Income StatementBalance SheetCash FlowSegments
UL Solutions logo

UL Solutions Business Segments

Business, geographic, and product segment breakdowns

UL Solutions generates $3.1B in annual revenue across 3 key segments: Consumer ($1.3B), Industrial ($1.4B), and Risk & Compliance Software ($65.0M). The company-wide operating margin is 17.74%. Based on the Q1 2026 filing.

Consumer (TTM)$1.3BIndustrial (TTM)$1.4BRisk & Compliance Software$65.0M
Latest FilingQ1 2026
Report Date2026-05-05
Market Cap$20.0B
P/E Ratio57.02
ROE30.58%

Products & Services

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Ongoing Certification Services$248.0M$245.0M$250.0M$252.0M$259.0M$265.0M
Certification Testing$199.0M$189.0M$215.0M$224.0M$223.0M$211.0M
Non-certification Testing and Other Services$221.0M$203.0M$241.0M$235.0M$232.0M$209.0M
Software$71.0M$68.0M$70.0M$72.0M$75.0M$73.0M

Geographic

Total

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Asia Pacific$109.0M———$132.0M—
Europe, Middle East and Africa$109.0M———$111.0M—
Other Americas$26.0M———$25.0M—

Business Segments

D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Consumer$20.0M$19.0M$20.0M$20.0M$22.0M$21.0M
Industrial$14.0M$16.0M$14.0M$13.0M$15.0M$16.0M
Risk & Compliance Software—$10.0M———$10.0M

Effect of changes in foreign exchange rates

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Industrial-$7.0M$3.0M$6.0M—$1.0M-$3.0M
Consumer-$7.0M$3.0M$6.0M——-$2.0M
Risk & Compliance Software—————$0.0

Employee compensation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Consumer$179.0M$181.0M$193.0M$189.0M$186.0M$178.0M
Industrial$151.0M$165.0M$155.0M$155.0M$154.0M$176.0M
Risk & Compliance Software—$42.0M———$41.0M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Industrial$340.0M$344.0M$350.0M$349.0M$377.0M$374.0M
Consumer$225.0M$228.0M$234.0M$234.0M$234.0M$232.0M
Risk & Compliance Software————$45.0M$37.0M

Goodwill impairment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Consumer$0.0$0.0$0.0$0.0$0.0—
Industrial$0.0$0.0$0.0$0.0$0.0—
Software and Advisory$0.0$0.0$0.0$0.0$0.0—

Operating Income (Loss)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Industrial$88.0M$83.0M$98.0M$104.0M$101.0M$101.0M
Consumer$22.0M$22.0M$40.0M$44.0M$12.0M$30.0M
Risk & Compliance Software—$4.0M———$7.0M

Restructuring

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Consumer-$250.0K-$1.0M———-$1.0M
Industrial$0.0$0.0———$1.0M
Risk & Compliance Software—$0.0———$0.0
Software and Advisory$0.0$500.0K$500.0K$500.0K$500.0K—

Restructuring and Related Cost, Cost Incurred to Date

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Consumer————$28.0M$27.0M
Industrial————$7.0M$8.0M
Risk & Compliance Software—————$2.0M
Software and Advisory————$2.0M—

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Industrial$328.0M$340.0M$338.0M$343.0M$352.0M$375.0M
Consumer$309.0M$304.0M$340.0M$340.0M$335.0M$318.0M
Risk & Compliance Software—$61.0M———$65.0M

Services and materials

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Consumer$89.0M$83.0M$87.0M$87.0M$89.0M$90.0M
Industrial$75.0M$76.0M$71.0M$71.0M$75.0M$81.0M
Risk & Compliance Software—$5.0M———$7.0M

Total

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Consumer$12.0M$12.0M$9.0M$6.0M$10.0M$19.0M
Industrial$22.0M$11.0M$10.0M$17.0M$12.0M$11.0M
Risk & Compliance Software—$7.0M———$10.0M