What is Embecta's operating income?

Embecta's total operating income in 2025 was $242.10 million, based on the following breakdown: Total Gross Profit: $676.80 million Total Operating Expenses: $434.70 million

Embecta (EMBC) Financials

$5.69 0.00 (0.00%)

Closing price 09/3/2026 04:00 PM Eastern

Extended Trading

$5.71 +0.02 (+0.35%)

As of 04:02 AM Eastern

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Annual Income Statements for Embecta

This table shows Embecta's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Income / (Loss) Attributable to Common Shareholders	428	415	224	70	78	95
Consolidated Net Income / (Loss)	428	415	224	70	78	95
Net Income / (Loss) Continuing Operations	428	415	224	70	78	95
Total Pre-Tax Income	486	495	257	106	44	136
Total Operating Income	487	492	310	222	167	242
Total Gross Profit	763	800	775	750	735	677
Total Revenue	1,086	1,165	1,130	1,121	1,123	1,080
Operating Revenue	1,086	1,165	1,130	1,121	1,123	1,080
Total Cost of Revenue	323	365	355	371	388	404
Operating Cost of Revenue	323	365	355	371	388	404
Total Operating Expenses	276	308	465	528	568	435
Selling, General & Admin Expense	215	245	340	441	490	397
Research & Development Expense	61	63	67	85	79	37
Impairment Charge	0.00	0.00	59	2.50	0.00	0.00
Total Other Income / (Expense), net	-0.70	2.90	-53	-116	-123	-106
Interest & Investment Income	0.00	0.00	-46	-107	-112	-107
Other Income / (Expense), net	-	2.90	-6.80	-8.80	-10	1.50
Income Tax Expense	58	80	33	35	-34	41
Basic Earnings per Share	$7.50	$7.28	$3.92	$1.23	$1.36	$1.64
Weighted Average Basic Shares Outstanding	-	-	57.07M	57.33M	58.13M	58.51M
Diluted Earnings per Share	$7.50	$7.28	$3.89	$1.22	$1.34	$1.62
Weighted Average Diluted Shares Outstanding	-	-	57.07M	57.33M	58.13M	58.51M
Weighted Average Basic & Diluted Shares Outstanding	-	-	57.07M	57.33M	58.13M	58.51M
Cash Dividends to Common per Share	-	-	$0.15	$0.60	$0.60	$0.60

This table shows Embecta's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	20	29	15	15	0.00	24	46	26	44	-4.10	21
Consolidated Net Income / (Loss)	20	29	15	15	0.00	24	46	26	44	-4.10	21
Net Income / (Loss) Continuing Operations	20	29	15	15	0.00	24	46	26	44	-4.10	21
Total Pre-Tax Income	14	9.90	27	-7.00	-0.70	36	72	29	59	9.50	28
Total Operating Income	46	39	56	26	29	63	94	57	83	35	49
Total Gross Profit	186	185	190	174	157	164	197	159	162	128	153
Total Revenue	277	287	273	286	262	259	296	264	261	222	272
Operating Revenue	277	287	273	286	262	259	296	264	261	222	272
Total Cost of Revenue	91	102	82	112	105	95	98	106	100	94	118
Operating Cost of Revenue	91	102	82	112	105	95	98	106	100	94	118
Total Operating Expenses	140	146	134	148	128	101	103	102	78	93	105
Selling, General & Admin Expense	120	128	114	128	81	80	84	97	78	76	79
Research & Development Expense	20	18	20	20	20	8.00	4.40	4.60	4.60	5.40	5.60
Other Operating Expenses / (Income)	-	-	-	-	27	14	14	-	-3.80	11	20
Total Other Income / (Expense), net	-31	-29	-29	-33	-29	-27	-22	-28	-24	-26	-21
Interest & Investment Income	-28	-28	-28	-29	-28	-27	-27	-26	-24	-23	-24
Other Income / (Expense), net	-3.50	-1.50	-1.10	-4.20	-1.50	-0.40	4.80	-1.40	-0.30	-2.90	2.80
Income Tax Expense	-5.80	-19	12	-22	-0.70	12	27	2.60	15	14	6.50
Basic Earnings per Share	$0.35	$0.50	$0.25	$0.26	$0.00	$0.40	$0.78	$0.46	$0.75	($0.07)	$0.36
Weighted Average Basic Shares Outstanding	57.58M	57.67M	57.70M	58.13M	58.13M	58.44M	58.49M	58.51M	59.22M	59.33M	56.66M
Diluted Earnings per Share	$0.35	$0.50	$0.25	$0.24	$0.00	$0.40	$0.78	$0.44	$0.74	($0.07)	$0.36
Weighted Average Diluted Shares Outstanding	57.58M	57.67M	57.70M	58.13M	58.13M	58.44M	58.49M	58.51M	59.22M	59.33M	56.66M
Weighted Average Basic & Diluted Shares Outstanding	57.58M	57.67M	57.70M	58.13M	58.13M	58.44M	58.49M	58.51M	59.22M	59.33M	56.66M

This table details how cash moves in and out of Embecta's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Change in Cash & Equivalents	0.00	0.00	331	-4.40	-52	-46
Net Cash From Operating Activities	499	456	412	68	36	192
Net Cash From Continuing Operating Activities	499	456	412	68	36	192
Net Income / (Loss) Continuing Operations	428	415	224	70	78	95
Consolidated Net Income / (Loss)	428	415	224	70	78	95
Depreciation Expense	38	38	32	33	36	41
Amortization Expense	0.00	0.00	3.20	6.40	13	20
Non-Cash Adjustments To Reconcile Net Income	22	27	31	0.80	85	68
Changes in Operating Assets and Liabilities, net	11	-23	123	-43	-177	-31
Net Cash From Investing Activities	-42	-39	-24	-27	-16	-9.30
Net Cash From Continuing Investing Activities	-42	-39	-24	-27	-16	-9.30
Purchase of Property, Plant & Equipment	-42	-37	-24	-27	-16	-9.30
Net Cash From Financing Activities	-457	-417	-48	-49	-73	-227
Net Cash From Continuing Financing Activities	-457	-417	-48	-49	-73	-227
Repayment of Debt	0.00	0.00	-44	-9.50	-35	-185
Payment of Dividends	0.00	0.00	-8.60	-34	-35	-35
Other Financing Activities, net	-457	-417	-1,446	-4.80	-4.30	-7.10
Effect of Exchange Rate Changes	0.00	0.00	-9.30	3.10	1.20	-1.30

