NYSE : SOLV
Solventum Corporation — Financial statements
Healthcare · Medical Instruments & Supplies · United States
Last price 82.51 USD (Oct 30, 2026, 9:51 AM EDT) · Market cap 14.05B
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Financial statements
Solventum Corporation (SOLV) reported revenue of 8.31B 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 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 8.31B | 8.32B | 8.25B | 8.20B | 8.13B | 8.17B |
| Cost of Revenue | 3.76B | 3.87B | 3.64B | 3.50B | 3.44B | 3.25B |
| Gross Profit | 4.55B | 4.46B | 4.61B | 4.69B | 4.70B | 4.92B |
| Selling, General & Admin | 3.20B | 3.06B | 2.75B | 2.30B | 2.24B | 2.28B |
| Research & Development | 715.00M | 727.00M | 768.00M | 758.00M | 767.00M | 766.00M |
| Operating Expenses | 3.92B | 3.78B | 3.52B | 3.06B | 3.00B | 3.05B |
| Operating Income | 633.00M | 677.00M | 1.09B | 1.63B | 1.69B | 1.88B |
| Interest Expense | -265.00M | -347.00M | -367.00M | |||
| Other Non Operating Income (Expenses) | 3.00M | 2.00M | -57.00M | -21.00M | 7.00M | |
| EBT Excluding Unusual Items | 371.00M | 332.00M | 668.00M | 1.61B | 1.69B | 1.88B |
| Merger & Restructuring Charges | -142.00M | -86.00M | -62.00M | |||
| Gain (Loss) on Sale of Assets | 1.55B | 1.55B | 56.00M | |||
| Other Unusual Items | -82.00M | -82.00M | ||||
| Pretax Income | 1.70B | 1.71B | 606.00M | 1.67B | 1.69B | 1.88B |
| Income Tax Expense | 262.00M | 157.00M | 127.00M | 321.00M | 349.00M | 422.00M |
| Net Income | 1.43B | 1.56B | 479.00M | 1.35B | 1.34B | 1.46B |
| Net Income to Common | 1.43B | 1.56B | 479.00M | 1.35B | 1.34B | 1.46B |
| Shares Outstanding (Basic) | 173.90M | 174.10M | 173.20M | 172.70M | 172.70M | |
| Shares Outstanding (Diluted) | 175.00M | 175.30M | 173.70M | 172.70M | 172.70M | |
| EPS (Basic) | 8.25 | 8.94 | 2.77 | 7.79 | 7.78 | |
| EPS (Diluted) | 8.19 | 8.88 | 2.76 | 7.79 | 7.78 | |
| Free Cash Flow | -118.00M | -10.00M | 805.00M | 1.62B | 1.43B | 1.93B |
| Free Cash Flow Per Share | -0.67 | -0.06 | 4.63 | 9.41 | 8.27 | |
| Gross Margin | 54.78% | 53.57% | 55.88% | 57.25% | 57.75% | 60.25% |
| Operating Margin | 7.62% | 8.13% | 13.23% | 19.91% | 20.81% | 22.95% |
| Profit Margin | 17.26% | 18.69% | 5.80% | 16.42% | 16.52% | 17.87% |
| Free Cash Flow Margin | -1.42% | -0.12% | 9.75% | 19.82% | 17.57% | 23.56% |
| EBITDA | 1.14B | 1.17B | 1.65B | 2.19B | 2.27B | 2.47B |
| EBITDA Margin | 13.71% | 14.01% | 19.95% | 26.75% | 27.92% | 30.25% |
| D&A For EBITDA | 506.00M | 489.00M | 555.00M | 561.00M | 578.00M | 597.00M |
| EBIT | 633.00M | 677.00M | 1.09B | 1.63B | 1.69B | 1.88B |
| EBIT Margin | 7.62% | 8.13% | 13.23% | 19.91% | 20.81% | 22.95% |
| Effective Tax Rate | 15.45% | 9.16% | 20.96% | 19.26% | 20.63% | 22.42% |
| Revenue as Reported | 8.31B | 8.32B | 8.25B | 8.20B | 8.13B | 8.17B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 403.00M | 878.00M | 762.00M | 194.00M | 61.00M | 91.00M |
| Cash & Short-Term Investments | 403.00M | 878.00M | 762.00M | 194.00M | 61.00M | 91.00M |
| Receivables | 1.43B | 1.18B | 1.23B | 1.31B | 1.17B | 1.18B |
| Inventory | 1.04B | 1.07B | 965.00M | 857.00M | 873.00M | 813.00M |
| Other Current Assets | 866.00M | 731.00M | 293.00M | 155.00M | 126.00M | 108.00M |
| Total Current Assets | 3.74B | 3.86B | 3.25B | 2.52B | 2.23B | 2.19B |
| Property, Plant & Equipment | 1.75B | 1.54B | 1.80B | 1.55B | 1.41B | 1.42B |
