NYSE : OGN
Organon & Co. — Financial statements
Healthcare · Drug Manufacturers - General · United States
Last price 13.81 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 3.63B
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Financial statements
Organon & Co. (OGN) reported revenue of 6.10B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 6.10B | 6.22B | 6.40B | 6.26B | 6.17B | 6.30B |
| Cost of Revenue | 2.83B | 2.84B | 2.69B | 2.52B | 2.29B | 2.38B |
| Gross Profit | 3.27B | 3.38B | 3.71B | 3.75B | 3.88B | 3.93B |
| Selling, General & Admin | 1.71B | 1.72B | 1.75B | 1.89B | 1.70B | 1.67B |
| Research & Development | 357.00M | 366.00M | 469.00M | 528.00M | 471.00M | 339.00M |
| Operating Expenses | 2.07B | 2.08B | 2.22B | 2.42B | 2.17B | 2.01B |
| Operating Income | 1.21B | 1.29B | 1.50B | 1.33B | 1.71B | 1.92B |
| Interest Expense | -446.00M | -504.00M | -520.00M | -527.00M | -422.00M | -258.00M |
| Currency Exchange Gain (Loss) | -17.00M | -14.00M | -26.00M | -42.00M | -11.00M | -4.00M |
| Other Non Operating Income (Expenses) | -44.00M | -2.00M | -20.00M | -17.00M | -17.00M | -16.00M |
| EBT Excluding Unusual Items | 698.00M | 773.00M | 931.00M | 743.00M | 1.26B | 1.64B |
| Merger & Restructuring Charges | -80.00M | -144.00M | -43.00M | -62.00M | -28.00M | -3.00M |
| Impairment of Goodwill | -301.00M | -301.00M | ||||
| Asset Writedown | -9.00M | -7.00M | ||||
| Other Unusual Items | 106.00M | 112.00M | -5.00M | |||
| Pretax Income | 503.00M | 425.00M | 807.00M | 673.00M | 1.12B | 1.53B |
| Income Tax Expense | 290.00M | 238.00M | -57.00M | -350.00M | 205.00M | 178.00M |
| Earnings From Continuing Operations | 213.00M | 187.00M | 864.00M | 1.02B | 917.00M | 1.35B |
| Net Income | 213.00M | 187.00M | 864.00M | 1.02B | 917.00M | 1.35B |
| Net Income to Common | 213.00M | 187.00M | 864.00M | 1.02B | 917.00M | 1.35B |
| Shares Outstanding (Basic) | 261.45M | 259.50M | 257.05M | 255.24M | 254.08M | 253.54M |
| Shares Outstanding (Diluted) | 266.74M | 260.76M | 259.15M | 256.27M | 255.17M | 254.19M |
| EPS (Basic) | 0.81 | 0.72 | 3.36 | 4.01 | 3.61 | 5.33 |
| EPS (Diluted) | 0.81 | 0.72 | 3.33 | 3.99 | 3.59 | 5.31 |
| Free Cash Flow | 675.00M | 538.00M | 764.00M | 548.00M | 662.00M | 2.27B |
| Free Cash Flow Per Share | 2.53 | 2.06 | 2.95 | 2.14 | 2.59 | 8.91 |
| Dividend Per Share | 0.08 | 0.34 | 1.12 | 1.12 | 1.12 | 0.56 |
| Gross Margin | 53.65% | 54.34% | 58.02% | 59.84% | 62.92% | 62.33% |
| Operating Margin | 19.76% | 20.80% | 23.38% | 21.22% | 27.73% | 30.47% |
| Profit Margin | 3.49% | 3.01% | 13.49% | 16.33% | 14.85% | 21.43% |
| Free Cash Flow Margin | 11.07% | 8.65% | 11.93% | 8.75% | 10.72% | 35.95% |
| EBITDA | 1.55B | 1.65B | 1.77B | 1.56B | 1.92B | 2.12B |
| EBITDA Margin | 25.40% | 26.61% | 27.71% | 24.99% | 31.16% | 33.57% |
| D&A For EBITDA | 344.00M | 361.00M | 277.00M | 236.00M | 212.00M | 195.00M |
| EBIT | 1.21B | 1.29B | 1.50B | 1.33B | 1.71B | 1.92B |
| EBIT Margin | 19.76% | 20.80% | 23.38% | 21.22% | 27.73% | 30.47% |
