OGN FY 2023 Earnings Report — Organon & Co. Revenue & Financial Results | Market Cap Arena

Organon & Co.OGN

FY 2023 Earnings

Reported February 26, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$6.3B	—	$6.2B	—	1.4%
Op. Income	$1.3B	—	$1.7B	—	-22.2%
Gross Margin	59.8%	—	62.8%	—	-3.0pp
Net Margin	16.3%	—	14.9%	—	1.5pp
EPS (Diluted)	$3.99	—	$3.59	—	11.1%
Free Cash Flow	$538M	—	$431M	—	24.8%

Revenue Flow

Item	Amount
REVENUE	$6.3B
Cost of Revenue	$2.5B
GROSS PROFIT	$3.7B
R&D Expenses	$528M
Selling & Marketing	$209M
General & Administrative	$1.7B
SG&A Expenses	$1.9B
Other Expenses	$0
Operating Expenses	$2.4B
Cost & Expenses	$4.9B
OPERATING INCOME	$1.3B
Interest Income	$0
Interest Expense	$527M
Other Income/Expenses	-$654M
INCOME BEFORE TAX	$673M
Income Tax Expense	-$350M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$236M
EBIT	$1.2B
EBITDA	$1.4B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$6.3B
Cost of Revenue	$2.5B
GROSS PROFIT	$3.7B
R&D Expenses	$528M
Selling & Marketing	$209M
General & Administrative	$1.7B
SG&A Expenses	$1.9B
Other Expenses	$0
Operating Expenses	$2.4B
Cost & Expenses	$4.9B
OPERATING INCOME	$1.3B
Interest Income	$0
Interest Expense	$527M
Other Income/Expenses	-$654M
INCOME BEFORE TAX	$673M
Income Tax Expense	-$350M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$236M
EBIT	$1.2B
EBITDA	$1.4B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$1.0B
Depreciation & Amortization	$236M
Stock-Based Compensation	$101M
Deferred Income Tax	-$485M
Other Non-Cash Items	$79M
Change in Working Capital	-$155M
OPERATING CASH FLOW	$799M
Capital Expenditure	-$261M
Acquisitions (Net)	-$2M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$1M
NET CASH FROM INVESTING	-$260M
Net Debt Issuance	-$258M
Common Stock Repurchased	-$17M
Common Dividends Paid	-$294M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$569M
FREE CASH FLOW	$538M
Net Change in Cash	-$13M

Balance Sheet

Item	Amount
Cash & Equivalents	$693M
Short-Term Investments	$0
Net Receivables	$1.9B
Inventory	$1.3B
Other Current Assets	$643M
TOTAL CURRENT ASSETS	$4.5B
PP&E (Net)	$1.4B
Goodwill	$4.6B
Intangible Assets	$533M
Long-Term Investments	$0
Tax Assets	$808M
Other Non-Current Assets	$250M
TOTAL NON-CURRENT ASSETS	$7.5B
TOTAL ASSETS	$12.1B
Account Payables	$1.3B
Short-Term Debt	$55M
Deferred Revenue	$0
Other Current Liabilities	$1.3B
TOTAL CURRENT LIABILITIES	$2.9B
Long-Term Debt	$8.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$47M
Other Non-Current Liabilities	$287M
TOTAL NON-CURRENT LIABILITIES	$9.2B
TOTAL LIABILITIES	$12.1B
Common Stock	$3M
Additional Paid-In Capital	$25M
Retained Earnings	$443M
Treasury Stock	$0
Accum. Other Comp. Income	-$541M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	-$70M
Minority Interest	$0
TOTAL EQUITY	-$70M
TOTAL LIABILITIES & EQUITY	$12.1B
Total Debt	$8.9B
Net Debt	$8.2B