vs
Side-by-side financial comparison of SCANSOURCE, INC. (SCSC) and UL Solutions Inc. (ULS). Click either name above to swap in a different company.
UL Solutions Inc. is the larger business by last-quarter revenue ($789.0M vs $766.5M, roughly 1.0× SCANSOURCE, INC.). UL Solutions Inc. runs the higher net margin — 8.5% vs 2.2%, a 6.3% gap on every dollar of revenue. On growth, UL Solutions Inc. posted the faster year-over-year revenue change (6.8% vs 2.5%). UL Solutions Inc. produced more free cash flow last quarter ($86.0M vs $28.9M). Over the past eight quarters, UL Solutions Inc.'s revenue compounded faster (8.5% CAGR vs 0.9%).
ScanSource, Inc. is a leading global specialty technology distributor offering a broad portfolio of solutions including point-of-sale systems, barcode scanning tools, cybersecurity products, cloud services and communication solutions. It primarily serves value-added resellers, managed service providers and enterprise clients across North America, Latin America and Europe, covering retail, healthcare, industrial and public sector core segments.
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.
SCSC vs ULS — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $766.5M | $789.0M |
| Net Profit | $16.5M | $67.0M |
| Gross Margin | 13.4% | 49.7% |
| Operating Margin | 2.3% | 15.0% |
| Net Margin | 2.2% | 8.5% |
| Revenue YoY | 2.5% | 6.8% |
| Net Profit YoY | -3.3% | -17.3% |
| EPS (diluted) | $0.75 | $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 | $766.5M | $789.0M | ||
| Q3 25 | $739.6M | $783.0M | ||
| Q2 25 | $812.9M | $776.0M | ||
| Q1 25 | $704.8M | $705.0M | ||
| Q4 24 | $747.5M | $739.0M | ||
| Q3 24 | $775.6M | $731.0M | ||
| Q2 24 | $746.1M | $730.0M | ||
| Q1 24 | $752.6M | $670.0M |
| Q4 25 | $16.5M | $67.0M | ||
| Q3 25 | $19.9M | $100.0M | ||
| Q2 25 | $20.1M | $91.0M | ||
| Q1 25 | $17.4M | $67.0M | ||
| Q4 24 | $17.1M | $81.0M | ||
| Q3 24 | $17.0M | $88.0M | ||
| Q2 24 | $16.1M | $101.0M | ||
| Q1 24 | $12.8M | $56.0M |
| Q4 25 | 13.4% | 49.7% | ||
| Q3 25 | 14.5% | 50.3% | ||
| Q2 25 | 12.9% | 49.4% | ||
| Q1 25 | 14.2% | 48.4% | ||
| Q4 24 | 13.6% | 47.4% | ||
| Q3 24 | 13.1% | 49.0% | ||
| Q2 24 | 13.0% | 50.1% | ||
| Q1 24 | 12.6% | 47.6% |
| Q4 25 | 2.3% | 15.0% | ||
| Q3 25 | 3.5% | 19.9% | ||
| Q2 25 | 3.3% | 17.9% | ||
| Q1 25 | 3.2% | 15.5% | ||
| Q4 24 | 2.5% | 15.6% | ||
| Q3 24 | 2.3% | 17.8% | ||
| Q2 24 | 2.9% | 17.3% | ||
| Q1 24 | 2.3% | 13.6% |
| Q4 25 | 2.2% | 8.5% | ||
| Q3 25 | 2.7% | 12.8% | ||
| Q2 25 | 2.5% | 11.7% | ||
| Q1 25 | 2.5% | 9.5% | ||
| Q4 24 | 2.3% | 11.0% | ||
| Q3 24 | 2.2% | 12.0% | ||
| Q2 24 | 2.2% | 13.8% | ||
| Q1 24 | 1.7% | 8.4% |
| Q4 25 | $0.75 | $0.33 | ||
| Q3 25 | $0.89 | $0.49 | ||
| Q2 25 | $0.87 | $0.45 | ||
| Q1 25 | $0.74 | $0.33 | ||
| Q4 24 | $0.70 | $0.40 | ||
| Q3 24 | $0.69 | $0.44 | ||
| Q2 24 | $0.66 | $0.50 | ||
| Q1 24 | $0.50 | $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 | $83.5M | $295.0M |
| Total DebtLower is stronger | — | $491.0M |
| Stockholders' EquityBook value | $910.9M | $1.3B |
| Total Assets | $1.7B | $2.9B |
| Debt / EquityLower = less leverage | — | 0.39× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $83.5M | $295.0M | ||
| Q3 25 | $124.9M | $255.0M | ||
| Q2 25 | $126.2M | $272.0M | ||
| Q1 25 | $146.3M | $267.0M | ||
| Q4 24 | $110.5M | $298.0M | ||
| Q3 24 | $145.0M | $327.0M | ||
| Q2 24 | $185.5M | $295.0M | ||
| Q1 24 | $159.1M | $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 | $910.9M | $1.3B | ||
| Q3 25 | $914.0M | $1.2B | ||
| Q2 25 | $906.4M | $1.1B | ||
| Q1 25 | $901.7M | $970.0M | ||
| Q4 24 | $900.7M | $904.0M | ||
| Q3 24 | $920.9M | $872.0M | ||
| Q2 24 | $924.3M | $769.0M | ||
| Q1 24 | $944.1M | $671.0M |
| Q4 25 | $1.7B | $2.9B | ||
| Q3 25 | $1.7B | $2.9B | ||
| Q2 25 | $1.8B | $2.9B | ||
| Q1 25 | $1.7B | $2.9B | ||
| Q4 24 | $1.7B | $2.8B | ||
| Q3 24 | $1.8B | $2.9B | ||
| Q2 24 | $1.8B | $2.7B | ||
| Q1 24 | $1.8B | $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 | $30.8M | $144.0M |
| Free Cash FlowOCF − Capex | $28.9M | $86.0M |
| FCF MarginFCF / Revenue | 3.8% | 10.9% |
| Capex IntensityCapex / Revenue | 0.3% | 7.4% |
| Cash ConversionOCF / Net Profit | 1.87× | 2.15× |
| TTM Free Cash FlowTrailing 4 quarters | — | $403.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.8M | $144.0M | ||
| Q3 25 | $23.2M | $155.0M | ||
| Q2 25 | — | $147.0M | ||
| Q1 25 | $66.1M | $154.0M | ||
| Q4 24 | $-6.2M | $130.0M | ||
| Q3 24 | $44.8M | $150.0M | ||
| Q2 24 | — | $103.0M | ||
| Q1 24 | $160.2M | $141.0M |
| Q4 25 | $28.9M | $86.0M | ||
| Q3 25 | $20.8M | $109.0M | ||
| Q2 25 | — | $105.0M | ||
| Q1 25 | $64.6M | $103.0M | ||
| Q4 24 | $-8.2M | $72.0M | ||
| Q3 24 | $42.5M | $84.0M | ||
| Q2 24 | — | $47.0M | ||
| Q1 24 | $157.7M | $84.0M |
| Q4 25 | 3.8% | 10.9% | ||
| Q3 25 | 2.8% | 13.9% | ||
| Q2 25 | — | 13.5% | ||
| Q1 25 | 9.2% | 14.6% | ||
| Q4 24 | -1.1% | 9.7% | ||
| Q3 24 | 5.5% | 11.5% | ||
| Q2 24 | — | 6.4% | ||
| Q1 24 | 21.0% | 12.5% |
| Q4 25 | 0.3% | 7.4% | ||
| Q3 25 | 0.3% | 5.9% | ||
| Q2 25 | 0.3% | 5.4% | ||
| Q1 25 | 0.2% | 7.2% | ||
| Q4 24 | 0.3% | 7.8% | ||
| Q3 24 | 0.3% | 9.0% | ||
| Q2 24 | 0.2% | 7.7% | ||
| Q1 24 | 0.3% | 8.5% |
| Q4 25 | 1.87× | 2.15× | ||
| Q3 25 | 1.17× | 1.55× | ||
| Q2 25 | — | 1.62× | ||
| Q1 25 | 3.79× | 2.30× | ||
| Q4 24 | -0.36× | 1.60× | ||
| Q3 24 | 2.64× | 1.70× | ||
| Q2 24 | — | 1.02× | ||
| Q1 24 | 12.51× | 2.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
ULS
| Industrial | $352.0M | 45% |
| Ongoing Certification Services | $259.0M | 33% |
| Software And Advisory | $102.0M | 13% |
| Software | $75.0M | 10% |
