# Merck & Co., Inc.: financial statements, quarterly

MRK · NYSE · CIK 310158 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/mrk.md) · [Financials](/companies/mrk/financials.md) · [Filings](/companies/mrk/filings.md) · [Insiders](/companies/mrk/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/mrk/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $bn | [16.0](/filings/0001628280-24-045689.md) | [14.6 d](/filings/0000310158-26-000063.md) | [15.8](/filings/0001628280-25-021834.md) | [16.1](/filings/0000310158-25-000014.md) | [16.7](/filings/0000310158-25-000059.md) | [15.6 d](/filings/0000310158-26-000063.md) | [15.5](/filings/0001628280-26-029802.md) | [15.8](/filings/0000310158-26-000212.md) | [17.3](/filings/0000310158-25-000059.md) | [16.4 d](/filings/0000310158-26-000063.md) | [16.3](/filings/0001628280-26-029802.md) | [16.6](/filings/0000310158-26-000212.md) |
| Cost of revenue | $bn | [4.3](/filings/0001628280-24-045689.md) | [3.9 d](/filings/0000310158-26-000063.md) | [3.5](/filings/0001628280-25-021834.md) | [3.7](/filings/0000310158-25-000014.md) | [4.1](/filings/0000310158-25-000059.md) | [3.8 d](/filings/0000310158-26-000063.md) | [3.4](/filings/0001628280-26-029802.md) | [3.6](/filings/0000310158-26-000212.md) | [3.9](/filings/0000310158-25-000059.md) | [5.6 d](/filings/0000310158-26-000063.md) | [4.2](/filings/0001628280-26-029802.md) | [4.4](/filings/0000310158-26-000212.md) |
| Research and development | $bn | [3.3](/filings/0001628280-24-045689.md) | [9.6 d](/filings/0000310158-26-000063.md) | [4.0](/filings/0001628280-25-021834.md) | [3.5](/filings/0000310158-25-000014.md) | [5.9](/filings/0000310158-25-000059.md) | [4.6 d](/filings/0000310158-26-000063.md) | [3.6](/filings/0001628280-26-029802.md) | [4.0](/filings/0000310158-26-000212.md) | [4.2](/filings/0000310158-25-000059.md) | [3.9 d](/filings/0000310158-26-000063.md) | [12.6](/filings/0001628280-26-029802.md) | [9.7](/filings/0000310158-26-000212.md) |
| Selling, general and administrative | $bn | [2.5](/filings/0001628280-24-045689.md) | [2.8 d](/filings/0000310158-26-000063.md) | [2.5](/filings/0001628280-25-021834.md) | [2.7](/filings/0000310158-25-000014.md) | [2.7](/filings/0000310158-25-000059.md) | [2.9 d](/filings/0000310158-26-000063.md) | [2.6](/filings/0001628280-26-029802.md) | [2.6](/filings/0000310158-26-000212.md) | [2.6](/filings/0000310158-25-000059.md) | [2.9 d](/filings/0000310158-26-000063.md) | [2.7](/filings/0001628280-26-029802.md) | [2.9](/filings/0000310158-26-000212.md) |
| Interest expense | $bn | [0.3](/filings/0001628280-23-036717.md) | [0.3 d](/filings/0001628280-24-006850.md) | [0.3](/filings/0001628280-24-020283.md) | [0.3](/filings/0000310158-25-000014.md) | [0.3](/filings/0000310158-25-000059.md) | [0.3 d](/filings/0000310158-26-000063.md) | [0.3](/filings/0001628280-26-029802.md) | [0.3](/filings/0000310158-26-000212.md) | [0.3](/filings/0000310158-25-000059.md) | [0.4 d](/filings/0000310158-26-000063.md) | [0.5](/filings/0001628280-26-029802.md) | [0.5](/filings/0000310158-26-000212.md) |
