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Side-by-side financial comparison of PERRIGO Co plc (PRGO) and UL Solutions Inc. (ULS). Click either name above to swap in a different company.
PERRIGO Co plc is the larger business by last-quarter revenue ($1.1B vs $789.0M, roughly 1.4× UL Solutions Inc.). UL Solutions Inc. runs the higher net margin — 8.5% vs -127.8%, a 136.3% gap on every dollar of revenue. On growth, UL Solutions Inc. posted the faster year-over-year revenue change (6.8% vs -2.5%). PERRIGO Co plc produced more free cash flow last quarter ($148.6M vs $86.0M). Over the past eight quarters, UL Solutions Inc.'s revenue compounded faster (8.5% CAGR vs 1.3%).
Perrigo Company plc is an American Irish-registered manufacturer of private label over-the-counter pharmaceuticals, and while 70% of Perrigo's net sales are from the U.S. healthcare system, Perrigo is legally headquartered in Ireland for tax purposes, which accounts for 0.60% of net sales. In 2013, Perrigo completed the sixth-largest US corporate tax inversion in history when it reregistered its tax status to Ireland to avoid U.S. corporate taxes. Perrigo maintains its corporate headquarters ...
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.
PRGO vs ULS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $789.0M |
| Net Profit | $-1.4B | $67.0M |
| Gross Margin | 32.6% | 49.7% |
| Operating Margin | -116.0% | 15.0% |
| Net Margin | -127.8% | 8.5% |
| Revenue YoY | -2.5% | 6.8% |
| Net Profit YoY | -3093.9% | -17.3% |
| EPS (diluted) | $-10.23 | $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 | $1.1B | $789.0M | ||
| Q3 25 | $1.0B | $783.0M | ||
| Q2 25 | $1.1B | $776.0M | ||
| Q1 25 | $1.0B | $705.0M | ||
| Q4 24 | $1.1B | $739.0M | ||
| Q3 24 | $1.1B | $731.0M | ||
| Q2 24 | $1.1B | $730.0M | ||
| Q1 24 | $1.1B | $670.0M |
| Q4 25 | $-1.4B | $67.0M | ||
| Q3 25 | $7.5M | $100.0M | ||
| Q2 25 | $-8.4M | $91.0M | ||
| Q1 25 | $-6.4M | $67.0M | ||
| Q4 24 | $-44.4M | $81.0M | ||
| Q3 24 | $-21.0M | $88.0M | ||
| Q2 24 | $-108.4M | $101.0M | ||
| Q1 24 | $2.0M | $56.0M |
| Q4 25 | 32.6% | 49.7% | ||
| Q3 25 | 36.1% | 50.3% | ||
| Q2 25 | 34.4% | 49.4% | ||
| Q1 25 | 37.6% | 48.4% | ||
| Q4 24 | 33.9% | 47.4% | ||
| Q3 24 | 37.2% | 49.0% | ||
| Q2 24 | 37.0% | 50.1% | ||
| Q1 24 | 33.1% | 47.6% |
| Q4 25 | -116.0% | 15.0% | ||
| Q3 25 | 7.0% | 19.9% | ||
| Q2 25 | 4.3% | 17.9% | ||
| Q1 25 | 4.5% | 15.5% | ||
| Q4 24 | 10.0% | 15.6% | ||
| Q3 24 | 7.4% | 17.8% | ||
| Q2 24 | -2.5% | 17.3% | ||
| Q1 24 | -5.1% | 13.6% |
| Q4 25 | -127.8% | 8.5% | ||
| Q3 25 | 0.7% | 12.8% | ||
| Q2 25 | -0.8% | 11.7% | ||
| Q1 25 | -0.6% | 9.5% | ||
| Q4 24 | -3.9% | 11.0% | ||
| Q3 24 | -1.9% | 12.0% | ||
| Q2 24 | -10.2% | 13.8% | ||
| Q1 24 | 0.2% | 8.4% |
| Q4 25 | $-10.23 | $0.33 | ||
| Q3 25 | $0.05 | $0.49 | ||
| Q2 25 | $-0.06 | $0.45 | ||
| Q1 25 | $-0.05 | $0.33 | ||
| Q4 24 | $-0.32 | $0.40 | ||
| Q3 24 | $-0.15 | $0.44 | ||
| Q2 24 | $-0.79 | $0.50 | ||
| Q1 24 | $0.01 | $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 | — | $295.0M |
| Total DebtLower is stronger | — | $491.0M |
| Stockholders' EquityBook value | $2.9B | $1.3B |
