Organon & Co. (OGN) 10-Year Financial Performance & Capital Metrics

OGN •

HealthcareLarge PharmaGenerics and biosimilars manufacturers

AboutOrganon & Co., a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive. The company's biosimilars portfolio consists of three immunology products, such as Brenzys, Renflexis, and Hadlima, as well as two oncology products, including Ontruzant and Aybintio. It also offers cardiovascular products, consisting of several cholesterol-modifying medicines under the Zetia, Ezetrol, Vytorin, Inegy, Rosuzet, and Zocor brands; Cozaar and Hyzaar for the treatment of hypertension; respiratory products for various treatments to control and prevent symptoms caused by asthma under the Singulair, Dulera, Zenhale, and Asmanex brand names; and Singulair, Nasonex, Clarinex, and Aerius for treating seasonal allergic rhinitis. In addition, the company provides dermatology products under the Diprosone and Elocon brand; bone health portfolio, including Fosamax brand name; non-opioid pain management products under the Arcoxia, Diprospan, and Celestone brand names; Proscar for the treatment of symptomatic benign prostatic hyperplasia; and Propecia for the treatment of male pattern hair loss. The company sells its products primarily to drug wholesalers and retailers, hospitals, and government agencies, as well as managed health care providers, such as health maintenance organizations, pharmacy benefit managers, and other institutions. Organon & Co. was incorporated in 2020 and is based in Jersey City, New Jersey.Show more

Revenue $6.22B -2.9%
EBITDA $1.64B -7.1%
Net Income $187M -78.4%
EPS (Diluted) 0.72 -78.4%
Gross Margin 54.09% -6.8%
EBITDA Margin 26.36% -4.3%
Operating Margin 20.67% -10.9%
Net Margin 3.01% -77.7%
ROE 27.14% -93.7%
ROIC 19.79% +51.0%
Debt/Equity -
Interest Coverage 2.55 -10.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 228.5%
✓Healthy 5Y average net margin of 13.8%

✗Weaknesses

✗Profits declining 38.7% over 5 years
✗Weak Piotroski F-Score: 0/9
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-0.99%

3Y0.23%

TTM-2.92%

Profit (Net Income) CAGR

10Y-

5Y-38.7%

3Y-41.14%

TTM-78.36%

EPS CAGR

10Y-

5Y-38.99%

3Y-41.47%

TTM-78.68%

ROCE

10Y Avg25.28%

5Y Avg19.08%

3Y Avg16.7%

Latest19.79%

Peer Comparison

Generics and biosimilars manufacturers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NVSNovartis AG	321.75B	168.62	23.45	5.97%	24.9%	30.04%	5.5%	0.80
OGNOrganon & Co.	1.9B	7.29	10.13	-2.92%	3.01%	20.64%
SRXHSRx Health Solutions Inc.	8.71M	0.13	-0.19	28.4%	-9.36%		13.22%

