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    MRK

    Merck & Co., Inc.

    Company overview

    Market capitalization
    $366.84B
    Employees
    73,000
    Latest publication
    2026-09-29
    About Merck & Co., Inc.

    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. has strategic collaboration with Infinimmune, Inc. to discover and develop antibodies against multiple therapeutic targets. The company was founded in 1891 and is headquartered in Rahway, New Jersey.

    Company website

    Financial statements

    Income Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Total Revenue16,607,000,000USD16,286,000,000USD16,324,000,000USD17,183,000,000USD15,800,000,000USD15,619,000,000USD15,624,000,000USD16,657,000,000USD
    Cost Of Revenue4,395,000,000USD4,195,000,000USD4,817,000,000USD4,194,000,000USD3,847,000,000USD3,885,000,000USD3,828,000,000USD4,080,000,000USD
    Gross Profit12,212,000,000USD12,091,000,000USD11,507,000,000USD12,989,000,000USD11,953,000,000USD11,734,000,000USD11,796,000,000USD12,577,000,000USD
    Research Development9,741,000,000USD12,592,000,000USD2,499,000,000USD3,552,000,000USD3,540,000,000USD3,119,000,000USD4,584,000,000USD5,862,000,000USD
    Selling General Administrative2,904,000,000USD2,700,000,000USD2,848,000,000USD2,633,000,000USD2,633,000,000USD2,552,000,000USD291,000,000USD2,731,000,000USD
    Other Operating Expenses151,000,000USD———————
    Total Operating Expenses12,796,000,000USD15,292,000,000USD5,347,000,000USD5,526,000,000USD5,594,000,000USD5,024,000,000USD7,448,000,000USD8,593,000,000USD
    Operating Income-584,000,000USD-3,201,000,000USD6,160,000,000USD7,463,000,000USD6,359,000,000USD6,710,000,000USD4,348,000,000USD3,984,000,000USD
    Total Other Income Expense Net-99,000,000USD-333,000,000USD-2,740,000,000USD-718,000,000USD-1,360,000,000USD-807,000,000USD-178,000,000USD106,000,000USD
    Interest Income35,000,000USD35,000,000USD844,000,000USD96,000,000USD61,000,000USD109,000,000USD146,000,000USD127,000,000USD
    Interest Expense525,000,000USD479,000,000USD411,000,000USD327,000,000USD305,000,000USD313,000,000USD328,000,000USD330,000,000USD
    Income Before Tax-683,000,000USD-3,534,000,000USD3,420,000,000USD6,745,000,000USD4,999,000,000USD5,903,000,000USD4,170,000,000USD4,090,000,000USD
    Income Tax Expense654,000,000USD709,000,000USD458,000,000USD958,000,000USD571,000,000USD818,000,000USD426,000,000USD929,000,000USD
    Net Income-1,337,000,000USD-4,243,000,000USD2,963,000,000USD5,785,000,000USD4,427,000,000USD5,079,000,000USD3,743,000,000USD3,157,000,000USD
    Minority Interest-2,000,000USD-3,000,000USD1,000,000USD-2,000,000USD-1,000,000USD-6,000,000USD-1,000,000USD-4,000,000USD
    Net Income Applicable To Common Shares-1,335,000,000USD-4,240,000,000USD2,963,000,000USD5,785,000,000USD4,427,000,000USD5,079,000,000USD3,743,000,000USD3,157,000,000USD
    Net Interest Income——-342,000,000USD-231,000,000USD-236,000,000USD-204,000,000USD-182,000,000USD-203,000,000USD
    Tax Provision——458,000,000USD958,000,000USD571,000,000USD818,000,000USD426,000,000USD929,000,000USD
    Net Income From Continuing Ops——2,962,000,000USD5,787,000,000USD4,428,000,000USD5,085,000,000USD3,744,000,000USD3,161,000,000USD
    Ebit——3,831,000,000USD7,072,000,000USD5,304,000,000USD6,216,000,000USD4,498,000,000USD4,420,000,000USD
    Ebitda——6,297,000,000USD8,144,000,000USD6,360,000,000USD7,315,000,000USD5,695,000,000USD5,606,000,000USD
    Depreciation And Amortization——2,466,000,000USD1,072,000,000USD1,056,000,000USD1,099,000,000USD1,197,000,000USD1,186,000,000USD
    Reconciled Depreciation——2,466,000,000USD1,154,000,000USD1,119,000,000USD1,099,000,000USD1,197,000,000USD1,186,000,000USD
    Unclassified Operating Expenses———-659,000,000USD-579,000,000USD-647,000,000USD173,000,000USD—
    Selling And Marketing Expenses——————2,400,000,000USD—
    SourceDisclosureDeterministicFinalDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Income Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20172017-12-31 · USDFY 20162016-12-31 · USDFY 20152015-12-31 · USDFY 20142014-12-31 · USD
