What is Organon & Co.'s operating income?

Organon & Co.'s total operating income in 2025 was $824 million, based on the following breakdown: Total Gross Profit: $3.31 billion Total Operating Expenses: $2.49 billion

Organon & Co. (OGN) Financials

$13.56 +0.01 (+0.04%)

Closing price 07/31/2026 03:59 PM Eastern

Extended Trading

$13.55 0.00 (-0.04%)

As of 07/31/2026 07:34 PM Eastern

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Annual Income Statements for Organon & Co.

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

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	3,218	2,160	1,351	917	1,023	864	187
Consolidated Net Income / (Loss)	3,218	2,160	1,351	917	1,023	864	187
Net Income / (Loss) Continuing Operations	3,306	2,256	1,351	917	1,023	864	187
Total Pre-Tax Income	3,696	2,752	1,529	1,122	673	807	425
Total Operating Income	3,762	2,787	1,791	1,570	1,257	1,374	824
Total Gross Profit	5,503	4,413	3,905	3,880	3,748	3,715	3,313
Total Revenue	7,777	6,532	6,304	6,174	6,263	6,403	6,216
Operating Revenue	7,777	6,532	6,304	6,174	6,263	6,403	6,216
Total Cost of Revenue	2,274	2,119	2,399	2,294	2,515	2,688	2,903
Operating Cost of Revenue	2,274	2,119	2,399	2,294	2,515	2,688	2,903
Total Operating Expenses	1,741	1,626	2,114	2,310	2,491	2,341	2,489
Selling, General & Admin Expense	1,443	1,356	1,668	1,704	1,893	1,760	1,721
Research & Development Expense	220	210	443	578	536	550	372
Impairment Charge	-	-	-	-	0.00	0.00	301
Restructuring Charge	78	60	3.00	28	62	31	95
Total Other Income / (Expense), net	-66	-35	-262	-448	-584	-567	-399
Interest Expense	-	0.00	258	422	527	520	504
Other Income / (Expense), net	-66	-35	-4.00	-26	-57	-47	105
Income Tax Expense	390	496	178	205	-350	-57	238
Basic Earnings per Share	$12.69	$8.52	$5.33	$3.61	$4.01	$3.36	$0.72
Weighted Average Basic Shares Outstanding	253.52M	253.52M	253.54M	254.08M	255.24M	257.05M	259.50M
Diluted Earnings per Share	$12.69	$8.52	$5.31	$3.59	$3.99	$3.33	$0.72
Weighted Average Diluted Shares Outstanding	253.52M	253.52M	254.19M	255.17M	256.27M	259.15M	260.76M
Weighted Average Basic & Diluted Shares Outstanding	-	-	253.64M	254.38M	255.64M	257.95M	260.32M
Cash Dividends to Common per Share	-	-	$0.56	$1.12	$1.12	$1.12	$0.34

This table shows Organon & Co.'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	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	546	201	195	359	109	87	145	160	-205	146	108
Consolidated Net Income / (Loss)	546	201	195	359	109	87	145	160	-205	146	108
Net Income / (Loss) Continuing Operations	546	201	195	359	109	87	145	160	-205	146	108
Total Pre-Tax Income	104	236	235	207	129	101	229	243	-148	213	183
Total Operating Income	254	376	371	339	288	233	324	358	-91	235	322
Total Gross Profit	915	957	939	923	896	841	874	857	741	783	847
Total Revenue	1,598	1,622	1,607	1,582	1,592	1,513	1,594	1,602	1,507	1,460	1,558
Operating Revenue	-	1,622	1,607	1,582	-	1,513	1,594	1,602	1,507	1,460	1,558
Total Cost of Revenue	683	665	668	659	696	672	720	745	766	677	711
Operating Cost of Revenue	683	665	668	659	696	672	720	745	766	677	711
Total Operating Expenses	661	581	568	584	608	608	550	499	832	548	525
Selling, General & Admin Expense	469	431	437	422	470	420	453	415	433	424	434
Research & Development Expense	134	127	131	162	130	102	95	84	91	93	91
Restructuring Charge	58	23	0.00	0.00	8.00	86	2.00	0.00	7.00	31	0.00
Total Other Income / (Expense), net	-150	-140	-136	-132	-159	-132	-95	-115	-57	-22	-139
Interest Expense	143	131	131	126	153	124	131	128	109	111	108
Other Income / (Expense), net	-7.00	-9.00	-5.00	-6.00	-6.00	-8.00	36	13	52	89	-31
Income Tax Expense	-442	35	40	-152	20	14	84	83	57	67	75
Basic Earnings per Share	$2.13	$0.78	$0.76	$1.39	$0.43	$0.34	$0.56	$0.61	($0.79)	$0.56	$0.41
Weighted Average Basic Shares Outstanding	255.24M	255.70M	257.29M	257.50M	257.05M	257.86M	259.94M	259.98M	259.50M	260.37M	262.61M
Diluted Earnings per Share	$2.12	$0.78	$0.75	$1.38	$0.42	$0.33	$0.56	$0.61	($0.78)	$0.55	$0.40
Weighted Average Diluted Shares Outstanding	256.27M	258.36M	258.60M	259.76M	259.15M	261.00M	260.16M	260.65M	260.76M	262.90M	270.45M
Weighted Average Basic & Diluted Shares Outstanding	255.64M	257.17M	257.47M	257.54M	257.95M	259.96M	259.97M	259.98M	260.32M	262.60M	262.61M

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

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	75	-246	667	-31	-13	-18	-101
Net Cash From Operating Activities	3,020	2,284	2,160	858	799	939	700
Net Cash From Continuing Operating Activities	3,020	2,284	2,160	858	799	939	700
Net Income / (Loss) Continuing Operations	3,306	2,256	1,351	917	1,023	864	187
Consolidated Net Income / (Loss)	-	-	1,351	917	1,023	864	187
Depreciation Expense	49	56	92	96	120	132	156
Amortization Expense	284	86	103	116	116	145	205
Non-Cash Adjustments To Reconcile Net Income	41	35	200	199	180	225	386
Changes in Operating Assets and Liabilities, net	-660	-149	414	-470	-640	-427	-234
Net Cash From Investing Activities	-88	-250	-481	-420	-260	-513	-390
Net Cash From Continuing Investing Activities	-88	-250	-481	-420	-260	-513	-390
Purchase of Property, Plant & Equipment	-92	-255	-192	-196	-251	-175	-162
Acquisitions	0.00	0.00	-296	-231	-10	-342	-229
Sale of Property, Plant & Equipment	4.00	5.00	7.00	7.00	1.00	4.00	1.00
Net Cash From Financing Activities	-2,932	-2,022	-977	-433	-569	-368	-561
Net Cash From Continuing Financing Activities	-2,932	-2,022	-977	-433	-569	-368	-561
Repayment of Debt	0.00	0.00	-1,742	-108	-338	-1,235	-1,513
Payment of Dividends	0.00	0.00	-145	-290	-294	-297	-88
Issuance of Debt	0.00	1,512	9,470	0.00	80	1,186	1,055
Other Financing Activities, net	-2,932	-3,534	-8,560	-35	-17	-22	-15
Effect of Exchange Rate Changes	31	-	23	-36	17	-76	150

