Solventum vs Veeva Systems
Solventum reported revenue of $8.3 billion in fiscal 2025, 2.6 times Veeva Systems' $3.2 billion in fiscal 2026. Solventum's revenue grew 0.9% in its latest year, and Veeva Systems' grew 16.3%. Solventum had an operating margin of 26.2%, against 28.7% at Veeva Systems. Free cash flow was −$10 million at Solventum and $1.4 billion at Veeva Systems. Their fiscal years end in different months (December 31 and January 31), so the periods don't line up exactly.
Side by side
| Solventum | Veeva Systems | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2026, Jan 31, 2026 |
| Revenue | $8.3B | $3.2B |
| Revenue growth | 0.9% | 16.3% |
| Revenue growth a year, last 5 years | — | 16.9% |
| Gross margin | 53.5% | 75.5% |
| Operating margin | 26.2% | 28.7% |
| Net margin | 18.7% | 28.4% |
| Free cash flow | −$10M | $1.4B |
| Free cash flow margin | −0.1% | 43.4% |
| Return on capital | 20.4% | — |
| Net debt to EBITDA | 1.6x | −6.9x |
| Dividends and buybacks | $0M | $170M |
| Change in diluted share count | 0.9% | 1.1% |
| Last close | $85.81 | $318.18 |
| P/E at the last close | 10.5× | 52.1× |
| Insider trades, last 12 months | bought $100,344, sold $0 | sold $16.8 million |
| Piotroski F-score | 5 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
SolventumVeeva Systems
Operating margin
Percent of revenue
SolventumVeeva Systems
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
SolventumVeeva Systems
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Solventum and Veeva Systems pages.