| Effective Tax Rate | 57.65% | 56.00% | 18.27% | 11.64% | ||
| Advertising Expenses | 240.00M | 206.00M | 209.00M | 255.00M | 236.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.46B | 574.00M | 675.00M | 693.00M | 706.00M | 737.00M |
| Cash & Short-Term Investments | 1.46B | 574.00M | 675.00M | 693.00M | 706.00M | 737.00M |
| Accounts Receivable | 1.48B | 1.33B | 1.39B | 1.74B | 1.50B | 1.40B |
| Other Receivables | 102.00M | 103.00M | 113.00M | 110.00M | 115.00M | |
| Receivables | 1.48B | 1.43B | 1.49B | 1.86B | 1.61B | 1.51B |
| Inventory | 1.35B | 1.41B | 1.32B | 1.31B | 1.00B | 915.00M |
| Other Current Assets | 1.08B | 354.00M | 352.00M | 643.00M | 616.00M | 596.00M |
| Total Current Assets | 5.37B | 4.35B | 4.35B | 4.51B | 3.93B | 3.76B |
| Property, Plant & Equipment | 1.29B | 1.46B | 1.32B | 1.36B | 1.23B | 1.20B |
| Goodwill | 4.15B | 4.15B | 4.68B | 4.60B | 4.60B | 4.60B |
| Other Intangible Assets | 1.06B | 1.13B | 1.41B | 533.00M | 649.00M | 651.00M |
| Long-Term Deferred Tax Assets | 985.00M | 946.00M | 808.00M | 267.00M | 272.00M | |
| Other Long-Term Assets | 1.53B | 789.00M | 388.00M | 250.00M | 272.00M | 192.00M |
| Total Assets | 13.40B | 12.87B | 13.10B | 12.06B | 10.96B | 10.68B |
| Accounts Payable | 982.00M | 952.00M | 1.15B | 1.31B | 1.13B | 1.38B |
| Accrued Expenses | 1.50B | 1.23B | 1.26B | 1.27B | 1.09B | 970.00M |
| Current Portion of Long-Term Debt | 69.00M | 16.00M | 20.00M | 9.00M | 8.00M | 9.00M |
| Current Portion of Leases | 40.00M | 44.00M | 46.00M | 49.00M | 46.00M | |
| Current Income Taxes Payable | 79.00M | 85.00M | 134.00M | 206.00M | 184.00M | 185.00M |
| Other Current Liabilities | 24.00M | 71.00M | 102.00M | 77.00M | 44.00M | 5.00M |
| Total Current Liabilities | 2.65B | 2.39B | 2.72B | 2.92B | 2.51B | 2.60B |
| Long-Term Debt | 8.48B | 8.63B | 8.86B | 8.75B | 8.90B | 9.12B |
| Long-Term Leases | 116.00M | 112.00M | 125.00M | 150.00M | 184.00M | |
| Pension & Post-Retirement Benefits | 61.00M | 77.00M | 76.00M | 47.00M | 72.00M | |
| Long-Term Deferred Tax Liabilities | 45.00M | 57.00M | 74.00M | 47.00M | 19.00M | 4.00M |
| Other Long-Term Liabilities | 1.03B | 863.00M | 788.00M | 211.00M | 214.00M | 207.00M |
| Total Liabilities | 12.21B | 12.12B | 12.63B | 12.13B | 11.85B | 12.19B |
| Common Stock | 3.00M | 3.00M | 3.00M | 3.00M | 3.00M | 3.00M |
| Additional Paid-In Capital | 218.00M | 167.00M | 108.00M | 25.00M | ||
| Retained Earnings | 1.51B | 1.11B | 1.01B | 443.00M | -331.00M | -998.00M |
| Comprehensive Income & Other | -539.00M | -527.00M | -649.00M | -541.00M | -564.00M | -513.00M |
| Shareholders' Equity | 1.19B | 752.00M | 472.00M | -70.00M | -892.00M | -1.51B |
| Total Liabilities & Equity | 13.40B | 12.87B | 13.10B | 12.06B | 10.96B | 10.68B |
| Total Debt | 8.55B | 8.80B | 9.04B | 8.93B | 9.11B | 9.36B |
| Net Cash (Debt) | -7.10B | -8.23B | -8.36B | -8.24B | -8.41B | -8.63B |
| Net Cash Per Share | -26.61 | -31.55 | -32.26 | -32.15 | -32.94 | -33.94 |
| Filing Date Shares Outstanding | 262.62M | 260.32M | 257.95M | 255.64M | 254.38M | 253.64M |
| Total Common Shares Outstanding | 262.62M | 260.32M | 257.80M | 255.63M | 254.37M | 253.55M |
| Working Capital | 2.72B | 1.96B | 1.63B | 1.59B | 1.42B | 1.16B |
| Book Value Per Share | 4.54 | 2.89 | 1.83 | -0.27 | -3.51 | -5.95 |
| Tangible Book Value | -4.03B | -4.53B | -5.62B | -5.21B | -6.14B | -6.76B |
| Tangible Book Value Per Share | -15.33 | -17.41 | -21.81 | -20.37 | -24.15 | -26.67 |
| Land | 15.00M | 12.00M | 14.00M | 13.00M | 14.00M | |
| Buildings | 850.00M | 721.00M | 721.00M | 694.00M | 667.00M | |
| Machinery | 1.39B | 1.21B | 1.19B | 935.00M | 917.00M | |
| Construction In Progress | 289.00M | 286.00M | 274.00M | 278.00M | 257.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 213.00M | 187.00M | 864.00M | 1.02B | 917.00M | 1.35B |
| Depreciation & Amortization | 344.00M | 361.00M | 277.00M | 236.00M | 212.00M | 195.00M |
| Asset Writedown & Restructuring Costs | 302.00M | 316.00M | 81.00M | 8.00M | 116.00M | 111.00M |
| Stock-Based Compensation | 72.00M | 77.00M | 105.00M | 101.00M | 75.00M | 59.00M |
| Other Operating Activities | 8.00M | 6.00M | -110.00M | -414.00M | -10.00M | -258.00M |
| Change in Accounts Receivable | -7.00M | 79.00M | 383.00M | -212.00M | -123.00M | -277.00M |
| Change in Inventory | 45.00M | -13.00M | -131.00M | -230.00M | -220.00M | -138.00M |
| Change in Accounts Payable | -81.00M | -217.00M | -157.00M | 163.00M | -237.00M | 663.00M |
| Change in Income Taxes | -32.00M | -61.00M | -65.00M | 16.00M | 7.00M | -119.00M |
| Change in Other Net Operating Assets | 60.00M | -35.00M | -308.00M | 108.00M | 121.00M | 573.00M |
| Operating Cash Flow | 843.00M | 700.00M | 939.00M | 799.00M | 858.00M | 2.46B |
| Capital Expenditures | -168.00M | -162.00M | -175.00M | -251.00M | -196.00M | -192.00M |
| Sale of Property, Plant & Equipment | 1.00M | 4.00M | 1.00M | 7.00M | 7.00M | |
| Cash Acquisitions | -75.00M | -166.00M | ||||
| Sale (Purchase) of Intangibles | -64.00M | -154.00M | -176.00M | -10.00M | -231.00M | -296.00M |
| Investing Cash Flow | 201.00M | -390.00M | -513.00M | -260.00M | -420.00M | -481.00M |
| Long-Term Debt Issued | 1.05B | 1.19B | 80.00M | 9.47B | ||
| Total Debt Issued | 325.00M | 1.05B | 1.19B | 80.00M | 9.47B | |
| Short-Term Debt Repaid | -1.51B | |||||
| Long-Term Debt Repaid | -1.51B | -1.20B | -338.00M | -108.00M | -112.00M | |
| Total Debt Repaid | -539.00M | -1.51B | -1.20B | -338.00M | -108.00M | -1.62B |
| Net Debt Issued (Repaid) | -214.00M | -458.00M | -11.00M | -258.00M | -108.00M | 7.85B |
| Repurchase of Common Stock | -8.00M | -15.00M | -22.00M | -17.00M | -11.00M | |
| Common Dividends Paid | -20.00M | -88.00M | -297.00M | -294.00M | -290.00M | -145.00M |
| Other Financing Activities | -38.00M | -24.00M | -9.03B | |||
| Financing Cash Flow | -242.00M | -561.00M | -368.00M | -569.00M | -433.00M | -1.33B |
| Foreign Exchange Rate Adjustments | -19.00M | 150.00M | -76.00M | 17.00M | -36.00M | 23.00M |
