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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$19.8B
P/E Ratio56.67
ROE30.58%

Products & Services

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Ongoing Certification Services$248M$245M$250M$252M$259M$265M
Certification Testing$199M$189M$215M$224M$223M$211M
Non-certification Testing and Other Services$221M$203M$241M$235M$232M$209M
Software$71M$68M$70M$72M$75M$73M

Geographic

Total

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Asia Pacific$109M———$132M—
Europe, Middle East and Africa$109M———$111M—
Other Americas$26M———$25M—

Business Segments

D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Consumer$20M$19M$20M$20M$22M$21M
Industrial$14M$16M$14M$13M$15M$16M
Risk & Compliance Software—$10M———$10M

Effect of changes in foreign exchange rates

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Industrial-$7M$3M$6M—$1M-$3M
Consumer-$7M$3M$6M——-$2M
Risk & Compliance Software—————$0

Employee compensation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Consumer$179M$181M$193M$189M$186M$178M
Industrial$151M$165M$155M$155M$154M$176M
Risk & Compliance Software—$42M———$41M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Industrial$340M$344M$350M$349M$377M$374M
Consumer$225M$228M$234M$234M$234M$232M
Risk & Compliance Software————$45M$37M

Goodwill impairment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Consumer$0$0$0$0$0—
Industrial$0$0$0$0$0—
Software and Advisory$0$0$0$0$0—

Operating Income (Loss)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Industrial$88M$83M$98M$104M$101M$101M
Consumer$22M$22M$40M$44M$12M$30M
Risk & Compliance Software—$4M———$7M

Restructuring

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Consumer-$250K-$1M———-$1M
Industrial$0$0———$1M
Risk & Compliance Software—$0———$0
Software and Advisory$0$500K$500K$500K$500K—

Restructuring and Related Cost, Cost Incurred to Date

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Consumer————$28M$27M
Industrial————$7M$8M
Risk & Compliance Software—————$2M
Software and Advisory————$2M—

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Industrial$328M$340M$338M$343M$352M$375M
Consumer$309M$304M$340M$340M$335M$318M
Risk & Compliance Software—$61M———$65M

Services and materials

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Consumer$89M$83M$87M$87M$89M$90M
Industrial$75M$76M$71M$71M$75M$81M
Risk & Compliance Software—$5M———$7M

Total

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Consumer$12M$12M$9M$6M$10M$19M
Industrial$22M$11M$10M$17M$12M$11M
Risk & Compliance Software—$7M———$10M