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Friday 6 November 2026
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Solstice Advanced Materials Inc.
SOLS Basic Materials Specialty Chemicals
Solstice Advanced Materials Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.9 billion, up 3.08% from fiscal 2024.
- Revenue
- +7.95%
- EPS
- −11.1%
- Free cash flow
- +276.3%
- Total debt
- +1,805.6%
Quarter to September 2026, against a year earlier
55.59
2.11
−3.66%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | 3,649 | 3,770 | 3,886 | 4,172 | +3.2% | 4,169 | 4,409 | 4,653 | +6.2% | |
| Gross margin, % | — | — | — | — | — | — | — | 35.16 | 34.64 | 32.17 | 30.90 | (3.0) pt | ||||||
| EBT | — | — | — | — | — | — | — | 814 | 797 | 647 | 511 | (10.8%) | ||||||
| EBT margin, % | — | — | — | — | — | — | — | 22.31 | 21.14 | 16.65 | 12.25 | (5.7) pt | ||||||
| Net income | — | — | — | — | — | — | — | 619 | 605 | 285 | 381 | (32.1%) | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | — | 22.99 | 23.76 | 24.49 | 26.29 | +3.2% | |||||
| Earnings | — | — | — | — | — | — | — | 3.90 | 3.81 | 1.49 | 2.09 | (38.2%) | ||||||
| Cash flow | — | — | — | — | — | — | — | 4.79 | 5.31 | 2.87 | 5.41 | (22.6%) | ||||||
| Capex | — | — | — | — | — | — | — | (1.81) | (1.87) | (2.07) | (0.12) | +6.9% | ||||||
| Free cash flow | — | — | — | — | — | — | — | 2.97 | 3.44 | 0.79 | 5.29 | (48.3%) | ||||||
| Book value | — | — | — | — | — | — | — | 0.00 | 20.05 | 8.68 | 9.92 | n/m | ||||||
| Shares, m | — | — | — | — | — | — | — | 159 | 159 | 159 | 159 | 0.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | 33.17 | 33.17 | 33.17 | 26.54 | 33.2 | |||||
| P/S | — | — | — | — | — | — | — | 2.02 | 2.02 | 1.98 | 2.11 | 2.0 | ||||||
| P/B | — | — | — | — | — | — | — | 2.41 | 2.41 | 5.60 | 5.60 | 3.5 | ||||||
| EV/Sales | — | — | — | — | — | — | — | 1.94 | 1.94 | 2.38 | 2.44 | 2.1 | ||||||
| EV/FCF | — | — | — | — | — | — | — | 30.21 | 30.21 | 65.15 | 23.70 | 41.9 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | — | 760 | 842 | 455 | 859 | (22.6%) | |||||
| Capex | — | — | — | — | — | — | — | (288) | (296) | (329) | (19) | +6.9% | ||||||
| Free cash flow | — | — | — | — | — | — | — | 472 | 546 | 126 | 840 | (48.3%) | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | — | — | 778 | 675 | 741 | (13.2%) | |||||
| Net debt | — | — | — | — | — | — | — | — | (624) | 1,542 | 1,344 | n/m | ||||||
| Shareholders’ equity | — | — | — | — | — | — | — | — | 3,182 | 1,377 | 1,574 | (56.7%) | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | — | 0.00 | 23.74 | 4.44 | 5.74 | +4.4 pt | |||||
| ROIC | — | — | — | — | — | — | — | 0.00 | 19.67 | 13.17 | 13.13 | +13.2 pt | ||||||
| ROE | — | — | — | — | — | — | — | 0.00 | 0.00 | 10.40 | 13.67 | +10.4 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | — | 3,900 | 4,100 | — | +5.1% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | — | 0.00 | 0.97 | 0.95 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| Refrigerants & Applied Solutions | 2,789 | 71.77% |
|---|---|---|
| Electronic & Specialty Materials | 1,097 | 28.23% |
| Gross margin | 32.17% | |
| Operating margin | 15.83% | |
| Pre-tax margin | 16.65% |
Solstice Advanced Materials Inc. vs peers in Specialty Chemicals (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| ALB Albemarle Corporation | $11.6B | 22.6× | 9.9× | +18.75% (above 0%: growing) | n/m | +708.43% (above 0%: growing) | 19.36% | 9.54% | Compare |
| SSL Sasol Ltd. | $9.6B | 3.3× | 5.5× | −5.20% (below 0%: shrinking) | +20.86% (above 0%: growing) | +6,912.65% (above 0%: growing) | 31.35% | 0.00% | Compare |
| SOLS Solstice Advanced Materials Inc. | $8.8B | 26.5× | 20.5× | +7.95% (above 0%: growing) | −11.11% (below 0%: shrinking) | +276.34% (above 0%: growing) | 32.98% | 15.68% | |
| WLK Westlake Corporation | $8.5B | — (loss-making) | 36.7× | +5.04% (above 0%: growing) | n/m | +485.96% (above 0%: growing) | 12.81% | 1.44% | Compare |
| SQM Sociedad Quimica y Minera S.A. | $8.1B | 10.6× | 7.4× | +138.12% (above 0%: growing) | +381.25% (above 0%: growing) | −63.75% (below 0%: shrinking) | 51.05% | 48.62% | Compare |
| AXTA Axalta Coating Systems Ltd. | $7.8B | 23.3× | 18.8× | +1.79% (above 0%: growing) | −12.96% (below 0%: shrinking) | +2.30% (above 0%: growing) | 33.10% | 12.59% | Compare |
| EMN Eastman Chemical Company | $7.5B | 12.0× | 11.5× | +8.31% (above 0%: growing) | +266.44% (above 0%: growing) | −26.42% (below 0%: shrinking) | 22.31% | 12.79% | Compare |
| ESI Element Solutions Inc. | $7.5B | 36.4× | 30.7× | +51.70% (above 0%: growing) | +68.75% (above 0%: growing) | +53.88% (above 0%: growing) | 34.40% | 11.44% | Compare |
| NEU NewMarket Corporation | $6.4B | 14.0× | — (loss-making) | +3.79% (above 0%: growing) | +26.52% (above 0%: growing) | −73.94% (below 0%: shrinking) | 31.03% | 19.95% | Compare |
| Median of peers | $7.9B | 14.0× | 11.5× | +6.68% | +47.64% | +28.09% | 31.19% | 12.02% |
From the latest earnings call
- CEO David Sewell said Solstice is accelerating its Spokane electronic materials expansion in response to demand and expects output to increase in the second half.
- Sewell said the planned Element Solutions acquisition is subject to shareholder and regulatory approvals and other closing conditions, with completion expected in the first half of 2027.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
83.97%
Held by the ten largest
37.29%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 16.40m | 10.32% | −93.53k |
| BlackRock | 15.93m | 10.03% | +955.26k |
| State Street | 5.06m | 3.19% | +93.73k |
| T. Rowe Price | 4.54m | 2.86% | +2.20m |
| Two Sigma | 3.36m | 2.11% | +905.73k |
| Geode Capital Management | 3.29m | 2.07% | +870.37k |
| Goldman Sachs | 2.88m | 1.81% | +234.07k |
| Morgan Stanley | 2.83m | 1.78% | +274.73k |
| UBS | 2.72m | 1.71% | −550.10k |
| Castle Hook Partners LP | 2.23m | 1.40% | 0.00 |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 2 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 7.98m | 6.37m | 99.67 |
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Read the proxy statement
Solstice Advanced Materials Inc. (SOLS) Latest News
4 Nov
20 Oct
19 Oct
9 Oct
2 Oct
4 Sep
28 Aug
27 Aug
30 Jul
SOLS metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Shares outstanding
- Book value per share
Solstice Advanced Materials makes specialty materials and provides services used in cooling, energy, electronics, healthcare and other industries. David Sewell is its president and chief executive officer.
Its Refrigerants & Applied Solutions business sells refrigerants for air conditioners, vehicles and industrial cooling systems. It also makes blowing agents used to produce insulating foam, solvents and pharmaceutical packaging materials. Through a joint venture, it provides uranium conversion services to utilities operating nuclear power plants: the process produces uranium hexafluoride, which customers then purify for use in energy applications.