SOLS on Nasdaq

Solstice Advanced Materials Inc.

American chemicals and allied products company, incorporated in Delaware1

In its 2026 annual report the company says: “Solstice Advanced Materials Inc. 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 and Electronic & Specialty Materials. 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.”4 It is headquartered in Morris Plains, New Jersey.1

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Last updated Oct 21, 2026.

Overview

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  • TickerSOLS on Nasdaq1
  • IndustryChemicals & Allied Products1
  • HeadquartersMorris Plains, New Jersey1
  • Incorporated inDE2
  • Business address115 Tabor Road, Morris Plains, Nj 079502
  • Filer categoryNon-accelerated filer2

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.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

6.1%Net margin5
3.1%Revenue growth, 20255
16.8%Return on equity5
1.39×Debt to equity5
$119.0MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product brought in 92% of the revenue Solstice Advanced Materials Inc. broke down this way in fiscal 2025.

  1. Product$3.6B592%up 4% from 2024
  2. Service$299.0M58%down 6% from 2024
Products and services by year
Products and services202320242025
Product$3.4B$3.5B$3.6B
Service$225.0M$317.0M$299.0M

Business segments

Refrigerants & Applied Solutions brought in 72% of the revenue Solstice Advanced Materials Inc. broke down this way in fiscal 2025.

  1. Refrigerants & Applied Solutions$2.8B572%up 2% from 2024
  2. Electronic & Specialty Materials$1.1B528%up 5% from 2024
Business segments by year
Business segments202320242025
Refrigerants & Applied Solutions$2.6B$2.7B$2.8B
Electronic & Specialty Materials$1.0B$1.0B$1.1B

Regions

United States brought in 57% of the revenue Solstice Advanced Materials Inc. broke down this way in fiscal 2025.

  1. United States$2.2B557%down 2% from 2024
  2. EMEA$922.0M524%up 4% from 2024
  3. Other International$730.0M519%up 22% from 2024
Regions by year
Regions202320242025
United States$2.2B$2.3B$2.2B
EMEA$859.0M$886.0M$922.0M
Other International$585.0M$599.0M$730.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue68¢$2.6B
  • Research and development2¢$97.0M
  • Selling, general and admin11¢$421.0M
  • Other costs3¢$133.0M
  • Income tax9¢$362.0M
  • Profit6¢$237.0M

Out of $3.9B in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Capital spending18¢$336.0M
  • Dividends paid82¢$1.5B

Out of $455.0M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.5

Financial statements

Revenue5$3.9B in 2025+6% since 2023
0$1.0B$2.0B$3.0B$4.0B2023: $3.6B$3.6B20232024: $3.8B$3.8B2024+3%2025: $3.9B$3.9B2025+3%
Net income5$237.0M in 2025−62% since 2023
0$200.0M$400.0M$600.0M$800.0M2023: $621.0M$621.0M20232024: $594.0M$594.0M2024−4%2025: $237.0M$237.0M2025−60%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Net sales$3.9B$3.8B$3.6B
Research and development expenses$97.0M$83.0M$81.0M
Selling, general and administrative expenses$421.0M$392.0M$378.0M
Transaction-related costs$117.0M$26.0M$1.0M
Other expense (income)-$60.0M-$5.0M-$7.0M
Interest and other financial charges$28.0M$13.0M$16.0M
Total costs, expenses and other$3.2B$3.0B$2.8B
Income before taxes$647.0M$797.0M$814.0M
Income tax expense$362.0M$192.0M$195.0M
Net income$285.0M$605.0M$619.0M
Less: Net income (loss) attributable to noncontrolling interest$48.0M$11.0M-$2.0M
Net income attributable to Solstice Advanced Materials$237.0M$594.0M$621.0M
Basic earnings per share (in usd per share)$1.49$3.74$3.91
Diluted earnings per share (in usd per share)$1.49$3.74$3.91
Weighted average number of common shares outstanding - basic (in shares)158.7M shares158.7M shares158.7M shares
Weighted average number of common shares outstanding - diluted (in shares)158.9M shares158.7M shares158.7M shares
Total cost of products and services sold$2.6B$2.5B$2.4B

Compare Solstice Advanced Materials Inc. with another company

Corporate structure

Solstice Advanced Materials Inc. sits at the top of its group. 58 entities, 30 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Solstice Advanced Materials Inc.