This table details how cash moves in and out of Organon & Co.'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	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	279	-118	129	59	-88	-128	52	73	-98	542	16
Net Cash From Operating Activities	397	76	332	141	390	75	220	264	141	225	107
Net Cash From Continuing Operating Activities	397	76	332	141	390	75	220	264	141	225	106
Net Income / (Loss) Continuing Operations	546	201	195	359	109	87	145	160	-205	146	108
Consolidated Net Income / (Loss)	546	201	195	359	109	87	145	160	-205	146	108
Depreciation Expense	32	32	32	34	34	34	36	40	46	39	34
Amortization Expense	28	33	34	35	43	50	53	52	50	47	46
Non-Cash Adjustments To Reconcile Net Income	55	28	50	76	71	35	25	31	295	-47	18
Changes in Operating Assets and Liabilities, net	-264	-218	21	-363	133	-131	-39	-19	-45	40	-100
Net Cash From Investing Activities	-81	-96	-46	-75	-296	-172	-38	-115	-65	386	-76
Net Cash From Continuing Investing Activities	-81	-96	-46	-75	-296	-172	-38	-115	-65	386	-75
Purchase of Property, Plant & Equipment	-79	-46	-32	-42	-55	-32	-39	-46	-45	-37	-42
Acquisitions	-2.00	-50	-15	-34	-243	-140	-	-69	-20	-10	-34
Other Investing Activities, net	-	-	-	-	-	-	-	-	-	0.00	1.00
Net Cash From Financing Activities	-77	-74	-134	-78	-82	-75	-223	-76	-187	-38	-12
Net Cash From Continuing Financing Activities	-77	-74	-134	-78	-82	-75	-223	-76	-187	-38	-12
Payment of Dividends	-73	-70	-79	-74	-74	-71	-10	-3.00	-4.00	-5.00	-6.00
Other Financing Activities, net	-2.00	-2.00	-14	-2.00	-4.00	-1.00	-12	-1.00	-1.00	-1.00	-6.00
Other Net Changes in Cash	-	-	-	-	-	-	-	-	-	-31	-3.00

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

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	10,109	10,681	10,955	12,058	13,101	12,867
Total Current Assets	3,567	3,760	3,931	4,508	4,348	4,352
Cash & Equivalents	12	737	706	693	675	574
Accounts Receivable	1,038	1,382	1,475	1,744	1,358	1,331
Inventories, net	913	915	1,003	1,315	1,321	1,406
Other Current Assets	930	726	747	756	994	1,033
Other Current Nonoperating Assets	674	-	-	-	0.00	8.00
Plant, Property, & Equipment, net	984	973	1,018	1,183	1,168	1,303
Total Noncurrent Assets	5,558	5,948	6,006	6,367	7,585	7,212
Goodwill	4,603	4,603	4,603	4,603	4,680	4,153
Intangible Assets	503	651	649	533	1,414	1,130
Noncurrent Deferred & Refundable Income Taxes	-	694	-	1,231	-	1,539
Other Noncurrent Nonoperating Assets	91	-	-	-	0.00	390
Total Liabilities & Shareholders' Equity	10,109	10,681	10,955	12,058	13,101	12,867
Total Liabilities	4,623	12,189	11,847	12,128	12,629	12,115
Total Current Liabilities	2,673	2,597	2,512	2,918	2,718	2,390
Short-Term Debt	0.00	9.00	8.00	9.00	20	16
Accounts Payable	1,598	1,382	1,132	1,314	1,153	952
Accrued Expenses	659	1,021	1,188	1,389	1,411	1,335
Current Deferred & Payable Income Tax Liabilities	288	185	184	206	134	85
Other Current Nonoperating Liabilities	128	-	-	-	0.00	2.00
Total Noncurrent Liabilities	1,950	9,592	9,335	9,210	9,911	9,725
Long-Term Debt	0.00	9,125	8,905	8,751	8,860	8,628
Noncurrent Deferred & Payable Income Tax Liabilities	128	4.00	19	47	74	57
Other Noncurrent Operating Liabilities	1,739	463	411	412	977	1,008
Other Noncurrent Nonoperating Liabilities	83	-	-	-	0.00	32
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,486	-1,508	-892	-70	472	752
Total Preferred & Common Equity	5,486	-1,508	-892	-70	472	752
Total Common Equity	5,486	-1,508	-892	-70	472	752
Common Stock	0.00	3.00	3.00	28	111	170
Retained Earnings	0.00	-998	-331	443	1,010	1,109
Accumulated Other Comprehensive Income / (Loss)	-622	-513	-564	-541	-649	-527

