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Organon & Co. ( Organon, the Company, we, our, or us ) is a global healthcare company with a mission to deliver impactful medicines and solutions for a healthier every day. With a portfolio of over 70 products across women s health and general medicines, which includes biosimilars, Organon focuses on addressing health needs that uniquely, disproportionately or differently affect women,…
19.72% operating margin is respectable but not wide. ROIC at 10.37%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 2.9% YoY. Margins deteriorated 3.5pp alongside, both lines moving the wrong way.
Free cash flow declined 30% versus the prior year, cash generation momentum has weakened. ROIC dropped from 12.73% to 10.37%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$6.16B
▼ -2.9% YoY
Net Income (TTM)
$246M
▼ -78.4% YoY
Op. Margin
18.94%
▼ -3.5pp YoY
ROIC
9.13%
▼ -2.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$683M
▼ -29.6% YoY
Op. Cash Flow (TTM)
$850M
▼ -25.5% YoY
Net Debt
$7.45B
Cash & Equiv.
$1.12B
5Y CAGR: -1.0%
5Y CAGR: -23.3%
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