Merck & Co. (MRK): financials, SEC filings and peers
Merck & Co. (MRK) is a pharmaceuticals company in the Health Care sector of the S&P 500, headquartered in Kenilworth, New Jersey.
It was founded in 1891 and joined the S&P 500 on March 4, 1957.
Its fiscal year ends in December, and its shares trade on the NYSE.
In its SEC filings it is classified as “Pharmaceutical Preparations”.
Merck & Co. at a glance
- Revenue (12 months)
- $66.6B
- Revenue growth
- +4.6%
- Operating margin
- 11.6%
- Net income (12 months)
- $3.2B
- Free cash flow (12 months)
- $16.1B
- Cash
- $6.8B
- Debt
- $53.9B
- Diluted EPS (12 months)
- $1.26
Twelve months to June 30, 2026, from the 10-Q filed August 7, 2026.
Latest twelve months
Over the twelve months to June 30, 2026, Merck & Co. reported revenue of $66.6 billion, about the same as a year earlier (+4.6%).
Its operating margin was 11.6%, down 20.6 percentage points from a year earlier: for every $100 of sales, about $12 was left as operating profit.
Net income was $3.2 billion (4.8% of revenue), 80.7% lower than a year earlier.
Operating cash flow was $20.0 billion and capital spending $3.9 billion, leaving free cash flow of $16.1 billion (24.1% of revenue).
At the end of the period it held $6.8 billion in cash and $53.9 billion in debt, a net debt position of $47.1 billion.
The diluted share count fell 1.7% in a year, typically the result of buybacks.
Five-year trend
- Revenue went from $41.5 billion in fiscal 2020 to $65.0 billion in fiscal 2025, about 9.4% a year.
- Revenue has grown for 5 fiscal years in a row.
- Free cash flow was positive in each of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $48.7B | $59.3B | $60.1B | $64.2B | $65.0B |
| Revenue growth | 17.3% | 21.7% | 1.4% | 6.7% | 1.3% |
| Operating margin | — | — | — | — | — |
| Net income | $13.0B | $14.5B | $365M | $17.1B | $18.3B |
| Free cash flow | $8.7B | $14.7B | $9.1B | $18.1B | $12.4B |
| Diluted EPS | $5.14 | $5.71 | $0.14 | $6.74 | $7.28 |
Fiscal years as reported in Merck & Co.’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
Companies like Merck & Co.
Other S&P 500 companies in Pharmaceuticals:
- BMYBristol Myers SquibbNew York City, New York
- JNJJohnson & JohnsonNew Brunswick, New Jersey
- LLYLilly (Eli)Indianapolis, Indiana
- PFEPfizerNew York City, New York
- VTRSViatrisPittsburgh, Pennsylvania
- ZTSZoetisParsippany, New Jersey
More from Health Care
Questions about Merck & Co.
Is Merck & Co.'s revenue growing?
Yes. Revenue for the twelve months to June 30, 2026 was $66.6 billion, up 4.6% from a year earlier, according to its SEC filings.
Is Merck & Co. profitable?
Yes. It earned $3.2 billion in net income over the twelve months to June 30, 2026, a net margin of 4.8%.
Does Merck & Co. have more cash or more debt?
At June 30, 2026 it had $6.8 billion in cash and $53.9 billion in debt, so more debt than cash.
When did Merck & Co. last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on August 7, 2026.
Which companies are similar to Merck & Co.?
In the S&P 500, Merck & Co. is grouped in Pharmaceuticals within the Health Care sector. Bristol Myers Squibb (BMY), Johnson & Johnson (JNJ), Lilly (Eli) (LLY), Pfizer (PFE), Viatris (VTRS) are in the same group.
Understand the numbers
Source: Merck & Co.’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved September 27, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.