    Total Revenue65,011,000,000USD64,168,000,000USD59,283,000,000USD48,704,000,000USD40,122,000,000USD39,807,000,000USD39,498,000,000USD42,237,000,000USD
    Cost Of Revenue16,382,000,000USD15,193,000,000USD17,411,000,000USD13,626,000,000USD12,912,000,000USD14,030,000,000USD14,934,000,000USD16,768,000,000USD
    Gross Profit48,629,000,000USD48,975,000,000USD41,872,000,000USD35,078,000,000USD27,210,000,000USD25,777,000,000USD24,564,000,000USD25,469,000,000USD
    Research Development15,789,000,000USD17,938,000,000USD13,548,000,000USD12,245,000,000USD10,339,000,000USD10,261,000,000USD6,704,000,000USD7,180,000,000USD
    Selling General Administrative10,733,000,000USD7,700,000,000USD7,469,000,000USD7,403,000,000USD244,000,000USD255,000,000USD10,313,000,000USD11,606,000,000USD
    Total Operating Expenses26,522,000,000USD28,754,000,000USD23,590,000,000USD21,879,000,000USD20,413,000,000USD20,278,000,000USD17,017,000,000USD18,786,000,000USD
    Operating Income22,107,000,000USD20,221,000,000USD18,282,000,000USD13,199,000,000USD6,797,000,000USD5,499,000,000USD7,547,000,000USD6,683,000,000USD
    Total Other Income Expense Net-1,040,000,000USD-285,000,000USD-1,838,000,000USD680,000,000USD-276,000,000USD-840,000,000USD-2,146,000,000USD10,600,000,000USD
    Interest Income343,000,000USD415,000,000USD1,348,000,000USD1,884,000,000USD385,000,000USD328,000,000USD983,000,000USD—
    Interest Expense1,357,000,000USD1,271,000,000USD962,000,000USD806,000,000USD754,000,000USD693,000,000USD672,000,000USD732,000,000USD
    Income Before Tax21,067,000,000USD19,936,000,000USD16,444,000,000USD13,879,000,000USD6,521,000,000USD4,659,000,000USD5,401,000,000USD17,283,000,000USD
    Income Tax Expense2,804,000,000USD2,803,000,000USD1,918,000,000USD1,521,000,000USD4,103,000,000USD718,000,000USD942,000,000USD5,349,000,000USD
    Net Income18,263,000,000USD17,117,000,000USD14,519,000,000USD13,049,000,000USD2,394,000,000USD3,920,000,000USD4,442,000,000USD11,920,000,000USD
    Minority Interest9,000,000USD-16,000,000USD-7,000,000USD691,000,000USD24,000,000USD21,000,000USD17,000,000USD14,000,000USD
    Net Income Applicable To Common Shares18,254,000,000USD17,117,000,000USD14,519,000,000USD13,049,000,000USD2,394,000,000USD3,920,000,000USD4,442,000,000USD11,920,000,000USD
    Selling And Marketing Expenses—2,400,000,000USD2,200,000,000USD2,000,000,000USD9,830,000,000USD9,762,000,000USD——
    Unclassified Operating Expenses—716,000,000USD373,000,000USD231,000,000USD————
    Net Interest Income—-856,000,000USD-805,000,000USD-770,000,000USD-369,000,000USD-365,000,000USD——
    Tax Provision—2,803,000,000USD1,918,000,000USD1,521,000,000USD4,103,000,000USD718,000,000USD942,000,000USD—
    Net Income From Continuing Ops—17,133,000,000USD14,526,000,000USD12,358,000,000USD2,418,000,000USD3,941,000,000USD4,459,000,000USD11,934,000,000USD
    Ebit—21,207,000,000USD17,406,000,000USD14,685,000,000USD7,275,000,000USD5,352,000,000USD6,073,000,000USD18,015,000,000USD
    Ebitda—25,706,000,000USD21,315,000,000USD17,899,000,000USD11,951,000,000USD10,823,000,000USD12,448,000,000USD24,706,000,000USD
    Depreciation And Amortization—4,499,000,000USD3,909,000,000USD3,214,000,000USD4,676,000,000USD5,471,000,000USD6,375,000,000USD6,691,000,000USD
    Reconciled Depreciation—4,499,000,000USD3,909,000,000USD3,214,000,000USD4,637,000,000USD———
    Non Operating Income Net Other——-1,501,000,000USD1,341,000,000USD-12,000,000USD-720,000,000USD-1,527,000,000USD11,613,000,000USD
    Discontinued Operations———704,000,000USD————
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Total Assets129,802,000,000USD128,685,000,000USD136,866,000,000USD129,546,000,000USD117,523,000,000USD115,122,000,000USD117,106,000,000USD117,532,000,000USD
    Cash And Equivalents6,849,000,000USD5,327,000,000USD14,565,000,000USD18,169,000,000USD8,007,000,000USD8,629,000,000USD13,242,000,000USD14,593,000,000USD
    Cash And Short Term Investments7,141,000,000USD5,702,000,000USD14,565,000,000USD18,214,000,000USD8,622,000,000USD9,228,000,000USD13,689,000,000USD14,593,000,000USD
    Short Term Investments292,000,000USD375,000,000USD0USD45,000,000USD615,000,000USD599,000,000USD447,000,000USD0USD
