NASDAQ : SOLS
Solstice Advanced Materials, Inc. — Financial statements
Materials · Specialty Chemicals · United States
Last price 62.56 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 9.94B
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Financial statements
Solstice Advanced Materials, Inc. (SOLS) reported revenue of 4.09B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | 4.09B | 3.89B | 3.77B | 3.65B | 3.59B |
| Cost of Revenue | 2.84B | 2.64B | 2.46B | 2.37B | 2.18B |
| Gross Profit | 1.25B | 1.25B | 1.31B | 1.28B | 1.40B |
| Selling, General & Admin | 454.00M | 422.00M | 394.00M | 380.00M | 357.00M |
| Research & Development | 105.00M | 97.00M | 83.00M | 81.00M | 79.00M |
| Operating Expenses | 559.00M | 519.00M | 477.00M | 461.00M | 436.00M |
| Operating Income | 695.00M | 731.00M | 829.00M | 822.00M | 967.00M |
| Interest Expense | -78.00M | -28.00M | -13.00M | -16.00M | -21.00M |
| Earnings From Equity Investments | 19.00M | 19.00M | 19.00M | 17.00M | 21.00M |
| Other Non Operating Income (Expenses) | 42.00M | 42.00M | -12.00M | -8.00M | -24.00M |
| EBT Excluding Unusual Items | 678.00M | 764.00M | 823.00M | 815.00M | 943.00M |
| Other Unusual Items | -106.00M | -117.00M | -26.00M | -1.00M | |
| Pretax Income | 572.00M | 647.00M | 797.00M | 814.00M | 943.00M |
| Income Tax Expense | 287.00M | 362.00M | 192.00M | 195.00M | 211.00M |
| Earnings From Continuing Operations | 285.00M | 285.00M | 605.00M | 619.00M | 732.00M |
| Minority Interest in Earnings | -75.00M | -48.00M | -11.00M | 2.00M | -14.00M |
| Net Income | 210.00M | 237.00M | 594.00M | 621.00M | 718.00M |
| Net Income to Common | 210.00M | 237.00M | 594.00M | 621.00M | 718.00M |
| Shares Outstanding (Basic) | 158.75M | 158.70M | 158.70M | 158.70M | |
| Shares Outstanding (Diluted) | 159.20M | 158.90M | 158.70M | 158.70M | |
| EPS (Basic) | 1.32 | 1.49 | 3.74 | 3.91 | |
| EPS (Diluted) | 1.31 | 1.49 | 3.74 | 3.91 | |
| Free Cash Flow | 195.00M | 119.00M | 546.00M | 461.00M | 505.00M |
| Free Cash Flow Per Share | 1.23 | 0.75 | 3.44 | 2.90 | |
| Gross Margin | 30.62% | 32.17% | 34.64% | 35.16% | 39.11% |
| Operating Margin | 16.97% | 18.81% | 21.99% | 22.53% | 26.96% |
| Profit Margin | 5.13% | 6.10% | 15.76% | 17.02% | 20.02% |
| Free Cash Flow Margin | 4.76% | 3.06% | 14.48% | 12.63% | 14.08% |
| EBITDA | 892.00M | 927.00M | 1.01B | 995.00M | 1.12B |
| EBITDA Margin | 21.78% | 23.86% | 26.71% | 27.27% | 31.11% |
| D&A For EBITDA | 197.00M | 196.00M | 178.00M | 173.00M | 149.00M |
| EBIT | 695.00M | 731.00M | 829.00M | 822.00M | 967.00M |
| EBIT Margin | 16.97% | 18.81% | 21.99% | 22.53% | 26.96% |
| Effective Tax Rate | 50.18% | 55.95% | 24.09% | 23.96% | 22.38% |
| Revenue as Reported | 4.09B | 3.89B | 3.77B | 3.65B | 3.59B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 750.00M | 534.00M | 661.00M | 606.00M | |
| Cash & Short-Term Investments | 750.00M | 534.00M | 661.00M | 606.00M | |
| Accounts Receivable | 671.00M | 645.00M | 569.00M | 620.00M | |
| Receivables | 985.00M | 945.00M | 569.00M | 620.00M | |
| Inventory | 666.00M | 715.00M | 558.00M | 552.00M | |
| Other Current Assets | 167.00M | 194.00M | 73.00M | 92.00M | |
| Total Current Assets | 2.57B | 2.39B | 1.86B | 1.87B | |
| Property, Plant & Equipment | 2.13B | 2.14B | 1.84B | 1.75B | |
