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OGN

Organon & Co.

OGN

Organon & Co. • NYSE
$7.71 ▼ -0.39% (-0.03)
Market Cap $2.00 B
52w High $17.23
52w Low $6.18
Dividend Yield 0.34%
P/E 4.04
Volume 1.95M
Outstanding Shares 259.96M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.602B ▲ $499M ▼ $160M ▲ 9.988% ▲ $0.62 ▲ $460M ▲
Q2-2025 $1.594B ▲ $548M ▲ $145M ▲ 9.097% ▲ $0.56 ▲ $449M ▲
Q1-2025 $1.513B ▼ $516M ▼ $87M ▼ 5.75% ▼ $0.34 ▼ $325M ▼
Q4-2024 $1.592B ▲ $600M ▲ $109M ▼ 6.847% ▼ $0.42 ▼ $341M ▼
Q3-2024 $1.582B $533M $359M 22.693% $1.39 $402M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $672M ▲ $13.552B ▲ $12.646B ▼ $906M ▲
Q2-2025 $599M ▲ $13.5B ▲ $12.767B ▲ $733M ▲
Q1-2025 $547M ▼ $13.156B ▲ $12.614B ▼ $542M ▲
Q4-2024 $675M ▼ $13.101B ▲ $12.629B ▲ $472M ▼
Q3-2024 $763M $12.752B $12.259B $493M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $160M ▲ $264M ▲ $-115M ▼ $-76M ▲ $73M ▲ $149M ▼
Q2-2025 $145M ▲ $220M ▲ $-38M ▲ $-223M ▼ $52M ▲ $181M ▲
Q1-2025 $87M ▼ $75M ▼ $-172M ▲ $-75M ▲ $-128M ▼ $-22M ▼
Q4-2024 $109M ▼ $390M ▲ $-296M ▼ $-82M ▼ $-88M ▼ $258M ▲
Q3-2024 $359M $141M $-75M $-78M $59M $65M

Five-Year Company Overview

Income Statement

Income Statement Organon’s sales have been fairly steady since the spin-off, with only modest growth overall. Profitability remains solid, but earnings have drifted down from the early post-spin peak, suggesting some pressure on margins or higher costs over time. The business clearly makes money, yet it has not shown strong, consistent growth in either revenue or net income so far. This paints a picture of a mature, cash-generating portfolio that is more stable than dynamic at this stage.

Balance Sheet

Balance Sheet The balance sheet is dominated by debt taken on at the time of the spin-off. While total assets have grown gradually and shareholder equity has finally moved from negative to slightly positive, leverage is still high and leaves only a thin cushion for absorbing shocks. Cash on hand is steady but not especially large compared with total obligations. Overall, the company looks financially sturdy enough to operate, but clearly constrained by a heavy debt load that limits balance sheet flexibility.

Cash Flow

Cash Flow The company continues to generate positive cash flow from its operations, which is a key strength. However, cash generation is noticeably lower than the strong levels seen right after the spin-off. Free cash flow remains positive even after investment in new assets, which helps support debt service and selective growth initiatives. The pattern suggests a business that reliably produces cash, but with less excess cash available for aggressive expansion or rapid debt reduction.

Competitive Edge

Competitive Edge Organon occupies a defensible niche in women’s health, an area many large pharma companies have underemphasized. Flagship products like its long-acting contraceptive, protected by patents into the next decade, provide a strong anchor. The company also benefits from a large base of established brands and a global commercial footprint that reaches many markets. At the same time, it faces the usual pharma challenges: generic competition for older drugs, pricing pressure, and dependence on a limited number of major products to carry much of the load.

Innovation and R&D

Innovation and R&D Innovation is focused rather than broad. Organon targets specific unmet needs in women’s health, such as new contraceptive approaches, endometriosis treatment, and devices for childbirth and gynecologic surgery. It supplements internal research with acquisitions and partnerships, particularly in women’s health and biosimilars. This strategy keeps R&D targeted and capital-light but also means the future pipeline depends heavily on successful deal-making and clinical execution. The pipeline has promising components, but is smaller and more concentrated than that of large diversified drug makers, so individual project outcomes matter a lot.

Summary

Organon is a spin-off pharma company built around a stable, cash-generating portfolio and a clear strategic focus on women’s health and biosimilars. Financially, it is profitable with positive free cash flow, but burdened by substantial debt and only modest growth to date. Its niche focus, flagship contraceptive franchise, and global reach give it a recognizable position in an underserved market, while a targeted pipeline and device acquisitions offer potential for future growth. The main balancing act for the company is using its steady cash flows to manage high leverage and fund innovation, all while navigating patent expirations, competition, and regulatory risks common to the pharmaceutical industry.

NEWS

November 25, 2025 · 7:30 AM UTC

Organon To Present at the Piper Sandler 37th Annual Healthcare Conference

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November 25, 2025 · 7:30 AM UTC

Orogen Posts Profitable Financial Results and Cash Flow Strength in Q3-2025

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November 17, 2025 · 5:30 AM UTC

Henlius and Organon Announce US FDA Approval of POHERDY® (pertuzumab-dpzb), the First PERJETA (pertuzumab) Biosimilar in the US

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November 10, 2025 · 7:30 AM UTC

Organon Reports Results for the Third Quarter Ended September 30, 2025

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November 7, 2025 · 7:30 AM UTC

Organon Announces Agreement to Divest its JADA® System for Up to $465 Million to Laborie

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