FirmAtlas
Company handbook · SOLV · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
SOLV · CIK 1964738 · LATEST FILING: 10-Q JUN '26 · FILED AUG 5, 2026
SOLVENTUM CORPORATION
$85.81
−2.05 (−2.33%)
Close, Oct 16, 2026 · 52-week $62–94
Last fiscal year
SOLVENTUM CORPORATION reported revenue of $8.3B for the year ended Dec 31, 2025 (FY25), up 0.9% from FY24. Net income was $1.6B, operating cash flow $369M and free cash flow −$10M. Source: 10-K filed Feb 27, 2026.
Market cap
$14.9B
P/E
10.4
EV/EBITDA
7.1x
P/B
3.1
ROIC
20.4%
Revenue 1Y
0.9%/yr
EPS 1Y
221.7%/yr
Shares 1Y
+0.4%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOBryan C. Hanson
HQEagan, MN
AuditorPricewaterhouseCoopers LLP
Employees20,000
Year endsDecember
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
—
—
—
20.1%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$1.5B deployed
Capex
$759M
52.2%
Acquisitions
$696M
47.8%
Operating cash flow over the period: $1.6B. Total debt changed by −$3.0B. R&D of $1.5B is already inside operating costs.
Capex was more than operating cash flow in FY25.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
8,254
8,325+0.9%
8,310
YoY
+0.9%
Gross profit
4,593
4,451−3.1%
4,545
Gross margin
55.6%
53.5%−2.2 pp
—
Operating income
1,036
2,181+110.5%
2,077
Operating margin
12.6%
26.2%+13.6 pp
—
EBITDA
1,591
2,670+67.8%
—
EBITDA margin
19.3%
32.1%+12.8 pp
—
Interest expense
287
442+54.0%
—
Interest coverage
5.54x
6.04x+0.50x
—
Net income
479
1,556+224.8%
1,434
YoY
+224.8%
Net margin
5.8%
18.7%+12.9 pp
—
EPS (diluted, $)
2.76
8.88+221.7%
8.18
YoY
+221.7%
Balance sheet
Total assets
14,457
14,294−1.1%
14,243
Cash & short-term investments
762
878+15.2%
—
Accounts receivable
1,044
1,034−1.0%
—
Inventory
965
1,066+10.5%
—
Net PP&E
1,622
1,326−18.2%
—
Other assets
10,064
9,990−0.7%
—
Total liabilities
11,498
9,245−19.6%
9,443
Accounts payable
618
687+11.2%
—
Total debt
8,010
5,035−37.1%
4,573
Other liabilities
2,870
3,523+22.8%
—
Shareholders’ equity
2,959
5,049+70.6%
4,800
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,185
369−68.9%
209
Net income
479
1,556+224.8%
—
Depreciation & amortization
555
489−11.9%
—
Stock-based compensation
112
161+43.8%
—
Working capital & other
39
(1,837)−4810.3%
—
Cash from investing
(380)
2,797n/m
—
Capex
(380)
(379)n/m
—
Acquisitions
0
(696)n/m
—
Other investing
0
3,872n/m
—
Cash from financing
(240)
(3,057)n/m
—
Debt raised
8,303
0−100.0%
—
Debt repaid
(300)
(3,070)n/m
—
Other financing
(8,243)
13n/m
—
Net change in cash
568
116−79.6%
—
Free cash flow (OCF − capex)
805
(10)−101.2%
(118)
Where the cash went
Operating cash flow
1,185
369−68.9%
209
Reinvested in the business
380
1,075+182.9%
—
% of operating cash flow
32.1%
291.3%
Capex
380
379−0.3%
327
Acquisitions
0
696n/m
—
R&D (memo, already in costs)
775
739−4.6%
—
Free cash flow
805
(10)−101.2%
(118)
YoY
−101.2%
Change in total debt
—
(2,975)
—
Cash left over
—
(3,681)
—
FCF conversion (FCF ÷ net income)
168.1%
−0.6%−168.7 pp
—
Owner earnings
—
1,644
—
Owner earnings margin
—
19.7%
—
Returns & ratios
ROIC (all capital)
8.0%
20.4%+12.4 pp
—
ROIC (operating)
27.2%
68.9%+41.7 pp
—
Net debt / EBITDA
4.56x
1.56x−3.00x
—
Debt / equity
2.71x
1.00x−1.71x
—
Cash conversion cycle (days)
81
81+0 d
—
ROE
16.2%
30.8%+14.6 pp
—
ROA
3.3%
10.9%+7.6 pp
—
ROCE
8.8%
19.5%+10.7 pp
—
NOPAT
819
1,981+142.0%
—
Invested capital (operating)
3,013
2,739−9.1%
—
Invested capital (all)
10,207
9,206−9.8%
—
Reinvestment rate
—
−13.8%
—
Debtor days
46
45−1 d
—
Inventory days
96
100+4 d
—
Days payable
62
65+3 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
2,096
1,998
2,007
2,209
vs year-ago quarter
Gross profit
1,135
1,027
1,097
1,286
Gross margin
54.2%
51.4%
54.7%
58.2%
Operating income
1,690
125
81
181
Net income
1,266
63
13
92
vs year-ago quarter
Net margin
60.4%
3.2%
0.6%
4.2%
EPS (diluted, $)
7.22
0.36
0.07
0.53
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
13,973
14,294
14,097
14,243
Cash & equivalents
1,642
878
561
403
Total debt
5,137
5,035
4,575
4,573
Shareholders’ equity
4,986
5,049
4,969
4,800
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
76
95
(189)
227
Capex
97
63
84
83
Free cash flow
(21)
32
(273)
144
vs year-ago quarter