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Solventum (SOLV) stock

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NYSE: SOLV NYSE Health Care Technology Next results ~November 5, 2026

C+ Fundamentals grade

Solventum is a US-listed company in the health care technology industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: our cash-flow value ($9.20) was left out of our combined valuation (it is 0.11x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Price vs value

Under review: our cash-flow value ($9.20) was left out of our combined valuation (it is 0.11x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating. We'll show the comparison once resolved.

Solventum valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Solventum files

Where Solventum stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $8.31bn, down 0.9% on a year earlier, about the same pace as a quarter earlier. That puts it 851 of 931 for growth among all the companies we cover. Free-cash-flow margin fell to -1.4% from 1.8% a year earlier. Operating margin widened to 25.0% from 9.3%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 1 of our 5 financial-health checks.

Our model value for Solventum is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Solventum's trailing-twelve-month revenue fell 0.9% year on year, with a free-cash-flow margin of -1.4%. Where it stands out: stock pay as % of revenue of 2.0% ranks 2 of 22 health care technology companies we cover. Where it lags: long-term debt as % of assets of 32.1% ranks 13 of 15 health care technology companies we cover.

Our discounted-cash-flow model values the business at ~$9.2 per share in the base case (—–$22 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Net income rising while operating cash flow falls: TTM net income grew 277.4% while operating cash flow fell 64.3% — earnings and cash are telling different stories.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 15.7 points on a year ago.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Results due soon. Results are expected around 4 November; the share price can move sharply on the day.
  • Revenue shrinking. Revenue fell 0.9% over the last 12 months.
  • Burning cash. Free cash flow was -1.4% of revenue over the last 12 months.
  • Weak cash conversion. Free cash flow was -8% of net income over the last 12 months.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 32.1% ranks 13 of 15 health care technology companies we cover (median 20.1%).

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$2.55 against an average estimate of $1.91: beat by 33.8%
Revenue
$2.21bn, up 2.2% on a year earlier
Share reaction
-5.7% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Guidance given
organic sales growth growth 2.5% to 3% (full year 2026); organic sales growth excluding ~100 bps of SKU exit impact growth 3.5% to 4% (full year 2026)
Next report
November 5, 2026; average EPS estimate $1.34

Solventum's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+4.2%
  • 1 week-1.2%
  • 1 month-3.5%
  • This year+7.0%
  • 1 year+22.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$8.3B
Operating margin
25.0%
Net margin
17.3%
EPS (TTM, diluted)
$8.19

Growth

Revenue growth
−0.9%
Change in growth rate
−0.4 pts
Share count change
+0.2%

Cash

Free cash flow (TTM)
-$118M
FCF margin
-1.4%
Stock pay % of revenue
2.0%

Earnings

Last results
August 5, 2026
Next results (est.)
November 4, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Regulatory
  2. Results
  3. Results
  4. Announcement
  5. Guidance
  6. Leadership
  7. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Solventum valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($9.20) was left out of our combined valuation (it is 0.11x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Our value per share comes from a discounted-cash-flow model of Solventum's free cash flow after stock-based pay ( $393M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Solventum as an operating company, with every model that fits that kind of business. Cost of equity 9.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.98 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$9.2 Left out: out of range vs price (0.11x)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$90 ~$65–$150 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$100 ~$69–$150 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$76 ~$66–$90 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Solventum with Health Care Technology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20242025Now
Share price$66.06$79.24$84.75
Market value$11.5bn$13.9bn$14.8bn
+ Net debt (− = net cash)$7.3bn$4.2bn$4.7bn
Enterprise value$18.8bn$18.1bn$19.5bn
Multiples
Price / sales 1.4x1.7x1.8x
Price / earnings 24.0x8.9x10.3x
Price / free cash flow 14.3x——
EV / EBITDA 11.8x6.8x8.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $1.9bn and EPS of $1.34 (range $1.29 to $1.39) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $7.18 +17% $8.2bn −1%
Next $7.27 +1% $8.5bn +4%

Next year's EPS estimate has moved +2.5% in 90 days, across 15 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +9.5% on 90 days ago. In the last 30 days, 2 analysts raised Solventum's forecast and 0 cut it.

Consensus EPS forecast Solventum, last 90 days
$6.40 $6.60 $6.80 $7.00 $7.20 $7.40 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $6.55 Current fiscal year, 60 days ago: $7.18 Current fiscal year, 30 days ago: $7.14 Current fiscal year, 7 days ago: $7.14 Current fiscal year, Now: $7.18 $7.18 Next fiscal year, 90 days ago: $7.09 Next fiscal year, 60 days ago: $7.22 Next fiscal year, 30 days ago: $7.23 Next fiscal year, 7 days ago: $7.25 Next fiscal year, Now: $7.27 $7.27

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $6.55$7.09
60 days ago $7.18$7.22
30 days ago $7.14$7.23
7 days ago $7.14$7.25
Now $7.18$7.27

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.91 $2.55 +33.8%
Mar 2026 $1.35 $1.48 +9.3%
Dec 2025 $1.50 $1.57 +5.0%
Sept 2025 $1.43 $1.50 +4.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • organic sales growth full year 2026 2.5% growth to 3% growth Non-GAAP Raised
    “Increased organic sales growth range to +2.5% to +3.0% (+3.5% to +4.0% excluding ~100 bps of SKU exit impact); from prior range of +2.0% to +3.0%” source
  • organic sales growth excluding ~100 bps of SKU exit impact full year 2026 3.5% growth to 4% growth Non-GAAP Raised
    “Increased organic sales growth range to +2.5% to +3.0% (+3.5% to +4.0% excluding ~100 bps of SKU exit impact); from prior range of +2.0% to +3.0%” source
  • adjusted EPS full year 2026 $7.10 to $7.20 Non-GAAP Raised
    “Increased adjusted EPS range to $7.10 to $7.20; from the upper end of prior range of $6.40 to $6.60” source
  • free cash flow full year 2026 $200m to $300m Non-GAAP Raised
    “Increased free cash flow to be in the range of $200 million to $300 million; from prior estimate of ~$200M” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Solventum's revenue by +1.1% next year and +2.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+0.8%, weight 69%) and the company's own record (+2.0%, weight 31%) . How the weights are set.

Analyst recommendations

15 analysts, Oct 2026
Buy853%
Hold533%
Sell213%

Monthly trend

  1. Oct 20267515
  2. Sep 20267515
  3. Aug 20267515
  4. Jul 20267515

Counts of recommendations published by analysts covering Solventum, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
3.4%
of tradable shares
Days to cover
5.04
at average volume
Short interest, 1 month
+2%
to October 15, 2026
Held by institutions
76%
of shares
Held by insiders
15.3%
of shares
Employees
20,584
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +22.8%

$69.04 on October 31, 2025 to $84.75

ThenNowEffect
Revenue (last 12 months) $8.4bn $8.3bn −0.9%
Net margin 4.5% 17.3% +280.9%
P/E multiple 31.7x 10.3x −67.4%
Share count 175m 175m −0.2%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20252026 to date
Return
SOLV+20%+7%
Industry peers (median)−28%−27%
S&P 500+18%+11%
Months that ended higher
SOLV50%55%
S&P 50075%46%
Largest fall from a high during the year
SOLV−25%−28%
S&P 500−19%−9%

Worst fall since March 26, 2024: 40% from March 26, 2024 to July 9, 2024. Getting back needed a 67% gain, reached on February 25, 2025, 231 days after the low.

Price behaviour

52-week range
$62.49 – $92.44
From 52-week high
−8.3%
vs 50-day average
−3.7%
vs 200-day average
+8.1%
Volatility (1 year)
30%
Beta vs S&P 500
0.56

