Merck & Co., Inc. MRK financials

Healthcare & Pharma · Statements and segments from its SEC filings, 2007 to 2025.

Merck & Co., Inc. revenue, gross and operating margin, net income, free cash flow, cash and debt by quarter and by fiscal year, and revenue by segment, read from the company's own filings with the US Securities and Exchange Commission. Free to everyone; the Risk & Quality report that scores the company is the paid step.

revenue by segment: Pharmaceutical, Animal Health, Other segments, Other / unallocated
revenue by region: U.S., Non-US, Europe, Middle East and Africa, Latin America, Asia Pacific (other than China and Japan), Other, Japan, China

The numbers

Annual figures

Line	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$39.8B	$40.1B	$42.3B	$39.1B	$41.5B	$48.7B	$59.3B	$60.1B	$64.2B	$65B
Gross profit	$25.8B*	$27.2B*	$28.8B*	$27.1B*	$27.9B*	$35.1B*	$41.9B*	$44B*	$49B*	$48.6B*
Net income	$3.9B	$2.4B	$6.2B	$9.8B	$7.1B	$13B	$14.5B	$365M	$17.1B	$18.3B
EPS (diluted)	$1.41	$0.87	$2.32	$3.81	$2.78	$5.14	$5.71	$0.14	$6.74	$7.28
Operating cash flow	$10.4B	$6.5B	$10.9B	$13.4B	$10.3B	$13.1B	$19.1B	$13B	$21.5B	$16.5B
Free cash flow	$8.8B*	$4.6B*	$8.3B*	$10.1B*	$5.8B*	$8.7B*	$14.7B*	$9.1B*	$18.1B*	$12.4B*
Cash & equivalents	$6.5B	$6.1B	$8B	$9.7B	$8.1B	$8.1B	$12.7B	$6.8B	$13.2B	$14.6B
Total debt	$24.8B	$24.4B	$25.1B	$24.6B*	$27.7B*	$33B*	$30.4B*	$35B*	$37B*	$49.1B*
Gross margin	64.8%	67.8%	68.1%	69.3%	67.2%	72.0%	70.6%	73.2%	76.3%	74.8%
Net margin	9.8%	6.0%	14.7%	25.2%	17.0%	26.8%	24.5%	0.6%	26.7%	28.1%

Latest quarters

Line	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$16.7B	$15.6B*	$15.5B	$15.8B	$17.3B	$16.4B*	$16.3B	$16.6B
Gross profit	$12.6B*	$11.8B*	$12.1B*	$12.2B*	$13.4B*	$10.8B*	$12.1B*	$12.2B*
Net income	$3.2B	$3.7B*	$5.1B	$4.4B	$5.8B	$3B*	-$4.2B	-$1.3B
EPS (diluted)	$1.24	$1.48*	$2.01	$1.76	$2.32	$1.20*	-$1.72	-$0.54
Operating cash flow	$9.3B*	$3.5B*	$2.5B	$3.3B*	$7.8B*	$2.9B*	$3.9B	$5.4B*
Free cash flow	$8.5B*	$2.5B*	$1.2B*	$2.5B*	$6.8B*	$1.8B*	$2.9B*	$4.5B*
Cash & equivalents	$14.6B	$13.2B	$8.6B	$8B	$18.2B	$14.6B	$5.3B	$6.8B
Total debt	$35B	$37B*	$33.5B	$34B	$40B	$49.1B*	$46.7B	$51.1B
Gross margin	75.5%	75.5%	78.0%	77.5%	77.7%	66.2%	74.2%	73.5%
Net margin	19.0%	24.0%	32.7%	28.0%	33.5%	18.1%	-26.0%	-8.0%

Revenue by segment

Line	FY2017*	FY2018	FY2019*	FY2020	FY2021*	FY2022*	FY2023*	FY2024*	FY2025*
Pharmaceutical	$35.4B	$37.7B	$41.8B	$36.6B	$42.8B	$52B	$53.6B	$57.4B	$58.1B
Animal Health	$3.9B	$4.2B	$4.4B	$4.7B	$5.6B	$5.6B	$5.6B	$5.9B	$6.4B
Other segments	$397M	$250M	$175M	$23M	$0	$0	-	-	-
Other / unallocated	$460M*	-	$521M*	-	$382M*	$1.7B*	$907M*	$891M*	$515M*

Revenue by region

Line	FY2024	FY2025
U.S.	$32.2B	$36.4B
Non-US	$31.1B	$28.1B
Europe, Middle East and Africa	$14B	$14.6B
Latin America	$3.5B	$3.4B
Asia Pacific (other than China and Japan)	$3.1B	$3B
Other	$2.6B	$2.9B
Japan	$3.3B	$2.7B
China	$5.5B	$1.9B

Segment figures include sales between segments, so they add up to more than consolidated revenue.

* derived: a fourth quarter as the year less the three filed quarters, or a remainder as the total less the parts. All other figures are as filed.

About this page

Every figure on this page is read from Merck & Co., Inc.'s own SEC filings: the statement lines from the SEC's XBRL company-facts feed, the revenue splits from the segment and revenue notes of each 10-K and 10-Q. Nothing is typed in or estimated. The cache refreshes daily.

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