Feed / OGN

Organon & Co.

OGN

Healthcare · 13.64 -0.4% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

Organon & Co.'s current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 17 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 10 directly disclosed connections are confirming.

Company-0.4% todayVolume comparison unavailable
Market group0 of 17 activeHealthcare & Credit Tech · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • OGN's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if OGN's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Healthcare · Drug Manufacturers - General

No new filing conclusion is available. 0 of 17 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 10 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • OGN's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods7
Price observations319
Usable filing statements176
Verified relationships11
Evidence supporting the case
  • Operating cash flow covered net income at 3.74x in the latest annual period.
Evidence challenging the case
  • Latest annual revenue changed -2.9% year over year.
  • Net margin changed -10.5 percentage points in the latest annual period.
  • Credit and interest rates has repeated adverse evidence across 5 filings.
  • Industry cycle and competition has repeated adverse evidence across 4 filings.
  • Product pipeline and R&D has repeated adverse evidence across 4 filings.
  • Customer concentration has repeated adverse evidence across 3 filings.
  • Restructuring and cost reductions has repeated adverse evidence across 3 filings.
Questions before a position
  • P/E is 15% below the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 49% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

13.64
6m+87.0%12m+48.2%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$6.3B-3.5%$5.31+0.3%
2022-12-31$6.2B-2.1%$3.59+0.4%
2023-12-31$6.3B+1.4%$3.99+0.4%
2024-12-31$6.4B+2.2%$3.33+1.1%
2025-12-31$6.2B-2.9%$0.72+0.6%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesnegative · 5 filings
Interest Expense Interest expense decreased 18% and 14% for the three and six months ended June 30, 2026, compared to 2025, respectively, due to the repurchase and cancellation of approximately $419 million of the Company’s 5.125% notes due in 2031 (the “2031…
10-Q · Jul 31, 2026
Demand and volumemixed · 5 filings
Combined global sales of Cozaar ® (losartan) and Hyzaar ® (losartan / hydrochlorothiazide), which are medicines for the treatment of hypertension, declined 10% and 3% for the three and six months ended June 30, 2026, compared to 2025, respectively, driven by…
10-Q · Jul 31, 2026
Pricing and mixmixed · 5 filings
This decline during these periods was primarily attributable to decreased demand due to less favorable medical guidelines in certain international markets, most recently in China, as well as temporary supply constraints in Japan and mandatory price reductions…
10-Q · Jul 31, 2026
Foreign exchangemixed · 4 filings
Gross Profit update Gross profit decreased 3% and 5% for the three and six months ended June 30, 2026, compared to 2025, respectively, due to the impact of unfavorable volume, pricing and product mix and unfavorable foreign exchange.
10-Q · Jul 31, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 0.6× · EV/sales 1.9×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

13.64-0.4% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for OGN. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for OGN. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind OGN

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

MRKMerck & Co., Inc.supplierMay 4, 2026

As part of our post-spinoff plan to further optimize our manufacturing and supply network, we will continue to separate our supply chain through planned exits from supply agreements with Merck through 2031.

MRKMerck & Co., Inc.customerFeb 24, 2026

This buy-in, a consequence of exiting our interim operating model agreement with Merck, resulted in a reduction of sales in the first half of 2024.

Depended on by

ROIVRoivant Sciences Ltd.distributorMay 20, 2026

Income (loss) from discontinued operations, net of tax Income (loss) from discontinued operations, net of tax consists of the gain on sale of subsidiary interests for the year ended March 31, 2025 resulting from the sale of our entire equity interest in our m…

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 13 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

OGN is currently a Follower in the organic co-movement group Healthcare & Credit Tech. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for OGN; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.