Solventum Corp
SOLV · Surgical & Medical Instruments & Apparatus · 173.2M shares · +0%/yr ↓ buyback · EDGAR filings ↗
Reference price $68.03 · est. market cap ~$11.8B — last insider purchase, 2026-03-10 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B74Diversified healthcare company (3M spinoff: wound care, dental, health IT) — highly profitable, but FCF pressured by separation and leverage.
Strengths
- Highly profitable — operating margin 26% (96th), net margin 19% (94th), ROE 31% (87th)
Risks
- Free cash flow pressured by separation costs — FCF -$10M (47th)
- Leverage — D/E 1.00 (71st)
- Slow growth, separation-execution risk — revenue +1%
Notable findings
- High convictionHigh conviction — notable institutional holders, insider buying, and a strong balance sheet
- RestatementOn June 25, 2025, the Company and Buyer entered into an Amended and Restated Transaction Agreement to exclude the Company’s drinking water filtration business (the "Water Business") from the scope of 8-K ↗
- Exec changeRecent 8-K item 5.02 8-K ↗
- Cash burnNegative free cash flow (-10.0M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, RENAISSANCE TECHNOLOGIES LLC
- Strong balance sheetStrong balance sheet — $878M cash & investments, ~351 quarters of runway
- Insider buyingInsider buying — 1 open-market buy(s) by 1 insider(s) (~$100,344, last 6mo) Form 4 ↗
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, FMR LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- Pending mergerOn June 25, 2025, the Company and Buyer entered into an Amended and Restated Transaction Agreement to exclude the Company’s drinking water filtration business (the "Water Business") from the scope of
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
53.5%
Operating margin
26.2%
Net margin
18.7%
Return on equity
30.8%
Return on assets
10.9%
ROIC
17.1%
Revenue growth (QoQ)
0.5%
Net-income growth
224.8%
Debt / equity
1.0×
Net debt / EBITDA
1.6×
Current ratio
1.2×
Free cash flow
-$10M
EBITDA
$2.7B
Tangible book value
-$3.2B
Cash & investments
$878M
Cash runway
351q
Stock comp / revenue
1.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-13 | Wilcox Mary T | Option exercise | 2.4K | — |
| 2026-05-13 | Wilcox Mary T | Tax withheld | 728 | $74.41 |
| 2026-05-13 | Harrington Paul S | Option exercise | 4.0K | — |
| 2026-05-13 | Harrington Paul S | Tax withheld | 1.7K | $74.41 |
| 2026-05-13 | Landucci Amy | Option exercise | 4.4K | — |
| 2026-05-13 | Landucci Amy | Tax withheld | 2.0K | $74.41 |
| 2026-05-13 | Gomez Tammy L | Option exercise | 4.0K | — |
| 2026-05-13 | Gomez Tammy L | Tax withheld | 1.7K | $74.41 |
| 2026-05-13 | Kirberger Marcela A. | Option exercise | 4.5K | — |
| 2026-05-13 | Kirberger Marcela A. | Tax withheld | 2.0K | $74.41 |
| 2026-05-13 | McMillan Wayde D. | Option exercise | 9.5K | — |
| 2026-05-13 | McMillan Wayde D. | Tax withheld | 4.4K | $74.41 |
| 2026-05-13 | Hanson Bryan C | Option exercise | 34K | — |
