What is Solventum Corporation's earnings per share (EPS)?

Solventum Corporation (SOLV) reported diluted earnings per share of $8.88 for fiscal year 2025. This represents a 221.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Solventum Corporation Financials

SOLV

FY2025 annual

Revenue $8.3B +0.9% YoY

Net Income $1.6B +224.8% YoY

EPS (Diluted) $8.88 +221.7% YoY

Free Cash Flow -$10.0M -101.2% YoY

Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE December

Solventum Corporation (SOLV) reported $8.3B in revenue for fiscal year 2025, up 0.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI SOLV FY2025 2026-05-05

FY2025 shows a below-gross-line earnings rebound and balance-sheet repair, but the business lost its usual cash conversion.

FY2025 profit recovery did not start with stronger product economics, because gross margin kept sliding to 53.5% from 55.7%. Yet operating margin jumped to 26.2% from 12.6%, which makes the earnings swing look driven by costs or charges below gross profit rather than by a cleaner revenue mix.

Cash conversion weakened abruptly: net income reached $1.56B, but free cash flow was -$10M. That split means the reported recovery was not matched by spendable cash, so accounting earnings and operating liquidity told very different stories in the latest year, with the rebound much stronger on paper than in cash.

Balance-sheet repair was meaningful, with debt-to-equity improving to 1.0x from 2.6x. But current ratio stayed around 1.2x, meaning day-to-day funding still relies on working capital turnover and ongoing cash generation rather than on a large cash cushion.

Financial Health Signals

Financial Health Score 51/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Solventum Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Solventum Corporation has an operating margin of 26.2%, meaning the company retains $26 of operating profit per $100 of revenue. This strong profitability earns a score of 70/100, reflecting efficient cost management and pricing power. This is up from 12.6% the prior year.

Growth

Solventum Corporation's revenue grew a modest 0.9% year-over-year to $8.3B. This slow but positive growth earns a score of 34/100.

Leverage

Solventum Corporation has a moderate D/E ratio of 1.00. This balance of debt and equity financing earns a leverage score of 35/100.

Liquidity

Solventum Corporation's current ratio of 1.23 indicates adequate short-term liquidity, earning a score of 30/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While Solventum Corporation generated $369.0M in operating cash flow, capex of $379.0M consumed most of it, leaving -$10.0M in free cash flow. This results in a low score of 56/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Solventum Corporation earns a strong 30.8% return on equity (ROE), meaning it generates $31 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 78/100. This is up from 16.2% the prior year.

Altman Z-Score Grey Zone

2.31

Solventum Corporation scores 2.31, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

6/9

Solventum Corporation passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.24x

For every $1 of reported earnings, Solventum Corporation generates $0.24 in operating cash flow ($369.0M OCF vs $1.6B net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$8.3B

YoY+0.9%

Solventum Corporation generated $8.3B in revenue in fiscal year 2025. This represents an increase of 0.9% from the prior year.

EBITDA

$2.7B

YoY+67.8%

Solventum Corporation's EBITDA was $2.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 67.8% from the prior year.

Net Income

$1.6B

YoY+224.8%

Solventum Corporation reported $1.6B in net income in fiscal year 2025. This represents an increase of 224.8% from the prior year.

EPS (Diluted)

$8.88

YoY+221.7%

Solventum Corporation earned $8.88 per diluted share (EPS) in fiscal year 2025. This represents an increase of 221.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$10.0M

YoY-101.2%

Solventum Corporation recorded an outflow of $10.0M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 101.2% from the prior year.

Cash & Debt

$878.0M

YoY+15.2%

Solventum Corporation held $878.0M in cash against $5.0B in long-term debt as of fiscal year 2025.

Shares Outstanding

173M

YoY+0.4%

Solventum Corporation had 173M shares outstanding in fiscal year 2025. This represents an increase of 0.4% from the prior year.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Gross Margin

53.5%

YoY-2.2pp

Solventum Corporation's gross margin was 53.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.2 percentage points from the prior year.

Operating Margin

26.2%

YoY+13.7pp

Solventum Corporation's operating margin was 26.2% in fiscal year 2025, reflecting core business profitability. This is up 13.7 percentage points from the prior year.

Net Margin

18.7%

YoY+12.9pp

Solventum Corporation's net profit margin was 18.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 12.9 percentage points from the prior year.

Return on Equity

30.8%

YoY+14.6pp

Solventum Corporation's ROE was 30.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 14.6 percentage points from the prior year.

Capital Allocation

R&D Spending

$739.0M

YoY-4.6%

Solventum Corporation invested $739.0M in research and development in fiscal year 2025. This represents a decrease of 4.6% from the prior year.

Capital Expenditures

$379.0M

YoY-0.3%

Solventum Corporation invested $379.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 0.3% from the prior year.

