Upside case
Bull case
$77+9.1%
SOLV would need investors to value it at roughly 12x earnings — about 1x more generous than today's 11x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
Solventum Corporation (SOLV) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
11
analysts
7 bullish · 1 bearish · 11 covering SOLV
Strong Buy
0
Buy
7
Hold
3
Sell
1
Strong Sell
0
Consensus Target
$98
+37.7% vs today
Scenario Range
$32 – $77
Model bear to bull value window
Coverage
11
Published analyst ratings
Valuation Context
11.0x
Forward P/E · Market cap $12.3B
SOLV price targets
Three scenarios for where SOLV stock could go
Current
~$71
Confidence
52 / 100
Updated
May 1, 2026
Where we are now
Current · $71
Bear
$32
Base
$59
Bull
$77
Market caseClosest to today
Base case
$59-16.9%
At 9x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$32-55.5%
If investor confidence fades or macro conditions deteriorate, a 6x multiple contraction could push SOLV down roughly 55% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Solventum Corporation
SOLV · NYSEHealthcareMedical - Care FacilitiesDecember year-end
Solventum is a healthcare company that develops, manufactures, and commercializes medical solutions across four main segments. It generates revenue primarily from medical surgical supplies (~40% of sales), dental products (~25%), health information systems software (~20%), and purification/filtration technologies (~15%). The company benefits from its established brand recognition and comprehensive product portfolio—spanning from wound care to dental orthodontics—which creates switching costs for healthcare providers.
Market Cap
$12.3B
Revenue TTM
$8.3B
Net Income TTM
$1.4B
Net Margin
17.3%
SOLV Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
100%Exceptional
12 quarters tracked
Revenue Beat Rate
100%Exceptional
vs consensus estimates
Avg EPS Surprise
+10.5%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$1.69/$1.45
Revenue
$2.2B/$2.1B
Q4 2025
EPS
$1.50/$1.43
Revenue
$2.1B/$2.1B
Q1 2026
EPS
$1.57/$1.50
Revenue
$2.0B/$2.0B
Q2 2026
EPS
$1.48/$1.35
Revenue
$2.0B/$2.0B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $1.69/$1.45 | +16.6% | $2.2B/$2.1B | +2.0% |
| Q4 2025 | $1.50/$1.43 | +4.9% | $2.1B/$2.1B | +2.0% |
| Q1 2026 | $1.57/$1.50 | +4.7% | $2.0B/$2.0B | +1.8% |
| Q2 2026 | $1.48/$1.35 | +9.6% | $2.0B/$2.0B | +2.0% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$8.3B
+0.3% YoY
FY2
$8.4B
+1.5% YoY
EPS Outlook
FY1
$7.45
-8.7% YoY
FY2
$7.38
-0.9% YoY
Trailing FCF (TTM)-$203M
FCF Margin: -2.5%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
SOLV beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
SOLV Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $6.3B
Product Mix
Latest annual revenue by segment or product family
Product
100.0%
+0.0% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
56.1%
-1.7% YoY
Tap, hover, or focus a slice to inspect segment detail.
Product is the largest disclosed segment at 100.0% of FY 2025 revenue, up 0.0% YoY.
UNITED STATES is the largest reported region at 56.1%, down 1.7% YoY.
SOLV Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Undervalued
Fair value est. $202 — implies +202.6% from today's price.
