Embecta
EMBC on Nasdaq. Embecta sells pen needles, syringes, and injection devices to people with diabetes. Market value $333m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to September 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $48.82 of spare cash in the past 12 months. A savings account pays about $4.
You pay 7.2 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 35 cents a year. Above 10 is good.
Quality score: 60 of 100. Price score: 100 of 100. Our list needs 70 on quality and 60 on price.
$5.95 a share, 115% above its 1-year low
Over the past year the price has ranged from $2.77 to $14.91.
Dividend: 8.1% a year
Paid every year for 4 years
Yields this high often come before a cut. Check the company's latest news.
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | ||||
| Revenue | $1.1bn | $1.1bn | $1.1bn | $1.1bn |
| Operating margin | ||||
| Operating margin | 27.4% | 19.8% | 14.9% | 22.4% |
| Debt to equity | ||||
| Debt to equity | n/a | n/a | n/a | n/a |
| Shares outstanding | ||||
| Shares outstanding | 0.06bn | 0.06bn | 0.06bn | 0.06bn |
Health checks
- Free cash flow positive4 of 4 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)7 of 9
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsShrinking, 1.5% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $272 million last quarter, down 8% on a year ago.
- Profit: $21 million, down 54% on a year ago.
- It keeps 22 cents of each $1 of sales as operating profit, up from 19 cents a year earlier.
- About the same number of shares as a year ago.
- Debt is $1.3 billion more than cash, about the same as a year ago.
- Sales did not grow on a year ago in any of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $286m |
| December 2024 | $262m |
| March 2025 | $259m |
| June 2025 | $296m |
| September 2025 | $264m |
| December 2025 | $261m |
| March 2026 | $222m |
| June 2026 | $272m |
| Quarter to | Amount |
|---|---|
| September 2024 | $15m |
| December 2024 | $0 |
| March 2025 | $24m |
| June 2025 | $46m |
| September 2025 | $26m |
| December 2025 | $44m |
| March 2026 | -$4m |
| June 2026 | $21m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 25 November 2025
- Next quarterly (estimated, 10-Q)
- 6 November 2026
Who owns it
3 long-term investors we follow own it, down from 6 last quarter. 320 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Yacktman Asset ManagementStephen Yacktman | $14m | 0.2% | Added |
| Royce & AssociatesChuck Royce | $2m | <0.1% | Added |
| LSV Asset ManagementJosef Lakonishok | $2m | <0.1% | Cut |
Sold out this quarter
Largest holders overall
- BlackRock$15mCut
- Yacktman Asset Management$14mAdded
- Vanguard Capital Management$8m
- Deerfield Management Company, L.P.$8m
- Jefferies Financial Group$8m
- Ameriprise Financial$7mAdded
- Morgan Stanley$7mAdded
- State Street$5mCut
- Geode Capital Management$5mAdded
- Brigade Capital Management, LP$5mNew
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- BlackRock, Inc.Passive investor7.7%−7.3 ptsSince 30 June 2026
- Yacktman Asset ManagementPassive investorat least 6.2%(filed with 1 related holder)Since 31 March 2026
- Vanguard Capital ManagementPassive investor5.1%Since 31 March 2026
- Deerfield Mgmt, L.P.Passive investorat least 4.7%(filed with 3 related holders)Since 31 March 2025
- American Century Capital Portfolios, Inc.Passive investorSold down below 5%Since 31 March 2026
- American Century Investment Management, Inc.Passive investorSold down below 5%Since 30 June 2026
- River Road Asset Management, LLCPassive investorSold down below 5%Since 26 May 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 7.7%−7.3 pts | 30 June 2026 | |
Yacktman Asset Management Passive investor | at least 6.2% (filed with 1 related holder) | 31 March 2026 | |
Vanguard Capital Management Passive investor | 5.1% | 31 March 2026 | |
Deerfield Mgmt, L.P. Passive investor | at least 4.7% (filed with 3 related holders) | 31 March 2025 | |
American Century Capital Portfolios, Inc. Passive investor | Sold down below 5% | 31 March 2026 | |
American Century Investment Management, Inc. Passive investor | Sold down below 5% | 30 June 2026 | |
River Road Asset Management, LLC Passive investor | Sold down below 5% | 26 May 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 4 insiders bought $557,945 of shares on the open market. 1 sold $36,971.
- Morris Milton MayoDirectorSold
- Date
- 4 September 2026
- Shares
- 6,293
- Price
- $5.88
- Value
- $36,971
- Kurdikar DevdattPresident and CEO, DirectorBought
- Date
- 12 August 2026
- Shares
- 30,000
- Price
- $4.70
- Value
- $140,937
- Elguicze JacobSVP and CFOBought
- Date
- 12 August 2026
- Shares
- 20,000
- Price
- $4.67
- Value
- $93,360
- Mann Jeffrey ZPres, Pharm Svc&Prod Mgmt, CLOBought
- Date
- 12 August 2026
- Shares
- 20,000
- Price
- $4.99
- Value
- $99,800
- HOMBACH ROBERT J.DirectorBought
- Date
- 12 August 2026
- Shares
- 45,000
- Price
- $4.97
- Value
- $223,848
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 4 September 2026 | Morris Milton Mayo Director | Sold | 6,293 | $5.88 | $36,971 |
| 12 August 2026 | Kurdikar Devdatt President and CEO, Director | Bought | 30,000 | $4.70 | $140,937 |
| 12 August 2026 | Elguicze Jacob SVP and CFO | Bought | 20,000 | $4.67 | $93,360 |
| 12 August 2026 | Mann Jeffrey Z Pres, Pharm Svc&Prod Mgmt, CLO | Bought | 20,000 | $4.99 | $99,800 |
| 12 August 2026 | HOMBACH ROBERT J. Director | Bought | 45,000 | $4.97 | $223,848 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 25 Nov 2025, plus the 10-Q filed 7 Aug 2026 and 6 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- Sales have shrunk: 1.5% a year.
- It owes more than it owns on paper (negative equity). Often that's from borrowing to buy back shares.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.