UL Solutions Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating Activities | ||||
| Net Income | $325.0M | $326.0M | $260.0M | $293.0M |
| Depreciation & Amortization | $188.0M | $172.0M | $154.0M | $135.0M |
| Depreciation | $110.0M | $100.0M | $88.0M | $75.0M |
| Amortization | $13.0M | $13.0M | $15.0M | $16.0M |
| Stock-Based Compensation | $47.0M | $23.0M | $0 | $0 |
| Net Cash from Operating Activities | $600.0M | $524.0M | $467.0M | $372.0M |
| Investing Activities | ||||
| Capital Expenditures | $197.0M | $237.0M | $215.0M | $164.0M |
| Business Acquisitions | $1.0M | $26.0M | $18.0M | $66.0M |
| Net Cash from Investing Activities | $-204.0M | $-234.0M | $-175.0M | $-238.0M |
| Financing Activities | ||||
| Dividends Paid | $104.0M | $100.0M | $680.0M | $1.60B |
| Stock Repurchases | — | — | — | — |
| Net Cash from Financing Activities | $-396.0M | $-284.0M | $-294.0M | $-1.12B |
| Net Change in Cash | $-3.0M | $-17.0M | $-7.0M | $-1.01B |
| Free Cash Flow | $403.0M | $287.0M | $252.0M | $208.0M |