vs
Side-by-side financial comparison of Solventum (SOLV) and WATSCO INC (WSO). Click either name above to swap in a different company.
Solventum is the larger business by last-quarter revenue ($2.0B vs $1.6B, roughly 1.3× WATSCO INC). WATSCO INC runs the higher net margin — 4.5% vs 0.6%, a 3.9% gap on every dollar of revenue. On growth, Solventum posted the faster year-over-year revenue change (-3.0% vs -10.0%). WATSCO INC produced more free cash flow last quarter ($388.5M vs $-273.0M). Over the past eight quarters, WATSCO INC's revenue compounded faster (0.4% CAGR vs -1.8%).
Solventum Corporation is an American health care company that was spun off from 3M on April 1, 2024.
Watsco, Inc. is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the United States. Watsco was founded more than 60 years ago as a manufacturer of parts, components, and tools used in the HVAC/R industry. In 1989, the company shifted from manufacturing to distribution, by acquiring Gemaire Distributors Inc., a South Florida-based Rheem distributor.
SOLV vs WSO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $1.6B |
| Net Profit | $13.0M | $71.7M |
| Gross Margin | 54.7% | 27.1% |
| Operating Margin | 4.0% | 6.4% |
| Net Margin | 0.6% | 4.5% |
| Revenue YoY | -3.0% | -10.0% |
| Net Profit YoY | — | -25.9% |
| EPS (diluted) | $0.07 | $1.82 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $1.6B | ||
| Q3 25 | $2.1B | $2.1B | ||
| Q2 25 | $2.2B | $2.1B | ||
| Q1 25 | $2.1B | $1.5B | ||
| Q4 24 | $2.1B | $1.8B | ||
| Q3 24 | $2.1B | $2.2B | ||
| Q2 24 | $2.1B | $2.1B |
| Q1 26 | $13.0M | — | ||
| Q4 25 | $63.0M | $71.7M | ||
| Q3 25 | $1.3B | $161.6M | ||
| Q2 25 | $90.0M | $183.6M | ||
| Q1 25 | $137.0M | $80.1M | ||
| Q4 24 | $31.0M | $96.8M | ||
| Q3 24 | $122.0M | $171.0M | ||
| Q2 24 | $89.0M | $181.4M |
| Q1 26 | 54.7% | — | ||
| Q4 25 | 51.4% | 27.1% | ||
| Q3 25 | 54.2% | 27.5% | ||
| Q2 25 | 54.4% | 29.3% | ||
| Q1 25 | 53.8% | 28.1% | ||
| Q4 24 | 53.9% | 26.7% | ||
| Q3 24 | 56.0% | 26.2% | ||
| Q2 24 | 54.6% | 27.1% |
| Q1 26 | 4.0% | — | ||
| Q4 25 | 6.3% | 6.4% | ||
| Q3 25 | 80.6% | 11.4% | ||
| Q2 25 | 9.9% | 13.2% | ||
| Q1 25 | 7.3% | 7.3% | ||
| Q4 24 | 6.6% | 7.8% | ||
| Q3 24 | 13.2% | 11.6% | ||
| Q2 24 | 11.7% | 12.6% |
| Q1 26 | 0.6% | — | ||
| Q4 25 | 3.2% | 4.5% | ||
| Q3 25 | 60.4% | 7.8% | ||
| Q2 25 | 4.2% | 8.9% | ||
| Q1 25 | 6.6% | 5.2% | ||
| Q4 24 | 1.5% | 5.5% | ||
| Q3 24 | 5.9% | 7.9% | ||
| Q2 24 | 4.3% | 8.5% |
| Q1 26 | $0.07 | — | ||
| Q4 25 | $0.37 | $1.82 | ||
| Q3 25 | $7.22 | $3.98 | ||
| Q2 25 | $0.51 | $4.52 | ||
| Q1 25 | $0.78 | $1.93 | ||
| Q4 24 | $0.18 | $2.42 | ||
| Q3 24 | $0.70 | $4.22 | ||
| Q2 24 | $0.51 | $4.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $561.0M | $733.3M |
| Total DebtLower is stronger | $4.6B | $361.6M |
| Stockholders' EquityBook value | $5.0B | $2.8B |
| Total Assets | $14.1B | $4.4B |
| Debt / EquityLower = less leverage | 0.92× | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $561.0M | — | ||