Upside to Fair Value
202.6%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
SOLV
8.0x
vs
S&P 500
25.2x
68% discount
vs Healthcare Trailing P/E
SOLV
8.0x
vs
Healthcare
22.1x
64% discount
vs SOLV 5Y Avg P/E
Today
8.0x
vs
5Y Average
16.4x
51% discount
Forward PE
11.0x
S&P 500
19.1x
-42%
Healthcare
19.0x
-42%
5Y Avg
—
—
Trailing PE
8.0x
S&P 500
25.2x
-68%
Healthcare
22.1x
-64%
5Y Avg
16.4x
-51%
PEG Ratio
—
S&P 500
1.75x
—
Healthcare
1.52x
—
5Y Avg
—
—
EV/EBITDA
6.2x
S&P 500
15.3x
-60%
Healthcare
14.1x
-56%
5Y Avg
9.3x
-33%
Price/FCF
—
S&P 500
21.3x
—
Healthcare
18.7x
—
5Y Avg
14.3x
—
Price/Sales
1.5x
S&P 500
3.1x
-53%
Healthcare
2.8x
-48%
5Y Avg
1.5x
-3%
Dividend Yield
—
S&P 500
1.88%
—
Healthcare
1.40%
—
5Y Avg
—
—
| Metric | SOLV | S&P 500 | Healthcare | 5Y Avg SOLV |
|---|---|---|---|---|
| Forward PE | 11.0x | 19.1x-42% | 19.0x-42% | — |
| Trailing PE | 8.0x | 25.2x-68% | 22.1x-64% | 16.4x-51% |
| PEG Ratio | — | 1.75x | 1.52x | — |
| EV/EBITDA | 6.2x | 15.3x-60% | 14.1x-56% | 9.3x-33% |
| Price/FCF | — | 21.3x | 18.7x | 14.3x |
| Price/Sales | 1.5x | 3.1x-53% | 2.8x-48% | 1.5x |
| Dividend Yield | — | 1.88% | 1.40% | — |
SOLV trades above S&P 500 benchmarks on 0 of 4 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolSOLV Financial Health
Verdict
Stressed
SOLV 16.9% ROIC signals a durable competitive advantage.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$8.3B
Revenue Growth
TTM vs prior year
-0.6%
Gross Margin
Gross profit as a share of revenue
53.7%
Operating Margin
Operating income divided by revenue
25.5%
Net Margin
Net income divided by revenue
17.3%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$8.16
Free Cash Flow (TTM)
Cash generation after capex
-$203M
FCF Margin
FCF as share of revenue — the primary cash quality signal
-2.5%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
16.9%
ROA
Return on assets, trailing twelve months
10.0%
Cash & Equivalents
Liquid assets on the balance sheet
$878M
Net Debt
Total debt minus cash
$4.2B
Debt Serviceability
Net debt as a multiple of annual free cash flow
—
ROE
Return on equity, trailing twelve months
30.7%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.0%
Dividend
—
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Current diluted share count
173M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageSOLV Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Financial Performance
Solventum has seen a significant drop in net income, from $321 million in Q2 2023 to $89 million in Q2 2024. Operating income also decreased during the same period, with earnings forecast to decline by an average of 5.5% per year for the next three years.
High Risk
Demand and Competition
Solventum faced seven consecutive quarters of negative volume growth prior to its spin-off, suggesting persistent declines in product demand. Increased competition could also pressure sales and margins, further impacting financial performance.
Medium
Separation from 3M
The spin-off from 3M may present transitional challenges for Solventum, potentially affecting its operational efficiency and market positioning as it navigates its new independent status.
Medium
Tariffs
The company anticipates a gross margin decline of approximately 40 basis points in 2026, largely due to the impact of tariffs. This could negatively affect profitability and overall financial health.
Medium
Credit Ratings
Changes in Solventum's credit ratings could affect its ability to secure financing and increase its cost of capital. A downgrade to below investment-grade could lead some customers to reduce or cease business with the company.
Lower
Shareholder Rights and Takeovers
Anti-takeover provisions in the company's charter could allow the board to resist takeover attempts and limit shareholder power, potentially affecting investor returns.
Lower
Stock Price Volatility
While the stock price has been stable in the past three months, there's a risk that substantial sales of Solventum stock by 3M or others could cause the stock price to decline.
Lower
Dividend Policy
Solventum does not currently intend to pay dividends, meaning investors must rely on stock appreciation for returns, which may not appeal to income-focused investors.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why SOLV Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Turnaround Opportunity
As a newly spun-off company from 3M, SOLV is seen as presenting a compelling turnaround opportunity. This transition positions the company to capitalize on its unique market potential.
Strong Leadership
CEO Bryan Hanson, with a background in operational turnarounds and supply chain optimization, is considered a key catalyst for the company's improvement. His leadership is expected to drive strategic initiatives that enhance operational efficiency.
