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Organon vs Elanco Animal Health: OGN and ELAN compared
Organon is the larger company: $1.6B of revenue in its latest quarter (Q3 2026) against $1.3B for Elanco Animal Health (Q3 2026). Elanco Animal Health is growing faster (+11% against -2% a year earlier). Organon is more profitable, with an operating margin of 16.2% against 1.9%.
Where the money goes: OGN and ELAN
Organon (OGN) · Q3 2026
Organon, Q3 2026: revenue $1.6B (-2% year over year), operating margin 16.2%, net earnings $164M, operating cash flow $370M. The chart follows the revenue to costs, profit and cash.
Elanco Animal Health (ELAN) · Q3 2026
Elanco Animal Health, Q3 2026: revenue $1.3B (+11% year over year), operating margin 1.9%, net earnings $18.0M, operating cash flow $216M. The chart follows the revenue to costs, profit and cash.
| Organon (OGN) | Elanco Animal Health (ELAN) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $1.6B | $1.3B |
| Revenue growth, Y/Y | -2% | +11% |
| Gross margin | 55.2% | 56.9% |
| Operating margin | 16.2% | 1.9% |
| Net earnings | $164M | $18.0M |
| Net margin | 10.4% | 1.4% |
| Operating cash flow | $370M | $216M |
| Free cash flow | $326M | $156M |
| Market value | $3.8B | $13.1B |
| P/E | 18.0× | — |
| Analysts’ mean target | $10.33 | $30.69 |
Where the revenue comes from
Elanco Animal Health
- Farm Animal:: $631M (50%)
- Pet Health: $608M (48%)
- Contract Manufacturing: $26.0M (2%)
Questions
Which is bigger, Organon or Elanco Animal Health?
Organon is the larger company: $1.6B of revenue in its latest quarter (Q3 2026) against $1.3B for Elanco Animal Health (Q3 2026).
Is Organon or Elanco Animal Health growing faster?
Elanco Animal Health is growing faster (+11% against -2% a year earlier).
Which is more profitable, Organon or Elanco Animal Health?
Organon is more profitable, with an operating margin of 16.2% against 1.9%.
More: Organon earnings · how Organon makes money · Elanco Animal Health earnings · how Elanco Animal Health makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 30, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.