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Organon & Co.

OGN NYSE Pharmaceutical Preparations Financials FY2019–FY2025

Revenue Total sales reported in the income statement.
$6.2B
2.9% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$187M
78.4%
Free cash flow Cash from operations minus capital spending.
$538M
29.6%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
—
P/E Last close divided by diluted earnings per share over the last four quarters.
—
On $0.78 EPS (TTM)

What Organon & Co. does

No business description yet.

Legal name
Organon & Co.
Fiscal year ends
December 31, 2025
Latest annual report
10-K · Feb 24, 2026
Accession · CIK
0001628280-26-011125
0001821825

Revenue and margins

Organon & Co. had $6.2B of revenue in fiscal 2025, down 2.9% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2019 to 2025, diluted EPS grew −38.0% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $538M in fiscal 2025, 8.7% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Organon & Co. returned $88.0M to shareholders in fiscal 2025, 16% of free cash flow. The diluted share count rose 0.6%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Balance sheet

Cash, debt and the ratios that show how comfortably Organon & Co. can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $737M$706M$693M$675M$574M
Debt incl. finance leases $9.1B$8.9B$8.8B$8.9B$8.7B
Debt / equity ———18.9x11.5x
Current ratio 1.4x1.6x1.5x1.6x1.8x
Quick ratio 1.1x1.2x1.1x1.1x1.2x
Total assets $10.7B$11.0B$12.1B$13.1B$12.9B
Total liabilities $12.2B$11.8B$12.1B$12.6B$12.1B
Shareholders' equity −$1.5B−$892M−$70.0M$472M$752M
Net debt (− = net cash) $8.4B$8.2B$8.1B$8.2B$8.1B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY19FY20FY21FY22FY23FY24FY25
Net income is positive ✓ ✓ ✓ ✓ ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓ ✓ ✓ ✓ ✓
Return on assets rose — — ✕ ✕ ✓ ✕ ✕
Cash from operations exceeds net income ✕ ✓ ✓ ✕ ✕ ✓ ✓
Debt fell relative to assets — — ✕ ✓ ✓ ✓ ✓
Current ratio rose — — ✓ ✓ ✕ ✓ ✓
Share count didn't rise — ✓ ✕ ✕ ✕ ✕ ✕
Gross margin rose — ✕ ✕ ✓ ✕ ✕ ✕
Revenue rose relative to assets — — ✕ ✕ ✕ ✕ ✕
F-score — / 3— / 54 / 95 / 94 / 95 / 95 / 9
Accruals ratio —−1.2%−7.8%0.5%1.9%−0.6%−4.0%
Altman Z'' ———————

7 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $7.8B $6.5B $6.3B $6.2B $6.3B $6.4B $6.2B
Gross profit $5.5B $4.4B $3.9B $3.9B $3.7B $3.7B $3.3B
Research and development $220M $210M $443M $471M $528M $469M $366M
Interest expense $0.0M $0.0M $258M $422M $527M $520M $504M
Pretax income $3.7B $2.8B $1.5B $1.1B $673M $807M $425M
Income tax $390M $496M $178M $205M −$350M −$57.0M $238M
Net income $3.2B $2.2B $1.4B $917M $1.0B $864M $187M
Diluted EPS $12.69 $8.52 $5.31 $3.59 $3.99 $3.33 $0.72
Diluted shares 0.25B 0.25B 0.25B 0.26B 0.26B 0.26B 0.26B
Cash flow
Cash from operations $3.0B $2.3B $2.2B $858M $799M $939M $700M
Capital expenditure $92.0M $255M $192M $196M $251M $175M $162M
Free cash flow $2.9B $2.0B $2.0B $662M $548M $764M $538M
Depreciation and amortization $49.0M $56.0M $92.0M $96.0M $120M $132M $156M
Stock-based compensation $41.0M $40.0M $59.0M $75.0M $101M $105M $77.0M
Dividends paid $0.0M $0.0M $145M $290M $294M $297M $88.0M
Dividends and buybacks $0.0M $0.0M $145M $290M $294M $297M $88.0M
Balance sheet
Cash and short-term investments $0.0M $12.0M $737M $706M $693M $675M $574M
Total debt — $0.0M $9.1B $8.9B $8.8B $8.9B $8.7B
Current assets — $3.6B $3.8B $3.9B $4.5B $4.3B $4.4B
Current liabilities — $2.7B $2.6B $2.5B $2.9B $2.7B $2.4B
Inventory — $913M $915M $1.0B $1.3B $1.3B $1.4B
Property and equipment, net — $984M $973M $1.0B $1.2B $1.2B $1.3B
Goodwill — $4.6B $4.6B $4.6B $4.6B $4.7B $4.2B
Intangible assets — $503M $651M $649M $533M $1.4B $1.1B
Total assets — $10.1B $10.7B $11.0B $12.1B $13.1B $12.9B
Total liabilities — $4.6B $12.2B $11.8B $12.1B $12.6B $12.1B
Shareholders' equity $7.0B $5.5B −$1.5B −$892M −$70.0M $472M $752M
Margins
Gross margin 70.8% 67.6% 62.2% 62.8% 59.8% 58.0% 53.3%
Net margin 41.4% 33.1% 21.4% 14.9% 16.3% 13.5% 3.0%
FCF margin 37.6% 31.1% 31.2% 10.7% 8.7% 11.9% 8.7%
Returns
Return on equity 45.7% 34.5% 67.9% — — 429.9% 30.6%
Return on assets — 21.4% 13.0% 8.5% 8.9% 6.9% 1.4%
Return on tangible equity 45.7% 568.4% — — — — —
Growth
Revenue growth — −16.0% −3.5% −2.1% 1.4% 2.2% −2.9%
Net income growth — −32.9% −37.5% −32.1% 11.6% −15.5% −78.4%
EPS growth — −32.9% −37.7% −32.4% 11.1% −16.5% −78.4%
FCF growth — −30.7% −3.0% −66.4% −17.2% 39.4% −29.6%
Share count change — 0.0% 0.3% 0.4% 0.4% 1.1% 0.6%
Financial health
Debt / equity — 0.0x — — — 18.9x 11.5x
Current ratio — 1.3x 1.4x 1.6x 1.5x 1.6x 1.8x
Quick ratio — 1.0x 1.1x 1.2x 1.1x 1.1x 1.2x
Capital allocation
Capex / revenue 1.2% 3.9% 3.0% 3.2% 4.0% 2.7% 2.6%
Stock comp / revenue 0.5% 0.6% 0.9% 1.2% 1.6% 1.6% 1.2%
Payouts / FCF 0.0% 0.0% 7.4% 43.8% 53.6% 38.9% 16.4%
Quality scores
Piotroski F-score — — 4.0 5.0 4.0 5.0 5.0
Accruals ratio — −1.2% −7.8% 0.5% 1.9% −0.6% −4.0%

Source: SEC EDGAR XBRL filings (CIK 0001821825). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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