SOLV

MKT CAP:$12B

Solventum Corporation

Market Cap

$12B

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

Healthcare·Medical·🇺🇸·NYSE

Stock Price

$69.60-$9.42 (-11.92%)

Apr 16, 2026

Company Details

Solventum Corporation, a healthcare company, engages in the developing, manufacturing, and commercializing a portfolio of solutions to address critical customer and patient needs. It operates through four segments: Medsurg, Dental Solutions...

CEO

Bryan C. Hanson

IPO Date

Apr 1, 2024

Website

www.solventum.com

Key Metrics TTM

Revenue

$8.3B

+0.9% YoY

Net Income

$1.6B

EPS (Diluted)

$8.88

Free Cash Flow

-$10M

Revenue / Share

$47.49

Gross Margin

53.5%

Operating Margin

26.2%

Net Margin

18.7%

FCF Margin

-0.1%

P/S

1.4x

P/E

7.6x

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Feb 27, 2026

$8.3B+0.9%EPS $8.88

Q4 2025

Feb 27, 2026

$2.0B-3.7%EPS $0.37

Q3 2025

Nov 6, 2025

$2.1B+0.7%EPS $7.22

Q2 2025

Aug 7, 2025

$2.2B+3.8%EPS $0.51

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$2.1B	$1.2B	$443M
Q2 22	$2.1B	$1.2B	$443M
Q3 22	$2.0B	$1.1B	$423M
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

Valuation

Quarter	P/S	P/E
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q1 23	1.5x	8.9x
Q2 23	1.5x	9.1x
Q3 23	1.5x	8.4x
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	31.2x
Q3 25	1.4x	7.8x
Q4 25	1.4x	7.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$369M	$313M
Q2 22	$369M	$313M
Q3 22	$496M	$439M
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

Quarter	CapEx
Q1 22	$56M
Q2 22	$56M
Q3 22	$57M
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

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 23	+0.9%	+2.7%
Q3 23	+0.8%	-2.8%
Q4 23	+1.3%	+2.8%
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 22	$13M	0.6%
Q2 22	$13M	0.6%
Q3 22	$7M	0.3%
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 22	$199M	$577M
Q2 22	$199M	$577M
Q3 22	$183M	$543M
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

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	172M	—	—
Q2 22	172M	0.0%	—
Q3 22	172M	0.0%	—
Q1 23	173M	+0.1%	—
Q2 23	173M	-0.0%	+0.1%
Q3 23	173M	0.0%	+0.1%
Q4 23	173M	+0.0%	+0.1%
Q1 24	173M	0.0%	0.0%
Q2 24	174M	+0.5%	+0.5%
Q3 24	174M	+0.2%	+0.7%
Q4 24	175M	+0.3%	+1.0%
Q1 25	175M	+0.2%	+1.2%
Q2 25	175M	+0.2%	+1.0%
Q3 25	175M	+0.1%	+0.9%
Q4 25	175M	-0.1%	+0.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	$188.6K	11K
Q1 25	$188.2K	11K
Q2 25	$196.5K	11K
Q3 25	$190.5K	11K
Q4 25	$199.8K	10K

Revenue / Employee