Filing Flows › UL Solutions (ULS) › Q3 2026 › vs Q3 2025
UL Solutions (ULS) Q3 2026 vs Q3 2025 (year over year)
UL Solutions's revenue rose $40.0M (+5%) from $783M in Q3 2025 to $823M in Q3 2026. The biggest changes: Certification Testing +$24.0M (+11%); Ongoing Certification Services +$18.0M (+7%); Software −$11.0M (-15%). Operating margin 19.7% against 19.9% (-0.2 pts).
UL Solutions, Q3 2026: revenue $823M (+5% year over year), operating margin 19.7%, net earnings $108M, operating cash flow $215M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 19.7% | 19.9% | -0.2 pts |
| Net margin | 13.1% | 12.8% | +0.4 pts |
| Free cash flow margin | 18.7% | 13.9% | +4.8 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Ongoing Certification Services | $270M | $252M | $18.0M | +7% |
| Certification Testing | $248M | $224M | $24.0M | +11% |
| Non-certification Testing and Other Services | $244M | $235M | $9.0M | +4% |
| Software | $61.0M | $72.0M | −$11.0M | -15% |
| Revenue | $823M | $783M | $40.0M | +5% |
| Operating profit | $162M | $156M | $6.0M | +4% |
| Costs & expenses | $661M | $627M | $34.0M | +5% |
| Pre-tax earnings | $160M | $146M | $14.0M | +10% |
| Cost of revenue | $400M | $389M | $11.0M | +3% |
| SG&A | $260M | $238M | $22.0M | +9% |
| Net earnings | $108M | $100M | $8.0M | +8% |
| Minority interests | $9.0M | $6.0M | $3.0M | +50% |
| Income tax | $43.0M | $40.0M | $3.0M | +7% |
| Depreciation & amortization | $49.0M | $46.0M | $3.0M | +7% |
| Share-based compensation | $23.0M | $15.0M | $8.0M | +53% |
| Working capital & other | $35.0M | −$6.0M | $41.0M | — |
| Operating cash flow | $215M | $155M | $60.0M | +39% |
| Free cash flow (OCF − capex) | $154M | $109M | $45.0M | +41% |
| Capital expenditures | $61.0M | $46.0M | $15.0M | +33% |
Questions
How much did UL Solutions's revenue grow year over year in Q3 2026?
UL Solutions's revenue rose $40.0M (+5%) from $783M in Q3 2025 to $823M in Q3 2026.
What drove UL Solutions's revenue change in Q3 2026?
Certification Testing +$24.0M (+11%); Ongoing Certification Services +$18.0M (+7%); Software −$11.0M (-15%).