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Side-by-side financial comparison of ENERGIZER HOLDINGS, INC. (ENR) and Organon & Co. (OGN). Click either name above to swap in a different company.
Organon & Co. is the larger business by last-quarter revenue ($1.5B vs $778.9M, roughly 1.9× ENERGIZER HOLDINGS, INC.). ENERGIZER HOLDINGS, INC. runs the higher net margin — -0.4% vs -13.6%, a 13.2% gap on every dollar of revenue. On growth, ENERGIZER HOLDINGS, INC. posted the faster year-over-year revenue change (6.5% vs -5.3%). ENERGIZER HOLDINGS, INC. produced more free cash flow last quarter ($124.2M vs $96.0M). Over the past eight quarters, ENERGIZER HOLDINGS, INC.'s revenue compounded faster (8.4% CAGR vs -3.6%).
Energizer Holdings, Inc. is an American manufacturer and one of the world's largest manufacturers of batteries, headquartered in Clayton, Missouri. It produces batteries under the Energizer, Ray-O-Vac, Varta, and Eveready brand names and formerly owned several personal care businesses until it separated that side of the business into a new company called Edgewell Personal Care in 2015.
Organon & Co. is an American pharmaceutical company headquartered in Jersey City, New Jersey. Organon specializes in the following core therapeutic fields: reproductive medicine, contraception, psychiatry, hormone replacement therapy (HRT), and anesthesia. Organon produces all its products outside of the United States but receives a third of its revenue from the United States.
ENR vs OGN — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $778.9M | $1.5B |
| Net Profit | $-3.4M | $-205.0M |
| Gross Margin | 32.9% | 49.2% |
| Operating Margin | -0.6% | -9.8% |
| Net Margin | -0.4% | -13.6% |
| Revenue YoY | 6.5% | -5.3% |
| Net Profit YoY | -115.2% | -288.1% |
| EPS (diluted) | — | $-0.78 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $778.9M | $1.5B | ||
| Q3 25 | $832.8M | $1.6B | ||
| Q2 25 | $725.3M | $1.6B | ||
| Q1 25 | $662.9M | $1.5B | ||
| Q4 24 | $731.7M | $1.6B | ||
| Q3 24 | $805.7M | $1.6B | ||
| Q2 24 | $701.4M | $1.6B | ||
| Q1 24 | $663.3M | $1.6B |
| Q4 25 | $-3.4M | $-205.0M | ||
| Q3 25 | $34.9M | $160.0M | ||
| Q2 25 | $153.5M | $145.0M | ||
| Q1 25 | $28.3M | $87.0M | ||
| Q4 24 | $22.3M | $109.0M | ||
| Q3 24 | $47.6M | $359.0M | ||
| Q2 24 | $-43.8M | $195.0M | ||
| Q1 24 | $32.4M | $201.0M |
| Q4 25 | 32.9% | 49.2% | ||
| Q3 25 | 36.6% | 53.5% | ||
| Q2 25 | 55.1% | 54.8% | ||
| Q1 25 | 39.1% | 55.6% | ||
| Q4 24 | 36.8% | 56.3% | ||
| Q3 24 | 38.1% | 58.3% | ||
| Q2 24 | 39.5% | 58.4% | ||
| Q1 24 | 38.2% | 59.0% |
| Q4 25 | -0.6% | -9.8% | ||
| Q3 25 | 6.4% | 15.2% | ||
| Q2 25 | 22.6% | 14.4% | ||
| Q1 25 | 5.5% | 6.7% | ||
| Q4 24 | 4.1% | 8.1% | ||
| Q3 24 | 7.4% | 13.1% | ||
| Q2 24 | -8.2% | 14.6% | ||
| Q1 24 | 6.4% | 14.5% |
| Q4 25 | -0.4% | -13.6% | ||
| Q3 25 | 4.2% | 10.0% | ||
| Q2 25 | 21.2% | 9.1% | ||
| Q1 25 | 4.3% | 5.8% | ||
| Q4 24 | 3.0% | 6.8% | ||
| Q3 24 | 5.9% | 22.7% | ||
| Q2 24 | -6.2% | 12.1% | ||
| Q1 24 | 4.9% | 12.4% |
| Q4 25 | — | $-0.78 | ||
| Q3 25 | — | $0.61 | ||
| Q2 25 | — | $0.56 | ||
| Q1 25 | — | $0.33 | ||
| Q4 24 | — | $0.42 | ||
| Q3 24 | — | $1.38 | ||
| Q2 24 | — | $0.75 | ||