| Q4 25 | $878.0M | $733.3M | ||
| Q3 25 | $1.6B | $524.3M | ||
| Q2 25 | $492.0M | $293.0M | ||
| Q1 25 | $534.0M | $431.8M | ||
| Q4 24 | $762.0M | $781.9M | ||
| Q3 24 | $772.0M | $550.0M | ||
| Q2 24 | $897.0M | $424.9M |
| Q1 26 | $4.6B | — | ||
| Q4 25 | $5.0B | $361.6M | ||
| Q3 25 | $5.1B | $340.8M | ||
| Q2 25 | $7.8B | $338.7M | ||
| Q1 25 | $7.9B | $346.4M | ||
| Q4 24 | $8.0B | $337.2M | ||
| Q3 24 | $8.1B | $321.0M | ||
| Q2 24 | $8.3B | $307.1M |
| Q1 26 | $5.0B | — | ||
| Q4 25 | $5.0B | $2.8B | ||
| Q3 25 | $5.0B | $2.8B | ||
| Q2 25 | $3.6B | $2.8B | ||
| Q1 25 | $3.3B | $2.7B | ||
| Q4 24 | $3.0B | $2.7B | ||
| Q3 24 | $3.2B | $2.7B | ||
| Q2 24 | $2.9B | $2.6B |
| Q1 26 | $14.1B | — | ||
| Q4 25 | $14.3B | $4.4B | ||
| Q3 25 | $14.0B | $4.6B | ||
| Q2 25 | $15.1B | $4.7B | ||
| Q1 25 | $14.5B | $4.5B | ||
| Q4 24 | $14.5B | $4.5B | ||
| Q3 24 | $14.7B | $4.5B | ||
| Q2 24 | $14.6B | $4.4B |
| Q1 26 | 0.92× | — | ||
| Q4 25 | 1.00× | 0.13× | ||
| Q3 25 | 1.03× | 0.12× | ||
| Q2 25 | 2.14× | 0.12× | ||
| Q1 25 | 2.43× | 0.13× | ||
| Q4 24 | 2.71× | 0.13× | ||
| Q3 24 | 2.54× | 0.12× | ||
| Q2 24 | 2.90× | 0.12× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $399.8M |
| Free Cash FlowOCF − Capex | $-273.0M | $388.5M |
| FCF MarginFCF / Revenue | -13.6% | 24.6% |
| Capex IntensityCapex / Revenue | — | 0.7% |
| Cash ConversionOCF / Net Profit | — | 5.57× |
| TTM Free Cash FlowTrailing 4 quarters | $-203.0M | $535.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $95.0M | $399.8M | ||
| Q3 25 | $76.0M | $354.9M | ||
| Q2 25 | $169.0M | $-7.4M | ||
| Q1 25 | $29.0M | $-177.6M | ||
| Q4 24 | $219.0M | $378.9M | ||
| Q3 24 | $169.0M | $232.8M | ||
| Q2 24 | $355.0M | $57.7M |
| Q1 26 | $-273.0M | — | ||
| Q4 25 | $32.0M | $388.5M | ||
| Q3 25 | $-21.0M | $346.1M | ||
| Q2 25 | $59.0M | $-14.3M | ||
| Q1 25 | $-80.0M | $-185.2M | ||
| Q4 24 | $92.0M | $370.9M | ||
| Q3 24 | $76.0M | $223.0M | ||
| Q2 24 | $297.0M | $51.3M |
| Q1 26 | -13.6% | — | ||
| Q4 25 | 1.6% | 24.6% | ||
| Q3 25 | -1.0% | 16.7% | ||
| Q2 25 | 2.7% | -0.7% | ||
| Q1 25 | -3.9% | -12.1% | ||
| Q4 24 | 4.4% | 21.1% | ||
| Q3 24 | 3.7% | 10.3% | ||
| Q2 24 | 14.3% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.2% | 0.7% | ||
| Q3 25 | 4.6% | 0.4% | ||
| Q2 25 | 5.1% | 0.3% | ||
| Q1 25 | 5.3% | 0.5% | ||
| Q4 24 | 6.1% | 0.5% | ||
| Q3 24 | 4.5% | 0.5% | ||
| Q2 24 | 2.8% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.51× | 5.57× | ||
| Q3 25 | 0.06× | 2.20× | ||
| Q2 25 | 1.88× | -0.04× | ||
| Q1 25 | 0.21× | -2.22× | ||
| Q4 24 | 7.06× | 3.91× | ||
| Q3 24 | 1.39× | 1.36× | ||
| Q2 24 | 3.99× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SOLV
| Infection Prevention and Surgical Solutions | $737.0M | 37% |
| Advanced Wound Care | $497.0M | 25% |
| Dental Solutions | $354.0M | 18% |
| Health Information Systems | $342.0M | 17% |
| All Other 4 | $76.0M | 4% |
WSO
Segment breakdown not available.
