SOLV (Solventum Corporation) Stock Financials & Earnings | Market Cap Arena

SOLV (Solventum Corporation) Stock Financials & Earnings | Market Cap Arena

SOLVSolventum Corporation

Mkt Cap$12B

Healthcare·Medical - Care Facilities·🇺🇸 United States·NYSE

Revenue (TTM)$8.3B

Net Income (TTM)$1.6B

EPS (TTM)$8.88

Free Cash Flow (TTM)-$10M

Gross Margin53.5%

Op. Margin26.2%

Net Margin18.7%

FCF Margin-0.1%

P/S Ratio (TTM)1.4x

P/E Ratio (TTM)7.6x

YoY Rev Growth+0.9%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$2.0B	$1.1B	$365M
Q2 23	$2.1B	$1.2B	$417M
Q3 23	$2.1B	$1.2B	$504M
Q4 23	$2.0B	$1.2B	$406M
Q1 24	$2.0B	$1.2B	$381M
Q2 24	$2.1B	$1.1B	$244M
Q3 24	$2.1B	$1.2B	$275M
Q4 24	$2.1B	$1.1B	$136M
Q1 25	$2.1B	$1.1B	$152M
Q2 25	$2.2B	$1.2B	$214M
Q3 25	$2.1B	$1.2B	$137M
Q4 25	$2.0B	$985M	$1.7B

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	1.5x	17.9x
Q2 23	1.5x	18.8x
Q3 23	1.5x	15.7x
Q4 23	1.4x	8.8x
Q1 24	1.4x	9.2x
Q2 24	1.4x	11.2x
Q3 24	1.4x	16.5x
Q4 24	1.4x	24.8x
Q1 25	1.4x	31.3x
Q2 25	1.4x	31.3x
Q3 25	1.4x	7.8x
Q4 25	1.4x	7.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$509M	$444M
Q2 23	$366M	$295M
Q3 23	$493M	$427M
Q4 23	$547M	$459M
Q1 24	$442M	$340M
Q2 24	$355M	$297M
Q3 24	$169M	$76M
Q4 24	$219M	$92M
Q1 25	$29M	-$80M
Q2 25	$169M	$59M
Q3 25	$76M	-$21M
Q4 25	$95M	$32M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$65M
Q2 23	$71M
Q3 23	$66M
Q4 23	$88M
Q1 24	$102M
Q2 24	$58M
Q3 24	$93M
Q4 24	$127M
Q1 25	$109M
Q2 25	$110M
Q3 25	$97M
Q4 25	$63M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-2.3%	+1.9%
Q2 23	+0.9%	+2.7%
Q3 23	+3.2%	-1.0%
Q4 23	+3.4%	-6.9%
Q1 24	+0.2%	-0.7%
Q2 24	+0.2%	+10.7%
Q3 24	+0.4%	+15.1%
Q4 24	+1.9%	+19.0%
Q1 25	+2.7%	+17.3%
Q2 25	+3.8%	+6.0%
Q3 25	+0.7%	+8.4%
Q4 25	-3.7%	-83.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$18M	0.9%
Q2 23	$8M	0.4%
Q3 23	$6M	0.3%
Q4 23	$7M	0.3%
Q1 24	$4M	0.2%
Q2 24	$56M	2.7%
Q3 24	$27M	1.3%
Q4 24	$25M	1.2%
Q1 25	$49M	2.4%
Q2 25	$34M	1.6%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 23	$195M	$577M
Q2 23	$193M	$579M
Q3 23	$180M	$525M
Q4 23	$190M	$562M
Q1 24	$195M	$596M
Q2 24	$192M	$701M
Q3 24	$189M	$701M
Q4 24	$199M	$784M
Q1 25	$193M	$769M
Q2 25	$189M	$772M
Q3 25	$183M	$780M
Q4 25	$176M	$759M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 23	$39M	$0	$39M
Q3 23	$500M	$0	$500M
Q4 23	$194M	$0	$194M
Q1 24	$996M	$0	$996M
Q2 24	$897M	$0	$897M
Q3 24	$772M	$0	$772M
Q4 24	$762M	$0	$762M
Q1 25	$534M	$0	$534M
Q2 25	$492M	$0	$492M
Q3 25	$1.6B	$0	$1.6B
Q4 25	$878M	$0	$878M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	173M	+0.1%
Q2 23	173M	-0.0%
Q3 23	173M	+0.0%
Q4 23	173M	+0.0%
Q1 24	173M	+0.0%
Q2 24	174M	+0.5%
Q3 24	174M	+0.2%
Q4 24	175M	+0.3%
Q1 25	175M	+0.2%
Q2 25	175M	+0.2%
Q3 25	175M	+0.1%
Q4 25	175M	-0.1%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 20	—	—
FY 21	—	—
FY 22	—	—
FY 23	—	—
FY 24	$750K	11K
FY 25	$833K	10K