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ORGANON & CO Financials

OGN
FY2025 annual
Revenue $6.2B -2.9% YoY
Net Income $187.0M -78.4% YoY
EPS (Diluted) $0.72 -78.4% YoY
Free Cash Flow $538.0M -29.6% YoY
Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE December

ORGANON & CO (OGN) reported $6.2B in revenue for fiscal year 2025, down 2.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI OGN FY2025

Stable revenue is being outweighed by margin compression, with cash flow carrying a still-leveraged balance sheet and softer earnings.

From FY2021 to FY2025, gross margin erosion from 62.2% to 53.3% suggests the economics of each sale worsened even though revenue stayed broadly flat. With interest expense still about $504M, free cash flow of $538M now matters more than accounting profit because debt service is absorbing much of what operations produce before equity holders see much benefit.

The balance sheet remains liability-heavy: total liabilities of $12.1B sit against only $752M of equity, so relatively small earnings changes can swing return measures and flexibility. The move from negative equity in earlier years to positive book equity improves the cushion, but leverage is still the defining structural feature rather than a side issue.

Short-term funding looks more comfortable, with a current ratio of 1.8x and capital spending of just $162M, which helps preserve cash. The sharp drop in dividends paid to $88M shows management protected liquidity rather than letting distributions consume a year of thinner earnings.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity CashFlow Returns 25 / 100
Financial Health Score 25/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of ORGANON & CO's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
0

Not available for ORGANON & CO, and counted as zero in the overall score.

Growth
30

ORGANON & CO's revenue declined 2.9% year-over-year, from $6.4B to $6.2B. This contraction results in a growth score of 30/100.

Leverage
4

ORGANON & CO has elevated debt relative to equity (D/E of 11.47), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 4/100, reflecting increased financial risk.

Liquidity
52

ORGANON & CO's current ratio of 1.82 indicates adequate short-term liquidity, earning a score of 52/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
66

ORGANON & CO converts 8.7% of revenue into free cash flow ($538.0M). This strong cash generation earns a score of 66/100.

Returns
0

Not available for ORGANON & CO, and counted as zero in the overall score.

Piotroski F-Score Neutral
5/9

ORGANON & CO passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
3.74x

For every $1 of reported earnings, ORGANON & CO generates $3.74 in operating cash flow ($700.0M OCF vs $187.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$6.2B
YoY-2.9%
5Y CAGR-1.0%

ORGANON & CO generated $6.2B in revenue in fiscal year 2025. This represents a decrease of 2.9% from the prior year.

Net Income
$187.0M
YoY-78.4%
5Y CAGR-38.7%

ORGANON & CO reported $187.0M in net income in fiscal year 2025. This represents a decrease of 78.4% from the prior year.

EPS (Diluted)
$0.72
YoY-78.4%
5Y CAGR-39.0%

ORGANON & CO earned $0.72 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 78.4% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow
$538.0M
YoY-29.6%
5Y CAGR-23.3%

ORGANON & CO generated $538.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 29.6% from the prior year.

Cash & Debt
$574.0M
YoY-15.0%
5Y CAGR+116.7%

ORGANON & CO held $574.0M in cash against $8.6B in long-term debt as of fiscal year 2025.

Dividends Per Share
$0.34
YoY-69.6%

ORGANON & CO paid $0.34 per share in dividends in fiscal year 2025. This represents a decrease of 69.6% from the prior year.

Shares Outstanding
260M
YoY+1.0%

ORGANON & CO had 260M shares outstanding in fiscal year 2025. This represents an increase of 1.0% from the prior year.

Margins & Returns

Gross Margin
53.3%
YoY-4.7pp
5Y CAGR-14.3pp

ORGANON & CO's gross margin was 53.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 4.7 percentage points from the prior year.

Net Margin
3.0%
YoY-10.5pp
5Y CAGR-30.1pp

ORGANON & CO's net profit margin was 3.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 10.5 percentage points from the prior year.

Return on Equity
24.9%
YoY-158.2pp

ORGANON & CO's ROE was 24.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 158.2 percentage points from the prior year.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

R&D Spending
$366.0M
YoY-22.0%
5Y CAGR+11.8%

ORGANON & CO invested $366.0M in research and development in fiscal year 2025. This represents a decrease of 22.0% from the prior year.

