“Interest expense, net decreased for both the three and six months ended June 30, 2026 as compared to the same period last year due to lower interest expense as a result of lower debt outstanding.”10-Q · Aug 5, 2026 ↗
Solventum Corporation
SOLV
Market read
Solventum Corporation's current read is isolated; its market group is not confirming.
The latest filing is mixed. 0 of 20 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 16 directly disclosed connections are confirming.
- Revenue increased 2.2% versus the comparable filing period.
- Operating margin fell 1.7 percentage points.
- Operating-margin improvement included price, volume, savings programs, and recognition of IEEPA tariff-refund receivables, partly offset by tariffs, inflation, and freight.
Invalidation: The isolated read changes if SOLV's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing is mixed. 0 of 20 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 16 directly disclosed connections are confirming.
- Revenue increased 2.2% versus the comparable filing period.
- Operating margin fell 1.7 percentage points.
- Operating-margin improvement included price, volume, savings programs, and recognition of IEEPA tariff-refund receivables, partly offset by tariffs, inflation, and freight.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Operating margin changed +13.6 percentage points in the latest annual period.
- Net margin changed +12.9 percentage points in the latest annual period.
- Operating cash flow was only 0.24x net income in the latest annual period.
- Tariffs and trade policy has repeated adverse evidence across 5 filings.
- P/E is 55% below the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 11, 2026
87.50Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Business segment operating income margin increased when compared to the same period last year as benefits from price, volume, savings programs, including Transform for the Future, and recognition of receivables for IEEPA tariff refunds, partially offset by ta…”10-Q · Aug 5, 2026 ↗
“Investing Activities In the first six months of 2026, cash flows used in investing activities decreased compared to the first six months of 2025 primarily due to capital spending related to the Purification and Filtration business that was included in the pri…”10-Q · Aug 5, 2026 ↗
“Sales growth for the three months ended June 30, 2026 benefited by approximately $125 million due to these advanced orders.”10-Q · Aug 5, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.8× · EV/sales 2.3×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for SOLV. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment
The latest filing presents a mixed picture
10-Q filed 2026-08-05 against the comparable filing from 2025-08-08.
Capital and cash conversion
Inventory built faster than revenue
Inventory growth exceeded revenue growth and inventory intensity increased.
- Capital spending YoY
- -23.7%
- Capital spending / revenue
- +4.0%
- Free-cash-flow margin
- -3.1%
- FCF margin change
- -2.6 pts
Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.
What improved
- Revenue increased 2.2% versus the comparable filing period.
What weakened
- Operating margin fell 1.7 percentage points.
Filing receipts
“The decrease was driven by the impact of higher sales in advance of the ERP deployment and higher capitalized software development costs, partially offset by additional amortization expense from the acquisition of Acera.”
“Investing Activities In the first six months of 2026, cash flows used in investing activities decreased compared to the first six months of 2025 primarily due to capital spending related to the Purification and Filtration business that was included in the prior year comparable period.”
“The decrease was primarily driven by IEEPA tariff refunds and the benefit from programmatic savings programs, partially offset by inflation and tariff costs, which had minor impacts in both the second quarter and first six months of 2025.”
Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.
Business ecosystem
The relationships behind SOLV
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
TMOThermo Fisher Scientific Inc.supplierMay 5, 2026 ▾
“On February 25, 2025, the Company entered into a Transaction Agreement to sell its Purification and Filtration business to Thermo Fisher Scientific Inc.”
TMOThermo Fisher Scientific Inc.partnerAug 8, 2025 ▾
“On February 25, 2025, the Company entered into a Transaction Agreement to sell its Purification and Filtration business to Thermo Fisher Scientific Inc.”
Depended on by
TMOThermo Fisher Scientific Inc.supplierMay 1, 2026 ▾
“On September 1, 2025, the company acquired, within the Life Sciences Solutions segment, our filtration and separation business, a leading provider of purification and filtration technologies used in the production of biologics as well as in medical technologi…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 16 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
SOLV is currently a Follower in the organic co-movement group Medical Devices. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.