SOLV
Solventum Corporation
SOLV's fundamentals are weak and it looks expensive: trading at 99x earnings, about nine times its usual 11x. Its downside scenario is more than ten times its upside.
SOLV Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Under pressure | |
| Weak |
SOLV's revenue and profitability are currently stable, but its cash flow and balance sheet are under pressure.
SOLV PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.1x | $8.21 | -91% |
| Fair | 11x | $10.05 | -89% |
| Forward | 12x | $88.81 | — |
| Expensive | 33x | $29.75 | -67% |
| Current | 99x | $88.81 | — |
Historical ranges are pointers, not guarantees.
SOLV's PE is in its expensive range at 99x. If earnings grow as analysts expect, today's price would be 12x next year's earnings, in its fair range.
SOLV Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for SOLV, with profitability improving.
SOLV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.42 | +725% |
| Q3 2026 | $0.90 | -90% |
| Q2 2026 | $8.19 | +277% |
| Q1 2026 | $8.17 | +276% |
| Q4 2025 | $8.88 | +222% |
| Q3 2025 | $8.69 | +109% |
| Q2 2025 | $2.17 | -65% |
| Q1 2025 | $2.17 | -71% |
| Q4 2024 | $2.76 | -65% |
SOLV earned $0.90 per share over the past year, down 90% from the year before.
SOLV Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.9B | -7% |
| Q2 2026 | $2.2B | +2.2% |
| Q1 2026 | $2B | -3% |
| Q4 2025 | $2B | -3.7% |
| Q3 2025 | $2.1B | +0.7% |
| Q2 2025 | $2.2B | +3.8% |
| Q1 2025 | $2.1B | +2.7% |
| Q4 2024 | $2.1B | +1.9% |
SOLV's revenue has held roughly level: $1.9B last quarter, down 7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3.5% | -77 points |
| Q2 2026 | 8.2% | -1.7 points |
| Q1 2026 | 4% | -3.3 points |
| Q4 2025 | 6.2% | -0.3 points |
| Q3 2025 | 81% | +67 points |
| Q2 2025 | 9.9% | -1.8 points |
| Q1 2025 | 7.3% | -12 points |
| Q4 2024 | 6.5% | -13 points |
SOLV's operating margin was 3.5% last quarter, down 77 points from the same quarter a year ago, near the bottom of its range since 2022.
SOLV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $97M | +$118M |
| Q2 2026 | $144M | +144% |
| Q1 2026 | -$273M | -$193M |
| Q4 2025 | $32M | -65% |
| Q3 2025 | -$21M | -128% |
| Q2 2025 | $59M | -80% |
| Q1 2025 | -$80M | -124% |
| Q4 2024 | $92M | -80% |
SOLV's free cash flow was $0 over the past year, against $50M the year before.
SOLV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.4% | -2.5M shares |
| 1 year | -2.6% | -4.6M shares |
| 3 years | -1.1% | -1.9M shares |
SOLV has 171M diluted shares, down 2.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $48M |
| Q2 2026 | $288M |
| Q1 2026 | $67M |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
SOLV Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.7x | High |
| Q2 2026 | 1.8x | Healthy |
| Q1 2026 | 1.7x | Healthy |
| Q4 2025 | 1.6x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 5.6x | High |
| Q1 2025 | 5.5x | High |
| Q4 2024 | 4.6x | High |
SOLV's net debt is about 4.7 years of its operating earnings (EBITDA), up from 1.3 years a year ago.
SOLV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.0 | Neutral |
| Stochastic | 49.5 | Neutral |
SOLV's weekly RSI is 57 (neutral) and its Stochastic is 50 (neutral).
SOLV PE vs Healthcare Sector
| Metric | SOLV | Sector median | Relative |
|---|---|---|---|
| PE | 99x | 26x | 282% above |
| PE % | 99 | 47 | 52 pts above |
SOLV is trading at 99x earnings, a 282% premium to the Healthcare sector's median of 26x.
SOLV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $87.1 | 2% above |
| 20 week MA | $85.8 | 3.5% above |
| 50 week MA | $79.2 | 12% above |
| 100 week MA | $76.0 | 17% above |
SOLV is in an uptrend: it's above all four of its weekly moving averages, and 17% above its 100-week average.
SOLV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $69.6 | $66.7 | -4% |
| 2025 | $66.7 | $80.5 | +21% |
| 2026 YTD | $80.5 | $88.8 | +10% |
SOLV has finished lower in one of the last two years. It's up 10% so far in 2026.