Capital Expenditures
$162.0M
YoY-7.4%
5Y CAGR-8.7%

ORGANON & CO invested $162.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 7.4% from the prior year.

Share Buybacks

Not reported for fiscal year 2025.

OGN Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

OGN annual income statement
MetricTTMFY25FY24FY23FY22FY21FY20FY19
Revenue$6.1B$6.2B-2.9%$6.4B+2.2%$6.3B+1.4%$6.2B-2.1%$6.3B-3.5%$6.5B-16.0%$7.8B
Cost of Revenue$2.9B$2.9B+8.0%$2.7B+6.9%$2.5B+9.6%$2.3B-3.7%$2.4B+12.4%$2.1B-6.8%$2.3B
Gross Profit$3.2B$3.3B-10.8%$3.7B-0.9%$3.7B-3.4%$3.9B-1.1%$3.9B-11.1%$4.4B-19.8%$5.5B
R&D Expenses$358.0M$366.0M-22.0%$469.0M-11.2%$528.0M+12.1%$471.0M+6.3%$443.0M+111.0%$210.0M-4.5%$220.0M
SG&A Expenses$1.7B$1.7B-2.2%$1.8B-7.0%$1.9B+11.1%$1.7B+2.2%$1.7B+23.0%$1.4B-6.0%$1.4B
Interest Expense$468.0M$504.0M-3.1%$520.0M-1.3%$527.0M+24.9%$422.0M+63.6%$258.0M$0$0
Income Tax$282.0M$238.0M+517.5%-$57.0M+83.7%-$350.0M-270.7%$205.0M+15.2%$178.0M-64.1%$496.0M+27.2%$390.0M
Net Income$209.0M$187.0M-78.4%$864.0M-15.5%$1.0B+11.6%$917.0M-32.1%$1.4B-37.5%$2.2B-32.9%$3.2B
EPS (Diluted)$0.72-78.4%$3.33-16.5%$3.99+11.1%$3.59-32.4%$5.31-37.7%$8.52-32.9%$12.69

Not reported in any period shown, so not listed: Operating Income.

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

OGN Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

OGN annual balance sheet
MetricFY25FY24FY23FY22FY21FY20FY19
Total Assets$12.9B-1.8%$13.1B+8.6%$12.1B+10.1%$11.0B+2.6%$10.7B+5.7%$10.1BN/A
Current Assets$4.4B+0.1%$4.3B-3.5%$4.5B+14.7%$3.9B+4.5%$3.8B+5.4%$3.6BN/A
Cash & Equivalents$574.0M-15.0%$675.0M-2.6%$693.0M-1.8%$706.0M-4.2%$737.0M+6041.7%$12.0M$0
Inventory$1.4B+6.4%$1.3B+0.5%$1.3B+31.1%$1.0B+9.6%$915.0M+0.2%$913.0MN/A
Accounts Receivable$1.3B-2.0%$1.4B-22.1%$1.7B+18.2%$1.5B+6.7%$1.4B+33.1%$1.0BN/A
Goodwill$4.2B-11.3%$4.7B+1.7%$4.6B0.0%$4.6B0.0%$4.6B0.0%$4.6BN/A
Total Liabilities$12.1B-4.1%$12.6B+4.1%$12.1B+2.4%$11.8B-2.8%$12.2B+163.7%$4.6BN/A
Current Liabilities$2.4B-12.1%$2.7B-6.9%$2.9B+16.2%$2.5B-3.3%$2.6B-2.8%$2.7BN/A
Long-Term Debt$8.6B-2.6%$8.9B+1.2%$8.8B-1.7%$8.9B-2.4%$9.1B$0N/A
Total Equity$752.0M+59.3%$472.0M+774.3%-$70.0M+92.2%-$892.0M+40.8%-$1.5B-127.5%$5.5B-22.0%$7.0B
Retained Earnings$1.1B+9.8%$1.0B+128.0%$443.0M+233.8%-$331.0M+66.8%-$998.0M$0N/A

