$SOLS Solstice Advanced Materials Inc

What Do They Do?

Makes refrigerants and insulation materials, plus electronic and specialty materials, for industrial, electronics and healthcare markets.

How Do They Make Money?

Product sales make up most revenue; customers generally pay within a year after receiving products or conversion services. Nuclear conversion customers buy conversion work, delivered when converted uranium is provided under contract.

revenue

Segment	Share	Revenue	How money arrives
Products Sold outright	92%		Sold outright
Services Sold outright	7.7%		Sold outright

Who Are Their Customers?

Equipment makers and construction businesses buy refrigerants and insulation materials directly or through wholesalers and distributors; utilities buy conversion services, and medical and pharmaceutical packaging producers buy healthcare materials.

Do Revenues Turn Into Profits?

Yes. It kept 6 cents of every revenue dollar as net income in FY2025 and turned 3 cents into free cash flow.

Operating income, FY2025

19% of revenue

▼ −12% vs FY2024 ($831M, 22%)

Net income, FY2025

6% of revenue

▼ −60% vs FY2024 ($594M, 16%)

Free cash flow, FY2025

3% of revenue

▼ −78% vs FY2024 ($546M, 14%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +11%; vs $1B in Q2 FY2025
Net income: ▲ +23%; vs $97M in Q2 FY2025

Products share of revenue vs 91.5% in Q2 FY2025

Aug 27, 2026 Terminated the proposed Element Solutions acquisition Solstice and Element Solutions ended the deal by mutual agreement; neither party owes the other a termination payment.
Jul 30, 2026 Raised full-year 2026 guidance

Revenue over time

Products Services

$5B$2.5B$0

FY2023 FY2024 FY2025