| Total Assets | $8.5B | $2.9B |
| Debt / EquityLower = less leverage | — | 0.39× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $295.0M | ||
| Q3 25 | $432.1M | $255.0M | ||
| Q2 25 | $454.2M | $272.0M | ||
| Q1 25 | $409.9M | $267.0M | ||
| Q4 24 | $558.8M | $298.0M | ||
| Q3 24 | $1.5B | $327.0M | ||
| Q2 24 | $542.8M | $295.0M | ||
| Q1 24 | $658.5M | $344.0M |
| Q4 25 | — | $491.0M | ||
| Q3 25 | — | $544.0M | ||
| Q2 25 | — | $608.0M | ||
| Q1 25 | — | $653.0M | ||
| Q4 24 | — | $742.0M | ||
| Q3 24 | — | $797.0M | ||
| Q2 24 | — | $810.0M | ||
| Q1 24 | — | $879.0M |
| Q4 25 | $2.9B | $1.3B | ||
| Q3 25 | $4.4B | $1.2B | ||
| Q2 25 | $4.5B | $1.1B | ||
| Q1 25 | $4.4B | $970.0M | ||
| Q4 24 | $4.3B | $904.0M | ||
| Q3 24 | $4.6B | $872.0M | ||
| Q2 24 | $4.5B | $769.0M | ||
| Q1 24 | $4.7B | $671.0M |
| Q4 25 | $8.5B | $2.9B | ||
| Q3 25 | $10.1B | $2.9B | ||
| Q2 25 | $10.1B | $2.9B | ||
| Q1 25 | $9.8B | $2.9B | ||
| Q4 24 | $9.6B | $2.8B | ||
| Q3 24 | $11.2B | $2.9B | ||
| Q2 24 | $10.4B | $2.7B | ||
| Q1 24 | $10.6B | $2.8B |
| Q4 25 | — | 0.39× | ||
| Q3 25 | — | 0.46× | ||
| Q2 25 | — | 0.56× | ||
| Q1 25 | — | 0.67× | ||
| Q4 24 | — | 0.82× | ||
| Q3 24 | — | 0.91× | ||
| Q2 24 | — | 1.05× | ||
| Q1 24 | — | 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 | $175.4M | $144.0M |
| Free Cash FlowOCF − Capex | $148.6M | $86.0M |
| FCF MarginFCF / Revenue | 13.4% | 10.9% |
| Capex IntensityCapex / Revenue | 2.4% | 7.4% |
| Cash ConversionOCF / Net Profit | — | 2.15× |
| TTM Free Cash FlowTrailing 4 quarters | $145.1M | $403.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $175.4M | $144.0M | ||
| Q3 25 | $51.7M | $155.0M | ||
| Q2 25 | $75.9M | $147.0M | ||
| Q1 25 | $-64.5M | $154.0M | ||
| Q4 24 | $312.6M | $130.0M | ||
| Q3 24 | $42.2M | $150.0M | ||
| Q2 24 | $9.5M | $103.0M | ||
| Q1 24 | $-1.4M | $141.0M |
| Q4 25 | $148.6M | $86.0M | ||
| Q3 25 | $29.8M | $109.0M | ||
| Q2 25 | $56.7M | $105.0M | ||
| Q1 25 | $-90.0M | $103.0M | ||
| Q4 24 | $274.9M | $72.0M | ||
| Q3 24 | $15.1M | $84.0M | ||
| Q2 24 | $-18.9M | $47.0M | ||
| Q1 24 | $-26.5M | $84.0M |
| Q4 25 | 13.4% | 10.9% | ||
| Q3 25 | 2.9% | 13.9% | ||
| Q2 25 | 5.4% | 13.5% | ||
| Q1 25 | -8.6% | 14.6% | ||
| Q4 24 | 24.2% | 9.7% | ||
| Q3 24 | 1.4% | 11.5% | ||
| Q2 24 | -1.8% | 6.4% | ||
| Q1 24 | -2.4% | 12.5% |
| Q4 25 | 2.4% | 7.4% | ||
| Q3 25 | 2.1% | 5.9% | ||
| Q2 25 | 1.8% | 5.4% | ||
| Q1 25 | 2.4% | 7.2% | ||
| Q4 24 | 3.3% | 7.8% | ||
| Q3 24 | 2.5% | 9.0% | ||
| Q2 24 | 2.7% | 7.7% | ||
| Q1 24 | 2.3% | 8.5% |
| Q4 25 | — | 2.15× | ||
| Q3 25 | 6.89× | 1.55× | ||
| Q2 25 | — | 1.62× | ||
| Q1 25 | — | 2.30× | ||
| Q4 24 | — | 1.60× | ||
| Q3 24 | — | 1.70× | ||
| Q2 24 | — | 1.02× | ||
| Q1 24 | -0.70× | 2.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PRGO
| Consumer Self Care Americas | $697.0M | 63% |
| Digestive Health | $123.9M | 11% |
| Nutrition | $108.3M | 10% |
| Healthy Lifestyle | $94.8M | 9% |
| Pain And Sleep Aids | $87.1M | 8% |
ULS
| Industrial | $352.0M | 45% |
| Ongoing Certification Services | $259.0M | 33% |
| Software And Advisory | $102.0M | 13% |
| Software | $75.0M | 10% |