    Long Term Investments1,222,000,000USD1,105,000,000USD956,000,000USD1,117,000,000USD774,000,000USD616,000,000USD463,000,000USD575,000,000USD
    Total Current Assets36,679,000,000USD35,015,000,000USD43,516,000,000USD47,557,000,000USD37,065,000,000USD35,503,000,000USD38,782,000,000USD40,361,000,000USD
    Other Current Assets10,767,000,000USD10,624,000,000USD10,518,000,000USD10,779,000,000USD9,996,000,000USD9,289,000,000USD8,706,000,000USD8,143,000,000USD
    Other Non Current Assets19,604,000,000USD19,806,000,000USD18,818,000,000USD—————
    Total Liabilities87,818,000,000USD82,754,000,000USD84,204,000,000USD—————
    Total Current Liabilities27,731,000,000USD26,945,000,000USD28,327,000,000USD28,628,000,000USD26,037,000,000USD25,174,000,000USD28,420,000,000USD29,586,000,000USD
    Other Current Liabilities14,725,000,000USD14,549,000,000USD14,468,000,000USD—————
    Other Non Current Liabilities7,573,000,000USD7,642,000,000USD7,688,000,000USD—————
    Total Stockholder Equity41,933,000,000USD45,878,000,000USD52,606,000,000USD51,850,000,000USD48,993,000,000USD48,335,000,000USD46,313,000,000USD44,502,000,000USD
    Total Equity Including Noncontrolling Interest41,984,000,000USD45,931,000,000USD52,662,000,000USD—————
    Long Term Debt51,081,000,000USD46,673,000,000USD46,750,000,000USD39,969,000,000USD33,968,000,000USD33,484,000,000USD34,462,000,000USD34,982,000,000USD
    Net Receivables12,564,000,000USD12,210,000,000USD11,775,000,000USD12,120,000,000USD11,846,000,000USD10,790,000,000USD10,278,000,000USD11,381,000,000USD
    Inventory6,207,000,000USD6,479,000,000USD6,658,000,000USD6,444,000,000USD6,601,000,000USD6,196,000,000USD6,109,000,000USD6,244,000,000USD
    Property Plant Equipment Net25,737,000,000USD25,433,000,000USD26,823,000,000USD25,639,000,000USD25,236,000,000USD24,793,000,000USD23,779,000,000USD23,446,000,000USD
    Goodwill21,582,000,000USD21,581,000,000USD21,579,000,000USD—————
    Intangible Assets24,978,000,000USD25,745,000,000USD26,681,000,000USD15,313,000,000USD15,193,000,000USD15,758,000,000USD16,370,000,000USD17,010,000,000USD
    Accounts Payable3,827,000,000USD3,863,000,000USD4,404,000,000USD4,147,000,000USD3,892,000,000USD3,784,000,000USD4,079,000,000USD3,586,000,000USD
    Short Term Debt2,825,000,000USD2,444,000,000USD2,589,000,000USD1,405,000,000USD1,434,000,000USD1,360,000,000USD2,931,000,000USD3,149,000,000USD
    Common Stock1,788,000,000USD1,788,000,000USD1,788,000,000USD1,788,000,000USD1,788,000,000USD1,788,000,000USD1,788,000,000USD1,788,000,000USD
    Retained Earnings63,269,000,000USD66,721,000,000USD73,075,000,000USD72,231,000,000USD68,477,000,000USD66,097,000,000USD63,069,000,000USD61,384,000,000USD
    Accumulated Other Comprehensive Income-3,942,000,000USD-4,060,000,000USD-4,287,000,000USD-5,202,000,000USD-5,421,000,000USD-4,965,000,000USD-4,945,000,000USD-5,371,000,000USD
    Short Long Term Debt——2,300,000,000USD1,405,000,000USD1,434,000,000USD1,360,000,000USD2,649,000,000USD3,149,000,000USD
    Total Liab———77,639,000,000USD68,463,000,000USD66,722,000,000USD70,734,000,000USD72,972,000,000USD
    Other Current Liab———18,228,000,000USD16,555,000,000USD14,849,000,000USD17,496,000,000USD18,521,000,000USD
    Capital Stock———1,788,000,000USD1,788,000,000USD1,788,000,000USD1,788,000,000USD1,788,000,000USD
    Good Will———21,587,000,000USD21,591,000,000USD21,684,000,000USD21,668,000,000USD21,697,000,000USD
    Other Assets———17,273,000,000USD16,573,000,000USD-16,768,000,000USD24,189,000,000USD13,579,000,000USD
    Cash———18,169,000,000USD8,007,000,000USD8,629,000,000USD13,242,000,000USD14,593,000,000USD
    Net Debt———23,205,000,000USD27,395,000,000USD26,215,000,000USD25,028,000,000USD23,538,000,000USD
    Short Long Term Debt Total———41,374,000,000USD35,402,000,000USD34,844,000,000USD38,270,000,000USD38,131,000,000USD
    Property Plant Equipment Gross———46,244,000,000USD45,492,000,000USD44,473,000,000USD42,934,000,000USD42,518,000,000USD
    Common Stock Shares Outstanding———2,498,000,000shares2,513,000,000shares2,531,000,000shares2,541,000,000shares2,541,000,000shares