This table details how cash moves in and out of Embecta's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-28	7.80	-25	-7.60	-58	-4.40	21	-5.00	-24	-11	25
Net Cash From Operating Activities	-13	24	-2.10	27	-5.30	32	81	84	17	31	42
Net Cash From Continuing Operating Activities	-13	24	-2.10	27	-5.30	32	81	84	17	31	42
Net Income / (Loss) Continuing Operations	20	29	15	15	0.00	24	46	26	44	-4.10	21
Consolidated Net Income / (Loss)	20	29	15	15	0.00	24	46	26	44	-4.10	21
Depreciation Expense	8.80	9.00	8.90	9.50	9.40	9.00	9.20	13	10	10	11
Amortization Expense	2.00	2.80	3.80	4.60	4.60	4.70	5.00	5.20	4.50	4.50	5.90
Non-Cash Adjustments To Reconcile Net Income	24	54	-8.80	16	35	6.80	11	15	-4.20	6.20	4.20
Net Cash From Investing Activities	-2.70	-3.40	-9.70	-	-1.50	-0.10	-0.40	-7.30	9.50	-0.50	-130
Net Cash From Continuing Investing Activities	-2.70	-3.40	-9.70	-	-1.50	-0.10	-0.40	-7.30	9.50	-0.50	-130
Purchase of Property, Plant & Equipment	-2.70	-3.40	-9.70	-	-1.50	-0.10	-0.40	-7.30	-0.60	-0.50	-1.10
Net Cash From Financing Activities	-14	-12	-12	-37	-45	-37	-63	-82	-52	-42	112
Net Cash From Continuing Financing Activities	-14	-12	-12	-37	-45	-37	-63	-82	-52	-42	112
Repayment of Debt	-2.40	-2.40	-2.40	-27	-32	-27	-52	-72	-38	-38	-53
Payment of Dividends	-8.60	-8.60	-8.60	-8.70	-8.80	-8.70	-8.70	-8.80	-8.90	-8.90	-0.60
Other Financing Activities, net	-2.50	-0.80	-0.50	-0.50	-4.00	-1.20	-1.50	-0.40	-5.20	4.90	-5.80
Effect of Exchange Rate Changes	1.50	-1.30	-1.40	2.40	-5.50	1.20	3.10	-0.10	0.70	-0.10	0.10

This table presents Embecta's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Total Assets	788	1,086	1,214	1,285	1,091
Total Current Assets	292	665	749	761	631
Cash & Equivalents	0.00	331	326	268	226
Restricted Cash	-	-	0.20	6.70	3.10
Accounts Receivable	151	133	159	247	149
Inventories, net	118	123	152	172	179
Other Current Assets	23	78	111	69	75
Plant, Property, & Equipment, net	451	302	300	290	257
Total Noncurrent Assets	45	120	165	234	202
Goodwill	34	25	25	24	15
Intangible Assets	-	-	-	-	7.00
Noncurrent Deferred & Refundable Income Taxes	11	96	140	210	180
Total Liabilities & Shareholders' Equity	788	1,086	1,214	1,285	1,091
Total Liabilities	194	1,978	2,036	2,024	1,742
Total Current Liabilities	164	301	354	374	262
Short-Term Debt	0.00	9.50	9.50	9.50	9.50
Accounts Payable	54	108	127	134	91
Accrued Expenses	82	104	118	134	99
Current Deferred & Payable Income Tax Liabilities	0.00	27	34	27	9.80
Current Employee Benefit Liabilities	28	49	62	67	49
Other Current Liabilities	0.00	3.60	3.60	3.40	3.40
Total Noncurrent Liabilities	30	1,677	1,683	1,650	1,480
Long-Term Debt	0.00	1,598	1,594	1,565	1,389
Noncurrent Deferred & Payable Income Tax Liabilities	30	46	57	54	63
Other Noncurrent Operating Liabilities	0.00	33	32	30	29
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	594	-891	-822	-738	-651
Total Preferred & Common Equity	594	-891	-822	-738	-651
Total Common Equity	594	-891	-822	-738	-651
Common Stock	0.00	11	29	53	81
Retained Earnings	0.00	-577	-541	-499	-446
Accumulated Other Comprehensive Income / (Loss)	-271	-325	-309	-293	-286