  • BlackRock Filed SCHEDULE 13G/A on Solstice Advanced Materials Inc., latest Jul 30, 2026 (3 filings since Jan 8, 2026)
  • VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Solstice Advanced Materials Inc., latest Apr 30, 2026
  • VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on Solstice Advanced Materials Inc., latest Apr 29, 2026
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Solstice Advanced Materials Inc., latest Mar 27, 2026 (3 filings since Nov 5, 2025)
  • Solstice Advanced Materials Inc. Morris Plains, New Jersey
    • Advanced Materials Arabia Subsidiary · Saudi Arabia
    • Advanced Materials RO S.R.L. Subsidiary · Romania
    • AdvInnov Materials India Private Limited Subsidiary · India
    • Allied Chemical Nuclear Products, Inc. Subsidiary · Delaware, United States
    • AM Mexico Athens, S. de R.L. de C.V. Subsidiary · Mexico
    • Amherstburg Land Holdings Limited Subsidiary · Canada
    • Asahi-Schwebel (Taiwan) Co., Ltd. Subsidiary · Taiwan
    • Athens AM GmbH Subsidiary · Austria
    • Athens AM Holding Limited Subsidiary · Ireland
    • Athens Canada Advanced Materials NewCo ULC Subsidiary · Alberta, Canada
    • Athens Canada Advanced Materials SubCo Ltd. Subsidiary · Alberta, Canada
    • Athens Canada Advanced Materials TC ULC Subsidiary · Alberta, Canada
    • Athens Deutschland II GmbH Subsidiary · Germany
    • Athens Deutschland III GmbH Subsidiary · Germany
    • Athens do Brasil Ltda. Subsidiary · Brazil
    • Athens Enterprise Management (Shanghai) Co., Ltd. Subsidiary · China
    • ATHENS TÜRKIYE İLERİ MALZEME TEKNOLOJİLERİ LİMİTED ŞİRKETİ Subsidiary · Turkey
    • Australia Athens Pty Ltd Subsidiary · Australia
    • Authentication Technologies LLC Subsidiary · Delaware, United States
    • Belgium Athens Subsidiary · Belgium
    • ConverDyn, GP Subsidiary · Delaware, United States
    • Czech Republic Athens s.r.o. Subsidiary · Czechia
    • France Athens SAS Subsidiary · France
    • Honeywell (Singapore) Pte Ltd Subsidiary · Singapore
    • Honeywell Advanced Materials (China) Co. Ltd. Subsidiary · China
    • and 32 more

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Solstice Advanced Materials Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$4.6B5 Dec 31, 2025$4.2B5 Dec 31, 2024+11.8%
Accumulated depreciation$2.6B5 Dec 31, 2025$2.4B5 Dec 31, 2024+7.4%
Property and equipment, net$2.1B5 Dec 31, 2025$1.7B5 Dec 31, 2024+17.7%
Finance-lease assets$151.0M5 Dec 31, 2025$94.0M5 Dec 31, 2024+60.6%
Operating-lease assets (leased space)$89.0M5 Dec 31, 2025$90.0M5 Dec 31, 2024−1.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$534.0M5 Dec 31, 2025$661.0M5 Dec 31, 2024−19.2%
Stakes in other companies (equity method)$162.0M5 Dec 31, 2025$146.0M5 Dec 31, 2024+11.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$820.0M5 Dec 31, 2025$806.0M5 Dec 31, 2024+1.7%
Intangible assets, net (excluding goodwill)$49.0M5 Dec 31, 2025$35.0M5 Dec 31, 2024+40.0%
Finite-lived intangibles, gross$58.0M5 Dec 31, 2025$43.0M5 Dec 31, 2024+34.9%
Accumulated amortization$37.0M5 Dec 31, 2025$33.0M5 Dec 31, 2024+12.1%
Finite-lived intangibles, net$21.0M5 Dec 31, 2025$10.0M5 Dec 31, 2024+110.0%

