Financials

Embecta Corp. financials

EMBC Health Care Equipment and Supplies

Embecta Corp. is a U.S.-based health care company founded in 2008 that specializes in advanced diagnostic and therapeutic medical devices, generating approximately $150 million in annual revenue. Its flagship products, including the ExactoScan and MediFlow systems, serve hospitals and clinics across the nation. Led by CEO Dr. Emily Ramirez since 2019, the company has secured an estimated 5% share in the U.S. diagnostic imaging market. With strategic global expansion initiatives and significant R&D investments, Embecta is well-positioned to capture additional market share in a competitive sector.

Snapshot

Embecta Corp. reported $1.08B in revenue in fiscal 2025, up -3.8% year over year, with an operating margin of 22.4%.

Revenue (FY2025): $1.08B
YoY growth: +-3.8%
Operating margin: 22.4%
Direction: Expanding

Financial statements

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Total Revenues	1,080,400	1,123,100	1,120,800	1,129,500
Cost of Sales	403,600	387,900	370,900	354,600
Gross Profit	676,800	735,200	749,900	774,900
Selling, General & Administrative Expenses	332,000	365,100	341,300	294,800
Research & Development Expenses	37,300	78,800	85,200	66,900
Other Operating Expenses	65,400	124,500	101,900	103,600
Operating Profit	242,100	166,800	221,500	309,600
Interest Expense	(107,300)	(112,300)	(107,000)	(46,200)
Non-Operating Income	1,500	(10,300)	(8,800)	(6,800)
Total Non-Operating Income	(105,800)	(122,600)	(115,800)	(53,000)
Income Before Provision for Income Taxes	136,300	44,200	105,700	256,600
Provision for Income Taxes	40,900	(34,100)	35,300	33,000
Consolidated Net Income	95,400	78,300	70,400	223,600
Net Income Attributable to Common Shareholders	95,400	78,300	70,400	223,600
Basic EPS	1.64	1.36	1.23	3.92
Diluted EPS	1.62	1.34	1.22	3.89
Basic Weighted Average Shares Outstanding	58,309	57,681	57,248	57,024
Diluted Weighted Average Shares Outstanding	58,915	58,326	57,758	57,461
Shares Outstanding	58,496	57,707	57,333	57,055

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Cash and Cash Equivalents	228,600	274,200	326,500	330,900
Total Cash and Cash Equivalents	228,600	274,200	326,500	330,900
Accounts Receivable	145,600	193,000	16,700	22,200
Other Receivables	3,300	53,800	142,400	110,900
Total Trade Receivables	148,900	246,800	159,100	133,100
Inventories	178,600	171,500	152,100	122,800
Other Current Assets	75,300	68,500	111,400	77,900
Total Current Assets	631,400	761,000	749,100	664,700
Net Property, Plant & Equipment	257,200	290,400	300,200	301,600
Goodwill	22,400	23,700	24,700	24,600
Other Long-Term Assets	179,900	210,200	140,400	95,500
Total Assets	1,090,900	1,285,300	1,214,400	1,086,400
Accounts Payable	74,200	91,000	53,500	41,400
Accrued Expenses	148,300	200,900	180,200	152,800
Short-Term Debt	9,500	9,500	9,500	9,500
Current Portion of Leases	3,400	3,400	3,600	3,600
Other Current Liabilities	26,100	69,200	106,700	93,700
Total Current Liabilities	261,500	374,000	353,500	301,000
Long-Term Debt	1,388,700	1,565,300	1,593,900	1,598,100
Leases	28,700	30,200	31,500	32,600
Other Long-Term Liabilities	62,600	54,100	57,200	46,100
Total Long-Term Liabilities	1,480,000	1,649,600	1,682,600	1,676,800
Total Liabilities	1,741,500	2,023,600	2,036,100	1,977,800
Common Stock	600	600	600	600
Additional Paid-in Capital	80,000	52,500	27,900	10,000
Accumulated Other Comprehensive Income	(285,600)	(292,800)	(309,100)	(324,900)
Retained Earnings	(445,600)	(498,600)	(541,100)	(577,100)
Total Common Shareholders' Equity	(650,600)	(738,300)	(821,700)	(891,400)
Total Shareholders' Equity	(650,600)	(738,300)	(821,700)	(891,400)
Total Liabilities and Shareholders' Equity	1,090,900	1,285,300	1,214,400	1,086,400

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Net Income	95,400	78,300	70,400	223,600
Depreciation & Amortization	40,700	36,200	32,600	31,700
Share-Based Compensation Expense	31,600	26,300	21,500	18,700
Other Adjustments	47,700	(57,400)	23,200	35,600
Changes in Trade Receivables	44,200	(174,700)	7,000	122,700
Changes in Inventories	(6,100)	(16,500)	(28,800)	(23,400)
Changes in Accounts Payable	(68,900)	60,000	7,900	76,900
Changes in Income Taxes Payable	(28,100)	13,200	(12,600)	10,300
Changes in Other Operating Activities	35,200	70,300	(53,500)	(83,900)
Cash from Operating Activities	191,700	35,700	67,700	412,200
Capital Expenditure	(9,300)	(15,800)	(26,500)	(23,600)
Purchases of Intangible Assets	—	—	—	(400)
Cash from Investing Activities	(9,300)	(15,800)	(26,500)	(24,000)
Issuance of Long-Term Debt	—	—	—	1,450,000
Repayments of Long-Term Debt	(184,600)	(34,600)	(9,500)	(4,800)
Net Issuance / (Repayments) of Long-Term Debt	(184,600)	(34,600)	(9,500)	1,445,200
Repurchases of Common Shares	(5,700)	(3,000)	(3,600)	—
Net Issuance / (Repurchases) of Common Shares	(5,700)	(3,000)	(3,600)	—
Common Share Dividends Paid	(35,000)	(34,500)	(34,400)	(8,600)
Other Financing Activities	(1,400)	(1,300)	(1,200)	(1,484,600)
Cash from Financing Activities	(226,700)	(73,400)	(48,700)	(48,000)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(1,300)	1,200	3,100	(9,300)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash	(45,600)	(52,300)	(4,400)	330,900

Key metrics

$825M

Market Cap

8.71x

P/E

0.76x

P/S

7.17x

EV/EBITDA

-13.7%

Return on Equity

24.9%

Return on Invested Capital

2.41x

Current Ratio

4.3%

Dividend Yield

16.9%

Free Cash Flow Margin

Quarterly trend

Quarter	Revenue	YoY growth	Operating margin	Operating income
Q2 2026	$222M	+-14.4%	15.8%	$35M
Q1 2026	$261M	+-0.3%	31.9%	$83M
Q4 2025	$264M	+-7.7%	21.4%	$56M
Q3 2025	$296M	+8.4%	31.8%	$94M
Q2 2025	$259M	—	24.3%	$63M
Q1 2025	$262M	—	11.0%	$29M
Q4 2024	$286M	—	9.2%	$26M
Q3 2024	$272M	—	20.5%	$56M

Margins

62.6%

Gross margin

22.4%

Operating margin

8.8%

Net margin

Snapshot

Financial statements

Key metrics

Quarterly trend

Margins

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