This table presents Embecta's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	3/31/2023	6/30/2023	12/31/2023	3/31/2024	6/30/2024	12/31/2024	3/31/2025	6/30/2025	12/31/2025	3/31/2026	6/30/2026
Total Assets	1,210	1,252	1,218	1,200	1,268	1,150	1,120	1,157	1,064	1,029	1,265
Total Current Assets	756	788	720	710	781	667	643	682	620	608	705
Cash & Equivalents	346	317	299	300	275	210	209	231	201	185	215
Restricted Cash	-	-	-	6.70	6.70	6.70	3.00	3.00	3.10	8.50	3.50
Accounts Receivable	153	190	206	167	243	221	203	193	159	147	182
Inventories, net	158	170	149	153	186	169	169	190	182	193	214
Other Current Assets	100	110	65	83	70	61	59	65	75	75	91
Plant, Property, & Equipment, net	314	309	301	293	291	259	257	263	249	238	317
Total Noncurrent Assets	140	156	197	196	195	223	219	213	195	184	243
Goodwill	24	25	24	24	24	23	23	23	22	22	40
Intangible Assets	-	-	-	-	-	-	-	-	-	-	48
Noncurrent Deferred & Refundable Income Taxes	116	131	173	172	171	200	196	190	173	162	156
Total Liabilities & Shareholders' Equity	1,210	1,252	1,218	1,200	1,268	1,150	1,120	1,157	1,064	1,029	1,265
Total Liabilities	2,033	2,062	2,011	1,969	2,031	1,918	1,856	1,827	1,677	1,655	1,878
Total Current Liabilities	358	386	327	310	371	298	259	276	235	247	420
Short-Term Debt	9.50	9.50	9.50	9.50	9.50	9.50	9.50	9.50	9.50	9.50	139
Accounts Payable	127	125	100	91	119	116	80	81	72	80	91
Accrued Expenses	147	160	122	120	142	127	123	129	112	114	139
Current Deferred & Payable Income Tax Liabilities	36	35	34	28	41	0.00	0.00	7.10	6.70	6.20	6.40
Current Employee Benefit Liabilities	36	52	57	59	56	43	44	45	31	35	41
Other Current Liabilities	3.60	3.60	3.70	3.70	3.40	3.40	3.40	3.40	3.50	3.50	3.50
Total Noncurrent Liabilities	1,675	1,676	1,685	1,659	1,661	1,620	1,597	1,551	1,442	1,408	1,458
Long-Term Debt	1,596	1,595	1,593	1,592	1,591	1,535	1,509	1,459	1,353	1,317	1,316
Noncurrent Deferred & Payable Income Tax Liabilities	47	49	61	36	39	56	59	64	61	63	115
Other Noncurrent Operating Liabilities	32	32	31	31	31	30	30	29	28	28	27
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-823	-809	-794	-770	-764	-769	-736	-670	-613	-626	-613
Total Preferred & Common Equity	-823	-809	-794	-770	-764	-769	-736	-670	-613	-626	-613
Total Common Equity	-823	-809	-794	-770	-764	-769	-736	-670	-613	-626	-613
Common Stock	19	24	34	40	47	59	66	71	82	89	84
Retained Earnings	-545	-539	-530	-510	-504	-508	-494	-457	-411	-425	-404
Accumulated Other Comprehensive Income / (Loss)	-296	-295	-298	-300	-306	-320	-308	-283	-284	-290	-293

