
Merck & Co., Inc.
NYSE•MRK
CEO: Mr. Robert M. Davis J.D.
Sector: Healthcare
Industry: Drug Manufacturers - General
Listing Date: 1978-01-13
Merck & Co., Inc. operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes under the Keytruda, Bridion, Adempas, Lagevrio, Belsomra, Simponi, and Januvia brands, as well as vaccine products consisting of preventive pediatric, adolescent, and adult vaccines under the Gardasil/Gardasil 9, ProQuad, M-M-R II, Varivax, RotaTeq, Live Oral, Vaxneuvance, Pneumovax 23, and Vaqta names. The Animal Health segment discovers, develops, manufactures, and markets veterinary pharmaceuticals, vaccines, and health management solutions and services, as well as digitally connected identification, traceability, and monitoring products. vIt has development and commercialization agreement for three of Daiichi Sankyo's deruxtecan ADC candidates, which include patritumab deruxtecan, ifinatamab deruxtecan, and raludotatug deruxtecan for the treatment of multiple solid tumors both as monotherapy and/or in combination with other treatments; and AstraZeneca PLC to co-development and co-commercialize AstraZeneca's Lynparza products for multiple cancer types, and Koselugo for multiple indications. It also has licensed to develop, manufacture and commercialize LM-299, a novel investigational PD-1/VEGF bispecific antibody from LaNova. The company also has a collaboration agreement with Eisai Co., Ltd., Bayer AG, and Ridgeback Biotherapeutics LP, as well Moderna, Inc. Merck & Co., Inc. was founded in 1891 and is headquartered in Rahway, New Jersey.
Contact Information
Market Cap
$271.83B
P/E (TTM)
14.3
46.4
Dividend Yield
3.0%
52W High
$112.90
52W Low
$73.31
52W Range
Rank17Top 4.2%
6.4
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6.4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025
Financial Dashboard
Q3 2025 Data
Revenue
$17.28B+3.72%
4-Quarter Trend
EPS
$2.32+85.60%
4-Quarter Trend
FCF
$6.84B-19.66%
4-Quarter Trend
2025 Q3 Earnings Highlights
Key Highlights
Total Sales Increased 4% Total Sales for Q3 2025 reached $17.28B, a 4% increase; US sales grew 15%, offsetting an 8% decline internationally.
Net Income Significantly Higher Net Income Attributable to Merck for Q3 2025 was $5.79B, a substantial increase from $3.16B reported in Q3 2024.
Keytruda Sales Growth Continues Keytruda oncology sales grew 10% to $8.14B in the quarter, driven by demand across multiple metastatic indications.
New Cardiovascular Launch Winrevair cardiovascular sales reached $360M in Q3 2025, showing strong uptake compared to $149M in the prior year.
Risk Factors
Vaccines Sales Decline Gardasil/Gardasil 9 sales declined 24% in Q3, primarily due to lower demand and inventory adjustments observed in China.
Restructuring Program Costs The newly approved 2025 Restructuring Program is estimated to incur cumulative pretax costs of approximately $3.0B.
Dificid Market Exclusivity Loss Dificid sales dropped 55% in Q3 following U.S. market exclusivity loss in July 2025, expecting continued decline.
Tax Audit Uncertainty IRS is contesting transition tax adjustments, potentially leading to material financial statement impact if the defense fails.
Outlook
Pipeline Regulatory Progress Keytruda subcutaneous (MK-3475A) expects final EC decision in Q4 2025; several other Phase 3 candidates advancing.
Major Acquisition Integration Completed $10.5B Verona Pharma acquisition in October 2025, integrating Ohtuvayre for COPD treatment.
Share Repurchase Activity Board authorized an additional $10B for treasury stock purchases; $3.8B was executed in the first nine months of 2025.
Pricing Pressure Expected Anticipates continued negative sales impact from global government pricing actions, including IRA mandates starting 2026.
Peer Comparison
Revenue (TTM)
MRK$64.24B
PFE$62.79B
AZN$58.13B
Gross Margin (Latest Quarter)
MRK81.9%
AZN81.2%
GILD79.8%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| AZN | $292.66B | 30.9 | 22.1% | 28.5% |
| NVO | $277.06B | 16.7 | 67.0% | 19.8% |
| NVS | $276.96B | 19.5 | 34.1% | 29.8% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
3.4%
Moderate Growth
4Q Net Income CAGR
15.6%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow
Research & Insights
Next earnings:Apr 30, 2026
EPS:-
|Revenue:-
Reports
All Years
Form 10-Q - Q3 2025
Period End: Sep 30, 2025|Filed: Nov 5, 2025|Revenue: $17.28B+3.7%|EPS: $2.32+85.6%MeetForm 10-Q - Q2 2025
Period End: Jun 30, 2025|Filed: Aug 5, 2025|Revenue: $15.81B-1.9%|EPS: $1.77-17.7%MissForm 10-Q - Q1 2025
Period End: Mar 31, 2025|Filed: May 2, 2025|Revenue: $15.53B-1.6%|EPS: $2.02+7.4%MissForm 10-K - FY 2024
Period End: Dec 31, 2024|Filed: Feb 25, 2025|Revenue: $64.17B+6.7%|EPS: $6.76+4728.6%BeatForm 10-Q - Q3 2024
Period End: Sep 30, 2024|Filed: Nov 6, 2024|Revenue: $16.66B+4.4%|EPS: $1.25-33.2%MissForm 10-Q - Q2 2024
Period End: Jun 30, 2024|Filed: Aug 5, 2024|Revenue: $16.11B+7.2%|EPS: $2.15-191.5%MeetForm 10-Q - Q1 2024
Period End: Mar 31, 2024|Filed: May 3, 2024|Revenue: $15.78B+8.9%|EPS: $1.88+69.4%MeetForm 10-K/A - FY 2023
Period End: Dec 31, 2023|Filed: Apr 11, 2024|Revenue: $60.12B+1.4%|EPS: $0.14-97.6%Beat