Solventum (SOLV) financial statements
Solventum reported revenue of $8.3B in fiscal 2025, up 0.8% a year over 3 years.
Net income was $1.6B and the operating margin 26.2%, against 20.8% in 2022.
Free cash flow was -$10M.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Solventum's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $8.1B | $8.2B | $8.3B | $8.3B |
| Gross profit | $4.7B | $4.7B | $4.6B | $4.5B |
| Research and development | $767M | $758M | $775M | $739M |
| Selling, general and admin | $2.2B | $2.3B | $2.8B | $3.1B |
| Operating income | $1.7B | $1.7B | $1.0B | $2.2B |
| Pre-tax income | $1.7B | $1.7B | $605M | $1.7B |
| Income tax | $349M | $321M | $127M | $157M |
| Net income | $1.3B | $1.3B | $479M | $1.6B |
| EPS (diluted) | $7.78 | $7.79 | $2.76 | $8.88 |
| Diluted shares | 173M | 173M | 174M | 175M |
| Gross margin | 57.7% | 57.3% | 55.6% | 53.5% |
| Operating margin | 20.8% | 20.6% | 12.6% | 26.2% |
| Net margin | 16.5% | 16.4% | 5.8% | 18.7% |
Balance sheet
Fiscal years, from Solventum's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Cash and short-term investments | $61M | $194M | $762M | $878M |
| Receivables | — | $1.3B | $1.0B | $1.0B |
| Inventory | — | $857M | $965M | $1.1B |
| Total current assets | — | $2.5B | $3.2B | $3.9B |
| Property, plant and equipment | — | $1.5B | $1.6B | $1.3B |
| Goodwill | $6.4B | $6.5B | $6.4B | $5.7B |
| Total assets | — | $13.9B | $14.5B | $14.3B |
| Total current liabilities | — | $1.7B | $2.7B | $3.1B |
| Long-term debt | — | $0 | $7.8B | $5.0B |
| Total liabilities | — | $2.3B | $11.5B | $9.2B |
| Shareholders' equity | $11.7B | $11.7B | $3.0B | $5.0B |
| Net debt | -$61M | -$194M | $7.2B | $4.2B |
Cash flow
Fiscal years, from Solventum's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating cash flow | $1.7B | $1.9B | $1.2B | $369M |
| Capital spending | $251M | $290M | $380M | $379M |
| Free cash flow | $1.4B | $1.6B | $805M | -$10M |
| Stock-based compensation | $37M | $39M | $112M | $161M |
| Net borrowing | $0 | $0 | -$300M | -$3.1B |
| Free cash flow margin | 17.6% | 19.8% | 9.8% | -0.1% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for SOLV.
Open SOLV in InvestinglyQuestions
What was Solventum's revenue in 2025?
$8.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Solventum generate?
-$10M in fiscal 2025 (operating cash flow minus capital spending).
From Solventum's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.