| Income tax | $bn | [0.9](/filings/0001628280-24-045689.md) | [(0.8) d](/filings/0000310158-26-000063.md) | [0.9](/filings/0001628280-25-021834.md) | [0.5](/filings/0000310158-25-000014.md) | [0.9](/filings/0000310158-25-000059.md) | [0.4 d](/filings/0000310158-26-000063.md) | [0.8](/filings/0001628280-26-029802.md) | [0.6](/filings/0000310158-26-000212.md) | [1.0](/filings/0000310158-25-000059.md) | [0.5 d](/filings/0000310158-26-000063.md) | [0.7](/filings/0001628280-26-029802.md) | [0.7](/filings/0000310158-26-000212.md) |
| Net income | $bn | [4.7](/filings/0001628280-24-045689.md) | [(1.2) d](/filings/0000310158-26-000063.md) | [4.8](/filings/0001628280-25-021834.md) | [5.5](/filings/0000310158-25-000014.md) | [3.2](/filings/0000310158-25-000059.md) | [3.7 d](/filings/0000310158-26-000063.md) | [5.1](/filings/0001628280-26-029802.md) | [4.4](/filings/0000310158-26-000212.md) | [5.8](/filings/0000310158-25-000059.md) | [3.0 d](/filings/0000310158-26-000063.md) | [(4.2)](/filings/0001628280-26-029802.md) | [(1.3)](/filings/0000310158-26-000212.md) |
| Diluted EPS | $ per share | [1.86](/filings/0001628280-24-045689.md) | not reported | [1.87](/filings/0001628280-25-021834.md) | [2.14](/filings/0000310158-25-000014.md) | [1.24](/filings/0000310158-25-000059.md) | not reported | [2.01](/filings/0001628280-26-029802.md) | [1.76](/filings/0000310158-26-000212.md) | [2.32](/filings/0000310158-25-000059.md) | not reported | [(1.72)](/filings/0001628280-26-029802.md) | [(0.54)](/filings/0000310158-26-000212.md) |
| Basic EPS | $ per share | [1.87](/filings/0001628280-24-045689.md) | not reported | [1.88](/filings/0001628280-25-021834.md) | [2.15](/filings/0000310158-25-000014.md) | [1.25](/filings/0000310158-25-000059.md) | not reported | [2.01](/filings/0001628280-26-029802.md) | [1.76](/filings/0000310158-26-000212.md) | [2.32](/filings/0000310158-25-000059.md) | not reported | [(1.72)](/filings/0001628280-26-029802.md) | [(0.54)](/filings/0000310158-26-000212.md) |

- Revenue: us-gaap:Revenues
- Cost of revenue: us-gaap:CostOfGoodsAndServicesSold
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Selling, general and administrative: us-gaap:SellingGeneralAndAdministrativeExpense
- Interest expense: us-gaap:InterestExpense, us-gaap:InterestExpenseNonoperating
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $bn | [8.6](/filings/0001628280-23-036717.md) | [6.8](/filings/0001628280-25-007732.md) | [5.6](/filings/0001628280-24-020283.md) | [11.3](/filings/0001628280-24-034715.md) | [14.6](/filings/0001628280-24-045689.md) | [13.2](/filings/0000310158-26-000063.md) | [8.6](/filings/0001628280-25-021834.md) | [8.0](/filings/0000310158-25-000014.md) | [18.2](/filings/0000310158-25-000059.md) | [14.6](/filings/0000310158-26-000212.md) | [5.3](/filings/0001628280-26-029802.md) | [6.8](/filings/0000310158-26-000212.md) |
| Current assets | $bn | [32.0](/filings/0001628280-23-036717.md) | [32.2](/filings/0001628280-25-007732.md) | [31.4](/filings/0001628280-24-020283.md) | [38.2](/filings/0001628280-24-034715.md) | [40.4](/filings/0001628280-24-045689.md) | [38.8](/filings/0000310158-26-000063.md) | [35.5](/filings/0001628280-25-021834.md) | [37.1](/filings/0000310158-25-000014.md) | [47.6](/filings/0000310158-25-000059.md) | [43.5](/filings/0000310158-26-000212.md) | [35.0](/filings/0001628280-26-029802.md) | [36.7](/filings/0000310158-26-000212.md) |
| Total assets | $bn | [107](/filings/0001628280-23-036717.md) | [107](/filings/0001628280-25-007732.md) | [106](/filings/0001628280-24-020283.md) | [113](/filings/0001628280-24-034715.md) | [118](/filings/0001628280-24-045689.md) | [117](/filings/0000310158-26-000063.md) | [115](/filings/0001628280-25-021834.md) | [118](/filings/0000310158-25-000014.md) | [130](/filings/0000310158-25-000059.md) | [137](/filings/0000310158-26-000212.md) | [129](/filings/0001628280-26-029802.md) | [130](/filings/0000310158-26-000212.md) |
| Current liabilities | $bn | [23.1](/filings/0001628280-23-036717.md) | [25.7](/filings/0001628280-25-007732.md) | [25.1](/filings/0001628280-24-020283.md) | [26.1](/filings/0001628280-24-034715.md) | [29.6](/filings/0001628280-24-045689.md) | [28.4](/filings/0000310158-26-000063.md) | [25.2](/filings/0001628280-25-021834.md) | [26.0](/filings/0000310158-25-000014.md) | [28.6](/filings/0000310158-25-000059.md) | [28.3](/filings/0000310158-26-000212.md) | [26.9](/filings/0001628280-26-029802.md) | [27.7](/filings/0000310158-26-000212.md) |
| Long-term debt | $bn | [34.0](/filings/0001628280-23-036717.md) | [33.7](/filings/0001628280-25-007732.md) | [31.1](/filings/0001628280-24-020283.md) | [34.7](/filings/0001628280-24-034715.md) | [35.0](/filings/0001628280-24-045689.md) | [34.5](/filings/0000310158-26-000063.md) | [33.5](/filings/0001628280-25-021834.md) | [34.0](/filings/0000310158-25-000014.md) | [40.0](/filings/0000310158-25-000059.md) | [46.8](/filings/0000310158-26-000212.md) | [46.7](/filings/0001628280-26-029802.md) | [51.1](/filings/0000310158-26-000212.md) |
| Current portion of debt | $bn | [0.9](/filings/0001628280-23-036717.md) | [1.3](/filings/0001628280-25-007732.md) | [3.1](/filings/0001628280-24-020283.md) | [3.1](/filings/0001628280-24-034715.md) | [3.1](/filings/0001628280-24-045689.md) | [2.5](/filings/0000310158-26-000063.md) | [1.4](/filings/0001628280-25-021834.md) | [1.4](/filings/0000310158-25-000014.md) | [1.4](/filings/0000310158-25-000059.md) | [2.3](/filings/0000310158-26-000063.md) | [2.4](/filings/0001628280-26-029802.md) | [2.8](/filings/0000310158-26-000212.md) |
| Shareholders' equity | $bn | [41.2](/filings/0001628280-23-036717.md) | [37.6](/filings/0001628280-25-007732.md) | [40.4](/filings/0001628280-24-020283.md) | [43.6](/filings/0001628280-24-034715.md) | [44.5](/filings/0001628280-24-045689.md) | [46.3](/filings/0000310158-26-000063.md) | [48.3](/filings/0001628280-25-021834.md) | [49.0](/filings/0000310158-25-000014.md) | [51.9](/filings/0000310158-25-000059.md) | [52.6](/filings/0000310158-26-000212.md) | [45.9](/filings/0001628280-26-029802.md) | [41.9](/filings/0000310158-26-000212.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Long-term debt: us-gaap:LongTermDebtNoncurrent
- Current portion of debt: us-gaap:DebtCurrent, us-gaap:LongTermDebtCurrent