| Q1 24 | — | $0.78 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $214.8M | $574.0M |
| Total DebtLower is stronger | — | $8.6B |
| Stockholders' EquityBook value | $141.3M | $752.0M |
| Total Assets | $4.4B | $12.9B |
| Debt / EquityLower = less leverage | — | 11.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $214.8M | $574.0M | ||
| Q3 25 | $236.2M | $672.0M | ||
| Q2 25 | $171.1M | $599.0M | ||
| Q1 25 | $139.3M | $547.0M | ||
| Q4 24 | $195.9M | $675.0M | ||
| Q3 24 | $216.9M | $763.0M | ||
| Q2 24 | $146.7M | $704.0M | ||
| Q1 24 | $158.1M | $575.0M |
| Q4 25 | — | $8.6B | ||
| Q3 25 | $3.4B | $8.8B | ||
| Q2 25 | $3.2B | $8.9B | ||
| Q1 25 | $3.2B | $9.0B | ||
| Q4 24 | $3.1B | $8.9B | ||
| Q3 24 | $3.2B | $8.7B | ||
| Q2 24 | $3.2B | $8.7B | ||
| Q1 24 | $3.2B | $8.7B |
| Q4 25 | $141.3M | $752.0M | ||
| Q3 25 | $169.9M | $906.0M | ||
| Q2 25 | $183.2M | $733.0M | ||
| Q1 25 | $133.9M | $542.0M | ||
| Q4 24 | $140.6M | $472.0M | ||
| Q3 24 | $135.8M | $493.0M | ||
| Q2 24 | $123.4M | $144.0M | ||
| Q1 24 | $191.3M | $48.0M |
| Q4 25 | $4.4B | $12.9B | ||
| Q3 25 | $4.6B | $13.6B | ||
| Q2 25 | $4.5B | $13.5B | ||
| Q1 25 | $4.2B | $13.2B | ||
| Q4 24 | $4.2B | $13.1B | ||
| Q3 24 | $4.3B | $12.8B | ||
| Q2 24 | $4.2B | $12.2B | ||
| Q1 24 | $4.3B | $11.9B |
| Q4 25 | — | 11.49× | ||
| Q3 25 | 20.28× | 9.74× | ||
| Q2 25 | 17.57× | 12.14× | ||
| Q1 25 | 23.56× | 16.52× | ||
| Q4 24 | 22.17× | 18.81× | ||
| Q3 24 | 23.51× | 17.75× | ||
| Q2 24 | 26.04× | 60.11× | ||
| Q1 24 | 16.86× | 181.54× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $149.5M | $141.0M |
| Free Cash FlowOCF − Capex | $124.2M | $96.0M |
| FCF MarginFCF / Revenue | 15.9% | 6.4% |
| Capex IntensityCapex / Revenue | 3.2% | 3.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $145.0M | $538.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $149.5M | $141.0M | ||
| Q3 25 | $61.5M | $264.0M | ||
| Q2 25 | $21.4M | $220.0M | ||
| Q1 25 | $-12.8M | $75.0M | ||
| Q4 24 | $77.0M | $390.0M | ||
| Q3 24 | $168.9M | $141.0M | ||
| Q2 24 | $45.8M | $332.0M | ||
| Q1 24 | $36.8M | $76.0M |
| Q4 25 | $124.2M | $96.0M | ||
| Q3 25 | $46.7M | $218.0M | ||
| Q2 25 | $7.9M | $181.0M | ||
| Q1 25 | $-33.8M | $43.0M | ||
| Q4 24 | $42.4M | $335.0M | ||
| Q3 24 | $141.5M | $99.0M | ||
| Q2 24 | $27.3M | $300.0M | ||
| Q1 24 | $10.3M | $30.0M |
| Q4 25 | 15.9% | 6.4% | ||
| Q3 25 | 5.6% | 13.6% | ||
| Q2 25 | 1.1% | 11.4% | ||
| Q1 25 | -5.1% | 2.8% | ||
| Q4 24 | 5.8% | 21.0% | ||
| Q3 24 | 17.6% | 6.3% | ||
| Q2 24 | 3.9% | 18.7% | ||
| Q1 24 | 1.6% | 1.8% |
| Q4 25 | 3.2% | 3.0% | ||
| Q3 25 | 1.8% | 2.9% | ||
| Q2 25 | 1.9% | 2.4% | ||
| Q1 25 | 3.2% | 2.1% | ||
| Q4 24 | 4.7% | 3.5% | ||
| Q3 24 | 3.4% | 2.7% | ||
| Q2 24 | 2.6% | 2.0% | ||
| Q1 24 | 4.0% | 2.8% |
| Q4 25 | — | — | ||
| Q3 25 | 1.76× | 1.65× | ||
| Q2 25 | 0.14× | 1.52× | ||
| Q1 25 | -0.45× | 0.86× | ||
| Q4 24 | 3.45× | 3.58× | ||
| Q3 24 | 3.55× | 0.39× | ||
| Q2 24 | — | 1.70× | ||
| Q1 24 | 1.14× | 0.38× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ENR
| Alkaline Batteries | $666.5M | 86% |
| Auto Care | $93.7M | 12% |
| Lights | $18.7M | 2% |
OGN
Segment breakdown not available.
