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Solventum cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$97.0M in Q3 2026 · $0 over twelve months

Operating cash flow$177M
Capital spending−$80.0M
Free cash flow+$97.0M

Analysis

In Q3 2026, Solventum generated $177M of operating cash flow and spent $80.0M on capital projects, leaving free cash flow of $97.0M. That is $118M more than in Q3 2025 (−$21.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $310M; the largest uses were other investing ($699M), other financing ($462M), capital spending ($310M); besides operations, cash came from asset & business sales ($20.0M); the cash balance fell by $1.2B.

Operating cash flow was $177M against net income of −$12.0M. The largest differences: depreciation & amortization +$136M, payables +$85.0M, inventory −$60.0M.

Free cash flow

Solventum: free cash flow by quarterSolventum: free cash flow by quarter$92.0MQ4 2024−$80.0MQ1 2025$59.0MQ2 2025−$21.0MQ3 2025$32.0MQ4 2025−$273MQ1 2026$144MQ2 2026$97.0MQ3 2026
Operating cash flow less capital spending.
Solventum: operating cash flow against capital spendingSolventum: operating cash flow against capital spendingOperating cash flowCapital spending$219M$127MQ4 2024$29.0M$109MQ1 2025$169M$110MQ2 2025$76.0M$97.0MQ3 2025$95.0M$63.0MQ4 2025−$189M$84.0MQ1 2026$227M$83.0MQ2 2026$177M$80.0MQ3 2026
Latest (Q3 2026): Operating cash flow $177M, Capital spending $80.0M.

Capital allocation, year by year

Solventum: where the cash came from (up) and went (down), by fiscal yearSolventum: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsFY2022: Operating cash flow $1.7BFY2022: Capital spending −$251M$1.7BFY2022FY2023: Operating cash flow $1.9BFY2023: Asset sales $60.0MFY2023: Capital spending −$290M$2.0BFY2023FY2024: Operating cash flow $1.2BFY2024: Net borrowing $8.0BFY2024: Capital spending −$380M$9.2BFY2024FY2025: Operating cash flow $369MFY2025: Net borrowing −$3.1BFY2025: Asset sales $3.9BFY2025: Capital spending −$379MFY2025: Acquisitions −$696M$4.3BFY2025
Over these 4 years operating cash flow totalled $5.1B; the largest uses were net borrowing ($3.1B) and capital spending ($1.3B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$451M
Debt$5.0B
Net debt$4.6B

Solventum funds itself: free cash flow was $0 over the last twelve months, and $451M of cash and investments stands against $5.0B of debt.

Solventum: debt maturities by year (FY2025)Solventum: debt maturities by year (FY2025)$460MYear 2$703MYear 4$3.9BAfter year 5
Principal due in each year as disclosed in the annual report, against $451M of cash and investments now.

Where the cash came from and went

Solventum: sources (+) and uses (−) of cash, Q3 2026Solventum: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$177MCapital spending−$80.0MBuybacks−$48.0MCash drawn (+) / kept (−)−$47.0MOther financing−$3.0MNot reconciled$1.0M
Solventum: sources (+) and uses (−) of cash, TTM to Q3 2026Solventum: sources (+) and uses (−) of cash, TTM to Q3 2026Cash drawn (+) / kept (−)$1.2BOther investing−$699MOther financing−$462MOperating cash flow$310MCapital spending−$310MNet borrowing (+) / repaid (−)−$54.0MAsset & business sales$20.0MExchange rates$2.0MNot reconciled$1.0M

From profit to cash

Solventum: net income to operating cash flow, Q3 2026Solventum: net income to operating cash flow, Q3 2026Net income−$12.0MDepreciation & amortization$136MStock-based pay$42.0MDeferred taxes−$51.0MReceivables−$54.0MInventory−$60.0MPayables$85.0MOperating cash flow$177M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$177M−$80.0M−$48.0M—−$47.0M$97.0M
Q2 2026$227M−$83.0M−$288M—$157M$144M
Q1 2026−$189M−$84.0M−$67.0M$46.0M$318M−$273M
Q4 2025$95.0M−$63.0M—−$100M$764M$32.0M
Q3 2025$76.0M−$97.0M—−$2.8B−$1.1B−$21.0M
Q2 2025$169M−$110M—−$100M$45.0M$59.0M
Q1 2025$29.0M−$109M—−$100M$223M−$80.0M
Q4 2024$219M−$127M—−$100M$10.0M$92.0M

Solventum: income statement and cash flow

Solventum, Q3 2026: revenue $1.9B (-7% year over year), operating margin 3.5%. The chart follows the revenue to costs, profit and cash.

Solventum: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.