This table presents Organon & Co.'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	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	10,763	10,979	11,012	11,891	12,154	12,752	13,156	13,500	13,552	12,996	13,178
Total Current Assets	3,780	3,958	4,050	4,196	4,509	4,756	4,371	4,618	4,700	4,932	5,111
Cash & Equivalents	459	326	414	575	704	763	547	599	672	1,116	1,132
Accounts Receivable	1,445	1,672	1,648	1,547	1,617	1,685	1,457	1,484	1,484	1,384	1,492
Inventories, net	1,121	1,199	1,186	1,263	1,287	1,383	1,362	1,454	1,488	1,373	1,351
Other Current Assets	755	761	802	811	901	925	1,005	1,081	1,056	1,059	1,136
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	-	0.00	0.00
Plant, Property, & Equipment, net	1,055	1,110	1,096	1,180	1,162	1,204	1,197	1,266	1,290	1,279	1,281
Total Noncurrent Assets	5,928	5,911	5,866	6,515	6,483	6,792	7,588	7,616	7,562	6,785	6,786
Goodwill	4,603	4,603	4,603	4,603	4,603	4,603	4,680	4,680	4,680	4,153	4,153
Intangible Assets	621	592	561	718	684	763	1,417	1,362	1,340	1,099	1,112
Noncurrent Deferred & Refundable Income Taxes	704	716	702	1,194	1,196	1,426	1,491	-	-	1,533	1,521
Other Noncurrent Nonoperating Assets	-	-	-	-	-	-	-	-	-	0.00	0.00
Total Liabilities & Shareholders' Equity	10,763	10,979	11,012	11,891	12,154	12,752	13,156	13,500	13,552	12,996	13,178
Total Liabilities	11,500	11,534	11,601	11,843	12,010	12,259	12,614	12,767	12,646	12,093	12,172
Total Current Liabilities	2,346	2,387	2,491	2,545	2,755	2,790	2,615	2,796	2,679	2,500	2,616
Short-Term Debt	8.00	8.00	8.00	9.00	9.00	10	20	115	45	16	74
Accounts Payable	996	1,115	1,067	955	1,243	1,092	1,006	1,067	1,074	983	1,051
Accrued Expenses	1,150	1,101	1,255	1,385	1,302	1,458	1,413	1,420	1,444	1,424	1,407
Current Deferred & Payable Income Tax Liabilities	192	163	161	196	201	230	176	194	116	77	84
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	-	-	0.00	0.00
Total Noncurrent Liabilities	9,154	9,147	9,110	9,298	9,255	9,469	9,999	9,971	9,967	9,593	9,556
Long-Term Debt	8,703	8,722	8,646	8,705	8,647	8,739	8,936	8,781	8,783	8,553	8,479
Noncurrent Deferred & Payable Income Tax Liabilities	30	32	43	44	60	56	69	69	62	56	51
Other Noncurrent Operating Liabilities	421	393	421	549	548	674	994	1,121	1,122	984	1,026
Other Noncurrent Nonoperating Liabilities	-	-	-	-	-	-	-	-	-	0.00	0.00
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	-737	-555	-589	48	144	493	542	733	906	903	1,006
Total Preferred & Common Equity	-737	-555	-589	48	144	493	542	733	906	903	1,006
Total Common Equity	-737	-555	-589	48	144	493	542	733	906	903	1,006
Common Stock	3.00	3.00	3.00	52	66	89	133	142	162	189	202
Retained Earnings	-206	-25	-16	573	690	975	1,026	1,163	1,318	1,253	1,352
Accumulated Other Comprehensive Income / (Loss)	-534	-533	-576	-577	-612	-571	-617	-572	-574	-539	-548

