Merck & Co., Inc. (MRK) income statement
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
Merck & Co., Inc. (MRK) reported revenue of $18.1B for Q3 '26 (+5.2% year on year), operating income of $7.33B (40.6% of revenue) and net income of $5.07B. Over the last four quarters revenue was $67.3B.
Income statement
| Income statement | Trend | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.6B | $15.8B | $16.1B | $16.7B | $15.6B | $15.6B | $15.8B | $17.2B | $16.3B | $16.3B | $16.6B | $18.1B | |
| Cost of revenue | $3.91B | $3.54B | $3.75B | $4.08B | $3.83B | $3.89B | $3.85B | $4.19B | $4.82B | $2.94B | $4.4B | $3.36B | |
| Gross profit | $10.7B | $12.2B | $12.4B | $12.6B | $11.8B | $11.7B | $12B | $13B | $11.5B | $13.3B | $12.2B | $14.7B | |
| Research & development | $9.63B | $3.99B | $3.5B | $5.86B | $4.58B | $3.12B | $3.54B | $3.55B | $2.5B | $12.6B | $9.74B | $4.53B | |
| Sales & marketing | $2.3B | $0 | $0 | $0 | $2.4B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| General & administrative | $341M | $0 | $0 | $0 | $291M | $0 | $0 | $0 | $0 | $0 | $2.9B | $0 | |
| Other operating expenses | $163M | $0 | $0 | $0 | $173M | $0 | $0 | $0 | $0 | $0 | $250M | $0 | |
| Operating expenses | $12.4B | $6.48B | $6.24B | $8.59B | $7.45B | $5.02B | $5.59B | $5.53B | $5.35B | $15.2B | $12.9B | $7.4B | |
| Operating income | -$1.71B | $5.76B | $6.13B | $3.98B | $4.35B | $6.71B | $6.36B | $7.46B | $6.16B | -$1.88B | -$683M | $7.33B | |
| Interest income | $70M | $73M | $69M | $127M | $146M | $109M | $69M | $96M | $69M | $0 | $35M | $0 | |
| Interest expense | $310M | $303M | $310M | $330M | $328M | $313M | $305M | $327M | $411M | $0 | $525M | $0 | |
| Other non-operating income (gains on investments, FX ...) | $23M | -$213M | -$188M | -$436M | -$150M | $494M | $1.06B | $391M | $2.33B | $1.65B | -$525M | $0 | |
| Total non-operating income | -$333M | -$90M | -$122M | $106M | -$178M | -$807M | -$1.36B | -$718M | -$2.74B | -$1.65B | $0 | -$1.78B | |
| Income before tax | -$2.05B | $5.67B | $6.01B | $4.09B | $4.17B | $5.9B | $5B | $6.75B | $3.42B | -$3.53B | -$683M | $5.56B | |
| Income tax | -$820M | $903M | $545M | $929M | $426M | $818M | $571M | $958M | $458M | $709M | $654M | $492M | |
| Net income | -$1.23B | $4.76B | $5.46B | $3.16B | $3.74B | $5.08B | $4.43B | $5.79B | $2.96B | -$4.24B | -$1.34B | $5.07B | |
| EPS (basic) | -$0.48 | $1.88 | $2.15 | $1.25 | $1.48 | $2.01 | $1.76 | $2.32 | $1.20 | -$1.72 | -$0.54 | $2.04 | |
| EPS (diluted) | -$0.48 | $1.87 | $2.14 | $1.24 | $1.48 | $2.01 | $1.76 | $2.32 | $1.19 | -$1.72 | -$0.54 | $2.04 | |
| Shares (basic, weighted) | 2.55B | 2.53B | 2.53B | 2.54B | 2.54B | 2.52B | 2.51B | 2.5B | 2.47B | 2.47B | 2.47B | 2.48B | |
| Shares (diluted, weighted) | 2.55B | 2.54B | 2.54B | 2.54B | 2.54B | 2.53B | 2.51B | 2.5B | 2.49B | 2.47B | 2.47B | 2.48B | |