| Long-Term Investments | 174.00M | 162.00M | 146.00M | 130.00M | |
| Goodwill | 817.00M | 820.00M | 806.00M | 814.00M | |
| Other Intangible Assets | 47.00M | 71.00M | 41.00M | 47.00M | |
| Long-Term Deferred Tax Assets | 6.00M | 6.00M | 3.00M | 2.00M | |
| Long-Term Deferred Charges | 6.00M | ||||
| Other Long-Term Assets | 180.00M | 76.00M | 47.00M | 48.00M | |
| Total Assets | 5.92B | 5.67B | 5.00B | 4.66B | |
| Accounts Payable | 942.00M | 1.03B | 822.00M | 772.00M | |
| Accrued Expenses | 468.00M | 237.00M | 128.00M | 139.00M | |
| Current Portion of Long-Term Debt | 336.00M | 324.00M | 20.00M | ||
| Current Portion of Leases | 14.00M | 32.00M | 46.00M | 64.00M | |
| Current Income Taxes Payable | 31.00M | ||||
| Current Unearned Revenue | 3.00M | 6.00M | 46.00M | ||
| Other Current Liabilities | 86.00M | 81.00M | 53.00M | ||
| Total Current Liabilities | 1.76B | 1.71B | 1.08B | 1.12B | |
| Long-Term Debt | 1.98B | 1.98B | 293.00M | 32.00M | |
| Long-Term Leases | 95.00M | 173.00M | 101.00M | 138.00M | |
| Long-Term Unearned Revenue | 38.00M | 33.00M | 13.00M | ||
| Pension & Post-Retirement Benefits | 75.00M | 57.00M | 58.00M | ||
| Long-Term Deferred Tax Liabilities | 245.00M | 233.00M | 179.00M | 184.00M | |
| Other Long-Term Liabilities | 249.00M | 80.00M | 76.00M | 79.00M | |
| Total Liabilities | 4.33B | 4.30B | 1.82B | 1.63B | |
| Common Stock | 2.00M | 2.00M | 3.47B | 3.27B | |
| Additional Paid-In Capital | 1.51B | 1.50B | |||
| Retained Earnings | 220.00M | 41.00M | |||
| Comprehensive Income & Other | -142.00M | -127.00M | -213.00M | -158.00M | |
| Total Common Equity | 1.59B | 1.41B | 3.26B | 3.11B | |
| Minority Interest | 2.00M | -34.00M | -76.00M | -83.00M | |
| Shareholders' Equity | 1.59B | 1.38B | 3.18B | 3.03B | |
| Total Liabilities & Equity | 5.92B | 5.67B | 5.00B | 4.66B | |
| Total Debt | 2.43B | 2.51B | 440.00M | 254.00M | |
| Net Cash (Debt) | -1.68B | -1.98B | 221.00M | 352.00M | |
| Net Cash Per Share | -10.53 | -12.45 | 1.39 | 2.22 | |
| Filing Date Shares Outstanding | 158.85M | 158.75M | 158.70M | 158.70M | |
| Total Common Shares Outstanding | 158.84M | 158.75M | 158.70M | 158.70M | |
| Working Capital | 808.00M | 675.00M | 778.00M | 745.00M | |
| Book Value Per Share | 9.98 | 8.89 | 20.53 | ||
| Tangible Book Value | 722.00M | 520.00M | 2.41B | 2.25B | |
| Tangible Book Value Per Share | 4.55 | 3.28 | 15.19 | ||
| Land | 27.00M | 24.00M | 26.00M | ||
| Buildings | 731.00M | 623.00M | 612.00M | ||
| Machinery | 3.45B | 3.22B | 3.04B | ||
| Construction In Progress | 430.00M | 285.00M | 254.00M | ||
| Order Backlog | 2.20B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Net Income | 210.00M | 237.00M | 594.00M | 621.00M | 718.00M |
| Depreciation & Amortization | 197.00M | 196.00M | 178.00M | 173.00M | 149.00M |
| Other Amortization | 24.00M | 24.00M | 39.00M | 48.00M | 4.00M |
| Loss (Gain) From Sale of Assets | -15.00M | -9.00M | |||
| Loss (Gain) on Equity Investments | -17.00M | -19.00M | -19.00M | -17.00M | -21.00M |
| Stock-Based Compensation | 26.00M | 27.00M | 17.00M | 18.00M | 17.00M |
| Other Operating Activities | 149.00M | 123.00M | 5.00M | -38.00M | 22.00M |
| Change in Accounts Receivable | -50.00M | -51.00M | 40.00M | -134.00M | -54.00M |
| Change in Inventory | -33.00M | -146.00M | -16.00M | -78.00M | -120.00M |
