Merck & Co., Inc.
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MRK Q3 2025 request
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Pick an endpoint and run the request.Income Statement
| Metric | Q3 2025 | Q3 2024 | YoY |
|---|---|---|---|
| Revenue | 17,276 | 16,657 | +3.7% |
Show Product Lines breakouts |
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| Adempas · Bayer AG | 82 | 72 | +13.9% |
| Adempas · Pharmaceutical | 82 | 72 | +13.9% |
| Adempas · Pharmaceutical | 82 | 72 | +13.9% |
| Alliance revenue - Adempas/Verquvo · Pharmaceutical | 103 | 96 | +7.3% |
| Alliance revenue - Adempas/Verquvo · Pharmaceutical | 8 | 7 | +14.3% |
| Alliance revenue - Adempas/Verquvo · Pharmaceutical | 112 | 102 | +9.8% |
| Alliance revenue - Koselugo · Pharmaceutical | 214 | 39 | +448.7% |
| Alliance revenue - Lenvima · Pharmaceutical | 177 | 173 | +2.3% |
| Alliance revenue - Lenvima · Pharmaceutical | 81 | 78 | +3.8% |
| Alliance revenue - Lenvima · Pharmaceutical | 258 | 251 | +2.8% |
| Alliance revenue - Lynparza · Pharmaceutical | 184 | 161 | +14.3% |
| Alliance revenue - Lynparza · Pharmaceutical | 195 | 177 | +10.2% |
| Alliance revenue - Lynparza · Pharmaceutical | 379 | 337 | +12.5% |
| Alliance Revenue - Reblozyl · Pharmaceutical | 111 | 82 | +35.4% |
| Alliance Revenue - Reblozyl · Pharmaceutical | 25 | 18 | +38.9% |
| Alliance Revenue - Reblozyl · Pharmaceutical | 136 | 100 | +36.0% |
| Belsomra · Pharmaceutical | 28 | 20 | +40.0% |
| Belsomra · Pharmaceutical | 19 | 58 | -67.2% |
| Belsomra · Pharmaceutical | 47 | 78 | -39.7% |
| Bridion · Pharmaceutical | 392 | 339 | +15.6% |
| Bridion · Pharmaceutical | 47 | 81 | -42.0% |
| Bridion · Pharmaceutical | 439 | 420 | +4.5% |
| Capvaxive · Pharmaceutical | 238 | 47 | +406.4% |
| Capvaxive · Pharmaceutical | 244 | 47 | +419.1% |
| Capvaxive · Pharmaceutical | 7 | — | — |
| Companion Animal · Animal Health | 291 | 293 | -0.7% |
| Companion Animal · Animal Health | 301 | 307 | -2.0% |
| Companion Animal · Animal Health | 592 | 601 | -1.5% |
| Delstrigo · Pharmaceutical | 13 | 15 | -13.3% |
| Delstrigo · Pharmaceutical | 64 | 50 | +28.0% |
| Delstrigo · Pharmaceutical | 77 | 65 | +18.5% |
| Dificid · Pharmaceutical | 30 | 83 | -63.9% |
| Dificid · Pharmaceutical | 13 | 13 | 0.0% |
| Dificid · Pharmaceutical | 43 | 96 | -55.2% |
| Gardasil/Gardasil 9 · Pharmaceutical | 1,154 | 1,020 | +13.1% |
| Gardasil/Gardasil 9 · Pharmaceutical | 595 | 1,285 | -53.7% |
| Gardasil/Gardasil 9 · Pharmaceutical | 1,749 | 2,306 | -24.2% |
| Isentress/Isentress HD · Pharmaceutical | 44 | 54 | -18.5% |
| Isentress/Isentress HD · Pharmaceutical | 37 | 48 | -22.9% |
| Isentress/Isentress HD · Pharmaceutical | 82 | 102 | -19.6% |
| Janumet · Pharmaceutical | 78 | 15 | +420.0% |
| Janumet · Pharmaceutical | 165 | 190 | -13.2% |
| Janumet · Pharmaceutical | 243 | 204 | +19.1% |
| Januvia · Pharmaceutical | 258 | 67 | +285.1% |
| Januvia · Pharmaceutical | 124 | 211 | -41.2% |
| Januvia · Pharmaceutical | 382 | 278 | +37.4% |
| Keytruda · Pharmaceutical | 4,879 | 4,500 | +8.4% |
| Keytruda · Pharmaceutical | 3,263 | 2,929 | +11.4% |
| Keytruda · Pharmaceutical | 8,142 | 7,429 | +9.6% |
| Lagevrio · Pharmaceutical | 24 | 84 | -71.4% |
| Lagevrio · Pharmaceutical | 114 | 299 | -61.9% |
| Lagevrio · Pharmaceutical | 138 | 383 | -64.0% |
| Lagevrio · Ridgeback Biotherapeutics LP | 138 | 383 | -64.0% |
| Livestock · Animal Health | 213 | 194 | +9.8% |
| Livestock · Animal Health | 811 | 692 | +17.2% |
| Livestock · Animal Health | 1,023 | 886 | +15.5% |
| Other pharmaceutical · Pharmaceutical | 239 | 167 | +43.1% |
| Other pharmaceutical · Pharmaceutical | 716 | 466 | +53.6% |
