Perrigo Company plc Dossier - Source-backed chat

Perrigo Company plc

PRGONYSE

SectorHealth Care

IndustryDrug Manufacturers - Specialty & Generic

Beta (adjusted)0.69

Intrinsic Value $24.98median of 3 methodsbased on filings through 27 Jun 2026

Market Price $14.02Price as of 1 Oct 2026

Significantly undervaluedIntrinsic value is 78% above the market price

−50% · IV below pricenear fair value ±15%IV above price · +50%

marker beyond scale (+78%)

Data confidence Sign in to view data confidence

Market Cap $1.9B

Enterprise Value $4.8B

Shares Outstanding 139.4M diluted

Moat Rating None

Next Earnings Date4 Nov 2026

Last ex-dividend28 Aug 2026

All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference.

Thesis

Street consensus, scenarios, merits, risks, and invalidation triggers

AI-assisted

Thesis Summary

Perrigo is navigating a complex transition year in 2026, marked by an abrupt leadership change in June 2026 and persistent category softness in consumer self-care. While the company's 'Three-S' strategy (Stabilize, Streamline, Strengthen) and 'Project Energize' have successfully unlocked structural cost savings, top-line headwinds from retailer destocking and weak cough/cold seasons continue to pressure organic growth. The appointment of board member Albert A. Manzone as Interim CEO provides near-term continuity, and the completed divestiture of the Dermacosmetics business for up to €332.6 million supports necessary debt reduction. However, until a permanent CEO is named and the strategic review of the structurally challenged Infant Formula business is finalized, a Hold recommendation is warranted to monitor execution and margin recovery.

This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today.

Street view · analyst 12-month targets4 analysts · as of 18 Aug 2026

Low · most bearish analyst$14.00

Mean target$16.50

High · most bullish analyst$20.00

Our research · scenarios, merits, risks, and invalidation triggersResearch as of 18 Sep 2026

Scenarios · 12-month scenario targetsAnchored at research date

Bear CaseDownside scenario

The search for a permanent CEO drags on, causing operational delays. Retailer destocking persists longer than anticipated, and intense competition in the infant formula space further erodes margins, leading to a downward revision of full-year 2026 guidance.

Base CaseCentral scenario

The interim leadership successfully maintains strategic continuity, and second-half performance improves as lapped manufacturing volume headwinds ease. Cost savings from the Operational Enhancement Program support adjusted operating margins, keeping full-year All In adjusted EPS within the guided range of $2.00 to $2.30.

Scenarios are anchored to street consensus at the research date, with our probabilities and rationale.

Key Investment Merits

Strong market position as the leading store brand private label provider of self-care products in North America.
Successful execution of 'Project Energize', delivering $167 million in annualized pre-tax savings by the end of 2025.
Completed divestiture of the Dermacosmetics business for up to €332.6 million, providing immediate capital for debt reduction.

Key Investment Risks

Abrupt leadership transition following the resignation of CEO Patrick Lockwood-Taylor in June 2026.
Structural challenges and intense competition in the Infant Formula business, which remains under strategic review.
Exposure to macroeconomic headwinds, including retailer inventory destocking and unpredictable cough/cold season severity.

Thesis Invalidation Triggers

Failure to appoint a permanent CEO within the next six months.
A material downward revision of the reaffirmed FY 2026 adjusted EPS guidance.
Inability to stabilize margins in the Core self-care business due to prolonged category softness.

All scenarios are estimates and subject to change. Past performance is not indicative of future results.

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Explore this dossier

ValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework.