Global healthcare company providing medicines and vaccines for oncology, vaccines, hospital acute care, and animal health including Keytruda.
Profile & Fundamentals
Merck &: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Merck & Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
Merck & Co., Inc. operates as a healthcare company worldwide. It offers human health pharmaceutical for various areas under the Keytruda, Keytruda Qlex, Welireg, Gardasil, ProQuad, M-M-R II, Varivax, Vaxneuvance, Capvaxive, RotaTeq, Pneumovax 23, Bridion, Prevymis, Dificid, Zerbaxa, Winrevair, Adempas/ Verquvo, Ohtuvayre, Lagevrio, Isentress/Isentress HD, Delstrigo, Pifeltro, Belsomra, Januvia, and Janumet brands. The company also provides veterinary pharmaceuticals, vaccines and health management solutions and services, such as livestock products under the Nuflor, Bovilis/Vista, Bovilis Cryptium, Banamine, Estrumate, Matrix, Resflor, Zuprevo, Revalor, Safe-Guard, M+Pac, Porcilis, Circumvent, Nobilis/Innovax, Paracox and Coccivac, Exzolt, Slice, Imvixa, Clynav, Aquavac/Norvax, Aquaflor, Flexolt brands; Allflex Livestock Intelligence solutions; and companion animal products under the Bravecto One-Month, Bravecto Injectable/Quantum, Bravecto TriUNO, Bravecto Plus, Sentinel Spectrum, Sentinel Flavor Tabs, Numelvi, Optimmune, Nobivac NXT, GilvetMab, Otomax, Mometamax, Mometamax Ultra, Posatex, Caninsulin/Vetsulin, Panacur, Safeguard, Regumate, Prestige, Scalibor/Exspot, Sure Petcare, and Home Again brands. It has development and commercialization agreement for three of Daiichi Sankyo's deruxtecan ADC candidates; AstraZeneca PLC to co-development and co-commercialize AstraZeneca's Lynparza products for multiple cancer types; licensed to develop, manufacture and commercialize LM-299, a novel investigational PD-1/VEGF bispecific antibody from LaNova; and collaboration agreement with Eisai Co., Ltd., Bayer AG, and Ridgeback Biotherapeutics LP, as well Moderna, Inc. Merck & Co., Inc. has strategic collaboration with Infinimmune, Inc. to discover and develop antibodies against multiple therapeutic targets. The company was founded in 1891 and is headquartered in Rahway, New Jersey.
Company profile record
Merck & Company Inc
Common Stock · Health Care · Pharmaceuticals
Company
- Company / asset
- Merck & Company Inc
- Security type
- Common Stock
- Sector
- Health Care
- Industry
- Pharmaceuticals
- HQ
- 🇺🇸 United States
- Head office
- 126 East Lincoln Avenue, Rahway, NJ, United States, 07065
Leadership & scale
- Chief executive
- Mr. Robert M. Davis J.D.
- CEO year born
- 1967
- Full-time employees
- 73K
- Fiscal year end
- December
- IPO date
- 1978-01-13
Fundamentals snapshot
- Market Cap
- USD 350.9B
- P/E
- 110.6x
- Revenue (Q2 26)
- USD 16.6B
- Profit (Q2 26)
- USD -1.3B
- Dividend Yield
- 1.7%
- Revenue (FY 25)
- USD 64.9B
- Shares in public float
- 2.5B
- Insider ownership
- 0.06%
Reporting & identifiers
- Symbol
- MRK.NYSE
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US58933Y1055
- Asset ID
- equity_45e92af8-55ef-5e9b-ac6d-cc387d5a8b26
Ownership
Shares Outstanding
Latest: 2.5B | Max: 2.7B | Min: 2.5B
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
99.64%
2.5B latest reported shares
Insider Ownership
0.06%
Latest reported insider stake
Short Float
0.01%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 2,715,000,000 |
| 2018-01-01 | 2,634,000,000 |
| 2019-01-01 | 2,559,000,000 |
| 2020-01-01 | 2,540,000,000 |
| 2021-01-01 | 2,535,000,000 |
| 2022-01-01 | 2,548,000,000 |
| 2023-01-01 | 2,554,166,700 |
| 2024-01-01 | 2,541,000,000 |
| 2025-01-01 | 2,488,000,000 |
| 2026-01-01 | 2,472,000,000 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| BlackRock Inc | 225,830,330 | 9.15% | 2026-03-31 |
| Vanguard Capital Management, LLC | 160,987,624 | 6.53% | 2026-03-31 |
| State Street Corp | 119,325,673 | 4.84% | 2026-03-31 |
| Wellington Management Company LLP | 86,249,283 | 3.5% | 2026-06-30 |
| Vanguard MStar Total Stk Mkt Idx Invest | 78,496,893 | 3.18% | 2026-08-31 |
| Vanguard Portfolio Management, LLC | 67,304,305 | 2.73% | 2026-03-31 |
| Vanguard 500 Index Investor | 65,609,642 | 2.66% | 2026-08-31 |
| Geode Capital Management, LLC | 59,558,154 | 2.41% | 2026-03-31 |
| JPMorgan Chase & Co | 52,972,983 | 2.15% | 2026-03-31 |
| Charles Schwab Investment Management Inc | 49,765,225 | 2.02% | 2026-03-31 |
| Morgan Stanley - Brokerage Accounts | 47,632,487 | 1.93% | 2026-03-31 |
| FMR Inc | 44,516,010 | 1.8% | 2026-03-31 |
| Fisher Asset Management, LLC | 38,516,263 | 1.56% | 2026-06-30 |
| NORGES BANK | 36,983,784 | 1.5% | 2026-06-30 |
| Schwab US Dividend Equity ETF™ | 36,145,409 | 1.47% | 2026-08-29 |
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Reported accounting numbers show a confusing contrast between headline losses and underlying business strength. In early 2026, the company posted quarterly net losses despite sales rising five percent to sixteen point six billion dollars. These paper losses occurred because accounting rules required writing off fourteen point seven billion dollars immediately for acquiring biotech innovators Cidara and Terns. Beneath this accounting noise, everyday financial performance remains exceptionally strong. The core business generated over sixteen billion dollars in trailing free cash flow, supported by growing Keytruda sales and the fast uptake of Winrevair. As one-time acquisition write-offs end, reported corporate earnings will quickly realign with underlying cash generation.