| Other pharmaceutical · Pharmaceutical | 953 | 638 | +49.4% |
| Pifeltro · Pharmaceutical | 29 | 31 | -6.5% |
| Pifeltro · Pharmaceutical | 14 | 12 | +16.7% |
| Pifeltro · Pharmaceutical | 43 | 42 | +2.4% |
| Pneumovax 23 · Pharmaceutical | 10 | 19 | -47.4% |
| Pneumovax 23 · Pharmaceutical | 35 | 49 | -28.6% |
| Pneumovax 23 · Pharmaceutical | 45 | 68 | -33.8% |
| Prevymis · Pharmaceutical | 128 | 101 | +26.7% |
| Prevymis · Pharmaceutical | 138 | 107 | +29.0% |
| Prevymis · Pharmaceutical | 266 | 208 | +27.9% |
| ProQuad/M-M-R II/Varivax · Pharmaceutical | 554 | 572 | -3.1% |
| ProQuad/M-M-R II/Varivax · Pharmaceutical | 130 | 131 | -0.8% |
| ProQuad/M-M-R II/Varivax · Pharmaceutical | 684 | 703 | -2.7% |
| RotaTeq · Pharmaceutical | 141 | 131 | +7.6% |
| RotaTeq · Pharmaceutical | 63 | 62 | +1.6% |
| RotaTeq · Pharmaceutical | 204 | 193 | +5.7% |
| Vaxneuvance · Pharmaceutical | 134 | 137 | -2.2% |
| Vaxneuvance · Pharmaceutical | 91 | 103 | -11.7% |
| Vaxneuvance · Pharmaceutical | 226 | 239 | -5.4% |
| Verquvo · Bayer AG | 12 | 11 | +9.1% |
| Welireg · Pharmaceutical | 161 | 127 | +26.8% |
| Welireg · Pharmaceutical | 35 | 12 | +191.7% |
| Welireg · Pharmaceutical | 196 | 139 | +41.0% |
| Winrevair · Pharmaceutical | 335 | 147 | +127.9% |
| Winrevair · Pharmaceutical | 25 | 3 | +733.3% |
| Winrevair · Pharmaceutical | 360 | 149 | +141.6% |
| Zerbaxa · Pharmaceutical | 49 | 39 | +25.6% |
| Zerbaxa · Pharmaceutical | 32 | 26 | +23.1% |
| Zerbaxa · Pharmaceutical | 81 | 64 | +26.6% |
Show Business Segments breakouts |
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| Animal Health · Non Us | 1,112 | 999 | +11.3% |
| Animal Health · Operating Segments | 1,615 | 1,487 | +8.6% |
| Animal Health · US | 504 | 487 | +3.5% |
| Pharmaceutical · Non Us | 6,118 | 6,717 | -8.9% |
| Pharmaceutical · Operating Segments | 15,611 | 14,943 | +4.5% |
| Pharmaceutical · US | 9,493 | 8,227 | +15.4% |
Show Geography breakouts |
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| Asia Pacific | 764 | 823 | -7.2% |
| CN | 405 | 1,017 | -60.2% |
| EMEA | 3,680 | 3,583 | +2.7% |
| JP | 712 | 938 | -24.1% |
| Latin America | 905 | 936 | -3.3% |
| Non Us | 7,264 | 7,922 | -8.3% |
| Non Us · Corporate Non Segment | 34 | 206 | -83.5% |
| Non Us · Operating Segments | 7,230 | 7,716 | -6.3% |
| Other | 798 | 624 | +27.9% |
| US | 10,012 | 8,736 | +14.6% |
| US · Corporate Non Segment | 15 | 22 | -31.8% |
| US · Operating Segments | 9,997 | 8,714 | +14.7% |
Show Equity Components breakouts |
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| Accumulated Gain Loss Cash Flow Hedge Including Noncontrolling Interest · Foreign Exchange Contract | -85 | 48 | -277.1% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 50 | 227 | -78.0% |
| Operating Segments | 17,226 | 16,430 | +4.8% |
Show Counterparty Name breakouts |
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| Bayer AG · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 206 | 185 | +11.4% |
| Cost of Revenue | 3,855 | 4,080 | -5.5% |
Show Business Segments breakouts |
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| Animal Health · Operating Segments | 710 | 613 | +15.8% |
| Pharmaceutical · Operating Segments | 1,664 | 1,904 | -12.6% |
Show Counterparty Name breakouts |
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| AstraZeneca · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 84 | 82 | +2.4% |
| Bayer AG · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 71 | 59 | +20.3% |
| Daiichi Sankyo · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 67 | — | — |
| Eisai · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 60 | 60 | 0.0% |
| Ridgeback Biotherapeutics LP · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 81 | 204 | -60.3% |
| Research & Development | 4,234 | 5,862 | -27.8% |
Show Business Segments breakouts |
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| Animal Health · Operating Segments | 118 | 95 | +24.2% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 3,839 | 5,716 | -32.8% |
Show Counterparty Name breakouts |
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| AstraZeneca · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 3 | 19 | -84.2% |
| Bayer AG · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 11 | 27 | -59.3% |
| Daiichi Sankyo · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 110 | 94 | +17.0% |
| Eisai · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 2 | 4 | -50.0% |
| Moderna, Inc. · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 96 | 93 | +3.2% |
Show Asset Acquisition breakouts |
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| LaNova Medicines Ltd | 300 | — | — |
| Selling, General & Administrative | 2,633 | 2,731 | -3.6% |
Show Business Segments breakouts |
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| Animal Health · Operating Segments | 277 | 268 | +3.4% |
| Pharmaceutical · Operating Segments | 1,469 | 1,519 | -3.3% |
Show Counterparty Name breakouts |
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| AstraZeneca · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 31 | 39 | -20.5% |
| Bayer AG · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 22 | 29 | -24.1% |
| Daiichi Sankyo · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 8 | 5 | +60.0% |
| Eisai · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 33 | 40 | -17.5% |
| Moderna, Inc. · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 7 | 5 | +40.0% |
| Ridgeback Biotherapeutics LP · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 11 | 11 | 0.0% |
| Interest Expense | 327 | 330 | -0.9% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 327 | 330 | -0.9% |
| Interest Income | 96 | 127 | -24.4% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 96 | 127 | -24.4% |
| Other Non-Operating Income (Expense) | -238 | -162 | -46.9% |
Show Business Segments breakouts |
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| Animal Health · Operating Segments | 1 | -1 | +200.0% |
| Pharmaceutical · Operating Segments | 60 | 27 | +122.2% |
| Income Before Taxes | 6,745 | 4,090 | +64.9% |
Show Business Segments breakouts |
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| Animal Health · Operating Segments | 511 | 510 | +0.2% |
| Pharmaceutical · Operating Segments | 12,538 | 11,547 | +8.6% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 4 | 117 | -96.6% |
| Operating Segments | 13,049 | 12,057 | +8.2% |
| Income Tax Expense (Benefit) | 958 | 929 | +3.1% |
| Net Income | 5,787 | 3,161 | +83.1% |
| Net Income | 5,785 | 3,157 | +83.2% |
Show Equity Components breakouts |
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| Retained Earnings | 5,785 | 3,157 | +83.2% |
| Comprehensive Income | 6,004 | 3,147 | +90.8% |
| Other Comprehensive Income | 219 | -10 | +2290.0% |
| EPS (Basic) | 2.32 | 1.25 | +85.6% |
| EPS (Diluted) | 2.32 | 1.24 | +87.1% |
| Wtd Avg Shares (Basic) | 2,495 | 2,534 | -1.5% |
| Wtd Avg Shares (Diluted) | 2,498 | 2,541 | -1.7% |
| Net Income Loss Attributable To Noncontrolling Interest | 2 | 4 | -50.0% |
Show Equity Components breakouts |
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| Noncontrolling Interest | 2 | 4 | -50.0% |
| Net Income Loss Available To Common Stockholders Basic | 5,785 | 3,157 | +83.2% |
| Foreign Currency Transaction Gain Loss Before Tax | 56 | 33 | +69.7% |