| 2026-05-13 | Hanson Bryan C | Tax withheld | 14K | $74.41 |
| 2026-04-30 | Edwards Shirley Ann | Option exercise | 3.4K | — |
| 2026-04-30 | Mily Elizabeth | Option exercise | 3.4K | — |
| 2026-04-30 | Wilson Darryl L. | Option exercise | 3.4K | — |
| 2026-04-30 | DeVore Susan D. | Option exercise | 3.4K | — |
| 2026-04-30 | ALBAN CARLOS | Option exercise | 3.4K | — |
| 2026-04-30 | Wendell Amy McBride | Option exercise | 3.4K | — |
| 2026-04-30 | Harris Bernard A Jr | Option exercise | 3.4K | — |
| 2026-04-30 | EISENBERG GLENN A | Option exercise | 3.4K | — |
| 2026-04-30 | WEILAND JOHN H | Option exercise | 3.4K | — |
| 2026-04-30 | MAY KAREN J | Option exercise | 3.4K | — |
| 2026-04-30 | COX CARRIE SMITH | Option exercise | 4.9K | — |
| 2026-03-27 | Wilcox Mary T | Option exercise | 5.2K | — |
| 2026-03-27 | Wilcox Mary T | Tax withheld | 1.6K | $62.76 |
| 2026-03-27 | Edwards Shirley Ann | Option exercise | 2.0K | — |
| 2026-03-27 | Mily Elizabeth | Option exercise | 2.0K | — |
| 2026-03-27 | Wilson Darryl L. | Option exercise | 2.0K | — |
| 2026-03-27 | DeVore Susan D. | Option exercise | 2.0K | — |
| 2026-03-27 | ALBAN CARLOS | Option exercise | 2.0K | — |
| 2026-03-27 | Wendell Amy McBride | Option exercise | 2.0K | — |
| 2026-03-27 | Harris Bernard A Jr | Option exercise | 2.0K | — |
| 2026-03-27 | EISENBERG GLENN A | Option exercise | 2.0K | — |
| 2026-03-27 | WEILAND JOHN H | Option exercise | 2.0K | — |
| 2026-03-27 | MAY KAREN J | Option exercise | 2.0K | — |
| 2026-03-27 | COX CARRIE SMITH | Option exercise | 6.3K | — |
| 2026-03-10 | Wendell Amy McBride | Buy | 1.5K | $68.03 |
| 2026-03-06 | Harrington Paul S | Option exercise | 3.3K | — |
| 2026-03-06 | Harrington Paul S | Tax withheld | 1.1K | $69.41 |
| 2026-03-06 | Landucci Amy | Option exercise | 3.8K | — |
| 2026-03-06 | Landucci Amy | Tax withheld | 1.7K | $69.41 |
| 2026-03-06 | Gomez Tammy L | Option exercise | 3.3K | — |
| 2026-03-06 | Gomez Tammy L | Tax withheld | 895 | $69.41 |
| 2026-03-06 | Kirberger Marcela A. | Option exercise | 4.2K | — |
| 2026-03-06 | Kirberger Marcela A. | Tax withheld | 1.2K | $69.41 |
| 2026-03-06 | McMillan Wayde D. | Option exercise | 8.8K | — |
| 2026-03-06 | McMillan Wayde D. | Tax withheld | 2.8K | $69.41 |
| 2026-03-06 | Hanson Bryan C | Option exercise | 32K | — |
| 2026-03-06 | Hanson Bryan C | Tax withheld | 10K | $69.41 |
| 2026-02-01 | Landucci Amy | Option exercise | 27K | — |
| 2026-02-01 | Landucci Amy | Tax withheld | 10K | $76.97 |
| 2026-01-02 | Gomez Tammy L | Option exercise | 4.3K | — |
| 2026-01-02 | Gomez Tammy L | Tax withheld | 1.3K | $79.20 |
| 2025-12-01 | Kirberger Marcela A. | Option exercise | 3.8K | — |
| 2025-12-01 | Kirberger Marcela A. | Tax withheld | 1.5K | $85.56 |
| 2025-12-01 | Harrington Paul S | Option exercise | 10K | — |
| 2025-12-01 | Harrington Paul S | Tax withheld | 4.5K | $85.56 |
| 2025-12-01 | McMillan Wayde D. | Option exercise | 28K | — |
| 2025-12-01 | McMillan Wayde D. | Tax withheld | 13K | $85.56 |
| 2025-09-01 | Hanson Bryan C | Option exercise | 67K | — |
| 2025-09-01 | Hanson Bryan C | Tax withheld | 26K | $73.09 |
| 2025-05-13 | COX CARRIE SMITH | Option exercise | 5.1K | — |
| 2025-05-13 | Hanson Bryan C | Option exercise | 34K | — |
| 2025-05-13 | Hanson Bryan C | Tax withheld | 14K | $73.52 |
| 2025-05-13 | Harris Bernard A Jr | Option exercise | 3.6K | — |
| 2025-05-13 | Edwards Shirley Ann | Option exercise | 3.6K | — |
| 2025-05-13 | Wilcox Mary T | Option exercise | 2.4K | — |
| 2025-05-13 | Wilcox Mary T | Tax withheld | 727 | $73.52 |
| 2025-05-13 | DeVore Susan D. | Option exercise | 3.6K | — |
| 2025-05-13 | ALBAN CARLOS | Option exercise | 3.6K | — |
| 2025-05-13 | Harrington Paul S | Option exercise | 4.0K | — |
| 2025-05-13 | Harrington Paul S | Tax withheld | 1.2K | $73.52 |
| 2025-05-13 | Wendell Amy McBride | Option exercise | 3.6K | — |
| 2025-05-13 | MAY KAREN J | Option exercise | 3.6K | — |
| 2025-05-13 | Mily Elizabeth | Option exercise | 3.6K | — |
| 2025-05-13 | Gomez Tammy L | Option exercise | 4.0K | — |
| 2025-05-13 | Gomez Tammy L | Tax withheld | 1.3K | $73.52 |
| 2025-05-13 | Wilson Darryl L. | Option exercise | 3.6K | — |
| 2025-05-13 | WEILAND JOHN H | Option exercise | 3.6K | — |
| 2025-05-13 | EISENBERG GLENN A | Option exercise | 3.6K | — |
| 2025-05-13 | McMillan Wayde D. | Option exercise | 9.5K | — |
| 2025-05-13 | McMillan Wayde D. | Tax withheld | 3.9K | $73.52 |
| 2025-05-13 | Barry Chris | Option exercise | 7.9K | — |
| 2025-05-13 | Barry Chris | Tax withheld | 3.3K | $73.52 |
| 2025-05-13 | Landucci Amy | Option exercise | 4.4K | — |
| 2025-05-13 | Landucci Amy | Tax withheld | 2.0K | $73.52 |
| 2025-05-13 | Kirberger Marcela A. | Option exercise | 4.5K | — |
| 2025-05-13 | Kirberger Marcela A. | Tax withheld | 1.3K | $73.52 |
| 2025-02-01 | Landucci Amy | Option exercise | 27K | — |
| 2025-02-01 | Landucci Amy | Tax withheld | 10K | $74.06 |
| 2025-01-02 | Gomez Tammy L | Option exercise | 4.3K | — |
| 2025-01-02 | Gomez Tammy L | Tax withheld | 1.3K | $65.93 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-05 | 2026-06-02 | 0001964738-26-000036 ↗ |
| 8-K | 2026-05-27 | 2026-05-21 | 0001964738-26-000031 ↗ |
| 8-K | 2026-05-20 | 2026-05-15 | 0001964738-26-000027 ↗ |
| 10-Q | 2026-05-05 | 2026-03-31 | 0001964738-26-000024 ↗ |
| 8-K | 2026-05-05 | 2026-05-05 | 0001964738-26-000022 ↗ |
| 8-K | 2026-03-24 | 2026-03-20 | 0001964738-26-000013 ↗ |
| 10-K | 2026-02-27 | 2025-12-31 | 0001964738-26-000007 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001964738-26-000005 ↗ |
| 8-K | 2025-12-16 | 2025-12-16 | 0001964738-25-000094 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001964738-25-000091 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001964738-25-000089 ↗ |
| 8-K | 2025-10-21 | 2025-10-17 | 0001628280-25-045731 ↗ |