Companies / Health Care
MRK
Merck & Co.
Pharmaceuticals
PharmaceuticalsAnalysis in progress
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Business at a glance
Operating-health scores describe reported fundamentals on a 0–100 scale. They are not a rating of the stock. How they work
Operating health70
Growth32
Profitability100
Cash generation65
Balance sheet66
Dilution control87
Key ratios and five-year financials
Latest quarter revenue YoY (2026-09-30)4.7%Revenue growth (FY)1.3%Revenue CAGR (3y)3.1%Gross margin74.8%Operating margin—Net margin28.1%Free cash flow margin19.0%R&D / revenue24.3%Stock comp / revenue1.3%Net debt / operating cash flow2.09xCurrent ratio1.54Diluted share count change-1.3%
| Fiscal year ending | FY 2021-12 | FY 2022-12 | FY 2023-12 | FY 2024-12 | FY 2025-12 |
|---|---|---|---|---|---|
| Revenue | $48.7B | $59.3B | $60.1B | $64.2B | $65.0B |
| Gross profit | $35.1B | $41.9B | $44.0B | $49.0B | $48.6B |
| Net income | $13.0B | $14.5B | $365M | $17.1B | $18.3B |
| Operating cash flow | $13.1B | $19.1B | $13.0B | $21.5B | $16.5B |
| Capital expenditure | $4.4B | $4.4B | $3.9B | $3.4B | $4.1B |
| Free cash flow | $8.7B | $14.7B | $9.1B | $18.1B | $12.4B |
| R&D | $12.2B | $13.5B | $30.5B | $17.9B | $15.8B |
| Stock-based comp | $479M | $541M | $645M | $761M | $820M |
| Buybacks | $840M | $0 | $1.3B | $1.3B | $5.1B |
| Dividends | $6.6B | $7.0B | $7.4B | $7.8B | $8.2B |
| Cash | $8.1B | $12.7B | $6.8B | $13.2B | $14.6B |
| Total debt | $33.0B | $30.4B | $35.0B | $37.0B | $49.0B |
| Equity | $38.2B | $46.0B | $37.6B | $46.3B | $52.6B |
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