    Non Current Assets Total———81,989,000,000USD80,458,000,000USD79,619,000,000USD78,324,000,000USD77,171,000,000USD
    Non Current Liabilities Total———49,011,000,000USD42,426,000,000USD41,548,000,000USD42,314,000,000USD43,386,000,000USD
    Non Current Liabilities Other———7,661,000,000USD7,031,000,000USD6,655,000,000USD6,465,000,000USD7,540,000,000USD
    Non Currrent Assets Other———18,333,000,000USD17,664,000,000USD16,768,000,000USD16,044,000,000USD14,443,000,000USD
    Net Working Capital———18,929,000,000USD11,028,000,000USD10,329,000,000USD10,362,000,000USD10,775,000,000USD
    Unclassified Non Current Assets———-17,273,000,000USD-16,573,000,000USD—-24,189,000,000USD-13,579,000,000USD
    Unclassified Current Liabilities———3,443,000,000USD2,722,000,000USD3,821,000,000USD1,265,000,000USD-3,149,000,000USD
    Unclassified Non Current Liabilities———1,381,000,000USD1,427,000,000USD1,409,000,000USD1,387,000,000USD864,000,000USD
    Unclassified Equity———-18,755,000,000USD-17,639,000,000USD-16,373,000,000USD-15,387,000,000USD-15,087,000,000USD
    Current Deferred Revenue———————4,330,000,000USD
    SourceDisclosureDeterministicFinalDisclosureDeterministicFinalDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USDFY 20192019-12-31 · USDFY 20182018-12-31 · USD
    Total Assets136,866,000,000USD117,106,000,000USD106,675,000,000USD109,160,000,000USD105,694,000,000USD91,588,000,000USD84,397,000,000USD82,637,000,000USD
    Cash And Equivalents14,565,000,000USD13,242,000,000USD6,841,000,000USD12,694,000,000USD8,096,000,000USD8,062,000,000USD9,676,000,000USD7,965,000,000USD
    Cash And Short Term Investments14,565,000,000USD13,689,000,000USD7,093,000,000USD13,192,000,000USD8,096,000,000USD8,050,000,000USD10,450,000,000USD8,864,000,000USD
    Short Term Investments0USD447,000,000USD252,000,000USD498,000,000USD0USD1,000,000USD774,000,000USD899,000,000USD
    Long Term Investments956,000,000USD463,000,000USD252,000,000USD1,015,000,000USD370,000,000USD785,000,000USD1,469,000,000USD6,233,000,000USD
    Total Current Assets43,516,000,000USD38,782,000,000USD32,168,000,000USD35,722,000,000USD30,266,000,000USD27,764,000,000USD27,483,000,000USD25,875,000,000USD
    Other Current Assets10,518,000,000USD8,706,000,000USD8,368,000,000USD7,169,000,000USD6,987,000,000USD7,357,000,000USD4,277,000,000USD4,500,000,000USD
    Other Non Current Assets18,818,000,000USD———————
    Total Liabilities84,204,000,000USD———————
    Total Current Liabilities28,327,000,000USD28,420,000,000USD25,694,000,000USD24,239,000,000USD23,872,000,000USD27,327,000,000USD22,220,000,000USD22,206,000,000USD
    Other Current Liabilities14,468,000,000USD———————
    Other Non Current Liabilities7,688,000,000USD———————
    Total Stockholder Equity52,606,000,000USD46,313,000,000USD37,581,000,000USD45,991,000,000USD38,184,000,000USD25,317,000,000USD25,907,000,000USD26,701,000,000USD
    Total Equity Including Noncontrolling Interest52,662,000,000USD———————
    Short Long Term Debt2,300,000,000USD2,649,000,000USD1,372,000,000USD1,946,000,000USD2,412,000,000USD6,431,000,000USD3,610,000,000USD5,308,000,000USD
    Long Term Debt46,750,000,000USD34,462,000,000USD33,683,000,000USD28,745,000,000USD30,690,000,000USD25,360,000,000USD22,736,000,000USD19,806,000,000USD
    Net Receivables11,775,000,000USD10,278,000,000USD10,349,000,000USD9,450,000,000USD9,230,000,000USD6,803,000,000USD6,778,000,000USD7,071,000,000USD
    Inventory6,658,000,000USD6,109,000,000USD6,358,000,000USD5,911,000,000USD5,953,000,000USD5,554,000,000USD5,978,000,000USD5,440,000,000USD
    Property Plant Equipment Net26,823,000,000USD23,779,000,000USD23,051,000,000USD21,422,000,000USD19,279,000,000USD17,000,000,000USD15,053,000,000USD13,291,000,000USD
    Goodwill21,579,000,000USD———————
    Intangible Assets26,681,000,000USD16,370,000,000USD18,011,000,000USD20,269,000,000USD22,933,000,000USD14,101,000,000USD14,196,000,000USD13,104,000,000USD
    Accounts Payable4,404,000,000USD4,079,000,000USD3,922,000,000USD4,264,000,000USD4,609,000,000USD4,327,000,000USD3,738,000,000USD3,318,000,000USD
    Short Term Debt2,589,000,000USD2,931,000,000USD1,657,000,000USD2,227,000,000USD2,716,000,000USD6,722,000,000USD3,610,000,000USD5,308,000,000USD
