SOLV · Solventum Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.01B | - | $2.10B | $2.16B | $2.07B | - | $2.08B | $2.08B | $2.02B | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | $1.10B | - | $1.14B | $1.18B | $1.11B | - | $1.21B | $1.19B | $1.17B | - |
| R&D | $189.00M | - | $183.00M | $189.00M | $193.00M | - | $189.00M | $192.00M | $195.00M | - |
| SG&A | $827.00M | - | $780.00M | $772.00M | $769.00M | - | $701.00M | $579.00M | $596.00M | - |
| Total Operating Expenses | - | - | - | - | - | - | $1.81B | $1.66B | $1.64B | - |
| D&A | $135.00M | - | $37.00M | $38.00M | $129.00M | - | $37.00M | $34.00M | $139.00M | - |
| Operating Income | $81.00M | - | $1.69B | $214.00M | $152.00M | - | $275.00M | $244.00M | $381.00M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $3.00M | - | $248.00M | $13.00M | ($99.00M) | - | $45.00M | $92.00M | $92.00M | - |
| Net Income | $13.00M | - | $1.27B | $90.00M | $137.00M | - | $460.00M | $89.00M | $237.00M | - |
| EPS - Basic | $0.07 | - | $7.26 | $0.52 | $0.79 | - | $0.70 | $0.51 | $1.37 | - |
| EPS - Diluted | $0.07 | - | $7.22 | $0.51 | $0.78 | - | $0.70 | $0.51 | $1.37 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $561.00M | $878.00M | $1.64B | $492.00M | $534.00M | $762.00M | $772.00M | $897.00M | $194.00M | - |
| Accounts Receivable | $1.06B | $1.03B | $1.02B | $1.06B | $926.00M | $1.04B | $1.10B | $1.03B | $1.22B | - |
| Inventory | $1.09B | $1.07B | $1.05B | $962.00M | $866.00M | $965.00M | $953.00M | $899.00M | $901.00M | - |
| Accounts Payable | $699.00M | $687.00M | $669.00M | $643.00M | $604.00M | $618.00M | $560.00M | $495.00M | $477.00M | - |
| Current Assets | $3.58B | $3.86B | $4.41B | $3.21B | $3.05B | $3.25B | $3.35B | $3.36B | $2.52B | - |
| Total Assets | $14.10B | $14.29B | $13.97B | $15.07B | $14.53B | $14.46B | $14.74B | $14.58B | $13.94B | - |
| Current Liabilities | $3.35B | $3.14B | $2.94B | $2.62B | $2.57B | $2.70B | $2.90B | $2.57B | $1.73B | - |
| Long-term Debt | $4.58B | $5.04B | $5.14B | $7.82B | $7.81B | $7.81B | $7.81B | $8.31B | $0 | $0 |
| Total Liabilities | $9.13B | $9.24B | $8.99B | $11.43B | $11.27B | $11.50B | $11.55B | $11.71B | $2.28B | - |
| Stockholders' Equity | $4.97B | $5.05B | $4.99B | $3.65B | $3.26B | $2.96B | $3.19B | $11.73B | $11.67B | - |
| Retained Earnings | $1.81B | $1.80B | $1.73B | $468.00M | $378.00M | $242.00M | $211.00M | $0 | - | - |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($189.00M) | - | - | - | $29.00M | - | - | - | $442.00M | - |
| Investing Cash Flow | ($77.00M) | - | - | - | ($114.00M) | - | - | - | ($102.00M) | - |
| Financing Cash Flow | ($50.00M) | - | - | - | ($139.00M) | - | - | - | $462.00M | - |
| CapEx | $84.00M | - | - | - | $109.00M | - | - | - | $102.00M | - |
| Free Cash Flow | ($273.00M) | - | - | - | ($80.00M) | - | - | - | $340.00M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 54.7% | - | 54.2% | 54.4% | 53.8% | - | 58.1% | 57.3% | 58.1% | - |
| Operating margin | 4.0% | - | 80.6% | 9.9% | 7.3% | - | 13.2% | 11.8% | 18.9% | - |
| EBITDA margin | 10.8% | - | 82.4% | 11.7% | 13.6% | - | 15.0% | 13.4% | 25.8% | - |
