Organon & Co. (OGN) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.07	$0.85	-20.6%	—	$1.6B	—
Q1 26	$0.85	$0.71	-16.5%	—	$1.5B	—
Q4 25	$0.73	$0.63	-13.7%	—	$1.5B	—
Q3 25	$0.93	$1.01	+8.6%	—	$1.6B	—
Q2 25	$0.38	$0.48	+26.3%	—	$1.6B	—
Q1 25	$0.89	$1.02	+14.6%	—	$1.5B	—
Q4 24	$0.87	$0.9	+3.4%	—	$1.6B	—
Q3 24	$0.9	$0.87	-3.3%	—	$1.6B	—
Q2 24	$1.08	$1.12	+3.7%	—	$1.6B	—
Q1 24	$0.93	$1.22	+31.2%	—	$1.6B	—
Q4 23	$0.83	$0.88	+6.0%	—	$1.6B	—
Q3 23	$1.06	$0.87	-17.9%	—	$1.5B	—
Q2 23	$0.99	$1.31	+32.3%	—	$1.6B	—
Q1 23	$1.16	$1.08	-6.9%	—	$1.5B	—
Q4 22	$0.91	$0.81	-11.0%	—	$1.5B	—
Q3 22	$1.1	$1.32	+20.0%	—	$1.5B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.72	—	—	$6.2B	—
FY24	—	$3.36	—	—	$6.4B	—
FY23	—	$4.01	—	—	$6.3B	—
FY22	—	$3.61	—	—	$6.2B	—
FY21

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$9.8B	$7.8B	$6.5B	$6.3B	$6.2B	$6.3B	$6.4B	$6.2B
YoY change	—	-20.5%	-16%	-3.49%	-2.06%	+1.44%	+2.24%	-2.92%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	9.8B	7.8B	6.5B	6.3B	6.2B	6.3B	6.4B	6.2B
Cost of revenue	4.7B	2.3B	2.1B	2.4B	2.3B	2.5B	2.7B	2.9B
Gross profit	5.1B	5.5B	4.4B	3.9B	3.9B	3.7B	3.7B	3.3B
Gross margin	52%	70.8%	67.6%	62.2%	62.8%	59.8%	58%	53.3%
Research & development	365M	220M	210M	339M	471M	528M	469M	366M
Selling, general & administrative	2B	1.4B	1.4B	1.7B	1.7B	1.9B	1.8B	1.7B
Operating expenses	2.4B	1.7B	1.6B	2B	2.2B	2.4B	2.2B	2.1B
Operating income	2.7B	3.8B	2.8B	1.9B	1.7B	1.3B	1.5B	1.2B
Operating margin	27.7%	49.4%	43.6%	30.4%	27.6%	21.2%	23.2%	19.7%
Non-operating income, net	23M	-144M	-95M	-128M	-161M	-127M	-159M	-297M
Pretax income	2.7B	3.7B	2.8B	1.5B	1.1B	673M	807M	425M
Income tax	576M	390M	496M	178M	205M	-350M	-57M	238M
Net income	2.2B	3.2B	2.2B	1.4B	917M	1B	864M	187M
Net margin	22%	41.4%	33.1%	21.4%	14.9%	16.3%	13.5%	3.01%
EBITDA	4.5B	4.2B	3B	2.1B	1.9B	1.5B	1.7B	1.7B
EPS	8.51	12.7	8.53	5.33	3.61	4.01	3.36	0.72
Diluted EPS	8.51	12.7	8.53	5.31	3.59	3.99	3.33	0.72

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	1.5B	1.6B	1.6B	1.6B	1.6B	1.6B	1.5B	1.6B	1.6B	1.5B	1.5B	1.6B
Cost of revenue	612M	683M	665M	668M	659M	696M	672M	720M	745M	766M	677M	711M
Gross profit	907M	915M	957M	939M	923M	896M	841M	874M	857M	741M	783M	847M
Gross margin	59.7%	57.3%	59%	58.4%	58.3%	56.3%	55.6%	54.8%	53.5%	49.2%	53.6%	54.4%
Research & development	137M	134M	112M	116M	111M	130M	96M	95M	84M	91M	93M	90M
Selling, general & administrative	538M	469M	431M	437M	422M	470M	420M	453M	415M	433M	424M	434M
Operating expenses	675M	603M	543M	553M	533M	600M	516M	548M	499M	524M	517M	524M
Operating income	232M	312M	414M	386M	390M	296M	325M	326M	358M	217M	266M	323M
Operating margin	15.3%	19.5%	25.5%	24%	24.7%	18.6%	21.5%	20.5%	22.3%	14.4%	18.2%	20.7%
Non-operating income, net	-18M	-79M	-47M	-20M	-57M	-35M	-100M	34M	13M	-244M	58M	-32M
Pretax income	80M	104M	236M	235M	207M	129M	101M	229M	243M	-148M	213M	183M
Income tax	22M	-442M	35M	40M	-152M	20M	14M	84M	83M	57M	67M	75M
Net income	58M	546M	201M	195M	359M	109M	87M	145M	160M	-205M	146M	108M
Net margin	3.82%	34.2%	12.4%	12.1%	22.7%	6.85%	5.75%	9.1%	9.99%	-13.6%	10%	6.93%
EBITDA	289M	368M	476M	446M	459M	361M	397M	450M	480M	379M	448M	374M
EPS	0.23	2.14	0.78	0.76	1.39	0.42	0.34	0.56	0.61	-0.79	0.56	0.41
Diluted EPS	0.23	2.13	0.78	0.75	1.38	0.42	0.33	0.56	0.61	-0.79	0.55	0.4

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	7.7B	7.1B	3.7B	3.8B	1.9B	3.6B
Enterprise value	—	—	—	16.1B	15.3B	11.7B	12B	9.9B	11B
Shares outstanding	253.1M	253.1M	253.1M	253.5M	254.1M	255.2M	257M	259.5M	259.5M

Valuation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	5.71	7.74	3.6	4.44	9.95	17.6
P/S	—	—	—	1.22	1.15	0.59	0.6	0.3	0.59
P/B	—	—	—	-5.12	-7.96	-52.6	8.13	2.47	3.58
EV/EBITDA	—	—	—	7.7	8.05	7.59	6.91	5.82	7.05
EV/Sales	—	—	—	2.56	2.48	1.88	1.88	1.6	1.8
Earnings yield	—	—	—	17.5%	12.9%	27.8%	22.5%	10.1%	5.68%
FCF yield	—	—	—	25.5%	6.07%	14.6%	15.3%	20.6%	13.6%
PEG	—	—	—	—	—	—	—	—	-0.66

Profitability

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	52%	70.8%	67.6%	62.2%	62.8%	59.8%	58%	53.3%	54.4%
Operating margin	27.7%	49.4%	43.6%	30.4%	27.6%	21.2%	23.2%	19.7%	20.7%
Net margin	22%	41.4%	33.1%	21.4%	14.9%	16.3%	13.5%	3.01%	3.41%
ROE	—	45.7%	39.4%	-89.6%	-102.8%	-1.5K%	183.1%	24.9%	24%
ROA	—	30.5%	21.4%	12.6%	8.37%	8.48%	6.59%	1.45%	5.67%
ROIC	—	50.4%	34.3%	24.6%	19%	16.6%	17.1%	6.11%	5.88%
Return on tangible assets	—	1.6K%	-2.1K%	780.9%	203.3%	57.3%	94.6%	8.13%	7.89%

Financial health

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	2.95	1.33	1.45	1.56	1.54	1.6	1.82	1.95
Quick ratio	—	2.15	0.99	1.1	1.17	1.09	1.11	1.23	1.44
Debt / equity	—	0.01	0.24	-6.06	-9.99	-125.1	18.8	11.5	8.5
Debt / assets	—	0.01	0.13	0.86	0.81	0.73	0.68	0.67	0.65
Net debt / EBITDA	—	-0.05	0.44	4.01	4.31	5.21	4.71	4.73	4.41
Interest coverage	—	—	—	6.93	3.66	2.28	2.55	1.84	2.05
Effective tax rate	21.1%	10.6%	18%	11.6%	18.3%	0%	0%	56%	57.4%

Per share

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	38.6	30.7	25.8	24.9	24.3	24.5	24.9	24	23.5
EPS (basic)	8.51	12.7	8.53	5.33	3.61	4.01	3.36	0.72	0.72
EPS (diluted)	8.51	12.7	8.53	5.31	3.59	3.99	3.33	0.72	0.78
Book value per share	—	27.8	21.7	-5.95	-3.51	-0.27	1.84	2.9	3.83
FCF per share	14.2	10.6	7.63	7.77	1.7	2.11	2.29	1.48	1.6
Cash per share	—	1.26	0.05	2.91	2.78	2.72	2.63	2.21	4.31
Capex per share	0.13	0.02	0.02	0.03	0.03	0	0.02	0.62	0.63

Capital allocation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.33%	0.05%	0.08%	0.11%	0.11%	0.02%	0.06%	2.61%	2.77%
Capex / operating cash flow	0.78%	0.11%	0.21%	0.36%	1.02%	0.16%	0.36%	23.1%	23.1%
Payout ratio	—	0%	0%	10.7%	31.6%	28.7%	34.4%	47.1%	10.3%
Dividend yield	—	—	—	1.88%	4.09%	7.99%	7.74%	4.73%	0.58%

Yield

0.58%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.02

ex-dividend Aug 14, 2026

Payout ratio

10%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 14, 2026	$0.02
May 11, 2026	$0.02
Feb 23, 2026	$0.02
Nov 20, 2025	$0.02
Aug 15, 2025	$0.02
May 12, 2025	$0.02
Feb 24, 2025	$0.28
Nov 12, 2024	$0.28

