Sunday 25 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.

145.27 1.97 −1.34%

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Market cap: $363.3B
P/E: 116×
Fwd P/E: 106×
Dividend yield: 2.35%
F-score: 4/9
Altman Z: 3.77
Beneish M: −2.27
Dividend safety: 74/100

Overview Business Profile Earnings & Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Segments Filings 10-Q 10-K

Merck & Co., Inc. (MRK) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Pharmaceutical	58,142	89.43%
Animal Health	6,354	9.77%
Other, not broken out	515	0.79%
Gross margin		74.80%
Operating margin		34.01%
Pre-tax margin		32.41%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Pharmaceutical	58,142 89.43%	57,400 89.45%	53,583 89.13%	52,005 87.72%	42,754 87.78%	36,610 88.18%	34,100 87.17%	37,689 89.11%	35,390 88.21%	35,151 88.30%
Animal Health	6,354 9.77%	5,877 9.16%	5,625 9.36%	5,550 9.36%	5,568 11.43%	4,703 11.33%	4,393 11.23%	4,212 9.96%	3,875 9.66%	3,478 8.74%
Other Segments	—	—	—	—	—	23 0.06%	175 0.45%	250 0.59%	397 0.99%	385 0.97%
Other, not broken out	515 0.79%	891 1.39%	907 1.51%	1,728 2.91%	382 0.78%	—	453 1.16%	—	460 1.15%	793 1.99%
Revenue	65,011	64,168	60,115	59,283	48,704	41,518	39,121	42,294	40,122	39,807

Revenue by region $m

Line	FY2021	FY2020	FY2019
U.S.	22,425 46.04%	19,588 47.18%	18,420 47.08%
Europe, Middle East and Africa	13,341 27.39%	11,547 27.81%	10,496 26.83%
China	4,378 8.99%	2,751 6.63%	2,180 5.57%
Japan	2,726 5.60%	2,602 6.27%	2,609 6.67%
Asia Pacific (other than China and Japan)	2,407 4.94%	2,113 5.09%	2,126 5.43%
Latin America	2,206 4.53%	1,890 4.55%	2,015 5.15%
Other	1,221 2.51%	1,027 2.47%	1,275 3.26%
Non-US	26,279	21,930	20,701
Revenue	48,704	41,518	39,121

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.