This table displays calculated financial ratios and metrics derived from Organon & Co.'s official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	-16.01%	-3.49%	-2.06%	1.44%	2.24%	-2.92%
EBITDA Growth	0.00%	-28.17%	-31.51%	-10.65%	-18.07%	11.99%	-19.58%
EBIT Growth	0.00%	-25.54%	-35.07%	-12.76%	-22.07%	10.95%	-29.99%
NOPAT Growth	0.00%	-32.11%	-30.73%	-18.92%	48.91%	-23.01%	-75.35%
Net Income Growth	0.00%	-32.88%	-37.45%	-32.12%	11.56%	-15.54%	-78.36%
EPS Growth	0.00%	-32.86%	-37.68%	-32.39%	11.14%	-16.54%	-78.38%
Operating Cash Flow Growth	0.00%	-24.37%	-5.43%	-60.28%	-6.88%	17.52%	-25.45%
Free Cash Flow Firm Growth	0.00%	0.00%	85.33%	321.77%	43.35%	-35.62%	-26.48%
Invested Capital Growth	0.00%	0.00%	40.02%	6.18%	9.32%	8.50%	-2.52%
Revenue Q/Q Growth	0.00%	0.00%	-0.16%	-1.88%	1.84%	-0.09%	-1.35%
EBITDA Q/Q Growth	0.00%	0.00%	-7.69%	-5.24%	1.75%	4.30%	-18.97%
EBIT Q/Q Growth	0.00%	0.00%	-9.70%	-5.34%	1.42%	3.85%	-25.68%
NOPAT Q/Q Growth	0.00%	0.00%	-5.25%	-2.30%	77.11%	-33.27%	-57.77%
Net Income Q/Q Growth	0.00%	0.00%	-10.94%	-9.30%	74.87%	-33.59%	-62.67%
EPS Q/Q Growth	0.00%	0.00%	-11.06%	-9.11%	74.24%	-33.80%	-62.50%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-16.83%	34.48%	19.43%	-0.74%	-26.24%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.67%	118.71%	-42.53%	111.05%
Invested Capital Q/Q Growth	0.00%	0.00%	3.25%	2.54%	4.52%	2.34%	-6.67%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	70.76%	67.56%	61.94%	62.84%	59.84%	58.02%	53.30%
EBITDA Margin	51.81%	44.31%	31.44%	28.68%	23.17%	25.38%	20.75%
Operating Margin	48.37%	42.67%	28.41%	25.43%	20.07%	21.46%	13.26%
EBIT Margin	47.52%	42.13%	28.35%	25.25%	19.40%	21.05%	14.95%
Profit (Net Income) Margin	41.38%	33.07%	21.43%	14.85%	16.33%	13.49%	3.01%
Tax Burden Percent	87.07%	78.49%	88.36%	81.73%	152.01%	107.06%	44.00%
Interest Burden Percent	100.00%	100.00%	85.56%	71.97%	55.39%	59.87%	45.75%
Effective Tax Rate	10.55%	18.02%	11.64%	18.27%	-52.01%	-7.06%	56.00%
Return on Invested Capital (ROIC)	0.00%	92.87%	26.80%	18.07%	24.96%	17.64%	4.23%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	136.93%	20.89%	13.66%	14.05%	10.18%	2.03%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-14.13%	41.12%	-94.48%	-237.64%	412.21%	26.32%
Return on Equity (ROE)	0.00%	78.75%	67.92%	-76.42%	-212.68%	429.85%	30.56%
Cash Return on Invested Capital (CROIC)	0.00%	-107.13%	-6.55%	12.07%	16.05%	9.49%	6.79%
Operating Return on Assets (OROA)	0.00%	27.22%	17.19%	14.41%	10.56%	10.72%	7.16%
Return on Assets (ROA)	0.00%	21.37%	13.00%	8.48%	8.89%	6.87%	1.44%
Return on Common Equity (ROCE)	0.00%	78.75%	67.92%	-76.42%	-212.68%	429.85%	30.56%
Return on Equity Simple (ROE_SIMPLE)	0.00%	39.37%	-89.59%	-102.80%	-1,461.43%	183.05%	0.00%
Net Operating Profit after Tax (NOPAT)	3,365	2,285	1,582	1,283	1,911	1,471	363
NOPAT Margin	43.27%	34.98%	25.10%	20.78%	30.51%	22.97%	5.83%
Net Nonoperating Expense Percent (NNEP)	0.00%	-44.06%	5.91%	4.41%	10.91%	7.46%	2.21%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	16.00%	21.99%	15.73%	3.86%
Cost of Revenue to Revenue	29.24%	32.44%	38.06%	37.16%	40.16%	41.98%	46.70%
SG&A Expenses to Revenue	18.55%	20.76%	26.46%	27.60%	30.23%	27.49%	27.69%
R&D to Revenue	2.83%	3.21%	7.03%	9.36%	8.56%	8.59%	5.98%
Operating Expenses to Revenue	22.39%	24.89%	33.53%	37.42%	39.77%	36.56%	40.04%
Earnings before Interest and Taxes (EBIT)	3,696	2,752	1,787	1,559	1,215	1,348	929
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	4,029	2,894	1,982	1,771	1,451	1,625	1,290
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	7.99	2.47
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	1.05	1.00	0.54	0.59	0.30
Price to Earnings (P/E)	0.00	0.00	4.91	6.74	3.33	4.37	9.94
Dividend Yield	0.00%	0.00%	2.14%	6.92%	8.40%	7.64%	4.75%
Earnings Yield	0.00%	0.00%	20.37%	14.84%	30.03%	22.90%	10.06%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	2.18	1.97	1.43	1.38	1.17
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	2.38	2.33	1.83	1.87	1.60
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	7.58	8.12	7.91	7.37	7.70
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	8.41	9.23	9.44	8.89	10.69
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	9.50	11.21	6.01	8.14	27.39
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	6.96	16.77	14.36	12.76	14.19
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	16.78	9.34	15.14	17.07
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	-6.06	-9.99	-125.14	18.81	11.49
Long-Term Debt to Equity	0.00	0.00	-6.05	-9.98	-125.01	18.77	11.47
Financial Leverage	0.00	-0.10	1.97	-6.92	-16.92	40.48	13.00
Leverage Ratio	0.00	1.84	5.23	-9.02	-23.92	62.58	21.22
Compound Leverage Factor	0.00	1.84	4.47	-6.49	-13.25	37.47	9.71
Debt to Total Capital	0.00%	0.00%	119.77%	111.12%	100.81%	94.95%	92.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.12%	0.10%	0.10%	0.21%	0.17%
Long-Term Debt to Total Capital	0.00%	0.00%	119.66%	111.02%	100.70%	94.74%	91.83%
Preferred Equity to Total Capital	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%
Common Equity to Total Capital	0.00%	100.00%	-19.77%	-11.12%	-0.81%	5.05%	8.00%
Debt to EBITDA	0.00	0.00	4.61	5.03	6.04	5.46	6.70
Net Debt to EBITDA	0.00	0.00	4.24	4.63	5.56	5.05	6.26
Long-Term Debt to EBITDA	0.00	0.00	4.60	5.03	6.03	5.45	6.69
Debt to NOPAT	0.00	0.00	5.77	6.95	4.58	6.04	23.84
Net Debt to NOPAT	0.00	0.00	5.31	6.40	4.22	5.58	22.26
Long-Term Debt to NOPAT	0.00	0.00	5.77	6.94	4.58	6.02	23.80
Altman Z-Score	0.00	0.00	1.47	1.46	1.23	1.26	1.12
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	1.33	1.45	1.56	1.54	1.60	1.82
Quick Ratio	0.00	0.39	0.82	0.87	0.84	0.75	0.80
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-2,635	-387	857	1,229	791	582
Operating Cash Flow to CapEx	3,431.82%	913.60%	1,167.57%	453.97%	319.60%	549.12%	434.78%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-1.50	1.96	2.27	1.46	1.15
Operating Cash Flow to Interest Expense	0.00	0.00	8.37	1.96	1.47	1.74	1.39
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	7.66	1.53	1.01	1.42	1.07
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.65	0.61	0.57	0.54	0.51	0.48
Accounts Receivable Turnover	0.00	6.29	5.21	4.32	3.89	4.13	4.62
Inventory Turnover	0.00	2.32	2.62	2.39	2.17	2.04	2.13
Fixed Asset Turnover	0.00	6.64	6.44	6.20	5.69	5.45	5.03
Accounts Payable Turnover	0.00	1.33	1.61	1.83	2.06	2.18	2.76
Days Sales Outstanding (DSO)	0.00	58.00	70.06	84.45	93.80	88.41	78.95
Days Inventory Outstanding (DIO)	0.00	157.27	139.06	152.59	168.20	178.97	171.44
Days Payable Outstanding (DPO)	0.00	275.26	226.70	200.00	177.49	167.50	132.33
Cash Conversion Cycle (CCC)	0.00	-59.99	-17.58	37.04	84.51	99.89	118.05
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	4,920	6,889	7,315	7,997	8,677	8,458
Invested Capital Turnover	0.00	2.66	1.07	0.87	0.82	0.77	0.73
Increase / (Decrease) in Invested Capital	0.00	4,920	1,969	426	682	680	-219
Enterprise Value (EV)	0.00	0.00	15,029	14,385	11,474	11,978	9,929
Market Capitalization	0.00	0.00	6,632	6,178	3,407	3,773	1,859
Book Value per Share	$0.00	$21.64	($5.95)	($3.51)	($0.27)	$1.83	$2.89
Tangible Book Value per Share	$0.00	$1.50	($26.67)	($24.15)	($20.37)	($21.83)	($17.43)
Total Capital	0.00	5,486	7,626	8,021	8,690	9,352	9,396
Total Debt	0.00	0.00	9,134	8,913	8,760	8,880	8,644
Total Long-Term Debt	0.00	0.00	9,125	8,905	8,751	8,860	8,628
Net Debt	0.00	-12	8,397	8,207	8,067	8,205	8,070
Capital Expenditures (CapEx)	88	250	185	189	250	171	161
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	882	435	721	906	975	1,404
Debt-free Net Working Capital (DFNWC)	0.00	894	1,172	1,427	1,599	1,650	1,978
Net Working Capital (NWC)	0.00	894	1,163	1,419	1,590	1,630	1,962
Net Nonoperating Expense (NNE)	147	125	231	366	888	607	176
Net Nonoperating Obligations (NNO)	0.00	-566	8,397	8,207	8,067	8,205	7,706
Total Depreciation and Amortization (D&A)	333	142	195	212	236	277	361
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	13.50%	6.90%	11.68%	14.47%	15.23%	22.59%
Debt-free Net Working Capital to Revenue	0.00%	13.69%	18.59%	23.11%	25.53%	25.77%	31.82%
Net Working Capital to Revenue	0.00%	13.69%	18.45%	22.98%	25.39%	25.46%	31.56%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$5.33	$3.61	$4.01	$3.36	$0.72
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	253.54M	254.08M	255.24M	257.05M	259.50M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$5.31	$3.59	$3.99	$3.33	$0.72
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	254.19M	255.17M	256.27M	259.15M	260.76M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	253.64M	254.38M	255.64M	257.95M	260.32M
Normalized Net Operating Profit after Tax (NOPAT)	3,435	2,334	1,585	1,306	923	984	854
Normalized NOPAT Margin	44.17%	35.73%	25.15%	21.15%	14.74%	15.36%	13.74%
Pre Tax Income Margin	47.52%	42.13%	24.25%	18.17%	10.75%	12.60%	6.84%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	6.93	3.57	2.24	2.49	1.84
NOPAT to Interest Expense	0.00	0.00	6.13	2.94	3.53	2.72	0.72
EBIT Less CapEx to Interest Expense	0.00	0.00	6.21	3.14	1.78	2.18	1.52
NOPAT Less CapEx to Interest Expense	0.00	0.00	5.42	2.50	3.06	2.40	0.40
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	10.73%	31.62%	28.74%	34.38%	47.06%
Augmented Payout Ratio	0.00%	0.00%	10.73%	31.62%	28.74%	34.38%	47.06%

This table displays calculated financial ratios and metrics derived from Organon & Co.'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	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	-	-	-	-	-	-	-	-	-	260,315,650.00	262,600,862.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	260,315,650.00	262,600,862.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.56	0.41
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.61%	5.46%	-0.06%	4.15%	-0.38%	-6.72%	-0.81%	1.26%	-5.34%	-3.50%	-2.26%
EBITDA Growth	3.37%	1.89%	-2.92%	46.18%	16.94%	-25.69%	3.94%	15.17%	-83.14%	32.69%	-17.37%
EBIT Growth	0.82%	0.00%	-5.43%	55.61%	14.17%	-35.42%	-1.64%	11.41%	-114.94%	44.00%	-19.17%
NOPAT Growth	415.24%	11.30%	-16.94%	249.54%	-81.75%	-37.33%	-33.36%	-59.91%	-126.18%	-19.74%	-7.37%
Net Income Growth	405.56%	13.56%	-19.42%	518.97%	-80.04%	-56.72%	-25.64%	-55.43%	-288.07%	67.82%	-25.52%
EPS Growth	404.76%	13.04%	-21.05%	500.00%	-80.19%	-57.69%	-25.33%	-55.80%	-285.71%	66.67%	-28.57%
Operating Cash Flow Growth	48.69%	-33.33%	1,129.63%	-45.98%	-1.76%	-1.32%	-33.73%	87.23%	-63.85%	200.00%	-51.36%
Free Cash Flow Firm Growth	489.68%	-355.17%	122.76%	31.17%	-167.02%	-60.14%	-1,297.76%	-44.66%	135.57%	234.22%	208.81%
Invested Capital Growth	9.32%	8.94%	3.15%	10.82%	8.50%	9.33%	11.54%	6.88%	-2.52%	-6.65%	-6.68%
Revenue Q/Q Growth	5.20%	1.50%	-0.92%	-1.56%	0.63%	-4.96%	5.35%	0.50%	-5.93%	-3.12%	6.71%
EBITDA Q/Q Growth	11.64%	47.95%	0.00%	-6.94%	-10.70%	-10.59%	39.88%	3.12%	-87.69%	619.30%	-9.51%
EBIT Q/Q Growth	15.42%	58.19%	-0.27%	-9.02%	-15.32%	-15.96%	51.90%	3.06%	-110.51%	930.77%	-10.19%
NOPAT Q/Q Growth	692.81%	-74.48%	-3.87%	90.98%	-58.61%	-17.52%	2.22%	14.90%	-127.02%	352.87%	17.97%
Net Income Q/Q Growth	841.38%	-63.19%	-2.99%	84.10%	-69.64%	-20.18%	66.67%	10.34%	-228.13%	171.22%	-26.03%
EPS Q/Q Growth	821.74%	-63.21%	-3.85%	84.00%	-69.57%	-21.43%	69.70%	8.93%	-227.87%	170.51%	-27.27%
Operating Cash Flow Q/Q Growth	52.11%	-80.86%	336.84%	-57.53%	176.60%	-80.77%	193.33%	20.00%	-46.59%	59.57%	-52.44%
Free Cash Flow Firm Q/Q Growth	286.78%	-161.42%	117.30%	-494.52%	-81.88%	-29.00%	-29.39%	52.35%	144.72%	386.85%	4.89%
Invested Capital Q/Q Growth	4.52%	2.38%	-1.11%	4.73%	2.34%	3.16%	0.88%	0.35%	-6.67%	-1.21%	0.85%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	57.26%	59.00%	58.43%	58.34%	56.28%	55.58%	54.83%	53.50%	49.17%	53.63%	54.36%
EBITDA Margin	19.21%	26.63%	26.88%	25.41%	22.55%	21.22%	28.17%	28.90%	3.78%	28.08%	23.81%
Operating Margin	15.89%	23.18%	23.09%	21.43%	18.09%	15.40%	20.33%	22.35%	-6.04%	16.10%	20.67%
EBIT Margin	15.46%	22.63%	22.78%	21.05%	17.71%	15.66%	22.58%	23.16%	-2.59%	22.19%	18.68%
Profit (Net Income) Margin	34.17%	12.39%	12.13%	22.69%	6.85%	5.75%	9.10%	9.99%	-13.60%	10.00%	6.93%
Tax Burden Percent	525.00%	85.17%	82.98%	173.43%	84.50%	86.14%	63.32%	65.84%	138.51%	68.54%	59.02%
Interest Burden Percent	42.11%	64.31%	64.21%	62.16%	45.74%	42.62%	63.61%	65.50%	379.49%	65.74%	62.89%
Effective Tax Rate	-425.00%	14.83%	17.02%	-73.43%	15.50%	13.86%	36.68%	34.16%	0.00%	31.46%	40.98%
Return on Invested Capital (ROIC)	68.26%	15.96%	15.25%	29.53%	11.74%	9.74%	9.44%	10.57%	-3.07%	7.86%	8.56%
ROIC Less NNEP Spread (ROIC-NNEP)	58.59%	14.51%	13.87%	26.71%	10.09%	8.37%	8.70%	9.63%	-4.84%	7.67%	7.52%
Return on Net Nonoperating Assets (RNNOA)	-991.10%	-345.10%	-551.91%	-4,514.71%	408.36%	234.73%	161.19%	111.15%	-62.95%	84.17%	67.95%
Return on Equity (ROE)	-922.84%	-329.14%	-536.66%	-4,485.18%	420.10%	244.48%	170.63%	121.72%	-66.02%	92.02%	76.51%
Cash Return on Invested Capital (CROIC)	16.05%	15.90%	20.23%	17.07%	9.49%	7.12%	3.63%	3.14%	6.79%	11.25%	10.93%
Operating Return on Assets (OROA)	8.41%	12.68%	12.50%	11.35%	9.02%	7.87%	11.06%	11.10%	-1.24%	10.46%	8.58%
Return on Assets (ROA)	18.60%	6.94%	6.66%	12.24%	3.49%	2.89%	4.45%	4.78%	-6.51%	4.71%	3.18%
Return on Common Equity (ROCE)	-922.84%	-329.14%	-536.66%	-4,485.18%	420.10%	244.48%	170.63%	121.72%	-66.02%	92.02%	76.51%
Return on Equity Simple (ROE_SIMPLE)	0.00%	2,181.25%	694.44%	263.89%	0.00%	138.38%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	1,334	320	308	588	243	201	205	236	-64	161	190
NOPAT Margin	83.45%	19.74%	19.16%	37.16%	15.29%	13.27%	12.87%	14.71%	-4.23%	11.03%	12.20%
Net Nonoperating Expense Percent (NNEP)	9.68%	1.45%	1.38%	2.82%	1.65%	1.37%	0.74%	0.94%	1.78%	0.19%	1.04%
Return On Investment Capital (ROIC_SIMPLE)	15.35%	-	-	-	2.60%	2.11%	2.13%	2.42%	-0.68%	1.70%	1.99%
Cost of Revenue to Revenue	42.74%	41.00%	41.57%	41.66%	43.72%	44.42%	45.17%	46.50%	50.83%	46.37%	45.64%
SG&A Expenses to Revenue	29.35%	26.57%	27.19%	26.68%	29.52%	27.76%	28.42%	25.91%	28.73%	29.04%	27.86%
R&D to Revenue	8.39%	7.83%	8.15%	10.24%	8.17%	6.74%	5.96%	5.24%	6.04%	6.37%	5.84%
Operating Expenses to Revenue	41.36%	35.82%	35.35%	36.92%	38.19%	40.19%	34.50%	31.15%	55.21%	37.53%	33.70%
Earnings before Interest and Taxes (EBIT)	247	367	366	333	282	237	360	371	-39	324	291
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	307	432	432	402	359	321	449	463	57	410	371
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	97.38	36.46	9.99	7.99	7.09	3.43	3.06	2.47	1.73	3.53
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)	0.54	0.74	0.83	0.77	0.59	0.61	0.40	0.44	0.30	0.25	0.58
Price to Earnings (P/E)	3.33	4.46	5.25	3.79	4.37	5.12	3.59	5.54	9.94	6.34	17.01
Dividend Yield	8.40%	6.12%	5.49%	5.85%	7.64%	7.52%	8.88%	5.62%	4.75%	1.34%	0.59%
Earnings Yield	30.03%	22.40%	19.05%	26.41%	22.90%	19.53%	27.82%	18.04%	10.06%	15.78%	5.88%
Enterprise Value to Invested Capital (EV/IC)	1.43	1.57	1.63	1.52	1.38	1.37	1.20	1.21	1.17	1.08	1.30
Enterprise Value to Revenue (EV/Rev)	1.83	2.02	2.08	2.01	1.87	1.95	1.72	1.74	1.60	1.46	1.79
Enterprise Value to EBITDA (EV/EBITDA)	7.91	8.87	9.23	8.29	7.37	8.09	7.06	6.87	7.70	6.48	8.36
Enterprise Value to EBIT (EV/EBIT)	9.44	10.68	11.20	9.95	8.89	10.06	8.92	8.75	10.69	8.77	11.45
Enterprise Value to NOPAT (EV/NOPAT)	6.01	6.67	7.10	5.86	8.14	8.92	8.69	12.73	27.39	23.82	31.30
Enterprise Value to Operating Cash Flow (EV/OCF)	14.36	16.84	12.38	13.65	12.76	13.06	13.09	11.52	14.19	10.60	14.89
Enterprise Value to Free Cash Flow (EV/FCFF)	9.34	10.27	8.19	9.38	15.14	20.09	34.83	39.67	17.07	9.26	11.51
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-125.14	181.54	60.11	17.75	18.81	16.52	12.14	9.74	11.49	9.49	8.50
Long-Term Debt to Equity	-125.01	181.35	60.05	17.73	18.77	16.49	11.98	9.69	11.47	9.47	8.43
Financial Leverage	-16.92	-23.79	-39.80	-169.02	40.48	28.05	18.53	11.54	13.00	10.98	9.04
Leverage Ratio	-23.92	-32.88	-56.28	-247.54	62.58	42.45	29.25	18.80	21.22	18.10	15.34
Compound Leverage Factor	-10.07	-21.14	-36.14	-153.88	28.63	18.09	18.61	12.32	80.51	11.90	9.65
Debt to Total Capital	100.81%	99.45%	98.36%	94.67%	94.95%	94.29%	92.39%	90.69%	92.00%	90.47%	89.48%
Short-Term Debt to Total Capital	0.10%	0.10%	0.10%	0.11%	0.21%	0.21%	1.19%	0.46%	0.17%	0.17%	0.77%
Long-Term Debt to Total Capital	100.70%	99.35%	98.26%	94.56%	94.74%	94.08%	91.19%	90.23%	91.83%	90.30%	88.70%
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	-0.81%	0.55%	1.64%	5.33%	5.05%	5.71%	7.61%	9.31%	8.00%	9.53%	10.52%
Debt to EBITDA	6.04	6.03	6.05	5.62	5.46	5.92	5.81	5.55	6.70	6.16	6.51
Net Debt to EBITDA	5.56	5.64	5.56	5.13	5.05	5.55	5.42	5.12	6.26	5.36	5.65
Long-Term Debt to EBITDA	6.03	6.03	6.04	5.61	5.45	5.90	5.74	5.52	6.69	6.15	6.46
Debt to NOPAT	4.58	4.54	4.65	3.97	6.04	6.52	7.15	10.28	23.84	22.65	24.39
Net Debt to NOPAT	4.22	4.24	4.28	3.62	5.58	6.12	6.67	9.50	22.26	19.70	21.16
Long-Term Debt to NOPAT	4.58	4.53	4.65	3.96	6.02	6.50	7.06	10.23	23.80	22.60	24.17
Altman Z-Score	0.97	1.11	1.14	1.12	1.00	0.99	0.95	1.00	0.87	0.99	1.08
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	1.54	1.65	1.64	1.70	1.60	1.67	1.65	1.75	1.82	1.97	1.95
Quick Ratio	0.84	0.83	0.84	0.88	0.75	0.77	0.75	0.80	0.80	1.00	1.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	652	-352	61	-240	-437	-563	-729	-347	155	756	793
Operating Cash Flow to CapEx	502.53%	165.22%	1,037.50%	343.90%	735.85%	234.38%	564.10%	573.91%	313.33%	608.11%	254.76%
Free Cash Flow to Firm to Interest Expense	4.56	-2.69	0.46	-1.91	-2.85	-4.14	-5.56	-2.71	1.42	6.81	7.34
Operating Cash Flow to Interest Expense	2.78	0.58	2.53	1.12	2.55	0.55	1.68	2.06	1.29	2.03	0.99
Operating Cash Flow Less CapEx to Interest Expense	2.22	0.23	2.29	0.79	2.20	0.32	1.38	1.70	0.88	1.69	0.60
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.54	0.56	0.55	0.54	0.51	0.50	0.49	0.48	0.48	0.47	0.46
Accounts Receivable Turnover	3.89	4.24	3.86	3.85	4.13	4.19	4.05	3.98	4.62	4.34	4.12
Inventory Turnover	2.17	2.19	2.13	2.09	2.04	2.05	2.00	1.97	2.13	2.13	2.07
Fixed Asset Turnover	5.69	5.68	5.59	5.57	5.45	5.30	5.17	5.05	5.03	4.98	4.81
Accounts Payable Turnover	2.06	2.68	2.24	2.49	2.18	2.75	2.38	2.62	2.76	2.92	2.74
Days Sales Outstanding (DSO)	93.80	86.03	94.59	94.91	88.41	87.10	90.10	91.79	78.95	84.13	88.64
Days Inventory Outstanding (DIO)	168.20	166.38	171.66	174.29	178.97	177.76	182.10	184.95	171.44	171.64	176.58
Days Payable Outstanding (DPO)	177.49	136.16	162.82	146.47	167.50	132.80	153.47	139.53	132.33	124.83	133.33
Cash Conversion Cycle (CCC)	84.51	116.25	103.42	122.73	99.89	132.07	118.74	137.20	118.05	130.95	131.89
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,997	8,187	8,096	8,479	8,677	8,951	9,030	9,062	8,458	8,356	8,427
Invested Capital Turnover	0.82	0.81	0.80	0.79	0.77	0.73	0.73	0.72	0.73	0.71	0.70
Increase / (Decrease) in Invested Capital	682	672	247	828	680	764	934	583	-219	-595	-603
Enterprise Value (EV)	11,474	12,813	13,202	12,911	11,978	12,250	10,813	10,932	9,929	9,012	10,977
Market Capitalization	3,407	4,674	5,250	4,925	3,773	3,841	2,516	2,776	1,859	1,559	3,556
Book Value per Share	($0.27)	$0.19	$0.56	$1.91	$1.83	$2.10	$2.82	$3.49	$2.89	$3.47	$3.83
Tangible Book Value per Share	($20.37)	($20.62)	($20.00)	($18.93)	($21.83)	($21.54)	($20.42)	($19.67)	($17.43)	($16.71)	($16.22)
Total Capital	8,690	8,762	8,800	9,242	9,352	9,498	9,629	9,734	9,396	9,472	9,559
Total Debt	8,760	8,714	8,656	8,749	8,880	8,956	8,896	8,828	8,644	8,569	8,553
Total Long-Term Debt	8,751	8,705	8,647	8,739	8,860	8,936	8,781	8,783	8,628	8,553	8,479
Net Debt	8,067	8,139	7,952	7,986	8,205	8,409	8,297	8,156	8,070	7,453	7,421
Capital Expenditures (CapEx)	79	46	32	41	53	32	39	46	45	37	42
Debt-free, Cash-free Net Working Capital (DFCFNWC)	906	1,085	1,059	1,213	975	1,229	1,338	1,394	1,404	1,332	1,437
Debt-free Net Working Capital (DFNWC)	1,599	1,660	1,763	1,976	1,650	1,776	1,937	2,066	1,978	2,448	2,569
Net Working Capital (NWC)	1,590	1,651	1,754	1,966	1,630	1,756	1,822	2,021	1,962	2,432	2,495
Net Nonoperating Expense (NNE)	788	119	113	229	134	114	60	76	141	15	82
Net Nonoperating Obligations (NNO)	8,067	8,139	7,952	7,986	8,205	8,409	8,297	8,156	7,706	7,453	7,421
Total Depreciation and Amortization (D&A)	60	65	66	69	77	84	89	92	96	86	80
Debt-free, Cash-free Net Working Capital to Revenue	14.47%	17.09%	16.69%	18.93%	15.23%	19.53%	21.30%	22.12%	22.59%	21.61%	23.45%
Debt-free Net Working Capital to Revenue	25.53%	26.15%	27.78%	30.83%	25.77%	28.22%	30.84%	32.79%	31.82%	39.72%	41.93%
Net Working Capital to Revenue	25.39%	26.01%	27.64%	30.68%	25.46%	27.90%	29.01%	32.07%	31.56%	39.46%	40.72%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.13	$0.78	$0.76	$1.39	$0.43	$0.34	$0.56	$0.61	($0.79)	$0.56	$0.41
Adjusted Weighted Average Basic Shares Outstanding	255.24M	255.70M	257.29M	257.50M	257.05M	257.86M	259.94M	259.98M	259.50M	260.37M	262.61M
Adjusted Diluted Earnings per Share	$2.12	$0.78	$0.75	$1.38	$0.42	$0.33	$0.56	$0.61	($0.78)	$0.55	$0.40
Adjusted Weighted Average Diluted Shares Outstanding	256.27M	258.36M	258.60M	259.76M	259.15M	261.00M	260.16M	260.65M	260.76M	262.90M	270.45M
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	255.64M	257.17M	257.47M	257.54M	257.95M	259.96M	259.97M	259.98M	260.32M	262.60M	262.61M
Normalized Net Operating Profit after Tax (NOPAT)	218	340	308	237	250	275	206	236	-59	182	190
Normalized NOPAT Margin	13.67%	20.95%	19.16%	15.00%	15.71%	18.16%	12.95%	14.71%	-3.90%	12.49%	12.20%
Pre Tax Income Margin	6.51%	14.55%	14.62%	13.08%	8.10%	6.68%	14.37%	15.17%	-9.82%	14.59%	11.75%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.73	2.80	2.79	2.64	1.84	1.74	2.75	2.90	-0.36	2.92	2.69
NOPAT to Interest Expense	9.33	2.44	2.35	4.67	1.59	1.48	1.57	1.84	-0.58	1.45	1.76
EBIT Less CapEx to Interest Expense	1.17	2.45	2.55	2.32	1.50	1.51	2.45	2.54	-0.77	2.59	2.31
NOPAT Less CapEx to Interest Expense	8.77	2.09	2.11	4.34	1.24	1.24	1.27	1.48	-1.00	1.12	1.37
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	28.74%	27.79%	29.60%	22.75%	34.38%	39.73%	32.71%	31.54%	47.06%	8.94%	8.61%
Augmented Payout Ratio	28.74%	27.79%	29.60%	22.75%	34.38%	39.73%	32.71%	31.54%	47.06%	8.94%	8.61%

Financials Breakdown Chart

Key Financial Trends

Organon & Co. (NYSE: OGN) showed a mixed but improving first quarter in 2026, with better profitability than the prior quarter and a stronger cash position, even though leverage remains very high.

Revenue in Q1 2026 was $1.46 billion, down slightly from $1.507 billion in Q4 2025 and below the $1.513 billion reported in Q1 2025. That suggests sales are still relatively stable, but the top line has not been growing meaningfully over the last year.

The bigger story was profitability. Organon returned to net income of $146 million in Q1 2026 after a $205 million net loss in Q4 2025. Operating income also rebounded to $235 million from an operating loss of $91 million in the prior quarter. That improvement came from lower operating costs and the absence of the heavy restructuring burden seen in late 2025.

Compared with the same quarter a year ago, however, earnings were a bit softer. Q1 2025 net income was $87 million versus $146 million in Q1 2026, and operating revenue was slightly higher at $1.513 billion. So the company improved sequentially, but year-over-year growth is still limited.

Cash generation remains an important strength. Q1 2026 operating cash flow was $225 million, up from $141 million in Q4 2025 and $75 million in Q1 2025. That indicates the business is still producing solid cash even with modest earnings.

Organon also benefited from a major divestiture in Q1 2026, which helped drive $386 million in investing cash inflow. Cash and equivalents rose to $1.116 billion at the end of Q1 2026 from $547 million a year earlier. That gives the company more near-term liquidity flexibility.

At the same time, the balance sheet remains highly leveraged. Total liabilities were $12.093 billion versus just $903 million in equity. Long-term debt stood at $8.553 billion, which is still very large relative to earnings and equity.

Another concern is the thin equity cushion. Organon’s common equity improved from deeply negative territory in 2023 to $903 million in Q1 2026, but that is still modest compared with the company’s debt load and overall asset base.

Q1 2026 net income recovered to $146 million after a loss in Q4 2025, showing a sharp sequential turnaround.
Operating income improved to $235 million, versus an operating loss in the prior quarter.
Operating cash flow increased to $225 million, indicating healthy cash generation.
Cash and equivalents rose to $1.116 billion, improving liquidity.
Restructuring charges fell to $31 million from $7 million in Q4 2025 and far below some earlier periods, helping margins.
Sequential operating expenses declined, with total operating expenses dropping to $548 million from $832 million in Q4 2025.
Revenue was broadly stable around the $1.5 billion range, but growth remains limited.
Q1 2026 benefited from divestiture proceeds, which boosted investing cash flow and cash balances.
Total liabilities remain very high at $12.093 billion, keeping financial risk elevated.
Long-term debt of $8.553 billion leaves the company highly leveraged.

Bottom line: Organon’s latest quarter shows a business that can still produce meaningful cash and can swing back to profitability when costs are under control. But the lack of strong revenue growth and the heavy debt burden remain the biggest issues investors should watch closely.

08/03/26 02:06 AM ETAI Generated. May Contain Errors.

Organon & Co. Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Organon & Co.'s financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Organon & Co.'s net income appears to be on a downward trend, with a most recent value of $187 million in 2025, falling from $3.22 billion in 2019. The previous period was $864 million in 2024. Find out what analysts predict for Organon & Co. in the coming months.

Organon & Co.'s total operating income in 2025 was $824 million, based on the following breakdown:

Total Gross Profit: $3.31 billion
Total Operating Expenses: $2.49 billion

Over the last 6 years, Organon & Co.'s total revenue changed from $7.78 billion in 2019 to $6.22 billion in 2025, a change of -20.1%.

Organon & Co.'s total liabilities were at $12.12 billion at the end of 2025, a 4.1% decrease from 2024, and a 162.1% increase since 2020.

In the past 5 years, Organon & Co.'s cash and equivalents has ranged from $12 million in 2020 to $737 million in 2021, and is currently $574 million as of their latest financial filing in 2025.

Over the last 6 years, Organon & Co.'s book value per share changed from 0.00 in 2019 to 2.89 in 2025, a change of 289.3%.

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Financial statements for NYSE:OGN last updated on 7/31/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Organon & Co. (OGN) Financials

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Organon & Co. (OGN) Financials

Annual Income Statements for Organon & Co.

Quarterly Income Statements for Organon & Co.

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Quarterly Cash Flow Statements for Organon & Co.

Annual Balance Sheets for Organon & Co.

Quarterly Balance Sheets for Organon & Co.

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Quarterly Metrics And Ratios for Organon & Co.

Financials Breakdown Chart

Key Financial Trends

Organon & Co. Financials - Frequently Asked Questions

When does Organon & Co.'s fiscal year end?

How has Organon & Co.'s net income changed over the last 6 years?

What is Organon & Co.'s operating income?

How has Organon & Co.'s revenue changed over the last 6 years?

How much debt does Organon & Co. have?

How much cash does Organon & Co. have?

How has Organon & Co.'s book value per share changed over the last 6 years?

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