Merck & Co., Inc. (MRK) balance sheet
NYSE · Healthcare · Drug Manufacturers - General · 74,000 employees · CEO Robert Davis
- Price
- $149.52 +2.18%
- Market cap
- $369B
- Enterprise value
- $416B
- Last report
- Q3 '26 filed 2026-09-30
- Next report
- 2027-02-02 EPS est. $1.79
At the end of Q2 '26 Merck & Co., Inc. (MRK) held $7.14B in cash and short-term investments against $53.9B of debt incl. leases. Total assets $130B, total liabilities $87.8B, shareholders' equity $41.9B.
Balance sheet
| Balance sheet | Trend | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||||
| Cash & equivalents | $8.61B | $6.84B | $5.58B | $11.3B | $14.6B | $13.2B | $8.63B | $8.01B | $18.2B | $14.6B | $5.33B | $6.85B | |
| Short-term investments | $168M | $252M | $40M | $50M | $0 | $447M | $599M | $615M | $45M | $0 | $375M | $292M | |
| Receivables | $10.4B | $10.3B | $11.4B | $11.6B | $11.4B | $10.3B | $10.8B | $11.8B | $12.1B | $12.7B | $12.2B | $12.6B | |
| Inventory | $6.13B | $6.36B | $6.51B | $6.47B | $6.24B | $6.11B | $6.2B | $6.6B | $6.44B | $6.66B | $6.48B | $6.21B | |
| Other current assets | $6.66B | $8.37B | $7.95B | $8.74B | $8.14B | $8.71B | $9.29B | $10B | $10.8B | $9.49B | $10.6B | $10.8B | |
| Current assets | $32B | $32.2B | $31.4B | $38.2B | $40.4B | $38.8B | $35.5B | $37.1B | $47.6B | $43.5B | $35B | $36.7B | |
| Property, plant & equipment (net) | $22.5B | $23.1B | $23B | $23.2B | $23.4B | $23.8B | $24.8B | $25.2B | $25.6B | $26.8B | $25.4B | $25.7B | |
| Long-term investments | $1.31B | $252M | $280M | $357M | $575M | $463M | $616M | $774M | $1.12B | $2.24B | $1.11B | $1.22B | |
| Goodwill | $21.2B | $21.2B | $21.2B | $21.2B | $21.7B | $21.7B | $21.7B | $21.6B | $21.6B | $21.6B | $21.6B | $21.6B | |
| Intangible assets | $19.2B | $18B | $17.6B | $17B | $17B | $16.4B | $15.8B | $15.2B | $15.3B | $26.7B | $25.7B | $25B | |
| Other non-current assets | $10.6B | $12B | $12.3B | $12.7B | $14.4B | $16B | $16.8B | $17.7B | $18.3B | $16B | $19.8B | $19.6B | |
| Non-current assets | $74.8B | $74.5B | $74.4B | $74.4B | $77.2B | $78.3B | $79.6B | $80.5B | $82B | $93.4B | $93.7B | $93.1B | |
| Total assets | $107B | $107B | $106B | $113B | $118B | $117B | $115B | $118B | $130B | $137B | $129B | $130B | |
| Liabilities | |||||||||||||
| Accounts payable | $3.51B | $3.92B | $3.51B | $3.52B | $3.59B | $4.08B | $3.78B | $3.89B | $4.15B | $4.4B | $3.86B | $3.83B | |
| Accrued expenses | $14.8B | $15.8B | $14.1B | $14.7B | $16.5B | $15.7B | $12.8B | $14.5B | $16.2B | $85M | $14.5B | $0 | |
| Short-term debt | $887M | $1.37B | $3.08B | $3.07B | $3.15B | $2.65B | $1.36B | $1.43B | $1.41B | $2.88B | $2.44B | $2.83B | |
| Taxes payable | $1.98B | $2.65B | $2.4B | $2.78B | $4.33B | $3.91B | $5.18B | $4.16B | $4.85B | $0 | $3.95B | $4.22B | |
