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

Resmed brought in $5.7B of revenue in fiscal 2026, Solventum $8.3B in fiscal 2025. Revenue changed by +9.9% at Resmed and +0.9% at Solventum on the year before, so Resmed grew faster. Resmed kept 26.9% of its revenue as net profit, Solventum 18.7%. Free cash flow was $1.6B at Resmed and -$10M at Solventum.

Side by side, latest fiscal year

RMDSOLV
Fiscal year endedFY2026 (June 30, 2026)FY2025 (December 31, 2025)
Revenue$5.7B$8.3B
Revenue growth+9.9%+0.9%
Net income$1.5B$1.6B
Net margin26.9%18.7%
Free cash flow$1.6B-$10M
Free cash flow margin29.2%-0.1%
Earnings per share (diluted)$10.43$8.88
Cash$1.5B$878M
Debt$399.4M$5B
Price to earnings24.29.8
Market value$36.4B$14.9B
Dividend yield0.95%n/a
Rank by revenue in sector#61 of 751 · Health care#51 of 751 · Health care

Over the years

Revenue
RMD FY2019: $2.6BRMD FY2020: $3BRMD FY2021: $3.2BRMD FY2022: $3.6BRMD FY2023: $4.2BRMD FY2024: $4.7BRMD FY2025: $5.1BRMD FY2026: $5.7BSOLV FY2022: $8.1BSOLV FY2024: $8.2BSOLV FY2024: $8.3BSOLV FY2025: $8.3BFY19FY20FY21FY22FY23FY24FY25FY26
RMD $5.7BSOLV $8.3B
Net income
RMD FY2019: $404.6MRMD FY2020: $621.7MRMD FY2021: $474.5MRMD FY2022: $779.4MRMD FY2023: $897.6MRMD FY2024: $1BRMD FY2025: $1.4BRMD FY2026: $1.5BSOLV FY2022: $1.3BSOLV FY2024: $1.3BSOLV FY2024: $479MSOLV FY2025: $1.6BFY19FY20FY21FY22FY23FY24FY25FY26
RMD $1.5BSOLV $1.6B
Net margin
RMD FY2019: 15.5%RMD FY2020: 21.0%RMD FY2021: 14.8%RMD FY2022: 21.8%RMD FY2023: 21.3%RMD FY2024: 21.8%RMD FY2025: 27.2%RMD FY2026: 26.9%SOLV FY2022: 16.5%SOLV FY2024: 16.4%SOLV FY2024: 5.8%SOLV FY2025: 18.7%FY19FY20FY21FY22FY23FY24FY25FY26
RMD 26.9%SOLV 18.7%
Revenue growth
RMD FY2020: +13.4%RMD FY2021: +8.1%RMD FY2022: +11.9%RMD FY2023: +18.0%RMD FY2024: +10.9%RMD FY2025: +9.8%RMD FY2026: +9.9%SOLV FY2024: +0.8%SOLV FY2024: +0.7%SOLV FY2025: +0.9%FY20FY21FY22FY23FY24FY25FY26
RMD +9.9%SOLV +0.9%
Free cash flow
RMD FY2019: $390.3MRMD FY2020: $706.9MRMD FY2021: $634MRMD FY2022: $216.3MRMD FY2023: $573.6MRMD FY2024: $1.3BRMD FY2025: $1.7BRMD FY2026: $1.6BSOLV FY2022: $1.4BSOLV FY2024: $1.6BSOLV FY2024: $805MSOLV FY2025: -$10MFY19FY20FY21FY22FY23FY24FY25FY26
RMD $1.6BSOLV -$10M

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

Questions about Resmed and Solventum

Which is bigger by revenue, Resmed or Solventum?

Solventum is bigger by revenue: $8.3B in fiscal 2025, against $5.7B for Resmed in fiscal 2026.

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

Resmed had a net margin of 26.9% in fiscal 2026; Solventum had 18.7% in fiscal 2025.

Which grew revenue faster, Resmed or Solventum?

In their latest fiscal years revenue changed by +9.9% at Resmed and +0.9% at Solventum.

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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