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Screener / SEC EDGAR /CIK 0001964738 /10-K filed Feb 27, 2026, compared with Feb 28, 2025 /Numbers from the XBRL of the 10-Ks
Health care peers:
ZTSSOLVEWSTEZBHA
NYSE Health care · Medical Instruments

Solventum SOLV

SOLV quote by TradingView
Employees
10,000
Headquarters
Eagan, MN
CEO
Bryan C. Hanson
Next results
around Feb 25, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $8.3B through the costs to a net profit of $1.6B · income statement of the 10-K

26% operating margin
Revenue to Gross profit: $4.5BRevenue to Cost of revenue: $3.9BGross profit to Operating profit: $2.2BGross profit to Operating expenses: $2.3BOperating profit to Net profit: $1.6BOperating profit to Tax & other: $625.0MOperating expenses to R&D: $739.0MOperating expenses to Sales, admin & other: $1.5B Revenue: $8.3B REVENUE $8.3B +1% Y/Y Gross profit: $4.5B · 53% margin GROSS PROFIT $4.5B 53% margin · −3% Y/Y Cost of revenue: $3.9B · 47% of revenue COST OF REVENUE $3.9B 47% of revenue Operating profit: $2.2B · 26% margin OPERATING PROFIT $2.2B 26% margin · +111% Y/Y Operating expenses: $2.3B · 27% of revenue OPERATING EXPENSES $2.3B 27% of revenue Net profit: $1.6B · 19% margin NET PROFIT $1.6B 19% margin · +225% Y/Y Tax & other: $625.0M · 8% of revenue TAX & OTHER $625.0M 8% of revenue R&D: $739.0M · 9% of revenue R&D $739.0M 9% of revenue Sales, admin & other: $1.5B · 18% of revenue SALES, ADMIN & OTHER $1.5B 18% of revenue
Gross profit $4.5B 53% margin · −3% Y/Y
Operating profit $2.2B 26% margin · +111% Y/Y
Net profit $1.6B 19% margin · +225% Y/Y
The full income statement, year by year

SOLV among Health care peers

Six ratios from the latest 10-K. Each corner is the share of 59 peers the company is above, not a score.

Compare
Revenue growth: 0.9%, above 12% of 59 peers (their median 7.2%) REVENUE GROWTH 0.9% · above 12% Gross margin: 54.8%, above 34% of 50 peers (their median 65.2%) GROSS MARGIN 54.8% · above 34% Operating margin: 5.5%, above 32% of 50 peers (their median 13.7%) OPERATING MARGIN 5.5% · above 32% Net margin: 1.9%, above 19% of 59 peers (their median 9.7%) NET MARGIN 1.9% · above 19% FCF margin: 0.0%, above 2% of 55 peers (their median 15.8%) FCF MARGIN 0.0% · above 2% Return on capital: 21.2%, above 90% of 41 peers (their median 9.0%) RETURN ON CAPITAL 21.2% · above 90%
SOLV Peer median Below the median

What changed

15 new risk paragraphs and 2 accounting facts worth reading about. 10-K filed Feb 27, 2026 against Feb 28, 2025.

Risk factors
15 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Cash from operations lower than net income
Cash from operations $369.0M vs net income $1.6B (FY ending Dec 31, 2025)
10-K · XBRL
Critical audit matters changed
New this year: Divestiture of Purification and Filtration Business - Gain on Sale (“As described in Notes 1, 3, and 8 to the consolidated financial statements, on February 25, 2025, the Company entered into a Transaction Agreement to sell its Purification and Filtration business to Thermo Fisher Scientific Inc. ("Buyer"). On June 25, 2025, the Company and Buyer entered into an Amen”); Acquisition of Acera Surgical - Valuation of Developed Technology (“As described in Note 3 to the consolidated financial statements, on December 23, 2025, the Company acquired Acera Surgical (“Acera”) for total purchase consideration of $776 million, which included cash consideration of $696 million, net of cash acquired, and a future milestone payment of an additio”); The principal considerations for our determination that performing procedures relating to the valuation (“of developed technology acquired in the acquisition of Acera is a critical audit matter are (i) the significant judgment by management when developing the fair value estimate of the developed technology acquired; (ii) a high degree of auditor judgment, subjectivity, and effort in performing procedur”). No longer listed: Table of Contents. Same as last year: Revenue Recognition
10-K · XBRL
Accounting checks
9 other checks clear, 2 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