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [7,717 d](/filings/0001628280-24-045689.md) | [246 d](/filings/0000310158-26-000063.md) | [3,090](/filings/0001628280-25-021834.md) | [5,637 d](/filings/0000310158-25-000014.md) | [9,291 d](/filings/0000310158-25-000059.md) | [3,450 d](/filings/0000310158-26-000063.md) | [2,500](/filings/0001628280-26-029802.md) | [3,293 d](/filings/0000310158-26-000212.md) | [7,822 d](/filings/0000310158-25-000059.md) | [2,857 d](/filings/0000310158-26-000063.md) | [3,918](/filings/0001628280-26-029802.md) | [5,370 d](/filings/0000310158-26-000212.md) |
| Capital expenditure | $m | [902 d](/filings/0001628280-24-045689.md) | [989 d](/filings/0000310158-26-000063.md) | [861](/filings/0001628280-25-021834.md) | [791 d](/filings/0000310158-25-000014.md) | [783 d](/filings/0000310158-25-000059.md) | [937 d](/filings/0000310158-26-000063.md) | [1,328](/filings/0001628280-26-029802.md) | [764 d](/filings/0000310158-26-000212.md) | [987 d](/filings/0000310158-25-000059.md) | [1,033 d](/filings/0000310158-26-000063.md) | [991](/filings/0001628280-26-029802.md) | [893 d](/filings/0000310158-26-000212.md) |
| Dividends paid | $m | [1,855 d](/filings/0001628280-24-045689.md) | [1,852 d](/filings/0000310158-26-000063.md) | [1,950](/filings/0001628280-25-021834.md) | [1,986 d](/filings/0000310158-25-000014.md) | [1,953 d](/filings/0000310158-25-000059.md) | [1,951 d](/filings/0000310158-26-000063.md) | [2,050](/filings/0001628280-26-029802.md) | [2,077 d](/filings/0000310158-26-000212.md) | [2,031 d](/filings/0000310158-25-000059.md) | [2,018 d](/filings/0000310158-26-000063.md) | [2,105](/filings/0001628280-26-029802.md) | [2,144 d](/filings/0000310158-26-000212.md) |
| Share repurchases | $m | [466 d](/filings/0001628280-24-045689.md) | [393 d](/filings/0000310158-26-000063.md) | [122](/filings/0001628280-25-021834.md) | [251 d](/filings/0000310158-25-000014.md) | [444 d](/filings/0000310158-25-000059.md) | [489 d](/filings/0000310158-26-000063.md) | [1,164](/filings/0001628280-26-029802.md) | [1,345 d](/filings/0000310158-26-000212.md) | [1,323 d](/filings/0000310158-25-000059.md) | [1,252 d](/filings/0000310158-26-000063.md) | [874](/filings/0001628280-26-029802.md) | [757 d](/filings/0000310158-26-000212.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
- Dividends paid: us-gaap:PaymentsOfDividendsCommonStock
- Share repurchases: us-gaap:PaymentsForRepurchaseOfCommonStock

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [2,542](/filings/0001628280-23-036717.md) | [2,551](/filings/0001628280-24-020283.md) | [2,539](/filings/0001628280-24-034715.md) | [2,546](/filings/0001628280-24-045689.md) | [2,544](/filings/0001628280-25-021834.md) | [2,544](/filings/0000310158-25-000014.md) | [2,541](/filings/0000310158-25-000059.md) | [2,531](/filings/0001628280-26-029802.md) | [2,513](/filings/0000310158-26-000212.md) | [2,498](/filings/0000310158-25-000059.md) | [2,472](/filings/0001628280-26-029802.md) | [2,470](/filings/0000310158-26-000212.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 2,467,171,638 at 2026-07-31, from the cover of the [10-Q filed 2026-08-07](/filings/0000310158-26-000212.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:21 ET. No prices; not investment advice.