Valuation, from the filing
| Public float | $2.50B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $9.60 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 13.4× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 0.4× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 3.3× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
13.4× earnings today, against a median of 6.1× across 5 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $2.50B | 13.4× | |
| 2024-06-30 | $5.30B | 6.1× | |
| 2023-06-30 | $5.30B | 5.2× | |
| 2022-06-30 | $8.60B | 9.4× | |
| 2021-06-30 | $7.67B | 5.7× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Pharmaceutical Preparations filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Long-term debt / equity | 11.47x | 97th | |
| SBC / revenue | 1.2% | 6th | |
| Effective tax rate | 56.0% | 94th | |
| Net margin | 3.0% | 79th | |
| FCF margin | 8.7% | 78th | |
| Current ratio | 1.82x | 26th | |
| Gross margin | 53.3% | 30th | |
| Revenue YoY growth | -2.9% | 39th | |
| CapEx / revenue | 2.6% | 56th |
Organon & Co. (OGN) reported revenue of $6.22B and net income of $187.00M for the fiscal year ended 2025-12-31. This page shows 7 annual periods of income statement, balance sheet and cash flow figures normalized from Organon & Co.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Pharmaceutical Preparations.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|
| Revenue | $6.22B | $6.40B | $6.26B | $6.17B | $6.30B | $6.53B | $7.78B |
| Cost of revenue | $2.90B | $2.69B | $2.52B | $2.29B | $2.38B | $2.12B | $2.27B |
| Gross profit | $3.31B | $3.72B | $3.75B | $3.88B | $3.92B | $4.41B | $5.50B |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $187.00M | $864.00M | $1.02B | $917.00M | $1.35B | $2.16B | $3.22B |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | $443.00M | $210.00M | $220.00M |
| Weighted-average diluted shares | shares 260.76M | shares 259.15M | shares 256.27M | shares 255.17M | shares 254.19M | shares 253.52M | shares 253.52M |
| Pretax income | $425.00M | $807.00M | $673.00M | $1.12B | $1.53B | $2.75B | $3.70B |
| Income tax expense | $238.00M | -$57.00M | -$350.00M | $205.00M | $178.00M | $496.00M | $390.00M |
| Diluted EPS | $0.72 | $3.33 | $3.99 | $3.59 | $5.31 | $8.52 | $12.69 |
| Selling, general & administrative | $1.72B | $1.76B | $1.89B | $1.70B | $1.67B | $1.36B | $1.44B |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|
| Cash & equivalents | $574.00M | $675.00M | $693.00M | $706.00M | $737.00M | $12.00M | Unavailable |
| Total assets | $12.87B | $13.10B | $12.06B | $10.96B | $10.68B | $10.11B | Unavailable |
| Current assets | $4.35B | $4.35B | $4.51B | $3.93B | $3.76B | $3.57B | Unavailable |
| Total liabilities | $12.12B | $12.63B | $12.13B | $11.85B | Unavailable | Unavailable | Unavailable |
| Current liabilities | $2.39B | $2.72B | $2.92B | $2.51B | $2.60B | $2.67B | Unavailable |
| Total equity incl. NCI | $752.00M | $472.00M | -$70.00M | -$892.00M | -$1.51B | $5.49B | $7.04B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | $1.41B | $1.32B | $1.32B | $1.00B | $915.00M | $913.00M | Unavailable |
| Accounts receivable | $1.33B | $1.36B | $1.74B | $1.48B | $1.38B | $1.04B | Unavailable |
| Goodwill | $4.15B | $4.68B | $4.60B | $4.60B | $4.60B | $4.60B | Unavailable |
| Long-term debt | $8.63B | $8.86B | $8.75B | $8.90B | $9.12B | $0 | Unavailable |
| Accounts payable | $952.00M | $1.15B | $1.31B | $1.13B | $1.38B | $259.00M | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $700.00M | $939.00M | $799.00M | $858.00M | Unavailable | Unavailable | Unavailable |
| Capital expenditures | $162.00M | $175.00M | $251.00M | $196.00M | $192.00M | $255.00M | $92.00M |
| Investing cash flow | -$390.00M | -$513.00M | -$260.00M | -$420.00M | Unavailable | Unavailable | Unavailable |
| Financing cash flow | -$561.00M | -$368.00M | -$569.00M | -$433.00M | Unavailable | Unavailable | Unavailable |
| Net change in cash | -$101.00M | -$18.00M | -$13.00M | -$31.00M | $667.00M | -$249.00M | $75.00M |
| Stock-based compensation | $77.00M | $105.00M | $101.00M | $75.00M | $59.00M | $40.00M | $41.00M |
| Common dividends paid | $88.00M | $297.00M | $294.00M | $290.00M | $145.00M | $0 | $0 |
| Common share repurchases | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|
| Free cash flow | $538.00M | $764.00M | $548.00M | $662.00M | Unavailable | Unavailable | Unavailable |
| Gross margin | 53.3% | 58.0% | 59.8% | 62.8% | 62.2% | 67.6% | 70.8% |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | 8.7% | 11.9% | 8.7% | 10.7% | Unavailable | Unavailable | Unavailable |
| SBC / revenue | 1.2% | 1.6% | 1.6% | 1.2% | 0.9% | 0.6% | 0.5% |
| Current ratio | 1.82x | 1.60x | 1.54x | 1.56x | 1.45x | 1.33x | Unavailable |
| Revenue YoY growth | -2.9% | 2.2% | 1.4% | -2.1% | -3.5% | -16.0% | Unavailable |
| Net margin | 3.0% | 13.5% | 16.3% | 14.9% | 21.4% | 33.1% | 41.4% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 2.8% |
| CapEx / revenue | 2.6% | 2.7% | 4.0% | 3.2% | 3.0% | 3.9% | 1.2% |
| Long-term debt / equity | 11.47x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 56.0% | -7.1% | -52.0% | 18.3% | 11.6% | 18.0% | 10.6% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open OGN in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.