Merck & Co., Inc. (MRK) Earnings History
Elite Compounder37 years of earnings data (1989–2025) · 5-year EPS CAGR exceeds 18% — top-tier earnings quality
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Merck & Co., Inc. (MRK) Earnings Overview
As of July 8, 2026, Merck & Co., Inc. (MRK) reported trailing twelve-month net income of $8.94B, reflecting +8.0% year-over-year growth. The company earned $3.61 per diluted share over the past four quarters, with a net profit margin of 28.1%.
Looking at the long-term picture, MRK's 5-year EPS compound annual growth rate (CAGR) stands at +21.2%, indicating exceptional earnings growth. The company achieved its highest annual net income of $18.25B in fiscal 2025, representing a new all-time high.
Merck & Co., Inc. maintains industry-leading profitability with a gross margin of 72.0%, operating margin of 36.2%, and net margin of 28.1%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including PFE ($7.49B net income, 12.4% margin), LLY ($25.27B net income, 31.7% margin), ABBV ($3.64B net income, 6.9% margin), MRK has outperformed on profitability metrics. Compare MRK vs PFE →
MRK Earnings vs Peers
Earnings metrics vs comparable public companies
MRK Historical Earnings Data (1989–2025)
37 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $18.25B | +6.6% | $23.49B | $7.28 | 28.1% | 36.2% |
| 2024 | $17.12B | +4589.6% | $20.22B | $6.74 | 26.7% | 31.5% |
| 2023 | $365M | -97.5% | $2.95B | $0.14 | 0.6% | 4.9% |
| 2022 | $14.52B | +11.3% | $18.28B | $5.71 | 24.5% | 30.8% |
| 2021 | $13.05B | +84.6% | $13.20B | $5.14 | 26.8% | 27.1% |
| 2020 | $7.07B | -28.2% | $5.55B | $2.78 | 17.0% | 13.4% |
| 2019 | $9.84B | +58.2% | $7.93B | $3.82 | 25.2% | 20.3% |
| 2018 | $6.22B | +159.8% | $8.93B | $2.32 | 14.7% | 21.1% |
| 2017 | $2.39B | -38.9% | $6.80B | $0.93 | 6.0% | 16.9% |
| 2016 | $3.92B | -11.8% | $5.50B | $2.04 | 9.8% | 13.8% |
| 2015 | $4.44B | -62.7% | $7.55B | $1.56 | 11.2% | 19.1% |
| 2014 | $11.92B | +170.7% | $6.68B | $4.07 | 28.2% | 15.8% |
| 2013 | $4.40B | -28.6% | $7.67B | $1.47 | 10.0% | 17.4% |
| 2012 | $6.17B | -1.7% | $9.88B | $2.16 | 13.0% | 20.9% |
| 2011 | $6.27B | +628.5% | $8.98B | $2.02 | 13.1% | 18.7% |
| 2010 | $861M | -93.3% | $3.35B | $0.28 | 1.9% | 7.3% |
| 2009 | $12.90B | +65.2% | $4.02B | $4.15 | 47.0% | 14.7% |
| 2008 | $7.81B | +138.4% | $6.08B | $3.63 | 32.7% | 25.5% |
| 2007 | $3.28B | -26.1% | $5.62B | $-1.04 | 13.5% | 23.2% |
| 2006 | $4.43B | -4.3% | $3.69B | $2.03 | 19.6% | 16.3% |
| 2005 | $4.63B | -20.6% | $5.86B | $2.10 | 21.0% | 26.6% |
| 2004 | $5.83B | -14.7% | $6.76B | $2.62 | 25.4% | 29.4% |
| 2003 | $6.83B | -4.5% | $8.57B | $2.97 | 30.4% | 38.1% |
| 2002 | $7.15B | -1.8% | $9.09B | $3.14 | 33.3% | 42.4% |
| 2001 | $7.28B | +6.7% | $9.28B | $3.14 | 34.3% | 43.8% |
| 2000 | $6.82B | +15.8% | $9.09B | $2.90 | 16.9% | 22.5% |
| 1999 | $5.89B | +12.2% | $7.59B | $2.45 | 18.0% | 23.2% |
| 1998 | $5.25B | +13.7% | $6.38B | $2.15 | 19.5% | 23.7% |
| 1997 | $4.61B | +18.9% | $5.86B | $1.87 | 19.5% | 24.8% |
| 1996 | $3.88B | +16.4% | $4.98B | $1.56 | 19.6% | 25.1% |
| 1995 | $3.34B | +11.3% | $4.40B | $1.32 | 20.0% | 26.4% |
| 1994 | $3.00B | +38.4% | $4.41B | $1.18 | 20.0% | 29.4% |
| 1993 | $2.17B | +9.2% | $3.89B | $0.93 | 20.6% | 37.0% |
| 1992 | $1.98B | -6.5% | $3.49B | $1.05 | 20.5% | 36.1% |
| 1991 | $2.12B | +19.1% | $3.11B | $0.91 | 24.7% | 36.1% |
| 1990 | $1.78B | +19.1% | $2.65B | $0.76 | 23.2% | 34.6% |
| 1989 | $1.50B | - | $2.24B | $0.63 | 22.8% | 34.1% |
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MRK — Frequently Asked Questions
Quick answers to the most common questions about buying MRK stock.
What is MRK earnings per share (EPS)?
MRK trailing twelve-month (TTM) diluted EPS is $3.61, reflecting +8.0% year-over-year growth. The 5-year EPS CAGR is +21.2%. Complete EPS history from 1989 to 2025 is available in the table on this page.
What is Merck & Co., Inc.'s net income?
Merck & Co., Inc. (MRK) trailing twelve-month net income is $8.9B as of 2025. Earnings grew +8.0% year-over-year. Merck & Co., Inc. has been profitable for 37 consecutive years.
Is MRK profitable?
Yes, MRK is profitable with a TTM net income of $8.9B and a net profit margin of +28.1%. Merck & Co., Inc. has generated profits for 37 consecutive years.
What is MRK's earnings growth rate?
MRK compound annual EPS growth rates (CAGR): 1-Year: +8.0%, 3-Year: +8.4%, 5-Year: +21.2%, 10-Year: +16.7%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1989 to 2025.
What are MRK's profit margins?
Merck & Co., Inc. net profit margin is +28.1%, operating margin is +36.2%, and gross margin is +72.0%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +36.9%.
Is MRK growing earnings?
MRK is growing earnings steadily. YoY EPS growth of +8.0% is consistent with the 5-year CAGR of +21.2%. TTM net income is $8.9B.
What was MRK's best earnings year?
Merck & Co., Inc.'s highest annual net income on record is $18.3B, achieved in fiscal year 2025. Earnings history on this page spans 1989 to 2025 and includes all annual and quarterly figures.
What were MRK's earnings last quarter?
MRK's most recent reported quarter was Q1 2026. Net income was $-4.2B with diluted EPS of $-1.72. For a full breakdown of all quarters, see the quarterly earnings table on this page.