2facts worth reading about the other 9 checks found nothing to note

  • Cash from operations lower than net income
    Cash from operations $369.0M vs net income $1.6B (FY ending Dec 31, 2025)
  • Critical audit matters changed
    New this year: Divestiture of Purification and Filtration Business - Gain on Sale (“As described in Notes 1, 3, and 8 to the consolidated financial statements, on February 25, 2025, the Company entered into a Transaction Agreement to sell its Purification and Filtration business to Thermo Fisher Scientific Inc. ("Buyer"). On June 25, 2025, the Company and Buyer entered into an Amen”); Acquisition of Acera Surgical - Valuation of Developed Technology (“As described in Note 3 to the consolidated financial statements, on December 23, 2025, the Company acquired Acera Surgical (“Acera”) for total purchase consideration of $776 million, which included cash consideration of $696 million, net of cash acquired, and a future milestone payment of an additio”); The principal considerations for our determination that performing procedures relating to the valuation (“of developed technology acquired in the acquisition of Acera is a critical audit matter are (i) the significant judgment by management when developing the fair value estimate of the developed technology acquired; (ii) a high degree of auditor judgment, subjectivity, and effort in performing procedur”). No longer listed: Table of Contents. Same as last year: Revenue Recognition
  • Receivables -1.0% vs revenue +0.9% (-1.8 pts)
8 more checks with nothing to note
  • Inventory +10.5% vs revenue +0.9% (+9.6 pts)
  • Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

15 paragraphs in Risk Factors that were not in the 10-K filed Feb 28, 2025. Quoted as filed.

All 15 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 28, 2025 10-K, ITEM 1A
    The deployment and use of artificial intelligence ("AI"), machine learning, or other emerging technologies in Solventum’s products and services, including as part of its research and development efforts, or its failure to adapt its products or services to industry trends and developments related to such technologies in a timely manner,…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 28, 2025 10-K, ITEM 1A
    Our reputation and our brands could in the future be damaged by negative publicity, whether or not valid. Negative publicity could relate to our company, our brands, our products, our supply chain, our ingredients, our packaging, our sustainability and social impact practices, our employees or any other aspect of our business. Our…
  3. Item 1A · new paragraph · not in the 10-K filed Feb 28, 2025 10-K, ITEM 1A
    Solventum may not be able to effectively integrate acquired businesses into its operations or achieve expected cost savings or profitability from its acquisitions. •unforeseen difficulties in integrating personnel and sales forces, operations, manufacturing, logistics, research and development, information technology, compliance, vendor…
  4. Item 1A · new paragraph · not in the 10-K filed Feb 28, 2025 10-K, ITEM 1A
    Solventum operates globally, including in some jurisdictions that pose potentially elevated risks of fraud or corruption or increased risk of internal control issues, and is subject to risks related to international, federal, state and local treaties, laws and

New risk paragraphs, against peers

Latest 10-K of each, Health care companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$8.1B$8.2B$8.3B$8.3B
Net income$1.3B$1.3B$479.0M$1.6B
Operating cash flow$1.7B$1.9B$1.2B$369.0M
Free cash flow$1.4B$1.6B$805.0M−$10.0M

Revenue, FY2022 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$8.3B ▲ 0.9% in FY2025

FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Solventum, Eagan, MN · from the 10-K filed Feb 27, 2026

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 healthcare forward with innovation powered by insights, clinical intelligence, technology, and manufacturing expertise. Our 70+ year history of discovering and innovating advanced solutions has helped us solve our customers’ toughest challenges.

Headquarters
Eagan, MN
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Nov 5, 2026
Incorporated in
DE

Employees, at the top of the page: "We have approximately 10,000 employees in the United States and approximately 2,000 in Germany" (10-K). Address and exchange: SEC's company file.

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Sources

The 10-K filed Feb 27, 2026 (open at SEC), compared with the 10-K filed Feb 28, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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