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Saturday 17 October 2026 Export MRK’s income statement to Excel — free account

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.

145.95 0.76 +0.52%
Market cap
$358.2B
P/E
117×
Fwd P/E
53.9×
Dividend yield
2.33%
F-score
4/9
Altman Z
3.77
Beneish M
−2.27
Dividend safety
74/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Merck & Co., Inc. (MRK) Operating margin

Alert me on Operating margin

Merck & Co., Inc.'s operating margin over the twelve months to 30 June 2026 was 10.5%, down 23.5 percentage points from fiscal 2025 (34.0%). Over the past ten years it has ranged from 4.91% (fiscal 2023) to 34.0% (fiscal 2025) — the current reading is the highest in ten years. That is below the Drug Manufacturers General industry median of 18.8% and above the Healthcare sector median of 0.00%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 34.0% 2.50
FY2024 31.5% 26.60
FY2023 4.91% (25.93)
FY2022 30.8% 3.74
FY2021 27.1% 13.74
FY2020 13.4% (6.90)
FY2019 20.3% (0.86)
FY2018 21.1% 4.18
FY2017 16.9% 3.13
FY2016 13.8% (5.30)

Quarterly newest first

Period Operating margin Change (points)
Jun 2026 −2.61% 17.04
Mar 2026 −19.7% (44.43)
Dec 2025 24.8% (13.16)
Sep 2025 37.9% 2.81
42 more quarters

Against its own ten years

Low 4.91% High 34.0%
Ten-year median 20.3%
Current reading's percentile 12

Operating margin against peers

Company Operating margin
NVO Novo Nordisk A/S compare 43.4%
NVS Novartis AG compare 30.2%
AMGN Amgen Inc. compare 30.0%
ABBV AbbVie Inc. compare 26.2%
AZN AstraZeneca PLC compare 22.8%
PFE Pfizer Inc. compare 21.7%
JNJ Johnson & Johnson compare 19.3%
MRK Merck & Co., Inc. 10.5%
GILD Gilead Sciences, Inc. compare −8.20%
Drug Manufacturers General industry median 18.8%
Healthcare sector median 0.00%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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