ULS
UL Solutions Inc.
ULS has slightly lower modeled downside risk, despite its lower overall score.
VRT
Vertiv Holdings Co
VRT has the edge over ULS overall, supported by stronger valuation and stronger fundamentals.
ULS Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Strong | |
| Strong |
ULS's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
VRT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
VRT's revenue, profitability, cash flow and balance sheet are all currently strong.
ULS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 32x | $81.55 | — |
| Forward | 32x | $81.55 | — |
| Cheap | 33x | $82.52 | +1.2% |
| Fair | 42x | $105 | +29% |
| Expensive | 52x | $130 | +60% |
Historical ranges are pointers, not guarantees.
ULS's PE is in its cheap range at 32.4x, but its recent earnings include one-off gains. On analysts' estimates for next year's earnings, today's price would be 32.3x.
VRT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 23x | $210 | — |
| Current | 39x | $210 | — |
| Cheap | 58x | $308 | +47% |
| Fair | 72x | $383 | +83% |
| Expensive | 88x | $472 | +125% |
Historical ranges are pointers, not guarantees.
VRT has the edge over ULS in the historical PE scenario, which offers more potential upside but is not a forecast.
ULS Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for ULS, with profitability improving.
VRT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
VRT has the edge over ULS on the outlook, with more favorable valuation expectations.
ULS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.52 | +0.1% |
| Q3 2026 | $2.52 | +51% |
| Q2 2026 | $2.48 | +53% |
| Q1 2026 | $1.72 | +3% |
| Q4 2025 | $1.60 | -1.2% |
| Q3 2025 | $1.67 | +11% |
| Q2 2025 | $1.62 | +21% |
| Q1 2025 | $1.67 | +27% |
| Q4 2024 | $1.62 | +24% |
ULS earned $2.52 per share over the past year, up 51% from the year before. Its recent earnings include one-off gains.
VRT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.14 | +71% |
| Q3 2026 | $5.35 | +102% |
| Q2 2026 | $4.42 | +111% |
| Q1 2026 | $3.98 | +131% |
| Q4 2025 | $3.41 | +166% |
| Q3 2025 | $2.65 | +75% |
| Q2 2025 | $2.09 | +62% |
| Q1 2025 | $1.72 | +64% |
| Q4 2024 | $1.28 | +7.6% |
VRT has the edge over ULS on earnings, with more consistent year-over-year improvement.
ULS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $823M | +5.1% |
| Q2 2026 | $816M | +5.2% |
| Q1 2026 | $758M | +7.5% |
| Q4 2025 | $789M | +6.8% |
| Q3 2025 | $783M | +7.1% |
| Q2 2025 | $776M | +6.3% |
| Q1 2025 | $705M | +5.2% |
| Q4 2024 | $739M | +8% |
ULS's revenue has grown year over year every quarter since early 2023: $823M last quarter, up 5.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | -0.2 points |
| Q2 2026 | 18% | +0.5 points |
| Q1 2026 | 18% | +2.8 points |
| Q4 2025 | 15% | -0.6 points |
| Q3 2025 | 20% | +2.1 points |
| Q2 2025 | 18% | +0.6 points |
| Q1 2025 | 15% | +1.9 points |
| Q4 2024 | 16% | +2.8 points |
ULS's operating margin was 20% last quarter, about level with the same quarter a year ago.
VRT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.3B | +61% |
| Q2 2026 | $3.3B | +24% |
| Q1 2026 | $2.6B | +30% |
| Q4 2025 | $2.9B | +23% |
| Q3 2025 | $2.7B | +29% |
| Q2 2025 | $2.6B | +35% |
| Q1 2025 | $2B | +24% |
| Q4 2024 | $2.3B | +26% |
VRT has the edge over ULS on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 23% | +3.5 points |
| Q2 2026 | 19% | +2.7 points |
| Q1 2026 | 17% | +2.3 points |
| Q4 2025 | 20% | +0.7 points |
| Q3 2025 | 19% | +1.4 points |
| Q2 2025 | 17% | -0.4 points |
| Q1 2025 | 14% | +1.9 points |
| Q4 2024 | 19% | +4.2 points |
VRT has the edge over ULS on profitability, with a higher operating margin.
