Merck & Co., Inc.

MRK · CIK 0000310158

19 fiscal years · 69 SEC filings · every number carries its receipt

Revenue (FY)

$65.01B1.3%

FY2025

Net income (FY)

$18.25B6.6%

FY2025

Free cash flow (FY)

$12.36B31.7%

FY2025

Diluted EPS (FY)

$7.288.0%

FY2025

The story, charted

The shape of the business

FY2007–FY2025 · hover any year for its receipt

Revenue & net incomeRevenueNet income

revenue 2.7× since FY2007 · net margin 13.5% → 28.1%

MarginsNet marginFCF margin

FY2025: net 28.1% · free cash flow 19.0% of revenue

Cash engineOperating cash flowFree cash flow

FY2025: $16.47B operating cash − $4.11B capex = $12.36B free cash flow

Returns on capitalReturn on equityReturn on assets

return on equity 42% (FY2008) → 35% (FY2025) · on assets 13.3%

The receipts

Financial statements

Annual Quarterly (as reported)

USD in millions except per-share and share counts. Every value links to the filing it came from — hover for the us-gaap tag, click for the 10-K/10-Q on sec.gov.

USD millions	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022
Revenue	16,286	17,276	15,806	15,529	16,657	16,112	15,775	15,962	15,035	14,487	14,959	14,593
Net income	(4,240)	5,785	4,427	5,079	3,157	5,455	4,762	4,745	(5,975)	2,821	3,248	3,944
Diluted EPS	(1.72)	2.32	1.76	2.01	1.24	2.14	1.87	1.86	(2.35)	1.11	1.28	1.55
Diluted shares	2,472	2,498	2,513	2,531	2,541	2,544	2,544	2,546	2,539	2,551	2,542	2,540
Operating cash flow	3,918	—	—	2,500	—	—	3,090	—	—	1,339	—	—
Capital expenditures	991	—	—	1,328	—	—	861	—	—	1,007	—	—
Free cash flow	2,927	—	—	1,172	—	—	2,229	—	—	332	—	—
Cash & equivalents	5,327	18,169	8,007	8,629	14,593	11,304	5,579	8,605	5,660	9,707	11,145	9,675
Total assets	128,685	129,546	117,523	115,122	117,532	112,630	105,849	106,727	104,469	107,796	107,081	107,095
Shareholders' equity	45,878	51,850	48,993	48,335	44,502	43,582	40,364	41,246	38,693	46,834	44,458	43,243

Figures as reported in SEC filings, normalized by stonks with the tag mapping shown on hover; missing tags render as “—”, never as zero. Free cash flow is derived (operating cash flow − capex) with both parents recorded in its lineage. Quarterly view shows as-reported 10-Q periods; Q4 synthesis ships in Phase 1. See methodology.