| Net Cash Flow | 783.00M | -101.00M | -18.00M | -13.00M | -31.00M | 667.00M |
| Free Cash Flow | 675.00M | 538.00M | 764.00M | 548.00M | 662.00M | 2.27B |
| Free Cash Flow Margin | 11.07% | 8.65% | 11.93% | 8.75% | 10.72% | 35.95% |
| Free Cash Flow Per Share | 2.53 | 2.06 | 2.95 | 2.14 | 2.59 | 8.91 |
| Levered Free Cash Flow | 721.38M | 190.12M | 574.62M | 395.25M | 377.25M | 2.73B |
| Unlevered Free Cash Flow | 1.00B | 505.12M | 899.62M | 724.62M | 641.00M | 2.89B |
| Cash Interest Paid | 707.00M | 463.00M | ||||
| Cash Income Tax Paid | 287.00M | 287.00M | 293.00M | 135.00M | ||
| Change in Working Capital | -15.00M | -247.00M | -278.00M | -155.00M | -452.00M | 702.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.63B | 1.86B | 3.84B | 3.69B | 7.10B | 7.72B |
| Enterprise Value | 10.73B | 10.02B | 11.83B | 11.93B | 15.30B | 16.30B |
| Last Close Price | 13.82 | 7.13 | 14.47 | 13.16 | 23.98 | 25.21 |
| PE Ratio | 17.08 | 9.97 | 4.45 | 3.60 | 7.75 | 5.71 |
| Forward PE | 3.83 | 1.87 | 3.91 | 3.45 | 5.84 | 5.22 |
| PS Ratio | 0.60 | 0.30 | 0.60 | 0.59 | 1.15 | 1.23 |
| PB Ratio | 3.04 | 2.48 | 8.14 | -52.66 | -7.96 | -5.12 |
| P/FCF Ratio | 5.38 | 3.46 | 5.03 | 6.73 | 10.73 | 3.41 |
| P/OCF Ratio | 4.31 | 2.66 | 4.09 | 4.61 | 8.28 | 3.14 |
| PEG Ratio | 1.45 | 0.76 | 0.99 | 12.41 | 5.69 | |
| EV/Sales Ratio | 1.76 | 1.61 | 1.85 | 1.90 | 2.48 | 2.58 |
| EV/EBITDA Ratio | 6.93 | 6.06 | 6.67 | 7.62 | 7.95 | 7.70 |
| EV/EBIT Ratio | 8.90 | 7.75 | 7.90 | 8.97 | 8.94 | 8.48 |
| EV/FCF Ratio | 15.89 | 18.62 | 15.48 | 21.76 | 23.12 | 7.19 |
| Debt / Equity Ratio | 7.17 | 11.70 | 19.14 | -127.59 | -10.21 | -6.21 |
| Debt / EBITDA Ratio | 5.28 | 5.10 | 4.92 | 5.47 | 4.59 | 4.29 |
| Debt / FCF Ratio | 12.67 | 16.36 | 11.83 | 16.30 | 13.76 | 4.13 |
| Net Debt / Equity Ratio | 5.95 | 10.94 | 17.71 | -117.69 | -9.42 | -5.72 |
| Net Debt / EBITDA Ratio | 4.58 | 4.97 | 4.71 | 5.26 | 4.37 | 4.08 |
| Net Debt / FCF Ratio | 10.52 | 15.29 | 10.94 | 15.03 | 12.70 | 3.81 |
| Asset Turnover | 0.45 | 0.48 | 0.51 | 0.54 | 0.57 | 0.61 |
| Inventory Turnover | 1.99 | 2.08 | 2.04 | 2.17 | 2.39 | 2.60 |
| Quick Ratio | 1.11 | 0.84 | 0.80 | 0.87 | 0.92 | 0.87 |
| Current Ratio | 2.02 | 1.82 | 1.60 | 1.54 | 1.56 | 1.45 |
| Return on Equity (ROE) | 20.29% | 30.55% | 429.85% | 67.92% | ||
| Return on Assets (ROA) | 5.59% | 6.22% | 7.44% | 7.22% | 9.89% | 11.55% |
| Return on Invested Capital (ROIC) | 6.10% | 6.39% | 16.66% | 15.12% | 16.93% | 22.48% |
| Return on Capital Employed (ROCE) | 11.20% | 12.30% | 14.40% | 14.50% | 20.30% | 23.80% |
| Earnings Yield | 5.85% | 10.03% | 22.48% | 27.76% | 12.91% | 17.50% |
| FCF Yield | 18.60% | 28.86% | 19.88% | 14.87% | 9.32% | 29.35% |
| Dividend Yield | 0.58% | 4.75% | 7.51% | 7.77% | 4.01% | 1.84% |
| Payout Ratio | 9.89% | 47.06% | 34.38% | 28.74% | 31.62% | 10.73% |
| Buyback Yield / Dilution | -2.43% | -0.62% | -1.12% | -0.43% | -0.38% | -0.27% |
| Total Shareholder Return | -1.85% | 4.13% | 6.39% | 7.34% | 3.63% | 1.57% |