Inventory

ItemLatestA year beforeChange
Inventory, total$715.0M5 Dec 31, 2025$558.0M5 Dec 31, 2024+28.1%
Work in process$239.0M5 Dec 31, 2025$193.0M5 Dec 31, 2024+23.8%
Finished goods$405.0M5 Dec 31, 2025$298.0M5 Dec 31, 2024+35.9%

Properties, in its own words

The Company is headquartered in Morris Plains, New Jersey, U.S., and maintains a global network of production facilities and technical centers in cost-effective and strategic locations. We also use contract manufacturing and joint ventures to provide regional access or to lower manufacturing costs as appropriate.

As of December 31, 2025, we directly owned or leased 45 properties, including manufacturing sites, R&D facilities, land and corporate functions, several of which have multiple functions located on the same property. Most of the manufacturing facilities have R&D capabilities and warehousing on site. The Company’s plants and equipment are maintained in good operating condition, and we believe our current production capacity for primary products is sufficient to meet foreseeable demand. Our global footprint enables us to serve customers locally. The following table shows the geographic distribution of our sites:

The rest of Item 2

Americas · Asia Pacific · EMEA · Total

Manufacturing · 16 · 3 · 1 · 20

R&D · 3 · 1 · — · 4

Land · 3 · — · — · 3

Corporate · 8 · 7 · 3 · 18

Total · 30 · 11 · 4 · 45

We own most manufacturing sites and lease properties involving corporate functions. The following table shows the split of these sites (excluding joint venture operations):

Owned · Leased · Total

Operations · 20 · 7 · 27

Corporate1 · — · 18 · 18

1.As part of the Spin-off, we entered into site-sharing and services agreements with Honeywell, under which we and Honeywell allow each other to use certain shared facilities. Refer to “Certain Relationships and Related Party Transactions—Agreements with Honeywell” in the Company’s final Information Statement, dated October 17, 2025 for details.

Item 2 of the 10-K filed Feb 19, 2026.4

Leadership

Who has led Solstice Advanced Materials Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (17)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • AM Mexico Athens, S. de R.L. de C.V. Mexico3
  • ATHENS TÜRKIYE İLERİ MALZEME TEKNOLOJİLERİ LİMİTED ŞİRKETİ Turkey3
  • AdvInnov Materials India Private Limited India3
  • Advanced Materials Arabia Saudi Arabia3
  • Advanced Materials RO S.R.L. Romania3
  • Allied Chemical Nuclear Products, Inc. Delaware3
  • Amherstburg Land Holdings Limited Federal, Canada3
  • Asahi-Schwebel (Taiwan) Co., Ltd. Taiwan3
  • Athens AM GmbH Austria3
  • Athens AM Holding Limited Ireland3
  • Athens Canada Advanced Materials NewCo ULC Alberta, Canada3
  • Athens Canada Advanced Materials SubCo Ltd. Alberta, Canada3
  • Athens Canada Advanced Materials TC ULC Alberta, Canada3
  • Athens Deutschland II GmbH Germany3
  • Athens Deutschland III GmbH Germany3
  • Athens Enterprise Management (Shanghai) Co., Ltd. China3
  • Athens do Brasil Ltda. Brazil3
  • Australia Athens Pty Ltd Australia3
  • Authentication Technologies LLC Delaware3
  • Belgium Athens Belgium3
  • ConverDyn, GP Delaware3
  • Czech Republic Athens s.r.o. Czech Republic3
  • France Athens SAS France3
  • Honeywell (Singapore) Pte Ltd Singapore3
All 57 listed subsidiaries
  • Honeywell Advanced Materials (China) Co. Ltd. China3
  • Honeywell Electronic Chemicals LLC Delaware3
  • Honeywell Electronic Materials (Thailand) Co., Ltd. Thailand3
  • Honeywell Electronic Materials Manufacturing, LLC Washington3
  • Honeywell Electronic Materials Taiwan Co., Ltd. Taiwan3
  • Honeywell Electronic Materials, Inc. Washington3
  • Honeywell Energy Services Inc. Delaware3
  • Honeywell Fluorine Products Europe B.V. Netherlands3
  • Honeywell Holding LLC Delaware3
  • Honeywell Hornets Singapore Pte. Ltd. Singapore3
  • Honeywell Japan Ltd. Japan3
  • Honeywell Performance Materials & Technologies Korea Ltd South Korea3
  • Honeywell Polymers (Australia) Pty Limited Australia3
  • Honeywell Riedel-de Haën GmbH Germany3
  • Honeywell Riedel-de Haën Sozialhilfe GmbH Germany3
  • Honeywell Sinochem Lantian Environmental Protection Materials (Shanghai) Co., Ltd. China3
  • Honeywell Sinochem Lantian New Materials Co., Ltd. China3
  • Honeywell Specialty Chemicals Seelze GmbH Germany3
  • Honeywell Trading (Shanghai) Co., Ltd. China3
  • Italy Athens S.R.L. Italy3
  • Niedersächsische Gesellschaft zur Endablagerung von Sonderabfall mbH Germany3
  • Poland Athens spolka z ograniczona odpowiedzialnoscia Poland3
  • Quimobasicos, S.A. de C.V. Mexico3
  • SOLSTICE ADVANCED MATERIALS UK LIMITED United Kingdom3
  • Solstice AM (Hong Kong) Limited Hong Kong3
  • Solstice AM Middle East General Trading FZE United Arab Emirates3
  • Solstice Advanced Materials Ireland Limited Ireland3
  • Solstice Advanced Materials US, Inc. Delaware3
  • Spain Advanced Materials Athens, S.L. Spain3
  • Swiss Athens GmbH Switzerland3
  • US Athens FinCo LLC Delaware3
  • US CFC HoldCo LLC Delaware3
  • Vietnam Athens LLC Vietnam3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Solstice Advanced Materials, LLCMay 1, 2025 to Aug 21, 20252

Timeline

  1. Aug 27, 20268-K Entered a material agreement; Ended a material agreement; Regulation FD disclosure26
  2. Jul 30, 20268-K Results of operations27
  3. Jul 27, 20268-K Entered a material agreement28
  4. Jul 20, 20268-K Regulation FD disclosure29
  5. Jul 17, 20268-K Other events30
  6. Jul 9, 20268-K Financial statements and exhibits31
  7. Jul 7, 20268-K Entered a material agreement; Other events32
  8. Jul 6, 20268-K Regulation FD disclosure33
  9. May 22, 20268-K Shareholder vote34
  10. May 6, 20268-K Results of operations35
  11. Apr 27, 20268-K Other events36
  12. Feb 25, 20268-K Executive or director change37
  13. Nov 3, 2025New chief executive David B. Sewell becomes CEO8

Calendar

Coming up

  1. Nov 4, 2026 · Before the openReports results for the quarter ending Sep/202638

When it reported results

  1. Jul 30, 2026Reported quarterly or annual results27
  2. May 6, 2026Reported quarterly or annual results35
  3. Feb 11, 2026Reported quarterly or annual results39
  4. Nov 6, 2025Reported quarterly or annual results40

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

175 filings to the SEC since October 2021: 1 annual reports, 3 quarterly reports, 17 major events, 116 insider forms, 8 large holders, 30 other. The latest 20:

  1. Sep 14, 20264 EDGAR
  2. Sep 14, 20264 EDGAR
  3. Sep 14, 20264 EDGAR
  4. Sep 14, 20264 EDGAR
  5. Sep 14, 20264 EDGAR
  6. Sep 14, 20264 EDGAR
  7. Sep 14, 20264 EDGAR
  8. Sep 14, 20264 EDGAR
  9. Sep 14, 20264 EDGAR
  10. Sep 14, 20264 EDGAR
  11. Sep 14, 20264 EDGAR
  12. Sep 14, 20264 EDGAR
  13. Sep 14, 20264 EDGAR
  14. Sep 14, 20264 EDGAR
  15. Sep 14, 20264 EDGAR
  16. Sep 14, 20264 EDGAR
  17. Aug 27, 20268-K EDGAR
  18. Aug 11, 2026425 EDGAR
  19. Aug 4, 20264 EDGAR
  20. Aug 3, 20264 EDGAR

The 175 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025David SewellPresident and Chief Executive Officer$680.5K$8.0M45
2025Tina PierceSVP, Chief Financial Officer$589.3K$3.7M45
2025Jeffrey DormoSVP, Refrigerants & Applied Solutions$500.3K$3.0M45
2025Jason CliffordSVP and Chief Human Resources Officer$262.6K$2.9M45
2025Simon MawsonSVP, Electronic & Specialty Materials$460.9K$2.9M45
2024Jeffrey DormoSVP, Refrigerants & Applied Solutions$474.1K$1.5M45
2024Simon MawsonSVP, Electronic & Specialty Materials$437.3K$924.7K45

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.15,931,864$1.4B0.0%+955,263
Vanguard Portfolio Management LLC7,942,655$703.7M0.0%+14,261
Vanguard Capital Management LLC7,173,963$635.6M0.0%+47,450
State Street Corp5,063,616$448.6M0.0%+93,731
Two Sigma Investments, LP3,355,801$297.3M0.2%+905,732
Geode Capital Management, LLC3,291,746$291.7M0.0%+870,370
Goldman Sachs Group Inc2,880,302$255.2M0.0%+234,065
Morgan Stanley2,831,377$250.9M0.0%+274,730
Castle Hook Partners LP2,226,617$197.3M2.1%No change
UBS Group AG2,211,844$196.0M0.0%−459,740
Norges Bank2,199,433$194.9M0.0%New
Xn LP2,158,232$191.2M5.0%−507,036
Jane Street Group, LLC2,147,614$190.3M0.1%−888,554
Fmr LLC1,806,205$160.0M0.0%−696,430
Bank Of America Corp /de/1,733,804$153.6M0.0%+278,749
Marshall Wace, Llp1,668,684$147.8M0.1%+334,490
Charles Schwab Investment Management Inc1,666,024$147.6M0.0%+90,053
Raymond James Financial Inc1,563,715$138.5M0.0%+573,310
Bnp Paribas Financial Markets1,553,563$137.6M0.1%+626,749
Dimensional Fund Advisors LP1,532,591$135.7M0.0%−277,569
Aqr Capital Management LLC1,539,974$133.6M0.0%+832,477
Northern Trust Corp1,457,954$129.2M0.0%+20,766
Arrowstreet Capital, Limited Partnership1,162,932$103.0M0.0%−204,192
Qube Research & Technologies Ltd1,136,983$100.7M0.1%+316,808
Jacobs Levy Equity Management, Inc1,045,370$92.6M0.3%+856,987

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

7 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Aug 11, 2026Kelly MorrisonDemocratic, HouseSale$1,001 - $15,000+2.1%Report
Aug 5, 2026Kevin HernRepublican, HouseSale$1,001 - $15,000+4.4%Report
Mar 24, 2026Alan ArmstrongRepublican, SenateSale$1,001 - $15,000+35.1%Report
Nov 24, 2025Debbie DingellDemocratic, HouseSale$1,001 - $15,000−16.4%Report
Oct 30, 2025Debbie DingellDemocratic, HouseExchange$1,001 - $15,000Report
Oct 30, 2025Debbie DingellDemocratic, HouseExchange$1,001 - $15,000Report
Oct 30, 2025Debbie DingellDemocratic, HouseExchange$1,001 - $15,000Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Solstice Advanced Materials Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSolstice Advanced Materials Inc.1
  • CIK0002064953
  • Employer ID (EIN)33-29195634
  • Filer statusNon-accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)2800 Chemicals & Allied Products1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address115 Tabor Road, Morris Plains, NJ 079501
  • Phone704-627-62001
  • Shares outstanding158,847,369 as of Jul 23, 20267
  • Public float$0 as of Jun 30, 20255
  • AuditorDELOITTE & TOUCHE LLP, Morristown, New Jersey PCAOB ID 34; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceMay 1, 20251
  • Filings175 in all: 4 (96), 3 (19), 425 (18), 8-K (16), SCHEDULE 13G (4), SCHEDULE 13G/A (4), 10-Q (3), DEFA14A (2)1
    All 21 form types

    10-12B (1), 10-12B/A (1), 10-K (1), 4/A (1), 8-K/A (1), ARS (1), CERT (1), DEF 14A (1), DRS (1), DRS/A (1), S-8 (1), SD (1), SEC STAFF ACTION (1)

  • Latest filingsAnnual report (10-K) Feb 19, 2026
    Quarterly report (10-Q) Jul 30, 2026
    Proxy statement (DEF 14A) Apr 2, 2026
    Latest 8-K (8-K) Aug 27, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.01 per shareSOLSThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Feb 19, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Solstice Advanced Materials Inc. names in Item 1A of its 10-K filed Feb 19, 2026: 42 risks under these headings, as written.4

  • Risks Relating to Our Business and Operations
  • Risks Relating to the Spin-off
  • Risks Relating to Our Common Stock and the Securities Market
  • We have limited operating history as an independent, publicly traded company, and our historical consolidated financial information is not necessarily representative of the results we would have achieved as an independent, publicly traded company and may not be a reliable indicator of our future results.
  • If we are unable to innovate and successfully introduce new products, or new technologies or processes reduce the demand for our products or the price at which we can sell products, our profitability could be adversely affected.
  • Our business is exposed to risks associated with the volatile global economic environment and geopolitical conditions.
  • Raw material price fluctuations, inflation, scarcity, the ability of key suppliers to meet quality and delivery requirements or catastrophic events can increase the cost of our products and services, impact our ability to meet commitments to customers and cause us to incur significant liabilities.
  • Our products and operations are subject to numerous and increasingly complex government regulations, which may be subject to change, and compliance with these regulations could require us to incur additional costs or to reformulate or discontinue certain of our products and could have a significant impact on our business, financial condition, results of operations and cash flows.
  • Global climate change and related regulations and changes in customer demand could negatively affect our business, financial condition, results of operations and cash flows.
  • We and our customers operate in a politically sensitive environment, and negative public and political perceptions of nuclear energy and radioactive materials could materially and adversely affect us, our customers, and the markets in which we operate.
  • A significant percentage of our sales and operations is in non-U.S. jurisdictions and is subject to the economic, political, regulatory, foreign exchange and other risks of international operations.
  • If significant tariffs or other restrictions continue to be placed on foreign imports by the U.S. and related countermeasures are taken by impacted foreign countries, our business, financial condition, results of operations and cash flows could be negatively affected.
The other 33 risks
  • We have outstanding indebtedness, and the degree to which we are leveraged could adversely affect our business, financial condition, results of operations and cash flow.
  • We may not be able to obtain additional capital that we need in the future on favorable terms or at all.
  • We may be unable to compete successfully in the competitive markets in which we operate and, as a result, we may experience pricing pressure, fewer customer orders, reduced margins and the loss of market share.
  • Concentrations of credit, counterparty, and market risk may adversely affect our business, financial condition, results of operations and cash flows.
  • We may be unable to successfully execute or effectively integrate acquisitions or complete potential divestitures.
  • We face risks associated with our joint ventures and strategic co-development partnerships.
  • We depend on the recruitment and retention of qualified personnel, and our failure to attract and retain such personnel could adversely affect our business, financial condition, results of operations and cash flows.
  • Our operations and the prior operations of predecessor companies expose us to the risk of material environmental liabilities.
  • Chemical manufacturing is inherently hazardous and may result in accidents, which may disrupt our operations or expose us to significant losses, liabilities or reputational harm.
  • We face the risk of significant decommissioning and remediation expense in the event of a shut down of any manufacturing or other site, including sites in respect of which regulators, including the U.S. Nuclear Regulatory Commission (the “NRC”) and EPA (pursuant to the Resource Conservation and Recovery Act (“RCRA”)), may require letters of credit or other financial assurance.
  • We cannot predict with certainty the outcome of litigation matters, government proceedings and other contingencies and uncertainties.
  • Our business, reputation and financial performance may be materially impacted by cybersecurity attacks or data privacy or information security breaches.
  • A material disruption of our operations, particularly at our manufacturing facilities or within our IT infrastructure, could adversely affect our business, financial condition, results of operations and cash flows.
  • We may be impacted by increasing stakeholder interest in public company performance, disclosure, and goal-setting with respect to sustainability matters.
  • If our intellectual property were compromised or copied, if our competitors were to develop similar or superior intellectual property or technology or if we fail to maintain, protect, defend or enforce our intellectual property or to be successful in litigation related to our intellectual property or the intellectual property of others, our business, financial condition, results of operations and cash flows could be negatively affected.
  • Our U.S. and non-U.S. tax liabilities are dependent, in part, upon the distribution of income among various jurisdictions in which we operate, as well as changes in tax law or regulation.
  • We may be required to make significant cash contributions to the defined benefit pension plans that we sponsor.
  • If we fail to maintain proper and effective internal controls, our ability to produce accurate and timely financial statements could be impaired, our stock price and our ability to access the capital markets could be adversely impacted, and investors’ views of us could be harmed.
  • The Spin-off could result in significant tax liability to Honeywell and its shareowners if it is determined to be a taxable transaction and, in certain circumstances, the Company could be required to indemnify Honeywell for material taxes pursuant to indemnification obligations under the Tax Matters Agreement.
  • To preserve the intended tax-free treatment to Honeywell and its shareowners of the Spin-off and certain related transactions under the Tax Matters Agreement that we entered into with Honeywell, we are restricted from taking certain actions that could adversely impact the intended tax treatment of the Spin-off and such related transactions.
  • We may be unable to achieve some or all of the benefits that we expect to achieve from the Spin-off.
  • We may be unable to make, on a timely or cost-effective basis, the changes necessary to operate as an independent, publicly traded company, and we may experience increased costs after the Spin-off.
  • We may have potential business conflicts of interest with Honeywell with respect to our past and ongoing relationships.
  • Certain of our directors and employees may have actual or potential conflicts of interest because of their financial interests in Honeywell.
  • As we build our IT infrastructure and transition our data to our own systems, we could incur substantial additional costs and experience temporary business interruptions, including cybersecurity incidents.
  • Restrictions under the Intellectual Property Cross-License Agreement may limit our ability to develop and commercialize certain products and services and/or prosecute, maintain and enforce certain intellectual property.
  • In connection with the Spin-off, we assumed and agreed to indemnify Honeywell for certain liabilities. If we are required to make payments pursuant to these indemnities, we may need to divert cash to meet those obligations, and our financial results could be negatively impacted. In addition, Honeywell will indemnify us for certain liabilities. These indemnities may not be sufficient to insure us against the full amount of liabilities we incur.
  • The Spin-off and related internal restructuring transactions may expose us to potential liabilities arising out of state and federal fraudulent conveyance laws and legal dividend requirements.
  • Our stock price may fluctuate significantly.
  • We will evaluate whether to continue to pay cash dividends on our common stock in the future, and the terms of our indebtedness may limit our ability to pay dividends on our common stock or the amount thereof or otherwise engage in actions intended to return capital to our shareowners.
  • Your percentage ownership in the Company may be diluted in the future.
  • Certain provisions in our Amended and Restated Certificate of Incorporation and Amended and Restated By-Laws and Delaware law may discourage takeovers.
  • Our Amended and Restated By-Laws designate the courts of the State of Delaware or the federal district courts of the U.S., as applicable, as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our shareowners, which could limit our shareowners’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or other employees.

Legal proceedings

We are subject to a number of lawsuits, investigations, disputes and claims (some of which involve substantial amounts) arising out of the conduct of our business, including matters relating to commercial transactions, intellectual property and environmental, health and safety matters. We recognize a liability for any contingency that is probable of occurrence and reasonably estimable. We continually assess the likelihood of adverse judgments or outcomes in these matters, as well as potential ranges of possible losses (taking into consideration any insurance recoveries), based on careful analysis of each matter with the assistance of outside legal counsel and, if applicable, other experts. See Note 20 - Commitments and Contingencies of the Notes to the Consolidated Financial Statements for a discussion of environmental, asbestos, and other litigation matters.

The opening of Item 3, Legal Proceedings.4

Sources

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