Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
UL SolutionsULS -2.15%41 ROC (Joel Greenblatt) % is 62.20% as of Mar. 2026, which is 10% above its 10-year median of 56.74. GuruFocus rates ULS with a GF Score™ of 41/100. The stock has 1 warning sign investors should review. Among 1,083 Business Services companies, UL Solutions ranks better than 74.15% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. UL Solutions's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 62.20%.
The historical rank and industry rank for UL Solutions's ROC (Joel Greenblatt) % or its related term are showing as below:
ULS'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 45.42 Med: 56.74 Max: 64.57
Current: 63.63
During the past 7 years, UL Solutions's highest ROC (Joel Greenblatt) % was 64.57%. The lowest was 45.42%. And the median was 56.74%.
ULS's ROC (Joel Greenblatt) % is ranked better than 74.15% of 1083
companies
in the Business Services industry
Industry Median: 21.22
vs ULS: 63.63
UL Solutions's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 3.40% per year.
UL Solutions (NYSE:ULS) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
UL Solutions ROC (Joel Greenblatt) % Related Terms
UL Solutions ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for UL Solutions's ROC (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ULS vs GPN, ARMK, CPRT: ROC (Joel Greenblatt) % Comparison
For the Specialty Business Services subindustry, UL Solutions's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
UL Solutions ROC (Joel Greenblatt) % vs Business Services Industry
For the Business Services industry and Industrials sector, UL Solutions's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where UL Solutions's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a ROC (Joel Greenblatt) % of 62.20% mean?
UL Solutions (ULS) has a ROC (Joel Greenblatt) % of 62.20% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on UL Solutions and its competitors. This is 10% above median its historical median of 56.74. Over the past decade, UL Solutions' ROC (Joel Greenblatt) % has ranged from 45.42 to 64.57. According to the industry distribution chart, UL Solutions ranks #280 out of 1083 companies in the Business Services industry, placing it in the top 25.9%.
Is UL Solutions' ROC (Joel Greenblatt) % too high?
UL Solutions' current ROC (Joel Greenblatt) % of 62.20% is 10% above median its 10-year median of 56.74. Over the past 10 years, this metric has ranged from a low of 45.42 to a high of 64.57. The Business Services industry median ROC (Joel Greenblatt) % is 21.22. UL Solutions' value of 62.20% is 193.1% above this industry median. Based on the distribution chart, UL Solutions ranks #280 out of 1083 companies in the Business Services industry, which is above the industry midpoint. Overall, UL Solutions has a GF Score™ of 41/100, reflecting its overall financial health beyond just this single metric.
How does UL Solutions' ROC (Joel Greenblatt) % compare to GPN and ARMK?
According to the Business Services industry distribution chart, UL Solutions ranks #280 out of 1083 companies for ROC (Joel Greenblatt) %. This puts UL Solutions in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 21.22. UL Solutions' value of 62.20% is 193.1% above this benchmark. Historically, UL Solutions' own ROC (Joel Greenblatt) % has ranged from 45.42 to 64.57 over the past decade. While the company's 10-year median is 56.74 vs. the industry median of 21.22, UL Solutions has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Business Services company?
The median ROC (Joel Greenblatt) % among Business Services companies is 21.22, based on 1,083 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. UL Solutions's current ROC (Joel Greenblatt) % of 62.20% is 193.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on UL Solutions and its competitors. For the Business Services industry, the median ROC (Joel Greenblatt) % is 21.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. UL Solutions's current ROC (Joel Greenblatt) % is 62.20%, which is 10% above median its own 10-year median of 56.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is UL Solutions stock overvalued right now?
UL Solutions (ULS) has a current ROC (Joel Greenblatt) % of 62.20%. The current ROC (Joel Greenblatt) % is 62.20%, which is 10% above median its 10-year median of 56.74 and 193.1% above the Business Services industry median of 21.22. UL Solutions' overall GF Score™ is 41/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For UL Solutions (ULS), the current ROC (Joel Greenblatt) % is 62.20% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
UL Solutions is a global leader specializing in a broad range of product testing, inspection, and certification services. UL Solutions is the for-profit branch out of three organizations under the UL Enterprise. TIC operations make up nearly all of UL Solutions' total revenue and are composed of two segments: industrial and consumer. UL Solutions' remaining business includes software and advisory, which complements its core TIC offerings. The firm operates globally.
41GF Score
Get the complete analysis for ULS
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ULS has been successfully added to your 
