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. In the quarter to June 2026, revenue grew 5.07%, EPS fell 130.7%, free cash flow grew 77.0% and total debt rose 50.4%, each against the same quarter a year earlier. Member of the S&P 500 and Dow Jones; dividend growth for twenty-five consecutive years, revenue growth for five.
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Merck & Co., Inc. (MRK) Gross margin
Merck & Co., Inc.'s gross margin over the twelve months to 30 June 2026 was 73.0%, down 1.8 percentage points from fiscal 2025 (74.8%). Over the past ten years it has ranged from 62.2% (fiscal 2015) to 76.3% (fiscal 2024); the current reading is higher than 91% of that period. That is in line with the Drug Manufacturers General industry median of 72.8% and above the Healthcare sector median of 53.5%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 74.8% | (1.52) |
| FY2024 | 76.3% | 3.15 |
| FY2023 | 73.2% | 2.54 |
| FY2022 | 70.6% | (1.39) |
| FY2021 | 72.0% | 4.82 |
| FY2020 | 67.2% | (2.09) |
| FY2019 | 69.3% | 1.23 |
| FY2018 | 68.1% | 0.24 |
| FY2017 | 67.8% | 3.07 |
| FY2016 | 64.8% | 2.56 |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Jun 2026 | 73.5% | (0.70) |
| Mar 2026 | 74.2% | 8.09 |
| Dec 2025 | 66.2% | (11.54) |
| Sep 2025 | 77.7% | 0.19 |
| 42 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| AZN AstraZeneca PLC compare | 81.9% |
| NVO Novo Nordisk A/S compare | 80.7% |
| GILD Gilead Sciences, Inc. compare | 79.6% |
| NVS Novartis AG compare | 74.7% |
| PFE Pfizer Inc. compare | 73.2% |
| MRK Merck & Co., Inc. | 73.0% |
| ABBV AbbVie Inc. compare | 71.5% |
| AMGN Amgen Inc. compare | 69.5% |
| JNJ Johnson & Johnson compare | 67.6% |
| Drug Manufacturers General industry median | 72.8% |
| Healthcare sector median | 53.5% |
| Market median | 46.2% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
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