Merck & Co MRK
$146.73 −$0.21 (-0.14%)
Market closed · Nov 6, 8:10 pm ET · Last extended-hours $146.73 0.00%
Open$144.34
Prev close$146.94
Day range$142.80 – $147.48
Volume7.63M
Market cap$361.73B
P/E (TTM)148.2
Dividend yield2.32%
Fundamentals
Latest reported quarter: Q3, ended Sep 2026
Revenue$18.09B+4.7% YoY
Operating profit$5.77B-12.0% YoY
Net profit$5.07B-12.4% YoY
Diluted EPS$2.04-12.1% YoY
Free cash flow$4.48B+77.0% YoY
Operating cash flow$5.37B
Revenue, last 8 quarters
Net profit, last 8 quarters
Diluted EPS by quarter
Free cash flow by quarter
Annual revenue
Profitability & balance sheet
Gross margin71.8%
Operating margin9.2%
Net margin3.6%
Liabilities / assets67.7%
Cash & investments$7.14B
Total debt$53.91B
Net cash (debt)-$46.77B
Where the revenue comes from
Quarter 2026/Q2
By business line
Income statement
| Line item | 2026 Q3 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 |
|---|---|---|---|---|---|
| Total Revenue as Reported | $18.09B | $16.61B | $16.29B | $65.01B | $16.40B |
| Total Operating Revenue | $18.09B | $16.61B | $16.29B | $65.01B | $16.40B |
| Cost of Revenue | $4.89B | $4.40B | $4.20B | $16.38B | $5.55B |
| Gross Profit | $13.19B | $12.21B | $12.09B | $48.63B | $10.85B |
| Operating Expense | $7.42B | $12.65B | $15.29B | $26.52B | $6.78B |
| Selling and Admin Expenses | $2.89B | $2.90B | $2.70B | $10.73B | $2.90B |
| Research & Development | $4.54B | $9.74B | $12.59B | $15.79B | $3.89B |
| Operating Profit | $5.77B | -$433.00M | -$3.20B | $22.11B | $4.07B |
| Other Income (Expense) | -$211.00M | $240.00M | $111.00M | -$26.00M | -$303.00M |
| Special Income (Charges) | -$184.00M | -$151.00M | -$195.00M | -$889.00M | -$213.00M |
| -Less:Restructuring and Mergern & Acquisition | $184.00M | $151.00M | $195.00M | $889.00M | $213.00M |
| Other Non-Operating Income (Expenses) | -$27.00M | $186.00M | $176.00M | $818.00M | $204.00M |
| Pretax Profit | $5.56B | -$683.00M | -$3.53B | $21.07B | $3.42B |
| Tax | $492.00M | $654.00M | $709.00M | $2.80B | $458.00M |
| Net Profit | $5.07B | -$1.34B | -$4.24B | $18.26B | $2.96B |
| Profit from Continuing Operations | $5.07B | -$1.34B | -$4.24B | $18.26B | $2.96B |
| Minority Interests | $2.00M | -$2.00M | -$3.00M | $9.00M | -$1.00M |
| Net Income to Parent Company | $5.07B | -$1.34B | -$4.24B | $18.25B | $2.96B |
| Net Income to Common Stockholders | $5.07B | -$1.34B | -$4.24B | $18.25B | $2.96B |
| Basic EPS | $2.05 | -$0.54 | -$1.72 | $7.30 | $1.20 |
| Diluted EPS | $2.04 | -$0.54 | -$1.72 | $7.28 | $1.19 |
| Dividend Per Share | $0.85 | $0.85 | $0.85 | $3.28 | $0.85 |
| Net Non-Operating Interest Income (Expense) | – | -$490.00M | -$444.00M | -$1.01B | -$342.00M |
| Non-Operating Interest Income | – | $35.00M | $35.00M | $343.00M | $69.00M |
| Non-Operating Interest Expense | – | $525.00M | $479.00M | $1.36B | $411.00M |
| Gain on Sale of Security | – | $205.00M | $130.00M | $45.00M | -$294.00M |
Balance sheet
| Line item | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 | 2025 Q3 |
