Ul Solutions Inc (ULS) NASDAQ IPO
ULS IPO
Ul Solutions Inc IPO
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IPO Info
Date of establishment | 1894 |
Employees | 15,233 (23/12/2023) |
type of business | SERVICES-TESTING LABORATORIES |
Business details | Provide testing, inspection and certification ("TIC") services and related software and advice ("S&A") services |
Shares Outstanding | 28,000,000 |
IPO Price | $26.00-29.00 |
Company Info
It is a global safety certification company based in North Brock, Illinois, United States, and consists of three organizations: UL Laboratories, UL Standards & Engagement, and UL Solutions.
It is one of the companies approved by the Occupational Safety and Health Administration (OSHA), a federal agency, to conduct safety tests in more than 110 countries.
It has its own UL certification mark and provides software products and advisory services along with testing, inspection, and certification services.
As of 2023, it can acquire and maintain more than 650 technical certifications and 83 commercial software solutions, and serves on more than 1,300 standard panels and technical committees worldwide.
It serves customers through two complementary businesses: TIC and S&A. The TIC business is composed of two sectors: industrial and consumer. It provides comprehensive testing, inspection and certification services to a wide range of end-market customers. The S&A business is a global provider of software, data, and advisory solutions, helping customers manage complex regulatory requirements, provide supply chain transparency, and operate sustainability.
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In 2023, the company achieved customer retention of approximately 99% of its 500 largest customer accounts in 2019, 2020, 2021 and 2022 respectively, and as the No. 1 TIC service provider in the product segment and the No. 10 TIC provider in the world by revenue, it experienced compound annual revenue growth of approximately 7% over 12 years.
It generates revenue from four major services and consists of each certification test (approximately 27% of sales), continuous certification services including UL marks (approximately 33% of sales), non-certification tests and other services (approximately 30% of sales), and software (approximately 10% of sales).
Finance Info
| 2023 Year | 2022 Year | ||
| Revenue | 2,678 | 2,520 | 2,517 |
| Net income | 276 | 309 | 238 |
| Operating income | 368 | 412 | 287 |
| Total equity | 2,736 | 2,720 | |
| Total debt | 2,058 | 1,643 |
($ in millions)
Other Info
1. As a certified company with global businesses in more than 110 countries, it is currently using machine learning and AI technology, and is investing in expanding AI capabilities of products, services, and tools, including the development of new product functions using AI technology.
2. It maintains important international operations, including businesses in Greater China (mainland China, Hong Kong, Taiwan), Japan, Germany, South Korea, Italy, Canada and other countries, and as of 2023, about 58.3% of its revenue is generated in markets other than the United States, which could dictate U.S. foreign policy.
3. Since the certification business is highly competitive and highly sensitive to the addition and change of new technologies such as AI, failure to innovate in response to the ongoing market requirements may have a negative impact.
Since it is a global company with scale and there is a continuous increase or decrease in profits, it is difficult to expect a large profit, but it seems to be an attractive investment company.
For more information, please refer to the Ul Solutions Inc website and sec below
https://www.sec.gov/edgar/browse/?CIK=1901440&owner=exclude
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