Organon & Co. OGN

Health CarePharmaceuticalsUnited States of America

Last close 13.84 USD on Nov 1, 2026, +94.1% year to date

Quant rating

Quant rating B Rank 193 of 565 in Health Care

Growth B 214 of 565
Valuation A 54 of 565
Quality D 398 of 565
Revisions B 109 of 565
Momentum B 217 of 565

Wall Street consensus Hold (3.17)Average target 11.25 USD −18.7%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 3.6B
Enterprise value: 11.1B
52-week range: 5.70 – 13.84
3-year range: 5.70 – 23.03
Dividend yield: 0.58%
Beta (5 years): 1.53
Shares outstanding: 263M
Next earnings: Nov 9, 2026

About the company

Organon & Co. is a global healthcare company. The Company is engaged in developing and delivering health solutions through a portfolio of prescription therapies and medical devices within women's health, biosimilars and a franchise of established medicines across a range of therapeutic areas. It has a portfolio of approximately 70 medicines and products across a range of therapeutic areas. It has a portfolio of contraception and fertility brands, including Nexplanon, NuvaRing, and Follistim AQ. Its Biosimilars portfolio spans across immunology and oncology treatments. It also has a portfolio of established brands, including brands in cardiovascular, dermatology and non-opioid pain management. It sells these products through various channels, including drug wholesalers and retailers, hospitals, government agencies and managed health care providers, such as pharmacy benefit managers and other institutions.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	6,216	6,403	6,263	6,174	6,304	–
Revenue growth	−2.9%	2.2%	1.4%	−2.1%	−3.5%	−1.0%
EPS (basic, normalized)	3.66	4.11	4.14	5.03	6.54	–
EPS growth	−10.9%	−0.7%	−17.7%	−23.1%	–	–
Gross margin	53.3%	58.0%	59.8%	63.7%	62.3%	59.4%
Net margin	3.0%	13.5%	16.3%	14.9%	21.4%	13.8%
ROE	30.6%	429.9%	–	–	67.9%	176.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	1,455
Current ratio	1.95x
Long-term debt (mil)	8,479
Net debt (mil)	7,421
Total equity (mil)	1,193
Net debt / equity	6.22x
Net debt / EBITDA	3.89x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	6,216	−2.9%	1.8x	1,907	−4.5%	5.8x	3.66	−10.9%	3.8x
2026	6,168	−0.8%	1.8x	1,820	−4.5%	6.1x	3.45	−5.7%	4.0x
2027	6,353	+3.0%	1.7x	1,888	+3.7%	5.9x	3.67	+6.4%	3.8x
2028	6,678	+5.1%	1.7x	1,991	+5.4%	5.6x	4.01	+9.2%	3.5x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	6,168	+0.4%	+0.4%	+0.2%	3.45	+1.0%	+0.3%	0.0%
2027	6,353	+1.7%	+1.9%	+1.7%	3.67	+0.9%	+0.3%	−0.4%
2028	6,678	+6.0%	+6.4%	+6.2%	4.01	+4.9%	+1.7%	+1.1%

Earnings surprises EPS beat in 1 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,622	1,607	1,582	1,592	1,513	1,594	1,602	1,507	1,460	1,558
Sales mean (mil)	1,570	1,631	1,561	1,594	1,508	1,552	1,575	1,539	1,484	1,566
Surprise	+3.3%	−1.5%	+1.3%	−0.1%	+0.3%	+2.7%	+1.7%	−2.1%	−1.6%	−0.5%
EPS reported	1.22	1.12	0.87	0.90	1.02	1.00	1.01	0.63	0.71	0.85
EPS mean	0.97	1.08	0.90	0.87	0.90	0.95	0.94	0.73	0.83	0.92
Surprise	+25.7%	+4.1%	−3.7%	+3.9%	+13.6%	+5.5%	+7.9%	−13.4%	−14.4%	−7.4%

Peer comparison Pharmaceuticals

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
OGN Organon & Co.	3.6B	3.89x	3.0%	3.61x	4.0x	3.8x	6.1x	5.9x
ABBV AbbVie Inc.	521.1B	2.63x	6.8%	−87.80x	21.1x	18.3x	18.0x	15.7x
PROCF Sofgen Pharma SA	58M	–	−18.3%	–	–	–	–	–
Mean		3.26x	−2.8%	−42.09x	12.6x	11.0x	12.0x	10.8x
Median		3.26x	3.0%	−42.09x	12.6x	11.0x	12.0x	10.8x