    Common Stock1,788,000,000USD1,788,000,000USD1,788,000,000USD1,788,000,000USD1,788,000,000USD1,788,000,000USD1,788,000,000USD1,788,000,000USD
    Retained Earnings73,075,000,000USD63,069,000,000USD53,895,000,000USD61,081,000,000USD53,696,000,000USD47,362,000,000USD46,602,000,000USD42,579,000,000USD
    Accumulated Other Comprehensive Income-4,287,000,000USD-4,945,000,000USD-5,161,000,000USD-4,768,000,000USD-4,429,000,000USD-6,634,000,000USD-6,193,000,000USD-5,545,000,000USD
    Total Liab—70,734,000,000USD69,040,000,000USD63,102,000,000USD67,437,000,000USD66,184,000,000USD58,396,000,000USD55,755,000,000USD
    Other Current Liab—17,496,000,000USD17,466,000,000USD15,762,000,000USD15,323,000,000USD14,703,000,000USD14,136,000,000USD11,609,000,000USD
    Capital Stock—1,788,000,000USD1,788,000,000USD1,788,000,000USD1,788,000,000USD1,788,000,000USD1,788,000,000USD1,788,000,000USD
    Good Will—21,668,000,000USD21,197,000,000USD21,204,000,000USD21,264,000,000USD18,882,000,000USD19,425,000,000USD18,253,000,000USD
    Other Assets—77,283,000,000USD9,310,000,000USD7,350,000,000USD9,400,000,000USD7,846,000,000USD5,263,000,000USD5,313,000,000USD
    Cash—13,242,000,000USD6,841,000,000USD12,694,000,000USD8,096,000,000USD8,050,000,000USD9,676,000,000USD7,965,000,000USD
    Net Debt—25,028,000,000USD29,427,000,000USD19,291,000,000USD26,535,000,000USD25,367,000,000USD17,675,000,000USD17,149,000,000USD
    Short Long Term Debt Total—38,270,000,000USD36,268,000,000USD31,985,000,000USD34,631,000,000USD33,417,000,000USD27,351,000,000USD25,114,000,000USD
    Property Plant Equipment Gross—42,934,000,000USD41,317,000,000USD39,407,000,000USD37,471,000,000USD17,986,000,000USD15,053,000,000USD13,291,000,000USD
    Common Stock Shares Outstanding—2,541,000,000shares2,547,000,000shares2,542,000,000shares2,538,000,000shares2,541,000,000shares2,580,000,000shares2,679,000,000shares
    Non Current Assets Total—78,324,000,000USD74,507,000,000USD73,438,000,000USD75,428,000,000USD63,824,000,000USD56,914,000,000USD56,762,000,000USD
    Non Current Liabilities Total—42,314,000,000USD43,346,000,000USD38,863,000,000USD43,565,000,000USD38,857,000,000USD36,176,000,000USD33,549,000,000USD
    Non Current Liabilities Other—6,465,000,000USD8,792,000,000USD8,323,000,000USD9,434,000,000USD12,482,000,000USD11,970,000,000USD12,041,000,000USD
    Non Currrent Assets Other—16,044,000,000USD11,996,000,000USD9,528,000,000USD11,582,000,000USD13,056,000,000USD6,771,000,000USD5,881,000,000USD
    Net Working Capital—10,362,000,000USD6,474,000,000USD11,483,000,000USD6,394,000,000USD437,000,000USD5,263,000,000USD3,669,000,000USD
    Unclassified Non Current Assets—-77,283,000,000USD-9,310,000,000USD-7,350,000,000USD-9,400,000,000USD-7,846,000,000USD-5,263,000,000USD-5,313,000,000USD
    Unclassified Current Liabilities—1,265,000,000USD-3,357,000,000USD—-1,188,000,000USD-5,871,000,000USD-2,874,000,000USD-3,337,000,000USD
    Unclassified Non Current Liabilities—1,387,000,000USD871,000,000USD-9,105,000,000USD-11,650,000,000USD-12,135,000,000USD-12,672,000,000USD-13,662,000,000USD
    Unclassified Equity—-15,387,000,000USD-1,788,000,000USD-1,788,000,000USD-1,788,000,000USD-1,788,000,000USD-1,788,000,000USD-1,788,000,000USD
    Current Deferred Revenue——4,634,000,000USD——1,015,000,000USD——
    Additional Paid In Capital——44,509,000,000USD44,379,000,000USD44,238,000,000USD39,588,000,000USD39,660,000,000USD38,808,000,000USD
    Treasury Stock——-57,450,000,000USD-56,489,000,000USD-57,109,000,000USD-56,787,000,000USD-55,950,000,000USD-50,929,000,000USD
    Deferred Long Term Liab———1,795,000,000USD3,441,000,000USD1,015,000,000USD1,470,000,000USD1,702,000,000USD
    Other Liab———9,105,000,000USD11,650,000,000USD12,135,000,000USD12,672,000,000USD13,662,000,000USD
    Accumulated Depreciation———-17,985,000,000USD-18,192,000,000USD-18,982,000,000USD-17,686,000,000USD-16,324,000,000USD
    Net Tangible Assets———4,518,000,000USD3,548,000,000USD-9,525,000,000USD-7,714,000,000USD-2,983,000,000USD
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow YTD