OGN Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

OGN annual cash flow statement
MetricTTMFY25FY24FY23FY22FY21FY20FY19
Operating Cash Flow$737.0M$700.0M-25.5%$939.0M+17.5%$799.0M-6.9%$858.0M-60.3%$2.2B-5.4%$2.3B-24.4%$3.0B
Capital Expenditures$170.0M$162.0M-7.4%$175.0M-30.3%$251.0M+28.1%$196.0M+2.1%$192.0M-24.7%$255.0M+177.2%$92.0M
Free Cash Flow$567.0M$538.0M-29.6%$764.0M+39.4%$548.0M-17.2%$662.0M-66.4%$2.0B-3.0%$2.0B-30.7%$2.9B
Investing Cash Flow$130.0M-$390.0M+24.0%-$513.0M-97.3%-$260.0M+38.1%-$420.0MN/AN/AN/A
Financing Cash Flow-$313.0M-$561.0M-52.4%-$368.0M+35.3%-$569.0M-31.4%-$433.0MN/AN/AN/A
Dividends Paid$18.0M$88.0M-70.4%$297.0M+1.0%$294.0M+1.4%$290.0M+100.0%$145.0M$0$0

Not reported in any period shown, so not listed: Share Buybacks.

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

OGN Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

OGN annual financial ratios
MetricFY25FY24FY23FY22FY21FY20FY19
Gross Margin53.3%-4.7pp58.0%-1.8pp59.8%-3.0pp62.8%+0.6pp62.2%-5.3pp67.6%-3.2pp70.8%
Net Margin3.0%-10.5pp13.5%-2.8pp16.3%+1.5pp14.8%-6.6pp21.4%-11.6pp33.1%-8.3pp41.4%
Return on Equity24.9%-158.2pp183.1%N/AN/AN/A39.4%-6.4pp45.7%
Return on Assets1.5%-5.1pp6.6%-1.9pp8.5%+0.1pp8.4%-4.3pp12.7%-8.7pp21.4%N/A
Current Ratio1.82+0.2x1.60+0.1x1.540.0x1.56+0.1x1.45+0.1x1.33N/A
Debt-to-Equity11.47-7.3x18.77N/AN/AN/A0.00N/A
FCF Margin8.7%-3.3pp11.9%+3.2pp8.8%-2.0pp10.7%-20.5pp31.2%+0.2pp31.1%-6.6pp37.6%

Not reported in any period shown, so not listed: Operating Margin.

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Frequently Asked Questions

What is ORGANON & CO's annual revenue?

ORGANON & CO (OGN) reported $6.2B in total revenue for fiscal year 2025. This represents a -2.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is ORGANON & CO's revenue growing?

ORGANON & CO (OGN) revenue declined by 2.9% year-over-year, from $6.4B to $6.2B in fiscal year 2025.

Is ORGANON & CO profitable?

Yes, ORGANON & CO (OGN) reported a net income of $187.0M in fiscal year 2025, with a net profit margin of 3.0%.

ORGANON & CO (OGN) reported diluted earnings per share of $0.72 for fiscal year 2025. This represents a -78.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

As of fiscal year 2025, ORGANON & CO (OGN) had $574.0M in cash and equivalents against $8.6B in long-term debt.

ORGANON & CO (OGN) had a gross margin of 53.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

ORGANON & CO (OGN) had a net profit margin of 3.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, ORGANON & CO (OGN) paid $0.34 per share in dividends during fiscal year 2025.

ORGANON & CO (OGN) has a return on equity of 24.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

ORGANON & CO (OGN) generated $538.0M in free cash flow during fiscal year 2025. This represents a -29.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

ORGANON & CO (OGN) generated $700.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

ORGANON & CO (OGN) had $12.9B in total assets as of fiscal year 2025, including both current and long-term assets.

ORGANON & CO (OGN) invested $162.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

ORGANON & CO (OGN) invested $366.0M in research and development during fiscal year 2025.

ORGANON & CO (OGN) had 260M shares outstanding as of fiscal year 2025.

ORGANON & CO (OGN) had a current ratio of 1.82 as of fiscal year 2025, which is generally considered healthy.

ORGANON & CO (OGN) had a debt-to-equity ratio of 11.47 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

ORGANON & CO (OGN) had a return on assets of 1.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

ORGANON & CO (OGN) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

ORGANON & CO (OGN) has an earnings quality ratio of 3.74x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

ORGANON & CO (OGN) scores 25 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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