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UL Solutions ULS Industrial — Operating Income (Loss)

Other segment segments

Consumer
$30M+36.4%
Risk & Compliance Software
$7M

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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

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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:OperatingIncomeLoss.

The official record: UL Solutions’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is UL Solutions's industrial — operating income (loss)?
UL Solutions (ULS) reported industrial — operating income (loss) of $101M in Q1 2026.
How has UL Solutions's industrial — operating income (loss) changed year-over-year?
UL Solutions's industrial — operating income (loss) increased by 21.7% year-over-year, from $83M to $101M.
What is the long-term trend for UL Solutions's industrial — operating income (loss)?
Over 3 years (2022 to 2025), UL Solutions's industrial — operating income (loss) has grown at a 10.5% compound annual growth rate (CAGR), from $286M to $386M.
What does industrial — operating income (loss) mean?
The profit or loss generated by the Industrial segment after deducting all direct and allocated operating expenses from revenue. This is the key metric for evaluating the core operational profitability and management effectiveness of the industrial business.