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Solventum Corporation ("Solventum," "we," "our," "us," or the "Company"), is a leading global healthcare company developing, manufacturing, and commercializing a broad portfolio of solutions that leverages deep material science, data science, and digital capabilities to address critical customer and patient needs. We constantly seek to enable the improvement of standards of care and move health…
Margins and capital returns are both well above average: 26.20% operating margin, ROIC at 18.88%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue growth slowed to 0.9%, essentially flat. This is a business that needs a catalyst.
Free cash flow declined 101% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$10M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$8.26B
▲ +0.9% YoY
Net Income (TTM)
$1.43B
▲ +224.8% YoY
Op. Margin
25.54%
▲ +13.6pp YoY
ROIC
17.57%
▲ +10.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$203M
▼ -101.2% YoY
Op. Cash Flow (TTM)
$151M
▼ -68.9% YoY
Net Debt
$4.73B
Cash & Equiv.
$561M
3Y CAGR: +0.8%
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