Share Buybacks

Not reported for fiscal year 2025.

SOLV Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

SOLV annual income statement

Metric	TTM	FY25	FY24	FY23	FY22
Revenue	$8.3B	$8.3B+0.9%	$8.3B+0.7%	$8.2B+0.8%	$8.1B
Gross Profit	$4.5B	$4.5B-3.1%	$4.6B-2.1%	$4.7B0.0%	$4.7B
R&D Expenses	$724.0M	$739.0M-4.6%	$775.0M+2.2%	$758.0M-1.2%	$767.0M
SG&A Expenses	$3.3B	$3.1B+10.7%	$2.8B+21.0%	$2.3B+2.9%	$2.2B
Operating Income	$2.1B	$2.2B+110.5%	$1.0B-38.8%	$1.7B-0.1%	$1.7B
Income Tax	$261.0M	$157.0M+23.6%	$127.0M-60.4%	$321.0M-8.0%	$349.0M
Net Income	$1.4B	$1.6B+224.8%	$479.0M-64.4%	$1.3B+0.2%	$1.3B
EPS (Diluted)	—	$8.88+221.7%	$2.76-64.6%	$7.79+0.1%	$7.78

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$2.2B+10.1%	$2.0B+0.5%	$2.0B-4.7%	$2.1B-3.0%	$2.2B+4.4%	$2.1B-0.2%	$2.1B-0.3%	$2.1B
Gross Profit	$1.3B+17.2%	$1.1B+6.8%	$1.0B-9.5%	$1.1B-3.4%	$1.2B+5.5%	$1.1B-0.4%	$1.1B-3.9%	$1.2B
R&D Expenses	$178.0M-5.8%	$189.0M+8.6%	$174.0M-4.9%	$183.0M-3.2%	$189.0M-2.1%	$193.0M-3.0%	$199.0M+5.3%	$189.0M
SG&A Expenses	$927.0M+12.1%	$827.0M+9.0%	$759.0M-2.7%	$780.0M+1.0%	$772.0M+0.4%	$769.0M-1.9%	$784.0M+11.8%	$701.0M
Operating Income	$181.0M+123.5%	$81.0M-35.2%	$125.0M-92.6%	$1.7B+689.7%	$214.0M+40.8%	$152.0M+11.8%	$136.0M-50.5%	$275.0M
Income Tax	$15.0M+400.0%	$3.0M+160.0%	-$5.0M-102.0%	$248.0M+1807.7%	$13.0M+113.1%	-$99.0M-482.4%	-$17.0M-137.8%	$45.0M
Net Income	$92.0M+607.7%	$13.0M-79.4%	$63.0M-95.0%	$1.3B+1306.7%	$90.0M-34.3%	$137.0M+341.9%	$31.0M-74.6%	$122.0M
EPS (Diluted)	$0.53+657.1%	$0.07	N/A	$7.22+1315.7%	$0.51-34.6%	$0.78	N/A	$0.70

Not reported in any period shown, so not listed: Cost of Revenue, Interest Expense.

