NASDAQ NMS - GLOBAL MARKET · Chemicals · CIK 0002064953
$64.99
+3.06% · delayed ~15 min
Last price from Oct 21, 2026
$10.32B market value
From Solstice Advanced Materials Inc.'s FY2025 10-K, filed Feb 19, 2026 · read the filing
Solstice Advanced Materials makes industrial chemicals. It took in $3.89B last year, which makes it a mid-sized company. Of every dollar it sells, about 6 cents is left as profit.
The financial picture is led by accounting, with profitability, growth and debt worth watching.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Financial health
Generally healthy, with a few things to watch.
From Solstice Advanced Materials Inc.'s FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Profit
$594.0M → $237.0M
Profit margin
15.8% → 6.1%
Free cash flow
$546.0M → $119.0M
Earnings per share
$3.74 → $1.49
Measured against FY2024, from the 10-K filed Feb 19, 2026
Deteriorated: -60.1%
$594.0M to $237.0MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
How the latest move compares (quote delayed ~15 min), and what was published around it
SOLS rose 3.06% on the latest quote. The average Materials company tracked here moved −1.23%, and the S&P 500 −1.04%. That is 4.3 points above its sector and 4.1 points above the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
Opinions from 14 analysts covering this company, as of . Their views, not this site's.
Of 14 analysts publishing on this company, 3 say strong buy, 9 say buy and 2 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 6 cents of every dollar of sales as profit, earning $237.0M last year.
Slowly. Sales grew 3.1% last year.
Manageable, but notable. Clearing its debt would take about 3.2 years of cash flow. For every $1 it owes, it owns $1.32 in assets.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It paid out more than it earned — 633 cents for every dollar of profit. A payment above earnings has to be funded from somewhere else, so it is worth checking whether that can continue. It paid out 330% of the cash its operations generated.
WeakFigures from the FY2025 annual filing
Last year it earned $237.0M and generated $455.0M of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Feb 19, 2026Filing for FY2025 | FY202410-K · Feb 19, 2026Filing for FY2024 | FY202310-K · Feb 19, 2026Filing for FY2023 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|
| RevenueWhat is this? | $3.89B | $3.77B | $3.65B | +3.1% |
| Cost of revenue | $2.64B | $2.46B | $2.37B | +7.0% |
| Gross profit | $1.25B† | $1.31B† | $1.28B† | −4.3% |
| Gross marginGross profit ÷ revenueWhat is this? | 32.2% | 34.6% | 35.2% | −2.5 pts |
| Selling, general and administrative | $421.0M | $392.0M | $378.0M | +7.4% |
| Interest expense | $28.0M | $13.0M | $16.0M | +115.4% |
| Income before tax | $647.0M | $797.0M | $814.0M | −18.8% |
| Net income | $237.0M | $594.0M | $621.0M | −60.1% |
| Net marginNet income ÷ revenueWhat is this? | 6.1% | 15.8% | 17.0% | −9.7 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $1.49 | $3.74 | $3.91 | −60.1% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Nothing recent
No insider trades, pending-sale notices or 5% stake filings from SOLS in the last few months. That is the ordinary case, not a gap.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Signed a material agreement · Terminated a material agreement · Made a Regulation FD disclosure · Reported another event
Read the filingQuarterly report for Q2 FY2026
Revenue +11.1% · Profit +22.7% · Earnings per share +22.6% — against Q2 FY2026
Read the filingWrite down why you are following Solstice Advanced Materials Inc., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
The 57 subsidiaries named in its 10-K, incorporated across 32 places. A filer lists the significant ones and may leave the rest out, so this is the floor rather than the full count.
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from SOLS's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Feb 19, 2026), reported under the US GAAP taxonomy. View the source filing.
4 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. All four had enough reported figures. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 9 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 7.0 | 4/9 | 10-K, filed Feb 19, 2026 |
| FY2024 | 8.7 | 4/5 | 10-K, filed Feb 19, 2026 |
| FY2023 | 10.0 | 2/2 | 10-K, filed Feb 19, 2026 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
4 of 9 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's.
2.67
In the grey zone
For this model, above 2.99 is safe and below 1.81 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
-3.15
Below the threshold — nothing unusual flagged
Scores above -1.78 are the ones the model associates with earnings manipulation.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Deteriorated: −9.7 pts
15.8% to 6.1%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: -78.2%
$546.0M to $119.0MCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Deteriorated: -60.1%
$3.74 to $1.49Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: turned positive
$0.00 to $1.97BCritical
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Changed: turned positive
$0.00 to $1.50BCritical
Why it matters: Cash handed to shareholders. A rise can be a higher dividend or simply more shares, and a cut is a decision the company explains in its own filing — neither is rated here.
Deteriorated: -19.2%
$661.0M to $534.0MSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Deteriorated: −2.5 pts
34.6% to 32.2%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Changed: +13.5%
$296.0M to $336.0MNotable
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Q2 FY2026 against Q2 FY2026, from the 10-Q filed Jul 30, 2026 — read it.
Improved: +22.7%
$97.0M to $119.0MSignificant
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +22.6%
$0.61 to $0.75Significant
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +11.1%
$1.03B to $1.15BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Deteriorated: −2.8 pts
35.0% to 32.2%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Deteriorated: -14.1%
$873.0M to $750.0MNotable
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Q2 FY2026 against Q1 FY2026, from the 10-Q filed Jul 30, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Improved: +40.0%
$85.0M to $119.0MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +15.8%
$991.0M to $1.15BSignificant
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +17.1%
$316.0M to $370.0MSignificant
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: +40.0%
$0.54 to $0.75Significant
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +16.8%
$642.0M to $750.0MSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +1.8 pts
8.6% to 10.4%Notable
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
3 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 3.2% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 38.8x — a high multiple relative to the current trailing profit.
Nothing unusual. Its accounting patterns look like those of companies that report earnings straightforwardly.
Published results
Signed a material agreement
Read the filingMade a Regulation FD disclosure
Read the filingReported another event
Read the filingAttached financial statements or exhibits
Read the filingSigned a material agreement · Reported another event
Read the filingMade a Regulation FD disclosure
Read the filingHeld a shareholder vote
Read the filingQuarterly report for Q1 FY2026
Revenue +10.5% · Profit margin −6.4 pts · Dividends paid turned positive — against Q1 FY2026
Read the filingPublished results
Read the filingReported another event
Read the filingProxy statement for a shareholder meeting
Read the filingHad a director or senior officer leave or join
Read the filingReceived shareholder director nominations · Reported another event
Read the filingAnnual report for FY2025
Profit margin −9.7 pts · Profit -60.1% · Free cash flow -78.2% — against FY2024
Read the filingPublished results · Reported another event
Read the filingQuarterly report for Q3 FY2025
Revenue +6.8% · Profit margin −20.4 pts · Profit turned negative — against Q3 FY2025
Read the filingPublished results
Read the filingThe first 40 of 57. The rest are in the exhibit.
Source: Exhibit 21 of the 10-K filed 2026-02-19. These are legal entities, not brands or acquisitions — a company that bought a business may hold it inside an entity named here, or inside one small enough that the rule does not require naming it at all.
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Primary sources and further research