OGN

MKT CAP:$3B

Organon & Co.

Market Cap

$3B

Healthcare·Drug Manufacturers - General·🇺🇸 United States·NYSE

Healthcare·Drug Mfg.·🇺🇸·NYSE

Stock Price

$11.26+$4.02 (+55.52%)

Apr 24, 2026

Company Details

Organon & 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, ...

CEO

Joseph T. Morrissey Jr.

IPO Date

May 14, 2021

Website

www.organon.com

Key Metrics TTM

Revenue

$6.2B

-2.9% YoY

Net Income

$187M

EPS (Diluted)

$0.71

Free Cash Flow

$404M

Revenue / Share

$23.89

Gross Margin

53.6%

Operating Margin

20.0%

Net Margin

3.0%

FCF Margin

6.5%

P/S

0.5x

P/E

15.5x

Earnings Reports

Q1 2026

May 7, 2026

PENDING

FY 2025

Feb 24, 2026

$6.2B-2.9%EPS $0.72

Q4 2025

Feb 24, 2026

$1.5B-5.3%EPS -$0.79

Q3 2025

Nov 10, 2025

$1.6B+1.3%EPS $0.61

Q2 2025

Aug 6, 2025

$1.6B-0.8%EPS $0.56

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$1.6B	$1.0B	$539M
Q2 22	$1.6B	$997M	$468M
Q3 22	$1.5B	$986M	$419M
Q4 22	$1.5B	$900M	$290M
Q1 23	$1.5B	$958M	$394M
Q2 23	$1.6B	$968M	$389M
Q3 23	$1.5B	$907M	$232M
Q4 23	$1.6B	$915M	$312M
Q1 24	$1.6B	$957M	$414M
Q2 24	$1.6B	$939M	$386M
Q3 24	$1.6B	$923M	$390M
Q4 24	$1.6B	$896M	$296M
Q1 25	$1.5B	$841M	$325M
Q2 25	$1.6B	$874M	$326M
Q3 25	$1.6B	$857M	$358M
Q4 25	$1.5B	$759M	$235M

Valuation

Quarter	P/S	P/E
Q1 22	0.5x	2.0x
Q2 22	0.5x	2.6x
Q3 22	0.5x	2.9x
Q4 22	0.5x	3.2x
Q1 23	0.5x	3.9x
Q2 23	0.5x	3.8x
Q3 23	0.5x	4.9x
Q4 23	0.5x	2.8x
Q1 24	0.5x	2.8x
Q2 24	0.5x	2.9x
Q3 24	0.5x	2.2x
Q4 24	0.5x	3.4x
Q1 25	0.5x	3.9x
Q2 25	0.5x	4.1x
Q3 25	0.5x	5.8x
Q4 25	0.5x	15.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$123M	$60M
Q2 22	$151M	$106M
Q3 22	$317M	$102M
Q4 22	$267M	$202M
Q1 23	$114M	$60M
Q2 23	$27M	-$44M
Q3 23	$261M	$206M
Q4 23	$397M	$316M
Q1 24	$76M	-$20M
Q2 24	$332M	$300M
Q3 24	$141M	$65M
Q4 24	$390M	$258M
Q1 25	$75M	-$22M
Q2 25	$220M	$181M
Q3 25	$264M	$149M
Q4 25	$141M	$96M

Capital Expenditures

Quarter	CapEx
Q1 22	$63M
Q2 22	$45M
Q3 22	$215M
Q4 22	$65M
Q1 23	$54M
Q2 23	$71M
Q3 23	$55M
Q4 23	$81M
Q1 24	$96M
Q2 24	$32M
Q3 24	$76M
Q4 24	$132M
Q1 25	$97M
Q2 25	$39M
Q3 25	$115M
Q4 25	$45M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+2.7%	+29.3%
Q2 22	-1.7%	+22.7%
Q3 22	-3.9%	+0.9%
Q4 22	-7.4%	+0.8%
Q1 23	-1.9%	+11.3%
Q2 23	+1.5%	+9.1%
Q3 23	-1.2%	+15.1%
Q4 23	+7.6%	+7.6%
Q1 24	+5.5%	+5.6%
Q2 24	-0.1%	+0.2%
Q3 24	+4.1%	-7.4%
Q4 24	-0.4%	+0.8%
Q1 25	-6.7%	-1.7%
Q2 25	-0.8%	+3.8%
Q3 25	+1.3%	+4.4%
Q4 25	-5.3%	-1.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$15M	1.0%
Q2 22	$19M	1.2%
Q3 22	$18M	1.2%
Q4 22	$23M	1.5%
Q1 23	$22M	1.4%
Q2 23	$25M	1.6%
Q3 23	$27M	1.8%
Q4 23	$27M	1.7%
Q1 24	$26M	1.6%
Q2 24	$28M	1.7%
Q3 24	$25M	1.6%
Q4 24	$26M	1.6%
Q1 25	$24M	1.6%
Q2 25	$22M	1.4%
Q3 25	$24M	1.5%
Q4 25	$7M	0.5%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$96M	—	—	$371M
Q2 22	$106M	—	—	$423M
Q3 22	$127M	—	—	$440M
Q4 22	$142M	$213M	$255M	—
Q1 23	$129M	—	—	$435M
Q2 23	$128M	—	—	$451M
Q3 23	$137M	—	—	$538M
Q4 23	$134M	—	—	$469M
Q1 24	$112M	—	—	$431M
Q2 24	$116M	—	—	$437M
Q3 24	$111M	—	—	$422M
Q4 24	$130M	$262M	$206M	—
Q1 25	$96M	—	—	$420M
Q2 25	$95M	—	—	$453M
Q3 25	$84M	—	—	$415M
Q4 25	$91M	—	—	$433M

Revenue by Geography

Quarter	Asia Pacific and Japan	China	Europe and Canada	Latin America, Middle East, Russia and Africa	Other Countries	United States	Europe And Canada	Latin America, Middle East, Russia And Africa
Q3 23	$284M	$202M	$392M	$239M	$32M	$370M	—	—
Q1 24	$287M	$206M	$450M	$274M	$34M	$371M	—	—
Q2 24	$260M	$216M	—	—	$35M	$388M	$457M	$251M
Q3 24	$260M	$212M	—	—	$33M	$398M	$436M	$243M
Q1 25	$251M	$204M	—	—	$30M	$412M	$376M	$240M
Q2 25	$250M	$204M	—	—	$22M	$414M	$419M	$285M
Q3 25	$251M	$219M	—	—	$23M	$406M	$417M	$286M
Q4 25	$248M	$202M	—	—	$18M	$372M	$406M	$261M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$694M	$0	$694M
Q2 22	$545M	$0	$545M
Q3 22	$499M	$0	$499M
Q4 22	$706M	$0	$706M
Q1 23	$459M	$0	$459M
Q2 23	$326M	$0	$326M
Q3 23	$414M	$0	$414M
Q4 23	$693M	$0	$693M
Q1 24	$575M	$0	$575M
Q2 24	$704M	$0	$704M
Q3 24	$763M	$0	$763M
Q4 24	$675M	$0	$675M
Q1 25	$547M	$0	$547M
Q2 25	$599M	$0	$599M
Q3 25	$672M	$0	$672M
Q4 25	$574M	$0	$574M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	255M	+0.2%	+0.8%
Q2 22	255M	+0.0%	+0.8%
Q3 22	255M	-0.0%	+0.4%
Q4 22	255M	+0.1%	+0.3%
Q1 23	256M	+0.3%	+0.4%
Q2 23	256M	-0.1%	+0.3%
Q3 23	256M	+0.2%	+0.5%
Q4 23	257M	+0.1%	+0.5%
Q1 24	258M	+0.7%	+0.9%
Q2 24	259M	+0.1%	+1.0%
Q3 24	260M	+0.4%	+1.3%
Q4 24	260M	+0.0%	+1.3%
Q1 25	261M	+0.4%	+1.0%
Q2 25	260M	-0.3%	+0.6%
Q3 25	261M	+0.2%	+0.3%
Q4 25	260M	-0.2%	+0.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$388.8K	4K
Q2 22	$393.3K	4K
Q3 22	$381.4K	4K
Q4 22	$385.7K	4K
Q1 23	$399.5K	4K
Q2 23	$417.7K	4K
Q3 23	$394.5K	4K
Q4 23	$399.5K	4K
Q1 24	$405.5K	4K
Q2 24	$401.8K	4K
Q3 24	$395.5K	4K
Q4 24	$159.2K	10K
Q1 25	$151.3K	10K
Q2 25	$159.4K	10K
Q3 25	$160.2K	10K
Q4 25	$150.7K	10K

Revenue / Employee