Rentokil Initial Plc ADR (RTO) is slightly undervalued and UL Solutions Inc (ULS) is overvalued.
Against our estimates of intrinsic value, RTO trades at the wider discount: a margin of safety of +19%, against -56% for ULS.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.3% (average of 3 methods) values the shares at $26.50; the price of $21.37 is 19% below that value, and 79% of that value comes from beyond year five.
Leak Score 35/100 on 3 of 12 signals
Discounting its cash flows at 8.6% (average of 3 methods) values the shares at $42.69; the price of $66.65 is 56% above that value, and 77% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
| Metric | RTO | ULS |
|---|---|---|
| Verdict | Slightly undervalued | Overvalued |
| Price | $21.37 | $66.65 |
| Intrinsic value | $26.50 | $42.69 |
| Margin of safety | +19% | -56% |
| Leak Score | 35/100 (3/12) | 59/100 (3/12) |
| Market cap | $10.7B | $13.5B |
| Revenue growth, 5 years | 14.1% | 5.8% |
| Operating margin | 13.9% | 19.0% |
| Net margin | 6.7% | 16.0% |
| Return on equity | 6.0% | 37.5% |
| Debt to equity | 1.10 | 0.30 |
| P/E | 22.7x | 26.9x |
| Forward P/E | 13.8x | 25.7x |
| P/B | 1.9x | 8.4x |
| Dividend yield | 3.0% | 0.9% |