Technical analysis

1M+0.8%
3M+2.5%
1Y+109.5%
3Y+3.9%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Organon & Co., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	6,216	6,403	6,263	6,174	6,304	6,532
Cost of revenue	2,903	2,688	2,515	2,244	2,375	2,119
Gross profit	3,313	3,715	3,748	3,930	3,929	4,413
Selling, general & administrative expenses	1,721	1,760	1,893	1,704	1,663	1,356
Research & development	366	469	528	471	368	210
Interest expense (income), operating	518	546	569	433	262	44.0
Unusual expense (income)	402	112	70.0	185	90.0	60.0
Other operating expenses	−119	21.0	15.0	15.0	17.0	−9.0
Operating income	425	807	673	1,122	1,529	2,752
Net interest income (expense)	–	–	–	–	–	–
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	425	807	673	1,122	1,529	2,752
Provision for taxes	238	−57.0	−350	205	178	496
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	187	864	1,023	917	1,351	2,256
Extraordinary items	–	–	0	0	0	−96.0
Net income	187	864	1,023	917	1,351	2,160
EBIT, normalized	1,345	1,465	1,312	1,740	1,881	2,856
EBITDA, normalized	1,706	1,742	1,548	1,952	2,076	2,998
Basic EPS, normalized	3.66	4.11	4.14	5.03	6.54	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Organon & Co., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	574	675	693	706	737	12.0
Receivables	1,433	1,461	1,857	1,585	1,497	1,353
Total inventory	1,406	1,321	1,315	1,003	915	913
Prepaid expenses	–	–	–	–	–	–
Other current assets	939	891	643	637	611	1,289
Total current assets	4,352	4,348	4,508	3,931	3,760	3,567
Property, plant & equipment	1,458	1,325	1,356	1,233	1,203	1,015
Goodwill	4,153	4,680	4,603	4,603	4,603	4,603
Intangibles	1,130	1,414	533	649	651	503
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	1,774	1,334	1,058	539	464	421
Total assets	12,867	13,101	12,058	10,955	10,681	10,109
Liabilities
Accounts payable	952	1,153	1,314	1,132	1,382	259
Payable/accrued	–	–	–	–	–	–
Accrued expenses	1,335	1,411	1,389	1,188	1,021	659
Short-term debt	0	0	0	0	0	1,339
Current portion of long-term debt	16.0	20.0	9.0	8.0	9.0	0
Other current liabilities	87.0	134	206	184	185	416
Total current liabilities	2,390	2,718	2,918	2,512	2,597	2,673
Long-term debt	8,628	8,860	8,751	8,905	9,125	0
Minority interest	–	–	–	–	–	–
Other liabilities	1,097	1,051	459	430	467	1,950
Total liabilities	12,115	12,629	12,128	11,847	12,189	4,623
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	3.0	3.0	3.0	3.0	3.0	0
Additional paid-in capital	167	108	25.0	–	0	0
Retained earnings (accumulated deficit)	1,109	1,010	443	−331	−998	0
Treasury stock	–	–	–	–	–	–
Other equity	−527	−649	−541	−564	−513	5,486
Total equity	752	472	−70.0	−892	−1,508	5,486
Total liabilities & shareholders' equity	12,867	13,101	12,058	10,955	10,681	10,109

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Organon & Co., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	187	864	1,023	917	1,351	2,256
Depreciation, depletion & amortization	361	277	236	212	195	142
Deferred taxes	63.0	−160	−485	−18.0	−288	−32.0
Non-cash items	336	225	180	199	498	−62.0
Changes in working capital	−247	−267	−155	−452	702	−117
Cash from operations	700	939	799	858	2,458	2,187
Investing activities
Capital expenditures	−316	−351	−261	−427	−296	−255
Other investing cash flows	−74.0	−162	1.0	7.0	−185	−3.0
Cash from investing	−390	−513	−260	−420	−481	−258
Financing activities
Financing cash flow items	−15.0	−22.0	−17.0	−35.0	−8,916	−3,687
Cash dividends paid	−88.0	−297	−294	−290	−145	0
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−458	−49.0	−258	−108	7,728	1,512
Cash from financing	−561	−368	−569	−433	−1,333	−2,175
Foreign exchange effects	150	−76.0	17.0	−36.0	23.0	−3.0
Net change in cash	−101	−18.0	−13.0	−31.0	667	−249
Free cash flow	384	588	538	431	2,162	1,932

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.