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Merck & Co.

NYSE: MRK · USD

Merck & Co. financials

6 charts

Revenue

USD millions

$16,607M
Merck & Co. Revenue. Quarterly values and changes versus the preceding comparable period. Missing values are unavailable.
PeriodRevenue
FY 2009 Q2$4,647M; Change unavailable vs FY 2009 Q1
FY 2009 Q3$4,499M; −3.2% vs FY 2009 Q2
FY 2009 Q4Unavailable; Change unavailable vs FY 2009 Q3
FY 2010 Q1$11,422.2M; Change unavailable vs FY 2009 Q4
FY 2010 Q2$11,346.3M; −0.7% vs FY 2010 Q1
FY 2010 Q3$11,124.9M; −2.0% vs FY 2010 Q2
FY 2010 Q4$12,093.7M; +8.7% vs FY 2010 Q3
FY 2011 Q1$11,580M; −4.2% vs FY 2010 Q4
FY 2018 Q2$10,465M; Change unavailable vs FY 2018 Q1
FY 2018 Q3$10,794M; +3.1% vs FY 2018 Q2
FY 2018 Q4$10,998M; +1.9% vs FY 2018 Q3
FY 2019 Q1$10,816M; −1.7% vs FY 2018 Q4
FY 2019 Q2$11,760M; +8.7% vs FY 2019 Q1
FY 2019 Q3$12,397M; +5.4% vs FY 2019 Q2
FY 2019 Q4$11,868M; −4.3% vs FY 2019 Q3
FY 2020 Q1$12,057M; +1.6% vs FY 2019 Q4
FY 2020 Q2$10,872M; −9.8% vs FY 2020 Q1
FY 2020 Q3$12,551M; +15.4% vs FY 2020 Q2
FY 2020 Q4$12,515M; −0.3% vs FY 2020 Q3
FY 2021 Q1$12,080M; −3.5% vs FY 2020 Q4
FY 2021 Q2$11,402M; −5.6% vs FY 2021 Q1
FY 2021 Q3$13,154M; +15.4% vs FY 2021 Q2
FY 2021 Q4$13,521M; +2.8% vs FY 2021 Q3
FY 2022 Q1$15,901M; +17.6% vs FY 2021 Q4
FY 2022 Q2$14,593M; −8.2% vs FY 2022 Q1
FY 2022 Q3$14,959M; +2.5% vs FY 2022 Q2
FY 2022 Q4$13,830M; −7.5% vs FY 2022 Q3
FY 2023 Q1$14,487M; +4.8% vs FY 2022 Q4
FY 2023 Q2$15,035M; +3.8% vs FY 2023 Q1
FY 2023 Q3$15,962M; +6.2% vs FY 2023 Q2
FY 2023 Q4$14,630M; −8.3% vs FY 2023 Q3
FY 2024 Q1$15,775M; +7.8% vs FY 2023 Q4
FY 2024 Q2$16,112M; +2.1% vs FY 2024 Q1
FY 2024 Q3$16,657M; +3.4% vs FY 2024 Q2
FY 2024 Q4$15,624M; −6.2% vs FY 2024 Q3
FY 2025 Q1$15,529M; −0.6% vs FY 2024 Q4
FY 2025 Q2$15,806M; +1.8% vs FY 2025 Q1
FY 2025 Q3$17,276M; +9.3% vs FY 2025 Q2
FY 2025 Q4$16,400M; −5.1% vs FY 2025 Q3
FY 2026 Q1$16,286M; −0.7% vs FY 2025 Q4
FY 2026 Q2$16,607M; +2.0% vs FY 2026 Q1
Jun 30, 2009 through Sep 25, 2026