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USD
    Net Income-5,580,000,000USD
    Depreciation1,180,000,000USD
    Stock Based Compensation483,000,000USD
    Deferred Income Tax-859,000,000USD
    Other Non Cash Items-61,000,000USD
    Change In Working Capital-1,190,000,000USD
    Operating Cash Flow9,288,000,000USD
    Capital Expenditures-1,884,000,000USD
    Net Investments781,000,000USD
    Other Investing Activities-8,867,000,000USD
    Unclassified Investing Cash Flow-5,842,000,000USD
    Investing Cash Flow-15,812,000,000USD
    Net Debt Issuance4,811,000,000USD
    Common Stock Issuance200,000,000USD
    Net Common Stock Issuance-1,631,000,000USD
    Common Dividends Paid-4,249,000,000USD
    Other Financing Activities-350,000,000USD
    Unclassified Financing Cash Flow0USD
    Financing Cash Flow-1,219,000,000USD
    Effect Of Forex Changes On Cash-56,000,000USD
    Change In Cash-7,799,000,000USD
    End Cash Flow6,891,000,000USD
    SourceDisclosureDeterministicFinal

    Cash flow Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
    Depreciation581,000,000USD1,418,000,000USD1,154,000,000USD1,119,000,000USD1,099,000,000USD1,197,000,000USD1,186,000,000USD1,132,000,000USD
    Stock Based Compensation185,000,000USD205,000,000USD204,000,000USD216,000,000USD195,000,000USD187,000,000USD195,000,000USD203,000,000USD
    Deferred Income Tax-315,000,000USD———————
    Other Non Cash Items-20,000,000USD837,000,000USD-425,000,000USD236,000,000USD19,000,000USD793,000,000USD2,568,000,000USD34,000,000USD
    Operating Cash Flow3,918,000,000USD———————
    Capital Expenditures-991,000,000USD-1,033,000,000USD-987,000,000USD-764,000,000USD-1,328,000,000USD-937,000,000USD-783,000,000USD-791,000,000USD
    Net Investments-374,000,000USD———————
    Other Investing Activities-8,713,000,000USD———————
    Unclassified Investing Cash Flow-132,000,000USD-10,042,000,000USD385,000,000USD759,000,000USD1,258,000,000USD994,000,000USD550,000,000USD1,080,000,000USD
    Investing Cash Flow-10,210,000,000USD———————
    Net Debt Issuance-79,000,000USD———————
    Net Common Stock Issuance-874,000,000USD———————
    Common Dividends Paid-2,105,000,000USD———————
    Other Financing Activities-80,000,000USD———————
    Unclassified Financing Cash Flow157,000,000USD——————3,673,000,000USD
    Financing Cash Flow-2,981,000,000USD———————
    Effect Of Forex Changes On Cash-19,000,000USD———————
    Change In Cash-9,292,000,000USD-3,514,000,000USD10,187,000,000USD-659,000,000USD-4,586,000,000USD-1,370,000,000USD3,315,000,000USD5,702,000,000USD
    End Cash Flow5,398,000,000USD———————
    Net Income—2,963,000,000USD5,787,000,000USD4,429,000,000USD5,085,000,000USD3,744,000,000USD3,161,000,000USD5,461,000,000USD
    Change To Account Receivables—-1,090,000,000USD——————
    Change To Inventory—-1,180,000,000USD——————
    Change In Working Capital—-2,566,000,000USD1,314,000,000USD-2,259,000,000USD-3,712,000,000USD-1,855,000,000USD2,582,000,000USD-1,012,000,000USD
    Total Cash From Operating Activities—2,857,000,000USD7,822,000,000USD3,293,000,000USD2,500,000,000USD3,450,000,000USD9,291,000,000USD5,637,000,000USD
    Free Cash Flow—1,824,000,000USD6,835,000,000USD2,529,000,000USD1,172,000,000USD2,513,000,000USD8,508,000,000USD4,846,000,000USD
    Investments—46,000,000USD-283,000,000USD-770,000,000USD-1,487,000,000USD-1,444,000,000USD-3,845,000,000USD-1,069,000,000USD
    Total Cashflows From Investing Activities—-11,201,000,000USD-283,000,000USD-770,000,000USD-1,487,000,000USD-1,444,000,000USD-3,845,000,000USD-1,069,000,000USD
    Net Borrowings—7,853,000,000USD5,976,000,000USD48,000,000USD-2,500,000,000USD-539,000,000USD-1,000,000USD—
    Total Cash From Financing Activities—4,751,000,000USD2,638,000,000USD-3,556,000,000USD-5,755,000,000USD-3,009,000,000USD-2,425,000,000USD1,216,000,000USD
    Dividends Paid—-2,018,000,000USD-2,031,000,000USD-2,077,000,000USD-2,050,000,000USD-1,951,000,000USD-1,953,000,000USD-1,986,000,000USD
    Sale Purchase Of Stock—-1,252,000,000USD2,490,000,000USD-1,345,000,000USD-1,164,000,000USD-489,000,000USD-444,000,000USD-251,000,000USD
    Begin Period Cash Flow—18,204,000,000USD8,073,000,000USD8,732,000,000USD13,318,000,000USD14,688,000,000USD11,373,000,000USD5,671,000,000USD
    End Period Cash Flow—14,690,000,000USD18,260,000,000USD8,073,000,000USD8,732,000,000USD13,318,000,000USD14,688,000,000USD11,373,000,000USD
    Other Cashflows From Investing Activities—-172,000,000USD602,000,000USD5,000,000USD70,000,000USD-57,000,000USD233,000,000USD-289,000,000USD
    Other Cashflows From Financing Activities—121,000,000USD-3,797,000,000USD-182,000,000USD-60,000,000USD-30,000,000USD-32,000,000USD-220,000,000USD
