Filing Flows › Embecta (EMBC) › Q3 FY26 › vs Q3 FY25
Embecta (EMBC) Q3 FY26 vs Q3 FY25 (year over year)
Embecta's revenue fell $23.8M (-8%) from $296M in Q3 FY25 to $272M in Q3 FY26. The biggest changes: Pen Needles −$39.4M (-18%); Other +$12.4M (+388%); Safety +$1.9M (+5%). Gross margin 56.4% against 66.7% (-10.3 pts).
Embecta, Q3 FY26: revenue $272M (-8% year over year), operating margin 17.9%, net earnings $21.1M, operating cash flow $41.8M. The chart draws each line against Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Gross margin | 56.4% | 66.7% | -10.3 pts |
| Operating margin | 17.9% | 31.8% | -13.9 pts |
| Net margin | 7.8% | 15.4% | -7.6 pts |
| Free cash flow margin | 15.0% | 27.3% | -12.4 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| Pen Needles | $178M | $217M | −$39.4M | -18% |
| Safety | $36.7M | $34.8M | $1.9M | +5% |
| Syringes | $36.6M | $35.1M | $1.5M | +4% |
| Other | $15.6M | $3.2M | $12.4M | +388% |
| Contract Manufacturing | $5.3M | $5.5M | −$200K | -4% |
| Revenue | $272M | $296M | −$23.8M | -8% |
| Gross profit | $153M | $197M | −$43.8M | -22% |
| Cost of revenue | $118M | $98.4M | $20.0M | +20% |
| Operating profit | $48.7M | $94.0M | −$45.3M | -48% |
| Operating expenses | $105M | $103M | $1.5M | +1% |
| Pre-tax earnings | $27.6M | $72.2M | −$44.6M | -62% |
| Other expense, net | $21.1M | $21.8M | −$700K | -3% |
| Research & development | $5.6M | $4.4M | $1.2M | +27% |
| SG&A | $78.6M | $84.4M | −$5.8M | -7% |
| Other operating costs | $20.4M | $14.3M | $6.1M | +43% |
| Net earnings | $21.1M | $45.5M | −$24.4M | -54% |
| Income tax | $6.5M | $26.7M | −$20.2M | -76% |
| Depreciation & amortization | $10.6M | $9.2M | $1.4M | +15% |
| Share-based compensation | $4.2M | $5.9M | −$1.7M | -29% |
| Working capital & other | $5.9M | $20.6M | −$14.7M | -71% |
| Operating cash flow | $41.8M | $81.2M | −$39.4M | -49% |
| Free Cash Flow (company-reported) | $40.7M | $80.8M | −$40.1M | -50% |
| Capital expenditures | $1.1M | $400K | $700K | +175% |
Questions
How much did Embecta's revenue grow year over year in Q3 FY26?
Embecta's revenue fell $23.8M (-8%) from $296M in Q3 FY25 to $272M in Q3 FY26.
What drove Embecta's revenue change in Q3 FY26?
Pen Needles −$39.4M (-18%); Other +$12.4M (+388%); Safety +$1.9M (+5%).