Organon & Co. cash flow statement

In fiscal 2025, Organon & Co.'s operations generated $700m of cash; it spent $162m on capital projects, leaving free cash flow of $538m. It returned $88.0m in dividends.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Organon & Co.: cash flow statement, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Cash from operations	3,020	2,284	2,160	858	799	939	700	843
Depreciation and amortisation	49	56	92	96	120	132	156	153
Stock-based pay	41	40	59	75	101	105	77	72
Capital spending	92	255	192	196	251	175	162	168
Free cash flow	2,928	2,029	1,968	662	548	764	538	675
Free cash flow after stock pay	2,887	1,989	1,909	587	447	659	461	603
Dividends paid	0	0	145	290	294	297	88	20

US$ millions unless shown otherwise. Fiscal quarters.

Organon & Co.: cash flow statement, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Cash from operations	390	75	220	264	141	225	107	370
Depreciation and amortisation	34	34	36	40	46	39	34	34
Stock-based pay	26	24	22	24	7	19	25	21
Capital spending	55	32	39	46	45	37	42	44
Free cash flow	335	43	181	218	96	188	65	326
Free cash flow after stock pay	309	19	159	194	89	169	40	305

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Organon & Co.'s SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Organon & Co.