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Side-by-side financial comparison of SouthState Bank Corp (SSB) 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 $661.7M, roughly 1.2× SouthState Bank Corp). SouthState Bank Corp runs the higher net margin — 34.1% vs 8.5%, a 25.6% gap on every dollar of revenue. Over the past eight quarters, SouthState Bank Corp's revenue compounded faster (37.4% CAGR vs 8.5%).
SouthState Bank, based in Winter Haven, Florida, is an American bank and a subsidiary of SouthState Corporation, a bank holding company. As of May 26, 2025, the company had 371 branches in South Carolina, North Carolina, Georgia, Florida, Alabama, Virginia, Colorado and Texas.
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.
SSB vs ULS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $661.7M | $789.0M |
| Net Profit | $225.8M | $67.0M |
| Gross Margin | — | 49.7% |
| Operating Margin | 15.1% | 15.0% |
| Net Margin | 34.1% | 8.5% |
| Revenue YoY | — | 6.8% |
| Net Profit YoY | 153.5% | -17.3% |
| EPS (diluted) | $2.28 | $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.
| Q1 26 | $661.7M | — | ||
| Q4 25 | $581.1M | $789.0M | ||
| Q3 25 | $599.7M | $783.0M | ||
| Q2 25 | $577.9M | $776.0M | ||
| Q1 25 | $544.5M | $705.0M | ||
| Q4 24 | $369.8M | $739.0M | ||
| Q3 24 | $351.5M | $731.0M | ||
| Q2 24 | $350.3M | $730.0M |
| Q1 26 | $225.8M | — | ||
| Q4 25 | $247.7M | $67.0M | ||
| Q3 25 | $246.6M | $100.0M | ||
| Q2 25 | $215.2M | $91.0M | ||
| Q1 25 | $89.1M | $67.0M | ||
| Q4 24 | $144.2M | $81.0M | ||
| Q3 24 | $143.2M | $88.0M | ||
| Q2 24 | $132.4M | $101.0M |
| Q1 26 | — | — | ||
| 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 | 15.1% | — | ||
| Q4 25 | 54.3% | 15.0% | ||
| Q3 25 | 53.6% | 19.9% | ||
| Q2 25 | 48.8% | 17.9% | ||
| Q1 25 | 22.3% | 15.5% | ||
| Q4 24 | 50.7% | 15.6% | ||
| Q3 24 | 53.1% | 17.8% | ||
| Q2 24 | 49.3% | 17.3% |
| Q1 26 | 34.1% | — | ||
| Q4 25 | 42.6% | 8.5% | ||
| Q3 25 | 41.1% | 12.8% | ||
| Q2 25 | 37.2% | 11.7% | ||
| Q1 25 | 16.4% | 9.5% | ||
| Q4 24 | 39.0% | 11.0% | ||
| Q3 24 | 40.7% | 12.0% | ||
| Q2 24 | 37.8% | 13.8% |
| Q1 26 | $2.28 | — | ||
| Q4 25 | $2.47 | $0.33 | ||
| Q3 25 | $2.42 | $0.49 | ||
| Q2 25 | $2.11 | $0.45 | ||
| Q1 25 | $0.87 | $0.33 | ||
| Q4 24 | $1.88 | $0.40 | ||
| Q3 24 | $1.86 | $0.44 | ||
| Q2 24 | $1.73 | $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 | $2.9B | $295.0M |
| Total DebtLower is stronger | — | $491.0M |
| Stockholders' EquityBook value | $9.0B | $1.3B |
| Total Assets | $68.0B | $2.9B |
| Debt / EquityLower = less leverage | — | 0.39× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.9B | — | ||
| Q4 25 | — | $295.0M | ||
| Q3 25 | — | $255.0M | ||
| Q2 25 | — | $272.0M | ||
| Q1 25 | — | $267.0M | ||
| Q4 24 | — | $298.0M | ||
| Q3 24 | — | $327.0M | ||
| Q2 24 | — | $295.0M |
| Q1 26 | — | — | ||
| 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 26 | $9.0B | — | ||
| Q4 25 | $9.1B | $1.3B | ||
| Q3 25 | $9.0B | $1.2B | ||
| Q2 25 | $8.8B | $1.1B | ||
| Q1 25 | $8.6B | $970.0M | ||
| Q4 24 | $5.9B | $904.0M | ||
| Q3 24 | $5.9B | $872.0M | ||
| Q2 24 | $5.7B | $769.0M |
| Q1 26 | $68.0B | — | ||
| Q4 25 | $67.2B | $2.9B | ||
| Q3 25 | $66.0B | $2.9B | ||
| Q2 25 | $65.9B | $2.9B | ||
| Q1 25 | $65.1B | $2.9B | ||
| Q4 24 | $46.4B | $2.8B | ||
| Q3 24 | $46.1B | $2.9B | ||
| Q2 24 | $45.5B | $2.7B |
| Q1 26 | — | — | ||
| 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× |
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 | — | $144.0M |
| Free Cash FlowOCF − Capex | — | $86.0M |
| FCF MarginFCF / Revenue | — | 10.9% |
| Capex IntensityCapex / Revenue | — | 7.4% |
| Cash ConversionOCF / Net Profit | — | 2.15× |
| TTM Free Cash FlowTrailing 4 quarters | — | $403.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $232.1M | $144.0M | ||
| Q3 25 | $122.4M | $155.0M | ||
| Q2 25 | $72.6M | $147.0M | ||
| Q1 25 | $-126.3M | $154.0M | ||
| Q4 24 | $354.3M | $130.0M | ||
| Q3 24 | $-246.8M | $150.0M | ||
| Q2 24 | $126.8M | $103.0M |
| Q1 26 | — | — | ||
| Q4 25 | $215.5M | $86.0M | ||
| Q3 25 | $101.7M | $109.0M | ||
| Q2 25 | $52.5M | $105.0M | ||
| Q1 25 | $-139.1M | $103.0M | ||
| Q4 24 | $340.9M | $72.0M | ||
| Q3 24 | $-254.2M | $84.0M | ||
| Q2 24 | $117.3M | $47.0M |
| Q1 26 | — | — | ||
| Q4 25 | 37.1% | 10.9% | ||
| Q3 25 | 17.0% | 13.9% | ||
| Q2 25 | 9.1% | 13.5% | ||
| Q1 25 | -25.5% | 14.6% | ||
| Q4 24 | 92.2% | 9.7% | ||
| Q3 24 | -72.3% | 11.5% | ||
| Q2 24 | 33.5% | 6.4% |
| Q1 26 | — | — | ||
| Q4 25 | 2.9% | 7.4% | ||
| Q3 25 | 3.5% | 5.9% | ||
| Q2 25 | 3.5% | 5.4% | ||
| Q1 25 | 2.4% | 7.2% | ||
| Q4 24 | 3.6% | 7.8% | ||
| Q3 24 | 2.1% | 9.0% | ||
| Q2 24 | 2.7% | 7.7% |
| Q1 26 | — | — | ||
| Q4 25 | 0.94× | 2.15× | ||
| Q3 25 | 0.50× | 1.55× | ||
| Q2 25 | 0.34× | 1.62× | ||
| Q1 25 | -1.42× | 2.30× | ||
| Q4 24 | 2.46× | 1.60× | ||
| Q3 24 | -1.72× | 1.70× | ||
| Q2 24 | 0.96× | 1.02× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SSB
| Net Interest Income | $561.6M | 85% |
| Noninterest Income | $100.1M | 15% |
ULS
| Industrial | $352.0M | 45% |
| Ongoing Certification Services | $259.0M | 33% |
| Software And Advisory | $102.0M | 13% |
| Software | $75.0M | 10% |