ULS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $154M | +41% |
| Q2 2026 | $91M | -13% |
| Q1 2026 | $150M | +46% |
| Q4 2025 | $86M | +19% |
| Q3 2025 | $109M | +30% |
| Q2 2025 | $105M | +123% |
| Q1 2025 | $103M | +23% |
| Q4 2024 | $72M | +7.5% |
ULS's free cash flow has been positive every quarter since early 2022: $481M over the past year, up 24% from the year before.
VRT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $654.9M | +41% |
| Q2 2026 | $926.5M | +233% |
| Q1 2026 | $654.2M | +145% |
| Q4 2025 | $885.6M | +143% |
| Q3 2025 | $463.5M | +36% |
| Q2 2025 | $277.9M | -19% |
| Q1 2025 | $266.8M | +162% |
| Q4 2024 | $364.5M | +18% |
VRT has the edge over ULS on cash flow, with stronger typical year-over-year growth.
ULS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +0.5% | +1M shares |
| 3 years | +2% | +4M shares |
ULS has 204M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
VRT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -64.9K shares |
| 1 year | +0.4% | +1.8M shares |
| 3 years | +1.1% | +4.4M shares |
| 5 years | +10% | +36M shares |
| Available history | +63% | +152M shares |
VRT has 393M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | $599.9M |
ULS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.3x | Net Cash |
| Q2 2026 | -0.2x | Net Cash |
| Q1 2026 | 0.1x | Very low |
| Q4 2025 | 0.3x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.6x | Very low |
| Q4 2024 | 0.7x | Very low |
ULS has the edge over VRT on leverage, with a lower net debt burden relative to earnings.
VRT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.8x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 0.8x | Very low |
| Q4 2024 | 1.0x | Healthy |
VRT has more cash than debt.
ULS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.8 | Neutral |
| Stochastic | 60.4 | Neutral |
ULS's weekly RSI is 54 (neutral) and its Stochastic is 60 (neutral).
VRT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 26.4 | Neutral |
VRT's weekly RSI is 43 (neutral) and its Stochastic is 26 (neutral).
ULS PE vs Industrials Sector
| Metric | ULS | Sector median | Relative |
|---|---|---|---|
| PE | 32x | 24x | 35% above |
| PE % | 13 | 43 | 30 pts below |
ULS has the edge over VRT on valuation relative to its sector.
VRT PE vs Industrials Sector
| Metric | VRT | Sector median | Relative |
|---|---|---|---|
| PE | 39x | 24x | 63% above |
| PE % | 3 | 58 | 55 pts below |
VRT is trading at 39x earnings, a 63% premium to the Industrials sector's median of 24x.
ULS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $73.0 | 12% above |
| 20 week MA | $77.4 | 5.4% above |
| 50 week MA | $82.1 | 0.7% below |
| 100 week MA | $73.6 | 11% above |
ULS has stronger trend alignment. ULS is above 3 of 4 weekly averages versus VRT above 2 of 5.
VRT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $221.8 | 5.5% below |
| 20 week MA | $254.4 | 18% below |
| 50 week MA | $253.9 | 17% below |
| 100 week MA | $189.1 | 11% above |
| 200 week MA | $123.5 | 70% above |
VRT has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 70% above its 200-week average.
ULS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $34.9 | $50.4 | +44% |
| 2025 | $50.4 | $80.0 | +59% |
| 2026 YTD | $80.0 | $81.6 | +2% |
ULS has finished every year since 2024 higher, and it's up 2% so far in 2026.
VRT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.9 | $18.9 | +73% |
| 2021 | $18.9 | $24.9 | +31% |
| 2022 | $24.9 | $12.8 | -48% |
| 2023 | $12.8 | $48.0 | +275% |
| 2024 | $48.0 | $115.1 | +140% |
| 2025 | $115.1 | $167.6 | +46% |
| 2026 YTD | $167.6 | $209.6 | +25% |
VRT has the edge over ULS on returns for 2026, with the stronger performance.