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Merck & Co., Inc.(MRK)Earnings, Financials & Key Ratios
MRK•NYSE
$128.86
17.7× P/E·Price updated Jul 7, 2026
AboutMerck & Co., Inc. operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes, as well as vaccine products, such as preventive pediatric, adolescent, and adult vaccines. The Animal Health segment discovers, develops, manufactures, and markets veterinary pharmaceuticals, vaccines, and health management solutions and services, as well as digitally connected identification, traceability, and monitoring products. It serves drug wholesalers and retailers, hospitals, and government agencies; managed health care providers, such as health maintenance organizations, pharmacy benefit managers, and other institutions; and physicians and physician distributors, veterinarians, and animal producers. The company has collaborations with AstraZeneca PLC; Bayer AG; Eisai Co., Ltd.; Ridgeback Biotherapeutics; and Gilead Sciences, Inc. to jointly develop and commercialize long-acting treatments in HIV. Merck & Co., Inc. was founded in 1891 and is headquartered in Kenilworth, New Jersey.Show more
- Revenue$64.93B+1.2%
- EBITDA$29.32B+18.6%
- Net Income$18.25B+6.6%
- EPS (Diluted)7.28+8.0%
- Gross Margin71.98%-5.7%
- EBITDA Margin45.17%+17.2%
- Operating Margin36.17%+14.8%
- Net Margin28.12%+5.4%
- ROE36.86%-9.5%
MRK Price & Volume
Merck & Co., Inc. (MRK) stock price & volume — 10-year historical chart
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Aggressive Pipeline Investment Masks Revenue Growth Stagnation
Investment Thesis • Updated 2026Q1
VerdictNeutral: While the company maintains a healthy dividend yield of 2.5%
Growth:Mixed
Profitability:Moderate
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Keytruda patent cliff exposure
Key Thesis Takeaways
- Merck is currently navigating a high-stakes transition period characterized by aggressive M&A activity and heavy R&D spending to mitigate the long-term risks associated with its oncology portfolio.
- While the company maintains a robust gross margin profile, the volatility in net income—highlighted by a $4.2 billion loss in 2026Q1—suggests that investors must weigh the potential for future pipeline breakthroughs against the immediate pressure of acquisition-related costs.
- The firm's reliance on debt to fund growth, evidenced by a debt-to-equity ratio of 1.07 in 2026Q1, warrants close monitoring as management attempts to balance shareholder dividends with the necessity of replacing aging revenue streams.
Verdict Logic
the significant volatility in free cash flow margins, which dropped to 18.0% in 2026Q1, suggests that the current valuation of 17.63x P/E TTM may not fully account for the risks of ongoing pipeline integration.
MRK Growth Metrics
Merck & Co., Inc. (MRK) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years5.1%
5 Years9.35%
3 Years3.08%
TTM2.47%
Profit CAGR
10 Years15.18%
5 Years20.9%
3 Years7.93%
TTM-48.75%
EPS CAGR
10 Years16.65%
5 Years21.23%
3 Years8.43%
TTM-48.33%
Return on Capital
10 Years14.28%
5 Years18.24%
3 Years17.07%
Last Year23.82%
MRK Recent Earnings
Merck & Co., Inc. (MRK) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 11/12 qtrs (92%)
Q2 2026Latest
Apr 30, 2026Metric
Actual
Est
EPS
$1.28+12.9%
$1.47
Rev
$16.3B+2.8%
$15.8B
Q1 2026
Feb 3, 2026Metric
Actual
Est
EPS
$2.04+1.5%
$2.01
Rev
$16.4B+1.2%
$16.2B
Q4 2025
Oct 30, 2025Metric
Actual
Est
EPS
$2.58+9.3%
$2.36
Rev
$17.3B+1.8%
$17.0B
Q3 2025
Jul 29, 2025Metric
Actual
Est
EPS
$2.13+4.9%
$2.03
Rev
$15.8B-0.4%
$15.9B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 30, 2026 | $1.28vs $1.47+12.9% | $16.3Bvs $15.8B+2.8% |
| Q1 2026 | Feb 3, 2026 | $2.04vs $2.01+1.5% | $16.4Bvs $16.2B+1.2% |
| Q4 2025 | Oct 30, 2025 | $2.58vs $2.36+9.3% | $17.3Bvs $17.0B+1.8% |
| Q3 2025 | Jul 29, 2025 | $2.13vs $2.03+4.9% | $15.8Bvs $15.9B-0.4% |
Based on last 12 quarters of dataView full earnings history →
Latest MRK News
Recent stock market news and headlines for Merck & Co., Inc. (MRK)
Zacks Investment Research·1 day ago
Merck (MRK) Stock Slides as Market Rises: Facts to Know Before You TradeMerck (MRK) concluded the recent trading session at $126.78, signifying a -2.15% move from its prior day's close.
24/7 Wall Street·2 days ago
Why MSTY Shareholders Are Facing Uncapped Losses Despite Weekly DistributionsThe YieldMax MSTR Option Income Strategy ETF (NYSEARCA:MSTY) is the single-stock income product retail investors flocked to when MicroStrategy (now Strategy) was climbing alongside Bitcoin.
GuruFocus·5 days ago
Merck & Co Inc (MRK) Shares Surge 3.3% -- What GF Score of 78 Tells InvestorsOn July 02, 2026, Merck and Co Inc (MRK) shares rose 3.3% today, currently priced at $129.56. The stock has experienced significant price appreciation, trading wi
Investors Business Daily·5 days ago
Merck Stock, JPMorgan And Two Others Hit New HighsMerck stock is in a buy zone after hitting a new high. Fellow Dow stock JPMorgan Chase and Amphenol are both trading around entry points.
Peers Comparison
Key metrics vs top competitors for Merck & Co., Inc. (MRK)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $128.86 | $318.26B | 17.70 | 1.18% | 28.12% | 36.86% | 2.53% | |
| $24.07 | $136.92B | 17.70 | -1.65% | 11.83% | 8.34% | — | |
| $1235.56 | $1.17T | 53.84 | 44.7% | 34.98% | 101.17% | — | |
| $254.65 | $449.91B | 107.45 | 8.57% | 5.79% | 67.46% | — | |
| $57.97 | $118.36B | 16.80 | -0.22% | 15.01% | 38.96% | — | |
| $368.10 | $198.66B | 25.87 | 9.92% | 20.95% | 89.41% | — |
Compare MRK vs Peers
Merck & Co., Inc. (MRK) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MRK SEC Filings & Documents
Merck & Co., Inc. (MRK) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 28, 2026·SEC
Material company update
May 22, 2026·SEC
Material company update
Apr 30, 2026·SEC
10-K Annual Reports
210-Q Quarterly Reports
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MRK Frequently Asked Questions
Merck & Co., Inc. (MRK) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Merck & Co., Inc.'s revenue?
Merck & Co., Inc. (MRK) reported $65.59B in revenue for fiscal year 2025. This represents a 231% increase from $19.83B in 1996.
How fast is Merck & Co., Inc. growing?
Merck & Co., Inc. (MRK) grew revenue by 1.2% over the past year. Growth has been modest.
Is MRK profitable?
Yes, Merck & Co., Inc. (MRK) is profitable, generating $8.94B in net income for fiscal year 2025 (28.1% net margin).
Dividend & Returns
Does MRK pay dividends?
Yes, Merck & Co., Inc. (MRK) pays a dividend with a yield of 2.53%. This makes it attractive for income-focused investors.
What is MRK's return on equity?
Merck & Co., Inc. (MRK) has a return on equity (ROE) of 36.9%. This is excellent, indicating efficient use of shareholder capital.
What is Merck & Co., Inc.'s free cash flow?
Merck & Co., Inc. (MRK) generated $14.12B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.