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

$3.29 +0.04 (+1.23%)

Closing price 07/24/2026 04:00 PM Eastern

Extended Trading

$3.30 +0.00 (+0.15%)

As of 07/24/2026 07:34 PM 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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	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
Net Income / (Loss) Attributable to Common Shareholders	6.00	20	29	15	15	0.00	24	46	26	44	-4.10
Consolidated Net Income / (Loss)	6.00	20	29	15	15	0.00	24	46	26	44	-4.10
Net Income / (Loss) Continuing Operations	6.00	20	29	15	15	0.00	24	46	26	44	-4.10
Total Pre-Tax Income	5.00	14	9.90	27	-7.00	-0.70	36	72	29	59	9.50
Total Operating Income	26	46	39	56	26	29	63	94	57	83	35
Total Gross Profit	182	186	185	190	174	157	164	197	159	162	128
Total Revenue	282	277	287	273	286	262	259	296	264	261	222
Operating Revenue	282	277	287	273	286	262	259	296	264	261	222
Total Cost of Revenue	100	91	102	82	112	105	95	98	106	100	94
Operating Cost of Revenue	100	91	102	82	112	105	95	98	106	100	94
Total Operating Expenses	156	140	146	134	148	128	101	103	102	78	93
Selling, General & Admin Expense	130	120	128	114	128	81	80	99	97	78	76
Research & Development Expense	24	20	18	20	20	20	8.00	4.40	4.60	4.60	5.40
Other Operating Expenses / (Income)	-	-	-	-	-	27	14	-	-	-3.80	11
Total Other Income / (Expense), net	-21	-31	-29	-29	-33	-29	-27	-22	-28	-24	-26
Interest & Investment Income	-28	-28	-28	-28	-29	-28	-27	-27	-26	-24	-23
Other Income / (Expense), net	6.80	-3.50	-1.50	-1.10	-4.20	-1.50	-0.40	4.80	-1.40	-0.30	-2.90
Income Tax Expense	-1.00	-5.80	-19	12	-22	-0.70	12	27	2.60	15	14
Basic Earnings per Share	$0.10	$0.35	$0.50	$0.25	$0.26	$0.00	$0.40	$0.78	$0.46	$0.75	($0.07)
Weighted Average Basic Shares Outstanding	57.33M	57.58M	57.67M	57.70M	58.13M	58.13M	58.44M	58.49M	58.51M	59.22M	59.33M
Diluted Earnings per Share	$0.11	$0.35	$0.50	$0.25	$0.24	$0.00	$0.40	$0.78	$0.44	$0.74	($0.07)
Weighted Average Diluted Shares Outstanding	57.33M	57.58M	57.67M	57.70M	58.13M	58.13M	58.44M	58.49M	58.51M	59.22M	59.33M
Weighted Average Basic & Diluted Shares Outstanding	57.33M	57.58M	57.67M	57.70M	58.13M	58.13M	58.44M	58.49M	58.51M	59.22M	59.33M
Cash Dividends to Common per Share	-	$0.15	$0.15	$0.15	-	$0.15	$0.15	$0.15	-	$0.15	$0.15

