%
Q1 FY24	Mar 31, 2024	9.6%	n/a	14.1%
Q4 FY23	Dec 31, 2023	9.7%	n/a	13.7%
Q3 FY23	Sep 30, 2023	n/a	n/a	n/a

Against its peers

Companies in Specialty Business Services nearest UL Solutions' size, closest first, today.

Company	Profit margin
ULSUL Solutions	16.1%
ITGartner	12.0%
CPRTCopart	31.8%
MHMcGraw Hill	4.4%
CTASCintas	17.8%
VVXV2X	1.9%
Peer median	12.0%

Where UL Solutions ranks

What the profit margin tells you

Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).

Compare within an industry. 10% is superb for a retailer and poor for a software company.