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	319M	12M	737M	706M	693M	675M	574M
Receivables	1.5B	1B	1.4B	1.5B	1.7B	1.4B	1.3B
Inventory	1.1B	913M	915M	1B	1.3B	1.3B	1.4B
Total current assets	4B	3.6B	3.8B	3.9B	4.5B	4.3B	4.4B
Property, plant & equipment	298M	337M	306M	324M	462M	447M	453M
Goodwill & intangibles	10.3B	10.2B	10.5B	10.5B	10.3B	12.2B	10.6B
Total assets	10.5B	10.1B	10.7B	11B	12.1B	13.1B	12.9B
Accounts payable	258M	259M	1.4B	1.1B	1.3B	1.2B	952M
Short-term debt	34M	1.3B	9M	8M	9M	20M	16M
Total current liabilities	1.3B	2.7B	2.6B	2.5B	2.9B	2.7B	2.4B
Long-term debt	70M	—	9.1B	8.9B	8.8B	8.9B	8.6B
Total liabilities	3.5B	4.6B	12.2B	11.8B	12.1B	12.6B	12.1B
Shareholders' equity	7B	5.5B	-1.5B	-892M	-70M	472M	752M
Total debt	104M	1.3B	9.1B	8.9B	8.8B	8.9B	8.6B
Net debt	-215M	1.3B	8.4B	8.2B	8.1B	8.2B	8.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	414M	693M	575M	704M	763M	675M	547M	599M	672M	574M	1.1B	1.1B
Receivables	1.6B	1.7B	1.5B	1.6B	1.7B	1.4B	1.5B	1.5B	1.5B	1.3B	1.4B	1.5B
Inventory	1.2B	1.3B	1.3B	1.3B	1.4B	1.3B	1.4B	1.5B	1.5B	1.4B	1.4B	1.4B
Total current assets	4B	4.5B	4.2B	4.5B	4.8B	4.3B	4.4B	4.6B	4.7B	4.4B	4.9B	5.1B
Property, plant & equipment	—	462M	—	—	—	447M	—	—	—	453M	—	—
Goodwill & intangibles	10.3B	10.3B	10.6B	10.6B	10.7B	12.2B	12.2B	12.1B	12B	10.6B	10.5B	10.5B
Total assets	11B	12.1B	11.9B	12.2B	12.8B	13.1B	13.2B	13.5B	13.6B	12.9B	13B	13.2B
Accounts payable	1.1B	1.3B	955M	1.2B	1.1B	1.2B	1B	1.1B	1.1B	952M	983M	1.1B
Short-term debt	8M	9M	9M	9M	10M	20M	20M	115M	45M	16M	16M	74M
Total current liabilities	2.5B	2.9B	2.5B	2.8B	2.8B	2.7B	2.6B	2.8B	2.7B	2.4B	2.5B	2.6B
Long-term debt	8.6B	8.8B	8.7B	8.6B	8.7B	8.9B	8.9B	8.8B	8.8B	8.6B	8.6B	8.5B
Total liabilities	11.6B	12.1B	11.8B	12B	12.3B	12.6B	12.6B	12.8B	12.6B	12.1B	12.1B	12.2B
Shareholders' equity	-589M	-70M	48M	144M	493M	472M	542M	733M	906M	752M	903M	1B
Total debt	8.7B	8.8B	8.7B	8.7B	8.7B	8.9B	9B	8.9B	8.8B	8.6B	8.6B	8.6B
Net debt	8.2B	8.1B	8.1B	8B	8B	8.2B	8.4B	8.3B	8.2B	8.1B	7.5B	7.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	2.2B	3.3B	2.3B	1.4B	917M	1B	864M	187M
Depreciation & amortization	1.7B	333M	142M	195M	212M	236M	277M	361M
Stock-based compensation	56M	41M	40M	59M	75M	101M	105M	77M
Change in working capital	162M	4M	-11M	492M	-631M	-273M	-112M	-44M
Operating cash flow	4.1B	3.7B	2.4B	1.9B	688M	641M	1.1B	700M
Capital expenditure	32M	4M	5M	7M	7M	1M	4M	-162M
Investing cash flow	32M	4M	5M	7M	7M	1M	-162M	-237M
Dividends paid	—	0	0	-145M	-290M	-294M	-297M	-88M
Share repurchases	—	—	—	—	—	—	—	—
Financing cash flow	-4.2B	-2.9B	-2B	-2.5B	-433M	-569M	-368M	-561M
Net change in cash	-41M	768M	378M	-557M	262M	73M	577M	-98M
Free cash flow	3.6B	2.7B	1.9B	2B	431M	538M	588M	384M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	58M	546M	201M	195M	359M	109M	87M	145M	160M	-205M	146M	108M
Depreciation & amortization	61M	60M	65M	66M	69M	77M	84M	89M	92M	96M	86M	80M
Stock-based compensation	27M	27M	26M	28M	25M	26M	24M	22M	24M	7M	19M	25M
Change in working capital	-77M	120M	-202M	69M	-253M	274M	-202M	29M	-24M	153M	-49M	-112M
Operating cash flow	89M	271M	115M	403M	59M	530M	13M	331M	264M	141M	225M	107M
Capital expenditure	0	0	—	—	1M	2M	—	—	-46M	-45M	-37M	-42M
Investing cash flow	0	0	—	—	1M	2M	-75M	0	-46M	-45M	396M	-42M
Dividends paid	-74M	-73M	-70M	-79M	-74M	-74M	-71M	-10M	-3M	-4M	-5M	-6M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-78M	-77M	-74M	-1.2B	-78M	-82M	-75M	-223M	-76M	-187M	-38M	-12M
Net change in cash	11M	194M	41M	-767M	-18M	450M	-137M	108M	142M	-91M	583M	53M
Free cash flow	206M	316M	-20M	285M	65M	258M	-22M	181M	149M	76M	178M	31M

Organon & Co. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement