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Side-by-side financial comparison of Allstate (ALL) and UL Solutions Inc. (ULS). Click either name above to swap in a different company.
Allstate is the larger business by last-quarter revenue ($922.0M vs $758.0M, roughly 1.2× UL Solutions Inc.). Allstate runs the higher net margin — 266.6% vs 12.8%, a 253.8% gap on every dollar of revenue. On growth, UL Solutions Inc. posted the faster year-over-year revenue change (7.5% vs 7.2%). Over the past eight quarters, UL Solutions Inc.'s revenue compounded faster (1.9% CAGR vs -75.8%).
The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal ...
The UL enterprise is a global private safety company headquartered in Northbrook, Illinois, composed of three organizations, UL Research Institutes, UL Standards & Engagement and UL Solutions.
ALL vs ULS — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $922.0M | $758.0M |
| Net Profit | $2.5B | $97.0M |
| Gross Margin | — | 50.3% |
| Operating Margin | -1400.3% | 18.2% |
| Net Margin | 266.6% | 12.8% |
| Revenue YoY | 7.2% | 7.5% |
| Net Profit YoY | — | 37.3% |
| EPS (diluted) | $9.25 | $0.45 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $922.0M | $758.0M | ||
| Q4 25 | $17.3B | $789.0M | ||
| Q3 25 | $17.3B | $783.0M | ||
| Q2 25 | $16.6B | $776.0M | ||
| Q1 25 | $16.5B | $705.0M | ||
| Q4 24 | $16.5B | $739.0M | ||
| Q3 24 | $16.6B | $731.0M | ||
| Q2 24 | $15.7B | $730.0M |
| Q1 26 | $2.5B | $97.0M | ||
| Q4 25 | $3.8B | $67.0M | ||
| Q3 25 | $3.7B | $100.0M | ||
| Q2 25 | $2.1B | $91.0M | ||
| Q1 25 | $595.0M | $67.0M | ||
| Q4 24 | $1.9B | $81.0M | ||
| Q3 24 | $1.2B | $88.0M | ||
| Q2 24 | $331.0M | $101.0M |
| Q1 26 | — | 50.3% | ||
| Q4 25 | — | 49.7% | ||
| Q3 25 | — | 50.3% | ||
| Q2 25 | — | 49.4% | ||
| Q1 25 | — | 48.4% | ||
| Q4 24 | — | 47.4% | ||
| Q3 24 | — | 49.0% | ||
| Q2 24 | — | 50.1% |
| Q1 26 | -1400.3% | 18.2% | ||
| Q4 25 | — | 15.0% | ||
| Q3 25 | — | 19.9% | ||
| Q2 25 | — | 17.9% | ||
| Q1 25 | — | 15.5% | ||
| Q4 24 | — | 15.6% | ||
| Q3 24 | — | 17.8% | ||
| Q2 24 | — | 17.3% |
| Q1 26 | 266.6% | 12.8% | ||
| Q4 25 | 22.1% | 8.5% | ||
| Q3 25 | 21.7% | 12.8% | ||
| Q2 25 | 12.7% | 11.7% | ||
| Q1 25 | 3.6% | 9.5% | ||
| Q4 24 | 11.7% | 11.0% | ||
| Q3 24 | 7.2% | 12.0% | ||
| Q2 24 | 2.1% | 13.8% |
| Q1 26 | $9.25 | $0.45 | ||
| Q4 25 | $14.24 | $0.33 | ||
| Q3 25 | $13.95 | $0.49 | ||
| Q2 25 | $7.76 | $0.45 | ||
| Q1 25 | $2.11 | $0.33 | ||
| Q4 24 | $7.07 | $0.40 | ||
| Q3 24 | $4.33 | $0.44 | ||
| Q2 24 | $1.13 | $0.50 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $258.0M |
| Total DebtLower is stronger | — | $357.0M |
| Stockholders' EquityBook value | $31.6B | $1.3B |
| Total Assets | $124.0B | $3.0B |