This table displays calculated financial ratios and metrics derived from Embecta's official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	7.35%	-3.07%	-0.77%	0.21%	-3.80%
EBITDA Growth	0.00%	1.60%	-36.67%	-25.47%	-18.20%	47.55%
EBIT Growth	0.00%	1.73%	-38.82%	-29.76%	-26.42%	55.66%
NOPAT Growth	0.00%	-3.70%	-34.58%	-45.32%	100.29%	-42.65%
Net Income Growth	0.00%	-2.99%	-46.09%	-68.52%	11.22%	21.84%
EPS Growth	0.00%	-2.93%	-46.57%	-68.64%	9.84%	20.90%
Operating Cash Flow Growth	0.00%	-8.47%	-9.66%	-83.58%	-47.27%	436.97%
Free Cash Flow Firm Growth	0.00%	0.00%	363.17%	-83.79%	142.68%	12.93%
Invested Capital Growth	0.00%	0.00%	-35.17%	18.14%	23.53%	-7.70%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.66%	0.38%	-2.00%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	19.12%	-3.47%	14.00%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	21.96%	-6.34%	15.72%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	18.73%	43.18%	-4.01%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	49.15%	12.34%	14.11%
EPS Q/Q Growth	0.00%	0.00%	0.00%	48.78%	10.74%	14.08%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-6.25%	-29.55%	-7.75%	42.74%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	45.73%	27.98%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-4.71%	1.35%	-8.16%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	70.25%	68.69%	68.61%	66.91%	65.46%	62.64%
EBITDA Margin	48.35%	45.76%	29.90%	22.46%	18.33%	28.12%
Operating Margin	44.82%	42.22%	27.41%	19.76%	14.85%	22.41%
EBIT Margin	44.82%	42.47%	26.81%	18.98%	13.93%	22.55%
Profit (Net Income) Margin	39.39%	35.60%	19.80%	6.28%	6.97%	8.83%
Tax Burden Percent	88.02%	83.81%	87.14%	66.60%	177.15%	69.99%
Interest Burden Percent	99.86%	100.00%	84.74%	49.69%	28.24%	55.95%
Effective Tax Rate	11.98%	16.19%	12.86%	33.40%	-77.15%	30.01%
Return on Invested Capital (ROIC)	0.00%	138.77%	55.08%	35.10%	58.08%	31.34%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	47.85%	29.06%	41.23%	25.35%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	-205.60%	-43.32%	-68.12%	-45.08%
Return on Equity (ROE)	0.00%	0.00%	-150.52%	-8.22%	-10.04%	-13.74%
Cash Return on Invested Capital (CROIC)	0.00%	-61.23%	97.75%	18.47%	37.03%	39.35%
Operating Return on Assets (OROA)	0.00%	62.80%	32.31%	18.49%	12.52%	20.50%
Return on Assets (ROA)	0.00%	52.64%	23.86%	6.12%	6.26%	8.03%
Return on Common Equity (ROCE)	0.00%	0.00%	-150.52%	-8.22%	-10.04%	-13.74%
Return on Equity Simple (ROE_SIMPLE)	0.00%	69.80%	-25.08%	-8.57%	-10.61%	0.00%
Net Operating Profit after Tax (NOPAT)	428	412	270	148	295	169
NOPAT Margin	39.45%	35.39%	23.89%	13.16%	26.31%	15.68%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	7.23%	6.04%	16.85%	6.00%
Return On Investment Capital (ROIC_SIMPLE)	-	-	37.67%	18.87%	35.32%	22.67%
Cost of Revenue to Revenue	29.75%	31.31%	31.39%	33.09%	34.54%	37.36%
SG&A Expenses to Revenue	19.78%	21.03%	30.06%	39.32%	43.59%	36.78%
R&D to Revenue	5.66%	5.43%	5.92%	7.60%	7.02%	3.45%
Operating Expenses to Revenue	25.44%	26.47%	41.20%	47.14%	50.61%	40.24%
Earnings before Interest and Taxes (EBIT)	487	495	303	213	157	244
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	525	533	338	252	206	304
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	1.37	0.73	0.72	0.76
Price to Earnings (P/E)	0.00	0.00	6.92	11.67	10.31	8.65
Dividend Yield	0.00%	0.00%	0.56%	4.18%	4.29%	4.25%
Earnings Yield	0.00%	0.00%	14.44%	8.57%	9.70%	11.56%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	7.33	4.61	3.75	3.84
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	2.50	1.87	1.88	1.85
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	8.37	8.34	10.24	6.57
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	9.33	9.87	13.47	8.19
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	10.47	14.23	7.13	11.77
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	6.85	31.00	59.05	10.41
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	5.90	27.03	11.19	9.38
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.00	-1.80	-1.95	-2.13	-2.15
Long-Term Debt to Equity	0.00	0.00	-1.79	-1.94	-2.12	-2.13
Financial Leverage	0.00	0.00	-4.30	-1.49	-1.65	-1.78
Leverage Ratio	0.00	1.33	-6.31	-1.34	-1.60	-1.71
Compound Leverage Factor	0.00	1.33	-5.35	-0.67	-0.45	-0.96
Debt to Total Capital	0.00%	0.00%	224.46%	205.12%	188.26%	187.03%
Short-Term Debt to Total Capital	0.00%	0.00%	1.33%	1.22%	1.14%	1.27%
Long-Term Debt to Total Capital	0.00%	0.00%	223.14%	203.90%	187.12%	185.75%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	100.00%	-124.46%	-105.12%	-88.26%	-87.03%
Debt to EBITDA	0.00	0.00	4.76	6.37	7.65	4.60
Net Debt to EBITDA	0.00	0.00	3.78	5.07	6.32	3.85
Long-Term Debt to EBITDA	0.00	0.00	4.73	6.33	7.60	4.57
Debt to NOPAT	0.00	0.00	5.96	10.87	5.33	8.25
Net Debt to NOPAT	0.00	0.00	4.73	8.66	4.40	6.90
Long-Term Debt to NOPAT	0.00	0.00	5.92	10.80	5.30	8.20
Altman Z-Score	0.00	0.00	2.09	1.51	1.33	1.85
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.00	1.78	2.21	2.12	2.03	2.41
Quick Ratio	0.00	0.92	1.54	1.37	1.38	1.43
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-182	479	78	188	213
Operating Cash Flow to CapEx	1,189.74%	1,239.95%	1,746.61%	255.47%	225.95%	2,061.29%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.00	1.48	1.21	0.97	0.90	0.91
Accounts Receivable Turnover	0.00	7.74	7.96	7.67	5.53	5.46
Inventory Turnover	0.00	3.09	2.95	2.70	2.40	2.31
Fixed Asset Turnover	0.00	2.58	3.00	3.72	3.80	3.95
Accounts Payable Turnover	0.00	6.73	4.38	3.16	2.98	3.60
Days Sales Outstanding (DSO)	0.00	47.17	45.84	47.58	65.96	66.84
Days Inventory Outstanding (DIO)	0.00	118.03	123.93	135.26	152.25	158.31
Days Payable Outstanding (DPO)	0.00	54.21	83.43	115.38	122.37	101.29
Cash Conversion Cycle (CCC)	0.00	110.99	86.34	67.46	95.83	123.86
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	0.00	594	385	455	562	519
Invested Capital Turnover	0.00	3.92	2.31	2.67	2.21	2.00
Increase / (Decrease) in Invested Capital	0.00	594	-209	70	107	-43
Enterprise Value (EV)	0.00	0.00	2,825	2,099	2,108	1,995
Market Capitalization	0.00	0.00	1,548	822	807	825
Book Value per Share	$0.00	$0.00	($15.41)	($14.34)	($12.80)	($11.12)
Tangible Book Value per Share	$0.00	$0.00	($15.84)	($14.77)	($13.21)	($11.51)
Total Capital	0.00	594	716	782	837	748
Total Debt	0.00	0.00	1,608	1,603	1,575	1,398
Total Long-Term Debt	0.00	0.00	1,598	1,594	1,565	1,389
Net Debt	0.00	0.00	1,277	1,277	1,301	1,170
Capital Expenditures (CapEx)	42	37	24	27	16	9.30
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	128	42	79	122	151
Debt-free Net Working Capital (DFNWC)	0.00	128	373	405	397	379
Net Working Capital (NWC)	0.00	128	364	396	387	370
Net Nonoperating Expense (NNE)	0.62	-2.43	46	77	217	74
Net Nonoperating Obligations (NNO)	0.00	0.00	1,277	1,277	1,301	1,170
Total Depreciation and Amortization (D&A)	38	38	35	39	49	60
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	10.97%	3.75%	7.01%	10.89%	13.96%
Debt-free Net Working Capital to Revenue	0.00%	10.97%	33.04%	36.14%	35.30%	35.12%
Net Working Capital to Revenue	0.00%	10.97%	32.20%	35.30%	34.46%	34.24%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$3.92	$1.23	$1.36	$1.64
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	57.07M	57.33M	58.13M	58.51M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$3.89	$1.22	$1.34	$1.62
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	57.07M	57.33M	58.13M	58.51M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	57.07M	57.33M	58.13M	58.51M
Normalized Net Operating Profit after Tax (NOPAT)	428	412	321	149	117	169
Normalized NOPAT Margin	39.45%	35.39%	28.43%	13.31%	10.40%	15.68%
Pre Tax Income Margin	44.75%	42.47%	22.72%	9.43%	3.94%	12.62%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	3.85%	48.86%	44.06%	36.69%
Augmented Payout Ratio	0.00%	0.00%	3.85%	48.86%	44.06%	36.69%

This table displays calculated financial ratios and metrics derived from Embecta's official financial filings.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	59,219,854.00	59,327,677.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	59,219,854.00	59,327,677.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-0.07	0.36
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.58%	3.64%	-4.75%	1.49%	-5.55%	-9.82%	8.44%	-7.72%	-0.27%	-14.36%	-8.05%
EBITDA Growth	-41.66%	-18.72%	18.84%	-17.01%	-21.97%	53.94%	67.41%	103.32%	137.38%	-38.58%	-39.82%
EBIT Growth	-48.59%	-26.51%	16.35%	-32.52%	-35.24%	65.78%	80.29%	150.45%	205.15%	-48.64%	-47.87%
NOPAT Growth	14.78%	260.17%	-21.55%	-40.76%	-68.59%	-63.92%	94.64%	180.45%	210.45%	-136.58%	-37.15%
Net Income Growth	-42.90%	106.43%	-3.29%	143.33%	-100.00%	-18.69%	209.52%	80.82%	0.00%	-117.45%	-53.63%
EPS Growth	-42.62%	108.33%	-3.85%	118.18%	-100.00%	-20.00%	212.00%	83.33%	0.00%	-117.50%	-53.85%
Operating Cash Flow Growth	-121.69%	286.92%	77.42%	-10.14%	59.54%	30.86%	3,966.67%	215.79%	424.53%	-2.20%	-48.52%
Free Cash Flow Firm Growth	81.51%	106.36%	-256.10%	-127.94%	53.38%	-114.03%	204.87%	206.73%	368.11%	1,431.93%	-144.69%
Invested Capital Growth	32.42%	20.32%	16.14%	23.53%	9.51%	8.55%	1.86%	-7.70%	-2.47%	-11.09%	10.46%
Revenue Q/Q Growth	-1.63%	3.57%	-5.12%	4.99%	-8.46%	-1.11%	14.09%	-10.66%	-1.06%	-15.08%	22.50%
EBITDA Q/Q Growth	21.38%	-6.25%	36.36%	-46.52%	14.13%	84.95%	48.29%	-35.04%	33.24%	-52.15%	45.30%
EBIT Q/Q Growth	28.83%	-10.24%	45.36%	-59.85%	23.64%	129.78%	58.08%	-44.23%	50.64%	-61.33%	60.44%
NOPAT Q/Q Growth	106.57%	78.93%	-73.40%	-39.74%	9.54%	105.52%	43.47%	-13.17%	21.26%	-124.22%	346.48%
Net Income Q/Q Growth	235.00%	43.78%	-49.13%	-0.68%	-100.00%	0.00%	93.62%	-41.98%	67.05%	-109.30%	614.63%
EPS Q/Q Growth	218.18%	42.86%	-50.00%	-4.00%	-100.00%	0.00%	95.00%	-43.59%	68.18%	-109.46%	614.29%
Operating Cash Flow Q/Q Growth	-144.26%	285.50%	-108.64%	1,366.67%	-119.92%	700.00%	155.35%	3.45%	-79.52%	80.81%	34.41%
Free Cash Flow Firm Q/Q Growth	-56.51%	142.22%	-281.35%	-90.20%	67.99%	87.29%	1,455.29%	93.58%	-19.60%	-36.86%	-145.47%
Invested Capital Q/Q Growth	12.08%	2.94%	5.64%	1.35%	-0.64%	2.04%	-0.88%	-8.16%	4.99%	-6.97%	23.14%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	67.04%	64.55%	69.76%	60.75%	59.98%	63.36%	66.70%	60.04%	61.91%	57.62%	56.42%
EBITDA Margin	19.04%	17.24%	24.77%	12.62%	15.73%	29.42%	38.24%	27.80%	37.44%	21.10%	25.03%
Operating Margin	16.41%	13.65%	20.51%	9.16%	10.96%	24.29%	31.81%	21.40%	31.89%	15.78%	17.92%
EBIT Margin	15.15%	13.13%	20.11%	7.69%	10.39%	24.13%	33.43%	20.87%	31.78%	14.47%	18.95%
Profit (Net Income) Margin	7.25%	10.06%	5.39%	5.10%	0.00%	9.07%	15.40%	10.00%	16.88%	-1.85%	7.77%
Tax Burden Percent	140.56%	291.92%	54.44%	-208.57%	0.00%	65.64%	63.02%	91.03%	74.87%	-43.16%	76.45%
Interest Burden Percent	34.05%	26.26%	49.27%	-31.82%	-2.57%	57.28%	73.08%	52.63%	70.96%	29.60%	53.59%
Effective Tax Rate	-40.56%	-191.92%	45.56%	0.00%	0.00%	34.36%	36.98%	8.97%	25.13%	143.16%	23.55%
Return on Invested Capital (ROIC)	57.81%	93.84%	24.21%	14.15%	15.90%	31.42%	39.47%	38.93%	46.72%	-13.18%	23.47%
ROIC Less NNEP Spread (ROIC-NNEP)	54.34%	87.14%	23.00%	13.86%	14.37%	30.06%	38.39%	36.91%	45.25%	-12.28%	22.17%
Return on Net Nonoperating Assets (RNNOA)	-84.20%	-139.78%	-38.09%	-22.90%	-24.20%	-51.92%	-68.39%	-65.64%	-81.39%	21.99%	-42.73%
Return on Equity (ROE)	-26.39%	-45.94%	-13.89%	-8.75%	-8.31%	-20.49%	-28.92%	-26.71%	-34.67%	8.81%	-19.26%
Cash Return on Invested Capital (CROIC)	6.55%	29.47%	25.04%	37.03%	46.87%	22.19%	29.69%	39.35%	40.79%	44.67%	16.37%
Operating Return on Assets (OROA)	14.08%	12.34%	17.86%	6.91%	9.72%	22.46%	30.40%	18.98%	31.00%	14.04%	15.94%
Return on Assets (ROA)	6.74%	9.46%	4.79%	4.59%	0.00%	8.44%	14.00%	9.09%	16.47%	-1.79%	6.53%
Return on Common Equity (ROCE)	-26.39%	-45.94%	-13.89%	-8.75%	-8.31%	-20.49%	-28.92%	-26.71%	-34.67%	8.81%	-19.26%