| Income Loss From Equity Method Investments (Q) | — | — | — |
Show Business Segments breakouts |
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| Pharmaceutical · Operating Segments | 62 | 43 | +44.2% |
Show Consolidation Items breakouts |
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| Operating Segments | 62 | 43 | +44.2% |
Balance Sheet
| Metric | Q3 2025 | Q3 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 18,169 | 14,593 | +24.5% |
| Marketable Securities (Current) | 45 | — | — |
| Accounts Receivable | 12,120 | 11,381 | +6.5% |
| Inventory | 6,444 | 6,244 | +3.2% |
| Total Current Assets | 47,557 | 40,361 | +17.8% |
Show Counterparty Name breakouts |
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| AstraZeneca · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 436 | 375 | +16.3% |
| Bayer AG · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 168 | 166 | +1.2% |
| Eisai · Collaborative Arrangement Transaction With Party To Collaborative Arrangement | 258 | 252 | +2.4% |
| Non-Current Assets | |||
| Property, Plant & Equipment | 25,639 | — | — |
Show Geography breakouts |
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| Asia Pacific | 948 | — | — |
| CN | 208 | — | — |
| EMEA | 8,665 | — | — |
| JP | 147 | — | — |
| Latin America | 139 | — | — |
| Other | 50 | — | — |
| US | 15,482 | — | — |
| Goodwill | 21,587 | — | — |
| Intangible Assets (Q) | — | — | — |
Show Product Lines breakouts |
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| Adempas · Licenses and Other | 312 | 431 | -27.6% |
| Alliance revenue - Lenvima · Licenses and Other | 261 | 502 | -48.0% |
| Koselugo · Licenses and Other | 41 | — | — |
| Lynparza · Licenses and Other | 926 | 1.3 | +71130.8% |
| Verquvo · Licenses and Other | 41 | 47 | -12.8% |
| Other Non-Current Assets | 18,333 | — | — |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level1 · Fair Value Measurements Recurring | 529 | — | — |
Show Fair Value By Measurement Frequency breakouts |
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| Fair Value Measurements Recurring | 529 | — | — |
| Marketable Securities (Non-Current) | 1,117 | 575 | +94.3% |
| Total Assets | 129,546 | 117,532 | +10.2% |
| Current Liabilities | |||
| Accounts Payable | 4,147 | 3,586 | +15.6% |
| Total Current Liabilities | 28,628 | 29,586 | -3.2% |
| Debt Current | 1,405 | 3,149 | -55.4% |
| Non-Current Liabilities | |||
| Long-Term Debt | 39,969 | 34,982 | +14.3% |
| Deferred Tax Liabilities | 1,381 | 864 | +59.8% |
| Other Non-Current Liabilities | 7,661 | 7,540 | +1.6% |
| Stockholders' Equity | |||
| Common Stock | 1,788 | 1,788 | 0.0% |
| Retained Earnings | 72,231 | 61,384 | +17.7% |
| Accumulated Other Comprehensive Income | -5,202 | -5,371 | +3.1% |
| Total Stockholders' Equity | 51,850 | 44,502 | +16.5% |
| Total Liabilities & Equity | 129,546 | 117,532 | +10.2% |
Cash Flow Statement
| Metric | YTD Q3 2025 | YTD Q3 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Stock-Based Compensation | 615 | 574 | +7.1% |
| Deferred Income Taxes | -846 | -633 | -33.6% |
| Other Non-Cash Items | 393 | 611 | -35.7% |
| Net Cash from Operations | 13,615 | 18,018 | -24.4% |
| Investing Activities | |||
| Capital Expenditures | -3,079 | -2,435 | -26.4% |
| Other Investing Activities | 114 | -70 | +262.9% |
| Net Cash from Investing | -2,540 | -6,290 | +59.6% |
| Financing Activities | |||
| Share Repurchases | -3,832 | -817 | -369.0% |
| Net Cash from Financing | -6,673 | -4,023 | -65.9% |
| Supplemental | |||
| Interest Paid | 849 | 822 | +3.3% |
| Other Cash Flow | |||
| Net Change in Cash | 4,942 | 7,779 | -36.5% |
Values in millions USD. Source: SEC EDGAR 10-Q filing.