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	9.78B	7.78B	6.53B	6.3B	6.17B	6.26B	6.4B	6.22B
Revenue Growth %	-	-20.46%	-16.01%	-3.49%	-2.06%	1.44%	2.24%	-2.92%
Cost of Goods Sold+	4.69B	2.27B	2.12B	2.38B	2.29B	2.52B	2.69B	2.85B
COGS % of Revenue	48%	29.24%	32.44%	37.79%	37.16%	40.16%	41.98%	45.91%
Gross Profit+	5.08B	5.5B	4.41B	3.92B	3.88B	3.75B	3.71B	3.36B
Gross Margin %	52%	70.76%	67.56%	62.21%	62.84%	59.84%	58.02%	54.09%
Gross Profit Growth %	-	8.24%	-19.81%	-11.13%	-1.07%	-3.4%	-0.88%	-9.5%
Operating Expenses+	2.38B	1.66B	1.57B	2.01B	2.17B	2.42B	2.23B	2.09B
OpEx % of Revenue	24.32%	21.38%	23.97%	31.84%	35.23%	38.66%	34.81%	33.57%
Selling, General & Admin	2.01B	1.44B	1.36B	1.67B	1.7B	1.89B	1.76B	1.71B
SG&A % of Revenue	20.59%	18.55%	20.76%	26.46%	27.6%	30.23%	27.49%	27.53%
Research & Development	365M	220M	210M	443M	471M	528M	469M	366M
R&D % of Revenue	3.73%	2.83%	3.21%	7.03%	7.63%	8.43%	7.32%	5.89%
Other Operating Expenses	0	0	0	-104M	0	0	0	10M
Operating Income+	2.71B	3.85B	2.85B	1.92B	1.71B	1.33B	1.49B	1.28B
Operating Margin %	27.68%	49.47%	43.59%	30.38%	27.62%	21.19%	23.21%	20.67%
Operating Income Growth %	-	42.17%	-25.99%	-32.74%	-10.97%	-22.17%	11.98%	-13.53%
EBITDA+	4.38B	4.2B	2.99B	2.11B	1.92B	1.56B	1.76B	1.64B
EBITDA Margin %	44.79%	54.02%	45.76%	33.47%	31.05%	24.96%	27.53%	26.36%
EBITDA Growth %	-	-4.06%	-28.85%	-29.41%	-9.15%	-18.47%	12.8%	-7.07%
D&A (Non-Cash Add-back)	1.67B	354M	142M	195M	212M	236M	277M	353.33M
EBIT	2.71B	3.56B	2.85B	1.79B	1.54B	1.2B	1.33B	1.28B
Net Interest Income+	0	13M	-6M	-258M	-422M	-527M	-520M	-504M
Interest Income	0	19M	0	0	0	0	0	0
Interest Expense	0	6M	6M	258M	422M	527M	520M	504M
Other Income/Expense	23M	-144M	-95M	-386M	-583M	-654M	-679M	-860M
Pretax Income+	2.73B	3.7B	2.75B	1.53B	1.12B	673M	807M	425M
Pretax Margin %	27.91%	47.52%	42.13%	24.25%	18.17%	10.75%	12.6%	6.84%
Income Tax+	576M	390M	496M	178M	205M	-350M	-57M	238M
Effective Tax Rate %	78.89%	87.07%	78.49%	88.36%	81.73%	152.01%	107.06%	44%
Net Income+	2.15B	3.22B	2.16B	1.35B	917M	1.02B	864M	187M
Net Margin %	22.02%	41.38%	33.07%	21.43%	14.85%	16.33%	13.49%	3.01%
Net Income Growth %	-	49.47%	-32.88%	-37.45%	-32.12%	11.56%	-15.54%	-78.36%
Net Income (Continuing)	2.15B	3.31B	2.26B	1.35B	917M	1.02B	864M	187M
Discontinued Operations	0	0	-96M	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)+	8.51	12.71	8.52	5.33	3.59	3.99	3.33	0.72
EPS Growth %	-	49.35%	-32.97%	-37.44%	-32.65%	11.14%	-16.54%	-78.38%
EPS (Basic)	8.51	12.71	8.52	5.33	3.61	4.01	3.36	0.72