| Goodwill | 5.63B | 5.70B | 6.38B | 6.54B | 6.43B | 6.67B |
| Other Intangible Assets | 2.41B | 2.59B | 2.54B | 2.90B | 3.25B | 3.66B |
| Long-Term Deferred Tax Assets | 153.00M | |||||
| Other Long-Term Assets | 715.00M | 599.00M | 489.00M | 432.00M | 111.00M | 143.00M |
| Total Assets | 14.24B | 14.29B | 14.46B | 13.94B | 13.59B | 14.07B |
| Accounts Payable | 1.03B | 1.12B | 890.00M | 477.00M | 348.00M | 320.00M |
| Accrued Expenses | 512.00M | 563.00M | 541.00M | 415.00M | 233.00M | 325.00M |
| Current Portion of Long-Term Debt | 200.00M | |||||
| Current Portion of Leases | 2.00M | 70.00M | 87.00M | 29.00M | 27.00M | 29.00M |
| Current Income Taxes Payable | 176.00M | 196.00M | 122.00M | 106.00M | ||
| Current Unearned Revenue | 596.00M | 621.00M | 572.00M | 574.00M | 559.00M | 574.00M |
| Other Current Liabilities | 839.00M | 564.00M | 291.00M | 127.00M | 144.00M | 158.00M |
| Total Current Liabilities | 3.66B | 3.14B | 2.70B | 1.73B | 1.31B | 1.41B |
| Long-Term Debt | 4.58B | 5.04B | 7.81B | |||
| Long-Term Leases | 207.00M | 142.00M | 86.00M | 69.00M | 68.00M | 83.00M |
| Pension & Post-Retirement Benefits | 358.00M | 363.00M | 350.00M | 166.00M | 91.00M | 147.00M |
| Long-Term Deferred Tax Liabilities | 157.00M | 164.00M | 225.00M | 231.00M | 215.00M | 218.00M |
| Other Long-Term Liabilities | 478.00M | 404.00M | 324.00M | 83.00M | 167.00M | 162.00M |
| Total Liabilities | 9.44B | 9.24B | 11.50B | 2.28B | 1.85B | 2.02B |
| Common Stock | 2.00M | 2.00M | 2.00M | 12.00B | 12.24B | 12.26B |
| Additional Paid-In Capital | 3.92B | 3.88B | 3.77B | |||
| Retained Earnings | 1.90B | 1.80B | 242.00M | |||
| Comprehensive Income & Other | -668.00M | -626.00M | -1.06B | -337.00M | -497.00M | -200.00M |
| Shareholders' Equity | 4.80B | 5.05B | 2.96B | 11.67B | 11.74B | 12.06B |
| Total Liabilities & Equity | 14.24B | 14.29B | 14.46B | 13.94B | 13.59B | 14.07B |
| Total Debt | 5.29B | 5.25B | 8.18B | 98.00M | 95.00M | 112.00M |
| Net Cash (Debt) | -4.89B | -4.37B | -7.42B | 96.00M | -34.00M | -21.00M |
| Net Cash Per Share | -27.95 | -24.93 | -42.72 | 0.56 | -0.20 | |
| Filing Date Shares Outstanding | 170.22M | 173.49M | 172.99M | 172.70M | 172.70M | |
| Total Common Shares Outstanding | 170.11M | 173.49M | 172.79M | 172.70M | 172.70M | |
| Working Capital | 78.00M | 723.00M | 546.00M | 791.00M | 920.00M | 783.00M |
| Book Value Per Share | 28.22 | 29.10 | 17.13 | 67.55 | ||
| Tangible Book Value | -3.23B | -3.25B | -5.96B | 2.23B | 2.06B | 1.73B |
| Tangible Book Value Per Share | -19.01 | -18.72 | -34.51 | 12.91 | ||
| Buildings | 1.15B | 870.00M | 956.00M | 937.00M | 856.00M | 808.00M |
| Machinery | 1.83B | 1.82B | 2.15B | 2.08B | 1.97B | 1.92B |
| Construction In Progress | 483.00M | 499.00M | 504.00M | 320.00M | 240.00M | 219.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.43B | 1.56B | 479.00M | 1.35B | 1.34B | 1.46B |
| Depreciation & Amortization | 506.00M | 489.00M | 555.00M | 561.00M | 578.00M | 597.00M |
| Loss (Gain) From Sale of Assets | -1.55B | -1.55B | -56.00M | |||
| Stock-Based Compensation | 167.00M | 161.00M | 112.00M | 39.00M | 37.00M | 38.00M |
| Other Operating Activities | -83.00M | -169.00M | -121.00M | -101.00M | -77.00M | 40.00M |
| Change in Accounts Receivable | -237.00M | 34.00M | 43.00M | -129.00M | -32.00M | -1.00M |
| Change in Inventory | -44.00M | -139.00M | -132.00M | 23.00M | -82.00M | -136.00M |
