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Friday 6 November 2026
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Organogenesis
ORGO Healthcare Drug Manufacturers Specialty & Generic
Organogenesis' revenue for fiscal 2025 (year ended December 2025) was $564.2 million, up 17.0% from fiscal 2024.
- Revenue
- −69.9%
- EPS
- −327.3%
- Free cash flow
- −2,048.8%
- Total debt
- +395.3%
Quarter to September 2026, against a year earlier
0.88
0.04
+4.76%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 139 | 199 | 193 | 261 | 338 | 467 | 451 | 433 | 482 | 564 | 352 | +16.9% | 196 | 270 | 301 | (18.9%) | |
| Gross margin, % | 65.26 | 69.16 | 64.43 | 70.90 | 74.19 | 75.57 | 76.71 | 75.42 | 75.99 | 75.62 | 65.56 | +10.4 pt | ||||||
| EBT | (15) | (15) | (65) | (39) | 18 | 63 | 20 | 10 | (3) | 47 | (86) | n/m | ||||||
| EBT margin, % | (10.60) | (7.33) | (33.47) | (14.77) | 5.25 | 13.50 | 4.50 | 2.40 | (0.58) | 8.33 | (24.30) | +18.9 pt | ||||||
| Net income | (15) | (8) | (65) | (39) | 17 | 94 | 16 | 5 | 1 | 37 | (135) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 2.20 | 3.11 | 2.79 | 2.81 | 3.14 | 3.64 | 3.47 | 3.30 | 3.66 | 4.45 | 2.73 | +8.2% | |||||
| Earnings | (0.23) | (0.12) | (0.94) | (0.44) | 0.17 | 0.74 | 0.12 | 0.04 | (0.01) | 0.16 | (1.21) | n/m | ||||||
| Cash flow | (0.08) | (0.05) | (0.87) | (0.36) | 0.05 | 0.48 | 0.19 | 0.24 | 0.11 | (0.08) | 0.08 | +0.6% | ||||||
| Capex | (0.02) | (0.04) | (0.03) | (0.07) | (0.16) | (0.24) | (0.26) | (0.19) | (0.08) | (0.11) | (0.05) | +21.3% | ||||||
| Free cash flow | (0.10) | (0.09) | (0.90) | (0.43) | (0.11) | 0.24 | (0.07) | 0.05 | 0.03 | (0.19) | 0.03 | +8.0% | ||||||
| Book value | 0.00 | (0.13) | 0.68 | 0.60 | 1.32 | 1.88 | 2.04 | 2.12 | 2.00 | 2.37 | 0.93 | n/m | ||||||
| Shares, m | 63 | 64 | 69 | 93 | 108 | 128 | 130 | 131 | 132 | 127 | 128 | +8.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 50.20 | 12.49 | 20.96 | 114.29 | 0.00 | 57.56 | 0.00 | 25.5 | |||||
| P/S | 0.00 | 0.00 | 0.00 | 1.71 | 2.40 | 2.54 | 0.75 | 1.24 | 0.87 | 1.16 | 0.30 | 1.1 | ||||||
| P/B | 0.00 | 0.00 | 15.00 | 8.03 | 5.72 | 4.91 | 1.28 | 1.92 | 1.60 | 2.19 | 0.89 | 4.1 | ||||||
| EV/Sales | 0.00 | 0.00 | 0.00 | 1.87 | 2.40 | 2.45 | 0.68 | 1.15 | 0.61 | 1.03 | 0.27 | 1.0 | ||||||
| EV/FCF | 0.00 | 0.00 | (10.77) | (12.32) | (66.43) | 37.22 | (33.96) | 76.18 | 69.90 | (23.75) | 27.19 | 3.6 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (5) | (3) | (61) | (34) | 5 | 62 | 25 | 31 | 14 | (10) | 10 | +8.7% | |||||
| Capex | (1) | (2) | (2) | (6) | (18) | (31) | (34) | (24) | (10) | (14) | (7) | +31.0% | ||||||
| Free cash flow | (6) | (6) | (62) | (40) | (12) | 31 | (9) | 7 | 4 | (24) | 4 | +16.6% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 1 | (2) | 15 | 66 | 106 | 144 | 148 | 145 | 208 | 262 | 110 | +86.6% | |||||
| Net debt | (1) | 99 | 50 | 40 | 0 | (41) | (33) | (36) | (135) | (82) | (17) | +62.4% | ||||||
| Shareholders’ equity | — | (9) | 47 | 56 | 142 | 241 | 266 | 279 | 263 | 300 | 120 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (10.86) | (11.85) | (41.51) | (20.44) | 6.75 | 25.69 | 3.48 | 1.09 | (0.20) | 3.65 | (34.86) | +14.5 pt | |||||
| ROIC | 0.00 | (3.79) | (33.25) | (19.47) | 11.77 | 22.54 | 5.98 | 3.23 | (0.63) | 12.78 | (52.15) | +12.8 pt | ||||||
| ROE | (339.74) | 170.81 | (408.72) | (76.55) | 17.46 | 49.17 | 6.13 | 1.82 | (0.35) | 7.11 | (81.71) | +346.9 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | 700 | 835 | 910 | 950 | 1,030 | 862 | 869 | 854 | — | +2.9% | |||||
| Revenue/emp, $m | 0.00 | 0.00 | 0.28 | 0.31 | 0.37 | 0.49 | 0.44 | 0.50 | 0.55 | 0.66 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Organogenesis vs peers in Drug Manufacturers Specialty & Generic (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| ADCT ADC Therapeutics SA | $209.4M | — (loss-making) | — (loss-making) | +2.17% (above 0%: growing) | n/m | +50.98% (above 0%: growing) | 87.80% | (132.03%) | Compare |
| GLAS Glass House Brands Inc. | $172.7M | — (loss-making) | — (loss-making) | −1.24% (below 0%: shrinking) | n/m | −123.36% (below 0%: shrinking) | 33.54% | (6.37%) | Compare |
| OGI Organigram Global Inc. | $131.1M | 2.0× | 1.6× | +49.28% (above 0%: growing) | n/m | −192.32% (below 0%: shrinking) | 39.16% | 5.04% | Compare |
| BGM BGM Group Ltd. | $125.7M | 148× | 44.9× | −2.59% (below 0%: shrinking) | −85.71% (below 0%: shrinking) | +3.00% (above 0%: growing) | 7.12% | 0.00% | Compare |
| DERM Journey Medical Corporation | $121.4M | — (loss-making) | — (loss-making) | +23.33% (above 0%: growing) | n/m | −84.08% (below 0%: shrinking) | 66.81% | 2.46% | Compare |
| AKBA Akebia Therapeutics, Inc. | $117.9M | — (loss-making) | — (loss-making) | −37.20% (below 0%: shrinking) | n/m | −94.20% (below 0%: shrinking) | 82.76% | (31.06%) | Compare |
| CRDL Cardiol Therapeutics Inc. | $111.8M | — (loss-making) | — (loss-making) | — | n/m | +10.61% (above 0%: growing) | 0.00% | 0.00% | Compare |
| ORGO Organogenesis | $108.1M | — (loss-making) | — (loss-making) | −69.87% (below 0%: shrinking) | n/m | −2,048.82% (below 0%: shrinking) | 51.83% | (64.87%) | |
| CPIX Cumberland Pharmaceuticals Inc. | $75.1M | — (loss-making) | — (loss-making) | −98.46% (below 0%: shrinking) | n/m | −82.78% (below 0%: shrinking) | 100.00% | (1,898.20%) | Compare |
| Median of peers | $123.5M | — | — | −1.24% | — | −83.43% | 52.99% | (3.18%) |
Pay and ownership Proxy statement filed 30 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 6.81m | 15.18m | 68.79 |
| 2024 | 6.99m | 12.48m | 66.53 |
| 2023 | 6.24m | 10.49m | 85.03 |
| 2022 | 6.01m | (1.04m) | 55.93 |
| 2021 | 4.43m | 6.31m | 192.10 |
Ownership
Directors and executive officers, together
18.80%
Avista Healthcare Partners III, L.P. and affiliated entities
22.90%
Alan A. Ades and affiliated entities
17.30%
Albert Erani and affiliated entities
13.90%
Soleus Capital Master Fund, L.P.
9.70%
Glenn H. Nussdorf
9.50%
Morgan Stanley
8.90%
Organo PFG LLC and affiliated entities
8.70%
Dennis Erani
7.80%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement