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UL Solutions ULS Total Revenue

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Segments

By product

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Ongoing Certification Services$265M+8.2%
Certification Testing$211M+11.6%
Non-certification Testing and Other Services$209M+3.0%
Software$73M+7.4%

By segment

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Industrial$375M+10.3%
Consumer$318M+4.6%
Risk & Compliance Software$65M

By geography

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Asia Pacific$132M+21.1%
Europe, Middle East and Africa$111M+1.8%
Other Americas$25M-3.8%

Other financials

Income statement

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Gross profit$381.0M+12.1%
Operating income$138.0M+26.6%
Net income$92.0M+37.3%
EPS (diluted)$0.45+36.4%

Balance sheet

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Cash & equivalents$258.0M-3.4%
Total debt$539.0M-36.1%
Total equity$1.3B+36.0%
Total assets$3.0B+2.7%

Cash flow

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Operating cash flow$219.0M+42.2%
CapEx$69.0M+35.3%
Free cash flow$150.0M+45.6%

Valuation

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Market cap$13.07B-2.3%
Enterprise value$13.36B-4.0%
P/E37.4×-3.6×
P/S4.2×-0.3×

Profitability

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Gross margin49.9%+1.3pp
Operating margin17.7%+1.2pp
Net margin11.3%-0.3pp
FCF margin14.5%+4.0pp

Returns & leverage

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Return on equity30.6%-10.5pp
Debt / equity0.4×-0.5×
Current ratio1.2×-0.1×

Where this comes from

Reported directly by UL Solutions in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: UL Solutions’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 4:17 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001901440-26-000012
(in millions, except per share data)Three Months Ended March 31, 2026Three Months Ended March 31, 2025
Revenue$758$705
Cost of revenue377365
Selling, general and administrative expenses243232
Restructuring(1)
Operating income138109
Interest expense(8)(12)
Other expense, net(1)(3)
Income before income taxes12994

ITEM 1. Condensed Consolidated Financial Statements (Unaudited)

FAQ

What is UL Solutions's total revenue?
UL Solutions (ULS) reported total revenue of $758M in Q1 2026.
How has UL Solutions's total revenue changed year-over-year?
UL Solutions's total revenue increased by 7.5% year-over-year, from $705M to $758M.
What is the long-term trend for UL Solutions's total revenue?
Over 3 years (2022 to 2025), UL Solutions's total revenue has grown at a 6.6% compound annual growth rate (CAGR), from $2.52B to $3.05B.
What does total revenue mean?
The aggregate of all revenue from the company's operations — the top line from which all profitability metrics are derived.

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