Free Trial

Merck & Co., Inc. (MRK) Financials

Merck & Co., Inc. logo
$76.07 -0.10 (-0.13%)
As of 01:08 PM Eastern
This is a fair market value price provided by Polygon.io. Learn more.
Annual Income Statements for Merck & Co., Inc.

Annual Income Statements for Merck & Co., Inc.

This table shows Merck & Co., Inc.'s income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Income / (Loss) Attributable to Common Shareholders
17,117 365 14,519 13,036 7,067 9,843 6,220 2,394 3,920 4,442
Consolidated Net Income / (Loss)
17,133 377 14,526 13,049 7,071 9,759 6,193 2,418 3,941 4,459
Net Income / (Loss) Continuing Operations
17,133 377 14,526 12,358 4,523 5,606 6,193 2,418 3,941 4,459
Total Pre-Tax Income
19,936 1,889 16,444 13,879 5,863 7,171 8,701 6,521 4,659 5,401
Total Operating Income
19,912 2,355 17,945 12,538 4,973 7,300 8,299 6,021 4,848 6,928
Total Gross Profit
48,975 43,989 41,872 35,078 27,900 27,105 28,785 27,210 25,777 24,564
Total Revenue
64,168 60,115 59,283 48,704 41,518 39,121 42,294 40,122 39,807 39,498
Operating Revenue
64,168 60,115 59,283 48,704 41,518 39,121 42,294 40,122 39,807 39,498
Total Cost of Revenue
15,193 16,126 17,411 13,626 13,618 12,016 13,509 12,912 14,030 14,934
Operating Cost of Revenue
15,193 16,126 17,411 13,626 13,618 12,016 13,509 12,912 14,030 14,934
Total Operating Expenses
29,063 41,634 23,927 22,540 22,927 19,805 20,486 21,189 20,929 17,636
Selling, General & Admin Expense
10,816 10,504 10,042 9,634 8,955 9,455 10,102 10,074 10,017 10,313
Research & Development Expense
17,938 30,531 13,548 12,245 13,397 9,724 9,752 10,339 10,261 6,704
Restructuring Charge
309 599 337 661 575 626 632 776 651 619
Total Other Income / (Expense), net
24 -466 -1,501 1,341 890 -129 402 500 -189 -1,527
Other Income / (Expense), net
24 -466 -1,501 1,341 890 -129 402 500 -189 -1,527
Income Tax Expense
2,803 1,512 1,918 1,521 1,340 1,565 2,508 4,103 718 942
Net Income / (Loss) Attributable to Noncontrolling Interest
16 12 7.00 13 4.00 -84 -27 24 21 17
Basic Earnings per Share
$6.76 $0.14 $5.73 $5.16 $2.79 $3.84 $2.34 $0.88 $1.42 $1.58
Weighted Average Basic Shares Outstanding
2.53B 2.53B 2.54B 2.53B 2.53B 2.54B 2.66B 2.73B 2.77B 2.78B
Diluted Earnings per Share
$6.74 $0.14 $5.71 $5.14 $2.78 $3.81 $2.32 $0.87 $1.41 $1.56
Weighted Average Diluted Shares Outstanding
2.53B 2.53B 2.54B 2.53B 2.53B 2.54B 2.66B 2.73B 2.77B 2.78B
Weighted Average Basic & Diluted Shares Outstanding
2.53B 2.53B 2.54B 2.53B 2.53B 2.54B 2.66B 2.73B 2.77B 2.78B
Cash Dividends to Common per Share
$3.12 $2.96 $2.80 $2.64 $2.48 $2.26 $1.99 $1.89 $1.85 $1.81

Quarterly Income Statements for Merck & Co., Inc.

This table shows Merck & Co., Inc.'s income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders
5,079 3,743 3,157 5,455 4,762 -1,226 4,745 -5,975 2,821 3,017 3,248
Consolidated Net Income / (Loss)
5,085 3,744 3,161 5,461 4,767 -1,226 4,750 -5,972 2,825 3,017 3,253
Net Income / (Loss) Continuing Operations
5,085 3,744 3,161 5,461 4,767 -1,226 4,750 -5,972 2,825 3,017 3,253
Total Pre-Tax Income
5,903 4,170 4,090 6,006 5,670 -2,046 5,620 -5,335 3,650 3,513 3,583
Total Operating Income
5,868 4,299 3,928 6,048 5,637 -1,967 5,746 -5,163 3,739 3,439 4,012
Total Gross Profit
12,110 11,796 12,577 12,367 12,235 10,719 11,698 11,011 10,561 9,949 11,025
Total Revenue
15,529 15,624 16,657 16,112 15,775 14,631 15,962 15,035 14,487 13,830 14,959
Operating Revenue
15,529 15,624 16,657 16,112 15,775 14,631 15,962 15,035 14,487 13,830 14,959
Total Cost of Revenue
3,419 3,828 4,080 3,745 3,540 3,912 4,264 4,024 3,926 3,881 3,934
Operating Cost of Revenue
3,419 3,828 4,080 3,745 3,540 3,912 4,264 4,024 3,926 3,881 3,934
Total Operating Expenses
6,242 7,497 8,649 6,319 6,598 12,686 5,952 16,174 6,822 6,510 7,013
Selling, General & Admin Expense
2,552 2,863 2,731 2,739 2,483 2,804 2,519 2,702 2,479 2,687 2,520
Research & Development Expense
3,621 4,584 5,862 3,500 3,992 9,627 3,307 13,321 4,276 3,775 4,399
Restructuring Charge
69 50 56 80 123 255 126 151 67 48 94
Total Other Income / (Expense), net
35 -129 162 -42 33 -79 -126 -172 -89 74 -429
Other Income / (Expense), net
35 -129 162 -42 33 -79 -126 -172 -89 74 -429
Income Tax Expense
818 426 929 545 903 -820 870 637 825 496 330
Net Income / (Loss) Attributable to Noncontrolling Interest
6.00 1.00 4.00 6.00 5.00 - 5.00 3.00 4.00 - 5.00
Basic Earnings per Share
$2.01 $1.48 $1.25 $2.15 $1.88 ($0.49) $1.87 ($2.35) $1.11 $1.19 $1.28
Weighted Average Basic Shares Outstanding
2.51B 2.53B 2.53B 2.53B 2.53B 2.53B 2.53B 2.54B 2.54B 2.54B 2.54B
Diluted Earnings per Share
$2.01 $1.49 $1.24 $2.14 $1.87 ($0.48) $1.86 ($2.35) $1.11 $1.18 $1.28
Weighted Average Diluted Shares Outstanding
2.51B 2.53B 2.53B 2.53B 2.53B 2.53B 2.53B 2.54B 2.54B 2.54B 2.54B
Weighted Average Basic & Diluted Shares Outstanding
2.51B 2.53B 2.53B 2.53B 2.53B 2.53B 2.53B 2.54B 2.54B 2.54B 2.54B
Cash Dividends to Common per Share
$0.81 $0.81 $0.77 $0.77 $0.77 $0.77 $0.73 $0.73 $0.73 $0.73 $0.69

Annual Cash Flow Statements for Merck & Co., Inc.