Return on Equity Simple (ROE_SIMPLE)	-6.97%	-9.12%	-9.13%	0.00%	-7.57%	-7.17%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	64	114	30	18	20	41	59	51	62	-15	37
NOPAT Margin	23.06%	39.84%	11.17%	6.41%	7.67%	15.94%	20.05%	19.48%	23.88%	-6.81%	13.70%
Net Nonoperating Expense Percent (NNEP)	3.47%	6.70%	1.21%	0.29%	1.53%	1.37%	1.08%	2.03%	1.47%	-0.90%	1.31%
Return On Investment Capital (ROIC_SIMPLE)	7.91%	-	-	2.19%	2.59%	5.28%	7.42%	6.88%	8.32%	-2.16%	4.42%
Cost of Revenue to Revenue	32.96%	35.45%	30.24%	39.25%	40.02%	36.64%	33.30%	39.96%	38.09%	42.38%	43.58%
SG&A Expenses to Revenue	43.35%	44.50%	41.76%	44.67%	41.28%	35.98%	33.40%	36.89%	29.71%	34.36%	28.93%
R&D to Revenue	7.28%	6.41%	7.49%	6.92%	7.75%	3.09%	1.49%	1.74%	1.76%	2.43%	2.06%
Operating Expenses to Revenue	50.63%	50.91%	49.25%	51.59%	49.03%	39.07%	34.89%	38.64%	30.02%	41.84%	38.50%
Earnings before Interest and Taxes (EBIT)	42	38	55	22	27	63	99	55	83	32	52
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	53	50	68	36	41	76	113	73	98	47	68
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.93	0.67	0.64	0.72	1.08	0.69	0.51	0.76	0.64	0.50	0.19
Price to Earnings (P/E)	18.84	10.76	10.34	10.31	20.63	14.04	6.77	8.65	4.98	4.68	2.21
Dividend Yield	4.12%	4.57%	4.80%	4.29%	2.91%	4.71%	6.19%	4.25%	5.05%	6.79%	14.11%
Earnings Yield	5.31%	9.29%	9.67%	9.70%	4.85%	7.12%	14.76%	11.56%	20.07%	21.38%	45.24%
Enterprise Value to Invested Capital (EV/IC)	4.60	3.90	3.68	3.75	4.52	3.59	3.19	3.84	3.40	3.27	2.29
Enterprise Value to Revenue (EV/Rev)	2.09	1.81	1.82	1.88	2.28	1.90	1.63	1.85	1.72	1.59	1.40
Enterprise Value to EBITDA (EV/EBITDA)	10.96	10.12	9.56	10.24	13.01	9.26	6.76	6.57	5.14	5.00	5.00
Enterprise Value to EBIT (EV/EBIT)	13.56	12.86	12.20	13.47	17.84	12.30	8.56	8.19	6.19	6.16	6.45
Enterprise Value to NOPAT (EV/NOPAT)	15.21	8.90	9.88	7.13	8.46	12.30	10.20	11.77	8.77	9.34	9.14
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	65.08	52.70	59.05	58.11	40.15	13.41	10.41	8.65	7.76	8.22
Enterprise Value to Free Cash Flow (EV/FCFF)	80.01	14.47	15.78	11.19	10.09	16.85	10.83	9.38	8.23	6.89	14.69
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-2.02	-2.08	-2.10	-2.13	-2.01	-2.06	-2.19	-2.15	-2.22	-2.12	-2.37
Long-Term Debt to Equity	-2.01	-2.07	-2.08	-2.12	-2.00	-2.05	-2.18	-2.13	-2.21	-2.10	-2.15
Financial Leverage	-1.55	-1.60	-1.66	-1.65	-1.68	-1.73	-1.78	-1.78	-1.80	-1.79	-1.93
Leverage Ratio	-1.48	-1.51	-1.60	-1.60	-1.52	-1.54	-1.69	-1.71	-1.60	-1.58	-1.89
Compound Leverage Factor	-0.50	-0.40	-0.79	0.51	0.04	-0.88	-1.24	-0.90	-1.14	-0.47	-1.01
Debt to Total Capital	198.10%	192.53%	191.29%	188.26%	199.15%	194.10%	183.84%	187.03%	181.82%	189.40%	172.73%
Short-Term Debt to Total Capital	1.17%	1.14%	1.14%	1.14%	1.23%	1.21%	1.19%	1.27%	1.27%	1.36%	16.55%
Long-Term Debt to Total Capital	196.92%	191.39%	190.15%	187.12%	197.92%	192.88%	182.65%	185.75%	180.56%	188.05%	156.18%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-98.10%	-92.53%	-91.29%	-88.26%	-99.15%	-94.10%	-83.84%	-87.03%	-81.82%	-89.40%	-72.73%
Debt to EBITDA	7.49	7.90	7.50	7.65	7.95	6.87	5.51	4.60	3.78	4.01	5.09
Net Debt to EBITDA	6.09	6.39	6.18	6.32	6.83	5.91	4.63	3.85	3.21	3.42	4.32
Long-Term Debt to EBITDA	7.44	7.86	7.46	7.60	7.90	6.83	5.47	4.57	3.75	3.98	4.60
Debt to NOPAT	10.39	6.95	7.75	5.33	5.17	9.12	8.32	8.25	6.45	7.48	9.30
Net Debt to NOPAT	8.45	5.62	6.39	4.40	4.44	7.85	6.99	6.90	5.48	6.39	7.91
Long-Term Debt to NOPAT	10.33	6.91	7.71	5.30	5.13	9.07	8.26	8.20	6.40	7.43	8.41
Altman Z-Score	1.12	1.08	1.07	0.99	1.18	1.18	1.29	1.28	1.42	1.15	0.82
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.20	2.29	2.11	2.03	2.24	2.48	2.47	2.41	2.64	2.46	1.68
Quick Ratio	1.55	1.50	1.40	1.38	1.44	1.59	1.54	1.43	1.54	1.34	0.95
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-61	26	-47	-89	-28	-3.61	49	95	76	48	-22
