Merck & Co., Inc. (MRK)

Merck & Co., Inc. operates as a healthcare company worldwide. It offers human health pharmaceutical for various areas under the Keytruda, Keytruda Qlex, Welireg, Gardasil, ProQuad, M-M-R II, Varivax, Vaxneuvance, Capvaxive, RotaTeq, Pneumovax 23, Bridion, Prevymis, Dificid, Zerbaxa, Winrevair, Adempas/ Verquvo, Ohtuvayre, Lagevrio, Isentress/Isentress HD, Delstrigo, Pifeltro, Belsomra, Januvia, and Janumet brands. The company also provides veterinary pharmaceuticals, vaccines and health management solutions and services, such as livestock products under the Nuflor, Bovilis/Vista, Bovilis Cryptium, Banamine, Estrumate, Matrix, Resflor, Zuprevo, Revalor, Safe-Guard, M+Pac, Porcilis, Circumvent, Nobilis/Innovax, Paracox and Coccivac, Exzolt, Slice, Imvixa, Clynav, Aquavac/Norvax, Aquaflor, Flexolt brands; Allflex Livestock Intelligence solutions; and companion animal products under the Bravecto One-Month, Bravecto Injectable/Quantum, Bravecto TriUNO, Bravecto Plus, Sentinel Spectrum, Sentinel Flavor Tabs, Numelvi, Optimmune, Nobivac NXT, GilvetMab, Otomax, Mometamax, Mometamax Ultra, Posatex, Caninsulin/Vetsulin, Panacur, Safeguard, Regumate, Prestige, Scalibor/Exspot, Sure Petcare, and Home Again brands. It has development and commercialization agreement for three of Daiichi Sankyo's deruxtecan ADC candidates; AstraZeneca PLC to co-development and co-commercialize AstraZeneca's Lynparza products for multiple cancer types; licensed to develop, manufacture and commercialize LM-299, a novel investigational PD-1/VEGF bispecific antibody from LaNova; and collaboration agreement with Eisai Co., Ltd., Bayer AG, and Ridgeback Biotherapeutics LP, as well Moderna, Inc. Merck & Co., Inc. has strategic collaboration with Infinimmune, Inc. to discover and develop antibodies against multiple therapeutic targets. The company was founded in 1891 and is headquartered in Rahway, New Jersey.

Symbol
MRK
Exchange
NYSE
Sector
Healthcare
Industry
Drug Manufacturers - General
Market cap
$354.94B
52 week range
82.01 - 156.92

Valuation

Share price
$143.81 (close of 2026-10-01)
P/E (TTM)
113.15x
Price to book
8.45x
Price to free cash flow
22.10x
Enterprise value
$402.00B
Book value per share
$17.00

Price performance

PeriodChange
1 day-1.03%
5 days-2.82%
1 month-4.04%
3 months+14.71%
6 months+19.01%
Year to date+36.62%
1 year+59.56%
3 years+39.69%
5 years+76.67%
10 years+141.49%
All time+9682.99%

Members of Congress who disclosed MRK trades

Gilbert Ray Cisneros · Julie Johnson · Marjorie Taylor Greene · Robert Bresnahan · Bruce Westerman · Byron Donalds · Jared Moskowitz · Jefferson Shreve · Josh Gottheimer · Lisa McClain · Maria Elvira Salazar · Ritchie Torres

And 5 others

Super investors holding MRK

Bill Nygren (Harris Associates LP) · Sarah Ketterer (Causeway Capital Management LLC) · Kahn Brothers (Kahn Brothers Group) · Prem Watsa (Fairfax Financial Holdings) · Christopher Bloomstran (Semper Augustus Investments Grroup LLC)

Profitability and growth

Return on equity
34.66%
Return on assets
13.34%
Gross margin
74.80%
Net margin
28.08%
EBITDA margin
37.08%
Revenue growth
1.31%
Net income growth
6.64%
Free cash flow growth
-31.70%

Cash flow and balance sheet

Free cash flow yield (TTM)
4.53%
Current ratio
1.32x
Net debt to EBITDA
3.27x

Latest reported year

Period end
2025-12-31
Fiscal year
2025
Revenue
$65.01B
Cost of revenue
$16.38B
Gross profit
$48.63B
EBITDA
$24.10B
Net income
$18.25B
Earnings per share
$7.30
Research and development
$15.79B
Shares outstanding
2.50B

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$65.01B$48.63B$18.25B$7.30
2024-12-31$64.17B$48.98B$17.12B$6.76
2023-12-31$60.12B$43.99B$365.00M$0.14
2022-12-31$59.28B$41.87B$14.52B$5.73
2021-12-31$48.70B$35.08B$13.05B$5.16
2020-12-31$41.52B$27.90B$7.07B$2.79
2019-12-31$39.12B$27.11B$9.84B$3.84
2018-12-31$42.29B$28.79B$6.22B$2.34
2017-12-31$40.12B$27.21B$2.39B$0.88
2016-12-31$39.81B$25.78B$3.92B$1.42

Margins and returns by year

Period endGross marginNet marginReturn on equity
2025-12-3174.80%28.08%34.66%
2024-12-3176.32%26.68%36.91%
2023-12-3173.17%0.61%0.97%
2022-12-3170.63%24.49%31.52%
2021-12-3172.02%26.79%34.11%
2020-12-3167.20%17.02%27.82%
2019-12-3169.29%25.16%37.86%
2018-12-3168.06%14.71%23.14%
2017-12-3167.82%5.97%6.93%
2016-12-3164.75%9.85%9.73%

Cash and debt by year

Period endCashDebt
2025-12-31$14.56B$46.75B
2024-12-31$13.24B$34.46B
2023-12-31$6.84B$33.68B
2022-12-31$13.19B$28.75B
2021-12-31$8.10B$30.69B
2020-12-31$8.05B$25.36B
2019-12-31$9.68B$22.74B
2018-12-31$7.96B$19.81B
2017-12-31$6.09B$21.35B
2016-12-31$6.51B$24.27B

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$12.36B$820.00M
2024-12-31$18.10B$761.00M
2023-12-31$9.14B$645.00M
2022-12-31$14.71B$541.00M
2021-12-31$8.67B$479.00M
2020-12-31$5.82B$441.00M
2019-12-31$10.07B$388.00M
2018-12-31$8.31B$348.00M
2017-12-31$4.56B$312.00M
2016-12-31$8.76B$300.00M

Dividend history

Most recent payment
2026-09-15
Paid in the last twelve months
$3.40
Payment dateDividend per share
2026-09-15$0.85
2026-06-15$0.85
2026-03-16$0.85
2025-12-15$0.85
2025-09-15$0.81
2025-06-16$0.81
2025-03-17$0.81
2024-12-16$0.81

Investor relations

Next earnings report

Next confirmed report
2026-10-29
Consensus EPS estimate
$2.25

Past earnings dates

ReportedFiscal periodEPS estimate
2026-08-04Jun/2026-
2026-04-30--
2026-02-03--
2025-10-30--
2025-07-29--
2025-04-24--
2025-02-04--
2024-10-31--

Filings and sources

Company website
merck.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

Similar companies

Novartis AG (NVS) · AbbVie Inc. (ABBV) · AstraZeneca plc (AZN) · Johnson & Johnson (JNJ) · Amgen Inc (AMGN) · Eli Lilly & Co (LLY) · Gilead Sciences, Inc. (GILD) · ICON plc (ICLR)

All Healthcare companies

Understanding these figures

Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

Explore

Company directory · S&P 500 heatmap · Earnings calendar · Super investor holdings · Congress trades