Diluted Shares Outstanding	253.13M	253.13M	253.52M	253.55M	255.17M	256.27M	259.15M	260.76M
Basic Shares Outstanding	253.13M	253.13M	253.52M	253.55M	254.08M	255.24M	257.05M	259.5M
Dividend Payout Ratio	-	-	-	10.73%	31.62%	28.74%	34.38%	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	3.71B	3.96B	3.57B	3.76B	3.93B	4.51B	4.35B	0
Cash & Short-Term Investments	244M	319M	12M	737M	706M	693M	675M	672M
Cash Only	244M	319M	12M	737M	706M	693M	675M	0
Short-Term Investments	0	0	0	0	0	0	0	0
Accounts Receivable	1.59B	1.57B	1.41B	1.51B	1.61B	1.86B	1.49B	0
Days Sales Outstanding	59.47	73.83	78.51	87.54	94.94	108.22	84.99	-
Inventory	994M	1.07B	913M	915M	1B	1.31B	1.32B	0
Days Inventory Outstanding	77.31	171.91	157.27	140.21	159.59	190.84	179.38	-
Other Current Assets	883M	992M	1.24B	596M	616M	643M	861M	-672M
Total Non-Current Assets+	6.78B	6.59B	6.54B	6.92B	7.02B	7.55B	8.75B	0
Property, Plant & Equipment	651M	762M	1.01B	1.2B	1.23B	1.36B	1.32B	0
Fixed Asset Turnover	15.02x	10.21x	6.44x	5.24x	5.01x	4.62x	4.83x	-
Goodwill	4.6B	4.6B	4.6B	4.6B	4.6B	4.6B	4.68B	0
Intangible Assets	812M	569M	503M	651M	649M	533M	1.41B	0
Long-Term Investments	0	0	0	0	0	0	27M	0
Other Non-Current Assets	714M	659M	421M	464M	272M	250M	361M	0
Total Assets+	10.49B	10.55B	10.11B	10.68B	10.96B	12.06B	13.1B	0
Asset Turnover	0.93x	0.74x	0.65x	0.59x	0.56x	0.52x	0.49x	-
Asset Growth %	-	0.51%	-4.16%	5.66%	2.57%	10.07%	8.65%	-100%
Total Current Liabilities+	1.54B	1.34B	2.67B	2.6B	2.51B	2.92B	2.72B	0
Accounts Payable	289M	258M	259M	1.38B	1.13B	1.31B	1.15B	0
Days Payables Outstanding	22.48	41.41	44.61	211.77	180.11	190.7	156.56	-
Short-Term Debt	115M	48M	8M	55M	57M	55M	64M	0
Deferred Revenue (Current)	322M	0	0	0	0	0	0	0
Other Current Liabilities	6M	793M	2.12B	975M	1.14B	1.34B	1.37B	0
Current Ratio	2.40x	2.95x	1.33x	1.45x	1.56x	1.54x	1.60x	-
Quick Ratio	1.76x	2.15x	0.99x	1.10x	1.17x	1.09x	1.11x	-
Cash Conversion Cycle	114.3	204.32	191.16	15.98	74.42	108.37	107.81	-
Total Non-Current Liabilities+	2.6B	2.17B	1.95B	9.59B	9.34B	9.21B	9.91B	-906M
Long-Term Debt	34M	70M	0	9.13B	8.9B	8.75B	8.86B	0
Capital Lease Obligations	0	68M	23M	184M	150M	125M	112M	0
Deferred Tax Liabilities	149M	139M	128M	4M	19M	47M	74M	0
Other Non-Current Liabilities	2.57B	1.9B	1.8B	279M	261M	287M	865M	-906M
Total Liabilities	4.15B	3.51B	4.62B	12.19B	11.85B	12.13B	12.63B	-906M
Total Debt+	149M	186M	31M	9.36B	9.11B	8.93B	9.04B	0
Net Debt	-95M	-133M	19M	8.63B	8.41B	8.24B	8.36B	0
Debt / Equity	0.02x	0.03x	0.01x	-	-	-	19.14x	-