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 5 down
typical move ±4.6%
After a week
5 up, 5 down
typical move ±7.4%
After a month
6 up, 4 down
typical move ±13.3%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 −5.7% −0.4% −3.0% +5.1%
May 5, 2026 +5.3% +2.2% +11.4% +22.2%
February 26, 2026 −1.2% −1.0% −5.7% −16.4%
November 6, 2025 +5.7% −1.0% +11.1% +22.0%
August 7, 2025 +1.1% +0.7% +0.9% +2.8%
May 8, 2025 +7.2% +0.6% +11.4% +14.4%
February 27, 2025 −5.1% −0.1% −9.9% −11.1%
November 7, 2024 −2.3% +1.2% −8.4% −4.7%
August 8, 2024 +8.4% +2.8% +5.3% +19.9%
May 9, 2024 −4.0% +0.7% −7.3% −14.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Solventum in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Solventum
$8.1B $8.2B $8.3B $8.4B $8.5B FY23 Q4 FY24 Q2 FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 Revenue (TTM), FY23 Q4: $8.2B Revenue (TTM), FY24 Q1: $8.2B Revenue (TTM), FY24 Q2: $8.2B Revenue (TTM), FY24 Q3: $8.2B Revenue (TTM), FY24 Q4: $8.3B Revenue (TTM), FY25 Q1: $8.3B Revenue (TTM), FY25 Q2: $8.4B Revenue (TTM), FY25 Q3: $8.4B Revenue (TTM), FY25 Q4: $8.3B Revenue (TTM), FY26 Q1: $8.3B Revenue (TTM), FY26 Q2: $8.3B $8.3B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $8.2B
FY24 Q1 $8.2B
FY24 Q2 $8.2B
FY24 Q3 $8.2B
FY24 Q4 $8.3B
FY25 Q1 $8.3B
FY25 Q2 $8.4B
FY25 Q3 $8.4B
FY25 Q4 $8.3B
FY26 Q1 $8.3B
FY26 Q2 $8.3B
Revenue growth, TTM YoY Solventum
-1% 0% 1% 2% 3% FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 Revenue growth, TTM YoY, FY24 Q4: 0.7% Revenue growth, TTM YoY, FY25 Q1: 1.3% Revenue growth, TTM YoY, FY25 Q2: 2.2% Revenue growth, TTM YoY, FY25 Q3: 2.3% Revenue growth, TTM YoY, FY25 Q4: 0.9% Revenue growth, TTM YoY, FY26 Q1: -0.6% Revenue growth, TTM YoY, FY26 Q2: -0.9% -0.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q4 0.7%
FY25 Q1 1.3%
FY25 Q2 2.2%
FY25 Q3 2.3%
FY25 Q4 0.9%
FY26 Q1 -0.6%
FY26 Q2 -0.9%
Operating margin (TTM) Solventum
5% 10% 15% 20% 25% 30% FY23 Q4 FY24 Q2 FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 Operating margin (TTM), FY23 Q4: 20.6% Operating margin (TTM), FY24 Q1: 20.8% Operating margin (TTM), FY24 Q2: 18.7% Operating margin (TTM), FY24 Q3: 15.9% Operating margin (TTM), FY24 Q4: 12.6% Operating margin (TTM), FY25 Q1: 9.7% Operating margin (TTM), FY25 Q2: 9.3% Operating margin (TTM), FY25 Q3: 26.1% Operating margin (TTM), FY25 Q4: 26.2% Operating margin (TTM), FY26 Q1: 25.5% Operating margin (TTM), FY26 Q2: 25.0% 25.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 20.6%
FY24 Q1 20.8%
FY24 Q2 18.7%
FY24 Q3 15.9%
FY24 Q4 12.6%
FY25 Q1 9.7%
FY25 Q2 9.3%
FY25 Q3 26.1%
FY25 Q4 26.2%
FY26 Q1 25.5%
FY26 Q2 25.0%
FCF margin (TTM) Solventum
-10% 0% 10% 20% FY23 Q4 FY24 Q2 FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 FCF margin (TTM), FY23 Q4: 19.8% FCF margin (TTM), FY24 Q1: 18.5% FCF margin (TTM), FY24 Q2: 18.6% FCF margin (TTM), FY24 Q3: 14.3% FCF margin (TTM), FY24 Q4: 9.8% FCF margin (TTM), FY25 Q1: 4.6% FCF margin (TTM), FY25 Q2: 1.8% FCF margin (TTM), FY25 Q3: 0.6% FCF margin (TTM), FY25 Q4: -0.1% FCF margin (TTM), FY26 Q1: -2.5% FCF margin (TTM), FY26 Q2: -1.4% -1.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 19.8%
