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Medline vs Solventum: revenue, profit, margins and growth compared

Medline brought in $28.4B of revenue in fiscal 2025, Solventum $8.3B in fiscal 2025. Medline kept 4.1% of its revenue as net profit, Solventum 18.7%. Free cash flow was $1.3B at Medline and -$10M at Solventum.

Side by side, latest fiscal year

MDLNSOLV
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$28.4B$8.3B
Revenue growthn/a+0.9%
Net income$1.2B$1.6B
Net margin4.1%18.7%
Free cash flow$1.3B-$10M
Free cash flow margin4.6%-0.1%
Earnings per share (diluted)-$0.01$8.88
Cash$1.9B$878M
Debt$12.6B$5B
Price to earningsn/a10.1
Market value$45.6B$15.2B
Dividend yieldn/an/a
Rank by revenue in sector#23 of 523 · Health care#49 of 523 · Health care

Over the years

Revenue
MDLN FY2023: $23.2BMDLN FY2025: $25.5BMDLN FY2025: $28.4BSOLV FY2022: $8.1BSOLV FY2024: $8.2BSOLV FY2024: $8.3BSOLV FY2025: $8.3BFY22FY23FY24FY25
MDLN $28.4BSOLV $8.3B
Net income
MDLN FY2023: $234MMDLN FY2025: $1.2BMDLN FY2025: $1.2BMDLN FY2025: $1.2BSOLV FY2022: $1.3BSOLV FY2024: $1.3BSOLV FY2024: $479MSOLV FY2025: $1.6BFY22FY23FY24FY25
MDLN $1.2BSOLV $1.6B
Net margin
MDLN FY2023: 1.0%MDLN FY2025: 4.6%MDLN FY2025: 4.1%SOLV FY2022: 16.5%SOLV FY2024: 16.4%SOLV FY2024: 5.8%SOLV FY2025: 18.7%FY22FY23FY24FY25
MDLN 4.1%SOLV 18.7%
Revenue growth
MDLN FY2025: +9.8%SOLV FY2024: +0.8%SOLV FY2024: +0.7%SOLV FY2025: +0.9%FY24FY25
MDLN +9.8%SOLV +0.9%
Free cash flow
MDLN FY2023: $1.4BMDLN FY2025: $1.4BMDLN FY2025: $1.3BSOLV FY2022: $1.4BSOLV FY2024: $1.6BSOLV FY2024: $805MSOLV FY2025: -$10MFY22FY23FY24FY25
MDLN $1.3BSOLV -$10M

Fiscal years as each company reports them; the two may end in different months.

Questions about Medline and Solventum

Which is bigger by revenue, Medline or Solventum?

Medline is bigger by revenue: $28.4B in fiscal 2025, against $8.3B for Solventum in fiscal 2025.

Which keeps more of its revenue as profit, Medline or Solventum?

Medline had a net margin of 4.1% in fiscal 2025; Solventum had 18.7% in fiscal 2025.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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