Operating Cash Flow to CapEx	-485.19%	714.71%	-21.65%	0.00%	-353.33%	31,800.00%	20,300.00%	1,150.68%	0.00%	6,220.00%	3,800.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.93	0.94	0.89	0.90	0.94	0.93	0.91	0.91	0.98	0.97	0.84
Accounts Receivable Turnover	6.42	7.08	5.16	5.53	5.19	5.84	5.05	5.46	5.69	5.96	5.43
Inventory Turnover	2.57	2.51	2.11	2.40	2.52	2.45	2.19	2.31	2.27	2.20	2.07
Fixed Asset Turnover	3.65	3.73	3.73	3.80	3.95	3.92	3.98	3.95	4.25	4.21	3.52
Accounts Payable Turnover	3.63	3.58	3.09	2.98	3.73	4.62	4.11	3.60	4.24	4.99	4.86
Days Sales Outstanding (DSO)	56.86	51.52	70.71	65.96	70.33	62.48	72.22	66.84	64.18	61.22	67.20
Days Inventory Outstanding (DIO)	142.25	145.48	172.88	152.25	144.75	149.18	166.98	158.31	160.78	166.15	176.68
Days Payable Outstanding (DPO)	100.44	101.99	118.14	122.37	97.91	78.94	88.89	101.29	86.00	73.11	75.16
Cash Conversion Cycle (CCC)	98.67	95.00	125.45	95.83	117.18	132.73	150.31	123.86	138.96	154.26	168.72
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	510	525	555	562	559	570	565	519	545	507	624
Invested Capital Turnover	2.51	2.36	2.17	2.21	2.07	1.97	1.97	2.00	1.96	1.94	1.71
Increase / (Decrease) in Invested Capital	125	89	77	107	49	45	10	-43	-14	-63	59
Enterprise Value (EV)	2,346	2,050	2,039	2,108	2,528	2,048	1,801	1,995	1,853	1,657	1,430
Market Capitalization	1,042	755	721	807	1,200	741	566	825	695	524	193
Book Value per Share	($13.78)	($13.37)	($13.24)	($12.80)	($13.23)	($12.66)	($11.46)	($11.12)	($10.48)	($10.57)	($10.33)
Tangible Book Value per Share	($14.20)	($13.78)	($13.66)	($13.21)	($13.63)	($13.06)	($11.85)	($11.51)	($10.86)	($10.94)	($11.80)
Total Capital	809	832	837	837	775	782	799	748	749	700	842
Total Debt	1,602	1,601	1,600	1,575	1,544	1,519	1,468	1,398	1,362	1,326	1,455
Total Long-Term Debt	1,593	1,592	1,591	1,565	1,535	1,509	1,459	1,389	1,353	1,317	1,316
Net Debt	1,304	1,295	1,319	1,301	1,328	1,306	1,235	1,170	1,158	1,133	1,237
Capital Expenditures (CapEx)	2.70	3.40	9.70	0.00	1.50	0.10	0.40	7.30	-9.50	0.50	1.10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	104	103	138	122	162	181	182	151	191	177	207
Debt-free Net Working Capital (DFNWC)	402	409	420	397	379	394	416	379	395	370	425
Net Working Capital (NWC)	393	400	410	387	369	384	406	370	386	361	285
Net Nonoperating Expense (NNE)	44	86	16	3.74	20	18	14	25	18	-11	16
Net Nonoperating Obligations (NNO)	1,304	1,295	1,319	1,301	1,328	1,306	1,235	1,170	1,158	1,133	1,237
Total Depreciation and Amortization (D&A)	11	12	13	14	14	14	14	18	15	15	17
Debt-free, Cash-free Net Working Capital to Revenue	9.24%	9.06%	12.34%	10.89%	14.61%	16.79%	16.50%	13.96%	17.65%	16.97%	20.27%
Debt-free Net Working Capital to Revenue	35.85%	36.12%	37.53%	35.30%	34.17%	36.46%	37.69%	35.12%	36.58%	35.52%	41.69%
Net Working Capital to Revenue	35.01%	35.28%	36.68%	34.46%	33.31%	35.58%	36.83%	34.24%	35.70%	34.61%	28.01%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.35	$0.50	$0.25	$0.26	$0.00	$0.40	$0.78	$0.46	$0.75	($0.07)	$0.36
Adjusted Weighted Average Basic Shares Outstanding	57.58M	57.67M	57.70M	58.13M	58.13M	58.44M	58.49M	58.51M	59.22M	59.33M	56.66M
Adjusted Diluted Earnings per Share	$0.35	$0.50	$0.25	$0.24	$0.00	$0.40	$0.78	$0.44	$0.74	($0.07)	$0.36
Adjusted Weighted Average Diluted Shares Outstanding	57.58M	57.67M	57.70M	58.13M	58.13M	58.44M	58.49M	58.51M	59.22M	59.33M	56.66M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	57.58M	57.67M	57.70M	58.13M	58.13M	58.44M	58.49M	58.51M	59.22M	59.33M	56.66M
Normalized Net Operating Profit after Tax (NOPAT)	32	27	30	18	20	41	59	51	62	25	37
Normalized NOPAT Margin	11.49%	9.55%	11.17%	6.41%	7.67%	15.94%	20.05%	19.48%	23.88%	11.05%	13.70%
Pre Tax Income Margin	5.16%	3.45%	9.91%	-2.45%	-0.27%	13.82%	24.43%	10.98%	22.55%	4.28%	10.16%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	77.76%	49.00%	49.35%	44.06%	59.62%	65.91%	41.75%	36.69%	25.16%	31.55%	31.09%
Augmented Payout Ratio	77.76%	49.00%	49.35%	44.06%	59.62%	65.91%	41.75%	36.69%	25.16%	31.55%	31.09%

Financials Breakdown Chart

Key Financial Trends

Embecta’s latest results show a sequential improvement, but the longer-term trend remains mixed. Third-quarter fiscal 2026 revenue increased to $271.7 million from $221.8 million in the second quarter, while operating income rose to $48.7 million from $35.0 million. Net income recovered to $21.1 million, or $0.36 per diluted share, after a $4.1 million loss in the prior quarter. However, revenue and earnings remained below the restated year-ago figures of $295.5 million and $45.5 million, respectively.

Profitability has weakened compared with earlier periods. Third-quarter gross margin was approximately 56.4%, down from 66.7% a year earlier, and operating margin fell to about 17.9% from 31.8%. The decline reflects lower revenue and higher operating costs, including $20.4 million of other operating expenses in the latest quarter. Interest expense also remains a significant burden at approximately $23.9 million per quarter, limiting the conversion of operating income into net income.

Cash flow improved in the latest quarter, but Embecta’s balance sheet remains highly leveraged. Operating cash flow increased to $41.8 million in Q3 fiscal 2026 from $31.1 million in Q2, and total cash and restricted cash rose to approximately $218.2 million. The company also reported a $52.5 million debt repayment during the quarter. Even so, total debt remained approximately $1.45 billion, total liabilities exceeded $1.87 billion, and shareholders’ equity was negative $612.7 million. Investors should also note that several historical figures were restated, which can complicate direct comparisons.

Sequential earnings recovery: Revenue rose 22.5% from Q2 to Q3 fiscal 2026, and net income improved from a $4.1 million loss to $21.1 million.
Positive operating cash flow: Embecta generated $41.8 million of operating cash flow in Q3, providing support for debt reduction and ongoing operations.
Debt repayments continue: The company repaid $52.5 million of debt in Q3, following $37.5 million in Q2 and $37.5 million in Q1.
Cash balance stabilized recently: Cash and restricted cash increased to approximately $218.2 million at the end of Q3 from roughly $193.4 million at the end of Q2.
Dividend maintained: Embecta continued to report a $0.15-per-share quarterly dividend in fiscal 2026, which may appeal to income-oriented investors if cash generation remains adequate.
Working-capital investment is increasing: Accounts receivable reached $182.2 million and inventory rose to $214.2 million in Q3, potentially supporting future sales but tying up additional capital.
Revenue remains volatile: Quarterly revenue has ranged from $221.8 million to $271.7 million during fiscal 2026, making it difficult to establish a consistent growth trend.
Year-over-year revenue decline: Q3 fiscal 2026 revenue fell approximately 8.1% from the restated year-ago quarter, following declines in the first two fiscal 2026 quarters.
Margin compression: Gross margin and operating margin are substantially below comparable 2025 and 2024 levels, increasing pressure on future earnings.
Severe balance-sheet leverage: Total liabilities exceeded assets by more than $600 million on an equity basis, while long-term debt stood at approximately $1.32 billion, leaving limited financial flexibility.

09/04/26 05:27 AM ETAI Generated. May Contain Errors.

Embecta Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Embecta's fiscal year ends in September. Their fiscal year 2025 ended on September 30, 2025.

Embecta's net income appears to be on a downward trend, with a most recent value of $95.40 million in 2025, falling from $427.60 million in 2020. The previous period was $78.30 million in 2024. Find out what analysts predict for Embecta in the coming months.

Embecta's total operating income in 2025 was $242.10 million, based on the following breakdown:

Total Gross Profit: $676.80 million
Total Operating Expenses: $434.70 million

Over the last 5 years, Embecta's total revenue changed from $1.09 billion in 2020 to $1.08 billion in 2025, a change of -0.5%.

Embecta's total liabilities were at $1.74 billion at the end of 2025, a 13.9% decrease from 2024, and a 799.1% increase since 2021.

In the past 4 years, Embecta's cash and equivalents has ranged from $0.00 in 2021 to $330.90 million in 2022, and is currently $225.50 million as of their latest financial filing in 2025.

Over the last 5 years, Embecta's book value per share changed from 0.00 in 2020 to -11.12 in 2025, a change of -1,112.4%.

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Financial statements for NASDAQ:EMBC last updated on 8/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Embecta (EMBC) Financials

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Embecta (EMBC) Financials

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