|---|---|---|---|---|---|
| Total Assets | $129.80B | $128.69B | $136.87B | $136.87B | $129.55B |
| Total Current Assets | $36.68B | $35.02B | $43.52B | $43.52B | $47.56B |
| Cash and Cash Equivalents & Short-Term Investments | $7.14B | $5.70B | $14.57B | $14.57B | $18.21B |
| -Cash and Cash Equivalents | $6.85B | $5.33B | $14.57B | $14.57B | $18.17B |
| -Short Term Investments | $292.00M | $375.00M | $0.00 | $0.00 | $45.00M |
| Receivables | $12.56B | $12.21B | $11.78B | $11.78B | $12.12B |
| -Accounts Receivable | $12.56B | $12.21B | $11.78B | $11.78B | $12.12B |
| Inventory | $6.21B | $6.48B | $6.66B | $6.66B | $6.44B |
| Other Current Assets | $10.77B | $10.62B | $10.52B | $10.52B | $10.78B |
| Total Non-Current Assets | $93.12B | $93.67B | $93.35B | $93.35B | $81.99B |
| Net PPE | $25.74B | $25.43B | $25.32B | $25.32B | $25.64B |
| -Gross PPE | $48.47B | $47.72B | $47.23B | $47.23B | $46.24B |
| -Accumulated Depreciation | -$22.73B | -$22.29B | -$21.91B | -$21.91B | -$20.61B |
| Investments and Advances | $1.22B | $1.11B | $956.00M | $956.00M | $1.12B |
| -Trading Securities | $1.22B | – | $956.00M | $956.00M | $1.12B |
| Goodwill and Other Intangible Assets | $46.56B | $47.33B | $48.26B | $48.26B | $36.90B |
| -Goodwill | $21.58B | $21.58B | $21.58B | $21.58B | $21.59B |
| -Other Intangible Assets | $24.98B | $25.75B | $26.68B | $26.68B | $15.31B |
| Other Non-Current Assets | $19.60B | $19.81B | $18.82B | $18.82B | $18.33B |
| Total Liabilities | $87.82B | $82.75B | $84.20B | $84.20B | $77.64B |
| Total Current Liabilities | $27.73B | $26.95B | $28.33B | $28.33B | $28.63B |
| Payables | $10.18B | $9.95B | $11.27B | $11.27B | $11.04B |
| -Accounts Payable | $3.83B | $3.86B | $4.40B | $4.40B | $4.15B |
| -Total Tax Payable | $4.22B | $3.95B | $4.73B | $4.73B | $4.85B |
| -Dividends Payable | $2.13B | $2.14B | $2.14B | $2.14B | $2.04B |
| Current Accrued Expenses | $14.73B | $14.55B | $14.47B | $14.47B | $16.19B |
| Short-Term Debt and Capital Lease Obligation | $2.83B | $2.44B | $2.59B | $2.59B | $1.41B |
| -Current Debt | $2.83B | $2.44B | $2.59B | $2.59B | $1.41B |
| Total Non-Current Liabilities | $60.09B | $55.81B | $55.88B | $55.88B | $49.01B |
| Long Term Debt and Capital Lease Obligation | $51.08B | $46.67B | $46.75B | $46.75B | $39.97B |
| -Long Term Debt | $51.08B | $46.67B | $46.75B | $46.75B | $39.97B |
| Non-Current Deferred Liabilities | $1.43B | $1.49B | $1.44B | $1.44B | $1.38B |
| Other Non-Current Liabilities | $7.57B | $7.64B | $7.69B | $7.69B | $7.66B |
| Total Equity | $41.98B | $45.93B | $52.66B | $52.66B | $51.91B |
| Stockholders' Equity | $41.93B | $45.88B | $52.61B | $52.61B | $51.85B |
| Capital Stock | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B |
| -Common Stock | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B |
| Additional Paid-In Capital | $44.95B | $45.18B | $45.03B | $45.03B | $44.83B |
| Retained Earnings | $63.27B | $66.72B | $73.08B | $73.08B | $72.23B |
| Less: Treasury Stock | $64.13B | $63.75B | $63.00B | $63.00B | $61.80B |
| Gains/Losses Not Affecting Retained Earnings | -$3.94B | -$4.06B | -$4.29B | -$4.29B | -$5.20B |
| Minority Interests | $51.00M | $53.00M | $56.00M | $56.00M | $57.00M |
| -Available for Sale Securities | – | – | $956.00M | $956.00M | $1.12B |
Cash flow
| Line item | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 | 2025 Q3 |
|---|---|---|---|---|---|
| Operating Cash Flow | $5.37B | $3.92B | $16.47B | $2.86B | $7.82B |
| Net cash flow from continuing operations | $5.37B | $3.92B | $16.47B | $2.86B | $7.82B |
| Net Income from Continuing Operations | -$1.34B | -$4.24B | $18.26B | $2.96B | $5.79B |
| Gain/Loss from Continuing Operations | -$243.00M | -$168.00M | -$368.00M | $195.00M | -$374.00M |
| Depreciation & Depletion & Amortization | $1.58B | $1.51B | $5.84B | $2.47B | $1.15B |
| Deferred Tax | -$544.00M | -$315.00M | -$1.67B | -$825.00M | -$212.00M |
| Other Non-Cash Items | $5.19B | $8.56B | $511.00M | $118.00M | -$51.00M |
| Change in Working Capital | $423.00M | -$1.61B | -$6.98B | -$2.32B | $1.31B |
| Net cash flow from investing | -$5.60B | -$10.21B | -$13.74B | -$11.20B | -$283.00M |
| Net Cash Flow from Continuing Investing Activities | -$5.60B | -$10.21B | -$13.74B | -$11.20B | -$283.00M |
| Capital Expenditure | -$893.00M | -$991.00M | -$4.11B | -$1.03B | -$987.00M |
| Net Business Purchase and Sale | -$5.84B | -$8.78B | -$10.04B | -$10.04B | $0.00 |
| Net Investment Purchase and Sale | $1.16B | -$374.00M | $471.00M | $46.00M | $575.00M |
| Net Other Investing Changes | -$22.00M | -$66.00M | -$58.00M | -$172.00M | $129.00M |
| Financing Cash Flow | $1.76B | -$2.98B | -$1.92B | $4.75B | $2.64B |
| Net Cash Flow from Continuing Financing Activities | $1.76B | -$2.98B | -$1.92B | $4.75B | $2.64B |
| Net Issuance Payments Of Debt | $4.89B | -$79.00M | $11.38B | $7.85B | $6.02B |
| Net Common Stock Issuance | -$757.00M | -$874.00M | -$5.08B | -$1.25B | -$1.32B |
| Cash Dividends Paid | -$2.14B | -$2.11B | -$8.18B | -$2.02B | -$2.03B |
| Proceeds from Stock Option Exercised | $43.00M | $157.00M | $92.00M | $47.00M | $14.00M |
| Net Other Financing Charges | -$270.00M | -$80.00M | -$131.00M | $121.00M | -$46.00M |
| Ending Cash Balance | $6.89B | $5.40B | $14.69B | $14.69B | $18.26B |
| Net Change in Cash | $1.53B | -$9.27B | $809.00M | -$3.59B | $10.18B |
| Beginning Cash Balance | $5.40B | $14.69B | $13.32B | $18.26B | $8.07B |
| Effect of Exchange Rate Changes | -$37.00M | -$19.00M | $563.00M | $23.00M | $10.00M |
| Free Cash Flow | $4.48B | $2.93B | $12.36B | $1.82B | $6.84B |
| -Change in Receivables | – | – | -$1.09B | – | – |
| -Change in Inventory | – | – | -$1.18B | – | – |
| -Change in Payables and Accrued Expense | – | – | -$1.59B | – | – |
| -Change in Other Current Liabilities | – | – | $195.00M | – | – |
| -Change In Other Working Capital | – | – | -$3.31B | – | – |
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