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Side-by-side financial comparison of Allegion (ALLE) and UL Solutions Inc. (ULS). Click either name above to swap in a different company.
Allegion is the larger business by last-quarter revenue ($1.0B vs $789.0M, roughly 1.3× UL Solutions Inc.). Allegion runs the higher net margin — 14.3% vs 8.5%, a 5.8% gap on every dollar of revenue. On growth, Allegion posted the faster year-over-year revenue change (9.3% vs 6.8%). Allegion produced more free cash flow last quarter ($200.5M vs $86.0M). Over the past eight quarters, UL Solutions Inc.'s revenue compounded faster (8.5% CAGR vs 7.5%).
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers, controls, and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door systems; and other accessories. The company sells its products and solutions to end-users in commercial, institutional, and residential facili...
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.
ALLE vs ULS — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $789.0M |
| Net Profit | $147.5M | $67.0M |
| Gross Margin | 44.5% | 49.7% |
| Operating Margin | 20.3% | 15.0% |
| Net Margin | 14.3% | 8.5% |
| Revenue YoY | 9.3% | 6.8% |
| Net Profit YoY | 2.4% | -17.3% |
| EPS (diluted) | $1.70 | $0.33 |
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.
| Q4 25 | $1.0B | $789.0M | ||
| Q3 25 | $1.1B | $783.0M | ||
| Q2 25 | $1.0B | $776.0M | ||
| Q1 25 | $941.9M | $705.0M | ||
| Q4 24 | $945.6M | $739.0M | ||
| Q3 24 | $967.1M | $731.0M | ||
| Q2 24 | $965.6M | $730.0M | ||
| Q1 24 | $893.9M | $670.0M |
| Q4 25 | $147.5M | $67.0M | ||
| Q3 25 | $188.4M | $100.0M | ||
| Q2 25 | $159.7M | $91.0M | ||
| Q1 25 | $148.2M | $67.0M | ||
| Q4 24 | $144.1M | $81.0M | ||
| Q3 24 | $174.2M | $88.0M | ||
| Q2 24 | $155.4M | $101.0M | ||
| Q1 24 | $123.8M | $56.0M |
| Q4 25 | 44.5% | 49.7% | ||
| Q3 25 | 45.8% | 50.3% | ||
| Q2 25 | 45.6% | 49.4% | ||
| Q1 25 | 44.9% | 48.4% | ||
| Q4 24 | 44.1% | 47.4% | ||
| Q3 24 | 44.7% | 49.0% | ||
| Q2 24 | 44.4% | 50.1% | ||
| Q1 24 | 43.8% | 47.6% |
| Q4 25 | 20.3% | 15.0% | ||
| Q3 25 | 21.8% | 19.9% | ||
| Q2 25 | 21.5% | 17.9% | ||
| Q1 25 | 20.9% | 15.5% | ||
| Q4 24 | 19.5% | 15.6% | ||
| Q3 24 | 22.2% | 17.8% | ||
| Q2 24 | 21.6% | 17.3% | ||
| Q1 24 | 19.3% | 13.6% |
| Q4 25 | 14.3% | 8.5% | ||
| Q3 25 | 17.6% | 12.8% | ||
| Q2 25 | 15.6% | 11.7% | ||
| Q1 25 | 15.7% | 9.5% | ||
| Q4 24 | 15.2% | 11.0% | ||
| Q3 24 | 18.0% | 12.0% | ||
| Q2 24 | 16.1% | 13.8% | ||
| Q1 24 | 13.8% | 8.4% |
| Q4 25 | $1.70 | $0.33 | ||
| Q3 25 | $2.18 | $0.49 | ||
| Q2 25 | $1.85 | $0.45 | ||
| Q1 25 | $1.71 | $0.33 | ||
| Q4 24 | $1.65 | $0.40 | ||
| Q3 24 | $1.99 | $0.44 | ||
| Q2 24 | $1.77 | $0.50 | ||
| Q1 24 | $1.41 | $0.28 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $356.2M | $295.0M |
| Total DebtLower is stronger | $2.0B | $491.0M |
| Stockholders' EquityBook value | $2.1B | $1.3B |
| Total Assets | $5.2B | $2.9B |
| Debt / EquityLower = less leverage | 0.96× | 0.39× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $356.2M | $295.0M | ||
