Solstice Advanced Materials Inc. SOLS
Solstice Advanced Materials Inc. ("Solstice," "Solstice Advanced Materials," "we," "us," "our," or the "Company") is a global, differentiated advanced materials company and a leading global provider of refrigerants, blowing agents, conversion services for the nuclear energy sector, semiconductor materials, protective fibers and healthcare packaging. We operate through two segments, reported as Refrigerants & Applied Solutions ("RAS") and Electronic & Specialty Materials ("ESM"). Our business is recognized as an industry innovator as well as a technology and quality leader, supported by some of the industry's most well-known brands.
Our RAS segment is a leading manufacturer of low global warming potential ("LGWP") refrigerants, blowing agents, solvents, and aerosol materials, as well as conversion services for the nuclear energy sector. RAS serves the end markets of cooling, air conditioning and refrigeration ("HVAC/R"), automotive, nuclear energy, building and appliance insulation, and healthcare. RAS products include, among others, LGWP refrigerants, blowing agents, aerosol propellants, cleaning solvents, high-barrier pharmaceutical packaging materials and conversion services for nuclear energy providers. Our products are distributed and sold through well-known brands like Solstice, Genetron, and Aclar. Our ESM segment is a leading provider of electronic materials, high-strength fibers and laboratory life science chemicals. ESM primarily serves the semiconductor, defense, pharmaceutical and construction end markets. ESM products include, among others, sputtering targets, lightweight high-strength fibers and high-purity life science solutions. Our products are distributed and sold through well-known brands like Spectra, Fluka, and Hydranal.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $3.89B | $3.77B | $3.65B | — |
| Cost of revenue | $2.64B | $2.46B | $2.37B | — |
| Gross profit | $1.25B | $1.31B | $1.28B | — |
| R&D | $97.0M | $83.0M | $81.0M | — |
| SG&A | $421.0M | $392.0M | $378.0M | — |
| Interest expense | $28.0M | $13.0M | $16.0M | — |
| Pre-tax income | $647.0M | $797.0M | $814.0M | — |
| Income tax | $362.0M | $192.0M | $195.0M | — |
| Net income | $237.0M | $594.0M | $621.0M | — |
| EPS, basic | 1.49 | 3.74 | 3.91 | — |
| EPS, diluted | 1.49 | 3.74 | 3.91 | — |
| Shares, diluted (wtd. avg.) | $158.9M | $158.7M | $158.7M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $534.0M | $661.0M | $606.0M | $549.0M |
| Receivables | $645.0M | $569.0M | — | — |
| Inventory | $715.0M | $558.0M | — | — |
| Total current assets | $2.39B | $1.86B | — | — |
| Property, plant and equipment | $2.06B | $1.75B | — | — |
| Goodwill | $820.0M | $806.0M | $814.0M | — |
| Other intangibles | $49.0M | $35.0M | — | — |
| Total assets | $5.67B | $5.00B | — | — |
| Accounts payable | $909.0M | $778.0M | — | — |
| Short-term debt | $4.0M | $0 | — | — |
| Total current liabilities | $1.71B | $1.08B | — | — |
| Long-term debt | $1.97B | $0 | — | — |
| Total liabilities | $4.30B | $1.82B | — | — |
| Retained earnings | $41.0M | $0 | — | — |
| Total equity | $1.41B | $3.26B | $3.03B | $2.72B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | $455.0M | $842.0M | $760.0M | — |
| Depreciation and amortisation | $24.0M | $39.0M | $48.0M | — |
| Stock-based compensation | $27.0M | $17.0M | $18.0M | — |
| Capital expenditure | $336.0M | $296.0M | $299.0M | — |
| Investing cash flow | -$330.0M | -$298.0M | -$324.0M | — |
| Financing cash flow | -$235.0M | -$453.0M | -$378.0M | — |
| Dividends paid | $1.50B | $0 | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0002064953-26-000008.
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