Merck & Co., Inc.

Merck & Co., Inc.

MRK.TO
Merck & Co., Inc.CA flagToronto Stock Exchange
32.94
CAD
- -
- -
81.27BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
2.43
2.4
2.29
2.34
2.4
2.64
2.49
2.65
3.11
3.78
3.73
4.1
4.24
4.35
Basic EPS, GAAP
0.24
0.68
0.26
0.23
0.14
0.39
0.63
0.45
0.83
0.93
0.02
1.09
1.19
0.21
Free Cash Flow per Basic Share
0.64
0.4
0.73
0.61
0.39
0.68
0.86
0.65
0.9
1.22
0.81
1.37
1.08
1.3
Dividend per Share
0.29
0.3
0.3
0.3
0.31
0.32
0.36
0.4
0.42
0.45
0.46
0.5
0.53
0.54
Book Value per Share
17
17.14
16.06
14.58
12.73
10.3
10.2
10.01
15.11
18.12
14.84
18.32
21.26
16.99
Tangible Book Value per Share
4.67
5.38
1.56
1.68
0.69
-1.8
-3.04
-3.03
-2.38
1.78
-0.64
3.27
1.76
-1.87
Basic Weighted Avg Shares
18,119
17,566
17,213
17,013
16,690
16,046
15,715
15,660
15,659
15,671
16,136
15,644
15,316
15,319
Sales/Revenue/Turnover
44,033
42,237
39,498
39,807
40,122
42,294
39,121
41,518
48,704
59,283
60,115
64,168
65,011
66,569
Operating Margin (%)
17.41
15.82
19.11
13.81
16.94
21.12
20.26
13.36
27.1
30.84
4.91
31.51
34.01
10.49
Depreciation Expense
6,988
6,691
6,375
5,471
4,676
4,519
3,310
3,486
3,214
3,909
3,872
4,499
5,838
6,715
Net Income, GAAP
4,404
11,920
4,442
3,920
2,394
6,220
9,843
7,067
13,049
14,519
365
17,117
18,254
3,173
Effective Tax Rate (%)
18.54
30.95
17.44
15.41
62.92
28.82
21.82
22.86
10.96
11.66
80.04
14.06
13.31
46.72
Profit Margin (%)
10
28.22
11.25
9.85
5.97
14.71
25.16
17.02
26.79
24.49
0.61
26.68
28.08
4.77
Working Capital
17,817
14,208
10,550
13,410
6,152
3,669
5,263
437
6,394
11,483
6,474
10,362
15,189
8,948
LT Debt
20,539
18,699
23,829
24,274
21,353
19,806
22,736
25,360
30,690
28,745
33,683
34,462
46,750
51,081
Total Equity
52,326
48,791
44,767
40,308
34,569
26,882
26,001
25,404
38,257
46,058
37,635
46,372
52,662
41,984
Return on Invested Capital (%)
8.08
6.2
8.66
6.66
3.98
11.21
11.6
7.66
17.91
21.36
0.77
21.38
19.76
3.95
Return on Capital (%)
6.44
16.82
7.04
6.58
4.27
12.25
28.33
18.72
22.49
20.74
0.78
23.3
20.94
4.55
Return on Common Equity (%)
8.57
24.22
9.52
9.25
6.43
20.38
37.42
27.59
41.1
34.5
0.87
40.81
36.91
6.98

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
2,589
2,444
2,825
LT Borrowings
46,750
46,673
51,081
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,475
2,470
2,469
Market Capitalization
- -
47,939
49,915

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
43,516
35,015
36,679
Cash, Cash Equivalents & STI
14,565
5,702
7,141
Accounts Receivable, Net
11,775
12,210
12,564
Inventories
6,658
6,479
6,207
Total Current Liabilities
28,327
26,945
27,731
Payables & Accruals
25,738
24,501
24,906
ST Debt
2,589
2,444
2,825
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.75%
17.89%
13.56%
Free Cash Flow
9.64%
16.57%
-23.27%
Net Income, GAAP
473.39%
918.93%
6.64%
Sales/Revenue/Turnover
5.41%
9.7%
1.31%
Total Cash Common Dividend
4.85%
5.64%
4.29%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
15,775
16,112
16,657
15,624
64,168
2025
15,529
15,806
17,276
16,400
65,011
2026
16,286
16,607
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.3
0.35
0.2
0.24
1.09
2025
0.33
0.29
0.38
0.19
1.19
2026
-0.28
-0.09
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.12
0.13
0.12
0.12
0.5
2025
0.13
0.13
0.13
0.13
0.53
2026
0.14
0.14
- -
- -
- -

Company Description

CEO
Robert Davis
Full Time Employees
75,000
Sector
Healthcare
Industry
Drug Manufacturers - General
Address
Rahway NJ United States of America
IPO Date
Jan 8, 2026
Website
merck.com
Business
Merck & Co., Inc. is a global research-based biopharmaceutical company that discovers, develops, manufactures and markets human health medicines and vaccines and animal health products. Operating as Merck in the United States and Canada and as MSD internationally, the Company serves patients, healthcare professionals, hospitals, governments, veterinarians, farmers, livestock producers and pet owners across markets worldwide. Founded in 1891, Merck & Co., Inc. is headquartered in Rahway, New Jersey, with divisional headquarters in Upper Gwynedd, Pennsylvania. The Company’s Human Health business develops and commercializes prescription pharmaceutical products in oncology; vaccines; infectious diseases, including HIV; cardiometabolic disease; cardio-pulmonary disease; immunology; neuroscience; and other specialty-care therapeutic areas. Key marketed products include KEYTRUDA and subcutaneous KEYTRUDA QLEX, anti-PD-1 therapies for multiple cancers; GARDASIL and GARDASIL 9, vaccines for prevention of certain HPV-related cancers and diseases; WINREVAIR for pulmonary arterial hypertension; CAPVAXIVE, a pneumococcal vaccine for adults; JANUVIA and JANUMET for type 2 diabetes; BRIDION for reversal of certain neuromuscular blockade; ISENTRESS for HIV-1; DELSTRIGO, PIFELTRO and DORAVIRINE-based HIV therapies; LAGEVRIO for COVID-19 in certain markets; WELIREG for specified renal-cell carcinoma and other eligible tumor indications; ZEPATIER for chronic hepatitis C; and a range of hospital, primary-care and specialty medicines. The Company also provides clinical-development, manufacturing, medical-information, access-support and pharmacovigilance services associated with its pharmaceutical portfolio. Merck Animal Health, known as MSD Animal Health outside the United States and Canada, manufactures and markets veterinary pharmaceuticals, vaccines, biologics, parasiticides, fertility-management products, identification, traceability and monitoring technologies, and health-management services for companion animals, poultry, swine, ruminants, aquaculture and other livestock. Its offerings include companion-animal parasite-control, vaccine, dermatology, pain-management and chronic-disease products; livestock vaccines, anti-infectives, parasiticides and reproductive-management products; and connected-animal technologies designed to support animal identification, monitoring, data management and production efficiency. The segment markets products and services to veterinarians, animal hospitals, producers, distributors, retailers, governments and pet owners. Merck Animal Health is a division of Merck & Co., Inc. and operates globally. Recent strategic activity includes the completion of Merck’s approximately $9.2 billion acquisition of Cidara Therapeutics in 2026, adding Cidara’s drug-Fc conjugate platform and pipeline; the completion of the acquisition of Terns Pharmaceuticals in 2026, including MK-4208, an investigational next-generation allosteric tyrosine-kinase inhibitor for chronic myeloid leukemia; and the prior acquisition of Verona Pharma, which adds respiratory capabilities and Ohtuvayre, an inhaled treatment for chronic obstructive pulmonary disease. Merck has also introduced and expanded newer products, including KEYTRUDA QLEX, WINREVAIR, CAPVAXIVE and IDVYNSO, a once-daily oral treatment for certain adults with virologically suppressed HIV-1. In Animal Health, the Company signed a definitive agreement in June 2026 to acquire TARGAN, a developer of poultry biodevice technologies including the WingScan gender-identification system, and has advanced products such as EXZOLT CATTLE-CA1 for prevention and treatment of New World screwworm in cattle. The Company is also implementing a multiyear productivity and portfolio-reallocation program through 2027, intended to support investment in a broad pipeline and more than 20 potential launches, while expanding artificial-intelligence and data capabilities through collaborations including a multiyear agreement with Google Cloud.