FY2025 · ended Dec 31, 2025 · Revenue $65.01B, +1.3% YoY · Filed Feb 24, 2026
Merck & Co., Inc. (MRK) files with the SEC under industry code 2834, Pharmaceutical Preparations. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $65.0 billion and net income of $18.3 billion. Free cash flow was $12.4 billion. As of Sep 30, 2026 it held $11.3 billion in cash and investments and $53.8 billion in total debt.
Revenue (TTM)
$67.38B
+4.9% vs year-ago TTM
Net income (TTM)
$2.45B
-87.1% vs year-ago TTM
Operating cash flow (TTM)
$18.70B
+9.6% vs year-ago TTM
Free cash flow (TTM)
$14.75B
+13.0% vs year-ago TTM
EPS (TTM)
$0.99
-86.9% vs year-ago TTM
Dividend per share (TTM)
$3.40
+4.9% vs year-ago TTM
Shares outstanding
2.47B
-2.1% vs prior year
Net cash
$-42.55B
as of Sep 30, 2026
Operating margin
—
Company profile
- Industry
- Pharmaceutical Preparations (SIC 2834)
- Listed as
- MRK (NYSE)
- Fiscal year ends
- December 31
- Incorporated in
- NJ
- Headquarters
- Rahway, NJ
- SEC filer status
- Large accelerated filer
- SEC CIK
- 310158
- Former names
- Merck & Co. Inc. (until Dec 9, 2014); SCHERING PLOUGH CORP (until Oct 29, 2009)
Other Pharmaceutical Preparations companies
- ELI LILLY & Co LLY
- Johnson & Johnson JNJ
- AbbVie Inc. ABBV
- Novartis AG NVS
- Astrazeneca PLC AZN
- Abbott Laboratories ABT
- Novo Nordisk A S NVO
- Pfizer Inc PFE
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $65.0B | $64.2B | $60.1B | $59.3B | $48.7B |
| Net income | $18.3B | $17.1B | $365.0M | $14.5B | $13.0B |
| Diluted EPS | $7.28 | $6.74 | $0.14 | $5.71 | $5.14 |
| Operating cash flow | $16.5B | $21.5B | — | — | — |
| Free cash flow | $12.4B | $18.1B | — | — | — |
| Total assets | $136.9B | $117.1B | $106.7B | $109.2B | $105.7B |
| Stockholders' equity | $52.6B | $46.3B | $37.6B | $46.0B | $38.2B |
| Cash and investments | $15.5B | $14.2B | $7.3B | $14.2B | $8.5B |
| Total debt | $50.5B | $38.3B | $36.3B | $32.0B | $34.6B |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Nov 4, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Results of operations
|
Oct 29, 2026 | Oct 29, 2026 |
| 8-K |
Current report
Officer or director change
|
Oct 13, 2026 | Oct 9, 2026 |
| 10-Q | Quarterly report | Aug 7, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations
|
Aug 4, 2026 | Aug 4, 2026 |
| 8-K |
Current report
Shareholder vote results
|
May 28, 2026 | May 26, 2026 |
All 1007 Merck & Co., Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.