MerckMRKRevenue: is the business selling more than it used to?
$65.0B+1% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Revenue reached $65.0B in 2025, compounding +3% a year since 2022 though the pace has cooled. The trailing twelve months are already running at $66.6B, ahead of the last full year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKNet income: how much of that revenue becomes profit?
$18.3B+7% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Net income was $18.3B in 2025, compounding +8% a year over three years. Earnings per share moved -81% over the last twelve months. Trailing twelve-month profit stands at $3.2B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKHow fast is it growing, year by year?
+1.3%revenue growth, FY 2025
Off the axis: 2024 earnings +4589.6% - rebounds off a collapsed prior year.
→Revenue grew +1% in 2025 against a five-year average of +10%. Earnings grew faster (+7%), so each new dollar of sales is arriving more profitably. 2024's +4590% earnings rebound off a collapsed base sits off the axis.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKRevenue per share: is your slice growing as fast as the company?
$25.93revenue per share, FY 2025
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Revenue per share reached $25.93 in 2025, compounding +4% a year - in line with MRK's own +3%, so the share count is not distorting your slice. Free cash flow per share stands at $4.93.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKFree cash flow: what is left in real cash after everything?
$12.4B−32% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Free cash flow was $12.4B in 2025, compounding -6% a year since 2022. The trailing twelve months stand at $16.1B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKHow much of every sales dollar ends up as free cash?
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→19 cents of every sales dollar became free cash in 2025, down 6 points since 2022.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKWhat does staying competitive cost, per dollar of sales?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The biggest claim on each sales dollar is research and development, at 24% of revenue (capital spending 6%, stock compensation 1%).
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKMargins: of every $1 of sales, how much survives each cost layer?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Net margin stands at 28% in 2025. MRK doesn't break out gross or operating margin in its filings, so net is the only layer the data supports.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKWhat does it earn on the money it uses?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→MRK earns 8% on shareholders' capital. Return on capital employed isn't meaningful for this business model, so ROE carries the picture alone.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKWhat has the market paid for MRK over time?
118.8xP/E today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→At 118.8x earnings, the market is paying +477% more than MRK's own 11-year median of 20.6x. Expectations are elevated, so more has to go right to justify the price.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKWhat cash return does the business throw off per dollar of market value?
4.3%FCF yield today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→Every dollar of market value currently buys 4.3% of annual free cash flow, less than its 11-year median of 6.2% - you are paying up for the same cash.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKCould it handle its debt if things went wrong?
→Debt of $53.9B sits against $6.8B of cash, or 1.3x shareholders' equity.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKIs the company's own capital growing?
→The company's own capital grew from $37.6B in 2023 to $41.9B (+12%). The business is building book value rather than consuming it.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKHow much goes back, and how much leaks out as stock comp?
→Shareholders received $5.1B in buybacks and $8.2B in dividends in 2025. Stock compensation issued $820M of new shares in the same year, offsetting 6% of that.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKHow fast is your ownership being diluted - or concentrated?
→The share count shrank 1.3% in 2025, averaging 0.5% a year over three years. Buybacks are concentrating your ownership: the same business, split fewer ways.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKIs the dividend cheque growing?
→The dividend per share reached $3.26 in 2025, compounding +6% a year since 2020.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKCan it afford the dividend?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The dividend consumed 45% of profit and 66% of free cash flow in 2025. That leaves room to keep paying through a weak year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKMRK has issued or retired shares - did shareholders end up better off?
→MRK has shrunk its share count -19% from 2011 to 2025, so each remaining share owns more of the business. Revenue per share is +67% over the same years.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
MerckMRKAre the people running it buying or selling?
→Insiders sold $30M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 20 filings were grants, option exercises or tax withholding, which say nothing either way.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30