| Depreciation & amortization | $964M | $984M | $1.13B | $1.19B | $1.2B | $1.1B | $1.12B | $1.15B | $2.47B | $1.51B | $1.58B | $0 | |
| EBITDA | -$772M | $6.96B | $7.45B | $5.61B | $5.7B | $7.32B | $6.42B | $8.23B | $6.3B | -$2.02B | $1.43B | $7.33B |
| Income statement | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $39.8B | $40.1B | $42.3B | $39.1B | $41.5B | $48.7B | $59.3B | $60.1B | $64.2B | $64.9B | |
| Cost of revenue | $14B | $12.9B | $13.5B | $12B | $13.6B | $13.6B | $17.4B | $16.1B | $15.2B | $18.2B | |
| Gross profit | $25.8B | $27.2B | $28.8B | $27.1B | $27.9B | $35.1B | $41.9B | $44B | $49B | $46.7B | |
| Research & development | $10.3B | $10.3B | $9.75B | $9.72B | $13.4B | $12.2B | $13.5B | $30.5B | $17.9B | $12.5B | |
| Sales & marketing | $9.76B | $9.83B | $0 | $0 | $1.8B | $2B | $2.2B | $2.3B | $2.4B | $0 | |
| General & administrative | $255M | $244M | $0 | $0 | $6.77B | $7.4B | $7.47B | $7.58B | $7.7B | $0 | |
| Other operating expenses | $0 | $0 | $0 | $0 | $386M | $231M | $373M | $620M | $716M | $0 | |
| Operating expenses | $20.3B | $20.4B | $19.9B | $19.2B | $22.4B | $21.9B | $23.6B | $41B | $28.8B | $23.2B | |
| Operating income | $5.5B | $6.8B | $8.93B | $7.93B | $5.55B | $13.2B | $18.3B | $2.95B | $20.2B | $23.5B | |
| Interest income | $328M | $385M | $343M | $274M | $59M | $36M | $157M | $365M | $415M | $343M | |
| Interest expense | $693M | $754M | $772M | $893M | $831M | $806M | $962M | $1.15B | $1.27B | $1.36B | |
| Other non-operating income (gains on investments, FX ...) | $147M | -$478M | -$542M | -$138M | -$1.15B | -$1.49B | $876M | -$81M | -$986M | $1.06B | |
| Total non-operating income | -$840M | -$276M | -$230M | -$755M | $315M | $680M | -$1.84B | -$1.07B | -$285M | -$2.42B | |
| Income before tax | $4.66B | $6.52B | $8.7B | $7.17B | $5.86B | $13.9B | $16.4B | $1.89B | $19.9B | $21.1B | |
| Income tax | $718M | $4.1B | $2.51B | $1.57B | $1.34B | $1.52B | $1.92B | $1.51B | $2.8B | $2.8B | |
| Net income | $3.92B | $2.39B | $6.22B | $9.84B | $7.07B | $13B | $14.5B | $365M | $17.1B | $18.3B | |
| EPS (basic) | $2.07 | $0.95 | $2.40 | $3.84 | $2.79 | $5.16 | $5.73 | $0.14 | $6.76 | $7.30 | |
| EPS (diluted) | $2.04 | $0.93 | $2.32 | $3.82 | $2.78 | $5.14 | $5.71 | $0.14 | $6.74 | $7.28 | |
| Shares (basic, weighted) | 2.75B | 2.7B | 2.59B | 2.57B | 2.53B | 2.53B | 2.53B | 2.55B | 2.53B | 2.5B | |
| Shares (diluted, weighted) | 2.79B | 2.75B | 2.68B | 2.58B | 2.54B | 2.54B | 2.54B | 2.55B | 2.54B | 2.51B | |
| Depreciation & amortization | $5.47B | $4.68B | $4.52B | $3.65B | $3.49B | $3.21B | $3.91B | $3.87B | $4.5B | $5.84B | |
| EBITDA | $10.8B | $12B | $14B | $16B | $10.2B | $17.9B | $21.3B | $6.91B | $25.7B | $28.3B |
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.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe 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