Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 11, 2026

Organon & Co. (OGN)

A forensic read on Organon & Co. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution

Forensic grade

Grey Zone

Financial health

1.8

Distress distance

Clean

Earnings quality

Forensic signals

14.5

P / E (ttm)

24.9%

ROE

$3.6B

Market cap

0.59%

Dividend yield

-2.9%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Organon & Co. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 1.8, placing it in the Grey zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

6.1%

FY2025

Return on invested capital. Return on invested capital is 6.1% in the latest fiscal year and slipping from 16% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.

$301M

FY2025–FY2025

Goodwill impairments. Took $301M of goodwill writedowns across 1 year (FY2025 ($301M)) — about 161% of net income over the span. A large writedown means an acquisition turned out worth far less than was paid — a real mark against M&A discipline.

+0.7%/yr

FY2022–FY2025

Share count. Diluted share count changed +2% over the last 3 years to FY2025 (+0.7%/yr). Roughly flat — the count is neither shrinking nor growing meaningfully. Per-share value isn't being meaningfully helped or hurt by the count.

-71%

FY2024→FY2025

Dividend — cut. The payout was CUT ~71% in FY2025 (from FY2024). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.

Key fundamentals

Latest Revenue$6.22B

Revenue Growth YoY-2.9%

Revenue CAGR (3yr)+0.2%

Net Margin3.0%

Free Cash Flow$538.0M

Return on Equity24.9%

Debt / Equity11.49x

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.