Clarivate vs UL Solutions
UL Solutions is the larger business, with $3.05bn of revenue in fiscal 2025 against $2.46bn for Clarivate (1.2 times as much). UL Solutions grew faster (6.4% against -4.0%). UL Solutions kept more of each dollar of sales as profit: a net margin of 10.6% against -8.2%. UL Solutions carries less debt relative to equity (39.1% against 92.3%).
| Latest fiscal year | ClarivateCLVT, 2025 | UL SolutionsULS, 2025 |
|---|---|---|
| Revenue | $2.46bn | $3.05bn |
| Revenue growth | -4.0% | 6.4% |
| Net income | −$201m | $325m |
| Operating margin | 2.9% | 17.1% |
| Net margin | -8.2% | 10.6% |
| Return on equity | -4.0% | 30.0% |
| Free cash flow | $365m | $403m |
| Cash | $329m | $295m |
| Total debt | $4.47bn | $494m |
| Debt to equity | 92.3% | 39.1% |
| Dividend per share | — | $0.52 |
| Dividend yield | 0.0% | 0.7% |
| Share buybacks | $225m | — |
| Employees | 12,000 | 14,587 |
| Market value | $1.31bn | $16.12bn |
| Price vs our value range | — | Above our value range |
| Moat score | 49 (Moderate) | — |
| Insider trades, 12 months | 4 buys, 4 sales | 2 buys, 26 sales |