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MDT vs. SOLV: Medtronic vs. Solventum Stock Comparison

How do Medtronic (MDT) and Solventum (SOLV) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Medtronic (MDT) and Solventum (SOLV) both belong to the Health Care Equipment & Supplies industry, though MDT is classified under Health Care Equipment while SOLV falls under Health Care Supplies.

Medtronic (MDT) carries decades of public-market history since May 2, 1973, while Solventum (SOLV) listed on March 26, 2024 — long-window comparisons have far more historical data on the MDT side.

Company profile comparison for Medtronic (MDT) and Solventum (SOLV)
Profile ItemMDTSOLV
NameMedtronic plcSolventum Corporation
Country/RegionIrelandUnited States
GICS SectorHealth CareHealth Care
GICS Industry GroupHealth Care Equipment & ServicesHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & SuppliesHealth Care Equipment & Supplies
GICS Sub-IndustryHealth Care EquipmentHealth Care Supplies
Market Capitalization130.22 billion USD15.36 billion USD
CurrencyUSDUSD
ExchangeNYSENYSE
Listing DateMay 2, 1973March 26, 2024
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

MDT
SOLV
GSPC
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Medtronic (MDT) vs. Solventum (SOLV), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Medtronic (MDT) and Solventum (SOLV). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Medtronic (MDT) and Solventum (SOLV). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Medtronic (MDT) and Solventum (SOLV)
MetricMDTSOLV
Total Return (1Y)15.72%25.89%
Total Return (3Y, Annualized)17.58%--
Total Return (5Y, Annualized)-0.18%--

Risk Profile

Drawdown History

MDT
SOLV
GSPC
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Medtronic (MDT) vs. Solventum (SOLV), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Medtronic (MDT) and Solventum (SOLV). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Medtronic (MDT) and Solventum (SOLV)
MetricMDTSOLV
Volatility (1Y, Annualized)25.84%30.06%
Beta (5Y)0.530.62
Max Drawdown (5Y)-39.67%-39.98%
Avg. Volume (3M)16.48M1.05M

Risk-Adjusted Performance

Risk-Return Positioning

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MDT and SOLV are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Medtronic (MDT) and Solventum (SOLV)
MetricMDTSOLV
Sharpe Ratio (1Y)0.440.72
Sortino Ratio (1Y)0.711.08

Profitability

ROE (TTM)

Both Medtronic (MDT) at 10.65% and Solventum (SOLV) at 3.19% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

MDT

Health Care Equipment & Services industry group

10.65%

Max
47.61%
Q3
14.36%
MDT
10.65%
Median
5.45%
Q1
-10.67%
Min
-47.01%

SOLV

Health Care Equipment & Services industry group

3.19%

Max
47.61%
Q3
14.36%
Median
5.45%
SOLV
3.19%
Q1
-10.67%
Min
-47.01%
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Medtronic (MDT) vs. Solventum (SOLV): A comparison of their ROE against the Health Care Equipment & Services industry group benchmark.

Net Margin (TTM)

Medtronic (MDT) at 13.93% retains a top-quartile share of revenue as profit, ahead of Solventum (SOLV) at 1.91%, which keeps about the industry-typical share.

MDT

Health Care Equipment & Services industry group

13.93%

Max
29.35%
MDT
13.93%
Q3
9.33%
Median
2.18%
Q1
-6.29%
Min
-28.46%

SOLV

Health Care Equipment & Services industry group

1.91%

Max
29.35%
Q3
9.33%
Median
2.18%
SOLV
1.91%
Q1
-6.29%
Min
-28.46%
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Medtronic (MDT) vs. Solventum (SOLV): A comparison of their net margin against the Health Care Equipment & Services industry group benchmark.

Operating Margin (TTM)

Medtronic (MDT) at 19.33% operates in the top operating margin quartile, ahead of Solventum (SOLV) at 6.82%, which runs around its industry’s norm.

MDT

Health Care Equipment & Services industry group

19.33%

Max
35.43%
MDT
19.33%
Q3
14.14%
Median
6.81%
Q1
-0.28%
Min
-16.29%

SOLV

Health Care Equipment & Services industry group

6.82%

Max
35.43%
Q3
14.14%
SOLV
6.82%
Median
6.81%
Q1
-0.28%
Min
-16.29%
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Medtronic (MDT) vs. Solventum (SOLV): A comparison of their operating margin against the Health Care Equipment & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Medtronic (MDT) and Solventum (SOLV)
MetricMDTSOLV
ROE (TTM)10.65%3.19%
ROA (TTM)5.12%2.29%
Net Margin (TTM)13.93%1.91%
Operating Margin (TTM)19.33%6.82%
Gross Margin (TTM)65.27%55.13%

Growth

Revenue Growth

Medtronic (MDT) at 8.43% is around its peer norm for revenue growth, while Solventum (SOLV) at 0.86% drops into the bottom quartile, signaling weaker demand or pricing momentum.

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Medtronic (MDT) vs. Solventum (SOLV): A comparison of their Revenue Growth across different time periods.

EPS Growth

Solventum (SOLV) at 221.74% clears its industry range for EPS growth, a much stronger earnings trajectory than Medtronic (MDT) at 3.32%, which is closer to a typical peer reading.

