Solventum debt and dilution25

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

$5,079M

Cash & equivalents

USD millions

$403M

Net debt

USD millions

$4,676M

Debt / equity

1.06×

Debt / assets

35.66%

Net debt / EBITDA

× · TTM

1.81×

Debt / FCF

× · TTM

—

Interest coverage

× · TTM

—

The reported inputs required for this metric are unavailable in the extracted statements for this period.

Current ratio

1.02×

Diluted shares

Million shares

173.3M shares

Basic shares

Million shares

172.7M shares

Share count growth

-0.8%

Share repurchases

USD millions

$288M

Quarterly data

Solventum capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal period	Ended	Total debtUSD millions	Cash & equivalentsUSD millions	Net debtUSD millions	Debt / equity×	Debt / assets%	Net debt / EBITDA×	Debt / FCF×	Interest coverage×	Current ratio×	Diluted sharesMillion shares	Basic sharesMillion shares	Share count growth%	Share repurchasesUSD millions
FY 2026 Q2	Jun 30, 2026	5,079	403	4,676	1.06×	35.66%	1.81×	—	—	1.02×	173.3	172.7	-0.8%	288
FY 2026 Q1	Mar 31, 2026	5,080	561	4,519	1.02×	36.04%	1.74×	—	—	1.07×	175.5	174.2	0.29%	67
FY 2025 Q4	Dec 31, 2025	5,035	878	4,157	1×	35.22%	1.56×	—	—	1.23×	175.89	174.4	0.52%	—
FY 2025 Q3	Sep 30, 2025	5,137	1,642	3,495	1.03×	36.76%	1.29×	102.74×	—	1.5×	175.4	174.3	0.52%	—
FY 2025 Q2	Jun 30, 2025	7,815	492	7,323	2.14×	51.84%	5.59×	53.16×	—	1.22×	175.2	174.1	0.52%	0
FY 2025 Q1	Mar 31, 2025	7,913	534	7,379	2.43×	54.47%	5.46×	20.55×	—	1.19×	174.8	173.7	0.58%	0
FY 2024 Q4	Dec 31, 2024	8,010	762	7,248	2.71×	55.41%	4.56×	9.95×	—	1.2×	174.59	173.5	—	—
FY 2024 Q3	Sep 30, 2024	8,109	772	7,337	2.54×	54.99%	—	—	—	1.15×	173.9	173.4	—	—
FY 2024 Q2	Jun 30, 2024	8,306	897	7,409	2.9×	56.98%	—	—	—	1.31×	173.5	173.2	—	—
FY 2024 Q1	Mar 31, 2024	8,303	996	7,307	2.16×	56.44%	—	—	—	1.81×	172.7	172.7	—	—

Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · SOLV, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt: Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents: Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt: Total debt − cash and equivalents. Negative means net cash.
Debt / equity: Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets: Total debt / total assets × 100.
Net debt / EBITDA: Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF: Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage: TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio: Current assets / positive current liabilities.
Diluted shares: Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares: Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth: Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases: Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.