Free cash flow

USD millions

$4,477M
Merck & Co. Free cash flow. Quarterly values and changes versus the preceding comparable period. Missing values are unavailable.
PeriodFree cash flow
FY 2009 Q2$504.2M; Change unavailable vs FY 2009 Q1
FY 2009 Q3$738.7M; +46.5% vs FY 2009 Q2
FY 2009 Q4$211M; −71.4% vs FY 2009 Q3
FY 2010 Q1$1,023.3M; +385.0% vs FY 2009 Q4
FY 2010 Q2$2,987.9M; +192.0% vs FY 2010 Q1
FY 2010 Q3$2,254M; −24.6% vs FY 2010 Q2
FY 2010 Q4$2,878.8M; +27.7% vs FY 2010 Q3
FY 2011 Q1$1,397M; −51.5% vs FY 2010 Q4
FY 2018 Q2$2,799M; Change unavailable vs FY 2018 Q1
FY 2018 Q3$2,140M; −23.5% vs FY 2018 Q2
FY 2018 Q4$2,663M; +24.4% vs FY 2018 Q3
FY 2019 Q1$741M; −72.2% vs FY 2018 Q4
FY 2019 Q2$2,302M; +210.7% vs FY 2019 Q1
FY 2019 Q3$3,267M; +41.9% vs FY 2019 Q2
FY 2019 Q4$3,657M; +11.9% vs FY 2019 Q3
FY 2020 Q1$-279M; −107.6% vs FY 2019 Q4
FY 2020 Q2$2,699M; +1067.4% vs FY 2020 Q1
FY 2020 Q3$657M; −75.7% vs FY 2020 Q2
FY 2020 Q4$2,492M; +279.3% vs FY 2020 Q3
FY 2021 Q1$657M; −73.6% vs FY 2020 Q4
FY 2021 Q2$1,056M; +60.7% vs FY 2021 Q1
FY 2021 Q3$3,625M; +243.3% vs FY 2021 Q2
FY 2021 Q4$3,887M; +7.2% vs FY 2021 Q3
FY 2022 Q1$3,777M; −2.8% vs FY 2021 Q4
FY 2022 Q2$3,173M; −16.0% vs FY 2022 Q1
FY 2022 Q3$4,476M; +41.1% vs FY 2022 Q2
FY 2022 Q4$3,281M; −26.7% vs FY 2022 Q3
FY 2023 Q1$332M; −89.9% vs FY 2022 Q4
FY 2023 Q2$2,739M; +725.0% vs FY 2023 Q1
FY 2023 Q3$6,815M; +148.8% vs FY 2023 Q2
FY 2023 Q4$-743M; −110.9% vs FY 2023 Q3
FY 2024 Q1$2,229M; +400.0% vs FY 2023 Q4
FY 2024 Q2$4,846M; +117.4% vs FY 2024 Q1
FY 2024 Q3$8,508M; +75.6% vs FY 2024 Q2
FY 2024 Q4$2,513M; −70.5% vs FY 2024 Q3
FY 2025 Q1$1,172M; −53.4% vs FY 2024 Q4
FY 2025 Q2$2,529M; +115.8% vs FY 2025 Q1
FY 2025 Q3$6,835M; +170.3% vs FY 2025 Q2
FY 2025 Q4$1,824M; −73.3% vs FY 2025 Q3
FY 2026 Q1$2,927M; +60.5% vs FY 2025 Q4
FY 2026 Q2$4,477M; +53.0% vs FY 2026 Q1

Net margin

%

-8.04%
Merck & Co. Net margin. Reported fiscal history.
Fiscal period%
FY 2009 Q214.44%
FY 2009 Q311.45%
FY 2009 Q4—
FY 2010 Q12.62%
FY 2010 Q26.63%
FY 2010 Q33.07%
FY 2010 Q4-4.4%
FY 2011 Q19.01%
FY 2018 Q216.31%
FY 2018 Q318.07%
FY 2018 Q416.61%
FY 2019 Q126.95%
FY 2019 Q222.7%
FY 2019 Q315.33%
FY 2019 Q419.85%
FY 2020 Q126.7%
FY 2020 Q227.61%
FY 2020 Q323.43%
FY 2020 Q4-16.73%
FY 2021 Q126.32%
FY 2021 Q213.55%
FY 2021 Q334.72%
FY 2021 Q427.79%
FY 2022 Q127.11%
FY 2022 Q227.03%
FY 2022 Q321.71%
FY 2022 Q421.81%
FY 2023 Q119.47%
FY 2023 Q2-39.74%
FY 2023 Q329.73%
FY 2023 Q4-8.38%
FY 2024 Q130.19%
FY 2024 Q233.86%
FY 2024 Q318.95%
FY 2024 Q423.96%
FY 2025 Q132.71%
FY 2025 Q228.01%
FY 2025 Q333.49%
FY 2025 Q418.07%
FY 2026 Q1-26.03%
FY 2026 Q2-8.04%

P/E

× · TTM · Daily

115.82×
Merck & Co. P/E. Monthly closing observations; inspect daily values with the chart arrow keys.
Close date× · TTM · DailyFinancials through
2012-02-299.54×2010-09-30
2012-03-309.6×2010-09-30
2012-04-309.81×2010-09-30
2012-05-319.39×2010-09-30
2012-06-2910.43×2010-09-30
2012-07-3111.04×2010-09-30
2012-08-3110.76×2010-09-30
2012-09-2811.27×2010-09-30
2012-10-3111.4×2010-09-30
2012-11-3011.07×2010-09-30
2012-12-3110.23×2010-09-30
2013-01-3110.81×2010-09-30
2013-02-2810.68×2010-09-30
2013-03-2885.67×2011-03-31
2013-04-3091.09×2011-03-31
2013-05-3190.51×2011-03-31
2013-06-2890.03×2011-03-31
2013-07-3193.36×2011-03-31
2013-08-3091.66×2011-03-31
2013-09-3092.28×2011-03-31
2013-10-3187.39×2011-03-31
2013-11-2996.58×2011-03-31
2013-12-3197.01×2011-03-31
2014-01-31102.67×2011-03-31
2014-02-28110.46×2011-03-31
2014-03-31110.03×2011-03-31
2014-04-30113.5×2011-03-31
2014-05-30112.14×2011-03-31
2014-06-30112.12×2011-03-31
2014-07-31109.97×2011-03-31
2014-08-29116.5×2011-03-31
2014-09-30114.9×2011-03-31
2014-10-31112.3×2011-03-31
2014-11-28117.07×2011-03-31
2014-12-31110.07×2011-03-31
2015-01-30116.83×2011-03-31
2015-02-27113.46×2011-03-31
2015-03-31111.41×2011-03-31
2015-04-30115.44×2011-03-31
2015-05-29118.02×2011-03-31
2015-06-30110.34×2011-03-31
2015-07-31114.28×2011-03-31
2015-08-31104.37×2011-03-31
2015-09-3095.73×2011-03-31
2015-10-30105.94×2011-03-31
2015-11-30102.74×2011-03-31
2015-12-31102.37×2011-03-31
2016-01-2998.21×2011-03-31
2016-02-2997.32×2011-03-31
2016-03-31102.55×2011-03-31
2016-04-29106.29×2011-03-31
2016-05-31109.04×2011-03-31
2016-06-30111.66×2011-03-31
2016-07-29113.69×2011-03-31
2016-08-31121.7×2011-03-31
2016-09-30120.96×2011-03-31
2016-10-31113.81×2011-03-31
2016-11-30118.6×2011-03-31
2016-12-30114.1×2011-03-31
2017-01-31120.15×2011-03-31
2017-02-28127.67×2011-03-31
2017-03-31123.15×2011-03-31
2017-04-28120.81×2011-03-31
2017-05-31126.2×2011-03-31
2017-06-30124.22×2011-03-31
2017-07-31123.81×2011-03-31
2017-08-31123.77×2011-03-31
2017-09-29124.1×2011-03-31
2017-10-31106.77×2011-03-31
2017-11-30107.12×2011-03-31
2017-12-29109.06×2011-03-31
2018-01-31114.84×2011-03-31
2018-02-28105.09×2011-03-31
2018-03-29105.57×2011-03-31
2018-04-30114.1×2011-03-31
2018-05-31115.38×2011-03-31
2018-06-29117.65×2011-03-31
2018-07-31127.67×2011-03-31
2018-08-31132.94×2011-03-31
2018-09-28137.49×2011-03-31
2018-10-31142.67×2011-03-31
2018-11-30153.78×2011-03-31
2018-12-31148.1×2011-03-31
2019-01-31144.26×2011-03-31
2019-02-2834.43×2018-12-31