| Debt / EquityLower = less leverage | — | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $258.0M | ||
| Q4 25 | $4.9B | $295.0M | ||
| Q3 25 | $8.7B | $255.0M | ||
| Q2 25 | $9.6B | $272.0M | ||
| Q1 25 | $6.5B | $267.0M | ||
| Q4 24 | $4.5B | $298.0M | ||
| Q3 24 | $7.0B | $327.0M | ||
| Q2 24 | $5.3B | $295.0M |
| Q1 26 | — | $357.0M | ||
| Q4 25 | $7.5B | $491.0M | ||
| Q3 25 | $8.1B | $544.0M | ||
| Q2 25 | $8.1B | $608.0M | ||
| Q1 25 | $8.1B | $653.0M | ||
| Q4 24 | $8.1B | $742.0M | ||
| Q3 24 | $8.1B | $797.0M | ||
| Q2 24 | $8.1B | $810.0M |
| Q1 26 | $31.6B | $1.3B | ||
| Q4 25 | $30.6B | $1.3B | ||
| Q3 25 | $27.5B | $1.2B | ||
| Q2 25 | $24.0B | $1.1B | ||
| Q1 25 | $22.1B | $970.0M | ||
| Q4 24 | $21.4B | $904.0M | ||
| Q3 24 | $20.9B | $872.0M | ||
| Q2 24 | $18.6B | $769.0M |
| Q1 26 | $124.0B | $3.0B | ||
| Q4 25 | $119.8B | $2.9B | ||
| Q3 25 | $120.4B | $2.9B | ||
| Q2 25 | $115.9B | $2.9B | ||
| Q1 25 | $115.2B | $2.9B | ||
| Q4 24 | $111.6B | $2.8B | ||
| Q3 24 | $113.7B | $2.9B | ||
| Q2 24 | $108.4B | $2.7B |
| Q1 26 | — | 0.27× | ||
| Q4 25 | 0.24× | 0.39× | ||
| Q3 25 | 0.29× | 0.46× | ||
| Q2 25 | 0.34× | 0.56× | ||
| Q1 25 | 0.37× | 0.67× | ||
| Q4 24 | 0.38× | 0.82× | ||
| Q3 24 | 0.39× | 0.91× | ||
| Q2 24 | 0.43× | 1.05× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $219.0M |
| Free Cash FlowOCF − Capex | — | $150.0M |
| FCF MarginFCF / Revenue | — | 19.8% |
| Capex IntensityCapex / Revenue | — | 9.1% |
| Cash ConversionOCF / Net Profit | — | 2.26× |
| TTM Free Cash FlowTrailing 4 quarters | — | $450.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $219.0M | ||
| Q4 25 | $3.0B | $144.0M | ||
| Q3 25 | $3.3B | $155.0M | ||
| Q2 25 | $1.9B | $147.0M | ||
| Q1 25 | $2.0B | $154.0M | ||
| Q4 24 | $1.7B | $130.0M | ||
| Q3 24 | $3.2B | $150.0M | ||
| Q2 24 | $2.4B | $103.0M |
| Q1 26 | — | $150.0M | ||
| Q4 25 | $2.9B | $86.0M | ||
| Q3 25 | $3.2B | $109.0M | ||
| Q2 25 | $1.9B | $105.0M | ||
| Q1 25 | $1.9B | $103.0M | ||
| Q4 24 | $1.7B | $72.0M | ||
| Q3 24 | $3.1B | $84.0M | ||
| Q2 24 | $2.3B | $47.0M |
| Q1 26 | — | 19.8% | ||
| Q4 25 | 16.7% | 10.9% | ||
| Q3 25 | 18.8% | 13.9% | ||
| Q2 25 | 11.3% | 13.5% | ||
| Q1 25 | 11.4% | 14.6% | ||
| Q4 24 | 10.0% | 9.7% | ||
| Q3 24 | 18.9% | 11.5% | ||
| Q2 24 | 14.7% | 6.4% |
| Q1 26 | — | 9.1% | ||
| Q4 25 | 0.5% | 7.4% | ||
| Q3 25 | 0.3% | 5.9% | ||
| Q2 25 | 0.0% | 5.4% | ||
| Q1 25 | 0.6% | 7.2% | ||
| Q4 24 | 0.3% | 7.8% | ||
| Q3 24 | 0.4% | 9.0% | ||
| Q2 24 | 0.4% | 7.7% |
| Q1 26 | — | 2.26× | ||
| Q4 25 | 0.78× | 2.15× | ||
| Q3 25 | 0.88× | 1.55× | ||
| Q2 25 | 0.89× | 1.62× | ||
| Q1 25 | 3.30× | 2.30× | ||
| Q4 24 | 0.88× | 1.60× | ||
| Q3 24 | 2.69× | 1.70× | ||
| Q2 24 | 7.13× | 1.02× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
