Merck & Co., Inc.

MRK · Large cap · Calculated market cap · $358.5B · as of 2026-09-30

Company Stats

Market Cap: $358.5B; as of Sep 30, 2026
Enterprise Value: $393.2B
Shares Outstanding: 2.5B
Free Float: 100.0%

Income Statement

Revenue: $65.0B
Net Income: $18.3B
Revenue Growth, 3Y: 3.1%
FCF Margin, 3Y Avg: 20.8%
FCF Margin, Worst Year: 15.2%

Cash Flow

Free Cash Flow: $12.4B
FCF Yield: 3.4%
Owner FCF Yield: 3.2%

Balance Sheet

Cash & Equivalents: $14.6B
Total Debt: $49.3B
Net Debt: $34.7B

Returns & Capital

Dividends Paid: $8.2B
Dividend Yield: 2.3%
Dividend Payout, 3Y Avg: 710.1%
Share Repurchases: $5.1B
Buyback Yield, 3Y Avg: 0.7%
SBC, 3Y Avg: $742.0M

Cash Flow by Year

Year	Revenue	FCF	Margin
FY2025	$65.0B	$12.4B	19.0%
FY2024	$64.2B	$18.1B	28.2%
FY2023	$60.1B	$9.1B	15.2%
FY2022	$59.3B	$14.7B	24.8%
FY2021	$48.7B	$8.7B	17.8%

Annual filing data through FY ended December 31, 2025; shares and float as of November 7, 2026. Yields and enterprise value use the calculated market cap above, at its as-of date. Ratios are our calculations from reported figures.

Company RSS

Earnings

Oct 29, 2026Merck Raises 2026 Sales Outlook After Third-Quarter Lift Aug 4, 2026Merck Raises Sales Outlook as Acquisition Charge Drives Loss

Other Coverage

September 28, 2026 QBook

Stronger demand supports expansion as pricing diverges September 23, 2026 Drug Pipeline

Abivax, Merck and Teva–Sanofi pursue the next wave of colitis therapies September 23, 2026 Drug Pipeline

Merck’s tulisokibart meets a Phase 3 ulcerative-colitis endpoint August 14, 2026 Industry Earnings Roundup

Healthcare Earnings: Demand Surges, Costs Bite Back July 4, 2026 Guidance Season

Chipmakers Lead a Guidance Season Almost Free of Cuts

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