2019-03-2935.23×2018-12-31
2019-04-3033.34×2018-12-31
2019-05-3124.55×2019-03-31
2019-06-2825.99×2019-03-31
2019-07-3125.72×2019-03-31
2019-08-3023.9×2019-06-30
2019-09-3023.27×2019-06-30
2019-10-3123.96×2019-06-30
2019-11-2924.08×2019-09-30
2019-12-3125.12×2019-09-30
2020-01-3123.6×2019-09-30
2020-02-2819.91×2019-12-31
2020-03-3120×2019-12-31
2020-04-3020.63×2019-12-31
2020-05-2920.99×2019-12-31
2020-06-3020.11×2019-12-31
2020-07-3120.86×2019-12-31
2020-08-3122.17×2019-12-31
2020-09-3021.57×2019-12-31
2020-10-3019.55×2019-12-31
2020-11-3020.9×2019-12-31
2020-12-3121.27×2019-12-31
2021-01-2920.04×2019-12-31
2021-02-2626.11×2020-12-31
2021-03-3127.72×2020-12-31
2021-04-3026.79×2020-12-31
2021-05-2827.29×2020-12-31
2021-06-3029.31×2020-12-31
2021-07-3028.97×2020-12-31
2021-08-3128.75×2020-12-31
2021-09-3028.3×2020-12-31
2021-10-2933.18×2020-12-31
2021-11-3028.38×2021-03-31
2021-12-3129.04×2021-03-31
2022-01-3130.87×2021-03-31
2022-02-2829.02×2021-03-31
2022-03-3131.09×2021-03-31
2022-04-2933.61×2021-03-31
2022-05-3132.43×2021-09-30
2022-06-3032.13×2021-09-30
2022-07-2931.48×2021-09-30
2022-08-3130.08×2021-09-30
2022-09-3030.35×2021-09-30
2022-10-3135.66×2021-09-30
2022-11-3038.8×2021-09-30
2022-12-3039.1×2021-09-30
2023-01-3137.85×2021-09-30
2023-02-2837.44×2021-09-30
2023-03-3137.49×2021-09-30
2023-04-2840.69×2021-09-30
2023-05-3138.91×2021-09-30
2023-06-3040.66×2021-09-30
2023-07-3137.58×2021-09-30
2023-08-3138.4×2021-09-30
2023-09-2936.28×2021-09-30
2023-10-3136.19×2021-09-30
2023-11-3036.11×2021-09-30
2023-12-2938.42×2021-09-30
2024-01-3142.56×2021-09-30
2024-02-29885.2×2023-12-31
2024-03-28918.61×2023-12-31
2024-04-30899.61×2023-12-31
2024-05-31873.99×2023-12-31
2024-06-28861.87×2023-12-31
2024-07-31787.59×2023-12-31
2024-08-30824.63×2023-12-31
2024-09-30790.58×2023-12-31
2024-10-31712.33×2023-12-31
2024-11-29707.6×2023-12-31
2024-12-31692.56×2023-12-31
2025-01-31687.97×2023-12-31
2025-02-2813.66×2024-12-31
2025-03-3113.29×2024-12-31
2025-04-3012.62×2024-12-31
2025-05-3011.16×2025-03-31
2025-06-3011.49×2025-03-31
2025-07-3111.34×2025-03-31
2025-08-2912.89×2025-06-30
2025-09-3012.86×2025-06-30
2025-10-3113.17×2025-06-30
2025-11-2813.76×2025-09-30
2025-12-3113.81×2025-09-30
2026-01-3014.47×2025-09-30
2026-02-2716.86×2025-12-31
2026-03-3116.38×2025-12-31
2026-04-3014.87×2025-12-31
2026-05-2932.85×2026-03-31
2026-06-3035.55×2026-03-31
2026-07-3136.02×2026-03-31
2026-08-31115.02×2026-06-30
2026-09-25115.82×2026-06-30
Mean 114.37×Median 41.38×180% above median

ROIC

% · Annual / TTM

—
Operating income is unavailable in the extracted statements for this period.
Merck & Co. ROIC. Reported fiscal history.
Fiscal period% · Annual / TTM
FY 2009 Q2—
FY 2009 Q3—
FY 2009 Q4—
FY 2010 Q1—
FY 2010 Q2—
FY 2010 Q3—
FY 2010 Q4—
FY 2011 Q1—
FY 2018 Q2—
FY 2018 Q3—
FY 2018 Q4—
FY 2019 Q1—
FY 2019 Q2—
FY 2019 Q3—
FY 2019 Q4—
FY 2020 Q1—
FY 2020 Q2—
FY 2020 Q3—
FY 2020 Q4—
FY 2021 Q1—
FY 2021 Q2—
FY 2021 Q3—
FY 2021 Q4—
FY 2022 Q1—
FY 2022 Q2—
FY 2022 Q3—
FY 2022 Q4—
FY 2023 Q1—
FY 2023 Q2—
FY 2023 Q3—
FY 2023 Q4—
FY 2024 Q1—
FY 2024 Q2—
FY 2024 Q3—
FY 2024 Q4—
FY 2025 Q1—
FY 2025 Q2—
FY 2025 Q3—
FY 2025 Q4—
FY 2026 Q1—
FY 2026 Q2—

Capital allocation

% of tracked cash uses

$3,799M
Merck & Co. capital allocation. Quarterly values. Missing values are unavailable.
PeriodCapexAcquisitionsBuybacksDividendsDebt repaymentsTracked uses
FY 2009 Q285.19% · $365.2M0% · $0MUnavailableUnavailable14.81% · $63.5M100% · $428.7M
FY 2009 Q374.1% · $303.3M0% · $0MUnavailable25.9% · $106M0% · $0M100% · $409.3M
FY 2009 Q416.13% · $557M0% · $0MUnavailable83.87% · $2,897MUnavailable100% · $3,454M
FY 2010 Q115% · $342.8M5.75% · $131.3MUnavailable52.02% · $1,188.6M27.23% · $622.3M100% · $2,285M
FY 2010 Q221.88% · $337M0.65% · $10MUnavailable77.22% · $1,189.3M0.25% · $3.8M100% · $1,540.1M
FY 2010 Q317.89% · $337.9M0.56% · $10.5M15.67% · $296.1M62.54% · $1,181.3M3.35% · $63.2M100% · $1,889M
FY 2010 Q425.48% · $660.3M4.02% · $104.2MUnavailable45.34% · $1,174.8M25.15% · $651.7M100% · $2,591M
FY 2011 Q121.56% · $324MUnavailableUnavailable78.18% · $1,175M0.27% · $4M100% · $1,503M
FY 2018 Q29.94% · $583M6.34% · $372M27.2% · $1,596M22.35% · $1,311M34.17% · $2,005M100% · $5,867M
FY 2018 Q322.26% · $653M0% · $0M33.95% · $996M43.8% · $1,285MUnavailable100% · $2,934M
FY 2018 Q49.8% · $929M0.62% · $59M62.6% · $5,933M13.47% · $1,277M13.5% · $1,280M100% · $9,478M
FY 2019 Q119.11% · $595M0% · $0M35.01% · $1,090M45.87% · $1,428M0% · $0M100% · $3,113M
FY 2019 Q220.83% · $782M7.19% · $270M32.89% · $1,235M39.09% · $1,468M0% · $0M100% · $3,755M
FY 2019 Q325.52% · $959MUnavailable37.39% · $1,405M37.09% · $1,394M0% · $0M100% · $3,758M
FY 2019 Q431.43% · $1,137M0.69% · $25M29.03% · $1,050M38.84% · $1,405M0% · $0M100% · $3,617M
FY 2020 Q111.86% · $986M30.61% · $2,545M15.41% · $1,281M18.66% · $1,551M23.47% · $1,951M100% · $8,314M
FY 2020 Q229.74% · $668MUnavailable0% · $0M70.21% · $1,577M0.04% · $1M100% · $2,246M
FY 2020 Q341.55% · $1,516M16.06% · $586M0% · $0M42.34% · $1,545M0.05% · $2M100% · $3,649M
FY 2020 Q443.05% · $1,514M13.02% · $458M0% · $0M43.84% · $1,542M0.09% · $3M100% · $3,517M
FY 2021 Q128.74% · $1,134M0.35% · $14M0% · $0M41.69% · $1,645M29.22% · $1,153M100% · $3,946M
FY 2021 Q231.96% · $934M2.6% · $76M8.18% · $239M57.26% · $1,673M0% · $0M100% · $2,922M
FY 2021 Q334.43% · $1,172MUnavailable17.13% · $583M48.44% · $1,649M0% · $0M100% · $3,404M
FY 2021 Q429.28% · $1,208M2.18% · $90M0.44% · $18M39.83% · $1,643M28.27% · $1,166M100% · $4,125M
