Merck & Co., Inc.

Listed Company

MRKCIK 0000310158NYSELarge AcceleratedPharmaceutical PreparationsNew JerseyFY ends Dec 31

Period

FY 2025

Revenue

$65.01B

Net Income

$18.25B

Total Assets

$136.87B

Equity

$52.61B

Shares Out

2.47B

Op. Cash Flow

$16.47B

+ 13F Filer

MRK$127.49+56.31% · past yearDBEQ Basic

Daily closing prices

Business

Merck & Co., Inc. is a global health care company that discovers, develops, manufactures and markets prescription medicines, biologic therapies, vaccines and animal health products. The pharmaceutical segment sells human health products and vaccines through wholesalers, retailers, hospitals, government agencies and managed care providers. The animal health segment offers veterinary pharmaceuticals, vaccines, health management solutions and digital identification products to veterinarians, distributors and animal producers.

Summary from 10-K filed 2026-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Sales	65,011	64,168	60,115	59,283	48,704
Cost of sales	16,382	15,193	16,126	17,411	13,626
Selling, general and administrative	10,733	10,816	10,504	10,042	9,634
Research and development	15,789	17,938	30,531	13,548	12,245
Restructuring costs	889	309	599	337	661
Other (income) expense, net	151	−24	466	1,501	−1,341
Total costs, expenses and other	43,944	44,232	58,226	42,839	34,825
Income Before Taxes	21,067	19,936	1,889	16,444	13,879
Taxes on Income	2,804	2,803	1,512	1,918	1,521
Net Income	18,263	17,133	377	14,526	—
Less: Net Income Attributable to Noncontrolling Interests	9	16	12	7	—
Net Income Attributable to Merck & Co., Inc.	18,254	17,117	365	14,519	13,049
Basic Earnings per Common Share Attributable to Merck & Co., Inc. Common Shareholders (in dollars per share)	7.3	6.76	0.14	5.73	5.16
Earnings per Common Share Assuming Dilution Attributable to Merck & Co., Inc. Common Shareholders (in dollars per share)	7.28	6.74	0.14	5.71	5.14

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	14,565	13,242	6,841	12,694	8,096
Short-term investments	0	447	252	498	—
Accounts receivable (net of allowance for doubtful accounts of $97 in 2025 and $89 in 2024)	11,775	10,278	10,349	9,450	9,230
Inventories (excludes inventories of $5,681 in 2025 and $4,193 in 2024 classified in Other assets - see Note 7)	6,658	6,109	6,358	5,911	5,953
Other current assets	10,518	8,706	8,368	7,169	6,987
Total current assets	43,516	38,782	32,168	35,722	30,266
Investments	956	463	252	1,015	370
Land	321	307	326	295	326
Buildings	17,983	16,360	14,966	13,166	12,529
Machinery, equipment and office furnishings	19,760	18,283	17,763	16,760	16,303
Construction in progress	9,166	7,984	8,262	9,186	8,313
Property, plant and equipment (at cost)	47,230	42,934	41,317	39,407	37,471
Less: accumulated depreciation	21,914	19,155	18,266	17,985	18,192
Property, plant and equipment, net	25,316	23,779	23,051	21,422	19,279
Goodwill	21,579	21,668	21,197	21,204	21,264
Other Intangibles, Net	26,681	16,370	18,011	20,269	22,933
Other Assets	18,818	16,044	11,996	9,528	—
Total Assets	136,866	117,106	106,675	109,160	105,694
Loans payable and current portion of long-term debt	2,589	2,649	1,372	1,946	2,412
Trade accounts payable	4,404	4,079	3,922	4,264	4,609
Accrued and other current liabilities	14,468	15,694	15,766	14,159	13,859
Income taxes payable	4,726	3,914	2,649	1,986	1,224
Dividends payable	2,140	2,084	1,985	1,884	1,768
Total current liabilities	28,327	28,420	25,694	24,239	23,872
Long-Term Debt	46,750	34,462	33,683	28,745	30,690
Deferred Income Taxes	1,439	1,387	871	1,795	3,441
Other Noncurrent Liabilities	7,688	6,465	8,792	8,323	9,434
Common stock, $0.50 par value Authorized - 6,500,000,000 shares Issued - 3,577,103,522 shares in 2025 and 2024	1,788	1,788	1,788	1,788	1,788
Other paid-in capital	45,029	44,704	44,509	44,379	44,238
Retained earnings	73,075	63,069	53,895	61,081	53,696
Accumulated other comprehensive loss	−4,287	−4,945	−5,161	−4,768	−4,429
Stockholders' equity before deduction for treasury stock	115,605	104,616	95,031	102,480	95,293
Less treasury stock, at cost: 1,102,476,756 shares in 2025 and 1,049,466,187 shares in 2024	62,999	58,303	57,450	56,489	57,109
Total Merck & Co., Inc. stockholders equity	52,606	46,313	37,581	45,991	38,184
Noncontrolling Interests	56	59	54	67	73
Total equity	52,662	46,372	37,635	46,058	38,257
Total Liabilities and Equity	136,866	117,106	106,675	109,160	105,694

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization	2,793	2,395	2,044	2,085	1,636
Depreciation	3,000	2,100	1,800	1,800	1,600
Intangible asset impairment charges	55	39	792	1,700	302
Income from investments in equity securities, net	−368	−14	−340	1,419	−1,940
Charges for certain research and development asset acquisitions	0	3,456	11,409	0	1,556
Deferred income taxes	−1,671	−1,249	−1,899	−1,568	187
Share-based compensation	820	761	645	541	479
Other	511	510	355	1,301	805
Accounts receivable	−1,090	−244	−1,148	−644	−2,033
Inventories	−1,180	−835	−816	−161	−674
Trade accounts payable	110	182	−380	−289	405
Accrued and other current liabilities	−1,841	−2,328	1,783	−50	277
Income taxes payable	137	1,023	214	380	−540
Noncurrent liabilities	195	−49	456	−545	484
Other	−3,307	−1,416	−2,314	−1,473	−1,758
Net Cash Provided by Operating Activities	16,472	21,468	13,006	19,095	—
Capital expenditures	−4,112	−3,372	−3,863	−4,388	−4,448
Purchases of securities and other investments	−1,207	−519	−955	−1,204	−1
Proceeds from sales of securities and other investments	1,678	377	1,658	721	1,026
Proceeds from sale of Seagen Inc. common stock	0	0	1,145	0	0
Acquisition of Verona Pharma plc, net of cash acquired	−10,042	0	0	0	−179
Acquisition of Eyebiotech Limited, net of cash acquired	0	−1,344	0	0	−11,174
Acquisition of Elanco Animal Health Incorporated aqua business	0	−1,303	0	0	—
Acquisition of Harpoon Therapeutics, Inc., net of cash acquired	0	−746	0	0	−1,554
Acquisition of MK-1045 from Curon Pharmaceutical	0	−700	0	0	—
Acquisition of Prometheus Biosciences, Inc., net of cash acquired	0	0	−10,705	0	0
Acquisition of Imago BioSciences Inc., net of cash acquired	0	0	−1,327	—	0
Other	−58	−127	−36	−89	−91
Net Cash Used in Investing Activities	−13,741	−7,734	−14,083	−4,960	—
Payments on debt	−2,503	−1,290	−1,755	−2,251	−2,319
Proceeds from issuance of debt	13,880	3,599	5,939	0	—
Purchases of treasury stock	−5,084	−1,306	−1,346	0	−840
Dividends paid to stockholders	−8,176	−7,840	−7,445	−7,012	−6,610
Proceeds from exercise of stock options	92	177	125	384	202
Other	−131	−372	−328	−240	−286
Net Cash Used in Financing Activities	−1,922	−7,032	−4,810	−9,119	—
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	563	−293	23	−410	−133
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	1,372	6,409	−5,864	4,606	14

Filings

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Insiders

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Holdings (13F)

Portfolio as of 2026-03-31 · 14 positions

Reported AUM

$349.43M

Holdings

Top sector

$349.43M

Top sectors

Sector	Value	% of portfolio
Uncategorized	$349.43M	100.0%

Top holdings

Issuer	Ticker	Shares	Value	%
MODERNA INC	—	2.31M	$117.26M	33.6%
PERSONALIS INC	—	14.04M	$89.47M	25.6%
KYMERA THERAPEUTICS INC	—	772.2K	$64.31M	18.4%
ENTRADA THERAPEUTICS INC	—	1.74M	$21.95M	6.3%
EIKON THERAPEUTICS INC	—	1.67M	$17.63M	5.0%
AKTIS ONCOLOGY INC	—	952.8K	$17.05M	4.9%
ALECTOR INC	—	3.55M	$7.62M	2.2%
SUTRO BIOPHARMA INC	—	272.4K	$6.78M	1.9%
EVAXION BIOTECH A/S	—	1.21M	$4.52M	1.3%
VIRIDIAN THERAPEUTICS INC	—	93.4K	$1.83M	0.5%

Frequently asked questions

What is Merck & Co., Inc.'s CIK number?

Merck & Co., Inc.'s SEC CIK number is 0000310158 (310158). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Merck & Co., Inc.'s SEC filings?

All of Merck & Co., Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Merck & Co., Inc. last report earnings?

Merck & Co., Inc. (MRK) most recently filed an earnings 8-K with the SEC on Apr 30, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001104659-26-052081). This is Merck & Co., Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Merck & Co., Inc.'s most recent earnings 8-K?

Merck & Co., Inc.'s latest earnings 8-K (Item 2.02) was filed Apr 30, 2026 under accession 0001104659-26-052081. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Merck & Co., Inc.'s latest earnings 8-K →
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