Merck

MRK · NYSE · USD

$144.30+0.34%+$0.49

Close · October 2, 2026

At a glance

Revenue growth: +1.31%; 2025 vs 2024
Net income growth: +6.64%; 2025 vs 2024
Net margin: 28.1%; 2024: 26.7%

Financial data

Amounts in millions of USD; per-share values in USD; shares in millions.

Income statement · Annual
Item	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Total revenue	65,011	64,168	60,115	59,283	48,704	41,518	39,121	42,294	40,122	39,807
Cost of revenue	14,815	14,698	15,915	17,206	13,466	11,990	11,060	13,351	12,716	13,502
Gross profit	50,196	49,470	44,200	42,077	35,238	29,528	28,061	28,943	27,406	26,305
Selling, general and administrative	10,115	10,100	9,884	9,669	9,403	8,569	8,829	9,587	9,560	9,313
Research and development	15,614	14,481	18,342	11,918	11,942	10,564	8,594	9,254	9,845	6,921
Operating income	24,467	24,889	15,974	20,490	13,893	10,395	10,638	10,102	8,001	10,071
EBIT	24,467	24,889	15,974	20,490	13,893	10,395	10,638	10,102	8,001	10,071
EBITDA	29,105	29,134	19,706	24,279	17,016	13,613	13,715	14,622	12,617	15,315
Interest expense	1,357	1,271	1,146	962	806	831	893	772	754	693
Pre-tax income	21,067	19,936	1,889	16,444	13,879	5,863	7,171	8,701	6,521	4,659
Income tax	2,804	2,803	1,512	1,918	1,521	1,340	1,565	2,508	4,103	718
Net income	18,254	17,117	365	14,519	13,049	7,067	9,843	6,220	2,394	3,920
Net income to common shareholders	18,254	17,117	365	14,519	12,345	4,519	5,690	6,220	2,394	3,920
Basic EPS	7.30	6.76	0.14	5.73	4.88	1.79	2.22	2.33	0.88	1.42
Diluted EPS	7.28	6.74	0.14	5.71	4.86	1.78	2.21	2.32	0.87	1.41
Average shares (basic)	2,502	2,532	2,537	2,532	2,530	2,530	2,565	2,664	2,730	2,766
Average shares (diluted)	2,507	2,541	2,547	2,542	2,538	2,541	2,580	2,679	2,748	2,787
Dividend per share	3.24	3.08	2.92	2.76	2.60	2.44	2.20	1.92	1.88	1.84