Solventum is a health care company that supplies products and software to hospitals, clinics, dental practices and health systems. Its portfolio covers wound care and surgical supplies, infection prevention, dental and orthodontic products, and software that helps providers manage clinical information and billing. It was spun out of its former parent company and operates through segments built around medical and surgical products, dental solutions and health information systems.
Revenue comes from the products and software that health care providers order, along with service and support. Sales were $8.3 billion over the last twelve months, with growth of 0.8% a year across the last three years. The operating margin is 25.0%, and the business earns a profit of 19% on the capital invested in it. Net debt is 1.8 times EBITDA, and no dividend is paid. On the site's X-Ray Score it receives 49 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
52-wk range $62.38 – $94.16Volume 1,165,400Daily, split-adjusted
Vitals
Market cap$14.9B
52-week range$62.38 – $94.16
Volume (last day)1,165,400
P/E (TTM)10.5
EBIT / EV yield10.6%
Free-cash-flow yield-0.8%
Dividend yieldNo dividend
Revenue (TTM)$8.3B
Net income (TTM)$1.4B
Operating margin25.0%
Return on capital18.5%
Debt incl. leases$5.1B
Cash & securities$403M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$207model spread $200 – $216
Undervalued+141.7% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Weak business, but the price is low
Our models put fair value above today's price, but models can be wrong, so check the business first. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Health Care peers. Open a lens to see the numbers behind it.
ValuationFair
68/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield10.6%
Free-cash-flow yield-0.8%
Fair value vs price2.4×
GrowthWeak
27/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)0.8%
EPS growth (3y)4.5%
Growth consistency80%
ProfitabilityWeak
47/100
Earns lower returns on its capital than most peers.
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Return on invested capital18.5%
Operating margin25.0%
Gross profitability31.9%
Financial healthWeak
48/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score6 / 9
Net debt / EBITDA1.8×
Interest coverNo interest cost
DividendsNone
–/100
Pays no dividend.
See the numbers →
Quarterly results: last 6 quarters
+2.7%Mar '25
+3.8%Jun '25
+0.7%Sep '25
-3.7%Dec '25
-3.0%Mar '26
+2.2%Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $2.2B, diluted EPS $0.53.
Other Health Care Technology companies by X-Ray Score.
Fundamentals checklist
● 4 Good · ● 5 Average · ● 6 Bad
Cash quality
Earnings backed by cashBad
Free-cash-flow yieldBad
Risk models
Altman Z''Bad
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Average
Revenue growth (3y)Bad
Growth consistencyBad
Balance sheet
Current ratioBad
Net debt / EBITDAAverage
Interest coverGood
Valuation
Fair value vs priceGood
EBIT / EV yieldGood
Profitability
Return on invested capitalAverage
Operating marginGood
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 48/100.
Financials
FY22
FY23
FY24
FY25
Revenue
$8.1B
$8.2B
$8.3B
$8.3B
Operating income
$1.7B
$1.7B
$1.0B
$2.2B
Net income
$1.3B
$1.3B
$479M
$1.6B
Operating cash flow
$1.7B
$1.9B
$1.2B
$369M
Operating margin
20.8%
20.6%
12.6%
26.2%
Free cash flow
$1.4B
$1.6B
$805M
−$10M
Diluted EPS
$7.78
$7.79
$2.76
$8.88
Fiscal years, from SEC filings.
Technical summary
Daily
Bearish
4 bullish · 4 neutral · 8 bearish
Weekly
Bullish
7 bullish · 1 neutral · 2 bearish
Monthly
Strongly bullish
4 bullish · 1 neutral · 0 bearish
Moving averages (daily)
SMA 10
86.72
Bearish
EMA 10
86.92
Bearish
SMA 20
87.69
Bearish
EMA 20
87.44
Bearish
SMA 50
88.43
Bearish
EMA 50
86.95
Bearish
SMA 100
83.80
Bullish
EMA 100
84.16
Bullish
SMA 200
78.26
Bullish
EMA 200
80.55
Bullish
Oscillators (daily)
RSI (14)
42.40
Neutral
MACD (12, 26)
-0.54
Bearish
Momentum (12)
-2.65
Bearish
Stochastic %K (14)
38.18
Neutral
Williams %R (14)
-61.82
Neutral
CCI (20)
-72.19
Neutral
Pivot points (classic, last session)
S3
80.51
S2
82.84
S1
84.33
Pivot
86.66
R1
88.15
R2
90.48
R3
91.97
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.