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Medtronic (MDT) vs. Solventum (SOLV): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Medtronic (MDT) and Solventum (SOLV)
MetricMDTSOLV
Revenue Growth (YoY)8.43%0.86%
Revenue Growth (3Y CAGR)5.21%0.79%
EPS Growth (YoY)3.32%221.74%
EPS Growth (3Y CAGR)9.77%4.51%

Financial Strength

Current Ratio (MRQ)

Medtronic (MDT) at 2.07 keeps current ratio within its industry’s typical mid-range, while Solventum (SOLV) at 1.03 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for SOLV.

MDT

Health Care Equipment & Services industry group

2.07

Max
7.59
Q3
4.00
MDT
2.07
Median
1.98
Q1
1.37
Min
0.30

SOLV

Health Care Equipment & Services industry group

1.03

Max
7.59
Q3
4.00
Median
1.98
Q1
1.37
SOLV
1.03
Min
0.30
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Medtronic (MDT) vs. Solventum (SOLV): A comparison of their current ratio against the Health Care Equipment & Services industry group benchmark.

Debt / Equity (MRQ)

Medtronic (MDT) at 0.55 carries an industry-typical debt-to-equity mix, while Solventum (SOLV) at 1.10 uses more debt funding than most peers.

MDT

Health Care Equipment & Services industry group

0.55

Max
1.88
Q3
0.91
Median
0.58
MDT
0.55
Q1
0.16
Min
0.00

SOLV

Health Care Equipment & Services industry group

1.10

Max
1.88
SOLV
1.10
Q3
0.91
Median
0.58
Q1
0.16
Min
0.00
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Medtronic (MDT) vs. Solventum (SOLV): A comparison of their debt-to-equity ratio against the Health Care Equipment & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Medtronic (MDT) and Solventum (SOLV)
MetricMDTSOLV
Current Ratio (MRQ)2.071.03
Debt / Equity (MRQ)0.551.10
Net Debt / EBITDA1.864.66

Dividends

Dividend Yield (TTM)

Solventum (SOLV) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Medtronic (MDT) reports a yield of 2.72%, ranking against industry peers normally.

MDT

Health Care Equipment & Services industry group

2.72%

MDT
2.72%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%

SOLV

Health Care Equipment & Services industry group

0.00%

SOLV
0.00%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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Medtronic (MDT) vs. Solventum (SOLV): A comparison of their dividend yield against the Health Care Equipment & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Solventum (SOLV) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Medtronic (MDT) reports a payout of 70.02%, ranking against industry peers normally.

MDT

Health Care Equipment & Services industry group

70.02%

MDT
70.02%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%

SOLV

Health Care Equipment & Services industry group

0.00%

SOLV
0.00%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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Medtronic (MDT) vs. Solventum (SOLV): A comparison of their payout ratio against the Health Care Equipment & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Medtronic (MDT) and Solventum (SOLV)
MetricMDTSOLV
Dividend Yield (TTM)2.72%0.00%
Dividend Payout Ratio (TTM)70.02%0.00%

Valuation

P/E Ratio (TTM)

Medtronic (MDT) at 25.01 is near its industry’s usual P/E ratio, while Solventum (SOLV) at 101.55 sits above its peer range — an unusually expensive price for SOLV’s trailing earnings.

MDT

Health Care Equipment & Services industry group

25.01

Max
80.41
Q3
47.62
Median
29.93
MDT
25.01
Q1
21.19
Min
4.21

SOLV

Health Care Equipment & Services industry group

101.55

SOLV
101.55
Max
80.41
Q3
47.62
Median
29.93
Q1
21.19
Min
4.21
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Medtronic (MDT) vs. Solventum (SOLV): A comparison of their P/E ratio against the Health Care Equipment & Services industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Medtronic (MDT) at 3.47 and Solventum (SOLV) at 1.88 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

MDT

Health Care Equipment & Services industry group

3.47

Max
8.80
Q3
4.32
MDT
3.47
Median
2.13
Q1
1.10
Min
0.03

SOLV

Health Care Equipment & Services industry group

1.88

Max
8.80
Q3
4.32
Median
2.13
SOLV
1.88
Q1
1.10
Min
0.03
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Medtronic (MDT) vs. Solventum (SOLV): A comparison of their P/S ratio against the Health Care Equipment & Services industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Medtronic (MDT) at 2.59 and Solventum (SOLV) at 3.20 are valued close to their industries’ norm against book — neither stands out from peers.

MDT

Health Care Equipment & Services industry group

2.59

Max
11.68
Q3
6.12
Median
3.00
MDT
2.59
Q1
1.73
Min
-1.31

SOLV

Health Care Equipment & Services industry group

3.20

Max
11.68
Q3
6.12
SOLV
3.20
Median
3.00
Q1
1.73
Min
-1.31
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Medtronic (MDT) vs. Solventum (SOLV): A comparison of their P/B ratio against the Health Care Equipment & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Medtronic (MDT) and Solventum (SOLV)
MetricMDTSOLV
P/E Ratio (TTM)25.01101.55
P/S Ratio (TTM)3.471.88
P/B Ratio (MRQ)2.593.20
Free Cash Flow Yield (TTM)4.16%1.31%