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SOLV

Solventum Corporation

SOLV

Solventum Corporation • NYSE
$85.26 ▼ -0.01% (-0.01)
Market Cap $14.79 B
52w High $86.81
52w Low $60.70
Dividend Yield 0%
P/E 9.79
Volume 628.23K
Outstanding Shares 173.44M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.096B ▼ $1.04B ▲ $1.266B ▲ 60.401% ▲ $7.26 ▲ $1.724B ▲
Q2-2025 $2.161B ▲ $961M ▼ $90M ▼ 4.165% ▼ $0.52 ▼ $328M ▲
Q1-2025 $2.07B ▼ $962M ▼ $137M ▲ 6.618% ▲ $0.79 ▲ $271M ▲
Q4-2024 $2.075B ▼ $983M ▲ $31M ▼ 1.494% ▼ $0.18 ▼ $270M ▼
Q3-2024 $2.082B $890M $122M 5.86% $0.7 $407M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.642B ▲ $13.973B ▼ $8.987B ▼ $4.986B ▲
Q2-2025 $492M ▼ $15.074B ▲ $11.429B ▲ $3.645B ▲
Q1-2025 $534M ▼ $14.527B ▲ $11.265B ▼ $3.262B ▲
Q4-2024 $762M ▼ $14.457B ▼ $11.498B ▼ $2.959B ▼
Q3-2024 $772M $14.745B $11.553B $3.192B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.266B ▲ $76M ▼ $3.766B ▲ $-2.693B ▼ $1.15B ▲ $-21M ▼
Q2-2025 $90M ▼ $169M ▲ $-110M ▲ $-110M ▲ $-42M ▲ $59M ▲
Q1-2025 $137M ▲ $29M ▼ $-114M ▲ $-139M ▼ $-228M ▼ $-80M ▼
Q4-2024 $31M ▼ $219M ▲ $-127M ▼ $-104M ▲ $-10M ▲ $92M ▲
Q3-2024 $122M $169M $-93M $-202M $-125M $76M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $3.13Bn ▲$1.60Bn ▼$1.67Bn ▲$1.59Bn ▼

Five-Year Company Overview

Income Statement

Income Statement Solventum shows a fairly steady revenue base over the last few years, which suggests a durable underlying business across wound care, health IT, and dental. However, profitability has recently weakened. Gross profit has softened a bit, and operating profit and EBITDA have come down from earlier levels. Net income has fallen more sharply, which likely reflects a mix of higher interest expense from new debt, separation‑related costs from the spin‑off, and some margin pressure. Overall, this looks like a solid top line with good scale, but earnings are in a transition phase and will need rebuilding in the next few years.

Balance Sheet

Balance Sheet The balance sheet has shifted from conservative to highly leveraged with the separation from 3M. Total assets are broadly stable, and cash has improved from very low levels, but the company now carries a large amount of debt compared with almost none before. Equity has also shrunk meaningfully, which makes leverage stand out even more. This capital structure amplifies both risk and reward: it can boost returns if performance improves, but it also makes the company more sensitive to interest costs, refinancing conditions, and any downturn in results. Financial flexibility is now a key point to watch.

Cash Flow

Cash Flow Cash generation remains a relative strength. Operating cash flow has been consistently positive and comfortably above investment needs, and free cash flow has been solid each year, even though it has eased recently alongside weaker earnings. Capital spending has been disciplined and not especially heavy, which supports ongoing free cash flow. Going forward, a larger portion of this cash will likely be needed to service and reduce debt, so the company’s ability to stabilize margins and keep cash flow resilient will be central to its financial story.

Competitive Edge

Competitive Edge Solventum inherits a strong competitive position from 3M’s healthcare business. It benefits from trusted brands in wound care and dental, a very large installed base in hospital information systems, and thousands of patents that protect its technologies. High switching costs in both clinical products and software make it hard for customers to move to rivals once embedded. A broad global footprint and deep relationships with hospitals and dentists further reinforce its standing. The main challenges are intense competition in medtech and health IT, ongoing pricing pressure from payers and providers, and the need to keep up with rapid digital and AI innovation. Overall, the moat looks solid but not static, and it will require continuous investment to maintain.

Innovation and R&D

Innovation and R&D Innovation is a clear focal point. In wound care, the company is building on decades of success with its negative‑pressure systems and expanding into regenerative and synthetic tissue solutions, helped by the Acera Surgical acquisition. In health information systems, Solventum is leaning into cloud platforms and AI‑driven tools that reduce clinicians’ documentation burden and improve hospital revenue cycle processes, an area with strong structural demand. In dental, it is shifting from standalone products to full procedure solutions and partnering on 3D‑printed same‑day restorations, which could reshape parts of the dental workflow. The combination of materials science, data science, and clinical know‑how suggests a robust innovation engine, though the payoff will depend on execution, regulatory progress, and customer adoption.

Summary

Solventum starts life as an independent company with a sizable, diversified healthcare platform and a long track record of innovation behind it. Revenues are stable and broad‑based, but profitability has stepped down recently, and the balance sheet is now much more leveraged than in the past. Cash flows remain healthy, yet a larger debt load makes consistent execution more important. On the strategic side, the company appears well positioned in attractive niches like advanced wound care, digital health information systems, and digital dentistry, supported by strong brands, patents, and high switching costs. The key questions looking ahead are whether Solventum can rebuild margins, integrate acquisitions effectively, capitalize on its AI and digital initiatives, and gradually improve its capital structure while maintaining investment in innovation.

NEWS

November 25, 2025 · 4:05 PM UTC

Solventum to Participate in the 2025 Piper Sandler Healthcare Conference

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November 20, 2025 · 9:00 AM UTC

Solventum Announces $1 Billion Share Repurchase Program

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November 6, 2025 · 4:05 PM UTC

Solventum Reports Third Quarter 2025 Financial Results

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November 3, 2025 · 4:05 PM UTC

Solventum to Participate in the 2025 Stifel Healthcare Conference

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October 21, 2025 · 5:00 PM UTC

Solventum Appoints Heather Knight as Chief Commercial Officer

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