At a glance
Perrigo Company PLC is worth $2.21B. Revenue fell 2.8% to $4.25B in fiscal 2025, at a loss; over 5 years it has grown 0.8% a year. It pays a 7.29% dividend yield, raised every year for at least 9 years, and returned $733.5M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned −19.3% over the past year with dividends reinvested and −14.8% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 32.8% in the 2020 crash (S&P 500: 33.7%) and 22.5% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Perrigo sells over-the-counter (OTC) health products: medicines and wellness items people can purchase without a prescription. Its range covers cough, sinus and allergy remedies, pain relievers and sleep aids, digestive aids, infant formula, oral care, smoking-cessation aids, skin care, women's health products including contraceptives, and vitamins. No single product makes up more than 5% of revenue.
In the U.S. and Canada, Perrigo mainly makes store brands, which are products sold under a retailer's own label. Retailers pay far less for these than for national brands, so they can charge shoppers less and still earn a bigger profit. Customers include drugstore, supermarket and mass-merchant chains, online retailers and wholesalers. Perrigo also owns brands such as Opill, Mederma, Nasonex and Prevacid24HR. It says its store-brand business generates cash to invest in its higher-margin brands.
The Consumer Self-Care Americas segment brought in $2.59 billion in fiscal 2025 (the year ended December 31, 2025). That was 60.8% of the $4.25 billion total. Consumer Self-Care International contributed $1.67 billion, or 39.2%. This segment sells mostly brands in Europe and Australia, such as Compeed, ellaOne, Solpadeine and NiQuitin, through pharmacies and retailers in more than 30 countries. By region, the U.S. supplied 59.7% of revenue and Europe 38%. In early 2026, Perrigo began moving to segments based on product categories.
Price history
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PRGO -19.3% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| CSCA | $2.59B | 60.8% |
| CSCI | $1.67B | 39.2% |
By geography
| United States | $2.54B | 59.7% |
| Europe | $1.62B | 38% |
| All Other Countries | $96.7M | 2.3% |
| Ireland | $42.1M | 1% |
Latest results
- In Q2 FY2026 (ended Jun 27, 2026), revenue was $1.02B, down 3.2% from a year earlier, and net income was $74.5M.
- For fiscal 2025, revenue was $4.25B (-2.8% year over year; +0.8% a year from FY2020 to FY2025) with a -33.5% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +0.8% watch |
|---|---|
| Operating margin | -26.4% weak |
| Free cash flow margin | 3.4% watch |
| Return on equity (FY2025) | -48.6% weak |
| Return on assets (FY2025) | -16.7% weak |
| Net cash (cash minus debt) | $-2.90B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $4.09B | $-162.6M | $465.8M |
| FY2021 | $4.14B | $-68.9M | $4.2M |
| FY2022 | $4.45B | $-140.6M | $210.9M |
| FY2023 | $4.66B | $-12.7M | $303.8M |
| FY2024 | $4.37B | $-171.8M | $244.6M |
| FY2025 | $4.25B | $-1.43B | $145.1M |
Valuation snapshot
| Market value | $2.21B |
|---|---|
| P/E ratio | — |
| Dividend yield | 7.29% |
Rank among 1514 US companies
Market value at each year end
Perrigo Company’s market value went from $11.93B at the end of 2016 to $2.21B on Oct 28, 2026, down 81%; since the end of 2025 it is up 15%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $2.21B | +15.3% |
| 2025 | $1.92B | -45.4% |
| 2024 | $3.51B | -19.6% |
| 2023 | $4.36B | -5.0% |
| 2022 | $4.59B | -11.8% |
| 2021 | $5.20B | -14.7% |
| 2020 | $6.10B | -13.2% |
| 2019 | $7.03B | +33.6% |
| 2018 | $5.26B | -57.1% |
| 2017 | $12.28B | +2.9% |
| 2016 | $11.93B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| PRGO price data to Oct 28, 2026 | +22.5% | -19.3% | -11.2% | -14.8% | -13.0% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +22.5% |
| 2025 | -42.8% |
| 2024 | -16.9% |
| 2023 | -2.5% |
| 2022 | -9.8% |
| 2021 | -11.0% |
| 2020 | -11.9% |
| 2019 | +35.6% |
| 2018 | -55.1% |
| 2017 | +5.6% |
| 2016 | -42.1% |
| 2015 | -13.2% |
| 2014 | +9.3% |
| 2013 | +48.2% |
| 2012 | +7.6% |
| 2011 | +54.2% |
| 2010 | +59.7% |
| 2009 | +24.3% |
| 2008 | -7.2% |
| 2007 | +104.3% |
| 2006 | +17.3% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 12.2% over that stretch · deepest drop along the way 55.1%, back to its old high 10.4 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 28.3% over that stretch · deepest drop along the way 32.8%, not recovered by the end of the data |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 1.3% over that stretch · deepest drop along the way 22.5%, back to its old high 1.6 months after the low |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (25 read): 0 open-market purchases and 0 sales ($0.00).
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 15.2% | Jun 30, 2026 |
| Vanguard Portfolio Management | 5.99% | Mar 31, 2026 |
| Fuller & Thaler Asset Management, Inc. | 5.69% | Dec 31, 2025 |
| Neuberger Berman Group LLC | 5.5% | Dec 31, 2025 |
| STATE STREET CORPORATION | 5.3% | Jun 30, 2025 |
| Vanguard Capital Management | 5.27% | Mar 31, 2026 |
| Dimensional Fund Advisors LP | 4.8% | Mar 31, 2026 |
| T. Rowe Price Associates, Inc. | 0.1% | Aug 31, 2026 |
ETFs with the most weight in PRGO
| XPH SPDR S&P Pharmaceuticals ETF | 3.97% |
| SMIG Bahl & Gaynor Small/Mid Cap Income Growth ETF | 3.34% |
| DIVY Sound Equity Dividend Income ETF | 3.16% |
| PJP Invesco Pharmaceuticals ETF | 3.07% |
| REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF | 2.13% |
| RFV Invesco S&P MidCap 400® Pure Value ETF | 1.7% |
| IHE iShares U.S. Pharmaceuticals ETF | 1.64% |
| PPH VanEck Pharmaceutical ETF | 0.89% |
What could go wrong
- Depends on a few big retailers. Perrigo relies on certain large customers for a significant share of its sales. Its customers include major drugstore, supermarket and mass-merchant chains. Losing one, or trouble at a major chain, could hurt sales significantly.
- Turnaround plan may fall short. Perrigo's 'Three-S' plan aims to stabilize its Americas store-brand (retailer-label) and infant formula businesses and streamline its international unit. Revenue fell 2.8% in fiscal 2025, and restructurings may not work as intended.
- Dividend exceeds free cash flow. Dividends were 109.8% of free cash flow (cash left after running and investing in the business) in fiscal 2025. Perrigo warns it may be limited in paying future dividends.
- Heavy debt for the company's size. As of June 27, 2026, Perrigo owed $3.29 billion and held $400 million of cash and investments. Its debt exceeded its $2.21 billion stock market value on October 28, 2026, which could limit investment.
- Quality, safety and regulatory slip-ups. Medicines and infant formula face strict rules from the U.S. Food and Drug Administration and foreign regulators. A plant disruption or safety scare could halt supply and hurt trust in Perrigo's products.
- Leadership turnover during a turnaround. Perrigo reported executive or board changes in four filings between May and July 2026. Its annual report names management transition and keeping key staff as risks that could disrupt the business.
Recent events
- Investor presentation or announcement
- Quarterly results released
- Executive or board change
- Executive or board change; Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released
- Executive or board change; Shareholder vote results
- Acquisition or sale of assets completed; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Major agreement signed; New debt or financial obligation
For income and retirement investors
Perrigo has raised its dividend at least nine years in a row through fiscal 2025. Dividends per share grew from $0.90 in fiscal 2020 to $1.16 in fiscal 2025, about 5.2% a year. The yield was 7.29% as of October 28, 2026. The payout is stretched. Perrigo posted net losses every year from fiscal 2020 to 2025, so earnings did not cover the dividend. Dividends paid also equaled 109.8% of free cash flow (cash left after running and investing in the business) in fiscal 2025. It made no share buybacks from fiscal 2021 to 2025.
The shares fell 55.1% in the 2008 financial crisis, then regained their prior high by January 2010. They dropped 32.8% in the 2020 COVID crash and had not regained that peak as of October 28, 2026. In the 2022 bear market they fell 22.5% but recovered within two months. A single stock like Perrigo carries more risk than a diversified fund.
Questions investors ask
How does Perrigo make money?
Perrigo makes money selling over-the-counter health products, which are medicines and wellness items that need no prescription. Its Americas segment brought in 60.8% of fiscal 2025 revenue. It mainly makes store-brand products that retailers sell under their own labels, plus owned brands such as Opill and Mederma. The international segment, with 39.2%, sells brands such as Compeed and ellaOne, mostly in Europe. Total revenue was $4.25 billion in the year ended December 31, 2025, but the company reported a net loss of $1.43 billion.
Does Perrigo raise its dividend every year?
Yes, through fiscal 2025. Perrigo has increased its dividend at least nine years in a row, and the streak may be longer. Dividends per share rose from $0.90 in fiscal 2020 to $1.16 in fiscal 2025, about 5.2% a year. Past increases don't guarantee future ones. Dividends paid were more than free cash flow (cash left after running and investing in the business) in fiscal 2025. The company's annual report also warns it may be limited in its ability to pay future dividends.
Why is Perrigo's dividend yield so high?
Perrigo's yield was 7.29% as of October 28, 2026, largely because the share price fell while the dividend kept rising. Yield is the annual dividend divided by the share price, so a lower price pushes it up. The shares lost 42.8% in calendar 2025 and 55% over the five years to October 28, 2026. A high yield often signals doubt about whether a dividend can last. Perrigo's dividends were 109.8% of fiscal 2025 free cash flow (cash left after running and investing in the business).
How much debt does Perrigo have?
Perrigo had $3.29 billion of total debt and about $400 million of cash and investments as of June 27, 2026. That left net debt (debt minus cash) of about $2.9 billion. The debt was larger than the company's stock market value, which was $2.21 billion as of October 28, 2026. Shareholder equity was $2.52 billion on June 27, 2026. Perrigo's annual report warns that its debt could limit its ability to invest in the business and carry out its strategy.
Is Perrigo an American or Irish company?
Perrigo is legally an Irish company, but most of its revenue comes from the U.S. It was incorporated in Ireland in 2013. It then became the successor to Perrigo Company, a Michigan corporation, as part of its acquisition of Elan Corporation. Its shares trade on the New York Stock Exchange. In fiscal 2025, the U.S. supplied 59.7% of revenue, Europe 38% and Ireland 1%. The annual report notes that Irish law may give shareholders less protection than U.S. law.