| Q3 25 | $302.7M | $255.0M | ||
| Q2 25 | $656.8M | $272.0M | ||
| Q1 25 | $494.5M | $267.0M | ||
| Q4 24 | $503.8M | $298.0M | ||
| Q3 24 | $878.9M | $327.0M | ||
| Q2 24 | $747.5M | $295.0M | ||
| Q1 24 | $391.8M | $344.0M |
| Q4 25 | $2.0B | $491.0M | ||
| Q3 25 | $2.1B | $544.0M | ||
| Q2 25 | $2.1B | $608.0M | ||
| Q1 25 | $2.0B | $653.0M | ||
| Q4 24 | $2.0B | $742.0M | ||
| Q3 24 | $2.4B | $797.0M | ||
| Q2 24 | $2.4B | $810.0M | ||
| Q1 24 | $2.0B | $879.0M |
| Q4 25 | $2.1B | $1.3B | ||
| Q3 25 | $1.9B | $1.2B | ||
| Q2 25 | $1.8B | $1.1B | ||
| Q1 25 | $1.6B | $970.0M | ||
| Q4 24 | $1.5B | $904.0M | ||
| Q3 24 | $1.6B | $872.0M | ||
| Q2 24 | $1.4B | $769.0M | ||
| Q1 24 | $1.4B | $671.0M |
| Q4 25 | $5.2B | $2.9B | ||
| Q3 25 | $5.2B | $2.9B | ||
| Q2 25 | $4.9B | $2.9B | ||
| Q1 25 | $4.6B | $2.9B | ||
| Q4 24 | $4.5B | $2.8B | ||
| Q3 24 | $5.0B | $2.9B | ||
| Q2 24 | $4.8B | $2.7B | ||
| Q1 24 | $4.3B | $2.8B |
| Q4 25 | 0.96× | 0.39× | ||
| Q3 25 | 1.07× | 0.46× | ||
| Q2 25 | 1.16× | 0.56× | ||
| Q1 25 | 1.24× | 0.67× | ||
| Q4 24 | 1.33× | 0.82× | ||
| Q3 24 | 1.53× | 0.91× | ||
| Q2 24 | 1.69× | 1.05× | ||
| Q1 24 | 1.49× | 1.31× |
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 | $240.1M | $144.0M |
| Free Cash FlowOCF − Capex | $200.5M | $86.0M |
| FCF MarginFCF / Revenue | 19.4% | 10.9% |
| Capex IntensityCapex / Revenue | 3.8% | 7.4% |
| Cash ConversionOCF / Net Profit | 1.63× | 2.15× |
| TTM Free Cash FlowTrailing 4 quarters | $685.7M | $403.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $240.1M | $144.0M | ||
| Q3 25 | $229.5M | $155.0M | ||
| Q2 25 | $209.7M | $147.0M | ||
| Q1 25 | $104.5M | $154.0M | ||
| Q4 24 | $219.0M | $130.0M | ||
| Q3 24 | $231.9M | $150.0M | ||
| Q2 24 | $173.0M | $103.0M | ||
| Q1 24 | $51.1M | $141.0M |
| Q4 25 | $200.5M | $86.0M | ||
| Q3 25 | $209.8M | $109.0M | ||
| Q2 25 | $192.0M | $105.0M | ||
| Q1 25 | $83.4M | $103.0M | ||
| Q4 24 | $194.9M | $72.0M | ||
| Q3 24 | $212.0M | $84.0M | ||
| Q2 24 | $152.1M | $47.0M | ||
| Q1 24 | $23.9M | $84.0M |
| Q4 25 | 19.4% | 10.9% | ||
| Q3 25 | 19.6% | 13.9% | ||
| Q2 25 | 18.8% | 13.5% | ||
| Q1 25 | 8.9% | 14.6% | ||
| Q4 24 | 20.6% | 9.7% | ||
| Q3 24 | 21.9% | 11.5% | ||
| Q2 24 | 15.8% | 6.4% | ||
| Q1 24 | 2.7% | 12.5% |
| Q4 25 | 3.8% | 7.4% | ||
| Q3 25 | 1.8% | 5.9% | ||
| Q2 25 | 1.7% | 5.4% | ||
| Q1 25 | 2.2% | 7.2% | ||
| Q4 24 | 2.5% | 7.8% | ||
| Q3 24 | 2.1% | 9.0% | ||
| Q2 24 | 2.2% | 7.7% | ||
| Q1 24 | 3.0% | 8.5% |
| Q4 25 | 1.63× | 2.15× | ||
| Q3 25 | 1.22× | 1.55× | ||
| Q2 25 | 1.31× | 1.62× | ||
| Q1 25 | 0.71× | 2.30× | ||
| Q4 24 | 1.52× | 1.60× | ||
| Q3 24 | 1.33× | 1.70× | ||
| Q2 24 | 1.11× | 1.02× | ||
| Q1 24 | 0.41× | 2.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALLE
| Products | $750.2M | 73% |
| Allegion International | $237.7M | 23% |
| Services | $45.2M | 4% |
ULS
| Industrial | $352.0M | 45% |
| Ongoing Certification Services | $259.0M | 33% |
| Software And Advisory | $102.0M | 13% |
| Software | $75.0M | 10% |