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

SOLV Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

SOLV annual balance sheet

Metric	FY25	FY24	FY23	FY22
Total Assets	$14.3B-1.1%	$14.5B+3.7%	$13.9B	N/A
Current Assets	$3.9B+18.8%	$3.2B+29.0%	$2.5B	N/A
Cash & Equivalents	$878.0M+15.2%	$762.0M+292.8%	$194.0M+218.0%	$61.0M
Inventory	$1.1B+10.5%	$965.0M+12.6%	$857.0M	N/A
Accounts Receivable	$1.0B-1.0%	$1.0B-20.5%	$1.3B	N/A
Goodwill	$5.7B-10.6%	$6.4B-2.4%	$6.5B+1.6%	$6.4B
Total Liabilities	$9.2B-19.6%	$11.5B+405.0%	$2.3B	N/A
Current Liabilities	$3.1B+16.0%	$2.7B+56.4%	$1.7B	N/A
Long-Term Debt	$5.0B-35.5%	$7.8B	$0	N/A
Total Equity	$5.0B+70.6%	$3.0B-74.6%	$11.7B-0.6%	$11.7B
Retained Earnings	$1.8B+642.6%	$242.0M	$0	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$14.2B+1.0%	$14.1B-1.4%	$14.3B+2.3%	$14.0B-7.3%	$15.1B+3.8%	$14.5B+0.5%	$14.5B-2.0%	$14.7B
Current Assets	$3.7B+4.4%	$3.6B-7.2%	$3.9B-12.4%	$4.4B+37.4%	$3.2B+5.1%	$3.1B-6.0%	$3.2B-3.1%	$3.4B
Cash & Equivalents	$403.0M-28.2%	$561.0M-36.1%	$878.0M-46.5%	$1.6B+233.7%	$492.0M-7.9%	$534.0M-29.9%	$762.0M-1.3%	$772.0M
Inventory	$1.0B-4.5%	$1.1B+2.2%	$1.1B+1.6%	$1.0B+9.0%	$962.0M+11.1%	$866.0M-10.3%	$965.0M+1.3%	$953.0M
Accounts Receivable	$1.3B+23.7%	$1.1B+2.4%	$1.0B+1.5%	$1.0B-4.3%	$1.1B+15.0%	$926.0M-11.3%	$1.0B-5.5%	$1.1B
Goodwill	$5.6B0.0%	$5.6B-1.4%	$5.7B+8.4%	$5.3B-0.3%	$5.3B+5.7%	$5.0B-21.7%	$6.4B-3.3%	$6.6B
Total Liabilities	$9.4B+3.5%	$9.1B-1.3%	$9.2B+2.9%	$9.0B-21.4%	$11.4B+1.5%	$11.3B-2.0%	$11.5B-0.5%	$11.6B
Current Liabilities	$3.7B+9.5%	$3.3B+6.7%	$3.1B+6.7%	$2.9B+12.1%	$2.6B+2.1%	$2.6B-5.1%	$2.7B-6.9%	$2.9B
Long-Term Debt	$4.6B0.0%	$4.6B-9.1%	$5.0B-2.0%	$5.1B-34.3%	$7.8B0.0%	$7.8B0.0%	$7.8B0.0%	$7.8B
Total Equity	$4.8B-3.4%	$5.0B-1.6%	$5.0B+1.3%	$5.0B+36.8%	$3.6B+11.7%	$3.3B+10.2%	$3.0B-7.3%	$3.2B
Retained Earnings	$1.9B+5.1%	$1.8B+0.7%	$1.8B+3.6%	$1.7B+270.5%	$468.0M+23.8%	$378.0M+56.2%	$242.0M+14.7%	$211.0M

SOLV Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

SOLV annual cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22
Operating Cash Flow	$209.0M	$369.0M-68.9%	$1.2B-38.1%	$1.9B+14.1%	$1.7B
Capital Expenditures	$327.0M	$379.0M-0.3%	$380.0M+31.0%	$290.0M+15.5%	$251.0M
Free Cash Flow	-$118.0M	-$10.0M-101.2%	$805.0M-50.5%	$1.6B+13.8%	$1.4B
Investing Cash Flow	$2.9B	$2.8B+836.1%	-$380.0M-65.2%	-$230.0M+9.1%	-$253.0M
Financing Cash Flow	-$3.2B	-$3.1B-1173.8%	-$240.0M+84.5%	-$1.6B-6.3%	-$1.5B

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$227.0M+220.1%	-$189.0M-298.9%	$95.0M+25.0%	$76.0M-55.0%	$169.0M+482.8%	$29.0M-86.8%	$219.0M+29.6%	$169.0M
Capital Expenditures	$83.0M-1.2%	$84.0M+33.3%	$63.0M-35.1%	$97.0M-11.8%	$110.0M+0.9%	$109.0M-14.2%	$127.0M+36.6%	$93.0M
Free Cash Flow	$144.0M+152.7%	-$273.0M-953.1%	$32.0M+252.4%	-$21.0M-135.6%	$59.0M+173.8%	-$80.0M-187.0%	$92.0M+21.1%	$76.0M
Investing Cash Flow	-$87.0M-13.0%	-$77.0M+89.7%	-$745.0M-119.8%	$3.8B+3523.6%	-$110.0M+3.5%	-$114.0M+10.2%	-$127.0M-36.6%	-$93.0M
Financing Cash Flow	-$300.0M-500.0%	-$50.0M+56.5%	-$115.0M+95.7%	-$2.7B-2348.2%	-$110.0M+20.9%	-$139.0M-33.7%	-$104.0M+48.5%	-$202.0M
Share Buybacks	$288.0M+329.9%	$67.0M	N/A	N/A	$0	$0	N/A	N/A

