Merck & Co. financials
$149.28+0.40%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 | Q4 '24 Dec 31 | Q3 '24 Sep 30 | Q2 '24 Jun 30 | Q1 '24 Mar 31 | Q4 '23 Dec 31 | Q3 '23 Sep 30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.61B | $16.29B | $16.40B | $17.28B | $15.81B | $15.53B | $15.62B | $16.66B | $16.11B | $15.78B | $14.63B | $15.96B |
| Gross profit | $12.21B | $12.09B | $10.85B | $13.42B | $12.25B | $12.11B | $11.80B | $12.58B | $12.37B | $12.23B | $10.72B | $11.70B |
| Gross margin | 73.5% | 74.2% | 66.2% | 77.7% | 77.5% | 78.0% | 75.5% | 75.5% | 76.8% | 77.6% | 73.3% | 73.3% |
| Operating income | -$584.0M | -$3.40B | $3.85B | $6.51B | $4.99B | $5.87B | $4.30B | $3.93B | $6.05B | $5.64B | -$1.97B | $5.75B |
| Net income | -$1.33B | -$4.24B | $2.96B | $5.79B | $4.43B | $5.08B | $3.74B | $3.16B | $5.46B | $4.76B | -$1.23B | $4.75B |
| Net margin | −8.0% | −26.0% | 18.1% | 33.5% | 28.0% | 32.7% | 24.0% | 19.0% | 33.9% | 30.2% | −8.4% | 29.7% |
| Diluted EPS | $-0.54 | $-1.72 | $1.19 | $2.32 | $1.76 | $2.01 | $1.48 | $1.24 | $2.14 | $1.87 | $-0.48 | $1.86 |
| EBITDA | $1.15B | -$1.69B | $6.53B | $7.71B | $6.67B | $7.04B | $5.54B | $5.17B | $7.26B | $6.74B | -$749.0M | $6.89B |
| Operating cash flow | $5.37B | $3.92B | $2.86B | $7.82B | $3.29B | $2.50B | $3.45B | $9.29B | $5.64B | $3.09B | $246.0M | $7.72B |
| Free cash flow | $4.48B | $2.93B | $1.82B | $6.83B | $2.53B | $1.17B | $2.51B | $8.51B | $4.85B | $2.23B | -$743.0M | $6.82B |
| Diluted shares | 2,470.0M | 2,472.0M | 2,486.0M | 2,498.0M | 2,513.0M | 2,531.0M | 2,535.0M | 2,541.0M | 2,544.0M | 2,544.0M | 2,552.0M | 2,546.0M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $6.85B | $5.33B | $14.56B | $18.17B | $8.01B | $8.63B |
| Short-term investments | $292.0M | $375.0M | $0.00 | $45.0M | $615.0M | $599.0M |
| Total debt | $53.91B | $49.12B | $49.34B | $41.37B | $35.40B | $34.84B |
| Total assets | $129.80B | $128.69B | $136.87B | $129.55B | $117.52B | $115.12B |
| Total liabilities | $87.82B | $82.75B | $84.20B | $77.64B | $68.46B | $66.72B |
| Shareholders' equity | $41.98B | $45.93B | $52.66B | $51.91B | $49.06B | $48.40B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology