Organon & Co.

Listed Company

OGNCIK 0001821825NYSELarge AcceleratedPharmaceutical PreparationsFY ends Dec 31

Period

FY 2025

Revenue

$6.22B

Net Income

$187.00M

Total Assets

$12.87B

Equity

$752.00M

Shares Out

260.32M

Op. Cash Flow

$700.00M

Business

Organon & Co. is a global healthcare company focused on improving women’s health through development, commercialization and licensing of pharmaceutical therapies and medical devices. It offers prescription medicines and devices across women’s health, biosimilars and established brands, including contraceptives, fertility treatments, biosimilar oncology and immunology biologics, dermatology and other therapeutic products. The company operates distinct portfolios for Women’s Health, Biosimilars and Established Brands and pursues research, development and strategic collaborations. Organon sells products through wholesalers, retailers, hospitals, government agencies, managed care providers and third-party distributors across more than 140 countries.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	6,216	6,403	6,263	6,174	6,304
Cost of sales	2,903	2,688	2,515	2,294	2,382
Gross profit	3,313	3,715	3,748	3,880	—
Selling, general and administrative	1,721	1,760	1,893	1,704	1,668
Research and development	366	469	528	471	339
Acquired in-process research and development and milestones	6	81	8	107	104
Goodwill impairment	301	0	0	—	—
Restructuring costs	95	31	62	28	3
Interest expense	504	520	527	422	258
Exchange losses	14	26	42	11	4
Other (income) expense, net	−119	21	15	15	17
Income before income taxes	425	807	673	1,122	1,529
Income tax expense (benefit)	238	−57	−350	205	178
Net income	187	864	1,023	917	1,351
Basic (in dollars per share)	0.72	3.36	4.01	3.61	5.33
Diluted (in dollars per share)	0.72	3.33	3.99	3.59	5.31
Basic (in shares)	259	257	255	254	254
Diluted (in shares)	261	259	256	255	254

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	574	675	693	706	737
Accounts receivable (net of allowance for doubtful accounts of $12 in 2025 and $14 in 2024)	1,331	1,358	1,744	1,475	1,382
Inventories (excludes inventories of $236 in 2025 and $215 in 2024 classified in Other assets)	1,406	1,321	1,315	1,003	915
Other current assets	1,033	994	756	747	726
Assets held for sale	8	0	—	—	0
Total Current Assets	4,352	4,348	4,508	3,931	3,760
Property, plant and equipment, net	1,303	1,168	1,183	1,018	973
Goodwill	4,153	4,680	4,603	4,603	4,603
Intangibles, net	1,130	1,414	533	649	651
Other assets	1,539	1,491	1,231	754	694
Noncurrent assets held for sale	390	0	—	—	0
Total Assets	12,867	13,101	12,058	10,955	10,681
Current portion of long-term debt and short-term borrowings	16	20	—	—	—
Trade accounts payable	952	1,153	1,314	1,132	1,382
Accrued and other current liabilities	1,335	1,411	1,389	1,188	1,021
Income taxes payable	85	134	206	184	185
Liabilities held for sale	2	0	—	—	0
Total Current Liabilities	2,390	2,718	2,918	2,512	2,597
Long-term debt	8,628	8,860	8,751	8,905	9,125
Deferred income taxes	57	74	47	19	4
Other noncurrent liabilities	1,008	977	412	411	463
Noncurrent liabilities held for sale	32	0	—	—	0
Total Liabilities	12,115	12,629	12,128	11,847	—
Contingencies (Note 18)	—	—	—	—	—
Common stock, $0.01 par value Authorized - 500,000 Issued and outstanding - 260,316 in 2025 and 257,799 in 2024	3	3	3	3	3
Additional paid-in capital	167	108	25	0	—
Retained earnings	1,109	1,010	443	−331	−998
Accumulated other comprehensive loss	−527	−649	−541	−564	−513
Total Stockholders Equity	752	472	−70	−892	−1,508
Total Liabilities and Stockholders Equity	12,867	13,101	12,058	10,955	10,681

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	156	132	120	96	92
Amortization	205	145	116	116	103
Impairment of assets	9	0	0	—	—
Accretion and changes in fair value in contingent consideration	−50	11	0	—	—
Deferred income tax expense (benefit)	63	−160	−485	−18	−288
Stock-based compensation	77	105	101	75	59
Unrealized foreign exchange (gain) loss	−21	−2	40	−18	18
Gain on debt repurchase	−73	0	0	—	—
Other	87	41	31	26	12
Accounts receivable	79	383	−212	−123	−277
Inventories	−13	−131	−230	−220	−138
Other current assets	−32	−236	−10	−43	353
Trade accounts payable	−217	−157	163	−237	663
Accrued and other current liabilities	−142	−101	102	172	329
Income taxes payable	−61	−65	16	7	−119
Other	139	29	16	−8	55
Net Cash Flows Provided by Operating Activities	700	939	799	858	—
Capital expenditures	−162	−175	−251	−196	−192
Proceeds from sale of property, plant and equipment	1	4	1	7	7
Acquired in-process research and development and milestones	−30	−71	−8	−107	−104
Dermavant acquisition, net of cash acquired	−75	−166	0	0	—
Purchase of product rights and asset acquisition	−124	−105	−2	−124	−192
Net Cash Flows Used in Investing Activities	−390	−513	−260	−420	—
Proceeds from debt	1,055	1,186	80	0	9,470
Repayments of debt	−1,513	−1,197	−338	−108	−112
Payment of long-term debt issuance costs	0	−38	0	0	−118
Employee withholding taxes related to stock-based awards	−15	−22	−17	−11	0
Dividend payments	−88	−297	−294	−290	−145
Net Cash Flows Used in Financing Activities	−561	−368	−569	−433	—
Effect of Exchange Rate Changes on Cash and Cash Equivalents	150	−76	17	−36	23
Net Decrease in Cash and Cash Equivalents	−101	−18	−13	−31	667

Filings

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