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Merck & Co., Inc.

MRK Healthcare Drug Manufacturers General

Merck & Co., Inc.’s revenue for fiscal 2025 (year ended December 2025) was $65.0 billion, up 1.31% from fiscal 2024.

Revenue: +4.68%
EPS: −130.7%
Free cash flow: +77.0%
Total debt: +50.4%

Quarter to September 2026, against a year earlier

147.13 0.19 +0.13%

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Market cap: $362.5B
P/E: 118×
Fwd P/E: 109×
Dividend yield: 2.31%
F-score: 4/9
Altman Z: 3.77
Beneish M: −2.27
Dividend safety: 74/100

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Merck & Co., Inc. (MRK) Debt to equity

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Merck & Co., Inc.'s debt to equity at the end of the quarter to 30 June 2026 was 1.2×, up 0.3× from fiscal 2025 (0.9×). Over the past ten years it has ranged from 0.5× (fiscal 2015) to 1.0× (fiscal 2020); the current reading is higher than 82% of that period. That is above the Drug Manufacturers General industry median of 0.6× and above the Healthcare sector median of 0.0×.

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<iframe src="https://stockrow.com/embed/MRK/debt-to-equity" width="100%" height="360" style="border:0" loading="lazy" title="Merck &amp; Co., Inc. debt to equity, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/MRK/metrics/debt-to-equity">Merck &amp; Co., Inc. (MRK) debt to equity — stockrow.com</a></p>

Period	Debt to equity	Change
FY2025	0.9×	19.44%
FY2024	0.7×	(16.96%)
FY2023	0.9×	43.41%
FY2022	0.6×	(22.20%)
FY2021	0.8×	(19.64%)
FY2020	1.0×	14.17%
FY2019	0.9×	18.68%
FY2018	0.7×	19.28%
FY2017	0.6×	2.57%
FY2016	0.6×	13.13%

Period	Debt to equity	Change
Jun 2026	1.2×	19.73%
Mar 2026	1.0×	14.48%
Dec 2025	0.9×	15.29%
Sep 2025	0.8×	11.21%
42 more quarters	Free account

Against its own ten years

Low 0.5× High 1.0×

Ten-year median 0.7×

Current reading's percentile 82

Company	Debt to equity
ABBV AbbVie Inc. compare	−17.8×
JNJ Johnson & Johnson compare	0.4×
AZN AstraZeneca PLC compare	0.6×
NVO Novo Nordisk A/S compare	0.6×
PFE Pfizer Inc. compare	0.7×
MRK Merck & Co., Inc.	1.2×
NVS Novartis AG compare	1.2×
GILD Gilead Sciences, Inc. compare	2.0×
AMGN Amgen Inc. compare	3.8×
Drug Manufacturers General industry median	0.6×
Healthcare sector median	0.0×
Market median	0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

Merck & Co., Inc. (MRK) Debt to equity

Debt to equity, annual

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Against its own ten years

Debt to equity against peers

What Debt to equity is

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Debt to equity, annual

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Against its own ten years

Debt to equity against peers

What Debt to equity is

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