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Merck (MRK)

Market Price (10/16/2025): $84.15 | Market Cap: $211.2 Bil
Sector: Health Care | Industry: Pharmaceuticals

Merck (MRK)

Market Price (10/16/2025): $84.15
Market Cap: $211.2 Bil
Sector: Health Care
Industry: Pharmaceuticals

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 3.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.1%, FCF Yield is 7.0%		 Weak multi-year price returns
2Y Excs Rtn is -66%, 3Y Excs Rtn is -83%		 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -1.9%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 31%		  
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 23%, CFO LTM is 19 Bil, FCF LTM is 15 Bil		  
3 Low stock price volatility
Vol 12M is 29%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 3.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.1%, FCF Yield is 7.0%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 31%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 23%, CFO LTM is 19 Bil, FCF LTM is 15 Bil
3 Low stock price volatility
Vol 12M is 29%
4 Weak multi-year price returns
2Y Excs Rtn is -66%, 3Y Excs Rtn is -83%
5 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -1.9%

Market Valuation & Key Metrics

MRKS&P 500
REVENUE GROWTH 
Rev LTM ($ Bil)63.6
Rev Chg Q-1.9%6.2%
Rev Chg LTM1.8%5.2%
Rev Chg 3Y Avg3.7%5.4%
PROFITABILITYVERY GOOD
Op Inc LTM ($ Bil)19.8
Op Mgn LTM31.2%18.6%
CFO LTM ($ Bil)18.5
CFO/Rev LTM29.1%20.3%
Net Inc LTM ($ Bil)16.4
Net Inc Mgn25.8%12.7%
VALUATIONLOW
P/S3.33.3
P/CFO11.415.9
P/FCF14.420.8
P/E12.924.0
STABILITYGOOD
Debt/Equity0.170.21
Cash/Assets0.070.07

MRK Stock

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
MRK Return-7%2%49%1%-6%-13%19%
Peers Return10%27%3%-16%6%15%48%
S&P 500 Return16%27%-19%24%23%13%103%

Monthly Win Rates [3]
MRK Win Rate58%42%67%42%33%33% 
Peers Win Rate48%65%53%38%50%60% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
MRK Max Drawdown-26%-12%-4%-8%-10%-26% 
Peers Max Drawdown-23%-7%-12%-25%-10%-9% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: RHHBY, JNJ, ABBV, PFE, BMY. See MRK Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/15/2025 (YTD)

Downturns Compared

Unique KeyEventMRKS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-20.2%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven25.3%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven156 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-27.9%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven38.6%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven784 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-18.2%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven22.3%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven259 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-65.5%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven189.5%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven2006 days1480 days


How Low Can It Go?

Merck's stock fell -20.2% during the 2022 Inflation Shock from a high on 11/4/2021. A -20.2% loss requires a 25.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Interactive Breakdown

Merck Interactive Breakdown Analysis

Better Bets than Merck (MRK)