| Other current liabilities | $0 | -$285M | $0 | $0 | $0 | -$282M | $0 | $0 | $0 | $14.1B | $0 | $18.9B | |
| Current liabilities | $23.1B | $25.7B | $25.1B | $26.1B | $29.6B | $28.4B | $25.2B | $26B | $28.6B | $28.3B | $26.9B | $27.7B | |
| Long-term debt | $34B | $33.7B | $31.1B | $34.7B | $35B | $34.5B | $33.5B | $34B | $40B | $46.8B | $46.7B | $51.1B | |
| Lease obligations (non-current) | $0 | $928M | $0 | $0 | $0 | $877M | $0 | $0 | $0 | $901M | $0 | $0 | |
| Deferred tax liabilities | $1.02B | $871M | $922M | $876M | $864M | $1.39B | $1.41B | $1.43B | $1.38B | $1.44B | $1.49B | $1.43B | |
| Other non-current liabilities | $7.34B | $7.86B | $8.26B | $7.33B | $7.54B | $5.59B | $6.66B | $7.03B | $7.66B | $6.79B | $7.64B | $7.57B | |
| Non-current liabilities | $42.3B | $43.3B | $40.3B | $42.9B | $43.4B | $42.3B | $41.5B | $42.4B | $49B | $55.9B | $55.8B | $60.1B | |
| Total liabilities | $65.4B | $69B | $65.4B | $69B | $73B | $70.7B | $66.7B | $68.5B | $77.6B | $84.2B | $82.8B | $87.8B | |
| Equity | |||||||||||||
| Common stock & paid-in capital | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | |
| Retained earnings | $57.1B | $53.9B | $56.7B | $60.2B | $61.4B | $63.1B | $66.1B | $68.5B | $72.2B | $73.1B | $66.7B | $63.3B | |
| Accumulated other comprehensive income | -$4.92B | -$5.16B | -$5.27B | -$5.36B | -$5.37B | -$4.95B | -$4.97B | -$5.42B | -$5.2B | -$4.29B | -$4.06B | -$3.94B | |
| Shareholders' equity | $41.2B | $37.6B | $40.4B | $43.6B | $44.5B | $46.3B | $48.3B | $49B | $51.9B | $52.6B | $45.9B | $41.9B | |
| Debt | |||||||||||||
| Total debt (incl. leases) | $34.9B | $36.3B | $34.2B | $37.8B | $38.1B | $38.3B | $34.8B | $35.4B | $41.4B | $50.5B | $49.1B | $53.9B | |
| Net debt (debt - cash) | $26.3B | $29.4B | $28.6B | $26.5B | $23.5B | $25B | $26.2B | $27.4B | $23.2B | $36B | $43.8B | $47.1B | |
| Balance sheet | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & equivalents | $6.52B | $6.09B | $7.97B | $9.68B | $8.05B | $8.1B | $12.7B | $6.84B | $13.2B | $14.6B | |
| Short-term investments | $7.83B | $2.41B | $899M | $774M | $0 | $0 | $498M | $252M | $447M | $0 | |
| Receivables | $7.02B | $6.87B | $7.07B | $6.78B | $6.8B | $9.23B | $9.45B | $10.3B | $10.3B | $12.7B | |
| Inventory | $4.87B | $5.1B | $5.44B | $5.98B | $5.55B | $5.95B | $5.91B | $6.36B | $6.11B | $6.66B | |
| Other current assets | $4.39B | $4.3B | $4.5B | $4.28B | $7.36B | $6.99B | $7.17B | $8.37B | $8.71B | $9.49B | |
| Current assets | $30.6B | $24.8B | $25.9B | $27.5B | $27.8B | $30.3B | $35.7B | $32.2B | $38.8B | $43.5B | |
| Property, plant & equipment (net) | $12B | $12.4B | $13.3B | $15.1B | $17B | $19.3B | $21.4B | $23.1B | $23.8B | $26.8B | |
| Long-term investments | $11.4B | $12.1B | $6.23B | $1.47B | $785M | $370M | $1.02B | $252M | $463M | $2.24B | |
| Goodwill | $18.2B | $18.3B | $18.3B | $19.4B | $18.9B | $21.3B | $21.2B | $21.2B | $21.7B | $21.6B | |
| Intangible assets | $17.3B | $14.2B | $13.1B | $14.2B | $14.1B | $22.9B | $20.3B | $18B | $16.4B | $26.7B | |
| Other non-current assets | $5.85B | $6.08B | $5.88B | $6.77B | $13.1B | $11.6B | $9.53B | $12B | $16B | $16B | |
| Non-current assets | $64.8B | $63.1B | $56.8B | $56.9B | $63.8B | $75.4B | $73.4B | $74.5B | $78.3B | $93.4B | |
| Total assets | $95.4B | $87.9B | $82.6B | $84.4B | $91.6B | $106B | $109B | $107B | $117B | $137B | |
| Liabilities | |||||||||||
| Accounts payable | $2.81B | $3.1B | $3.32B | $3.74B | $4.33B | $4.61B | $4.26B | $3.92B | $4.08B | $4.4B | |
| Accrued expenses | $10.3B | $10.4B | $10.2B | $12.5B | $12.2B | $13.9B | $14.2B | $15.8B | $15.7B | $85M | |
| Short-term debt | $568M | $3.06B | $5.31B | $3.61B | $6.43B | $2.41B | $1.95B | $1.37B | $2.65B | $2.88B | |
| Taxes payable | $2.24B | $708M | $1.97B | $736M | $1.58B | $1.22B | $1.99B | $2.65B | $3.91B | $0 | |
| Other current liabilities | $0 | $0 | $0 | $0 | $795M | -$304M | -$281M | -$285M | -$282M | $14.1B | |
| Current liabilities | $17.2B | $18.6B | $22.2B | $22.2B | $27.3B | $23.9B | $24.2B | $25.7B | $28.4B | $28.3B | |
| Long-term debt | $24.3B | $21.4B | $19.8B | $22.7B | $25.4B | $30.7B | $28.7B | $33.7B | $34.5B | $46.8B | |
| Lease obligations (non-current) | $0 | $0 | $0 | $768M | $1.34B | $1.23B | $1.01B | $928M | $877M | $901M | |
| Deferred tax liabilities | $5.08B | $2.22B | $1.7B | $1.47B | $1.01B | $3.44B | $1.8B | $871M | $1.39B | $1.44B | |
| Other non-current liabilities | $8.51B | $11.1B | $12B | $11.2B | $11.2B | $8.21B | $7.31B | $7.86B | $5.59B | $6.79B | |
| Non-current liabilities | $37.9B | $34.7B | $33.5B | $36.2B | $38.9B | $43.6B | $38.9B | $43.3B | $42.3B | $55.9B | |
| Total liabilities | $55.1B | $53.3B | $55.8B | $58.4B | $66.2B | $67.4B | $63.1B | $69B | $70.7B | $84.2B | |
| Equity | |||||||||||
| Common stock & paid-in capital | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | |
| Retained earnings | $44.1B | $41.4B | $42.6B | $46.6B | $47.4B | $53.7B | $61.1B | $53.9B | $63.1B | $73.1B | |
| Accumulated other comprehensive income | -$5.23B | -$4.91B | -$5.55B | -$6.19B | -$6.63B | -$4.43B | -$4.77B | -$5.16B | -$4.95B | -$4.29B | |
| Shareholders' equity | $40.1B | $34.3B | $26.7B | $25.9B | $25.3B | $38.2B | $46B | $37.6B | $46.3B | $52.6B | |
| Debt | |||||||||||
| Total debt (incl. leases) | $24.8B | $24.4B | $25.1B | $27.4B | $33.4B | $34.6B | $32B | $36.3B | $38.3B | $50.5B | |
| Net debt (debt - cash) | $18.3B | $18.3B | $17.1B | $17.7B | $25.4B | $26.5B | $19.3B | $29.4B | $25B | $36B | |
Standardised by Financial Modeling Prep from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Cash, investments and debt
quarter endsThe other statements
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-01