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

SOLV Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

SOLV annual financial ratios

Metric	FY25	FY24	FY23	FY22
Gross Margin	53.5%-2.2pp	55.6%-1.6pp	57.3%-0.5pp	57.8%
Operating Margin	26.2%+13.7pp	12.6%-8.1pp	20.6%-0.2pp	20.8%
Net Margin	18.7%+12.9pp	5.8%-10.6pp	16.4%-0.1pp	16.5%
Return on Equity	30.8%+14.6pp	16.2%+4.6pp	11.5%+0.1pp	11.4%
Return on Assets	10.9%+7.6pp	3.3%-6.3pp	9.7%	N/A
Current Ratio	1.230.0x	1.20-0.3x	1.46	N/A
Debt-to-Equity	1.00-1.6x	2.64+2.6x	0.00	N/A
FCF Margin	-0.1%-9.9pp	9.8%-10.1pp	19.8%+2.3pp	17.6%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	58.2%+3.6pp	54.7%+3.3pp	51.4%-2.7pp	54.1%-0.2pp	54.4%+0.5pp	53.8%-0.1pp	53.9%-2.0pp	56.0%
Operating Margin	8.2%+4.2pp	4.0%-2.2pp	6.3%-74.4pp	80.6%+70.7pp	9.9%+2.6pp	7.3%+0.8pp	6.6%-6.7pp	13.2%
Net Margin	4.2%+3.5pp	0.7%-2.5pp	3.1%-57.3pp	60.4%+56.2pp	4.2%-2.5pp	6.6%+5.1pp	1.5%-4.4pp	5.9%
Return on Equity	1.9%+1.7pp	0.3%-1.0pp	1.3%-24.1pp	25.4%+22.9pp	2.5%-1.7pp	4.2%+3.1pp	1.1%-2.8pp	3.8%
Return on Assets	0.7%+0.6pp	0.1%-0.4pp	0.4%-8.6pp	9.1%+8.5pp	0.6%-0.3pp	0.9%+0.7pp	0.2%-0.6pp	0.8%
Current Ratio	1.020.0x	1.07-0.2x	1.23-0.3x	1.50+0.3x	1.220.0x	1.190.0x	1.200.0x	1.16
Debt-to-Equity	0.950.0x	0.92-0.1x	1.000.0x	1.03-1.1x	2.14-0.3x	2.40-0.2x	2.64+0.2x	2.45
FCF Margin	6.5%+20.1pp	-13.6%-15.2pp	1.6%+2.6pp	-1.0%-3.7pp	2.7%+6.6pp	-3.9%-8.3pp	4.4%+0.8pp	3.6%

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Where Solventum Corporation Ranks

Frequently Asked Questions

What is Solventum Corporation's annual revenue?

Solventum Corporation (SOLV) reported $8.3B in total revenue for fiscal year 2025. This represents a 0.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Solventum Corporation's revenue growing?

Solventum Corporation (SOLV) revenue grew by 0.9% year-over-year, from $8.3B to $8.3B in fiscal year 2025.

Is Solventum Corporation profitable?

Yes, Solventum Corporation (SOLV) reported a net income of $1.6B in fiscal year 2025, with a net profit margin of 18.7%.

What is Solventum Corporation's EBITDA?

Solventum Corporation (SOLV) had EBITDA of $2.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Solventum Corporation have?

As of fiscal year 2025, Solventum Corporation (SOLV) had $878.0M in cash and equivalents against $5.0B in long-term debt.

What is Solventum Corporation's gross margin?

Solventum Corporation (SOLV) had a gross margin of 53.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Solventum Corporation's operating margin?

Solventum Corporation (SOLV) had an operating margin of 26.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Solventum Corporation's net profit margin?

Solventum Corporation (SOLV) had a net profit margin of 18.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Solventum Corporation's return on equity (ROE)?

Solventum Corporation (SOLV) has a return on equity of 30.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Solventum Corporation's free cash flow?

Solventum Corporation (SOLV) recorded an outflow of $10.0M in free cash flow during fiscal year 2025. This represents a -101.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Solventum Corporation's operating cash flow?

Solventum Corporation (SOLV) generated $369.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Solventum Corporation's total assets?

Solventum Corporation (SOLV) had $14.3B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Solventum Corporation's capital expenditures?

Solventum Corporation (SOLV) invested $379.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Solventum Corporation spend on research and development?

Solventum Corporation (SOLV) invested $739.0M in research and development during fiscal year 2025.

How many shares does Solventum Corporation have outstanding?

Solventum Corporation (SOLV) had 173M shares outstanding as of fiscal year 2025.

What is Solventum Corporation's current ratio?

Solventum Corporation (SOLV) had a current ratio of 1.23 as of fiscal year 2025, which is considered adequate.

What is Solventum Corporation's debt-to-equity ratio?

Solventum Corporation (SOLV) had a debt-to-equity ratio of 1.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Solventum Corporation's return on assets (ROA)?

Solventum Corporation (SOLV) had a return on assets of 10.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Solventum Corporation's Altman Z-Score?

Solventum Corporation (SOLV) has an Altman Z-Score of 2.31, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Solventum Corporation's Piotroski F-Score?

Solventum Corporation (SOLV) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Solventum Corporation's earnings high quality?

Solventum Corporation (SOLV) has an earnings quality ratio of 0.24x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Solventum Corporation?

Solventum Corporation (SOLV) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.