Embecta Corp. EMBC
Embecta Corp. (also referred to herein as "Embecta") is a leading global medical device company, primarily focused on providing solutions to improve the health and well-being of people living with diabetes. All references in this Form 10-K to "Embecta", "the Company", "we", "our" or "us" refer to Embecta Corp., a Delaware corporation, and its subsidiaries, unless otherwise indicated by the context.
Building on our 100-year centennial, we believe that our products have become one of the most widely recognized and respected brands in diabetes management throughout the world. We estimate that our products are used by more than 30 million people in over 100 countries for insulin administration and to aid with the daily management of diabetes.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $1.08B | $1.12B | $1.12B | $1.13B | $1.17B | $1.09B | — |
| Cost of revenue | $403.6M | $387.9M | $370.9M | $354.6M | $364.9M | $322.9M | — |
| Gross profit | $676.8M | $735.2M | $749.9M | $774.9M | $800.4M | $762.6M | — |
| R&D | $37.3M | $78.8M | $85.2M | $66.9M | $63.3M | $61.4M | — |
| SG&A | $332.0M | $365.1M | $341.3M | $294.8M | $240.3M | $214.7M | — |
| Total operating expenses | $434.7M | $568.4M | $528.4M | $465.3M | $308.4M | $276.1M | — |
| Operating income | $242.1M | $166.8M | $221.5M | $309.6M | $492.0M | $486.5M | — |
| Pre-tax income | $136.3M | $44.2M | $105.7M | $256.6M | $494.9M | $485.8M | — |
| Income tax | $40.9M | $34.1M | $35.3M | $33.0M | $80.1M | $58.2M | — |
| Net income | $95.4M | $78.3M | $70.4M | $223.6M | $414.8M | $427.6M | — |
| EPS, basic | 1.64 | 1.36 | 1.23 | 3.92 | 7.28 | 7.50 | — |
| EPS, diluted | 1.62 | 1.34 | 1.22 | 3.89 | 7.28 | 7.50 | — |
| Shares, diluted (wtd. avg.) | $58.9M | $58.3M | $57.8M | $57.5M | $57.0M | $57.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $225.5M | $267.5M | $326.5M | $330.9M | $0 | $0 | $0 |
| Receivables | $145.6M | $193.0M | $16.7M | $22.2M | $150.6M | — | — |
| Inventory | $178.6M | $171.5M | $152.1M | $122.8M | $118.0M | — | — |
| Total current assets | $631.4M | $761.0M | $749.1M | $664.7M | $291.8M | — | — |
| Goodwill | $15.4M | $15.6M | $15.6M | $15.7M | $15.6M | — | — |
| Other intangibles | $7.0M | $8.1M | $9.1M | $8.9M | $18.3M | — | — |
| Total assets | $1.09B | $1.29B | $1.21B | $1.09B | $788.0M | — | — |
| Short-term debt | $9.5M | $9.5M | $9.5M | $9.5M | $0 | — | — |
| Total current liabilities | $261.5M | $374.0M | $353.5M | $301.0M | $164.0M | — | — |
| Long-term debt | $1.39B | $1.57B | $1.59B | $1.60B | $0 | — | — |
| Retained earnings | -$445.6M | -$498.6M | -$541.1M | -$577.1M | — | — | — |
| Total equity | -$650.6M | -$738.3M | -$821.7M | -$891.4M | $594.3M | $572.2M | $577.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $191.7M | $35.7M | $67.7M | $412.2M | $456.3M | $498.5M | — |
| Depreciation and amortisation | $40.7M | $36.2M | $32.6M | $31.7M | $38.3M | $38.3M | — |
| Stock-based compensation | $31.6M | $26.3M | $21.5M | $18.7M | $12.8M | $12.7M | — |
| Capital expenditure | $9.3M | $15.8M | $26.5M | $23.6M | $36.8M | $41.9M | — |
| Investing cash flow | -$9.3M | -$15.8M | -$26.5M | -$24.0M | -$39.2M | -$41.9M | — |
| Financing cash flow | -$226.7M | -$73.4M | -$48.7M | -$48.0M | -$417.1M | -$456.6M | — |
| Dividends paid | $35.0M | $34.5M | $34.4M | $8.6M | $0 | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001872789-25-000036.
Others in SIC 3841
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|---|---|---|---|---|
| SYK | STRYKER CORP | $116.27B | 36.1x | 11.2% |
| MMM | 3M CO | $86.93B | 28.1x | 1.5% |
| BSX | BOSTON SCIENTIFIC CORP | $69.27B | 24.6x | 19.9% |
| BDX | BECTON DICKINSON & CO | $50.32B | 31.7x | 8.2% |
| DXCM | DEXCOM INC | $33.17B | 42.1x | 15.6% |
| RMD | RESMED INC | $32.94B | 21.9x | 9.9% |
| MDLN | Medline Inc. | $31.35B | — | 11.5% |
| WST | WEST PHARMACEUTICAL SERVICES INC | $23.93B | 50.1x | 6.3% |