Debt / EBITDA	0.03x	0.04x	0.01x	4.44x	4.75x	5.71x	5.13x	-
Net Debt / EBITDA	-0.02x	-0.03x	0.01x	4.09x	4.38x	5.27x	4.74x	-
Interest Coverage	-	641.17x	474.50x	7.42x	4.04x	2.52x	2.86x	2.55x
Total Equity+	6.35B	7.04B	5.49B	-1.51B	-892M	-70M	472M	906M
Equity Growth %	-	10.82%	-22.02%	-127.49%	40.85%	92.15%	774.29%	91.95%
Book Value per Share	25.08	27.79	21.64	-5.95	-3.50	-0.27	1.82	3.47
Total Shareholders' Equity	6.35B	7.04B	5.49B	-1.51B	-892M	-70M	472M	906M
Common Stock	7.26B	7.95B	6.11B	3M	3M	3M	3M	0
Retained Earnings	0	0	0	-998M	-331M	443M	1.01B	0
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	-908M	-914M	-622M	-513M	-564M	-541M	-649M	906M
Minority Interest	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	3.69B	2.77B	2.19B	2.46B	858M	799M	939M	0
Operating CF Margin %	37.71%	35.58%	33.48%	38.99%	13.9%	12.76%	14.67%	-
Operating CF Growth %	-	-24.95%	-20.96%	12.39%	-65.09%	-6.88%	17.52%	-100%
Net Income	2.15B	3.31B	2.26B	1.35B	917M	1.02B	864M	187M
Depreciation & Amortization	1.67B	333M	142M	195M	212M	236M	277M	0
Stock-Based Compensation	56M	41M	40M	59M	75M	101M	105M	77M
Deferred Taxes	37M	12M	-32M	-288M	-18M	-485M	-160M	0
Other Non-Cash Items	-58M	-253M	-22M	439M	124M	79M	131M	-264M
Working Capital Changes	-174M	-672M	-197M	702M	-452M	-155M	-278M	0
Change in Receivables	250M	200M	159M	-277M	-123M	-212M	383M	0
Change in Inventory	44M	-91M	-29M	-138M	-220M	-230M	-131M	0
Change in Payables	20M	-35M	27M	663M	-237M	163M	-157M	0
Cash from Investing+	-69M	-102M	-258M	-481M	-420M	-260M	-513M	0
Capital Expenditures	-101M	-92M	-278M	-488M	-427M	-259M	-351M	0
CapEx % of Revenue	1.03%	1.18%	4.26%	7.74%	6.92%	4.14%	5.48%	-
Acquisitions	32M	7M	5M	-185M	-124M	-2M	-166M	0
Investments	-	-	-	-	-	-	-	-
Other Investing	32M	-17M	15M	192M	131M	1M	4M	0
Cash from Financing+	-4.16B	-2.62B	-2.17B	-1.33B	-433M	-569M	-368M	0
Debt Issued (Net)	59M	0	1.51B	7.85B	-108M	-258M	-11M	0
Equity Issued (Net)	0	0	0	0	-1000K	-1000K	-1000K	0
Dividends Paid	0	0	0	-145M	-290M	-294M	-297M	0
Share Repurchases	0	0	0	0	-11M	-17M	-22M	0
Other Financing	-4.22B	-2.62B	-3.69B	-9.03B	-24M	0	-38M	0
Net Change in Cash	-527M	75M	-249M	667M	-31M	-13M	-18M	-675M
Free Cash Flow+	3.59B	2.67B	1.91B	1.97B	431M	538M	588M	0
FCF Margin %	36.68%	34.4%	29.23%	31.25%	6.98%	8.59%	9.18%	-
FCF Growth %	-	-25.4%	-28.64%	3.2%	-78.12%	24.83%	9.29%	-100%
FCF per Share	14.17	10.57	7.53	7.77	1.69	2.10	2.27	-
FCF Conversion (FCF/Net Income)	1.71x	0.86x	1.01x	1.82x	0.94x	0.78x	1.09x	-
Interest Paid	0	0	0	0	0	495M	0	0
Taxes Paid	0	0	0	0	0	0	0	0