Reported accounting numbers show a confusing contrast between headline losses and underlying business strength. In early 2026, the company posted quarterly net losses despite sales rising five percent to sixteen point six billion dollars. These paper losses occurred because accounting rules required writing off fourteen point seven billion dollars immediately for acquiring biotech innovators Cidara and Terns. Beneath this accounting noise, everyday financial performance remains exceptionally strong. The core business generated over sixteen billion dollars in trailing free cash flow, supported by growing Keytruda sales and the fast uptake of Winrevair. As one-time acquisition write-offs end, reported corporate earnings will quickly realign with underlying cash generation.
Revenue, Net Income, and Free Cash Flow
Latest: USD 64.9B | Max: USD 64.9B | Min: USD 365.0M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 14x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Gross profit margins remain structurally elite above seventy-two percent, demonstrating formidable pricing power in complex cancer medicines and specialized vaccines. While reported operating margins turned temporarily negative due to upfront acquisition charges, underlying operational profit margins consistently exceed thirty-five percent. However, this exceptional profitability faces long-term structural pressure. As cheaper biosimilars enter the market post-2028 and newer therapies carry higher partner royalties, corporate gross margins will gradually compress toward sixty-five percent, establishing a lower steady-state margin baseline for the next decade.
Gross profit margins remain structurally elite above seventy-two percent, demonstrating formidable pricing power in complex cancer medicines and specialized vaccines. While reported operating margins turned temporarily negative due to upfront acquisition charges, underlying operational profit margins consistently exceed thirty-five percent. However, this exceptional profitability faces long-term structural pressure. As cheaper biosimilars enter the market post-2028 and newer therapies carry higher partner royalties, corporate gross margins will gradually compress toward sixty-five percent, establishing a lower steady-state margin baseline for the next decade.
Profitability Margins
Latest: 72.0% | Max: 76.3% | Min: 0.6%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
72.0%
Gross profit / revenue
Operating Margin
36.2%
Operating income / revenue
Net Margin
28.1%
Net income / revenue
FCF Margin
19.0%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 39,807,000,000 | 3,920,000,000 | 8,762,000,000 |
| 2017-12-31 | 40,122,000,000 | 2,394,000,000 | 4,563,000,000 |
| 2018-12-31 | 42,294,000,000 | 6,220,000,000 | 8,307,000,000 |
| 2019-12-31 | 39,121,000,000 | 9,843,000,000 | 9,967,000,000 |
| 2020-12-31 | 41,518,000,000 | 7,067,000,000 | 5,569,000,000 |
| 2021-12-31 | 48,704,000,000 | 13,049,000,000 | 9,661,000,000 |
| 2022-12-31 | 59,283,000,000 | 14,519,000,000 | 14,707,000,000 |
| 2023-12-31 | 60,115,000,000 | 365,000,000 | 9,143,000,000 |
| 2024-12-31 | 64,168,000,000 | 17,117,000,000 | 18,096,000,000 |
| 2025-12-31 | 64,926,000,000 | 18,254,000,000 | 12,360,000,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
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| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 14.35 | Trailing four quarters |
| 2024-12-31 | 14.77 | Trailing four quarters |
| 2023-12-31 | 762.89 | Trailing four quarters |
| 2022-12-31 | 19.47 | Annual net income |
| 2021-12-31 | 14.89 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 64.75 | 13.81 | 9.85 | 22.01 |
| 2017-12-31 | 67.82 | 16.94 | 5.97 | 11.37 |
| 2018-12-31 | 68.06 | 21.12 | 14.71 | 19.64 |
| 2019-12-31 | 69.29 | 20.26 | 25.16 | 25.48 |
| 2020-12-31 | 67.2 | 13.36 | 17.02 | 13.41 |
| 2021-12-31 | 72.02 | 27.1 | 26.79 | 19.84 |
| 2022-12-31 | 70.63 | 30.84 | 24.49 | 24.81 |
| 2023-12-31 | 73.17 | 4.91 | 0.61 | 15.21 |
| 2024-12-31 | 76.32 | 31.51 | 26.68 | 28.2 |
| 2025-12-31 | 71.98 | 36.17 | 28.12 | 19.04 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-29.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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