| Change in Accounts Payable | 107.00M | 104.00M | 266.00M | 105.00M | 25.00M | 68.00M |
| Change in Other Net Operating Assets | -92.00M | -118.00M | -17.00M | 127.00M | -113.00M | 136.00M |
| Operating Cash Flow | 209.00M | 369.00M | 1.19B | 1.92B | 1.68B | 2.20B |
| Capital Expenditures | -327.00M | -379.00M | -380.00M | -290.00M | -251.00M | -277.00M |
| Cash Acquisitions | -696.00M | -696.00M | ||||
| Divestitures | 3.89B | 3.89B | 60.00M | |||
| Other Investing Activities | -10.00M | -18.00M | -2.00M | -1.00M | ||
| Investing Cash Flow | 2.86B | 2.80B | -380.00M | -230.00M | -253.00M | -278.00M |
| Long-Term Debt Issued | 8.30B | |||||
| Long-Term Debt Repaid | -3.07B | -300.00M | ||||
| Net Debt Issued (Repaid) | -2.82B | -3.07B | 8.00B | |||
| Other Financing Activities | 21.00M | 13.00M | -8.24B | -1.55B | -1.46B | -1.96B |
| Financing Cash Flow | -3.16B | -3.06B | -240.00M | -1.55B | -1.46B | -1.96B |
| Foreign Exchange Rate Adjustments | 1.00M | 7.00M | 3.00M | 4.00M | 3.00M | |
| Net Cash Flow | -89.00M | 116.00M | 568.00M | 133.00M | -30.00M | -33.00M |
| Free Cash Flow | -118.00M | -10.00M | 805.00M | 1.62B | 1.43B | 1.93B |
| Free Cash Flow Margin | -1.42% | -0.12% | 9.75% | 19.82% | 17.57% | 23.56% |
| Free Cash Flow Per Share | -0.67 | -0.06 | 4.63 | 9.41 | 8.27 | |
| Levered Free Cash Flow | 489.00M | 633.25M | 1.30B | 1.59B | 1.26B | |
| Unlevered Free Cash Flow | 654.62M | 850.12M | 1.52B | 1.59B | 1.26B | |
| Cash Interest Paid | 442.00M | 442.00M | 287.00M | |||
| Cash Income Tax Paid | 181.00M | 181.00M | 244.00M | |||
| Change in Working Capital | -266.00M | -119.00M | 160.00M | 126.00M | -202.00M | 67.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 13.84B | 13.74B | 11.41B | |||
| Enterprise Value | 18.74B | 17.24B | 18.75B | |||
| Last Close Price | 81.33 | 79.24 | 66.06 | |||
| PE Ratio | 9.93 | 8.83 | 23.82 | |||
| Forward PE | 12.03 | 12.69 | 12.30 | |||
| PS Ratio | 1.67 | 1.65 | 1.38 | |||
| PB Ratio | 2.88 | 2.72 | 3.86 | |||
| P/FCF Ratio | 14.18 | |||||
| P/OCF Ratio | 66.24 | 37.25 | 9.63 | |||
| PEG Ratio | 1.16 | 8.09 | ||||
| EV/Sales Ratio | 2.25 | 2.07 | 2.27 | |||
| EV/EBITDA Ratio | 16.45 | 14.79 | 11.38 | |||
| EV/EBIT Ratio | 29.60 | 25.46 | 17.17 | |||
| EV/FCF Ratio | 23.29 | |||||
| Debt / Equity Ratio | 1.10 | 1.04 | 2.77 | 0.01 | 0.01 | 0.01 |
| Debt / EBITDA Ratio | 4.20 | 4.07 | 4.75 | 0.04 | 0.04 | 0.04 |
| Debt / FCF Ratio | 10.16 | 0.06 | 0.07 | 0.06 | ||
| Net Debt / Equity Ratio | 1.02 | 0.87 | 2.51 | -0.01 | 0.00 | 0.00 |
| Net Debt / EBITDA Ratio | 4.29 | 3.75 | 4.51 | -0.04 | 0.01 | 0.01 |
| Net Debt / FCF Ratio | -41.46 | -437.00 | 9.22 | -0.06 | 0.02 | 0.01 |
| Asset Turnover | 0.57 | 0.58 | 0.58 | 0.59 | 0.59 | |
| Inventory Turnover | 3.75 | 3.81 | 4.00 | 4.05 | 4.08 | |
| Quick Ratio | 0.50 | 0.66 | 0.74 | 0.87 | 0.94 | 0.90 |
| Current Ratio | 1.02 | 1.23 | 1.20 | 1.46 | 1.70 | 1.56 |
| Return on Equity (ROE) | 33.96% | 38.86% | 6.55% | 11.50% | 11.29% | |
| Return on Assets (ROA) | 2.70% | 2.94% | 4.81% | 7.41% | 7.64% | |
| Return on Invested Capital (ROIC) | 5.52% | 6.21% | 7.87% | 11.29% | 11.26% | 12.04% |
| Return on Capital Employed (ROCE) | 6.00% | 6.10% | 9.30% | 13.40% | 13.80% | 14.80% |
| Earnings Yield | 10.07% | 11.32% | 4.20% | |||
| FCF Yield | -0.85% | -0.07% | 7.05% | |||
| Buyback Yield / Dilution | -0.20% | -0.92% | -0.58% |