Merck & Co., Inc.
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MRK Q2 2025 request
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Pick an endpoint and run the request.Income Statement
| Metric | Q2 2025 | Q2 2024 | YoY |
|---|---|---|---|
| Revenue | 15,806 | 16,112 | -1.9% |
Show Product Lines breakouts |
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| Adempas · Bayer AG | 80 | 72 | +11.1% |
| Adempas · Pharmaceutical | 80 | 72 | +11.1% |
| Adempas · Pharmaceutical | 80 | 72 | +11.1% |
| Alliance revenue - Adempas/Verquvo · Pharmaceutical | 108 | 98 | +10.2% |
| Alliance revenue - Adempas/Verquvo · Pharmaceutical | 15 | 8 | +87.5% |
| Alliance revenue - Adempas/Verquvo · Pharmaceutical | 123 | 106 | +16.0% |
| Alliance revenue - Lenvima · Pharmaceutical | 183 | 177 | +3.4% |
| Alliance revenue - Lenvima · Pharmaceutical | 83 | 73 | +13.7% |
| Alliance revenue - Lenvima · Pharmaceutical | 265 | 249 | +6.4% |
| Alliance revenue - Lynparza · Pharmaceutical | 174 | 153 | +13.7% |
| Alliance revenue - Lynparza · Pharmaceutical | 195 | 165 | +18.2% |
| Alliance revenue - Lynparza · Pharmaceutical | 370 | 317 | +16.7% |
| Alliance Revenue - Reblozyl · Pharmaceutical | 88 | 75 | +17.3% |
| Alliance Revenue - Reblozyl · Pharmaceutical | 19 | 15 | +26.7% |
| Alliance Revenue - Reblozyl · Pharmaceutical | 107 | 90 | +18.9% |
| Belsomra · Pharmaceutical | 18 | 19 | -5.3% |
| Belsomra · Pharmaceutical | 21 | 34 | -38.2% |
| Belsomra · Pharmaceutical | 40 | 53 | -24.5% |
| Bridion · Pharmaceutical | 411 | 351 | +17.1% |
| Bridion · Pharmaceutical | 50 | 104 | -51.9% |
| Bridion · Pharmaceutical | 461 | 455 | +1.3% |
| Capvaxive · Pharmaceutical | 129 | — | — |
| Capvaxive · Pharmaceutical | 129 | — | — |
| Companion Animal · Animal Health | 309 | 287 | +7.7% |
| Companion Animal · Animal Health | 376 | 358 | +5.0% |
| Companion Animal · Animal Health | 685 | 645 | +6.2% |
| Delstrigo · Pharmaceutical | 14 | 14 | 0.0% |
| Delstrigo · Pharmaceutical | 70 | 45 | +55.6% |
| Delstrigo · Pharmaceutical | 83 | 60 | +38.3% |
| Dificid · Pharmaceutical | 83 | 79 | +5.1% |
| Dificid · Pharmaceutical | 13 | 12 | +8.3% |
| Dificid · Pharmaceutical | 96 | 92 | +4.3% |
| Gardasil/Gardasil 9 · Pharmaceutical | 545 | 536 | +1.7% |
| Gardasil/Gardasil 9 · Pharmaceutical | 581 | 1,941 | -70.1% |
| Gardasil/Gardasil 9 · Pharmaceutical | 1,126 | 2,478 | -54.6% |
| Isentress/Isentress HD · Pharmaceutical | 48 | 43 | +11.6% |
| Isentress/Isentress HD · Pharmaceutical | 38 | 46 | -17.4% |
| Isentress/Isentress HD · Pharmaceutical | 86 | 89 | -3.4% |
| Janumet · Pharmaceutical | 68 | 17 | +300.0% |
| Janumet · Pharmaceutical | 184 | 208 | -11.5% |
| Janumet · Pharmaceutical | 251 | 224 | +12.1% |
| Januvia · Pharmaceutical | 216 | 177 | +22.0% |
| Januvia · Pharmaceutical | 155 | 227 | -31.7% |
| Januvia · Pharmaceutical | 372 | 405 | -8.1% |
| Keytruda · Pharmaceutical | 4,749 | 4,412 | +7.6% |
| Keytruda · Pharmaceutical | 3,207 | 2,858 | +12.2% |
| Keytruda · Pharmaceutical | 7,956 | 7,270 | +9.4% |
| Lagevrio · Pharmaceutical | 30 | 15 | +100.0% |
| Lagevrio · Pharmaceutical | 52 | 95 | -45.3% |
| Lagevrio · Pharmaceutical | 83 | 110 | -24.5% |
| Lagevrio · Ridgeback Biotherapeutics LP | 83 | 110 | -24.5% |
| Livestock · Animal Health | 190 | 168 | +13.1% |
| Livestock · Animal Health | 771 | 669 | +15.2% |
| Livestock · Animal Health | 961 | 837 | +14.8% |
| Other pharmaceutical · Pharmaceutical | 136 | 190 | -28.4% |
| Other pharmaceutical · Pharmaceutical | 450 | 430 | +4.7% |
| Other pharmaceutical · Pharmaceutical | 584 | 618 | -5.5% |
| Pifeltro · Pharmaceutical | 25 | 27 | -7.4% |
| Pifeltro · Pharmaceutical | 16 | 12 | +33.3% |
| Pifeltro · Pharmaceutical | 41 | 39 | +5.1% |
| Pneumovax 23 · Pharmaceutical | 5 | 11 | -54.5% |
| Pneumovax 23 · Pharmaceutical | 33 | 48 | -31.2% |
| Pneumovax 23 · Pharmaceutical | 38 | 59 | -35.6% |
| Prevymis · Pharmaceutical | 115 | 90 | +27.8% |
| Prevymis · Pharmaceutical | 113 | 98 | +15.3% |
| Prevymis · Pharmaceutical | 228 | 188 | +21.3% |
| ProQuad/M-M-R II/Varivax · Pharmaceutical | 481 | 490 | -1.8% |
| ProQuad/M-M-R II/Varivax · Pharmaceutical | 128 | 127 | +0.8% |
| ProQuad/M-M-R II/Varivax · Pharmaceutical | 609 | 617 | -1.3% |
| RotaTeq · Pharmaceutical | 60 | 107 | -43.9% |
| RotaTeq · Pharmaceutical | 61 | 56 | +8.9% |
| RotaTeq · Pharmaceutical | 121 | 163 | -25.8% |
| Vaxneuvance · Pharmaceutical | 136 | 99 | +37.4% |
| Vaxneuvance · Pharmaceutical | 93 | 90 | +3.3% |
| Vaxneuvance · Pharmaceutical | 229 | 189 | +21.2% |
| Verquvo · Bayer AG | 11 | 9 | +22.2% |
| Welireg · Pharmaceutical | 138 | 116 | +19.0% |
| Welireg · Pharmaceutical | 24 | 10 | +140.0% |
| Welireg · Pharmaceutical | 162 | 126 | +28.6% |
| Winrevair · Pharmaceutical | 323 | 70 | +361.4% |
| Winrevair · Pharmaceutical | 336 | 70 | +380.0% |
| Winrevair · Pharmaceutical | 12 | — | — |
| Zerbaxa · Pharmaceutical | 45 | 33 | +36.4% |
| Zerbaxa · Pharmaceutical | 29 | 28 | +3.6% |
| Zerbaxa · Pharmaceutical | 74 | 62 | +19.4% |
Show Business Segments breakouts |
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| Animal Health · Non Us | 1,147 | 1,027 | +11.7% |
| Animal Health · Operating Segments | 1,646 | 1,482 | +11.1% |
| Animal Health · US | 499 | 455 | +9.7% |
| Pharmaceutical · Non Us | 5,722 | 7,009 | -18.4% |
| Pharmaceutical · Operating Segments | 14,050 | 14,408 | -2.5% |
| Pharmaceutical · US | 8,328 | 7,399 | +12.6% |
Show Geography breakouts |
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| Asia Pacific | 785 | 748 | +4.9% |
| CN | 446 | 1,817 | -75.5% |
| EMEA | 3,659 | 3,515 | +4.1% |
| JP | 626 | 686 | -8.7% |
| Latin America | 859 | 858 | +0.1% |
| Non Us | 6,969 | 8,236 | -15.4% |
| Non Us · Corporate Non Segment | 100 | 200 | -50.0% |
| Non Us · Operating Segments | 6,869 | 8,036 | -14.5% |
| Other | 595 | 612 | -2.8% |
| US | 8,836 | 7,876 | +12.2% |
| US · Corporate Non Segment | 9 | 22 | -59.1% |
| US · Operating Segments | 8,827 | 7,854 | +12.4% |
Show Equity Components breakouts |
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| Accumulated Gain Loss Cash Flow Hedge Including Noncontrolling Interest · Foreign Exchange Contract | -23 | 54 | -142.6% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 110 | 222 | -50.5% |
| Operating Segments | 15,696 | 15,890 | -1.2% |
Show Counterparty Name breakouts |
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| Bayer AG · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 214 | 187 | +14.4% |
| Cost of Revenue | 3,557 | 3,745 | -5.0% |
Show Business Segments breakouts |
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| Animal Health · Operating Segments | 659 | 612 | +7.7% |
| Pharmaceutical · Operating Segments | 1,601 | 1,708 | -6.3% |
Show Counterparty Name breakouts |
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| AstraZeneca · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 86 | 82 | +4.9% |
| Bayer AG · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 61 | 61 | 0.0% |
| Eisai · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 60 | 60 | 0.0% |
| Ridgeback Biotherapeutics LP · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 44 | 96 | -54.2% |
| Research & Development | 4,048 | 3,500 | +15.7% |
Show Business Segments breakouts |
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| Animal Health · Operating Segments | 110 | 91 | +20.9% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 3,844 | 3,360 | +14.4% |
Show Counterparty Name breakouts |
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| AstraZeneca · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 16 | 18 | -11.1% |
| Bayer AG · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 20 | 28 | -28.6% |
| Daiichi Sankyo · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 193 | 65 | +196.9% |
| Eisai · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 3 | 6 | -50.0% |
| Moderna, Inc. · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 90 | 93 | -3.2% |
Show Asset Acquisition breakouts |
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| HRS-5346 , Jiangsu Hengrui Pharmaceuticals Co., Ltd. | 200 | — | — |
| Selling, General & Administrative | 2,649 | 2,739 | -3.3% |
Show Business Segments breakouts |
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| Animal Health · Operating Segments | 284 | 270 | +5.2% |
| Pharmaceutical · Operating Segments | 1,456 | 1,514 | -3.8% |
Show Counterparty Name breakouts |
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| AstraZeneca · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 40 | 43 | -7.0% |
| Bayer AG · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 29 | 26 | +11.5% |
| Daiichi Sankyo · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 4 | 14 | -71.4% |
| Eisai · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 35 | 41 | -14.6% |
| Moderna, Inc. · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 6 | 4 | +50.0% |
| Ridgeback Biotherapeutics LP · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 14 | 16 | -12.5% |
| Interest Expense | 305 | 310 | -1.6% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 305 | 310 | -1.6% |
| Interest Income | 69 | 69 | 0.0% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 69 | 69 | 0.0% |
| Other Non-Operating Income (Expense) | -7 | 42 | -116.7% |
Show Business Segments breakouts |
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| Pharmaceutical · Operating Segments | 21 | 14 | +50.0% |
| Income Before Taxes | 4,999 | 6,006 | -16.8% |
Show Business Segments breakouts |
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| Animal Health · Operating Segments | 593 | 508 | +16.7% |
| Pharmaceutical · Operating Segments | 11,014 | 11,200 | -1.7% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 30 | 129 | -76.7% |
| Operating Segments | 11,607 | 11,708 | -0.9% |
| Income Tax Expense (Benefit) | 571 | 545 | +4.8% |
| Net Income | 4,428 | 5,461 | -18.9% |
| Net Income | 4,427 | 5,455 | -18.8% |
Show Equity Components breakouts |
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| Retained Earnings | 4,427 | 5,455 | -18.8% |
| Comprehensive Income | 3,971 | 5,368 | -26.0% |
| Other Comprehensive Income | -456 | -87 | -424.1% |
| EPS (Basic) | 1.76 | 2.15 | -18.1% |
| EPS (Diluted) | 1.76 | 2.14 | -17.8% |
| Wtd Avg Shares (Basic) | 2,510 | 2,534 | -0.9% |
| Wtd Avg Shares (Diluted) | 2,513 | 2,544 | -1.2% |
| Net Income Loss Attributable To Noncontrolling Interest | 1 | 6 | -83.3% |
Show Equity Components breakouts |
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| Noncontrolling Interest | 1 | 6 | -83.3% |
| Net Income Loss Available To Common Stockholders Basic | 4,427 | 5,455 | -18.8% |
| Foreign Currency Transaction Gain Loss Before Tax | 78 | 60 | +30.0% |
| Income Loss From Equity Method Investments (Q) | — | — | — |
Show Business Segments breakouts |
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| Pharmaceutical · Operating Segments | 29 | 29 | 0.0% |
Show Consolidation Items breakouts |
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| Operating Segments | 29 | 29 | 0.0% |
Balance Sheet
| Metric | Q2 2025 | Q2 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 8,007 | 11,304 | -29.2% |
| Marketable Securities (Current) | 615 | 50 | +1130.0% |
| Accounts Receivable | 11,846 | 11,642 | +1.8% |
| Inventory | 6,601 | 6,469 | +2.0% |
| Total Current Assets | 37,065 | — | — |
Show Counterparty Name breakouts |
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| AstraZeneca · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 411 | — | — |
| Bayer AG · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 173 | — | — |
| Eisai · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 265 | — | — |
| Non-Current Assets | |||
| Property, Plant & Equipment | 25,236 | — | — |
Show Geography breakouts |
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| Asia Pacific | 966 | — | — |
| CN | 204 | — | — |
| EMEA | 8,554 | — | — |
| JP | 144 | — | — |
| Latin America | 135 | — | — |
| Other | 51 | — | — |
| US | 15,182 | — | — |
| Goodwill | 21,591 | 21,161 | +2.0% |
| Intangible Assets (Q) | — | — | — |
Show Product Lines breakouts |
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| Adempas · Licenses and Other | 348 | 445 | -21.8% |
| Alliance revenue - Lenvima · Licenses and Other | 321 | 563 | -43.0% |
| Koselugo · Licenses and Other | 44 | — | — |
| Lynparza · Licenses and Other | 1 | 1.3 | -23.1% |
| Verquvo · Licenses and Other | 43 | 47 | -8.5% |
| Other Non-Current Assets | 17,664 | 12,702 | +39.1% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level1 · Fair Value Measurements Recurring | 499 | 746 | -33.1% |
Show Fair Value By Measurement Frequency breakouts |
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| Fair Value Measurements Recurring | 499 | 746 | -33.1% |
| Marketable Securities (Non-Current) | 774 | 357 | +116.8% |
| Total Assets | 117,523 | 112,630 | +4.3% |
| Current Liabilities | |||
| Accounts Payable | 3,892 | 3,519 | +10.6% |
| Total Current Liabilities | 26,037 | 26,060 | -0.1% |
| Debt Current | 1,434 | 3,071 | -53.3% |
| Non-Current Liabilities | |||
| Long-Term Debt | 33,968 | 34,717 | -2.2% |
| Deferred Tax Liabilities | 1,427 | 876 | +62.9% |
| Other Non-Current Liabilities | 7,031 | 7,329 | -4.1% |
| Stockholders' Equity | |||
| Common Stock | 1,788 | 1,788 | 0.0% |
| Retained Earnings | 68,477 | 60,187 | +13.8% |
| Accumulated Other Comprehensive Income | -5,421 | -5,361 | -1.1% |
| Total Stockholders' Equity | 48,993 | 43,582 | +12.4% |
| Total Liabilities & Equity | 117,523 | 112,630 | +4.3% |
Cash Flow Statement
| Metric | YTD Q2 2025 | YTD Q2 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Stock-Based Compensation | 411 | 379 | +8.4% |
| Deferred Income Taxes | -634 | -232 | -173.3% |
| Other Non-Cash Items | 444 | 174 | +155.2% |
| Net Cash from Operations | 5,793 | 8,727 | -33.6% |
| Investing Activities | |||
| Capital Expenditures | -2,092 | -1,652 | -26.6% |
| Other Investing Activities | -15 | -303 | +95.0% |
| Net Cash from Investing | -2,257 | -2,445 | +7.7% |
| Financing Activities | |||
| Share Repurchases | -2,509 | -373 | -572.7% |
| Net Cash from Financing | -9,311 | -1,598 | -482.7% |
| Supplemental | |||
| Interest Paid | 616 | 581 | +6.0% |
| Other Cash Flow | |||
| Net Change in Cash | -5,245 | 4,464 | -217.5% |
Values in millions USD. Source: SEC EDGAR 10-Q filing.