Organogenesis Holdings (ORGO) AI Stock Analysis

• Market Cap: $412.94M
• Dividend Yield: N/A
• Average Volume (3M): 566.86K
• Price to Earnings (P/E): 29.3
• Beta (1Y): 1.44
• Revenue Growth: 2.24%
• EPS Growth: -67.56%
• Country: US
• Employees: 869
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): 0.31
• Shares Outstanding: 128,640,670
• 10 Day Avg. Volume: 597,343
• 30 Day Avg. Volume: 566,857
• PEG Ratio: >-0.01
• Price to Book (P/B): 1.51
• Price to Sales (P/S): 1.16
• P/FCF Ratio: -26.84
• Enterprise Value/Market Cap: 0.96
• Enterprise Value/Revenue: 0.70
• Enterprise Value/Gross Profit: 0.93
• Enterprise Value/Ebitda: 5.29
• 1Y Price Target: $8.00
• Price Target Upside: 96.08% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 0.18
• Revenue Forecast (FY): $543.38M

• Rating: 47 Neutral
• Price Target: $3.50 ▼(-14.22% Downside)
• Action: Reiterated Date: 02/27/26
• Date: Action: Reiterated 02/27/26

The score is held down primarily by weak cash-flow quality (negative 2025 OCF/FCF) and a materially challenged 2026 outlook from CMS-driven disruption. Technicals also point to bearish momentum (price below key moving averages, negative MACD). Offsetting factors include the 2025 profitability rebound and moderate leverage/liquidity position noted on the earnings call.

Positive Factors

Strong 2025 revenue and margin rebound

A pronounced 2025 rebound with record Q4 revenue and very strong adjusted EBITDA signals durable commercial traction in advanced wound care. Higher margins enhance cash generation potential when volumes normalize, supporting reinvestment in sales, manufacturing scale and product development over the medium term.

Diversified portfolio and advancing pipeline

Ongoing pipeline work (ReNu BLA) and a multi‑FDA‑category commercial portfolio diversify future revenue streams beyond core wound care. Scaling manufacturing (Smithfield site) reduces supply risk and supports commercialization of new indications, strengthening long‑term growth optionality if regulatory milestones are achieved.

Moderate leverage and capital flexibility

A relatively low debt burden and sizable equity base provide financial flexibility to absorb near-term demand shocks. With no outstanding term debt at year‑end and revolver availability noted elsewhere, the balance sheet supports operational continuity and targeted investments during the anticipated 2026 recovery period.

Negative Factors

CMS-driven 2026 revenue disruption

CMS policy commentary has created clinician confusion and materially reduced utilization, prompting a large guided revenue decline for 2026. This is a structural operational threat: extended reimbursement/policy uncertainty can depress procedure volumes, erode installed base utilization and delay revenue recovery for multiple quarters.

Poor cash conversion in 2025

Despite accounting profitability improvements, negative operating and free cash flow in 2025 indicate weak earnings-to-cash conversion and working capital stress. Persistent cash deficits raise financing and execution risk, constraining investment flexibility and increasing sensitivity to further revenue deterioration or inventory adjustments.

Competitive pricing pressure & policy uncertainty

New payment-policy dynamics have invited low-cost entrants and heightened pricing pressure, which can structurally compress margins and share if reimbursement incentives shift. Prolonged policy ambiguity also impairs clinician adoption, making market-share recovery slower and more costly to regain even after clarifying guidance.

Organogenesis Holdings Business Overview & Revenue Model

Company Description

Organogenesis Holdings Inc., a regenerative medicine company develops, manufactures, and commercializes solutions for the advanced wound care, and surgical and sports medicine markets in the United States. The company's advanced wound care products include Affinity, an amniotic membrane wound covering in which viable cells growth factors/cytokines, and ECM proteins in the native tissue are preserved; Apligraf, a bioengineered living cell therapy that produce spectrum of cytokines and growth factors; Dermagraft, a bioengineered product that produces human collagen, ECM, proteins, and cytokines; NuShield, a wound covering tissue includes both amnion and chorion membranes for spongy/intermediate layer intact; PuraPly , a antimicrobial barrier that enables conformability and fluid drainage; and Novachor, an amniotic membrane wound covering in which viable cells, growth factors/cytokines, and ECM proteins are preserved. Its surgical and sports medicine products comprise NuCel, a dehydrated placental tissue surgically applied to the target tissue to support native healing; ReNu, a cryopreserved suspension used to support healing of soft tissues; and FiberOS and OCMP used as a bone void filler primarily in orthopedic and neurosurgical applications. The company's pipeline products include PuraPly XT and PuraPly MZ to treat chronic, acute, and open wounds; PuraForce, a bioengineered porcine collagen surgical matrix for use in soft tissue reinforcement applications; and TransCyte, a bioengineered tissue for the treatment of partial thickness burns. It serves hospitals, wound care centers, government facilities, ambulatory service centers, and physician office through direct sales force and independent agencies. The company was founded in 1985 and is headquartered in Canton, Massachusetts.

How the Company Makes Money

Organogenesis generates revenue through the sale of its regenerative medicine products, primarily targeting hospitals, clinics, and healthcare providers. The company has established key revenue streams through its advanced wound care products, which include Apligraf and Dermagraft, as well as its surgical biologics line. Additionally, Organogenesis benefits from partnerships with healthcare facilities and providers, which help to expand its market reach and facilitate the adoption of its products. The company also engages in ongoing research and development to innovate and introduce new products, further supporting its revenue growth.

Organogenesis Holdings Financial Statement Overview

Summary

Income statement shows a strong 2025 rebound (re-accelerating revenue growth and improved net margin), and leverage appears moderate. However, cash flow is a major weakness: 2025 operating cash flow and free cash flow were negative, signaling poor earnings-to-cash conversion and higher execution/working-capital risk.

Income Statement

Revenue growth is solid most recently, accelerating to 21.3% in 2025 versus 11.3% in 2024, following two years of modest declines in 2022–2023. Profitability improved meaningfully in 2025 with net margin rising to ~10.1% (from near breakeven in 2024), but results have been volatile over the cycle (2021 was exceptionally strong while 2024 was weak). Margin data quality is mixed in 2025 (gross profit/margins appear missing or inconsistent), which limits confidence in the full margin read-through despite the clear rebound in net income.

Balance Sheet

Leverage remains moderate with 2025 debt-to-equity at ~0.27, improved versus 2020–2022 levels that were closer to ~0.47–0.60, indicating a healthier capital structure over time. Equity is sizable ($300M in 2025) against total debt ($82M), providing balance-sheet flexibility. A key watch-out is the year-over-year equity decline from 2024 ($385M) to 2025 ($300M), alongside rising debt versus 2024, which could reduce cushion if operating performance softens.

Cash Flow

Cash generation weakened sharply in 2025: operating cash flow turned negative (-$10.3M) and free cash flow was also negative (-$24.5M), a material deterioration from positive free cash flow in 2023–2024. Free cash flow growth was also negative in 2025, and the business has shown an uneven pattern over time (positive in 2021 and 2023–2024, negative in 2020 and 2022). Despite the strong rebound in earnings in 2025, the lack of cash conversion is a notable risk signal.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	564.17M	482.04M	433.14M	450.89M	467.36M
Gross Profit	415.06M	366.30M	326.66M	345.87M	353.16M
EBITDA	67.85M	15.76M	36.03M	40.32M	87.00M
Net Income	56.91M	861.00K	4.95M	15.53M	94.20M
Balance Sheet
Total Assets	598.73M	497.89M	460.02M	449.36M	443.26M
Cash, Cash Equivalents and Short-Term Investments	93.68M	135.57M	104.34M	102.48M	113.93M
Total Debt	82.14M	43.31M	119.35M	123.79M	132.30M
Total Liabilities	164.81M	112.57M	181.36M	183.69M	201.92M
Stockholders Equity	433.92M	385.32M	278.66M	265.67M	241.34M
Cash Flow
Free Cash Flow	-24.46M	4.18M	6.55M	-9.04M	30.76M
Operating Cash Flow	-10.31M	14.21M	30.92M	24.86M	61.98M
Investing Cash Flow	-14.15M	-10.03M	-24.36M	-33.90M	-31.22M
Financing Cash Flow	-17.36M	27.64M	-5.50M	-2.20M	-1.04M

Organogenesis Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.08
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ORGO, the sentiment is Negative. The current price of 4.08 is above the 20-day moving average (MA) of 3.85, below the 50-day MA of 4.29, and below the 200-day MA of 4.33, indicating a bearish trend. The MACD of -0.13 indicates Positive momentum. The RSI at 29.99 is Positive, neither overbought nor oversold. The STOCH value of 32.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ORGO.

Organogenesis Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SIGA	77 Outperform	$463.33M	6.22	39.94%	―	-0.85%	-13.50%
EBS	54 Neutral	$428.04M	9.82	10.46%	―	-29.91%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SNDL	49 Neutral	$396.55M	-6.12	-7.82%	―	1.76%	18.31%
EOLS	48 Neutral	$278.73M	-4.71	―	―	15.10%	0.18%
ORGO	47 Neutral	$412.94M	29.32	9.04%	―	2.24%	-67.56%
ESPR	46 Neutral	$800.86M	-6.25	―	―	2.83%	13.61%

Organogenesis Holdings Corporate Events

Organogenesis Names Patrick McGuire Chief Accounting Officer

On February 18, 2026, Organogenesis Holdings Inc. appointed Patrick McGuire, 40, as Chief Accounting Officer and principal accounting officer, effective immediately, elevating him from his prior role as Vice President, Corporate Controller. McGuire, a licensed CPA with extensive tenure at PricewaterhouseCoopers and prior controller experience at Cynosure, will receive an increased annual base salary of $345,000, while former principal accounting officer David Francisco will continue in his role as Chief Financial Officer and principal financial officer, maintaining continuity in the company’s broader financial leadership structure.

The most recent analyst rating on (ORGO) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on Organogenesis Holdings stock, see the ORGO Stock Forecast page.

Organogenesis Extends Long-Term Leases for Key Facilities

On December 22, 2025, Organogenesis Inc. amended its leases for two key facilities at 65 Dan Road and 150 Dan Road in Canton, Massachusetts, extending the terms from their current expiration date of December 31, 2027 to December 31, 2032, with an additional two-year renewal option through December 31, 2034. The amendments lock in a rent structure tied to at least 103% of the 2027 annual rents, with potential adjustments to fair market value and 3% annual increases, formalizing long-term control over critical manufacturing, logistics, and R&D space. Because the properties are owned, directly or indirectly, by major shareholders and a sitting director, the transactions were reviewed as related-party dealings; the company’s Audit Committee concluded the lease amendments were fair, reasonable, and in the best interests of the company and its stockholders, potentially reducing governance risk around these arrangements.

The most recent analyst rating on (ORGO) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Organogenesis Holdings stock, see the ORGO Stock Forecast page.