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The company's financial risk profile has shifted significantly, with total debt increasing from $416.0 million in 2024Q4 to $2.4 billion in 2026Q1, resulting in a debt-to-equity ratio of 1.64.
| Cash & Short Term Investments | 2.34B | 534M | 661M | 606M |
| Cash & Due from Banks | 750M | 534M | 661M | 606M |
| Short Term Investments | 0 | 0 | 0 | 0 |
| Total Investments | 174M | 162M | 146M | 130M |
| Investments Growth % | 10.96% | 10.96% | 12.31% | - |
| Long-Term Investments | 663M | 162M | 146M | 130M |
| Accounts Receivables | 671M | 645M | 569M | 620M |
| Goodwill & Intangibles | 864M | 869M | 847M | 861M |
| Goodwill | 817M | 820M | 806M | 814M |
| Intangible Assets | 47M | 49M | 41M | 47M |
| PP&E (Net) | 2.13B | 2.06B | 1.84B | 1.75B |
| Other Assets | 180M | 199M | 311M | 48M |
| Total Current Assets | 2.57B | 2.39B | 1.86B | 1.87B |
| Total Non-Current Assets | 3.35B | 3.29B | 3.14B | 2.79B |
| Total Assets | 5.92B | 5.67B | 5B | 4.66B |
| Asset Growth % | 35.43% | 13.37% | 7.45% | - |
| Return on Assets (ROA) | 3.72% | 4.44% | 8.74% | 13.33% |
| Accounts Payable | 942M | 909M | 778M | 772M |
| Total Debt | 2.41B | 2.43B | 416M | 229M |
| Net Debt | 1.66B | 1.89B | -245M | -377M |
| Long-Term Debt | 2.06B | 1.98B | 293M | 32M |
| Short-Term Debt | 350M | 324M | 0 | 20M |
| Other Liabilities | 264M | 495M | 133M | 137M |
| Total Current Liabilities | 1.76B | 1.71B | 1.08B | 1.13B |
| Total Non-Current Liabilities | 2.57B | 2.58B | 739M | 504M |
| Total Liabilities | 4.33B | 4.3B | 1.82B | 1.63B |
| Total Equity | 1.59B | 1.38B | 3.18B | 3.03B |
| Equity Growth % | -76.82% | -56.73% | 5.09% | - |
| Equity / Assets (Capital Ratio) | 26.83% | 24.27% | 63.59% | 65.02% |
| Return on Equity (ROE) | 11.03% | 10.4% | 13.59% | 20.51% |
| Book Value per Share | 9.97 | 8.67 | 20.05 | 19.08 |
| Tangible BV per Share | 4.54 | 3.20 | 14.71 | 13.65 |
| Common Stock | 2M | 2M | 0 | 0 |
| Additional Paid-in Capital | 1.51B | 1.5B | 0 | 0 |
| Retained Earnings | 220M | 41M | 0 | 0 |
| Accumulated OCI | -142M | -127M | -213M | -158M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 |
PFAS litigation and leverage
As reported in financial statements, SOLS's debt-to-equity ratio experienced significant swings, rising from 0.13 in 2024Q4 to 1.76 by 2025Q4, suggesting a marked shift in the company's capital structure strategy that warrants close monitoring by investors concerned with long-term balance sheet durability.
The rapid escalation in leverage over the last five quarters indicates a departure from the company's previously conservative financial posture. This shift may imply that management is utilizing debt to fund capital-intensive infrastructure projects or to bridge working capital gaps, which could increase interest expense sensitivity in a volatile rate environment.
Based on recent quarterly filings, total debt surged from $416.0 million in 2024Q4 to $2.4 billion by 2026Q1, representing a substantial increase in financial obligations that may constrain future operational flexibility if cash flow generation does not keep pace with debt service requirements.
The sharp rise in debt levels suggests that the company is moving toward a more aggressive capital structure, potentially to support the expansion of its HFO production capacity. Investors should evaluate whether this debt is being deployed into high-return projects or if it reflects a necessity-driven approach to maintaining liquidity during periods of operational stress.
According to the balance sheet data, net property, plant, and equipment grew from $1.8 billion in 2024Q4 to $2.1 billion in 2026Q1, underscoring the company's commitment to maintaining a heavy industrial footprint to support its proprietary chemical synthesis and purification capabilities.
The concentration of assets in PPE highlights the capital-intensive nature of the specialty chemical business, which necessitates continuous reinvestment to remain competitive. The stability of goodwill at $819 million suggests that the company has not recently engaged in significant acquisitions, focusing instead on organic growth within its existing asset base.
As indicated by the latest quarterly data, the current ratio declined from 1.72 in 2024Q4 to 1.43 in 2026Q1, reflecting a tightening of the company's short-term liquidity buffer as cash reserves fluctuated significantly against rising current liabilities.
The compression of the current ratio suggests that the company's ability to cover short-term obligations is narrowing, which may limit its agility in responding to sudden market downturns or supply chain disruptions. Monitoring the cash runway is essential, as the company's liquidity position appears increasingly sensitive to the timing of working capital inflows and outflows.
Quick answers to the most common questions about buying SOLS stock.
As of 2025, Solstice Advanced Materials Inc. (SOLS) had total assets of $5.67B including $2.39B in current assets.
Solstice Advanced Materials Inc. (SOLS) carries total debt of $2.43B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Solstice Advanced Materials Inc. (SOLS) has total shareholders' equity (book value) of $1.41B ($8.67 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Solstice Advanced Materials Inc. (SOLS) reported a current ratio of 1.39x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.