    Unclassified Operating Cash Flow——-212,000,000USD-448,000,000USD-186,000,000USD-616,000,000USD-401,000,000USD-181,000,000USD
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20202020-12-31 · USDFY 20192019-12-31 · USDFY 20182018-12-31 · USDFY 20172017-12-31 · USD
    Depreciation5,845,000,000USD4,499,000,000USD3,872,000,000USD3,909,000,000USD3,625,000,000USD3,652,000,000USD4,519,000,000USD4,637,000,000USD
    Stock Based Compensation820,000,000USD761,000,000USD645,000,000USD541,000,000USD475,000,000USD417,000,000USD348,000,000USD312,000,000USD
    Deferred Income Tax-1,671,000,000USD———————
    Other Non Cash Items-511,000,000USD3,991,000,000USD12,228,000,000USD4,469,000,000USD4,329,000,000USD2,217,000,000USD1,924,000,000USD6,722,000,000USD
    Change To Account Receivables-1,090,000,000USD-244,000,000USD-1,148,000,000USD-644,000,000USD-1,002,000,000USD294,000,000USD-418,000,000USD297,000,000USD
    Change To Inventory-1,180,000,000USD-835,000,000USD-816,000,000USD-161,000,000USD-855,000,000USD-508,000,000USD-911,000,000USD-145,000,000USD
    Change To Liabilities-1,646,000,000USD——-504,000,000USD-307,000,000USD-1,821,000,000USD450,000,000USD-4,082,000,000USD
    Change In Working Capital-1,938,000,000USD-3,667,000,000USD-2,205,000,000USD-2,782,000,000USD-4,590,000,000USD-2,067,000,000USD-1,553,000,000USD-5,021,000,000USD
    Operating Cash Flow16,472,000,000USD———————
    Capital Expenditures-4,112,000,000USD-3,372,000,000USD-3,863,000,000USD-4,388,000,000USD-4,684,000,000USD-3,473,000,000USD-2,615,000,000USD-1,888,000,000USD
    Net Investments471,000,000USD———————
    Other Investing Activities-9,984,000,000USD———————
    Unclassified Investing Cash Flow-116,000,000USD3,499,000,000USD4,555,000,000USD———-431,000,000USD-396,000,000USD
    Investing Cash Flow-13,741,000,000USD———————
    Net Debt Issuance11,377,000,000USD———————
    Net Common Stock Issuance-5,084,000,000USD———————
    Common Dividends Paid-8,176,000,000USD———————
    Other Financing Activities-131,000,000USD———————
    Unclassified Financing Cash Flow92,000,000USD——-384,000,000USD89,000,000USD-1,248,000,000USD——
    Financing Cash Flow-1,922,000,000USD———————
    Effect Of Forex Changes On Cash563,000,000USD———————
    Change In Cash1,372,000,000USD6,409,000,000USD-5,864,000,000USD4,606,000,000USD-1,769,000,000USD1,967,000,000USD1,871,000,000USD-423,000,000USD
    End Cash Flow14,690,000,000USD———————
    Net Income—17,133,000,000USD365,000,000USD14,526,000,000USD7,082,000,000USD9,777,000,000USD6,193,000,000USD2,418,000,000USD
    Total Cash From Operating Activities—21,468,000,000USD13,006,000,000USD19,095,000,000USD10,253,000,000USD13,440,000,000USD10,922,000,000USD6,447,000,000USD
    Free Cash Flow—18,096,000,000USD9,143,000,000USD14,707,000,000USD5,569,000,000USD9,967,000,000USD8,307,000,000USD4,563,000,000USD
    Investments—-7,734,000,000USD-15,884,000,000USD-483,000,000USD1,717,000,000USD5,420,000,000USD7,258,000,000USD4,925,000,000USD
    Total Cashflows From Investing Activities—-7,734,000,000USD-14,083,000,000USD-4,960,000,000USD-9,443,000,000USD-2,629,000,000USD4,314,000,000USD2,679,000,000USD
    Net Borrowings—2,309,000,000USD4,184,000,000USD-2,251,000,000USD5,011,000,000USD1,248,000,000USD837,000,000USD-1,129,000,000USD
    Total Cash From Financing Activities—-7,032,000,000USD-4,810,000,000USD-9,119,000,000USD-2,832,000,000USD-8,861,000,000USD-13,160,000,000USD-10,006,000,000USD
    Dividends Paid—-7,840,000,000USD-7,445,000,000USD-7,012,000,000USD-6,215,000,000USD-5,695,000,000USD-5,172,000,000USD-5,167,000,000USD
    Sale Purchase Of Stock—-1,306,000,000USD-1,346,000,000USD384,000,000USD-1,281,000,000USD-4,780,000,000USD-9,091,000,000USD-4,014,000,000USD
    Begin Period Cash Flow—6,909,000,000USD12,773,000,000USD8,167,000,000USD9,934,000,000USD7,967,000,000USD6,096,000,000USD6,515,000,000USD
    End Period Cash Flow—13,318,000,000USD6,909,000,000USD12,773,000,000USD8,165,000,000USD9,934,000,000USD7,967,000,000USD6,092,000,000USD
    Other Cashflows From Investing Activities—-127,000,000USD1,109,000,000USD-89,000,000USD-6,476,000,000USD-4,576,000,000USD102,000,000USD38,000,000USD
    Other Cashflows From Financing Activities—-195,000,000USD-203,000,000USD144,000,000USD-436,000,000USD1,614,000,000USD266,000,000USD304,000,000USD
    Unclassified Operating Cash Flow—-1,249,000,000USD-1,899,000,000USD-1,568,000,000USD-668,000,000USD-556,000,000USD-509,000,000USD-2,621,000,000USD
    Cash And Cash Equivalents Changes———5,016,000,000USD-2,022,000,000USD1,950,000,000USD2,076,000,000USD-423,000,000USD
    Exchange Rate Changes———————457,000,000USD
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Operating metrics