 MRKBetter Performance than MRK
MetricValueIndustry (Pharmaceuticals)
Rev Chg LTM1.8%LLY (36.8%), JNJ (4.7%), PFE (13.5%), BMY (4.6%), ZTS (5.3%)
Rev Chg 3Y Avg3.7%LLY (23.4%), JNJ (4.0%), ZTS (5.5%), JAZZ (5.5%), CORT (22.7%)
Op Mgn LTM31.2%LLY (43.0%), ZTS (37.5%), INVA (47.7%), SIGA (56.3%)
CFO/Rev LTM29.1%BMY (30.0%), ZTS (31.2%), JAZZ (32.2%), ALKS (34.6%), INVA (54.2%)
FCF/Rev LTM23.1%BMY (27.5%), ZTS (23.6%), JAZZ (30.3%), CORT (25.2%), ALKS (31.9%)
Total Yield11.6%PFE (13.0%), BMY (11.7%), OGN (37.4%), AMPH (12.4%), SIGA (13.7%)
 MRKBetter Performance than MRK
MetricValueAll Other Sectors
Rev Chg LTM1.8%NVDA (71.6%), MSFT (14.9%), AAPL (6.0%), GOOGL (13.1%), AMZN (10.9%)
Rev Chg 3Y Avg3.7%NVDA (92.0%), MSFT (12.5%), GOOGL (10.2%), AMZN (11.3%), META (13.0%)
Op Mgn LTM31.2%NVDA (58.1%), MSFT (45.6%), AAPL (31.9%), GOOGL (32.7%), META (42.9%)
CFO/Rev LTM29.1%NVDA (46.6%), MSFT (48.3%), GOOGL (36.0%), META (56.4%), AVGO (42.4%)
FCF/Rev LTM23.1%NVDA (43.6%), MSFT (25.4%), AAPL (23.5%), META (30.7%), AVGO (41.6%)
Total Yield11.6%BABA (38.0%), TM (2152.5%), VZ (17.3%), TD (15.1%), CMCSA (18.4%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Merck Earnings Notes  
2Dominance at a Discount: Does MRK's Valuation Pullback Offer Invesment Opportunity?Actionable 
3Time To Buy Merck Stock?Buy or Fear 
4MRK Delivers $91 Bil to Shareholders Over the Last 10 Years  
5MRK's 6.8% One Day Pop Begs The Question: Is INVA Better Instead?Counter-Intuitive Comparisons 
6Day 6 of Gains Streak for Merck Stock with 6.1% Return (vs. -13% YTD) [8/19/2025]Notification 
7Day 5 of Gains Streak for Merck Stock with 5.2% Return (vs. -14% YTD) [8/18/2025]Notification 
8Merck vs United Therapeutics: Which Is A Better Investment?Counter-Intuitive Comparisons 
9Merck vs Innoviva: Which Is A Better Investment?Counter-Intuitive Comparisons 
10MRK Near Crucial Support Level - Buy Signal AheadActionable 
11ARTICLES  
12High Margins, Lower Price: Is This Merck stock’s Buying Window? October 10th, 2025
13MRK Up 7.4% in One Day, Should You Buy The Stock? October 2nd, 2025
14MRK Capital Return Hits $91 Bil in 10 Years October 2nd, 2025
15After MRK’s 6.8% Climb in a Day, INVA Looks Like the Stronger Long-Term Play October 1st, 2025
16S&P 500 Movers | Winners: PFE, MRK, DHR | Losers: ALB, MGM, COF October 1st, 2025
Title
0DASHBOARDS
1High Margins, Lower Price: Is This Merck stock’s Buying Window?
2MRK Up 7.4% in One Day, Should You Buy The Stock?
3MRK Capital Return Hits $91 Bil in 10 Years
4After MRK’s 6.8% Climb in a Day, INVA Looks Like the Stronger Long-Term Play
5S&P 500 Movers | Winners: PFE, MRK, DHR | Losers: ALB, MGM, COF
6ARTICLES
7Merck Earnings Notes
8Dominance at a Discount: Does MRK's Valuation Pullback Offer Invesment Opportunity?
9Time To Buy Merck Stock?
10MRK Delivers $91 Bil to Shareholders Over the Last 10 Years
11MRK's 6.8% One Day Pop Begs The Question: Is INVA Better Instead?
12Day 6 of Gains Streak for Merck Stock with 6.1% Return (vs. -13% YTD) [8/19/2025]
13Day 5 of Gains Streak for Merck Stock with 5.2% Return (vs. -14% YTD) [8/18/2025]
14Merck vs United Therapeutics: Which Is A Better Investment?
15Merck vs Innoviva: Which Is A Better Investment?
16MRK Near Crucial Support Level - Buy Signal Ahead

