CluenexOrganon & Co. OGN
Organon & Co. scores weak on business quality (3.7 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Organon & Co. does
Organon & Co develops and delivers women's health products, biosimilars, and established pharmaceutical brands. Hospitals, pharmacies, and healthcare providers purchase these treatments globally. The firm is presenting real-world analyses for VTAMA cream at upcoming dermatology conferences to drive adoption.
- What it does best
Organon excels in managing a durable portfolio of established pharmaceutical brands, generating $6.1 billion in revenue. This massive installed base of mature drugs provides steady cash flow that younger competitors cannot easily replicate without massive upfront acquisition costs.
- The main risk
Heavy debt loads threaten the business, with total debt of $8.6 billion dwarfing cash reserves of $574 million. Interest coverage sits at 2.9x, leaving little margin for error if operating income dips further.
Quality, check by check
Scored against its own industry, from company filings.
Operating margin hits 21.9% while net margin rests at 3.4%, yielding $209 million in net income. Profitability remains constrained by heavy interest expenses eating into operating gains as revenue scales down.
Scale across established healthcare networks forms its moat, placing gross margin at 52.7% and ROE at 23.4%. Rivals face high hurdles duplicating global distribution for its legacy portfolio within a short window.
Revenue fell 2.9% to $6.1 billion, continuing a multi-year slide visible in historical annual summaries where sales drifted down from $6.5 billion. The core growth engine remains flat to fading.
Total debt sits at $8.6 billion against $574 million in cash, leaving interest coverage thin at 2.9x. Free cash flow of $434 million covers modest obligations, but the heavy debt load keeps the balance sheet soft.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
1 sold $200K outside pre-planned sales.
Our sealed record on OGN
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Organon & Co. scores weak on the Cluenex quality check (3.7 of 10), measured against its own industry. Profitability is fair, moat fair, growth slow and financial health weak.
In the last 90 days of SEC Form 4 filings: 1 sold $200K outside pre-planned sales.
Nov 9, 2026.
See OGN today
- Today's verdict on OGN, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “Organon & Co. (OGN)”, https://cluenex.com/stocks/ogn/, data as of Oct 10, 2026.