FY 2022 Q124.73% · $984MUnavailable0% · $0M43.86% · $1,745M31.41% · $1,250M100% · $3,979M
FY 2022 Q238.94% · $1,129MUnavailable0% · $0M61.06% · $1,770M0% · $0M100% · $2,899M
FY 2022 Q328.19% · $1,126M3.03% · $121M0% · $0M43.74% · $1,747M25.04% · $1,000M100% · $3,994M
FY 2022 Q439.62% · $1,149M0% · $0M0% · $0M60.34% · $1,750M0.03% · $1M100% · $2,900M
FY 2023 Q133.46% · $1,007M0% · $0M4.95% · $149M61.56% · $1,853M0.03% · $1M100% · $3,010M
FY 2023 Q26.17% · $965M68.43% · $10,705M2.16% · $338M12.05% · $1,885M11.19% · $1,750M100% · $15,643M
FY 2023 Q327.98% · $902MUnavailable14.45% · $466M57.54% · $1,855M0.03% · $1M100% · $3,224M
FY 2023 Q430.55% · $989M0% · $0M12.14% · $393M57.21% · $1,852M0.09% · $3M100% · $3,237M
FY 2024 Q119.44% · $861M16.84% · $746M2.75% · $122M44.02% · $1,950M16.95% · $751M100% · $4,430M
FY 2024 Q226.12% · $791M0% · $0M8.29% · $251M65.59% · $1,986M0% · $0M100% · $3,028M
FY 2024 Q324.62% · $783M0% · $0M13.96% · $444M61.42% · $1,953M0% · $0M100% · $3,180M
FY 2024 Q423.93% · $937M0% · $0M12.49% · $489M49.82% · $1,951M13.76% · $539M100% · $3,916M
FY 2025 Q118.86% · $1,328M0% · $0M16.53% · $1,164M29.11% · $2,050M35.5% · $2,500M100% · $7,042M
FY 2025 Q218.25% · $764M0% · $0M32.13% · $1,345M49.62% · $2,077M0% · $0M100% · $4,186M
FY 2025 Q322.73% · $987M0% · $0M30.47% · $1,323M46.78% · $2,031M0.02% · $1M100% · $4,342M
FY 2025 Q47.2% · $1,033M69.99% · $10,042M8.73% · $1,252M14.07% · $2,018M0.01% · $2M100% · $14,347M
FY 2026 Q17.14% · $991M63.21% · $8,779M6.29% · $874M15.16% · $2,105M8.21% · $1,140M100% · $13,889M
FY 2026 Q223.51% · $893M0% · $0M19.93% · $757M56.44% · $2,144M0.13% · $5M100% · $3,799M

Tracked cash uses · SBC excluded

Sources and calculations

Company filings · USD · Last checked 2026-10-18. Missing inputs remain unavailable. Your chart selection and layout are saved in this browser for Merck & Co..

All charts share the selected dates. Quarterly/Yearly changes fiscal charts; valuation keeps completed daily closes on a published TTM basis. Later restatements can delay that basis. Historical mean, median and pricing labels use the selected range and do not estimate intrinsic fair value.

SBC deduction is an optional economic-cost scenario for FCF-based metrics. Missing SBC never becomes zero.

Revenue
Reported revenue from company filings.
Free cash flow
Operating cash flow − reported cash capital investment. PPE purchases are preferred; the productive-assets fallback also includes software and intangibles. Reflects the SBC option and can differ from issuer-defined FCF.
Net margin
Reported net income / revenue × 100.
P/E
Completed closing price × diluted shares / TTM earnings attributable to common shareholders.
ROIC
NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
Capital allocation
Reported cash uses as a percentage of tracked uses. Missing categories remain unavailable; SBC is noncash and excluded.
Reported revenue and sources