WallStSmart

SMX (Security Matters) Public Limited Company Class A Ordinary Shares (SMX)vsUL Solutions Inc. (ULS)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

ULS leads profitability with a 11.3% profit margin vs 0.0%. ULS earns a higher WallStSmart Score of 62/100 (C+).

SMX

Avoid

23

out of 100

Grade: F

Growth: 4.3Profit: 3.0Value: 5.0Quality: 3.0
Piotroski: 2/9Altman Z: -19.27

ULS

Buy

62

out of 100

Grade: C+

Growth: 7.3Profit: 8.0Value: 3.7Quality: 6.5
Piotroski: 5/9Altman Z: 2.41

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

SMX1 strengths · Avg: 10.0/10
Price/BookValuation
0.1x10/10

Reasonable price relative to book value

ULS2 strengths · Avg: 8.5/10
Return on EquityProfitability
26.5%9/10

Every $100 of equity generates 26 in profit

EPS GrowthGrowth
36.4%8/10

Earnings expanding 36.4% YoY

Areas to Watch

SMX4 concerns · Avg: 3.5/10
Revenue GrowthGrowth
0.0%4/10

0.0% revenue growth

EPS GrowthGrowth
0.0%4/10

0.0% earnings growth

Market CapQuality
$9.04M3/10

Smaller company, higher risk/reward

Profit MarginProfitability
0.0%3/10

0.0% margin — thin

ULS3 concerns · Avg: 3.3/10
PEG RatioValuation
2.244/10

Expensive relative to growth rate

Price/BookValuation
14.8x4/10

Trading at 14.8x book value

P/E RatioValuation
57.3x2/10

Premium valuation, high expectations priced in

Comparative Analysis Report

WallStSmart Research

Bull Case : SMX

The strongest argument for SMX centers on Price/Book.

Bull Case : ULS

The strongest argument for ULS centers on Return on Equity, EPS Growth.

Bear Case : SMX

The primary concerns for SMX are Revenue Growth, EPS Growth, Market Cap.

Bear Case : ULS

The primary concerns for ULS are PEG Ratio, Price/Book, P/E Ratio. A P/E of 57.3x leaves little room for execution misses.

Key Dynamics to Monitor

ULS carries more volatility with a beta of 0.62 — expect wider price swings.

ULS is growing revenue faster at 7.5% — sustainability is the question.

ULS generates stronger free cash flow (150M), providing more financial flexibility.

Monitor SPECIALTY BUSINESS SERVICES industry trends, competitive dynamics, and regulatory changes.

Bottom Line

ULS scores higher overall (62/100 vs 23/100). Both earn "Buy" and "Avoid" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

SMX (Security Matters) Public Limited Company Class A Ordinary Shares

INDUSTRIALS · SPECIALTY BUSINESS SERVICES · USA

SMX (Security Matters) Public Limited Company engages in the development and commercialization of track and trace technologies for various industries in Australia. The company is headquartered in Melbourne, Australia.

UL Solutions Inc.

INDUSTRIALS · SPECIALTY BUSINESS SERVICES · USA

UL Solutions Inc. provides safety science services globally. The company is headquartered in Northbrook, Illinois with additional offices in North America, Asia Pacific, Africa, Europe, Latin America, and Middle East.

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