| Net margin | 0.6% | - | 60.4% | 4.2% | 6.6% | - | 22.1% | 4.3% | 11.8% | - |
| Free cash flow margin | -13.6% | - | - | - | -3.9% | - | - | - | 16.9% | - |
| FCF / Net income | -21.00 | - | - | - | -0.58 | - | - | - | 1.43 | - |
| R&D / Revenue | 9.4% | - | 8.7% | 8.7% | 9.3% | - | 9.1% | 9.2% | 9.7% | - |
| SG&A / Revenue | 41.2% | - | 37.2% | 35.7% | 37.1% | - | 33.7% | 27.9% | 29.6% | - |
| Effective tax rate | 18.8% | - | 16.4% | 12.6% | -260.5% | - | 8.9% | 50.8% | 28.0% | - |
| Return on assets | 0.1% | - | 9.1% | 0.6% | 0.9% | - | 3.1% | 0.6% | 1.7% | - |
| Return on equity | 0.3% | - | 25.4% | 2.5% | 4.2% | - | 14.4% | 0.8% | 2.0% | - |
| Return on invested capital | 0.7% | - | 14.0% | 1.6% | 1.4% | - | 2.3% | 0.6% | 2.4% | - |
| Liquidity | ||||||||||
| Current ratio | 1.07 | 1.23 | 1.50 | 1.22 | 1.19 | 1.20 | 1.15 | 1.31 | 1.46 | - |
| Quick ratio | 0.75 | 0.89 | 1.14 | 0.86 | 0.85 | 0.84 | 0.83 | 0.96 | 0.94 | - |
| Cash ratio | 0.17 | 0.28 | 0.56 | 0.19 | 0.21 | 0.28 | 0.27 | 0.35 | 0.11 | - |
| Leverage | ||||||||||
| Debt / Equity | 0.92 | 1.00 | 1.03 | 2.14 | 2.40 | 2.64 | 2.45 | 0.71 | 0.00 | - |
| Debt / Assets | 0.32 | 0.35 | 0.37 | 0.52 | 0.54 | 0.54 | 0.53 | 0.57 | 0.00 | - |
| Debt / EBITDA | 21.18 | - | 2.97 | 31.01 | 27.80 | - | 25.03 | 29.88 | 0.00 | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 2.84 | 2.83 | 2.80 | 4.14 | 4.45 | 4.89 | 4.62 | 1.24 | 1.20 | - |
| Liabilities / Assets | 0.65 | 0.65 | 0.64 | 0.76 | 0.78 | 0.80 | 0.78 | 0.80 | 0.16 | - |
| Efficiency | ||||||||||
| Asset turnover | 0.14 | - | 0.15 | 0.14 | 0.14 | - | 0.14 | 0.14 | 0.14 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 193d | - | 177d | 180d | 163d | - | 194d | 181d | 221d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 932.9x | - | 10.1x | 148.7x | 97.5x | - | 99.6x | 103.7x | 50.8x | - |
| P / B | 2.3x | - | 2.6x | 3.6x | 4.1x | - | 3.8x | 0.8x | 1.0x | - |
| P / S | 5.7x | - | 6.1x | 6.1x | 6.4x | - | 5.8x | 4.4x | 6.0x | - |
| EV / EBITDA | 71.6x | - | 9.4x | 81.8x | 73.2x | - | 61.4x | 59.5x | 22.7x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -3.0% | - | 0.7% | 4.1% | 2.7% | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | -1.5% | - | -6.1% | -1.2% | -4.9% | - | - | - | - | - |
| Operating income growth (YoY) | -46.7% | - | 514.5% | -12.3% | -60.1% | - | - | - | - | - |
| Net income growth (YoY) | -90.5% | - | 175.2% | 1.1% | -42.2% | - | - | - | - | - |
| EPS growth (YoY) | -91.0% | - | 931.4% | 0.0% | -43.1% | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -241.3% | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 52.3% | 70.6% | 56.2% | -68.9% | -72.0% | - | - | - | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$5.09B totalMed Surg Segment$1.88B · 37.0%
Health Information Systems Segment$1.36B · 26.7%
Dental Solutions Segment$1.35B · 26.5%
Purification And Filtration Segment$497.00M · 9.8%
Product / service
$8.32B totalProduct$6.35B · 76.3%
Cost Of Software And Rentals$1.98B · 23.7%
Geographic
$8.32B totalUS$4.67B · 56.1%
Non Us$3.66B · 43.9%
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing Solventum Corp against the 5 most active filers in the same SIC group.