    Keytruda U.S. Approved Indications

    Period endPeriodValueUnitSource
    No published observations yet.

    Keytruda U.S. Approved Tumor Types

    Period endPeriodValueUnitSource
    2026-08-07instant19tumor_typesDisclosure

    Keytruda U.S. Tumor-Agnostic Indications

    Period endPeriodValueUnitSource
    2026-08-07instant2indicationsDisclosure

    Sac-TMT Ongoing Global Phase 3 Trials

    Period endPeriodValueUnitSource
    2026-08-04instant17trialsDisclosure

    Revenue breakdown

    PeriodDimensionBusiness / regionRevenueCurrencySource
    Q1 2026Quarterly · 2026-03-31ProductAdempas78,000,000USDDisclosure
    Q1 2026Quarterly · 2026-03-31ProductLagevrio28,000,000USDDisclosure
    Q1 2026Quarterly · 2026-03-31ProductOther31,000,000USDDisclosure
    Q1 2026Quarterly · 2026-03-31ProductVerquvo9,000,000USDDisclosure
    Q1 2026Quarterly · 2026-03-31SegmentAnimal Healthsegment1,791,000,000USDDisclosure
    Q1 2026Quarterly · 2026-03-31SegmentPharmaceuticalsegment14,349,000,000USDDisclosure
    Q4 2025Quarterly · 2025-12-31SegmentAnimal Healthsegment1,505,000,000USDLegacy provider
    Q4 2025Quarterly · 2025-12-31SegmentPharmaceuticalsegment14,843,000,000USDLegacy provider
    FY 2025Yearly · 2025-12-31ProductAdempas312,000,000USDDisclosure
    FY 2025Yearly · 2025-12-31ProductLagevrio380,000,000USDDisclosure
    FY 2025Yearly · 2025-12-31ProductOther90,000,000USDDisclosure
    FY 2025Yearly · 2025-12-31ProductVerquvo48,000,000USDDisclosure
    FY 2025Yearly · 2025-12-31SegmentAnimal Healthsegment6,354,000,000USDDisclosure
    FY 2025Yearly · 2025-12-31SegmentPharmaceuticalsegment58,142,000,000USDDisclosure
    Q3 2025Quarterly · 2025-09-30SegmentAnimal Healthsegment1,615,000,000USDDisclosure
    Q3 2025Quarterly · 2025-09-30SegmentPharmaceuticalsegment15,611,000,000USDDisclosure
    Q2 2025Quarterly · 2025-06-30ProductAdempas80,000,000USDDisclosure
    Q2 2025Quarterly · 2025-06-30ProductLagevrio83,000,000USDDisclosure
    Q2 2025Quarterly · 2025-06-30ProductOther40,000,000USDDisclosure
    Q2 2025Quarterly · 2025-06-30ProductVerquvo11,000,000USDDisclosure
    Q2 2025Quarterly · 2025-06-30SegmentAnimal Healthsegment1,646,000,000USDDisclosure
    Q2 2025Quarterly · 2025-06-30SegmentPharmaceuticalsegment14,050,000,000USDDisclosure
    Q4 2024Quarterly · 2024-12-31SegmentAnimal Healthsegment1,397,000,000USDDisclosure
    Q4 2024Quarterly · 2024-12-31SegmentPharmaceuticalsegment14,043,000,000USDDisclosure
    FY 2024Yearly · 2024-12-31SegmentAnimal Healthsegment5,877,000,000USDDisclosure
    FY 2024Yearly · 2024-12-31SegmentPharmaceuticalsegment57,400,000,000USDDisclosure
    Q3 2024Quarterly · 2024-09-30SegmentAnimal Healthsegment1,487,000,000USDDisclosure
    Q3 2024Quarterly · 2024-09-30SegmentPharmaceuticalsegment14,943,000,000USDDisclosure
    Q2 2024Quarterly · 2024-06-30ProductAdempas72,000,000USDDisclosure
    Q2 2024Quarterly · 2024-06-30ProductLagevrio110,000,000USDDisclosure
    Q2 2024Quarterly · 2024-06-30ProductOther31,000,000USDDisclosure
    Q2 2024Quarterly · 2024-06-30ProductVerquvo9,000,000USDDisclosure
    Q2 2024Quarterly · 2024-06-30SegmentAnimal Healthsegment1,482,000,000USDDisclosure
    Q2 2024Quarterly · 2024-06-30SegmentPharmaceuticalsegment14,408,000,000USDDisclosure
    Q1 2024Quarterly · 2024-03-31SegmentAnimal Healthsegment1,511,000,000USDDisclosure
    Q1 2024Quarterly · 2024-03-31SegmentPharmaceuticalsegment14,006,000,000USDDisclosure
    FY 2023Yearly · 2023-12-31SegmentAnimal Healthsegment5,625,000,000USDDisclosure
    FY 2023Yearly · 2023-12-31SegmentPharmaceuticalsegment53,583,000,000USDDisclosure
    FY 2022Yearly · 2022-12-31SegmentAll Other Segments0USD0001628280-23-005061
    FY 2022Yearly · 2022-12-31SegmentAnimal Healthsegment5,550,000,000USD0001628280-23-005061
    FY 2022Yearly · 2022-12-31SegmentPharmaceuticalsegment52,005,000,000USD0001628280-23-005061
    Q3 2022Quarterly · 2022-09-30ProductAdempas57,000,000USD0001628280-23-036717
    Q3 2022Quarterly · 2022-09-30ProductLagevrio436,000,000USD0001628280-23-036717
    Q3 2022Quarterly · 2022-09-30ProductOther126,000,000USD0001628280-23-036717
    Q3 2022Quarterly · 2022-09-30ProductVerquvo6,000,000USD0001628280-23-036717
    FY 2021Yearly · 2021-12-31SegmentAll Other Segments0USD0001628280-23-005061
    FY 2021Yearly · 2021-12-31SegmentAnimal Healthsegment5,568,000,000USD0001628280-23-005061
    FY 2021Yearly · 2021-12-31SegmentPharmaceuticalsegment42,754,000,000USD0001628280-23-005061
    FY 2020Yearly · 2020-12-31SegmentAll Other Segments23,000,000USD0001628280-23-005061
    FY 2020Yearly · 2020-12-31SegmentAnimal Healthsegment4,703,000,000USD0001628280-23-005061
    FY 2020Yearly · 2020-12-31SegmentPharmaceuticalsegment36,610,000,000USD0001628280-23-005061
    FY 2019Yearly · 2019-12-31SegmentAll Other Segments175,000,000USD0000310158-22-000003
    FY 2019Yearly · 2019-12-31SegmentAnimal Healthsegment4,393,000,000USD0000310158-22-000003
    FY 2019Yearly · 2019-12-31SegmentPharmaceuticalsegment34,100,000,000USD0000310158-22-000003
    FY 2018Yearly · 2018-12-31SegmentAll Other Segments250,000,000USD0000310158-21-000004
    FY 2018Yearly · 2018-12-31SegmentAnimal Healthsegment4,212,000,000USD0000310158-21-000004
    FY 2018Yearly · 2018-12-31SegmentPharmaceuticalsegment37,689,000,000USD0000310158-21-000004

    Periods follow company fiscal calendars. Quarterly, annual and year-to-date amounts are shown separately. Missing values are not zero. Data may be delayed, incomplete or corrected; follow the disclosure links to verify figures.