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The Screen · Industrials · Specialty Business Services
UL Solutions Inc
ULS · the NYSE · USD · Market cap $13.5B · 14,587 employees
UL Solutions Inc., together with its subsidiaries, provides testing, inspection and certification services and related software and advisory services worldwide.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price66.65 USD
Fair value62.89
Ethical score70.0/100
Our investment reviews on this name
2026-10-02Read Distribution66.65+0.0% to today
2026-09-15Read Markdown74.63-10.7% to today ✓
2026-08-15Read Distribution91.68-27.3% to today ✓
2026-07-02Read Markdown96.93-31.2% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
UL Solutions Inc holds its Distribution at $66.65. The statistical read favours the sellers, held for 19 days.
As held on the ledger · 2026-09-22
Phase
Distribution · caution
Quantitative state
The statistical read favours the sellers, held for 19 days
Price at the screen
$66.65
Valuation
26.88 trailing · 25.63 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.62
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
23.38%
Below 33%
Interest-bearing debt is just 23.4% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
24.55%
Below 49%
Money owed to the company is 24.5% of assets, under the 49% limit.
Pass
Revenue purity
0.13%
Below 5%
Only 0.1% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
UL Solutions clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 23%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
Fair value range in USD, drawn from the 2026-09-22 screen. The gold marker is the market price at the same screen. The price runs 5.6% above the base estimate.
Third-party analyst targets: 12 covering, consensus Buy. The average target sits +43% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-22 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Safety Certifier Priced for Perfection Already
Every toaster and electric car battery that reaches a shop floor has to clear safety checks first. UL Solutions sits in that quiet middle, running tests and handing out certificates that let products ship worldwide.
The numbers look solid on the surface, with 8% revenue growth, 11% margins and a 32% return on equity. Yet the shares sit 7% above our fair value at a 34 times forward earnings multiple for a narrow moat business. That leaves no margin of safety and explains the none rating.
The main risk is simple re-rating. If growth slows even a notch or competition from other testers intensifies, the premium multiple can compress quickly. Analyst targets sit higher, but those forecasts already bake in optimistic assumptions. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
ULS trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 10.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 40%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (12 analysts) rates it none, with a mean price target of $109. Since the last review it its composite score rose.
2026-09-15Markdown · changed$74.63-18.6%Entry 5
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 18.6% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 40%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (12 analysts) rates it none, with a mean price target of $109.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 5.4% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 40%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (12 analysts) rates it none, with a mean price target of $109.
2026-07-18Markdown$96.93+0.0%Entry 3
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 40%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (12 analysts) rates it none, with a mean price target of $109.
2026-07-03Markdown$96.93+0.0%Entry 2
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markdown$96.93Entry 1
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
