Solventum (SOLV) vs. Waters Corporation (WAT)
This page compares Solventum (SOLV) with Waters Corporation (WAT) using historical performance, profitability, financial strength, growth, dividend, and valuation metrics.
Company Profile
Solventum (SOLV) and Waters Corporation (WAT) share the Health Care sector but sit in different industry groups — SOLV in Health Care Equipment & Services and WAT in Pharmaceuticals, Biotechnology & Life Sciences.
Waters Corporation (WAT) carries decades of public-market history since November 17, 1995, while Solventum (SOLV) listed on March 26, 2024 — long-window comparisons have far more historical data on the WAT side.
| Symbol | SOLV | WAT |
|---|---|---|
| Company Name | Solventum Corporation | Waters Corporation |
| Country/Region | United States | United States |
| GICS Sector | Health Care | Health Care |
| GICS Industry Group | Health Care Equipment & Services | Pharmaceuticals, Biotechnology & Life Sciences |
| GICS Industry | Health Care Equipment & Supplies | Life Sciences Tools & Services |
| GICS Sub-Industry | Health Care Supplies | Life Sciences Tools & Services |
| Market Capitalization | 13.29 billion USD | 33.48 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | NYSE |
| Listing Date | March 26, 2024 | November 17, 1995 |
| Security Type | Common Stock | Common Stock |
Historical Performance
Historical Performance at a Glance
| Symbol | SOLV | WAT |
|---|---|---|
| 5-Day Price Return | 3.35% | 3.58% |
| 13-Week Price Return | 4.27% | 3.75% |
| 26-Week Price Return | 2.03% | -10.10% |
| 52-Week Price Return | 5.48% | -1.83% |
| Month-to-Date Return | 13.94% | 10.27% |
| Year-to-Date Return | -3.14% | -10.23% |
| 10-Day Avg. Volume | 1.73M | 1.05M |
| 3-Month Avg. Volume | 1.32M | 1.12M |
| 3-Month Volatility | 28.15% | 43.76% |
| Beta | 1.20 | 1.16 |
Profitability
Return on Equity (TTM)
Solventum (SOLV) at 30.71% ranks in the top quartile for Return on Equity (TTM), ahead of Waters Corporation (WAT) at 8.04%, which sits closer to the industry mid-range.
SOLV
Health Care Equipment & Services industry group
30.71%
- Max
- 46.60%
- Q3
- 16.64%
- Median
- 9.08%
- Q1
- -6.70%
- Min
- -41.21%
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
8.04%
- Max
- 101.31%
- Q3
- 9.45%
- Median
- -24.29%
- Q1
- -57.59%
- Min
- -152.10%
Net Profit Margin (TTM)
Solventum (SOLV) at 17.33% ranks in the top quartile for Net Profit Margin (TTM), ahead of Waters Corporation (WAT) at 11.91%, which sits closer to the industry mid-range.
SOLV
Health Care Equipment & Services industry group
17.33%
- Max
- 28.44%
- Q3
- 10.12%
- Median
- 3.71%
- Q1
- -3.46%
- Min
- -23.04%
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
11.91%
- Max
- 90.67%
- Q3
- 13.59%
- Median
- -9.02%
- Q1
- -156.67%
- Min
- -407.00%
Operating Profit Margin (TTM)
Solventum (SOLV) at 24.53% ranks in the top quartile for Operating Profit Margin (TTM), ahead of Waters Corporation (WAT) at 16.01%, which sits closer to the industry mid-range.
SOLV
Health Care Equipment & Services industry group
24.53%
- Max
- 37.44%
- Q3
- 14.78%
- Median
- 7.82%
- Q1
- -1.32%
- Min
- -18.53%
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
16.01%
- Max
- 65.08%
- Q3
- 16.47%
- Median
- -9.50%
- Q1
- -194.89%
- Min
- -449.94%
Profitability at a Glance
| Symbol | SOLV | WAT |
|---|---|---|
| Return on Equity (TTM) | 30.71% | 8.04% |
| Return on Assets (TTM) | 9.97% | 4.59% |
| Net Profit Margin (TTM) | 17.33% | 11.91% |
| Operating Profit Margin (TTM) | 24.53% | 16.01% |
| Gross Profit Margin (TTM) | 53.66% | 57.96% |
Financial Strength
Current Ratio (MRQ)
Both Solventum (SOLV) at 1.07 and Waters Corporation (WAT) at 1.73 run Current Ratio (MRQ) in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.
SOLV
Health Care Equipment & Services industry group
1.07
- Max
- 5.20
- Q3
- 2.91
- Median
- 1.76
- Q1
- 1.33
- Min
- 0.01
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
1.73
- Max
- 19.59
- Q3
- 9.51
- Median
- 4.07
- Q1
- 2.07
- Min
- 0.67
Debt-to-Equity Ratio (MRQ)
Waters Corporation (WAT) at 0.34 carries Debt-to-Equity Ratio (MRQ) around its industry mid-range, while Solventum (SOLV) at 1.06 sits in the higher-leverage quartile.
