Merck & Co Inc

NYSE : MRK
USA·Healthcare·Drug Manufacturers
$145.95
+2.50 (+1.92%)Oct 16 close
Market Cap
$360.85B
Enterprise Value
$407.66B
P/E (TTM)
116.76
P/B
8.60
Net Cash / (Debt)
−$46.77B
52-Week Range
$82 — $156
5-Year Range
$72 — $156
Avg Volume (3M)
10.15M
ListingsNYSELIMLTSXTERXSGO

Merck & Co. (MRK) is a global pharmaceutical company that develops and sells prescription drugs, vaccines, and animal health products.

Its biggest revenue driver is Keytruda (pembrolizumab), a cancer immunotherapy used across dozens of tumor types. Beyond oncology, Merck sells treatments for cardiovascular and metabolic conditions, infectious diseases, and HIV. Its vaccine portfolio includes Gardasil (HPV prevention) and a range of pediatric vaccines. A separate animal health segment sells medicines and vaccines for livestock and pets.

Customers are patients, hospitals, and healthcare systems worldwide. The company earns money primarily through drug sales, with the U.S. accounting for roughly half of human health revenue.

Employees75,000IPOApr 20, 1949SIC2834HQ126 East Lincoln Avenue, Rahway, NJ, USA, 07065
to

Financials

Profitability

Metric
Current
Margins
Gross Margin
73.0%
Operating Margin
10.5%
EBITDA Margin
21.6%
Net Margin
4.8%
OCF Margin
30.0%
FCF Margin
24.1%
Returns on Capital
ROE
6.6%
ROA
2.5%
ROIC
4.0%
ROCE
7.6%
ROC (Greenblatt)
26.3%
3Y ROIIC
14.2%
Consistency
Years Profitable / 10Y
10

Valuation

Metric
Current
Earnings Multiples
P/E (TTM)
116.76
Forward P/E
52.90
P/E ex-NRI
45.47
Shiller P/E (CAPE)
36.58
Cash Flow Multiples
P/FCF
22.56
P/OCF
18.15
P/Owner Earnings
136.40
FCF Yield
4.46%
Enterprise Value Multiples
EV / EBIT
53.01
EV / Forward EBIT
38.20
EV / EBITDA
28.30
EV / Forward EBITDA
25.52
EV / Revenue
6.12
EV / Forward Revenue
6.06
Asset / Sales
P/S
5.45
P/B
8.60
P/Tangible Book
—
Growth-Adjusted
PEG
2.88

Capital Returns

Metric
Current
Dividends
Dividend Yield (TTM)
2.30%
Forward Dividend Yield
2.33%
3Y Dividend Growth
5.4%
Payout Ratio
1.05
5Y Yield on Cost
3.35%
Buybacks & Dilution
3Y Buyback Ratio
0.80%
5Y Share Change
−1.3%
Combined
Shareholder Yield
0.13%

Balance Sheet

Metric
Current
Leverage
Debt / Equity
1.29
Gross Debt / EBITDA
3.74
Cash / Debt
0.13
Equity / Assets
0.32
Coverage
Interest Coverage
4.01
Short-Term Liquidity
Current Ratio
1.32
Quick Ratio
1.10
Cash Ratio
0.26
Composite Scores
Piotroski F-Score
5
Altman Z-Score
3.71

Split History

Date
Split
1999-02-17
2:1
1992-05-26
3:1
1988-05-26
3:1
1986-05-27
2:1
1972-06-01
2:1

Dividends

Ex-date
Amount
Pay date
2026-09-15
$0.85
2026-10-07
2026-06-15
$0.85
2026-07-08
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
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Transcripts

Date
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
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5-Step DuPont Analysis

ROE %
6.98%
Net Margin %
4.77%
Operating Margin %
10.49%
Operating Income
$6.99B
÷
Revenue
$66.57B
×
Tax Burden
0.5335
Net Income
$3.17B
÷
Pretax Income
$5.95B
×
Interest Burden
0.8515
Pretax Income
$5.95B
÷
Operating Income
$6.99B
×
Asset Turnover
0.54
Revenue
$66.57B
÷
Average Total Assets
$123.66B
Begin Total Assets
$117.52B
End Total Assets
$129.80B
×
Equity Multiplier
2.72
Avg Total Assets
$123.66B
÷
Avg Stockholders Equity
$45.46B
Begin Equity
$48.99B
End Equity
$41.93B

Top institutional holders

Q2 2026
HolderShares% OwnedChg. shares
BlackRock, Inc.227.0M9.18%+1.2M
VANGUARD CAPITAL MANAGEMENT LLC161.3M6.52%+335.6K
STATE STREET CORP120.4M4.87%+1.1M
WELLINGTON MANAGEMENT GROUP LLP86.2M3.49%+1.9M
VANGUARD PORTFOLIO MANAGEMENT LLC67.7M2.74%+434.7K
GEODE CAPITAL MANAGEMENT, LLC60.7M2.46%+1.2M
CHARLES SCHWAB INVESTMENT MANAGEMENT INC54.4M2.20%+4.6M
MORGAN STANLEY48.6M1.97%+1.0M
FMR LLC45.4M1.84%+924.3K
JPMORGAN CHASE & CO43.9M1.78%-9.1M
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Top insider holdings

as reported
InsiderShares held% Owned
Davis Robert MOfficer450.4K0.0182%
DeLuca Richard R.Officer110.2K0.0045%
Li Dean YOfficer94.4K0.0038%
Litchfield CarolineOfficer92.3K0.0037%
Zachary JenniferOfficer45.5K0.0018%
Guindo ChirfiOfficer36.6K0.0015%
Williams David MichaelOfficer31.7K0.0013%
Romanelli JosephOfficer28.7K0.0012%
Oosthuizen Johannes JacobusOfficer21.9K0.0009%
Maraldo David R.Officer18.2K0.0007%
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Recent insider activity

through Aug 13, 2026
InsiderActionSharesDate
Guindo ChirfiOfficerOpen-Market or Private Sale-10.0KAug 13, 2026
Zachary JenniferOfficerOption Exercise (Rule 16b-3 Exempt)+41.5KAug 12, 2026
Zachary JenniferOfficerOption Exercise (Rule 16b-3 Exempt)+13.4KAug 12, 2026
Zachary JenniferOfficerOpen-Market or Private Sale-80.3KAug 12, 2026
DeLuca Richard R.OfficerOpen-Market or Private Sale-11.1KAug 12, 2026
DeLuca Richard R.OfficerOpen-Market or Private Sale-600Aug 12, 2026
DeLuca Richard R.OfficerOpen-Market or Private Sale-7.4KAug 11, 2026
DeLuca Richard R.OfficerOpen-Market or Private Sale-5.4KAug 11, 2026
DeLuca Richard R.OfficerOpen-Market or Private Sale-20.8KAug 10, 2026
DeLuca Richard R.OfficerOpen-Market or Private Sale-805Aug 6, 2026
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