Organon & Co., a global pharmaceutical enterprise, is dedicated to developing and delivering a wide array of prescription therapies. Its women's health ...
Organon & Co., a global pharmaceutical enterprise, is dedicated to developing and delivering a wide array of prescription therapies. Its women's health division features reproductive care products, encompassing birth control and fertility treatments, notably Nexplanon/Implanon, an extended-duration contraceptive. The company's biosimilars collection includes three immune-related medications (Brenzys, Renflexis, Hadlima) and ...Organon & Co., a global pharmaceutical enterprise, is dedicated to developing and delivering a wide array of prescription therapies. Its women's health division features reproductive care products, encompassing birth control and fertility treatments, notably Nexplanon/Implanon, an extended-duration contraceptive. The company's biosimilars collection includes three immune-related medications (Brenzys, Renflexis, Hadlima) and two cancer therapies (Ontruzant, Aybintio). Additionally, Organon provides cardiovascular medications, such as cholesterol-reducing drugs (Zetia, Ezetrol, Vytorin, Inegy, Rosuzet, Zocor) and treatments for high blood pressure (Cozaar, Hyzaar). Their respiratory product line addresses asthma symptoms with brands like Singulair, Dulera, Zenhale, and Asmanex, and manages seasonal allergies through Singulair, Nasonex, Clarinex, and Aerius. Furthermore, their offerings extend to dermatological care (Diprosone, Elocon), bone strengthening (Fosamax), and non-narcotic pain relief (Arcoxia, Diprospan, Celestone). The portfolio also comprises Proscar for treating symptomatic benign prostatic hyperplasia and Propecia for combating male pattern hair loss. The company's products are primarily distributed to pharmaceutical wholesalers, retailers, medical facilities, government entities, and various managed healthcare organizations, including health maintenance organizations and pharmacy benefit managers. Organon & Co. was established in 2020 and is headquartered in Jersey City, New Jersey. The company has around 10,000 employees worldwide, operating in nearly 60 countries with six production sites. Since its spinoff from Merck in June 2021, Organon has focused on a mission to deliver impactful medicines and solutions for a healthier every day, particularly for women. The company's business model emphasizes addressing unmet healthcare needs in women's health, leveraging its established medicines portfolio to generate consistent revenue, and growing its biosimilars segment. Financially, Organon has a market cap of approximately $3.57 billion, with a price-to-earnings ratio around 17.2 and a dividend yield of about 0.6%. Key leadership includes CEO Kevin Ali, who leads the company's strategic vision, and Joseph Morrissey, who has served in senior operational roles. Organon's long-term strategy includes expanding its product pipeline, enhancing access to care, and driving operational efficiency. The company's commitment to women's health is evident in its research and development efforts, allocation of resources, and partnerships with healthcare providers globally.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$6.2B
-2.9%
+6.7%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$187.0M
-78.4%
-26.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+54.1%
-6.8%
+1.4%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+20.7%
-10.9%
+13.8%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+3.0%
-77.7%
-30.7%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$538.0M
-8.5%
-65.4%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+8.7%
-5.8%
-67.6%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
1170.2%
-38.9%
-10.4%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.82x
+13.8%
-1.0%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Hello, and welcome to the Organon Fourth Quarter and Full Year 2025 Earnings Call and webcast. [Operator Instructions]. I would now like to turn the conference over to Jennifer Halchak, Vice President, Investor Relations. You may begin.
Jennifer Halchak: Thank you, operator. Good morning, everyone. With me today are Joe Morrissey, Organon's Interim Chief Executive Officer; and Matt Walsh, our Chief Financial Officer; Carrie Cox, Organon's Board Chair; and Juan Camilo Arjona Ferreira, Organon's Head of R&D, will also be joining for the Q&A portion of this call. Today, we are referencing a presentation that will be visible during this call for those of you on our webcast. This presentation will also be available following this call on the Events and Presentations section of our Organon Investor Relations website. Please reference Slides 2 and 3 for a couple of brief reminders. I would like to caution listeners that certain information discussed by management during this call will include forward-looking statements. Forward-looking statements can be identified because they do not relate strictly to historical or current facts and use words such as potential, should, will, continue, expects, believe, future, estimates, believes, outlook and other words of similar meaning. Actual results could differ materially from those stated or implied by forward-looking statements due to risks and uncertainties associated with the company's business, which are discussed in the company's filings with the Securities and Exchange Commission. This includes our most recent Form 10-K and Forms 10-Q and those amended forms. These statements are based on information as of today, February 12, 2026 and except as required by law, Organon undertakes no obligation to update or revise any of these forward-looking statements. In addition, we will discuss certain non-GAAP financial measures on this call, which should be considered a supplement to and not a substitute for financial measures prepared in accordance with GAAP. Descriptions of these measures and reconciliations to the comparable GAAP measures are included in today's earnings press release and conference call presentation, both of which are available on our Investor Relations website and have been furnished to the SEC on the current report on Form 8-K. I note that while our full year 2026 guidance measures other than revenue are provided on a non-GAAP basis, Organon does not provide GAAP financial measures on a forward-looking basis because we cannot predict with reasonable certainty and without unreasonable effort, the ultimate outcome of legal proceedings, unusual gains and losses, the occurrence of matters creating GAAP tax impacts and acquisition-related expenses. These items are uncertain, depend on various factors and could be material to our results computed in accordance with GAAP. I'd now like to turn the call over to Joe Morrissey.
Joseph Morrissey: Thank you, Jen. Beginning on Slide 4. In 2025, …