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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	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
Net Change in Cash & Equivalents	9.10	-28	7.80	-25	-7.60	-58	-4.40	21	-5.00	-24	-11
Net Cash From Operating Activities	30	-13	24	-2.10	27	-5.30	32	81	84	17	31
Net Cash From Continuing Operating Activities	30	-13	24	-2.10	27	-5.30	32	81	84	17	31
Net Income / (Loss) Continuing Operations	6.00	20	29	15	15	0.00	24	46	26	44	-4.10
Consolidated Net Income / (Loss)	6.00	20	29	15	15	0.00	24	46	26	44	-4.10
Depreciation Expense	9.30	8.80	9.00	8.90	9.50	9.40	9.00	9.20	13	10	10
Amortization Expense	1.60	2.00	2.80	3.80	4.60	4.60	4.70	5.00	5.20	4.50	4.50
Non-Cash Adjustments To Reconcile Net Income	39	24	54	-8.80	16	35	6.80	11	15	-4.20	6.20
Changes in Operating Assets and Liabilities, net	-26	-68	-70	-21	-18	-54	-12	11	24	-38	14
Net Cash From Investing Activities	-9.20	-2.70	-3.40	-9.70	-	-1.50	-0.10	-0.40	-7.30	9.50	-0.50
Net Cash From Continuing Investing Activities	-9.20	-2.70	-3.40	-9.70	-	-1.50	-0.10	-0.40	-7.30	9.50	-0.50
Purchase of Property, Plant & Equipment	-9.20	-2.70	-3.40	-9.70	-	-1.50	-0.10	-0.40	-7.30	-0.60	-0.50
Net Cash From Financing Activities	-9.70	-14	-12	-12	-37	-45	-37	-63	-82	-52	-42
Net Cash From Continuing Financing Activities	-9.70	-14	-12	-12	-37	-45	-37	-63	-82	-52	-42
Repayment of Debt	-2.40	-2.40	-2.40	-2.40	-27	-32	-27	-52	-72	-38	-38
Payment of Dividends	-8.60	-8.60	-8.60	-8.60	-8.70	-8.80	-8.70	-8.70	-8.80	-8.90	-8.90
Other Financing Activities, net	1.30	-2.50	-0.80	-0.50	-0.50	-4.00	-1.20	-1.50	-0.40	-5.20	4.90
Effect of Exchange Rate Changes	-1.60	1.50	-1.30	-1.40	2.40	-5.50	1.20	3.10	-0.10	0.70	-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	22
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	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	12/31/2022	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
Total Assets	1,197	1,210	1,252	1,218	1,200	1,268	1,150	1,120	1,157	1,064	1,029
Total Current Assets	762	756	788	720	710	781	667	643	682	620	608
Cash & Equivalents	385	346	317	299	300	275	210	209	231	201	185
Restricted Cash	-	-	-	-	6.70	6.70	6.70	3.00	3.00	3.10	8.50
Accounts Receivable	143	153	190	206	167	243	221	203	193	159	147
Inventories, net	143	158	170	149	153	186	169	169	190	182	193
Other Current Assets	90	100	110	65	83	70	61	59	65	75	75
Plant, Property, & Equipment, net	314	314	309	301	293	291	259	257	263	249	238
Total Noncurrent Assets	121	140	156	197	196	195	223	219	213	195	184
Goodwill	24	24	25	24	24	24	23	23	23	22	22
Noncurrent Deferred & Refundable Income Taxes	97	116	131	173	172	171	200	196	190	173	162
Total Liabilities & Shareholders' Equity	1,197	1,210	1,252	1,218	1,200	1,268	1,150	1,120	1,157	1,064	1,029
Total Liabilities	2,033	2,033	2,062	2,011	1,969	2,031	1,918	1,856	1,827	1,677	1,655
Total Current Liabilities	370	358	386	327	310	371	298	259	276	235	247
Short-Term Debt	9.50	9.50	9.50	9.50	9.50	9.50	9.50	9.50	9.50	9.50	9.50
Accounts Payable	107	127	125	100	91	119	116	80	81	72	80
Accrued Expenses	157	147	160	122	120	142	127	123	129	112	114
Current Deferred & Payable Income Tax Liabilities	45	36	35	34	28	41	0.00	0.00	7.10	6.70	6.20
Current Employee Benefit Liabilities	49	36	52	57	59	56	43	44	45	31	35
Other Current Liabilities	3.60	3.60	3.60	3.70	3.70	3.40	3.40	3.40	3.40	3.50	3.50
Total Noncurrent Liabilities	1,663	1,675	1,676	1,685	1,659	1,661	1,620	1,597	1,551	1,442	1,408
Long-Term Debt	1,597	1,596	1,595	1,593	1,592	1,591	1,535	1,509	1,459	1,353	1,317
Noncurrent Deferred & Payable Income Tax Liabilities	33	47	49	61	36	39	56	59	64	61	63
Other Noncurrent Operating Liabilities	32	32	32	31	31	31	30	30	29	28	28
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	-836	-823	-809	-794	-770	-764	-769	-736	-670	-613	-626
Total Preferred & Common Equity	-836	-823	-809	-794	-770	-764	-769	-736	-670	-613	-626
Total Common Equity	-836	-823	-809	-794	-770	-764	-769	-736	-670	-613	-626
Common Stock	13	19	24	34	40	47	59	66	71	82	89
Retained Earnings	-551	-545	-539	-530	-510	-504	-508	-494	-457	-411	-425
Accumulated Other Comprehensive Income / (Loss)	-299	-296	-295	-298	-300	-306	-320	-308	-283	-284	-290

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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	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
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	59,219,854.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	59,219,854.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.07
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.66%	0.58%	3.64%	-4.75%	1.49%	-5.55%	-9.82%	8.44%	-7.72%	-0.27%	-14.36%
EBITDA Growth	1,303.23%	-41.66%	-18.72%	18.84%	-17.01%	-21.97%	53.94%	67.41%	103.32%	137.38%	-38.58%
EBIT Growth	671.93%	-48.59%	-26.51%	16.35%	-32.52%	-35.24%	65.78%	80.29%	150.45%	205.15%	-48.64%
NOPAT Growth	1,574.29%	14.78%	260.17%	-21.55%	-40.76%	-68.59%	-63.92%	94.64%	180.45%	210.45%	-136.58%
Net Income Growth	134.88%	-42.90%	106.43%	-3.29%	143.33%	-100.00%	-18.69%	209.52%	80.82%	0.00%	-117.45%
EPS Growth	137.93%	-42.62%	108.33%	-3.85%	118.18%	-100.00%	-20.00%	212.00%	83.33%	0.00%	-117.50%
Operating Cash Flow Growth	-48.97%	-121.69%	286.92%	77.42%	-10.14%	59.54%	30.86%	3,966.67%	215.79%	424.53%	-2.20%
Free Cash Flow Firm Growth	0.00%	81.51%	106.36%	-256.10%	-127.94%	53.38%	-114.03%	204.87%	206.73%	368.11%	1,431.93%
Invested Capital Growth	18.14%	32.42%	20.32%	16.14%	23.53%	9.51%	8.55%	1.86%	-7.70%	-2.47%	-11.09%
Revenue Q/Q Growth	-1.47%	-1.63%	3.57%	-5.12%	4.99%	-8.46%	-1.11%	14.09%	-10.66%	-1.06%	-15.08%
EBITDA Q/Q Growth	-23.42%	21.38%	-6.25%	36.36%	-46.52%	14.13%	84.95%	48.29%	-35.04%	33.24%	-52.15%
EBIT Q/Q Growth	-30.79%	28.83%	-10.24%	45.36%	-59.85%	23.64%	129.78%	58.08%	-44.23%	50.64%	-61.33%
NOPAT Q/Q Growth	-20.19%	106.57%	78.93%	-73.40%	-39.74%	9.54%	105.52%	43.47%	-13.17%	21.26%	-124.22%
Net Income Q/Q Growth	-60.53%	235.00%	43.78%	-49.13%	-0.68%	-100.00%	0.00%	93.62%	-41.98%	67.05%	-109.30%
EPS Q/Q Growth	-57.69%	218.18%	42.86%	-50.00%	-4.00%	-100.00%	0.00%	95.00%	-43.59%	68.18%	-109.46%
Operating Cash Flow Q/Q Growth	418.28%	-144.26%	285.50%	-108.64%	1,366.67%	-119.92%	700.00%	155.35%	3.45%	-79.52%	80.81%
Free Cash Flow Firm Q/Q Growth	-230.26%	-56.51%	142.22%	-281.35%	-90.20%	67.99%	87.29%	1,455.29%	93.58%	-19.60%	-36.86%
Invested Capital Q/Q Growth	-4.71%	12.08%	2.94%	5.64%	1.35%	-0.64%	2.04%	-0.88%	-8.16%	4.99%	-6.97%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	64.49%	67.04%	64.55%	69.76%	60.75%	59.98%	63.36%	66.70%	60.04%	61.91%	57.62%
EBITDA Margin	15.43%	19.04%	17.24%	24.77%	12.62%	15.73%	29.42%	38.24%	27.80%	37.44%	21.10%
Operating Margin	9.15%	16.41%	13.65%	20.51%	9.16%	10.96%	24.29%	31.81%	21.40%	31.89%	15.78%
EBIT Margin	11.56%	15.15%	13.13%	20.11%	7.69%	10.39%	24.13%	33.43%	20.87%	31.78%	14.47%
Profit (Net Income) Margin	2.13%	7.25%	10.06%	5.39%	5.10%	0.00%	9.07%	15.40%	10.00%	16.88%	-1.85%
Tax Burden Percent	120.00%	140.56%	291.92%	54.44%	-208.57%	0.00%	65.64%	63.02%	91.03%	74.87%	-43.16%
Interest Burden Percent	15.34%	34.05%	26.26%	49.27%	-31.82%	-2.57%	57.28%	73.08%	52.63%	70.96%	29.60%
Effective Tax Rate	-20.00%	-40.56%	-191.92%	45.56%	0.00%	0.00%	34.36%	36.98%	8.97%	25.13%	143.16%
Return on Invested Capital (ROIC)	29.29%	57.81%	93.84%	24.21%	14.15%	15.90%	31.42%	39.47%	38.93%	46.72%	-13.18%
ROIC Less NNEP Spread (ROIC-NNEP)	27.34%	54.34%	87.14%	23.00%	13.86%	14.37%	30.06%	38.39%	36.91%	45.25%	-12.28%
Return on Net Nonoperating Assets (RNNOA)	-40.75%	-84.20%	-139.78%	-38.09%	-22.90%	-24.20%	-51.92%	-68.39%	-65.64%	-81.39%	21.99%
Return on Equity (ROE)	-11.46%	-26.39%	-45.94%	-13.89%	-8.75%	-8.31%	-20.49%	-28.92%	-26.71%	-34.67%	8.81%
Cash Return on Invested Capital (CROIC)	18.47%	6.55%	29.47%	25.04%	37.03%	46.87%	22.19%	29.69%	39.35%	40.79%	44.67%
Operating Return on Assets (OROA)	11.27%	14.08%	12.34%	17.86%	6.91%	9.72%	22.46%	30.40%	18.98%	31.00%	14.04%
Return on Assets (ROA)	2.07%	6.74%	9.46%	4.79%	4.59%	0.00%	8.44%	14.00%	9.09%	16.47%	-1.79%
Return on Common Equity (ROCE)	-11.46%	-26.39%	-45.94%	-13.89%	-8.75%	-8.31%	-20.49%	-28.92%	-26.71%	-34.67%	8.81%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-6.97%	-9.12%	-9.13%	0.00%	-7.57%	-7.17%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	31	64	114	30	18	20	41	59	51	62	-15
NOPAT Margin	10.98%	23.06%	39.84%	11.17%	6.41%	7.67%	15.94%	20.05%	19.48%	23.88%	-6.81%
Net Nonoperating Expense Percent (NNEP)	1.95%	3.47%	6.70%	1.21%	0.29%	1.53%	1.37%	1.08%	2.03%	1.47%	-0.90%
Return On Investment Capital (ROIC_SIMPLE)	3.96%	7.91%	-	-	2.19%	2.59%	5.28%	7.42%	6.88%	8.32%	-2.16%
Cost of Revenue to Revenue	35.51%	32.96%	35.45%	30.24%	39.25%	40.02%	36.64%	33.30%	39.96%	38.09%	42.38%
SG&A Expenses to Revenue	46.08%	43.35%	44.50%	41.76%	44.67%	41.28%	35.98%	33.40%	36.89%	29.71%	34.36%
R&D to Revenue	8.37%	7.28%	6.41%	7.49%	6.92%	7.75%	3.09%	1.49%	1.74%	1.76%	2.43%
Operating Expenses to Revenue	55.34%	50.63%	50.91%	49.25%	51.59%	49.03%	39.07%	34.89%	38.64%	30.02%	41.84%
Earnings before Interest and Taxes (EBIT)	33	42	38	55	22	27	63	99	55	83	32
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	44	53	50	68	36	41	76	113	73	98	47
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)	0.73	0.93	0.67	0.64	0.72	1.08	0.69	0.51	0.76	0.64	0.50
Price to Earnings (P/E)	11.67	18.84	10.76	10.34	10.31	20.63	14.04	6.77	8.65	4.98	4.68
Dividend Yield	4.18%	4.12%	4.57%	4.80%	4.29%	2.91%	4.71%	6.19%	4.25%	5.05%	6.79%
Earnings Yield	8.57%	5.31%	9.29%	9.67%	9.70%	4.85%	7.12%	14.76%	11.56%	20.07%	21.38%
Enterprise Value to Invested Capital (EV/IC)	4.61	4.60	3.90	3.68	3.75	4.52	3.59	3.19	3.84	3.40	3.27
Enterprise Value to Revenue (EV/Rev)	1.87	2.09	1.81	1.82	1.88	2.28	1.90	1.63	1.85	1.72	1.59
Enterprise Value to EBITDA (EV/EBITDA)	8.34	10.96	10.12	9.56	10.24	13.01	9.26	6.76	6.57	5.14	5.00
Enterprise Value to EBIT (EV/EBIT)	9.87	13.56	12.86	12.20	13.47	17.84	12.30	8.56	8.19	6.19	6.16
Enterprise Value to NOPAT (EV/NOPAT)	14.23	15.21	8.90	9.88	7.13	8.46	12.30	10.20	11.77	8.77	9.34
Enterprise Value to Operating Cash Flow (EV/OCF)	31.00	0.00	65.08	52.70	59.05	58.11	40.15	13.41	10.41	8.65	7.76
Enterprise Value to Free Cash Flow (EV/FCFF)	27.03	80.01	14.47	15.78	11.19	10.09	16.85	10.83	9.38	8.23	6.89
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-1.95	-2.02	-2.08	-2.10	-2.13	-2.01	-2.06	-2.19	-2.15	-2.22	-2.12
Long-Term Debt to Equity	-1.94	-2.01	-2.07	-2.08	-2.12	-2.00	-2.05	-2.18	-2.13	-2.21	-2.10
Financial Leverage	-1.49	-1.55	-1.60	-1.66	-1.65	-1.68	-1.73	-1.78	-1.78	-1.80	-1.79
Leverage Ratio	-1.34	-1.48	-1.51	-1.60	-1.60	-1.52	-1.54	-1.69	-1.71	-1.60	-1.58
Compound Leverage Factor	-0.21	-0.50	-0.40	-0.79	0.51	0.04	-0.88	-1.24	-0.90	-1.14	-0.47
Debt to Total Capital	205.12%	198.10%	192.53%	191.29%	188.26%	199.15%	194.10%	183.84%	187.03%	181.82%	189.40%
Short-Term Debt to Total Capital	1.22%	1.17%	1.14%	1.14%	1.14%	1.23%	1.21%	1.19%	1.27%	1.27%	1.36%
Long-Term Debt to Total Capital	203.90%	196.92%	191.39%	190.15%	187.12%	197.92%	192.88%	182.65%	185.75%	180.56%	188.05%
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	-105.12%	-98.10%	-92.53%	-91.29%	-88.26%	-99.15%	-94.10%	-83.84%	-87.03%	-81.82%	-89.40%
Debt to EBITDA	6.37	7.49	7.90	7.50	7.65	7.95	6.87	5.51	4.60	3.78	4.01
Net Debt to EBITDA	5.07	6.09	6.39	6.18	6.32	6.83	5.91	4.63	3.85	3.21	3.42
Long-Term Debt to EBITDA	6.33	7.44	7.86	7.46	7.60	7.90	6.83	5.47	4.57	3.75	3.98
Debt to NOPAT	10.87	10.39	6.95	7.75	5.33	5.17	9.12	8.32	8.25	6.45	7.48
Net Debt to NOPAT	8.66	8.45	5.62	6.39	4.40	4.44	7.85	6.99	6.90	5.48	6.39
Long-Term Debt to NOPAT	10.80	10.33	6.91	7.71	5.30	5.13	9.07	8.26	8.20	6.40	7.43
Altman Z-Score	1.02	1.12	1.08	1.07	0.99	1.18	1.18	1.29	1.28	1.42	1.15
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	2.12	2.20	2.29	2.11	2.03	2.24	2.48	2.47	2.41	2.64	2.46
Quick Ratio	1.37	1.55	1.50	1.40	1.38	1.44	1.59	1.54	1.43	1.54	1.34
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-39	-61	26	-47	-89	-28	-3.61	49	95	76	48
Operating Cash Flow to CapEx	321.74%	-485.19%	714.71%	-21.65%	0.00%	-353.33%	31,800.00%	20,300.00%	1,150.68%	0.00%	6,220.00%
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	0.97	0.93	0.94	0.89	0.90	0.94	0.93	0.91	0.91	0.98	0.97
Accounts Receivable Turnover	7.67	6.42	7.08	5.16	5.53	5.19	5.84	5.05	5.46	5.69	5.96
Inventory Turnover	2.70	2.57	2.51	2.11	2.40	2.52	2.45	2.19	2.31	2.27	2.20
Fixed Asset Turnover	3.72	3.65	3.73	3.73	3.80	3.95	3.92	3.98	3.95	4.25	4.21
Accounts Payable Turnover	3.16	3.63	3.58	3.09	2.98	3.73	4.62	4.11	3.60	4.24	4.99
Days Sales Outstanding (DSO)	47.58	56.86	51.52	70.71	65.96	70.33	62.48	72.22	66.84	64.18	61.22
Days Inventory Outstanding (DIO)	135.26	142.25	145.48	172.88	152.25	144.75	149.18	166.98	158.31	160.78	166.15
Days Payable Outstanding (DPO)	115.38	100.44	101.99	118.14	122.37	97.91	78.94	88.89	101.29	86.00	73.11
Cash Conversion Cycle (CCC)	67.46	98.67	95.00	125.45	95.83	117.18	132.73	150.31	123.86	138.96	154.26
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	455	510	525	555	562	559	570	565	519	545	507
Invested Capital Turnover	2.67	2.51	2.36	2.17	2.21	2.07	1.97	1.97	2.00	1.96	1.94
Increase / (Decrease) in Invested Capital	70	125	89	77	107	49	45	10	-43	-14	-63
Enterprise Value (EV)	2,099	2,346	2,050	2,039	2,108	2,528	2,048	1,801	1,995	1,853	1,657
Market Capitalization	822	1,042	755	721	807	1,200	741	566	825	695	524
Book Value per Share	($14.34)	($13.78)	($13.37)	($13.24)	($12.80)	($13.23)	($12.66)	($11.46)	($11.12)	($10.48)	($10.57)
Tangible Book Value per Share	($14.77)	($14.20)	($13.78)	($13.66)	($13.21)	($13.63)	($13.06)	($11.85)	($11.51)	($10.86)	($10.94)
Total Capital	782	809	832	837	837	775	782	799	748	749	700
Total Debt	1,603	1,602	1,601	1,600	1,575	1,544	1,519	1,468	1,398	1,362	1,326
Total Long-Term Debt	1,594	1,593	1,592	1,591	1,565	1,535	1,509	1,459	1,389	1,353	1,317
Net Debt	1,277	1,304	1,295	1,319	1,301	1,328	1,306	1,235	1,170	1,158	1,133
Capital Expenditures (CapEx)	9.20	2.70	3.40	9.70	0.00	1.50	0.10	0.40	7.30	-9.50	0.50
Debt-free, Cash-free Net Working Capital (DFCFNWC)	79	104	103	138	122	162	181	182	151	191	177
Debt-free Net Working Capital (DFNWC)	405	402	409	420	397	379	394	416	379	395	370
Net Working Capital (NWC)	396	393	400	410	387	369	384	406	370	386	361
Net Nonoperating Expense (NNE)	25	44	86	16	3.74	20	18	14	25	18	-11
Net Nonoperating Obligations (NNO)	1,277	1,304	1,295	1,319	1,301	1,328	1,306	1,235	1,170	1,158	1,133
Total Depreciation and Amortization (D&A)	11	11	12	13	14	14	14	14	18	15	15
Debt-free, Cash-free Net Working Capital to Revenue	7.01%	9.24%	9.06%	12.34%	10.89%	14.61%	16.79%	16.50%	13.96%	17.65%	16.97%
Debt-free Net Working Capital to Revenue	36.14%	35.85%	36.12%	37.53%	35.30%	34.17%	36.46%	37.69%	35.12%	36.58%	35.52%
Net Working Capital to Revenue	35.30%	35.01%	35.28%	36.68%	34.46%	33.31%	35.58%	36.83%	34.24%	35.70%	34.61%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.10	$0.35	$0.50	$0.25	$0.26	$0.00	$0.40	$0.78	$0.46	$0.75	($0.07)
Adjusted Weighted Average Basic Shares Outstanding	57.33M	57.58M	57.67M	57.70M	58.13M	58.13M	58.44M	58.49M	58.51M	59.22M	59.33M
Adjusted Diluted Earnings per Share	$0.11	$0.35	$0.50	$0.25	$0.24	$0.00	$0.40	$0.78	$0.44	$0.74	($0.07)
Adjusted Weighted Average Diluted Shares Outstanding	57.33M	57.58M	57.67M	57.70M	58.13M	58.13M	58.44M	58.49M	58.51M	59.22M	59.33M
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	57.33M	57.58M	57.67M	57.70M	58.13M	58.13M	58.44M	58.49M	58.51M	59.22M	59.33M
Normalized Net Operating Profit after Tax (NOPAT)	18	32	27	30	18	20	41	59	51	62	25
Normalized NOPAT Margin	6.41%	11.49%	9.55%	11.17%	6.41%	7.67%	15.94%	20.05%	19.48%	23.88%	11.05%
Pre Tax Income Margin	1.77%	5.16%	3.45%	9.91%	-2.45%	-0.27%	13.82%	24.43%	10.98%	22.55%	4.28%
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	48.86%	77.76%	49.00%	49.35%	44.06%	59.62%	65.91%	41.75%	36.69%	25.16%	31.55%
Augmented Payout Ratio	48.86%	77.76%	49.00%	49.35%	44.06%	59.62%	65.91%	41.75%	36.69%	25.16%	31.55%

Financials Breakdown Chart

Key Financial Trends

Embecta’s latest results show a business that is still profitable and generating solid operating cash flow, but with clear pressure from declining revenue, heavy debt, and a weak balance sheet structure. Over the last four years, the company has gone from stronger earnings and cash generation to more volatile quarterly performance, while leverage remains a major issue for investors to watch.

Q4 2025 generated $84 million in operating cash flow, showing the core business still converts earnings into cash.
Q4 2025 net income was $26.4 million, up from a loss in Q1 2025 and still positive despite a tougher environment.
Gross profit in Q4 2025 was $158.5 million, indicating the company maintained decent product-level profitability.
Cash and equivalents rose to $230.6 million at the end of Q3 2025, giving Embecta a meaningful liquidity cushion.
The company continued to reduce debt, with $72.4 million of debt repayment in Q4 2025 and $52.4 million in Q3 2025.
Operating revenue was $264 million in Q4 2025, down from $295.5 million in Q3 2025, showing some quarter-to-quarter softness.
Diluted EPS in Q4 2025 was $0.44, below Q3 2025’s $0.78, reflecting lower quarterly earnings.
Capital spending stayed modest at $7.3 million in Q4 2025, suggesting limited near-term investment intensity.
Noncurrent deferred tax assets remain a large balance sheet item, which can help reported asset value but does not solve leverage concerns.
Revenue has weakened from $286.1 million in Q4 2024 to $264 million in Q4 2025, suggesting top-line pressure.
Quarterly operating income fell sharply from $94 million in Q3 2025 to $56.5 million in Q4 2025.
Interest and investment income was a large drag, with -$26.1 million in Q4 2025 and -$27.5 million in total other income/expense.
Long-term debt was still very high at $1.4588 billion on the Q3 2025 balance sheet, versus only $230.6 million in cash.
Total equity remained deeply negative at -$669.6 million in Q3 2025, reflecting a highly leveraged capital structure.
The business has shown volatility over the past several years, including quarters with negative operating cash flow and even a net loss in Q1 2025.
Interest expense pressure appears significant relative to operating profit, which limits flexibility even when operations improve.

Bottom line: Embecta is still producing profits and cash, but the trend is mixed. The company’s biggest strength is its ability to generate operating cash flow and service debt, while the biggest risk is the combination of shrinking revenue, large borrowings, and negative equity. For retail investors, this looks more like a balance-sheet story than a pure growth story.

07/25/26 05:10 PM 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. Check out Embecta's forecast to explore projected trends and price targets.

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 7/9/2026 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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Financials Breakdown Chart

Key Financial Trends

Embecta Financials - Frequently Asked Questions

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How has Embecta's net income changed over the last 5 years?

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How has Embecta's revenue changed over the last 5 years?

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