This table details how cash moves in and out of Merck & Co., Inc.'s business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Change in Cash & Equivalents
6,409 -5,864 4,606 14 -1,769 1,967 2,076 -876 -2,009 1,083
Net Cash From Operating Activities
21,468 13,006 19,095 13,122 7,617 8,884 10,922 6,451 10,376 12,538
Net Cash From Continuing Operating Activities
21,468 13,006 19,095 13,122 7,617 8,884 10,922 6,451 10,376 12,538
Net Income / (Loss) Continuing Operations
17,133 377 14,526 12,358 4,523 5,606 6,193 2,418 3,941 4,459
Consolidated Net Income / (Loss)
17,133 377 14,526 12,358 4,523 - 6,193 2,418 3,941 4,459
Depreciation Expense
2,104 1,828 1,824 1,578 1,669 1,615 1,416 4,676 5,471 6,375
Amortization Expense
2,395 2,044 2,085 1,636 1,817 1,695 3,103 - - -
Non-Cash Adjustments To Reconcile Net Income
4,752 12,861 5,010 1,202 4,775 2,605 2,272 1,648 5,086 2,736
Changes in Operating Assets and Liabilities, net
-4,916 -4,104 -4,350 -3,652 -5,167 -2,637 -2,062 -2,291 -4,122 -1,032
Net Cash From Investing Activities
-7,734 -14,083 -4,960 -16,421 -9,193 -2,529 4,314 2,679 -3,210 -4,758
Net Cash From Continuing Investing Activities
-7,734 -14,083 -4,960 -16,421 -9,193 -2,529 4,314 2,679 -3,210 -4,758
Purchase of Property, Plant & Equipment
-3,372 -3,863 -4,388 -4,448 -4,429 -3,369 -2,615 -1,888 -1,614 -1,283
Acquisitions
-3,393 -12,032 0.00 -12,907 -6,606 -4,954 -431 -396 -780 -7,744
Purchase of Investments
-519 -955 -1,204 -1.00 -95 -3,202 -7,994 -10,739 -15,651 -16,681
Sale and/or Maturity of Investments
377 1,658 721 1,026 2,812 8,622 15,252 15,664 14,353 20,413
Other Investing Activities, net
-827 1,109 -89 -91 -875 374 102 38 482 221
Net Cash From Financing Activities
-7,032 -4,810 -9,119 3,097 -2,832 -8,861 -13,160 -10,006 -9,044 -5,387
Net Cash From Continuing Financing Activities
-7,032 -4,810 -9,119 3,097 -2,832 -8,861 -13,160 -10,006 -9,044 -5,387
Repayment of Debt
-1,662 -2,083 -2,491 -6,591 156 -3,705 -4,612 -1,324 -2,504 -4,507
Repurchase of Common Equity
-1,306 -1,346 0.00 -840 -1,281 -4,780 -9,091 -4,014 -3,434 -4,186
Payment of Dividends
-7,840 -7,445 -7,012 -6,610 -6,215 -5,695 -5,172 -5,167 -5,124 -5,117
Issuance of Debt
3,599 5,939 0.00 7,936 4,419 4,958 5,124 0.00 1,079 7,938
Other Financing Activities, net
177 125 384 9,202 89 361 591 499 939 485
Other Net Changes in Cash
-293 - - 349 2,386 4,456 - - -131 -

Quarterly Cash Flow Statements for Merck & Co., Inc.

This table details how cash moves in and out of Merck & Co., Inc.'s business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents
-4,586 -1,370 3,315 5,702 -1,238 -1,760 2,957 -4,074 -2,987 1,494 1,526
Net Cash From Operating Activities
2,500 3,450 9,291 5,637 3,090 246 7,717 3,704 1,339 4,430 5,602
Net Cash From Continuing Operating Activities
2,500 3,450 9,291 5,637 3,090 246 7,717 3,704 1,339 4,430 5,602
Net Income / (Loss) Continuing Operations
5,085 3,744 3,161 5,461 4,767 -1,226 4,750 -5,972 2,825 3,018 3,252
Consolidated Net Income / (Loss)
5,085 3,744 3,161 5,461 4,767 -1,226 4,750 -5,972 2,825 3,018 3,252
Depreciation Expense
502 522 553 518 511 502 452 426 448 430 499
Amortization Expense
597 675 633 614 473 462 562 477 543 462 460
Non-Cash Adjustments To Reconcile Net Income
214 980 2,763 237 772 1,295 112 10,764 690 1,174 1,789
Changes in Operating Assets and Liabilities, net
-3,898 -2,471 2,181 -1,193 -3,433 -787 1,841 -1,991 -3,167 -654 -398
Net Cash From Investing Activities
-1,487 -1,444 -3,845 -1,069 -1,376 53 -334 -11,443 -2,359 -1,748 -962
Net Cash From Continuing Investing Activities
-1,487 -1,444 -3,845 -1,069 -1,376 53 -334 -11,443 -2,359 -1,748 -962
Purchase of Property, Plant & Equipment
-1,328 -937 -783 -791 -861 -989 -902 -965 -1,007 -1,149 -1,126
Acquisitions
0.00 -2.00 -2,645 - -746 - - -10,705 -1,327 121 -121
Purchase of Investments
-595 -455 - -49 -15 -251 -117 -25 -562 -494 -5.00
Sale and/or Maturity of Investments
456 7.00 50 60 260 169 704 285 500 12 335
Other Investing Activities, net
-20 -57 -467 -289 -14 1,124 -19 -33 37 -238 -45
Net Cash From Financing Activities
-5,755 -3,009 -2,425 1,216 -2,814 -2,245 -4,269 3,758 -2,054 -1,554 -2,702
Net Cash From Continuing Financing Activities
-5,755 -3,009 -2,425 1,216 -2,814 -2,245 -4,269 3,758 -2,054 -1,554 -2,702
Repayment of Debt
-2,560 -581 -32 -220 -829 -6.00 -1,948 -47 -82 -69 -965
Repurchase of Common Equity
-1,164 -489 -444 -251 -122 -393 -466 -338 -149 - -
Payment of Dividends
-2,050 -1,951 -1,953 -1,986 -1,950 -1,852 -1,855 -1,885 -1,853 -1,750 -1,747
Other Financing Activities, net
19 12 5.00 73 87 6.00 7.00 82 30 265 10
Effect of Exchange Rate Changes
156 - - - -138 - - -93 87 366 -412

Annual Balance Sheets for Merck & Co., Inc.

This table presents Merck & Co., Inc.'s assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Total Assets
117,106 106,675 109,160 105,694 91,588 84,397 82,637 87,872 95,377 101,677
Total Current Assets
38,782 32,168 35,722 30,266 27,764 27,483 25,875 24,766 30,614 29,751
Cash & Equivalents
13,242 6,841 12,694 8,096 8,050 9,676 7,965 6,092 6,515 8,524
Short-Term Investments
447 252 498 0.00 - 774 899 2,406 7,826 4,903
Accounts Receivable
10,278 10,349 9,450 9,230 6,803 6,778 7,071 6,873 7,018 6,484
Inventories, net
6,109 6,358 5,911 5,953 5,554 5,978 5,440 5,096 4,866 4,700
Other Current Assets
8,706 8,368 7,169 6,987 4,674 4,277 4,500 4,299 4,389 5,140
Plant, Property, & Equipment, net
23,779 23,051 21,422 19,279 17,000 15,053 13,291 12,439 12,026 12,507
Plant, Property & Equipment, gross
42,934 41,317 39,407 37,471 35,162 32,739 29,615 29,041 27,775 28,430
Accumulated Depreciation
19,155 18,266 17,985 18,192 18,162 17,686 16,324 16,602 15,749 15,923
Total Noncurrent Assets
54,545 51,456 52,016 56,149 46,824 41,861 43,471 50,667 52,737 59,419
Long-Term Investments
463 252 1,015 370 785 1,469 6,233 12,125 11,416 13,039
Goodwill
21,668 21,197 21,204 21,264 18,882 19,425 18,253 18,284 18,162 17,723
Intangible Assets
16,370 18,011 20,269 22,933 14,101 14,196 13,104 14,183 17,305 22,602
Other Noncurrent Operating Assets
16,044 11,996 9,528 - - 6,771 - - - -
Total Liabilities & Shareholders' Equity
117,106 106,675 109,160 105,694 91,588 84,397 82,637 87,872 95,377 101,677
Total Liabilities
70,734 69,040 63,102 67,437 66,184 58,396 55,755 53,303 55,069 56,910
Total Current Liabilities
28,420 25,694 24,239 23,872 27,327 22,220 22,206 18,614 17,204 19,201
Short-Term Debt
2,649 1,372 1,946 2,412 6,431 3,610 5,308 3,057 568 2,583
Accounts Payable
4,079 3,922 4,264 4,609 4,327 3,738 3,318 3,102 2,807 2,533
Dividends Payable
2,084 1,985 1,884 1,768 1,674 1,587 1,458 1,320 1,316 1,309
Current Deferred & Payable Income Tax Liabilities
3,914 2,649 1,986 1,224 1,597 736 1,971 708 2,239 1,560
Other Current Liabilities
15,694 15,766 14,159 13,859 12,212 12,549 10,151 10,427 10,274 11,216
Total Noncurrent Liabilities
42,314 43,346 38,863 43,565 38,857 36,176 33,549 34,689 37,865 37,709
Long-Term Debt
34,462 33,683 28,745 30,690 25,360 22,736 19,806 21,353 24,274 23,829
Noncurrent Deferred & Payable Income Tax Liabilities
1,387 871 1,795 3,441 1,005 1,470 1,702 2,219 5,077 6,535
Other Noncurrent Operating Liabilities
6,465 8,792 8,323 9,434 12,306 11,970 12,041 11,117 8,514 7,345
Total Equity & Noncontrolling Interests
46,372 37,635 46,058 38,257 25,404 26,001 26,882 34,569 40,308 44,767
Total Preferred & Common Equity
46,313 37,581 45,991 38,184 25,317 25,907 26,701 34,336 40,088 44,676
Total Common Equity
46,313 37,581 45,991 38,184 25,317 25,907 26,701 34,336 40,088 44,676
Common Stock
46,492 46,297 46,167 46,026 41,376 41,448 40,596 41,690 41,727 42,010
Retained Earnings
63,069 53,895 61,081 53,696 47,362 46,602 42,579 41,350 44,133 45,348
Treasury Stock
-58,303 -57,450 -56,489 -57,109 -56,787 -55,950 -50,929 -43,794 -40,546 -38,534
Accumulated Other Comprehensive Income / (Loss)
-4,945 -5,161 -4,768 -4,429 -6,634 -6,193 -5,545 -4,910 -5,226 -4,148
Noncontrolling Interest
59 54 67 73 87 94 181 233 220 91

Quarterly Balance Sheets for Merck & Co., Inc.

This table presents Merck & Co., Inc.'s assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Total Assets
115,122 117,106 117,532 112,630 105,849 106,675 106,727 104,469 107,796 109,160 107,081
Total Current Assets
35,503 38,782 40,361 38,205 31,445 32,168 31,954 29,977 33,402 35,722 33,561
Cash & Equivalents
8,629 13,242 14,593 11,304 5,579 6,841 8,605 5,660 9,707 12,694 11,145
Short-Term Investments
599 447 0.00 50 40 252 168 718 680 498 103
Accounts Receivable
10,790 10,278 11,381 11,642 11,366 10,349 10,394 11,030 10,415 9,450 9,482
Inventories, net
6,196 6,109 6,244 6,469 6,510 6,358 6,131 5,930 5,863 5,911 5,614
Other Current Assets
9,289 8,706 8,143 8,740 7,950 8,368 6,656 - - 7,169 -
Plant, Property, & Equipment, net
24,793 23,779 23,446 23,221 23,045 23,051 22,526 22,231 21,758 21,422 20,424
Total Noncurrent Assets
54,826 54,545 53,725 51,204 51,359 51,456 52,247 52,261 52,636 52,016 53,096
Long-Term Investments
616 463 575 357 280 252 1,306 1,214 1,290 1,015 984
Goodwill
21,684 21,668 21,697 21,161 21,181 21,197 21,183 21,195 21,209 21,204 21,160
Intangible Assets
15,758 16,370 17,010 16,984 17,572 18,011 19,199 19,665 19,857 20,269 21,368
Other Noncurrent Operating Assets
16,768 16,044 14,443 12,702 12,326 11,996 10,559 - - 9,528 -
Total Liabilities & Shareholders' Equity
115,122 117,106 117,532 112,630 105,849 106,675 106,727 104,469 107,796 109,160 107,081
Total Liabilities
66,722 70,734 72,972 68,982 65,425 69,040 65,427 65,727 60,891 63,102 62,557
Total Current Liabilities
25,174 28,420 29,586 26,060 25,099 25,694 23,094 23,394 23,131 24,239 22,998
Short-Term Debt
1,360 2,649 3,149 3,071 3,077 1,372 887 2,839 2,672 1,946 1,936
Accounts Payable
3,784 4,079 3,586 3,519 3,514 3,922 3,509 3,442 3,680 4,264 3,371
Dividends Payable
2,077 2,084 1,982 1,981 2,008 1,985 1,877 1,877 1,907 1,884 1,771
Current Deferred & Payable Income Tax Liabilities
5,181 3,914 4,330 2,777 2,398 2,649 1,981 1,489 1,872 1,986 1,698
Other Current Liabilities
12,772 15,694 16,539 14,712 14,102 15,766 14,840 13,747 13,000 14,159 14,222
Total Noncurrent Liabilities
41,548 42,314 43,386 42,922 40,326 43,346 42,333 42,333 37,760 38,863 39,559
Long-Term Debt
33,484 34,462 34,982 34,717 31,142 33,683 33,972 34,072 28,074 28,745 28,482
Noncurrent Deferred & Payable Income Tax Liabilities
1,409 1,387 864 876 922 871 1,018 996 1,442 1,795 2,417
Other Noncurrent Operating Liabilities
6,655 6,465 7,540 7,329 8,262 8,792 7,343 7,265 8,244 8,323 8,660
Total Equity & Noncontrolling Interests
48,400 46,372 44,560 43,648 40,424 37,635 41,300 38,742 46,905 46,058 44,524
Total Preferred & Common Equity
48,335 46,313 44,502 43,582 40,364 37,581 41,246 38,693 46,834 45,991 44,458
Total Common Equity
48,335 46,313 44,502 43,582 40,364 37,581 41,246 38,693 46,834 45,991 44,458
Common Stock
46,604 46,492 46,318 46,150 46,386 46,297 46,146 46,007 46,255 46,167 46,031
Retained Earnings
66,097 63,069 61,384 60,187 56,697 53,895 57,082 54,198 62,039 61,081 59,928
Treasury Stock
-59,401 -58,303 -57,829 -57,394 -57,445 -57,450 -57,066 -56,612 -56,577 -56,489 -56,758
Accumulated Other Comprehensive Income / (Loss)
-4,965 -4,945 -5,371 -5,361 -5,274 -5,161 -4,916 -4,900 -4,883 -4,768 -4,743
Noncontrolling Interest
65 59 58 66 60 54 54 49 71 67 66

Annual Metrics And Ratios for Merck & Co., Inc.

This table displays calculated financial ratios and metrics derived from Merck & Co., Inc.'s official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Growth Metrics
- - - - - - - - - -
Revenue Growth
6.74% 1.40% 21.72% 17.31% 6.13% -7.50% 5.41% 0.79% 0.78% -6.48%
EBITDA Growth
324.15% -71.69% 19.07% 82.83% -10.80% -20.72% 18.07% 10.53% -13.98% -50.88%
EBIT Growth
955.37% -88.51% 18.48% 136.72% -18.24% -17.58% 33.43% 39.97% -13.74% -68.75%
NOPAT Growth
3,540.91% -97.04% 41.99% 191.00% -32.78% -3.39% 164.57% -45.56% -28.30% 46.09%
Net Income Growth
4,444.56% -97.40% 11.32% 84.54% -27.54% 57.58% 156.12% -38.65% -11.62% -62.64%
EPS Growth
4,714.29% -97.55% 11.09% 84.89% -27.03% 64.22% 166.67% -38.30% -9.62% -61.67%
Operating Cash Flow Growth
65.06% -31.89% 45.52% 72.27% -14.26% -18.66% 69.31% -37.83% -17.24% 56.94%
Free Cash Flow Firm Growth
635.23% -115.13% 299.86% -2,095.24% -80.31% -71.65% 121.27% -65.31% 378.91% -84.99%
Invested Capital Growth
6.07% 4.51% -0.36% 42.27% 8.17% 9.54% -3.32% -2.54% -11.54% 8.88%
Revenue Q/Q Growth
1.57% 1.35% 0.52% 9.79% 13.79% -14.90% 1.35% 0.80% -0.25% -0.67%
EBITDA Q/Q Growth
35.86% -48.78% -1.64% 74.24% 18.46% -11.84% 4.40% 40.31% -20.09% -48.31%
EBIT Q/Q Growth
45.31% -74.64% -2.35% 111.96% -24.67% -36.42% 9.10% 98.45% -31.80% -67.06%
NOPAT Q/Q Growth
41.46% -90.24% -3.72% 168.05% -29.08% -40.40% 90.70% -15.78% -35.00% 35.91%
Net Income Q/Q Growth
40.86% -91.84% -4.85% 81.39% -38.59% 6.18% 83.39% -15.75% -28.46% -58.73%
EPS Q/Q Growth
41.30% -92.22% -4.99% 80.99% -38.50% 6.42% 85.60% -17.14% -28.06% -58.06%
Operating Cash Flow Q/Q Growth
17.54% -24.34% -3.37% 14.73% 71.36% -27.41% -3.76% 6.38% -5.59% 72.77%
Free Cash Flow Firm Q/Q Growth
23.49% -281.89% 192.71% -635.94% 135.93% -58.35% 5.77% -33.68% 3.38% 2,093.34%
Invested Capital Q/Q Growth
2.75% -0.92% -0.09% 20.83% -10.62% -5.20% -3.29% -8.57% -10.86% -5.04%
Profitability Metrics
- - - - - - - - - -
Gross Margin
76.32% 73.17% 70.63% 72.02% 67.20% 69.29% 68.06% 67.82% 64.75% 62.19%
EBITDA Margin
38.08% 9.58% 34.33% 35.10% 22.52% 26.79% 31.26% 27.91% 25.45% 29.81%
Operating Margin
31.03% 3.92% 30.27% 25.74% 11.98% 18.66% 19.62% 15.01% 12.18% 17.54%
EBIT Margin
31.07% 3.14% 27.74% 28.50% 14.12% 18.33% 20.57% 16.25% 11.70% 13.67%
Profit (Net Income) Margin
26.70% 0.63% 24.50% 26.79% 17.03% 24.95% 14.64% 6.03% 9.90% 11.29%
Tax Burden Percent
85.94% 19.96% 88.34% 94.02% 120.60% 136.09% 71.18% 37.08% 84.59% 82.56%
Interest Burden Percent
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate
14.06% 80.04% 11.66% 10.96% 22.86% 21.82% 28.82% 62.92% 15.41% 17.44%
Return on Invested Capital (ROIC)
24.67% 0.71% 24.56% 20.28% 8.77% 14.20% 15.14% 5.55% 9.46% 12.96%
ROIC Less NNEP Spread (ROIC-NNEP)
24.74% 0.33% 18.64% 28.39% 26.71% 43.68% 18.59% 12.29% -9.85% 60.82%
Return on Net Nonoperating Assets (RNNOA)
16.12% 0.19% 9.90% 20.72% 18.74% 22.71% 5.02% 0.90% -0.19% -3.42%
Return on Equity (ROE)
40.79% 0.90% 34.46% 41.00% 27.51% 36.91% 20.16% 6.46% 9.26% 9.53%
Cash Return on Invested Capital (CROIC)
18.78% -3.69% 24.92% -14.62% 0.92% 5.10% 18.52% 8.12% 21.71% 4.45%
Operating Return on Assets (OROA)
17.82% 1.75% 15.31% 14.07% 6.66% 8.59% 10.21% 7.12% 4.73% 5.41%
Return on Assets (ROA)
15.31% 0.35% 13.52% 13.23% 8.04% 11.69% 7.26% 2.64% 4.00% 4.46%
Return on Common Equity (ROCE)
40.73% 0.90% 34.40% 40.89% 27.41% 36.72% 20.02% 6.42% 9.23% 9.51%
Return on Equity Simple (ROE_SIMPLE)
36.99% 1.00% 31.58% 34.17% 27.93% 37.67% 23.19% 7.04% 9.83% 9.98%
Net Operating Profit after Tax (NOPAT)
17,112 470 15,852 11,164 3,836 5,707 5,907 2,233 4,101 5,720
NOPAT Margin
26.67% 0.78% 26.74% 22.92% 9.24% 14.59% 13.97% 5.56% 10.30% 14.48%
Net Nonoperating Expense Percent (NNEP)
-0.08% 0.39% 5.92% -8.12% -17.94% -29.48% -3.45% -6.73% 19.31% -47.86%
Return On Investment Capital (ROIC_SIMPLE)
20.50% 0.65% 20.65% 15.64% 6.71% 10.90% 11.36% 3.79% 6.29% 8.04%
Cost of Revenue to Revenue
23.68% 26.83% 29.37% 27.98% 32.80% 30.72% 31.94% 32.18% 35.25% 37.81%
SG&A Expenses to Revenue
16.86% 17.47% 16.94% 19.78% 21.57% 24.17% 23.89% 25.11% 25.16% 26.11%
R&D to Revenue
27.95% 50.79% 22.85% 25.14% 32.27% 24.86% 23.06% 25.77% 25.78% 16.97%
Operating Expenses to Revenue
45.29% 69.26% 40.36% 46.28% 55.22% 50.63% 48.44% 52.81% 52.58% 44.65%
Earnings before Interest and Taxes (EBIT)
19,936 1,889 16,444 13,879 5,863 7,171 8,701 6,521 4,659 5,401
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
24,435 5,761 20,353 17,093 9,349 10,481 13,220 11,197 10,130 11,776
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
5.39 7.09 5.74 4.61 6.85 7.26 5.89 3.43 3.01 2.38
Price to Tangible Book Value (P/TBV)
30.15 0.00 58.45 0.00 0.00 0.00 0.00 62.94 26.15 24.46
Price to Revenue (P/Rev)
3.89 4.44 4.45 3.62 4.18 4.81 3.72 2.93 3.04 2.69
Price to Earnings (P/E)
14.58 730.45 18.19 13.51 24.55 19.11 25.26 49.14 30.83 23.96
Dividend Yield
3.16% 2.81% 2.69% 3.79% 3.62% 3.06% 3.29% 4.38% 4.22% 4.75%
Earnings Yield
6.86% 0.14% 5.50% 7.40% 4.07% 5.23% 3.96% 2.04% 3.24% 4.17%
Enterprise Value to Invested Capital (EV/IC)
3.82 4.37 4.36 3.11 4.32 4.82 4.36 3.07 2.95 2.31
Enterprise Value to Revenue (EV/Rev)
4.25 4.90 4.73 4.12 4.73 5.18 3.96 3.03 3.02 2.70
Enterprise Value to EBITDA (EV/EBITDA)
11.15 51.10 13.79 11.75 21.02 19.33 12.66 10.87 11.86 9.04
Enterprise Value to EBIT (EV/EBIT)
13.67 155.84 17.07 14.47 33.52 28.26 19.23 18.66 25.79 19.71
Enterprise Value to NOPAT (EV/NOPAT)
15.92 626.34 17.70 17.99 51.22 35.51 28.33 54.49 29.30 18.61
Enterprise Value to Operating Cash Flow (EV/OCF)
12.69 22.63 14.70 15.30 25.80 22.81 15.32 18.86 11.58 8.49
Enterprise Value to Free Cash Flow (EV/FCFF)
20.92 0.00 17.45 0.00 487.13 98.90 23.16 37.25 12.76 54.16
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
0.80 0.93 0.67 0.87 1.25 1.01 0.93 0.71 0.62 0.59
Long-Term Debt to Equity
0.74 0.90 0.62 0.80 1.00 0.87 0.74 0.62 0.60 0.53
Financial Leverage
0.65 0.57 0.53 0.73 0.70 0.52 0.27 0.07 0.02 -0.06
Leverage Ratio
2.66 2.58 2.55 3.10 3.42 3.16 2.77 2.45 2.32 2.14
Compound Leverage Factor
2.66 2.58 2.55 3.10 3.42 3.16 2.77 2.45 2.32 2.14
Debt to Total Capital
44.45% 48.23% 39.99% 46.39% 55.58% 50.33% 48.30% 41.39% 38.13% 37.11%
Short-Term Debt to Total Capital
3.17% 1.89% 2.54% 3.38% 11.24% 6.90% 10.21% 5.18% 0.87% 3.63%
Long-Term Debt to Total Capital
41.28% 46.34% 37.45% 43.01% 44.34% 43.43% 38.09% 36.20% 37.26% 33.48%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.07% 0.07% 0.09% 0.10% 0.15% 0.18% 0.35% 0.40% 0.34% 0.13%
Common Equity to Total Capital
55.48% 51.70% 59.92% 53.51% 44.26% 49.49% 51.35% 58.22% 61.53% 62.77%
Debt to EBITDA
1.52 6.08 1.51 1.94 3.40 2.51 1.90 2.18 2.45 2.24
Net Debt to EBITDA
0.94 4.81 0.81 1.44 2.46 1.38 0.76 0.34 -0.09 0.00
Long-Term Debt to EBITDA
1.41 5.85 1.41 1.80 2.71 2.17 1.50 1.91 2.40 2.02
Debt to NOPAT
2.17 74.58 1.94 2.97 8.29 4.62 4.25 10.93 6.06 4.62
Net Debt to NOPAT
1.34 58.96 1.04 2.21 5.98 2.53 1.70 1.70 -0.22 -0.01
Long-Term Debt to NOPAT
2.01 71.67 1.81 2.75 6.61 3.98 3.35 9.56 5.92 4.17
Altman Z-Score
4.09 3.72 4.46 3.24 2.97 3.52 3.33 2.77 2.71 2.43
Noncontrolling Interest Sharing Ratio
0.13% 0.14% 0.17% 0.25% 0.35% 0.52% 0.67% 0.61% 0.37% 0.25%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
1.36 1.25 1.47 1.27 1.02 1.24 1.17 1.33 1.78 1.55
Quick Ratio
0.84 0.68 0.93 0.73 0.54 0.78 0.72 0.83 1.24 1.04
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
13,027 -2,434 16,087 -8,049 403 2,049 7,226 3,266 9,414 1,966
Operating Cash Flow to CapEx
636.65% 336.68% 435.16% 295.01% 171.98% 263.70% 417.67% 341.68% 642.87% 977.24%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.57 0.56 0.55 0.49 0.47 0.47 0.50 0.44 0.40 0.40
Accounts Receivable Turnover
6.22 6.07 6.35 6.08 6.11 5.65 6.07 5.78 5.90 6.03
Inventory Turnover
2.44 2.63 2.94 2.37 2.36 2.10 2.56 2.59 2.93 2.91
Fixed Asset Turnover
2.74 2.70 2.91 2.69 2.59 2.76 3.29 3.28 3.25 3.08
Accounts Payable Turnover
3.80 3.94 3.92 3.05 3.38 3.41 4.21 4.37 5.25 5.79
Days Sales Outstanding (DSO)
58.67 60.11 57.51 60.08 59.70 64.61 60.17 63.19 61.90 60.57
Days Inventory Outstanding (DIO)
149.76 138.85 124.36 154.12 154.54 173.42 142.34 140.80 124.43 125.52
Days Payable Outstanding (DPO)
96.11 92.64 93.01 119.68 108.08 107.17 86.73 83.52 69.46 63.03
Cash Conversion Cycle (CCC)
112.31 106.31 88.86 94.51 106.16 130.86 115.77 120.47 116.87 123.06
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
71,415 67,330 64,426 64,661 45,448 42,015 38,357 39,676 40,709 46,022
Invested Capital Turnover
0.93 0.91 0.92 0.88 0.95 0.97 1.08 1.00 0.92 0.89
Increase / (Decrease) in Invested Capital
4,085 2,904 -235 19,213 3,433 3,658 -1,319 -1,033 -5,313 3,754
Enterprise Value (EV)
272,511 294,380 280,644 200,794 196,515 202,640 167,339 121,657 120,150 106,457
Market Capitalization
249,493 266,616 264,093 176,085 173,472 188,119 157,141 117,637 120,845 106,420
Book Value per Share
$18.31 $14.83 $18.14 $15.12 $10.01 $10.18 $10.27 $12.60 $14.54 $15.99
Tangible Book Value per Share
$3.27 ($0.64) $1.78 ($2.38) ($3.03) ($3.03) ($1.79) $0.69 $1.68 $1.56
Total Capital
83,483 72,690 76,749 71,359 57,195 52,347 51,996 58,979 65,150 71,179
Total Debt
37,111 35,055 30,691 33,102 31,791 26,346 25,114 24,410 24,842 26,412
Total Long-Term Debt
34,462 33,683 28,745 30,690 25,360 22,736 19,806 21,353 24,274 23,829
Net Debt
22,959 27,710 16,484 24,636 22,956 14,427 10,017 3,787 -915 -54
Capital Expenditures (CapEx)
3,372 3,863 4,388 4,448 4,429 3,369 2,615 1,888 1,614 1,283
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-678 753 237 710 -1,182 -1,577 113 711 -363 -294
Debt-free Net Working Capital (DFNWC)
13,011 7,846 13,429 8,806 6,868 8,873 8,977 9,209 13,978 13,133
Net Working Capital (NWC)
10,362 6,474 11,483 6,394 437 5,263 3,669 6,152 13,410 10,550
Net Nonoperating Expense (NNE)
-21 93 1,326 -1,885 -3,235 -4,052 -286 -185 160 1,261
Net Nonoperating Obligations (NNO)
25,043 29,695 18,368 26,404 20,044 16,014 11,475 5,107 401 1,255
Total Depreciation and Amortization (D&A)
4,499 3,872 3,909 3,214 3,486 3,310 4,519 4,676 5,471 6,375
Debt-free, Cash-free Net Working Capital to Revenue
-1.06% 1.25% 0.40% 1.46% -2.85% -4.03% 0.27% 1.77% -0.91% -0.74%
Debt-free Net Working Capital to Revenue
20.28% 13.05% 22.65% 18.08% 16.54% 22.68% 21.23% 22.95% 35.11% 33.25%
Net Working Capital to Revenue
16.15% 10.77% 19.37% 13.13% 1.05% 13.45% 8.68% 15.33% 33.69% 26.71%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$6.76 $0.14 $5.73 $5.16 $2.79 $3.84 $2.34 $0.88 $1.42 $1.58
Adjusted Weighted Average Basic Shares Outstanding
2.53B 2.53B 2.54B 2.53B 2.53B 2.54B 2.58B 2.70B 2.75B 2.78B
Adjusted Diluted Earnings per Share
$6.74 $0.14 $5.71 $5.14 $2.78 $3.81 $2.32 $0.87 $1.41 $1.56
Adjusted Weighted Average Diluted Shares Outstanding
2.53B 2.53B 2.54B 2.53B 2.53B 2.54B 2.58B 2.70B 2.75B 2.78B
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
2.53B 2.53B 2.54B 2.53B 2.53B 2.54B 2.58B 2.70B 2.75B 2.78B
Normalized Net Operating Profit after Tax (NOPAT)
17,378 2,068 16,150 11,753 4,280 6,196 6,357 4,758 4,652 6,231
Normalized NOPAT Margin
27.08% 3.44% 27.24% 24.13% 10.31% 15.84% 15.03% 11.86% 11.69% 15.77%
Pre Tax Income Margin
31.07% 3.14% 27.74% 28.50% 14.12% 18.33% 20.57% 16.25% 11.70% 13.67%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
45.76% 1,974.80% 48.27% 50.66% 87.89% 58.36% 83.51% 213.69% 130.02% 114.76%
Augmented Payout Ratio
53.38% 2,331.83% 48.27% 57.09% 106.01% 107.34% 230.31% 379.69% 217.15% 208.63%

Quarterly Metrics And Ratios for Merck & Co., Inc.

This table displays calculated financial ratios and metrics derived from Merck & Co., Inc.'s official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics
- - - - - - - - - - -
Revenue Growth
-1.56% 6.79% 4.35% 7.16% 8.89% 5.79% 6.71% 3.03% -8.89% 2.29% 13.72%
EBITDA Growth
5.23% 596.03% -20.47% 261.06% 43.37% -124.56% 46.06% -181.70% -22.40% -7.15% -24.61%
EBIT Growth
4.11% 303.81% -27.22% 212.58% 55.34% -158.24% 56.85% -218.90% -24.91% -10.13% -31.96%
NOPAT Growth
6.66% 380.33% -37.49% 252.16% 63.77% -146.62% 33.33% -183.38% -41.35% -15.57% -12.87%
Net Income Growth
6.67% 405.38% -33.45% 191.44% 68.74% -140.64% 46.02% -251.23% -34.41% -19.72% -28.77%
EPS Growth
7.49% 410.42% -33.33% 191.06% 68.47% -140.68% 45.31% -251.61% -34.71% -20.27% -28.89%
Operating Cash Flow Growth
-19.09% 1,302.44% 20.40% 52.19% 130.77% -94.45% 37.75% -13.90% -71.88% -13.05% 16.78%
Free Cash Flow Firm Growth
-82.34% 94.74% 7.77% 152.05% 551.22% -234.26% 118.85% 24.24% 103.63% 120.29% -582.77%
Invested Capital Growth
6.68% 6.07% 2.28% 2.53% 4.23% 4.51% 5.39% 5.36% 3.99% -0.36% 20.50%
Revenue Q/Q Growth
-0.61% -6.20% 3.38% 2.14% 7.82% -8.34% 6.17% 3.78% 4.75% -7.55% 2.51%
EBITDA Q/Q Growth
30.46% 1.72% -26.09% 7.27% 714.97% -116.31% 249.68% -195.50% 5.36% -3.02% -16.28%
EBIT Q/Q Growth
41.56% 1.96% -31.90% 5.93% 377.13% -136.41% 205.34% -246.16% 3.90% -1.95% -20.15%
NOPAT Q/Q Growth
30.96% 27.14% -44.80% 16.03% 444.20% -128.35% 234.38% -224.89% -2.02% -18.92% -15.96%
Net Income Q/Q Growth
35.82% 18.44% -42.12% 14.56% 488.83% -125.81% 179.54% -311.40% -6.36% -7.25% -17.62%
EPS Q/Q Growth
34.90% 20.16% -42.06% 14.44% 489.58% -125.81% 179.15% -311.71% -5.93% -7.81% -17.42%
Operating Cash Flow Q/Q Growth
-27.54% -62.87% 64.82% 82.43% 1,156.10% -96.81% 108.34% 176.62% -69.77% -20.92% 30.22%
Free Cash Flow Firm Q/Q Growth
246.48% -115.14% -60.13% 99.72% 143.64% -410.10% 119.26% -2,598.96% -91.00% 143.53% 22.59%
Invested Capital Q/Q Growth
5.69% 2.75% -3.07% 1.35% 5.08% -0.92% -2.83% 3.03% 5.36% -0.09% -2.87%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
77.98% 75.50% 75.51% 76.76% 77.56% 73.26% 73.29% 73.24% 72.90% 71.94% 73.70%
EBITDA Margin
45.09% 34.35% 31.67% 44.30% 42.18% -7.40% 41.56% -29.48% 32.04% 31.85% 30.36%
Operating Margin
37.79% 27.52% 23.58% 37.54% 35.73% -13.44% 36.00% -34.34% 25.81% 24.87% 26.82%
EBIT Margin
38.01% 26.69% 24.55% 37.28% 35.94% -13.98% 35.21% -35.48% 25.20% 25.40% 23.95%
Profit (Net Income) Margin
32.75% 23.96% 18.98% 33.89% 30.22% -8.38% 29.76% -39.72% 19.50% 21.81% 21.75%
Tax Burden Percent
86.14% 89.78% 77.29% 90.93% 84.07% 59.92% 84.52% 111.94% 77.40% 85.88% 90.79%
Interest Burden Percent
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate
13.86% 10.22% 22.71% 9.07% 15.93% 0.00% 15.48% 0.00% 22.60% 14.12% 9.21%
Return on Invested Capital (ROIC)
28.46% 22.85% 16.75% 30.11% 26.61% -8.59% 27.25% -20.56% 17.36% 19.61% 24.34%
ROIC Less NNEP Spread (ROIC-NNEP)
28.56% 22.43% 17.24% 29.98% 26.72% -7.96% 26.80% -29.26% 17.06% 19.90% 22.27%
Return on Net Nonoperating Assets (RNNOA)
18.46% 14.61% 10.36% 21.56% 15.70% -4.57% 14.55% -19.34% 8.80% 10.57% 10.42%
Return on Equity (ROE)
46.92% 37.46% 27.11% 51.67% 42.31% -13.16% 41.81% -39.91% 26.16% 30.18% 34.76%
Cash Return on Invested Capital (CROIC)
17.37% 18.78% 15.35% 17.19% -0.50% -3.69% 2.02% -0.11% 16.81% 24.92% 9.32%
Operating Return on Assets (OROA)
21.99% 15.31% 13.83% 21.46% 20.66% -7.79% 19.53% -19.56% 13.60% 14.02% 14.09%
Return on Assets (ROA)
18.94% 13.74% 10.69% 19.51% 17.37% -4.67% 16.51% -21.90% 10.52% 12.04% 12.79%
Return on Common Equity (ROCE)
46.85% 37.41% 27.08% 51.60% 42.25% -13.14% 41.75% -39.85% 26.12% 30.13% 34.70%
Return on Equity Simple (ROE_SIMPLE)
36.10% 0.00% 27.33% 31.55% 5.75% 0.00% 11.20% 8.07% 27.85% 0.00% 34.34%
Net Operating Profit after Tax (NOPAT)
5,055 3,860 3,036 5,499 4,739 -1,377 4,856 -3,614 2,894 2,953 3,642
NOPAT Margin
32.55% 24.70% 18.23% 34.13% 30.04% -9.41% 30.43% -24.04% 19.98% 21.36% 24.35%
Net Nonoperating Expense Percent (NNEP)
-0.11% 0.42% -0.49% 0.13% -0.11% -0.63% 0.46% 8.69% 0.30% -0.28% 2.07%
Return On Investment Capital (ROIC_SIMPLE)
6.07% 4.62% 3.67% 6.75% 6.35% -1.89% 6.38% -4.78% 3.73% 3.85% 4.86%
Cost of Revenue to Revenue
22.02% 24.50% 24.49% 23.24% 22.44% 26.74% 26.71% 26.76% 27.10% 28.06% 26.30%
SG&A Expenses to Revenue
16.43% 18.32% 16.40% 17.00% 15.74% 19.16% 15.78% 17.97% 17.11% 19.43% 16.85%
R&D to Revenue
23.32% 29.34% 35.19% 21.72% 25.31% 65.80% 20.72% 88.60% 29.52% 27.30% 29.41%
Operating Expenses to Revenue
40.20% 47.98% 51.92% 39.22% 41.83% 86.71% 37.29% 107.58% 47.09% 47.07% 46.88%
Earnings before Interest and Taxes (EBIT)
5,903 4,170 4,090 6,006 5,670 -2,046 5,620 -5,335 3,650 3,513 3,583
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
7,002 5,367 5,276 7,138 6,654 -1,082 6,634 -4,432 4,641 4,405 4,542
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
4.69 5.39 6.36 7.03 8.05 7.09 6.07 7.20 5.45 5.74 4.58
Price to Tangible Book Value (P/TBV)
20.81 30.15 48.86 56.35 201.58 0.00 289.71 0.00 44.27 58.45 105.43
Price to Revenue (P/Rev)
3.55 3.89 4.48 4.90 5.29 4.44 4.22 4.78 4.41 4.45 3.45
Price to Earnings (P/E)
13.01 14.58 23.31 22.30 140.82 730.45 54.32 89.57 19.59 18.19 13.34
Dividend Yield
3.52% 3.16% 2.76% 2.51% 2.34% 2.81% 2.96% 2.62% 2.82% 2.69% 3.44%
Earnings Yield
7.69% 6.86% 4.29% 4.48% 0.71% 0.14% 1.84% 1.12% 5.10% 5.50% 7.50%
Enterprise Value to Invested Capital (EV/IC)
3.34 3.82 4.40 4.64 4.99 4.37 4.05 4.40 4.04 4.36 3.44
Enterprise Value to Revenue (EV/Rev)
3.94 4.25 4.85 5.32 5.75 4.90 4.64 5.28 4.74 4.73 3.76
Enterprise Value to EBITDA (EV/EBITDA)
10.16 11.15 17.02 17.19 45.42 51.10 24.46 33.64 14.44 13.79 10.72
Enterprise Value to EBIT (EV/EBIT)
12.48 13.67 22.31 21.80 90.34 155.84 36.94 56.92 18.02 17.07 13.17
Enterprise Value to NOPAT (EV/NOPAT)
14.45 15.92 25.31 23.84 139.96 626.34 57.15 88.55 19.89 17.70 13.47
Enterprise Value to Operating Cash Flow (EV/OCF)
12.06 12.69 16.76 19.92 23.93 22.63 16.01 20.43 17.51 14.70 11.22
Enterprise Value to Free Cash Flow (EV/FCFF)
19.82 20.92 29.02 27.31 0.00 0.00 205.61 0.00 24.52 17.45 40.34
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.72 0.80 0.86 0.87 0.85 0.93 0.84 0.95 0.66 0.67 0.68
Long-Term Debt to Equity
0.69 0.74 0.79 0.80 0.77 0.90 0.82 0.88 0.60 0.62 0.64
Financial Leverage
0.65 0.65 0.60 0.72 0.59 0.57 0.54 0.66 0.52 0.53 0.47
Leverage Ratio
2.49 2.66 2.61 2.64 2.45 2.58 2.49 2.58 2.44 2.55 2.50
Compound Leverage Factor
2.49 2.66 2.61 2.64 2.45 2.58 2.49 2.58 2.44 2.55 2.50
Debt to Total Capital
41.86% 44.45% 46.11% 46.40% 45.84% 48.23% 45.77% 48.79% 39.60% 39.99% 40.59%
Short-Term Debt to Total Capital
1.63% 3.17% 3.81% 3.77% 4.12% 1.89% 1.16% 3.75% 3.44% 2.54% 2.58%
Long-Term Debt to Total Capital
40.22% 41.28% 42.30% 42.63% 41.72% 46.34% 44.61% 45.04% 36.15% 37.45% 38.01%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.08% 0.07% 0.07% 0.08% 0.08% 0.07% 0.07% 0.06% 0.09% 0.09% 0.09%
Common Equity to Total Capital
58.06% 55.48% 53.82% 53.52% 54.08% 51.70% 54.16% 51.15% 60.31% 59.92% 59.32%
Debt to EBITDA
1.41 1.52 2.12 1.95 4.40 6.08 3.10 4.03 1.62 1.51 1.47
Net Debt to EBITDA
1.01 0.94 1.28 1.35 3.64 4.81 2.20 3.20 1.00 0.81 0.88
Long-Term Debt to EBITDA
1.35 1.41 1.95 1.79 4.01 5.85 3.02 3.72 1.48 1.41 1.38
Debt to NOPAT
2.00 2.17 3.15 2.71 13.56 74.58 7.24 10.61 2.23 1.94 1.85
Net Debt to NOPAT
1.43 1.34 1.90 1.87 11.22 58.96 5.15 8.43 1.38 1.04 1.10
Long-Term Debt to NOPAT
1.92 2.01 2.89 2.49 12.34 71.67 7.06 9.79 2.03 1.81 1.73
Altman Z-Score
3.67 3.64 3.82 4.27 4.56 3.60 3.87 3.74 4.08 4.07 3.51
Noncontrolling Interest Sharing Ratio
0.14% 0.13% 0.13% 0.14% 0.15% 0.14% 0.14% 0.15% 0.16% 0.17% 0.17%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
1.41 1.36 1.36 1.47 1.25 1.25 1.38 1.28 1.44 1.47 1.46
Quick Ratio
0.80 0.84 0.88 0.88 0.68 0.68 0.83 0.74 0.90 0.93 0.90
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
330 -225 1,488 3,731 1,868 -4,281 1,380 -7,169 287 3,188 -7,326
Operating Cash Flow to CapEx
188.25% 368.20% 1,186.59% 712.64% 358.89% 24.87% 855.54% 383.83% 132.97% 385.55% 497.51%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.58 0.57 0.56 0.58 0.57 0.56 0.55 0.55 0.54 0.55 0.59
Accounts Receivable Turnover
5.77 6.22 5.80 5.51 5.64 6.07 5.97 5.64 5.72 6.35 6.53
Inventory Turnover
2.37 2.44 2.47 2.49 2.54 2.63 2.74 2.75 2.74 2.94 3.10
Fixed Asset Turnover
2.67 2.74 2.75 2.75 2.74 2.70 2.76 2.76 2.79 2.91 3.03
Accounts Payable Turnover
4.13 3.80 4.31 4.44 4.38 3.94 4.68 4.55 4.32 3.92 5.17
Days Sales Outstanding (DSO)
63.26 58.67 62.90 66.22 64.74 60.11 61.16 64.70 63.84 57.51 55.87
Days Inventory Outstanding (DIO)
153.85 149.76 147.83 146.36 143.46 138.85 133.18 132.72 133.09 124.36 117.63
Days Payable Outstanding (DPO)
88.37 96.11 84.76 82.17 83.41 92.64 78.01 80.15 84.58 93.01 70.65
Cash Conversion Cycle (CCC)
128.74 112.31 125.98 130.41 124.79 106.31 116.32 117.27 112.36 88.86 102.85
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
75,477 71,415 69,505 71,706 70,752 67,330 67,957 69,938 67,881 64,426 64,481
Invested Capital Turnover
0.87 0.93 0.92 0.88 0.89 0.91 0.90 0.86 0.87 0.92 1.00
Increase / (Decrease) in Invested Capital
4,725 4,085 1,548 1,768 2,871 2,904 3,476 3,555 2,607 -235 10,968
Enterprise Value (EV)
251,802 272,511 306,142 332,500 353,120 294,380 275,140 308,011 274,461 280,644 221,724
Market Capitalization
226,737 249,493 283,121 306,357 324,740 266,616 250,306 278,643 255,321 264,093 203,472
Book Value per Share
$19.13 $18.31 $17.56 $17.21 $15.94 $14.83 $16.25 $15.25 $18.45 $18.14 $17.55
Tangible Book Value per Share
$4.31 $3.27 $2.29 $2.15 $0.64 ($0.64) $0.34 ($0.85) $2.27 $1.78 $0.76
Total Capital
83,244 83,483 82,691 81,436 74,643 72,690 76,159 75,653 77,651 76,749 74,942
Total Debt
34,844 37,111 38,131 37,788 34,219 35,055 34,859 36,911 30,746 30,691 30,418
Total Long-Term Debt
33,484 34,462 34,982 34,717 31,142 33,683 33,972 34,072 28,074 28,745 28,482
Net Debt
25,000 22,959 22,963 26,077 28,320 27,710 24,780 29,319 19,069 16,484 18,186
Capital Expenditures (CapEx)
1,328 937 783 791 861 989 902 965 1,007 1,149 1,126
Debt-free, Cash-free Net Working Capital (DFCFNWC)
2,461 -678 -669 3,862 3,804 753 974 3,044 2,556 237 1,251
Debt-free Net Working Capital (DFNWC)
11,689 13,011 13,924 15,216 9,423 7,846 9,747 9,422 12,943 13,429 12,499
Net Working Capital (NWC)
10,329 10,362 10,775 12,145 6,346 6,474 8,860 6,583 10,271 11,483 10,563
Net Nonoperating Expense (NNE)
-30 116 -125 38 -28 -151 106 2,358 69 -64 389
Net Nonoperating Obligations (NNO)
27,077 25,043 24,945 28,058 30,328 29,695 26,657 31,196 20,976 18,368 19,957
Total Depreciation and Amortization (D&A)
1,099 1,197 1,186 1,132 984 964 1,014 903 991 892 959
Debt-free, Cash-free Net Working Capital to Revenue
3.85% -1.06% -1.06% 6.18% 6.20% 1.25% 1.64% 5.22% 4.42% 0.40% 2.12%
Debt-free Net Working Capital to Revenue
18.29% 20.28% 22.04% 24.35% 15.35% 13.05% 16.43% 16.16% 22.37% 22.65% 21.19%
Net Working Capital to Revenue
16.16% 16.15% 17.06% 19.44% 10.34% 10.77% 14.94% 11.29% 17.75% 19.37% 17.91%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$2.01 $1.48 $1.25 $2.15 $1.88 ($0.49) $1.87 ($2.35) $1.11 $1.19 $1.28
Adjusted Weighted Average Basic Shares Outstanding
2.51B 2.53B 2.53B 2.53B 2.53B 2.53B 2.53B 2.54B 2.54B 2.54B 2.54B
Adjusted Diluted Earnings per Share
$2.01 $1.49 $1.24 $2.14 $1.87 ($0.48) $1.86 ($2.35) $1.11 $1.18 $1.28
Adjusted Weighted Average Diluted Shares Outstanding
2.51B 2.53B 2.53B 2.53B 2.53B 2.53B 2.53B 2.54B 2.54B 2.54B 2.54B
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
2.51B 2.53B 2.53B 2.53B 2.53B 2.53B 2.53B 2.54B 2.54B 2.54B 2.54B
Normalized Net Operating Profit after Tax (NOPAT)
5,114 3,905 3,079 5,572 4,843 -1,198 4,963 -3,508 2,946 2,995 3,728
Normalized NOPAT Margin
32.93% 24.99% 18.49% 34.58% 30.70% -8.19% 31.09% -23.33% 20.33% 21.65% 24.92%
Pre Tax Income Margin
38.01% 26.69% 24.55% 37.28% 35.94% -13.98% 35.21% -35.48% 25.20% 25.40% 23.95%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
45.50% 45.76% 63.64% 55.58% 325.23% 1,974.80% 158.94% 231.67% 54.58% 48.27% 45.23%
Augmented Payout Ratio
58.95% 53.38% 73.59% 64.54% 382.10% 2,331.83% 179.57% 247.26% 55.73% 48.27% 45.35%

Frequently Asked Questions About Merck & Co., Inc.'s Financials

When does Merck & Co., Inc.'s fiscal year end?

According to the most recent income statement we have on file, Merck & Co., Inc.'s financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Merck & Co., Inc.'s net income changed over the last 9 years?

Merck & Co., Inc.'s net income appears to be on an upward trend, with a most recent value of $17.13 billion in 2024, rising from $4.46 billion in 2015. The previous period was $377 million in 2023. See Merck & Co., Inc.'s forecast for analyst expectations on what’s next for the company.

What is Merck & Co., Inc.'s operating income?
Merck & Co., Inc.'s total operating income in 2024 was $19.91 billion, based on the following breakdown:
  • Total Gross Profit: $48.98 billion
  • Total Operating Expenses: $29.06 billion
How has Merck & Co., Inc. revenue changed over the last 9 years?

Over the last 9 years, Merck & Co., Inc.'s total revenue changed from $39.50 billion in 2015 to $64.17 billion in 2024, a change of 62.5%.

How much debt does Merck & Co., Inc. have?

Merck & Co., Inc.'s total liabilities were at $70.73 billion at the end of 2024, a 2.5% increase from 2023, and a 24.3% increase since 2015.

How much cash does Merck & Co., Inc. have?

In the past 9 years, Merck & Co., Inc.'s cash and equivalents has ranged from $6.09 billion in 2017 to $13.24 billion in 2024, and is currently $13.24 billion as of their latest financial filing in 2024.

How has Merck & Co., Inc.'s book value per share changed over the last 9 years?

Over the last 9 years, Merck & Co., Inc.'s book value per share changed from 15.99 in 2015 to 18.31 in 2024, a change of 14.5%.



This page (NYSE:MRK) was last updated on 5/29/2025 by MarketBeat.com Staff
From Our Partners