You won’t get perfectly stable voltage from a lead-acid battery. While you might get 13.2 volts at full charge (given a low load), it will drop by up to 2 volts over the discharge. It’s not as dramatic as a lithium-ion battery, but it’s still a significant drop.

That said, you’re right that to get a proper reading you need to measure the specific gravity of the acid, which let’s face it: ain’t gonna happen in a UPS solution. UPS devices do give a capacity readout, though, which they must be estimating from the battery voltage.