Deleveraging
Following the sale of its water filtration business, SOLV has significantly reduced its debt load, improving its financial flexibility. This reduction in debt positions the company for future investments and growth.
Growth Targets
Management has set ambitious long-term targets, including 4-5% annual sales growth and 10% annual earnings growth. Indications suggest that the company is ahead of schedule to meet these objectives, reflecting strong operational performance.
Financial Performance
SOLV has demonstrated strong Q4 results, with earnings and sales beating estimates. The company also reported strong Q3 results with organic sales growth and margin expansion, showcasing its operational strength.
Positive Analyst Sentiment
While consensus ratings vary, a significant number of analysts have a 'Buy' rating on SOLV. The average 12-month price target from analysts is around $89.45, representing a potential upside of over 30% from recent prices.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
SOLV Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$71.00
52W Range Position
33%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$62.38
+13.8% from the low
52-Week High
$88.20
-19.5% from the high
1 Month
+12.26%
3 Month
-9.11%
YTD
-10.1%
1 Year
+8.5%
3Y CAGR
-3.9%
5Y CAGR
-2.4%
10Y CAGR
-1.2%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
SOLV vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
11.0x
vs 12.4x median
-12% below peer median
Revenue Growth
+0.3%
vs +2.9% median
-90% below peer median
Net Margin
17.3%
vs 8.0% median
+116% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
SOL SOLV Solventum Corporation | $12.3B | 11.0x | +0.3% | 17.3% | Buy | +37.7% |
BAX BAX Baxter International Inc. | $8.8B | 8.9x | +2.9% | -9.7% | Hold | +16.3% |
BDX BDX Becton, Dickinson and Company | $52.4B | 11.6x | +2.3% | 8.0% | Buy | +19.4% |
COO COO The Cooper Companies, Inc. | $12.0B | 13.2x | +5.9% | 9.7% | Buy | +53.6% |
HOL HOLX Hologic, Inc. | $17.0B | 17.2x | +0.3% | 13.2% | Hold | +3.9% |
ICU ICU SeaStar Medical Holding Corporation | $29M | — | +1195.6% | -1551.1% | — | — |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
FAQ
7 questionsSOLV Investor Questions
Common questions answered from live analyst data and company financials.
01Is Solventum Corporation (SOLV) stock a buy or sell in 2026?
Solventum Corporation (SOLV) is rated Buy by Wall Street analysts as of 2026. Of 11 analysts covering the stock, 7 rate it Buy or Strong Buy, 3 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $98, implying +37.7% from the current price of $71. The bear case scenario is $32 and the bull case is $77.
02What is the SOLV stock price target for 2026?
The Wall Street consensus price target for SOLV is $98 based on 11 analyst estimates. The high-end target is $105 (+47.9% from today), and the low-end target is $92 (+29.6%). The base case model target is $59.
03Is Solventum Corporation (SOLV) stock overvalued in 2026?
SOLV trades at 11.0x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals significantly undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Solventum Corporation (SOLV) stock in 2026?
The primary risks for SOLV in 2026 are: (1) Financial Performance — Solventum has seen a significant drop in net income, from $321 million in Q2 2023 to $89 million in Q2 2024. (2) Demand and Competition — Solventum faced seven consecutive quarters of negative volume growth prior to its spin-off, suggesting persistent declines in product demand. (3) Separation from 3M — The spin-off from 3M may present transitional challenges for Solventum, potentially affecting its operational efficiency and market positioning as it navigates its new independent status. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Solventum Corporation's revenue and earnings forecast?
Analyst consensus estimates SOLV will report consensus revenue of $8.3B (+0.3% year-over-year) and EPS of $7.45 (-8.7% year-over-year) for the upcoming fiscal year. The following year, analysts project $8.4B in revenue.
06When does Solventum Corporation (SOLV) report its next earnings?
A confirmed upcoming earnings date for SOLV is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Solventum Corporation generate?
Solventum Corporation (SOLV) had a free cash outflow of $203M in free cash flow over the trailing twelve months — a free cash flow margin of 2.5%. SOLV returns capital to shareholders through and share repurchases ($0 TTM).