| Change in Accounts Payable | 46.00M | 77.00M | 12.00M | 78.00M | 54.00M |
| Change in Unearned Revenue | 5.00M | 2.00M | -20.00M | 53.00M | -3.00M |
| Change in Other Net Operating Assets | 30.00M | 12.00M | 45.00M | -7.00M | |
| Operating Cash Flow | 606.00M | 455.00M | 842.00M | 760.00M | 759.00M |
| Capital Expenditures | -411.00M | -336.00M | -296.00M | -299.00M | -254.00M |
| Sale of Property, Plant & Equipment | 23.00M | 11.00M | |||
| Sale (Purchase) of Intangibles | -16.00M | -16.00M | |||
| Other Investing Activities | -1.00M | -2.00M | -36.00M | -51.00M | |
| Investing Cash Flow | -427.00M | -330.00M | -298.00M | -324.00M | -305.00M |
| Long-Term Debt Issued | 2.00B | ||||
| Long-Term Debt Repaid | -13.00M | -39.00M | -33.00M | -24.00M | |
| Net Debt Issued (Repaid) | 1.99B | 1.99B | -39.00M | -33.00M | -24.00M |
| Common Dividends Paid | -1.52B | -1.50B | |||
| Other Financing Activities | -715.00M | -722.00M | -414.00M | -345.00M | -307.00M |
| Financing Cash Flow | -254.00M | -235.00M | -453.00M | -378.00M | -331.00M |
| Foreign Exchange Rate Adjustments | -47.00M | -15.00M | -36.00M | -1.00M | -37.00M |
| Miscellaneous Cash Flow Adjustments | -1.00M | ||||
| Net Cash Flow | -122.00M | -126.00M | 55.00M | 57.00M | 86.00M |
| Free Cash Flow | 195.00M | 119.00M | 546.00M | 461.00M | 505.00M |
| Free Cash Flow Margin | 4.76% | 3.06% | 14.48% | 12.63% | 14.08% |
| Free Cash Flow Per Share | 1.23 | 0.75 | 3.44 | 2.90 | |
| Levered Free Cash Flow | -27.38M | 375.00K | 508.00M | ||
| Unlevered Free Cash Flow | 21.38M | 17.88M | 516.12M | ||
| Cash Interest Paid | 4.00M | 4.00M | 10.00M | 17.00M | 20.00M |
| Cash Income Tax Paid | 50.00M | 50.00M | 22.00M | 24.00M | 11.00M |
| Change in Working Capital | 17.00M | -118.00M | 28.00M | -36.00M | -130.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Market Capitalization | 9.62B | 7.71B | |||
| Enterprise Value | 11.29B | 7.68B | |||
| Last Close Price | 60.55 | 48.43 | |||
| PE Ratio | 46.13 | 32.54 | |||
| Forward PE | 19.17 | 18.65 | |||
| PS Ratio | 2.35 | 1.98 | |||
| PB Ratio | 6.06 | 5.60 | |||
| P/TBV Ratio | 13.32 | 14.83 | |||
| P/FCF Ratio | 49.32 | 64.80 | |||
| P/OCF Ratio | 15.87 | 16.95 | |||
| PEG Ratio | 0.72 | ||||
| EV/Sales Ratio | 2.76 | 1.98 | |||
| EV/EBITDA Ratio | 12.66 | 8.28 | |||
| EV/EBIT Ratio | 16.25 | 10.51 | |||
| EV/FCF Ratio | 57.92 | 64.53 | |||
| Debt / Equity Ratio | 1.53 | 1.82 | 0.14 | 0.08 | |
| Debt / EBITDA Ratio | 2.72 | 2.62 | 0.42 | 0.25 | |
| Debt / FCF Ratio | 12.44 | 21.12 | 0.81 | 0.55 | |
| Net Debt / Equity Ratio | 1.05 | 1.44 | -0.07 | -0.12 | |
| Net Debt / EBITDA Ratio | 1.88 | 2.13 | -0.22 | -0.35 | |
| Net Debt / FCF Ratio | 8.60 | 16.63 | -0.41 | -0.76 | |
| Asset Turnover | 0.72 | 0.73 | 0.78 | ||
| Inventory Turnover | 4.32 | 4.14 | 4.44 | ||
| Quick Ratio | 0.81 | 0.69 | 1.14 | 1.09 | |
| Current Ratio | 1.46 | 1.39 | 1.72 | 1.66 | |
| Return on Equity (ROE) | 11.26% | 12.50% | 19.48% | ||
| Return on Assets (ROA) | 7.64% | 8.56% | 10.73% | ||
| Return on Invested Capital (ROIC) | 10.61% | 10.20% | 22.33% | 23.36% | |
| Return on Capital Employed (ROCE) | 16.70% | 18.50% | 21.10% | 23.30% | |
| Earnings Yield | 2.17% | 3.07% | |||
| FCF Yield | 2.03% | 1.54% | |||
| Payout Ratio | 17.14% | 632.91% | |||
| Buyback Yield / Dilution | -0.32% | -0.13% |