Trade Ideas

Select past ideas related to MRK. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADMA_9302025_Dip_Buyer_ValueBuy09302025ADMAADMA BiologicsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		2.9%2.9%-4.6%
REGN_9302025_Dip_Buyer_ValueBuy09302025REGNRegeneron PharmaceuticalsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		2.5%2.5%-0.8%
HAE_9262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG09262025HAEHaemoneticsDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap		0.9%0.9%-0.1%
WAT_9192025_Monopoly_xInd_xCD_Getting_Cheaper09192025WATWatersMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		10.5%10.5%-4.3%
ISRG_9052025_Monopoly_xInd_xCD_Getting_Cheaper09052025ISRGIntuitive SurgicalMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-6.7%-6.7%-8.0%
MRK_7312025_Monopoly_xInd_xCD_Getting_Cheaper07312025MRKMerckMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		8.7%8.7%0.0%
MRK_1312025_Monopoly_xInd_xCD_Getting_Cheaper01312025MRKMerckMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-18.3%-12.4%-25.0%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADMA_9302025_Dip_Buyer_ValueBuy09302025ADMAADMA BiologicsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		2.9%2.9%-4.6%
REGN_9302025_Dip_Buyer_ValueBuy09302025REGNRegeneron PharmaceuticalsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		2.5%2.5%-0.8%
HAE_9262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG09262025HAEHaemoneticsDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap		0.9%0.9%-0.1%
WAT_9192025_Monopoly_xInd_xCD_Getting_Cheaper09192025WATWatersMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		10.5%10.5%-4.3%
ISRG_9052025_Monopoly_xInd_xCD_Getting_Cheaper09052025ISRGIntuitive SurgicalMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-6.7%-6.7%-8.0%
MRK_7312025_Monopoly_xInd_xCD_Getting_Cheaper07312025MRKMerckMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		8.7%8.7%0.0%
MRK_1312025_Monopoly_xInd_xCD_Getting_Cheaper01312025MRKMerckMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-18.3%-12.4%-25.0%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1NVTSNavitas Semiconductor95.9%324.6%
2BITFBitfarms61.7%334.2%
3UAMYUnited States Antimony44.5%677.4%
4GLUEMonte Rosa Therapeutics44.1%60.1%
5FLNCFluence Energy43.3%35.0%
6SMRNuScale Power39.9%198.0%
7UUUUEnergy Fuels38.8%387.1%
8ASPIASP Isotopes38.5%178.6%
9MVSTMicrovast38.3%201.9%
10TNGXTango Therapeutics37.8%208.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1BNTBrookfield Wealth Solutions-33.6%18.5%
2BNBrookfield-33.4%18.9%
3VGVenture Global-29.9% 
4SOCSable Offshore-29.1%-38.3%
5HELEHelen Of Troy-28.5%-67.0%
6ALABAstera Labs-26.4%21.9%
7AIVApartment Investment & Management-26.1%-33.8%
8BBBYBed Bath & Beyond-25.7% 
9USNAUsana Health Sciences-22.6%-42.9%
10FWRDForward Air-18.0%-38.0%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1WOLFWolfspeed1213.0%386.9%
2QUREuniQure334.2%255.8%
3LACLithium Americas193.2%217.8%
4FLNCFluence Energy185.9%35.0%
5RGTIRigetti Computing181.7%269.2%
6SESSES AI176.6%61.6%
7UAMYUnited States Antimony158.6%677.4%
8NVTSNavitas Semiconductor157.4%324.6%
9ASTSAST SpaceMobile136.7%353.5%
10QBTSD-Wave Quantum135.9%433.1%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1ANGXAngel Studios-46.4% 
2SOCSable Offshore-37.0%-38.3%
3VGVenture Global-35.1% 
4USNAUsana Health Sciences-32.9%-42.9%
5FLYFirefly Aerospace-32.5% 
6ALABAstera Labs-32.4%21.9%
7FWRDForward Air-31.7%-38.0%
8LDIloanDepot-29.5%53.4%
9AIVApartment Investment & Management-28.4%-33.8%
10PGYPagaya Technologies-28.1%222.0%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1NVTSNavitas Semiconductor95.9%324.6%
2BITFBitfarms61.7%334.2%
3UAMYUnited States Antimony44.5%677.4%
4GLUEMonte Rosa Therapeutics44.1%60.1%
5FLNCFluence Energy43.3%35.0%
6SMRNuScale Power39.9%198.0%
7UUUUEnergy Fuels38.8%387.1%
8ASPIASP Isotopes38.5%178.6%
9MVSTMicrovast38.3%201.9%
10TNGXTango Therapeutics37.8%208.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1BNTBrookfield Wealth Solutions-33.6%18.5%
2BNBrookfield-33.4%18.9%
3VGVenture Global-29.9% 
4SOCSable Offshore-29.1%-38.3%
5HELEHelen Of Troy-28.5%-67.0%
6ALABAstera Labs-26.4%21.9%
7AIVApartment Investment & Management-26.1%-33.8%
8BBBYBed Bath & Beyond-25.7% 
9USNAUsana Health Sciences-22.6%-42.9%
10FWRDForward Air-18.0%-38.0%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Merck

Financials

MRKRHHBYJNJABBVPFEBMYMedian
NameMerck Roche Johnson .AbbVie Pfizer Bristol-. 
Mkt Price84.1144.48191.17226.2224.3943.6164.30
Mkt Cap211.1-460.0400.0138.788.6211.1
Rev LTM63,616-90,62758,32863,83347,63663,616
Op Inc LTM19,821-22,22813,69516,6637,87016,663
FCF LTM14,722-16,39718,23912,43813,08614,722
FCF 3Y Avg12,899-16,92620,2739,30412,22512,899
CFO LTM18,534-23,02819,28315,18814,31018,534
CFO 3Y Avg16,766-22,24821,15412,58413,41916,766

Growth & Margins

MRKRHHBYJNJABBVPFEBMYMedian
NameMerck Roche Johnson .AbbVie Pfizer Bristol-. 
Rev Chg LTM1.8%-4.7%6.1%13.5%4.6%4.7%
Rev Chg 3Y Avg3.7%-4.0%0.6%-12.4%0.5%0.6%
Rev Chg Q-1.9%-5.8%6.6%10.3%-5.6%5.8%
QoQ Delta Rev Chg LTM-0.5%-1.5%1.7%2.2%-1.4%1.5%
Op Mgn LTM31.2%-24.5%23.5%26.1%16.5%24.5%
Op Mgn 3Y Avg22.6%-26.3%27.2%20.2%17.3%22.6%
QoQ Delta Op Mgn LTM-0.8%--0.2%1.0%1.8%4.3%1.0%
CFO/Rev LTM29.1%-25.4%33.1%23.8%30.0%29.1%
CFO/Rev 3Y Avg27.2%-25.7%37.5%18.8%28.9%27.2%
FCF/Rev LTM23.1%-18.1%31.3%19.5%27.5%23.1%
FCF/Rev 3Y Avg20.9%-19.6%36.0%13.8%26.4%20.9%

Valuation

MRKRHHBYJNJABBVPFEBMYMedian
NameMerck Roche Johnson .AbbVie Pfizer Bristol-. 
Mkt Cap211.1-460.0400.0138.788.6211.1
P/S3.3-5.16.92.21.93.3
P/EBIT10.3-16.367.910.410.910.9
P/E12.9-20.3106.312.916.316.3
P/CFO11.4-20.020.79.16.211.4
Total Yield11.6%-7.6%3.8%13.0%11.7%11.6%
Dividend Yield3.8%-2.6%2.8%5.2%5.5%3.8%
FCF Yield 3Y Avg5.1%-4.5%7.3%5.7%12.4%5.7%
D/E0.2-0.10.20.40.60.2
Net D/E0.1-0.10.20.30.40.2

Returns

MRKRHHBYJNJABBVPFEBMYMedian
NameMerck Roche Johnson .AbbVie Pfizer Bristol-. 
1M Rtn3.8%8.5%7.8%4.7%1.8%-4.6%4.3%
3M Rtn3.0%10.6%16.9%19.6%0.8%-6.3%6.8%
6M Rtn12.2%15.3%26.2%33.9%14.7%-9.3%15.0%
12M Rtn-21.8%16.8%20.3%22.0%-11.3%-13.2%2.7%
3Y Rtn-0.2%27.8%27.4%76.6%-32.9%-29.5%13.6%
1M Excs Rtn2.8%7.1%7.4%4.4%1.1%-5.6%3.6%
3M Excs Rtn-1.7%5.6%12.2%13.1%-5.0%-13.9%1.9%
6M Excs Rtn-14.2%-8.1%2.8%6.4%-10.9%-34.0%-9.5%
12M Excs Rtn-35.2%2.6%7.5%6.8%-25.2%-27.0%-11.3%
3Y Excs Rtn-83.0%-55.3%-54.1%-0.3%-115.8%-111.9%-69.1%

Comparison Analyses

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date8/5/20255/2/20252/25/202511/6/20248/5/20245/3/20242/26/202411/3/20238/7/20235/5/20232/24/202311/3/2022
Key Financials Quarterly            
Total Revenue15,80615,52915,62416,65716,11215,77514,63015,96215,03514,48713,83014,959
Ebitda6,4237,3155,6955,6067,4486,957-7726,951-4,1554,8834,6404,786
Operating Income5,5525,9374,3483,9846,1285,760-1,7135,872-5,0123,8063,4874,106
Net Income4,4275,0793,7433,1575,4554,762-1,2264,745-5,9752,8213,0173,248
EPS1.762.011.481.252.151.88-0.481.87-2.351.111.191.28
Key Financials TTM            
Total Revenue TTM63,61663,92264,16863,17462,47961,40260,11459,31458,31157,86959,28358,974
Ebitda TTM25,03926,06425,70619,23920,5848,9816,90712,31910,15419,97421,31521,628
Operating Income TTM19,82120,39720,22014,15916,0474,9072,9538,1536,38716,46618,28218,544
Net Income TTM16,40617,43417,11712,14813,7362,3063654,6083,11113,03014,51915,260
Growth Rates Quarterly            
Total Revenue Growth-1.9%-1.6%6.8%4.4%7.2%8.9%5.8%6.7%3.0%-8.9%2.3%13.7%
EBITDA Growth-13.8%5.1%837.7%-19.3%279.3%42.5%-116.6%45.2%-173.3%-21.5%-6.3%-23.1%
Operating Income Growth-9.4%3.1%353.8%-32.2%222.3%51.3%-149.1%43.0%-198.9%-32.3%-7.0%-16.6%
Net Income Growth-18.8%6.7%405.3%-33.5%191.3%68.8%-140.6%46.1%-251.5%-34.5%-19.7%-28.9%
Margins Quarterly            
EBITDA Margin40.6%47.1%36.5%33.7%46.2%44.1%-5.3%43.5%-27.6%33.7%33.6%32.0%
Operating Income Margin35.1%38.2%27.8%23.9%38.0%36.5%-11.7%36.8%-33.3%26.3%25.2%27.4%
Net Income Margin28.0%32.7%24.0%19.0%33.9%30.2%-8.4%29.7%-39.7%19.5%21.8%21.7%
Cash & Debt            
Total Cash8,6229,22813,68914,59311,3545,6197,0938,7736,37810,38713,19211,248
Total Debt35,40234,84437,11138,13137,78834,21935,05534,85936,91130,74630,69130,418
Net Debt / (Cash)26,78025,61623,42223,53826,43428,60027,96226,08630,53320,35917,49919,170
Cash Flows Quarterly            
FCF from Operations3,2932,5003,4509,2915,6373,0902467,7173,7041,3394,4305,602
Cash Flows TTM            
FCF from Operations TTM18,53420,87821,46818,26416,69014,75713,00617,19015,07515,67319,09519,696
Returns to Shareholders Quarterly            
Dividends2,0772,0501,9511,9531,9861,9501,8521,8551,8851,8531,7501,747
Share Repurchases1,3451,164489444251122393466338149-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC73.5%79.9%66.7%52.3%84.3%67.7%-14.7%76.1%-65.7%57.9%68.5%77.8%
Return on Invested Capital (ROIC) TTM            
ROIC TTM63.4%68.9%74.2%53.3%54.7%10.2%2.1%19.4%12.1%69.3%92.3%88.1%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Pharmaceutical53,58352,00542,75436,61041,751
Animal Health5,6255,5505,5684,7034,393
Other9071,728382182521
Other segment sales   23175
Total60,11559,28348,70441,51846,840


Price Behavior

MRK Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta0.490.000.370.590.370.30
Up Beta-0.630.340.100.430.420.38
Down Beta-2.41-1.26-0.890.680.470.36
Up Capture77%48%82%51%4%4%
Bmk +ve Days13233574144420
Stock +ve Days11253667122397
Down Capture142%-25%78%96%49%48%
Bmk -ve Days8192952107330
Stock -ve Days10172859128350

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date9302025
Short Interest: Shares Quantity25,174,694
Short Interest: % Change Since 9152025-9.2%
Average Daily Volume14,294,134
Days-to-Cover Short Interest1.76
Basic Shares Quantity2,510,000,000
Short % of Basic Shares1.0%

Returns Analyses

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/29/2025-1.7%-5.0%1.1%
4/24/20251.4%8.2%-1.1%
2/4/2025-9.1%-13.4%-6.6%
10/31/2024-2.4%-3.9%-3.0%
7/30/2024-9.8%-12.1%-8.8%
4/25/20242.9%1.4%3.2%
2/1/20244.6%5.5%5.1%
10/26/20231.9%-0.8%-1.7%
...
SUMMARY STATS   
# Positive9109
# Negative151415
Median Positive1.9%2.7%5.1%
Median Negative-2.4%-3.8%-2.9%
Max Positive6.1%8.8%9.2%
Max Negative-9.8%-13.4%-8.8%

SEC Filings

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Report DateFiling DateFiling
6302025805202510-Q 6/30/2025
3312025502202510-Q 3/31/2025
12312024225202510-K 12/31/2024
93020241106202410-Q 9/30/2024
6302024805202410-Q 6/30/2024
3312024503202410-Q 3/31/2024
12312023226202410-K 12/31/2023
93020231103202310-Q 9/30/2023
6302023807202310-Q 6/30/2023
3312023505202310-Q 3/31/2023
12312022224202310-K 12/31/2022
93020221103202210-Q 9/30/2022
6302022805202210-Q 6/30/2022
3312022505202210-Q 3/31/2022
12312021225202210-K 12/31/2021
93020211105202110-Q 9/30/2021

Insider Activity

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Industry Resources

External Quote Links


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