MRK Chart
About

Merck & Co., Inc. operates as a healthcare company worldwide. It offers human health pharmaceutical for various areas under the Keytruda, Keytruda Qlex, Welireg, Gardasil, ProQuad, M-M-R II, Varivax, Vaxneuvance, Capvaxive, RotaTeq, Pneumovax 23, Bridion, Prevymis, Dificid, Zerbaxa, Winrevair, Adempas/ Verquvo, Ohtuvayre, Lagevrio, Isentress/Isentress HD, Delstrigo, Pifeltro, Belsomra, Januvia, and Janumet brands. The company also provides veterinary pharmaceuticals, vaccines and health management solutions and services, such as livestock products under the Nuflor, Bovilis/Vista, Bovilis Cryptium, Banamine, Estrumate, Matrix, Resflor, Zuprevo, Revalor, Safe-Guard, M+Pac, Porcilis, Circumvent, Nobilis/Innovax, Paracox and Coccivac, Exzolt, Slice, Imvixa, Clynav, Aquavac/Norvax, Aquaflor, Flexolt brands; Allflex Livestock Intelligence solutions; and companion animal products under the Bravecto One-Month, Bravecto Injectable/Quantum, Bravecto TriUNO, Bravecto Plus, Sentinel Spectrum, Sentinel Flavor Tabs, Numelvi, Optimmune, Nobivac NXT, GilvetMab, Otomax, Mometamax, Mometamax Ultra, Posatex, Caninsulin/Vetsulin, Panacur, Safeguard, Regumate, Prestige, Scalibor/Exspot, Sure Petcare, and Home Again brands. It has development and commercialization agreement for three of Daiichi Sankyo's deruxtecan ADC candidates; AstraZeneca PLC to co-development and co-commercialize AstraZeneca's Lynparza products for multiple cancer types; licensed to develop, manufacture and commercialize LM-299, a novel investigational PD-1/VEGF bispecific antibody from LaNova; and collaboration agreement with Eisai Co., Ltd., Bayer AG, and Ridgeback Biotherapeutics LP, as well Moderna, Inc. Merck & Co., Inc. was founded in 1891 and is headquartered in Rahway, New Jersey.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Drug Manufacturers - Gen Market Cap 306.13B
Enterprise Value 342.16B Income 18.25B Sales 65.01B
Book/sh 21.26 Cash/sh 5.89 Dividend Yield 275.00%
Payout 45.05% Employees 73000 IPO —
P/E 17.01 Forward P/E 12.68 PEG —
P/S 4.71 P/B 5.82 P/C —
EV/EBITDA 11.76 EV/Sales 5.26 Quick Ratio 0.96
Current Ratio 1.54 Debt/Eq 95.96 LT Debt/Eq —
EPS (ttm) 7.28 EPS next Y 9.77 EPS Growth -19.30%
Revenue Growth 5.00% Earnings 2026-04-30 ROA 12.04%
ROE 36.88% ROIC — Gross Margin 77.21%
Oper. Margin 32.77% Profit Margin 28.08% Shs Outstand 2.47B
Shs Float 2.47B Short Float 1.26% Short Ratio 2.03
Short Interest — 52W High 125.14 52W Low 73.31
Beta 0.30 Avg Volume 13.43M Volume 9.47M
Target Price $127.18 Recom Buy Prev Close $119.30
Price $123.82 Change 3.79%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$127.18
Mean price target
2. Current target
$123.82
Latest analyst target
3. DCF / Fair value
$86.54
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$123.82
Low
$100.00
High
$150.00
Mean
$127.18

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-25 init RBC Capital — → Outperform $142
2026-02-20 init Barclays — → Overweight $140
2026-02-06 main Guggenheim Buy → Buy $140
2026-02-04 main Citigroup Neutral → Neutral $120
2026-02-04 main Cantor Fitzgerald Neutral → Neutral $120
2026-02-04 main Wells Fargo Overweight → Overweight $135
2026-01-27 main Citigroup Neutral → Neutral $115
2026-01-20 main TD Cowen Hold → Hold $120
2026-01-08 up Wolfe Research Peer Perform → Outperform $135
2026-01-07 main UBS Buy → Buy $130