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	33.92%	48.09%	34.5%	67.92%	-	-	429.85%	27.14%
Return on Invested Capital (ROIC)	32.46%	43.87%	34.42%	22.75%	17.48%	12.69%	13.11%	19.79%
Gross Margin	52%	70.76%	67.56%	62.21%	62.84%	59.84%	58.02%	54.09%
Net Margin	22.02%	41.38%	33.07%	21.43%	14.85%	16.33%	13.49%	3.01%
Debt / Equity	0.02x	0.03x	0.01x	-	-	-	19.14x	-
Interest Coverage	-	641.17x	474.50x	7.42x	4.04x	2.52x	2.86x	2.55x
FCF Conversion	1.71x	0.86x	1.01x	1.82x	0.94x	0.78x	1.09x	-
Revenue Growth	-	-20.46%	-16.01%	-3.49%	-2.06%	1.44%	2.24%	-2.92%

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Organon & Co. (OGN) 10-Year Financial Performance & Capital Metrics

OGN •

HealthcareLarge PharmaGenerics and biosimilars manufacturers

Revenue $6.22B -2.9%
EBITDA $1.64B -7.1%
Net Income $187M -78.4%
EPS (Diluted) 0.72 -78.4%
Gross Margin 54.09% -6.8%
EBITDA Margin 26.36% -4.3%
Operating Margin 20.67% -10.9%
Net Margin 3.01% -77.7%
ROE 27.14% -93.7%
ROIC 19.79% +51.0%
Debt/Equity -
Interest Coverage 2.55 -10.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 228.5%
✓Healthy 5Y average net margin of 13.8%

✗Weaknesses

✗Profits declining 38.7% over 5 years
✗Weak Piotroski F-Score: 0/9
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y-0.99%

3Y0.23%

TTM-2.92%

Profit (Net Income) CAGR

10Y-

5Y-38.7%

3Y-41.14%

TTM-78.36%

EPS CAGR

10Y-

5Y-38.99%

3Y-41.47%

TTM-78.68%

ROCE

10Y Avg25.28%

5Y Avg19.08%

3Y Avg16.7%

Latest19.79%

Peer Comparison

Generics and biosimilars manufacturers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NVSNovartis AG	321.75B	168.62	23.45	5.97%	24.9%	30.04%	5.5%	0.80
OGNOrganon & Co.	1.9B	7.29	10.13	-2.92%	3.01%	20.64%
SRXHSRx Health Solutions Inc.	8.71M	0.13	-0.19	28.4%	-9.36%		13.22%

