Testing & certification Industrial adjusted EBITDA margin measures Industrial segment adjusted EBITDA as a percentage of segment revenue.
UL Solutions reported a 32.3% Industrial adjusted EBITDA margin in the second quarter of 2026, compared with 32.4% a year earlier. Industrial adjusted EBITDA was $130M on $402M of revenue.
Margin remained high despite organic growth
Industrial organic revenue grew 7.2%, while adjusted EBITDA margin was essentially flat year over year.
That combination separates top-line growth from conversion.
Adjusted EBITDA is issuer-defined
UL Solutions adds back items including depreciation and amortization, stock-based compensation, and restructuring where applicable.
Compare it with Industrial organic revenue growth and non-certification testing revenue mix.
Primary source: UL Solutions Q2 2026 SEC-filed earnings release.
Part of the Testing, Inspection & Certification Economics
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- ULSOpen operating-model research →10 of 10 reviewed concepts in Testing, Inspection & Certification EconomicsSegment adjusted EBITDA conversion3 of 3 bridge concepts supportedContinue through this bridge:Consumer Adjusted EBITDA MarginRisk & Compliance Software Margin
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Compare Industrial adjusted EBITDA margin separately from organic growth and issuer-specific non-GAAP add-backs.
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