FY24 Q1 18.5%
FY24 Q2 18.6%
FY24 Q3 14.3%
FY24 Q4 9.8%
FY25 Q1 4.6%
FY25 Q2 1.8%
FY25 Q3 0.6%
FY25 Q4 -0.1%
FY26 Q1 -2.5%
FY26 Q2 -1.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 8,130 8,197 8,254 8,325 8,310
Gross profit 4,695 4,693 4,593 4,451 4,545
EBITDA 2,271 2,253 1,591 2,670 2,401
Operating income 1,693 1,692 1,036 2,181 2,076
Net income 1,343 1,346 479 1,556 1,434
Diluted EPS $7.78 $7.79 $2.76 $8.88 $8.19
Growth (year on year)
Revenue — +0.8% +0.7% +0.9% −0.9%
EBITDA — −0.8% −29.4% +67.8% +112.3%
Operating income — −0.1% −38.8% +110.5% +167.2%
Net income — +0.2% −64.4% +224.8% +277.4%
Diluted EPS — +0.1% −64.6% +221.7% +276.6%
Margins
Gross margin 57.7% 57.3% 55.6% 53.5% 54.7%
EBITDA margin 27.9% 27.5% 19.3% 32.1% 28.9%
Operating margin 20.8% 20.6% 12.6% 26.2% 25.0%
Net margin 16.5% 16.4% 5.8% 18.7% 17.3%
Free-cash-flow margin 17.6% 19.8% 9.8% −0.1% −1.4%
Cash flow
Cash from operations 1,679 1,915 1,185 369 209
Capital spending 251 290 380 379 327
Free cash flow 1,428 1,625 805 −10 −118
Stock-based pay 37 39 112 161 167
Free cash flow after stock pay 1,391 1,586 693 −171 −285
Balance sheet
Cash 61 194 762 878 403
Total debt 0 0 8,080 5,083 5,083
Net debt (negative = net cash) −61 −194 7,318 4,205 4,680
Diluted shares 173m 173m 174m 175m 175m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 5 checks passed · June 30, 2026
What it owns · $14.2bn
Short-term assets $3.7bnLonger-term assets $10.5bn
What it owes, and who funded it · $14.2bn
Short-term liabilities $3.7bnLonger-term liabilities $5.8bnShareholders' equity $4.8bn
  • Short-term assets cover short-term liabilities $3.7bn of assets due within a year against $3.7bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.7bn short-term assets against $5.8bn of longer-dated liabilities.
  • More cash than debt $403m of cash against $5.1bn of debt.
  • Debt below 40% of shareholders' equity Debt is 106% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $209m of operating cash flow against $5.1bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Solventum's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+0.2%
year over year
R&D spending
8.7%
of revenue
Sales & admin spending
39.6%
of revenue
Days sales outstanding
58 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care technology
Last 12 months unless stated SOLV VEEV TDOC TEM WAY OMCL Median
Revenue, last 12 months $8.3bn $3.5bn $2.5bn $1.5bn $1.3bn $1.2bn $292m
Revenue growth, last 12 months −0.9% 16.5% −2.4% 36.6% 21.4% 8.5% 8.8%
Revenue growth, 3-year average — 15.7% −1.5% — — 0.3% 0.8%
Revenue growth, latest quarter 2.2% 17.6% −3.4% 23.1% 21.2% 7.4% 7.4%
Gross margin 54.7% 75.0% 70.2% — — 44.8% 58.6%
Operating margin 25.0% 29.9% −6.6% −18.5% 21.9% 4.6% −12.5%
Operating margin, 3-year average 17.6% 26.5% −18.8% −49.5% 19.1% 0.8% −18.8%
Net margin 17.3% 29.3% −6.3% −12.5% 10.7% 3.1% −12.5%
Cash from operations / revenue 2.5% 48.2% 10.9% −7.2% 24.9% 14.6% 9.7%
Free-cash-flow margin −1.4% 47.4% 10.6% −9.1% 20.9% 11.4% 9.2%
Free-cash-flow margin, 3-year average 6.3% 43.3% 11.5% −21.2% 19.4% 12.0% 8.2%
Stock pay / revenue 2.0% 14.3% 2.1% 13.3% 4.9% 3.6% 9.5%
Change in share count 0.2% −0.1% 2.9% — 9.7% −1.5% 2.9%

Median of all 23 companies we cover in health care technology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

23 health care technology companies
Measure Company Peer median Rank
Revenue growth Growth -0.9% 8.8% 16 of 23
Change in growth rate Growth -0.4pp -0.3pp 13 of 23
Gross margin Profitability 54.7% 58.2% 8 of 14
Operating margin Profitability 25.0% -6.6% 3 of 22
Net margin Profitability 17.3% -12.5% 3 of 23
Free-cash-flow margin Cash generation -1.4% 10.6% 13 of 22
Stock pay as % of revenue Cash generation 2.0% 9.7% 2 of 22
Long-term debt as % of assets Balance sheet 32.1% 20.1% 13 of 15
Change in share count Balance sheet 0.2% 2.6% 7 of 19
Days sales outstanding Balance sheet 58 days 58 days 11 of 21

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Products $6.3B 76.3% 0.0%
Cost of Software and Rentals $2B 23.7% ▲ 3.7%
Geography
Region Revenue Share YoY
United States $4.7B 56.1% ▲ 2.4%
Outside the US $3.7B 43.9% ▼ 1.0%

From Solventum's 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$9.8B
Institutions reporting
872
Shares held vs prior quarter
▼ 0.9%
Positions opened / closed
105 / 109

Top buyers and sellers, Q2 2026: 354 institutions bought and 393 sold ; the biggest buyer was Dimensional Fund Advisors LP (+1.0M shares) and the biggest seller State Street Corp (−768K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Independent Franchise Partners LLP $1.2B 16.2M 12.7% ▲ 2.8%
Blackrock, Inc. $753M 9.8M 7.7% ▼ 6.8%
Vanguard Capital Management LLC $743M 9.6M 7.5% ▲ 0.2%
Trian Fund Management, L.P. $635M 8.2M 6.5% 0.0%
Vanguard Portfolio Management LLC $488M 6.3M 5.0% ▼ 1.0%
Davis Selected Advisers $487M 6.3M 4.9% ▼ 0.4%
State Street Corp $435M 5.6M 4.4% ▼ 12.0%
Geode Capital Management, LLC $378M 4.9M 3.8% ▲ 3.3%
Boston Partners $312M 4.0M 3.2% ▲ 3.2%
Invesco Ltd. $255M 3.3M 2.6% ▼ 12.7%
FMR LLC $160M 2.1M 1.6% ▲ 11.2%
State Farm Mutual Automobile Insurance Co $160M 2.1M 1.6% 0.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Solventum's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $100,344 1 trade by 1 insider, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $100,344 net buying
Insider Date Trade Shares Price Value
Wendell Amy Mcbride Director March 10, 2026 Buy 1,475 $68.03 $100,344

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 2 trades and filings

In the last 12 months, 1 member of Congress disclosed 0 purchases and 1 sale of Solventum shares.

  • J. French Hill(R-AR 2):Sale (full), $15,001 - $50,000, traded December 31, 2025, filed January 23, 2026
  • Julie Johnson(D-TX 32):Sale (full), $1,001 - $15,000, traded January 15, 2025, filed February 12, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 4, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 5, 2026
  • February 26, 2026
  • November 6, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Solventum was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Solventum in brief

What does Solventum do?
Solventum is a US-listed company in the health care technology industry. Its financial year ends in December.
What is Solventum's stock ticker?
Solventum trades under the ticker SOLV on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Solventum's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Solventum reported revenue of $8.3B, 0.9% lower than a year earlier, according to its SEC filings.
What is Solventum's free cash flow?
Solventum's free-cash-flow margin is -1.4% of revenue over the trailing twelve months, ranking 13 of the 22 health care technology companies we cover.
Who are Solventum's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Independent Franchise Partners LLP, Blackrock, Inc. and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Solventum's market cap?
On November 2, 2026, Solventum's market capitalisation was about $14.8B, with a price-to-earnings ratio of 10.3 and net debt of $4.7B. Market figures come from third-party market data and may be delayed.
How much debt does Solventum have?
Solventum's debt-to-equity ratio is 105.8%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Solventum's competitors?
In our Health Care Technology peer group, the companies closest to Solventum are Veeva Systems Inc, Teladoc Health, Inc., Tempus AI, Inc., Waystar Holding Corp. and Omnicell, Inc. The side-by-side comparison below sets their revenue, margins and growth against Solventum's.
Are insiders buying or selling Solventum stock?
Over the last 12 months, Solventum's directors and officers reported 1 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Solventum's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Solventum announces its own schedule.