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	9.78B	7.78B	6.53B	6.3B	6.17B	6.26B	6.4B	6.22B
Revenue Growth %	-	-20.46%	-16.01%	-3.49%	-2.06%	1.44%	2.24%	-2.92%
Cost of Goods Sold+	4.69B	2.27B	2.12B	2.38B	2.29B	2.52B	2.69B	2.85B
COGS % of Revenue	48%	29.24%	32.44%	37.79%	37.16%	40.16%	41.98%	45.91%
Gross Profit+	5.08B	5.5B	4.41B	3.92B	3.88B	3.75B	3.71B	3.36B
Gross Margin %	52%	70.76%	67.56%	62.21%	62.84%	59.84%	58.02%	54.09%
Gross Profit Growth %	-	8.24%	-19.81%	-11.13%	-1.07%	-3.4%	-0.88%	-9.5%
Operating Expenses+	2.38B	1.66B	1.57B	2.01B	2.17B	2.42B	2.23B	2.09B
OpEx % of Revenue	24.32%	21.38%	23.97%	31.84%	35.23%	38.66%	34.81%	33.57%
Selling, General & Admin	2.01B	1.44B	1.36B	1.67B	1.7B	1.89B	1.76B	1.71B
SG&A % of Revenue	20.59%	18.55%	20.76%	26.46%	27.6%	30.23%	27.49%	27.53%
Research & Development	365M	220M	210M	443M	471M	528M	469M	366M
R&D % of Revenue	3.73%	2.83%	3.21%	7.03%	7.63%	8.43%	7.32%	5.89%
Other Operating Expenses	0	0	0	-104M	0	0	0	10M
Operating Income+	2.71B	3.85B	2.85B	1.92B	1.71B	1.33B	1.49B	1.28B
Operating Margin %	27.68%	49.47%	43.59%	30.38%	27.62%	21.19%	23.21%	20.67%
Operating Income Growth %	-	42.17%	-25.99%	-32.74%	-10.97%	-22.17%	11.98%	-13.53%
EBITDA+	4.38B	4.2B	2.99B	2.11B	1.92B	1.56B	1.76B	1.64B
EBITDA Margin %	44.79%	54.02%	45.76%	33.47%	31.05%	24.96%	27.53%	26.36%
EBITDA Growth %	-	-4.06%	-28.85%	-29.41%	-9.15%	-18.47%	12.8%	-7.07%
D&A (Non-Cash Add-back)	1.67B	354M	142M	195M	212M	236M	277M	353.33M
EBIT	2.71B	3.56B	2.85B	1.79B	1.54B	1.2B	1.33B	1.28B
Net Interest Income+	0	13M	-6M	-258M	-422M	-527M	-520M	-504M
Interest Income	0	19M	0	0	0	0	0	0
Interest Expense	0	6M	6M	258M	422M	527M	520M	504M
Other Income/Expense	23M	-144M	-95M	-386M	-583M	-654M	-679M	-860M
Pretax Income+	2.73B	3.7B	2.75B	1.53B	1.12B	673M	807M	425M
Pretax Margin %	27.91%	47.52%	42.13%	24.25%	18.17%	10.75%	12.6%	6.84%
Income Tax+	576M	390M	496M	178M	205M	-350M	-57M	238M
Effective Tax Rate %	78.89%	87.07%	78.49%	88.36%	81.73%	152.01%	107.06%	44%
Net Income+	2.15B	3.22B	2.16B	1.35B	917M	1.02B	864M	187M
Net Margin %	22.02%	41.38%	33.07%	21.43%	14.85%	16.33%	13.49%	3.01%
Net Income Growth %	-	49.47%	-32.88%	-37.45%	-32.12%	11.56%	-15.54%	-78.36%
Net Income (Continuing)	2.15B	3.31B	2.26B	1.35B	917M	1.02B	864M	187M
Discontinued Operations	0	0	-96M	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)+	8.51	12.71	8.52	5.33	3.59	3.99	3.33	0.72
EPS Growth %	-	49.35%	-32.97%	-37.44%	-32.65%	11.14%	-16.54%	-78.38%
EPS (Basic)	8.51	12.71	8.52	5.33	3.61	4.01	3.36	0.72
Diluted Shares Outstanding	253.13M	253.13M	253.52M	253.55M	255.17M	256.27M	259.15M	260.76M
Basic Shares Outstanding	253.13M	253.13M	253.52M	253.55M	254.08M	255.24M	257.05M	259.5M
Dividend Payout Ratio	-	-	-	10.73%	31.62%	28.74%	34.38%	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	3.71B	3.96B	3.57B	3.76B	3.93B	4.51B	4.35B	0
Cash & Short-Term Investments	244M	319M	12M	737M	706M	693M	675M	672M
Cash Only	244M	319M	12M	737M	706M	693M	675M	0
Short-Term Investments	0	0	0	0	0	0	0	0
Accounts Receivable	1.59B	1.57B	1.41B	1.51B	1.61B	1.86B	1.49B	0
Days Sales Outstanding	59.47	73.83	78.51	87.54	94.94	108.22	84.99	-
Inventory	994M	1.07B	913M	915M	1B	1.31B	1.32B	0
Days Inventory Outstanding	77.31	171.91	157.27	140.21	159.59	190.84	179.38	-
Other Current Assets	883M	992M	1.24B	596M	616M	643M	861M	-672M
Total Non-Current Assets+	6.78B	6.59B	6.54B	6.92B	7.02B	7.55B	8.75B	0
Property, Plant & Equipment	651M	762M	1.01B	1.2B	1.23B	1.36B	1.32B	0
Fixed Asset Turnover	15.02x	10.21x	6.44x	5.24x	5.01x	4.62x	4.83x	-
Goodwill	4.6B	4.6B	4.6B	4.6B	4.6B	4.6B	4.68B	0
Intangible Assets	812M	569M	503M	651M	649M	533M	1.41B	0
Long-Term Investments	0	0	0	0	0	0	27M	0
Other Non-Current Assets	714M	659M	421M	464M	272M	250M	361M	0
Total Assets+	10.49B	10.55B	10.11B	10.68B	10.96B	12.06B	13.1B	0
Asset Turnover	0.93x	0.74x	0.65x	0.59x	0.56x	0.52x	0.49x	-
Asset Growth %	-	0.51%	-4.16%	5.66%	2.57%	10.07%	8.65%	-100%
Total Current Liabilities+	1.54B	1.34B	2.67B	2.6B	2.51B	2.92B	2.72B	0
Accounts Payable	289M	258M	259M	1.38B	1.13B	1.31B	1.15B	0
Days Payables Outstanding	22.48	41.41	44.61	211.77	180.11	190.7	156.56	-
Short-Term Debt	115M	48M	8M	55M	57M	55M	64M	0
Deferred Revenue (Current)	322M	0	0	0	0	0	0	0
Other Current Liabilities	6M	793M	2.12B	975M	1.14B	1.34B	1.37B	0
Current Ratio	2.40x	2.95x	1.33x	1.45x	1.56x	1.54x	1.60x	-
Quick Ratio	1.76x	2.15x	0.99x	1.10x	1.17x	1.09x	1.11x	-
Cash Conversion Cycle	114.3	204.32	191.16	15.98	74.42	108.37	107.81	-
Total Non-Current Liabilities+	2.6B	2.17B	1.95B	9.59B	9.34B	9.21B	9.91B	-906M
Long-Term Debt	34M	70M	0	9.13B	8.9B	8.75B	8.86B	0
Capital Lease Obligations	0	68M	23M	184M	150M	125M	112M	0
Deferred Tax Liabilities	149M	139M	128M	4M	19M	47M	74M	0
Other Non-Current Liabilities	2.57B	1.9B	1.8B	279M	261M	287M	865M	-906M
Total Liabilities	4.15B	3.51B	4.62B	12.19B	11.85B	12.13B	12.63B	-906M
Total Debt+	149M	186M	31M	9.36B	9.11B	8.93B	9.04B	0
Net Debt	-95M	-133M	19M	8.63B	8.41B	8.24B	8.36B	0
Debt / Equity	0.02x	0.03x	0.01x	-	-	-	19.14x	-
Debt / EBITDA	0.03x	0.04x	0.01x	4.44x	4.75x	5.71x	5.13x	-
Net Debt / EBITDA	-0.02x	-0.03x	0.01x	4.09x	4.38x	5.27x	4.74x	-
Interest Coverage	-	641.17x	474.50x	7.42x	4.04x	2.52x	2.86x	2.55x
Total Equity+	6.35B	7.04B	5.49B	-1.51B	-892M	-70M	472M	906M
Equity Growth %	-	10.82%	-22.02%	-127.49%	40.85%	92.15%	774.29%	91.95%
Book Value per Share	25.08	27.79	21.64	-5.95	-3.50	-0.27	1.82	3.47
Total Shareholders' Equity	6.35B	7.04B	5.49B	-1.51B	-892M	-70M	472M	906M
Common Stock	7.26B	7.95B	6.11B	3M	3M	3M	3M	0
Retained Earnings	0	0	0	-998M	-331M	443M	1.01B	0
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	-908M	-914M	-622M	-513M	-564M	-541M	-649M	906M
Minority Interest	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	3.69B	2.77B	2.19B	2.46B	858M	799M	939M	0