2026-01-07 main Citigroup Neutral → Neutral $110
2025-12-18 up BMO Capital Market Perform → Outperform $130
2025-12-15 main B of A Securities Buy → Buy $120
2025-12-12 main Morgan Stanley Equal-Weight → Equal-Weight $102
2025-12-04 main Scotiabank Sector Outperform → Sector Outperform $120
2025-12-02 main Goldman Sachs Buy → Buy $120
2025-11-24 up Wells Fargo Equal-Weight → Overweight $125
2025-11-18 main Deutsche Bank Hold → Hold $111
2025-11-03 main Morgan Stanley Equal-Weight → Equal-Weight $100
2025-09-17 down Berenberg Buy → Hold $90
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 10000 1214562.0 — Sale at price 121.46 per share. GUINDO CHIRFI Officer — 2026-02-12 00:00:00 D
1 10235 1202844.0 — Sale at price 117.52 per share. LI DEAN Y Officer — 2026-02-10 00:00:00 D
2 10000 1184101.0 — Sale at price 118.41 per share. GUINDO CHIRFI Officer — 2026-02-09 00:00:00 D
3 121573 14485690.0 — Sale at price 119.15 per share. ZACHARY JENNIFER L General Counsel — 2026-02-09 00:00:00 D
4 121573 14485690.0 — Conversion of Exercise of derivative security at price 119.15 per share. ZACHARY JENNIFER L General Counsel — 2026-02-09 00:00:00 D
5 5000 609525.0 — Sale at price 121.90 per share. WILLIAMS DAVID MICHAEL Chief Technology Officer — 2026-02-06 00:00:00 D
6 37685 4557025.0 — Sale at price 120.92 per share. DELUCA RICHARD ROBERT JR. Officer — 2026-02-06 00:00:00 D
7 15000 1827992.0 — Sale at price 121.87 per share. OOSTHUIZEN JOHANNES JACOBUS Officer — 2026-02-06 00:00:00 D
8 5000 388100.0 — Conversion of Exercise of derivative security at price 77.62 per share. WILLIAMS DAVID MICHAEL Chief Technology Officer — 2026-02-06 00:00:00 D
9 20000 2437676.0 — Sale at price 121.88 per share. GUINDO CHIRFI Officer — 2026-02-05 00:00:00 D
Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems-112.34M-73.39M-132.09M-233.18M
TaxRateForCalcs0.130.140.210.12
NormalizedEBITDA29.11B26.23B7.54B23.31B
TotalUnusualItems-844.00M-522.00M-629.00M-1.99B
TotalUnusualItemsExcludingGoodwill-844.00M-522.00M-629.00M-1.99B
NetIncomeFromContinuingOperationNetMinorityInterest18.25B17.12B365.00M14.52B
ReconciledDepreciation5.84B4.50B3.87B3.91B
ReconciledCostOfRevenue16.38B15.19B16.13B17.41B
EBITDA28.26B25.71B6.91B21.32B
EBIT22.42B21.21B3.04B17.41B
NetInterestIncome-1.01B-856.00M-781.00M-805.00M
InterestExpense1.36B1.27B1.15B962.00M
InterestIncome343.00M415.00M365.00M157.00M
NormalizedIncome18.99B17.57B861.91M16.28B
NetIncomeFromContinuingAndDiscontinuedOperation18.25B17.12B365.00M14.52B
TotalExpenses42.90B43.95B57.16B41.00B
DilutedAverageShares2.51B2.54B2.55B2.54B
BasicAverageShares2.47B2.53B2.54B2.53B
DilutedEPS7.286.740.145.71
BasicEPS7.386.760.145.73
DilutedNIAvailtoComStockholders18.25B17.12B365.00M14.52B
NetIncomeCommonStockholders18.25B17.12B365.00M14.52B
NetIncome18.25B17.12B365.00M14.52B
MinorityInterests-9.00M-16.00M-12.00M-7.00M
NetIncomeIncludingNoncontrollingInterests18.26B17.13B377.00M14.53B
NetIncomeDiscontinuousOperations0.000.00704.00M
NetIncomeContinuousOperations18.26B17.13B377.00M14.53B
TaxProvision2.80B2.80B1.51B1.92B
PretaxIncome21.07B19.94B1.89B16.44B
OtherIncomeExpense-26.00M571.00M-284.00M-1.03B
OtherNonOperatingIncomeExpenses818.00M1.09B345.00M960.00M
SpecialIncomeCharges-889.00M-309.00M-599.00M-337.00M
RestructuringAndMergernAcquisition889.00M309.00M599.00M337.00M
GainOnSaleOfSecurity45.00M-213.00M-30.00M-1.66B
NetNonOperatingInterestIncomeExpense-1.01B-856.00M-781.00M-805.00M
InterestExpenseNonOperating1.36B1.27B1.15B962.00M
InterestIncomeNonOperating343.00M415.00M365.00M157.00M
OperatingIncome22.11B20.22B2.95B18.28B
OperatingExpense26.52B28.75B41.03B23.59B
ResearchAndDevelopment15.79B17.94B30.53B13.55B
SellingGeneralAndAdministration10.73B10.82B10.50B10.04B
GrossProfit48.63B48.98B43.99B41.87B
CostOfRevenue16.38B15.19B16.13B17.41B
TotalRevenue65.01B64.17B60.12B59.28B
OperatingRevenue65.01B64.17B60.12B59.28B
Line Item2025-12-312024-12-312023-12-312022-12-31
TreasurySharesNumber1.10B1.05B1.05B1.04B
OrdinarySharesNumber2.47B2.53B2.53B2.54B
ShareIssued3.58B3.58B3.58B3.58B
NetDebt34.77B23.87B28.21B18.00B
TotalDebt49.34B37.11B35.05B30.69B
TangibleBookValue4.35B8.28B-1.63B4.52B
InvestedCapital101.94B83.42B72.64B76.68B
WorkingCapital15.19B10.36B6.47B11.48B
NetTangibleAssets4.35B8.28B-1.63B4.52B
CommonStockEquity52.61B46.31B37.58B45.99B
TotalCapitalization99.36B80.78B71.26B74.74B
TotalEquityGrossMinorityInterest52.66B46.37B37.63B46.06B
MinorityInterest56.00M59.00M54.00M67.00M
StockholdersEquity52.61B46.31B37.58B45.99B
GainsLossesNotAffectingRetainedEarnings-4.29B-4.95B-5.16B-4.77B
OtherEquityAdjustments-4.29B-4.95B-5.16B-4.77B
TreasuryStock63.00B58.30B57.45B56.49B
RetainedEarnings73.08B63.07B53.90B61.08B
AdditionalPaidInCapital45.03B44.70B44.51B44.38B
CapitalStock1.79B1.79B1.79B1.79B
CommonStock1.79B1.79B1.79B1.79B
TotalLiabilitiesNetMinorityInterest84.20B70.73B69.04B63.10B
TotalNonCurrentLiabilitiesNetMinorityInterest55.88B42.31B43.35B38.86B
OtherNonCurrentLiabilities7.69B6.46B8.79B8.32B
LiabilitiesHeldforSaleNonCurrent0.00
NonCurrentDeferredLiabilities1.44B1.39B871.00M1.79B
NonCurrentDeferredTaxesLiabilities1.44B1.39B871.00M1.79B
LongTermDebtAndCapitalLeaseObligation46.75B34.46B33.68B28.75B
LongTermDebt46.75B34.46B33.68B28.75B
CurrentLiabilities28.33B28.42B25.69B24.24B
CurrentDebtAndCapitalLeaseObligation2.59B2.65B1.37B1.95B
CurrentDebt2.59B2.65B1.37B1.95B
PayablesAndAccruedExpenses25.74B25.77B24.32B22.29B
CurrentAccruedExpenses14.47B15.69B15.77B14.16B
Payables11.27B10.08B8.56B8.13B
DividendsPayable2.14B2.08B1.99B1.88B
TotalTaxPayable4.73B3.91B2.65B1.99B
IncomeTaxPayable4.73B3.91B2.65B1.99B
AccountsPayable4.40B4.08B3.92B4.26B
TotalAssets136.87B117.11B106.67B109.16B
TotalNonCurrentAssets93.35B78.32B74.51B73.44B
OtherNonCurrentAssets18.82B16.04B12.00B9.53B
InvestmentsAndAdvances956.00M463.00M252.00M1.01B
InvestmentinFinancialAssets956.00M463.00M252.00M
AvailableForSaleSecurities956.00M463.00M252.00M
TradingSecurities463.00M252.00M
GoodwillAndOtherIntangibleAssets48.26B38.04B39.21B41.47B
OtherIntangibleAssets26.68B16.37B18.01B20.27B
Goodwill21.58B21.67B21.20B21.20B
NetPPE25.32B23.78B23.05B21.42B
AccumulatedDepreciation-21.91B-19.16B-18.27B-17.98B
GrossPPE47.23B42.93B41.32B39.41B
ConstructionInProgress9.17B7.98B8.26B9.19B
MachineryFurnitureEquipment19.76B18.28B17.76B16.76B
BuildingsAndImprovements17.98B16.36B14.97B13.17B
LandAndImprovements321.00M307.00M326.00M295.00M
Properties0.000.000.000.00
CurrentAssets43.52B38.78B32.17B35.72B
OtherCurrentAssets10.52B8.71B8.37B7.17B
AssetsHeldForSaleCurrent0.00
Inventory6.66B6.11B6.36B5.91B
Receivables11.78B10.28B10.35B9.45B
AccountsReceivable11.78B10.28B10.35B9.45B
AllowanceForDoubtfulAccountsReceivable-97.00M-89.00M-88.00M-72.00M
GrossAccountsReceivable11.87B10.37B10.44B9.52B
CashCashEquivalentsAndShortTermInvestments14.56B13.69B7.09B13.19B
OtherShortTermInvestments0.00447.00M252.00M498.00M
CashAndCashEquivalents14.56B13.24B6.84B12.69B
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow12.36B18.10B9.14B14.71B
RepurchaseOfCapitalStock-5.08B-1.31B-1.35B0.00
RepaymentOfDebt-2.50B-1.29B-1.75B-2.25B
IssuanceOfDebt13.88B3.60B5.94B0.00
CapitalExpenditure-4.11B-3.37B-3.86B-4.39B
EndCashPosition14.69B13.32B6.91B12.77B
OtherCashAdjustmentOutsideChangeinCash0.000.00
BeginningCashPosition13.32B6.91B12.77B8.17B
EffectOfExchangeRateChanges563.00M-293.00M23.00M-410.00M
ChangesInCash809.00M6.70B-5.89B5.02B
FinancingCashFlow-1.92B-7.03B-4.81B-9.12B
CashFromDiscontinuedFinancingActivities0.000.00-504.00M
CashFlowFromContinuingFinancingActivities-1.92B-7.03B-4.81B-9.12B
NetOtherFinancingCharges-131.00M-372.00M-328.00M-240.00M
ProceedsFromStockOptionExercised92.00M177.00M125.00M384.00M
CashDividendsPaid-8.18B-7.84B-7.45B-7.01B
CommonStockDividendPaid-8.18B-7.84B-7.45B-7.01B
NetCommonStockIssuance-5.08B-1.31B-1.35B0.00
CommonStockPayments-5.08B-1.31B-1.35B0.00
NetIssuancePaymentsOfDebt11.38B2.31B4.18B-2.25B
NetShortTermDebtIssuance0.000.00-3.99B
NetLongTermDebtIssuance11.38B2.31B4.18B-2.25B
LongTermDebtPayments-2.50B-1.29B-1.75B-2.25B
LongTermDebtIssuance13.88B3.60B5.94B0.00
InvestingCashFlow-13.74B-7.73B-14.08B-4.96B
CashFromDiscontinuedInvestingActivities0.000.00-134.00M
CashFlowFromContinuingInvestingActivities-13.74B-7.73B-14.08B-4.96B
NetOtherInvestingChanges-58.00M-127.00M-36.00M-89.00M
NetInvestmentPurchaseAndSale471.00M-142.00M1.85B-483.00M
SaleOfInvestment1.68B377.00M2.80B721.00M
PurchaseOfInvestment-1.21B-519.00M-955.00M-1.20B
NetBusinessPurchaseAndSale-10.04B-4.09B-12.03B0.00
PurchaseOfBusiness-10.04B-4.09B-12.03B0.00
CapitalExpenditureReported-4.11B-3.37B-3.86B-4.39B
OperatingCashFlow16.47B21.47B13.01B19.09B
CashFromDiscontinuedOperatingActivities0.000.00987.00M
CashFlowFromContinuingOperatingActivities16.47B21.47B13.01B19.09B
ChangeInWorkingCapital-6.98B-3.67B-2.21B-2.78B
ChangeInOtherWorkingCapital-3.31B-1.42B-2.31B-1.47B
ChangeInOtherCurrentLiabilities195.00M-49.00M456.00M-545.00M
ChangeInPayablesAndAccruedExpense-1.59B-1.12B1.62B41.00M
ChangeInAccruedExpense-1.84B-2.33B1.78B-50.00M
ChangeInPayable247.00M1.21B-166.00M91.00M
ChangeInAccountPayable110.00M182.00M-380.00M-289.00M
ChangeInTaxPayable137.00M1.02B214.00M380.00M
ChangeInIncomeTaxPayable137.00M1.02B214.00M380.00M
ChangeInInventory-1.18B-835.00M-816.00M-161.00M
ChangeInReceivables-1.09B-244.00M-1.15B-644.00M
ChangesInAccountReceivables-1.09B-244.00M-1.15B-644.00M
OtherNonCashItems511.00M3.97B11.76B1.30B
StockBasedCompensation820.00M761.00M645.00M541.00M
AssetImpairmentCharge55.00M39.00M792.00M1.75B
DeferredTax-1.67B-1.25B-1.90B-1.57B
DeferredIncomeTax-1.67B-1.25B-1.90B-1.57B
DepreciationAmortizationDepletion5.84B4.50B3.87B3.91B
DepreciationAndAmortization5.84B4.50B3.87B3.91B
AmortizationCashFlow2.79B2.40B2.04B2.08B
AmortizationOfIntangibles2.79B2.40B2.04B2.08B
Depreciation3.04B2.10B1.83B1.82B
OperatingGainsLosses-368.00M-14.00M-340.00M1.42B
EarningsLossesFromEquityInvestments-340.00M1.42B-1.94B
GainLossOnInvestmentSecurities-368.00M-14.00M-340.00M1.42B
NetIncomeFromContinuingOperations18.26B17.13B377.00M14.53B
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for MRK
Date User Asset Broker Type Position Size Entry Price Patterns