Solventum CorporationSOLV
NYSE•Healthcare•Medical Instruments & Supplies
Solventum Corporation, a healthcare company, develops, manufactures, and commercializes a portfolio of solutions to address critical customer and patient needs in the United States and internationally. It operates through three segments: Medsurg, Dental Solutions, and Health Information Systems. The Medsurg segment offers solutions, such as negative pressure wound therapy, advanced wound dressings, advanced skin care, synthetic tissue matrices, I.V. site management, sterilization assurance, temperature management, surgical supplies, medical tapes and wraps, stethoscopes, medical electrodes, and medical technologies for original equipment manufacturers. The Dental Solutions segment provides dental and orthodontic products, including brackets, aligners, restorative cements, and bonding agents to span the life of the tooth, and products for preventative dental care, direct and indirect restoration, and orthodontic needs. The Health Information Systems segment offers healthcare systems with software solutions comprising computer-assisted physician documentation, direct-to-bill and coding automation, classification methodologies, speech recognition, and data visualization platforms. The company sells its products and services through direct-to-consumer, distribution, key account management, inside sales, and e-commerce. Solventum Corporation was incorporated in 2023 and is headquartered in Eagan, Minnesota.
Solventum Corporation (SOLV) reported trailing twelve months revenue of $8.26B as of March 2026, a 0.6% decline year-over-year. Quarterly revenue reached $2.01B, reflecting a contraction in sales.
Solventum Corporation generated $1.43B in TTM net income, with quarterly EBITDA of $216.00M. The operating margin contracted from 7.3% to 4.0%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (4.0%) and net margin (0.6%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 6.6% a year ago, reflecting increased costs or interest expense.
SOLV trades at a P/E of 7.7x (below the broader market average) and a P/S of 1.3x. The price-to-book ratio of 2.2x reflects a moderate premium to book value.
The company reported negative free cash flow of $-273.00M, indicating cash consumption over the period. The balance sheet shows $14.10B in total assets with $4.58B in long-term debt against $4.97B in stockholders equity for a debt-to-equity ratio of 0.9. Data based on the most recent quarterly reports.
Competitive analysis based on 9 quarters of fundamental data
Operating margins are expanding at ~17.5%, suggesting durable pricing power and cost discipline.
ROE averages 21.4% but has fluctuated — the competitive advantage may be cyclical or emerging.
5 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 9 quarters
Margins are stable or improving at ~25.2% — no sign of cost or pricing stress.
FCF consistently trails net income (avg -1.7x) — earnings may be inflated by non-cash items or aggressive accounting.
D/E ratio is 0.9 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 3 of the last 8 quarters — occasional cash consumption.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation