Merck makes pharmaceutical products to treat several conditions in a number of therapeutic areas, including cardiometabolic disease, cancer, and infections. Within cancer, the firm's immuno-oncology platform, led by Keytruda, is a major contributor to overall sales. The company also has a substantial vaccine business aimed at preventing pediatric diseases, as well as Gardasil for human papillomavirus. Additionally, Merck sells animal health-related drugs. From a geographical perspective, 47% of the company's sales are generated from US human health (pharmaceuticals and vaccines).
Employees75,000IPOJul 23, 2008SIC2834HQ126 East Lincoln Avenue, Rahway, NJ, USA, 07065
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Financials
Profitability
Metric
Current
Margins
Gross Margin
74.8%
Operating Margin
34.0%
EBITDA Margin
43.5%
Net Margin
28.1%
OCF Margin
25.3%
FCF Margin
19.0%
Returns on Capital
ROE
36.8%
ROA
14.8%
ROIC
22.4%
ROCE
23.4%
ROC (Greenblatt)
82.2%
3Y ROIIC
14.2%
Consistency
Years Profitable / 10Y
10
Valuation
Metric
Current
Earnings Multiples
P/E (TTM)
20.26
Forward P/E
28.56
P/E ex-NRI
16.44
Shiller P/E (CAPE)
35.05
Cash Flow Multiples
P/FCF
29.84
P/OCF
22.41
P/Owner Earnings
29.82
FCF Yield
3.39%
Enterprise Value Multiples
EV / EBIT
17.70
EV / Forward EBIT
21.92
EV / EBITDA
14.04
EV / Forward EBITDA
18.01
EV / Revenue
6.11
EV / Forward Revenue
5.92
Asset / Sales
P/S
5.68
P/B
6.94
P/Tangible Book
83.95
Growth-Adjusted
PEG
1.04
Capital Returns
Metric
Current
Dividends
Dividend Yield (TTM)
2.24%
Forward Dividend Yield
2.33%
3Y Dividend Growth
5.4%
Payout Ratio
0.37
5Y Yield on Cost
3.73%
Buybacks & Dilution
3Y Buyback Ratio
0.80%
5Y Share Change
−1.3%
Combined
Shareholder Yield
2.68%
Balance Sheet
Metric
Current
Leverage
Debt / Equity
0.94
Gross Debt / EBITDA
1.75
Cash / Debt
0.30
Equity / Assets
0.38
Coverage
Interest Coverage
16.30
Short-Term Liquidity
Current Ratio
1.54
Quick Ratio
1.30
Cash Ratio
0.51
Composite Scores
Piotroski F-Score
4
Altman Z-Score
3.94
Split History
Date
Split
No split history found.
Ex-date
Amount
Pay date
2026-03-16
$0.85
2026-04-07
2025-12-15
$0.85
2026-01-08
2025-09-15
$0.81
2025-10-07
2025-06-16
$0.81
2025-07-08
2025-03-17
$0.81
2025-04-07
2024-12-16
$0.81
2025-01-08
2024-09-16
$0.77
2024-10-07
2024-06-17
$0.77
2024-07-08
2024-03-14
$0.77
2024-04-05
2023-12-14
$0.77
2024-01-08
10 of 61
View allDate
Transcript
Type
2026-08-04
Q2 2026 Merck & Co Inc Earnings Call Transcript
Earnings Call
2026-08-03
Merck & Co Inc at Investor Event at AIDS Transcript
Analyst/Investor Call
2026-06-09
Merck & Co Inc at Goldman Sachs Healthcare Conference Transcript
Conference Presentations
2026-06-04
Merck & Co Inc at Jefferies Global Healthcare Conference in New York Transcript
Conference Presentations
2026-06-01
Merck & Co Inc Investor Event at ASCO Transcript
Analyst/Investor Call
2026-05-26
Merck & Co Inc Annual Shareholders Meeting Transcript
Shareholders and Annual Meetings
2026-04-30
Q1 2026 Merck & Co Inc Earnings Call Transcript
Earnings Call
2026-03-25
Merck & Co Inc to Acquire Terns Pharmaceuticals Inc Transcript
Company Actions
2026-03-03
Merck & Co Inc at TD Cowen Healthcare Conference Transcript
Conference Presentations
2026-02-03
Q4 2025 Merck & Co Inc Earnings Call Transcript
Earnings Call
10 of 103
5-Step DuPont Analysis
ROE %
36.91%
×
×
Net Margin %
28.08%
×
×
Operating Margin %
34.01%
Operating Income
$22.11B
÷
Revenue
$65.01B
×
Tax Burden
0.8665
Net Income
$18.25B
÷
Pretax Income
$21.07B
×
Interest Burden
0.9529
Pretax Income
$21.07B
÷
Operating Income
$22.11B
×
Asset Turnover
0.51
÷
Revenue
$65.01B
÷
Average Total Assets
$126.99B
Begin Total Assets
$117.11B
End Total Assets
$136.87B
×
Equity Multiplier
2.57
÷
Avg Total Assets
$126.99B
÷
Avg Stockholders Equity
$49.46B
Begin Equity
$46.31B
End Equity
$52.61B