SOLV
Health Care Equipment & Services industry group
1.06
- Max
- 2.20
- Q3
- 1.06
- Median
- 0.63
- Q1
- 0.24
- Min
- 0.00
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
0.34
- Max
- 2.26
- Q3
- 1.00
- Median
- 0.19
- Q1
- 0.00
- Min
- 0.00
Interest Coverage Ratio (TTM)
Waters Corporation (WAT) at 16.45 ranks in the top quartile for Interest Coverage Ratio (TTM), ahead of Solventum (SOLV) at 5.94, which sits around the industry mid-range.
SOLV
Health Care Equipment & Services industry group
5.94
- Max
- 26.11
- Q3
- 10.11
- Median
- 4.00
- Q1
- -0.92
- Min
- -15.06
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
16.45
- Max
- 72.37
- Q3
- 4.99
- Median
- -4.89
- Q1
- -43.93
- Min
- -104.22
Financial Strength at a Glance
| Symbol | SOLV | WAT |
|---|---|---|
| Current Ratio (MRQ) | 1.07 | 1.73 |
| Quick Ratio (MRQ) | 0.71 | 1.27 |
| Debt-to-Equity Ratio (MRQ) | 1.06 | 0.34 |
| Interest Coverage Ratio (TTM) | 5.94 | 16.45 |
Growth
Revenue Growth
Revenue Growth at a Glance
| Symbol | SOLV | WAT |
|---|---|---|
| Revenue Growth (MRQ vs Prior YoY) | -3.04% | 91.48% |
| Revenue Growth (TTM vs Prior YoY) | -0.55% | 26.39% |
| 3-Year Revenue CAGR | 0.79% | 2.12% |
| 5-Year Revenue CAGR | -- | 6.00% |
EPS Growth
EPS Growth at a Glance
| Symbol | SOLV | WAT |
|---|---|---|
| EPS Growth (MRQ vs Prior YoY) | -90.55% | -- |
| EPS Growth (TTM vs Prior YoY) | 276.18% | -28.75% |
| 3-Year EPS CAGR | 4.46% | -2.83% |
| 5-Year EPS CAGR | -- | 5.19% |
Dividend
Dividend Yield (TTM)
Neither Solventum (SOLV) nor Waters Corporation (WAT) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.
SOLV
Health Care Equipment & Services industry group
0.00%
- Max
- 1.78%
- Q3
- 0.75%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Neither Solventum (SOLV) nor Waters Corporation (WAT) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.
SOLV
Health Care Equipment & Services industry group
0.00%
- Max
- 28.97%
- Q3
- 12.35%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend at a Glance
| Symbol | SOLV | WAT |
|---|---|---|
| Dividend Yield (TTM) | 0.00% | 0.00% |
| Dividend Payout Ratio (TTM) | 0.00% | 0.00% |
Valuation
Price-to-Earnings Ratio (TTM)
Solventum (SOLV) at 9.28 trades in the lower-multiple quartile for Price-to-Earnings Ratio (TTM), while Waters Corporation (WAT) at 72.84 sits above its industry benchmark range — a wide gap in trailing earnings multiples relative to peers.
SOLV
Health Care Equipment & Services industry group
9.28
- Max
- 56.80
- Q3
- 40.24
- Median
- 28.07
- Q1
- 19.73
- Min
- 0.84
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
72.84
- Max
- 68.36
- Q3
- 38.86
- Median
- 25.36
- Q1
- 17.81
- Min
- 4.59
Price-to-Sales Ratio (TTM)
Both Solventum (SOLV) at 1.61 and Waters Corporation (WAT) at 8.68 post Price-to-Sales Ratio (TTM) near the typical industry midpoint — neither company stands out strongly from peers on trailing revenue multiple.
SOLV
Health Care Equipment & Services industry group
1.61
- Max
- 7.57
- Q3
- 3.68
- Median
- 1.79
- Q1
- 0.87
- Min
- 0.03
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
8.68
- Max
- 45.85
- Q3
- 22.84
- Median
- 6.16
- Q1
- 3.49
- Min
- 0.19
Price-to-Book Ratio (MRQ)
Waters Corporation (WAT) at 1.95 trades in the lower-multiple quartile for Price-to-Book Ratio (MRQ), while Solventum (SOLV) at 2.28 sits around the industry midpoint — WAT has a lower book-value multiple relative to peers, though the gap should be read alongside ROE and asset quality.
SOLV
Health Care Equipment & Services industry group
2.28
- Max
- 13.66
- Q3
- 6.49
- Median
- 3.09
- Q1
- 1.67
- Min
- 0.45
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
1.95
- Max
- 19.86
- Q3
- 9.76
- Median
- 4.52
- Q1
- 2.54
- Min
- 0.54
Valuation at a Glance
| Symbol | SOLV | WAT |
|---|---|---|
| Price-to-Earnings Ratio (TTM) | 9.28 | 72.84 |
| Price-to-Sales Ratio (TTM) | 1.61 | 8.68 |
| Price-to-Book Ratio (MRQ) | 2.28 | 1.95 |
| Price-to-Free Cash Flow Ratio (TTM) | 141.40 | 60.62 |