Operating CF Margin %	37.71%	35.58%	33.48%	38.99%	13.9%	12.76%	14.67%	-
Operating CF Growth %	-	-24.95%	-20.96%	12.39%	-65.09%	-6.88%	17.52%	-100%
Net Income	2.15B	3.31B	2.26B	1.35B	917M	1.02B	864M	187M
Depreciation & Amortization	1.67B	333M	142M	195M	212M	236M	277M	0
Stock-Based Compensation	56M	41M	40M	59M	75M	101M	105M	77M
Deferred Taxes	37M	12M	-32M	-288M	-18M	-485M	-160M	0
Other Non-Cash Items	-58M	-253M	-22M	439M	124M	79M	131M	-264M
Working Capital Changes	-174M	-672M	-197M	702M	-452M	-155M	-278M	0
Change in Receivables	250M	200M	159M	-277M	-123M	-212M	383M	0
Change in Inventory	44M	-91M	-29M	-138M	-220M	-230M	-131M	0
Change in Payables	20M	-35M	27M	663M	-237M	163M	-157M	0
Cash from Investing+	-69M	-102M	-258M	-481M	-420M	-260M	-513M	0
Capital Expenditures	-101M	-92M	-278M	-488M	-427M	-259M	-351M	0
CapEx % of Revenue	1.03%	1.18%	4.26%	7.74%	6.92%	4.14%	5.48%	-
Acquisitions	32M	7M	5M	-185M	-124M	-2M	-166M	0
Investments	-	-	-	-	-	-	-	-
Other Investing	32M	-17M	15M	192M	131M	1M	4M	0
Cash from Financing+	-4.16B	-2.62B	-2.17B	-1.33B	-433M	-569M	-368M	0
Debt Issued (Net)	59M	0	1.51B	7.85B	-108M	-258M	-11M	0
Equity Issued (Net)	0	0	0	0	-1000K	-1000K	-1000K	0
Dividends Paid	0	0	0	-145M	-290M	-294M	-297M	0
Share Repurchases	0	0	0	0	-11M	-17M	-22M	0
Other Financing	-4.22B	-2.62B	-3.69B	-9.03B	-24M	0	-38M	0
Net Change in Cash	-527M	75M	-249M	667M	-31M	-13M	-18M	-675M
Free Cash Flow+	3.59B	2.67B	1.91B	1.97B	431M	538M	588M	0
FCF Margin %	36.68%	34.4%	29.23%	31.25%	6.98%	8.59%	9.18%	-
FCF Growth %	-	-25.4%	-28.64%	3.2%	-78.12%	24.83%	9.29%	-100%
FCF per Share	14.17	10.57	7.53	7.77	1.69	2.10	2.27	-
FCF Conversion (FCF/Net Income)	1.71x	0.86x	1.01x	1.82x	0.94x	0.78x	1.09x	-
Interest Paid	0	0	0	0	0	495M	0	0
Taxes Paid	0	0	0	0	0	0	0	0

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	33.92%	48.09%	34.5%	67.92%	-	-	429.85%	27.14%
Return on Invested Capital (ROIC)	32.46%	43.87%	34.42%	22.75%	17.48%	12.69%	13.11%	19.79%
Gross Margin	52%	70.76%	67.56%	62.21%	62.84%	59.84%	58.02%	54.09%
Net Margin	22.02%	41.38%	33.07%	21.43%	14.85%	16.33%	13.49%	3.01%
Debt / Equity	0.02x	0.03x	0.01x	-	-	-	19.14x	-
Interest Coverage	-	641.17x	474.50x	7.42x	4.04x	2.52x	2.86x	2.55x
FCF Conversion	1.71x	0.86x	1.01x	1.82x	0.94x	0.78x	1.09x	-
Revenue Growth	-	-20.46%	-16.01%	-3.49%	-2.06%	1.44%	2.24%	-2.92%

Organon & Co. (OGN) 10-Year Financial Performance & Capital Metrics

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Organon & Co. (OGN) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare OGN vs Peers

vs NVS

vs SRXH

Compare Top 3

Profit & Loss

Balance Sheet

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Deep Dive Analysis

Valuation Overview

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Dividend History

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Financial Ratios