stockrowMerck & 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
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Merck & Co., Inc. (MRK) Operating margin
Merck & Co., Inc.'s operating margin over the twelve months to 30 September 2026 was 9.20%, down 24.8 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 18.3% 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) |
|---|---|---|
| Sep 2026 | 31.9% | 34.51 |
| Jun 2026 | −2.61% | 17.04 |
| Mar 2026 | −19.7% | (44.43) |
| Dec 2025 | 24.8% | (13.16) |
| 43 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| NVO Novo Nordisk A/S compare | 43.4% |
| AMGN Amgen Inc. compare | 32.4% |
| ABBV AbbVie Inc. compare | 32.2% |
| NVS Novartis AG compare | 25.2% |
| AZN AstraZeneca PLC compare | 23.7% |
| PFE Pfizer Inc. compare | 21.4% |
| JNJ Johnson & Johnson compare | 19.7% |
| MRK Merck & Co., Inc. | 9.20% |
| GILD Gilead Sciences, Inc. compare | −7.63% |
| Drug Manufacturers General industry median | 18.3% |
| 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
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- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
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- The full statement