What is UL Solutions's industrial — goodwill impairment?

UL Solutions (ULS) reported industrial — goodwill impairment of $0 in Q4 2025.

What does industrial — goodwill impairment mean?

The non-cash charge recognized when the carrying amount of goodwill associated with the Industrial segment exceeds its implied fair value. This indicates that the expected future economic benefits from past acquisitions have diminished.

UL Solutions ULS Industrial — Goodwill impairment

Other segment segments

Consumer

$0—

Software and Advisory

$0—

Similar metrics at other companies

STIndustrials — Goodwill, Impairment Loss

$56.43M+50.4%

GNRCCommercial And Industrial — Goodwill Impairment

$0—

VREXIndustrial — Goodwill, Impaired, Accumulated Impairment Loss

$0—

LFUSIndustrial — Goodwill, Impaired, Accumulated Impairment Loss

$48.06M+6.2%

MOG.BIndustrial — Goodwill, accumulated impairment loss

$38.2M0.0%

STIndustrials — Accumulated goodwill impairment

$394.3M+134%

Other financials

Income statement

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Revenue$758.0M+7.5%

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$20.53B+35.1%

Enterprise value$20.81B+32.2%

P/E58.7×+12.2×

P/S6.6×+1.5×

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

See full

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:GoodwillImpairmentLoss.

The official record: UL Solutions’s 10-K, filed February 19, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is UL Solutions's industrial — goodwill impairment?: UL Solutions (ULS) reported industrial — goodwill impairment of $0 in Q4 2025.
What does industrial — goodwill impairment mean?: The non-cash charge recognized when the carrying amount of goodwill associated with the Industrial segment exceeds its implied fair value. This indicates that the expected future economic benefits from past acquisitions have diminished.