Merck & Co., Inc. (MRK) — Financial statements
Income statement, balance sheet, and cash flow for Merck & Co., Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 64,926↑1.2% | 64,168↑6.7% | 60,115↑1.4% | 59,283↑21.7% | 48,704 | |
| Cost of Revenue | 18,195↑19.8% | 15,193↓5.8% | 16,126↓7.4% | 17,411↑27.8% | 13,626 | |
| Gross Profit | 46,731↓4.6% | 48,975↑11.3% | 43,989↑5.1% | 41,872↑19.4% | 35,078 | |
| Operating Expenses | ||||||
| R&D Expenses | 12,514↓30.2% | 17,938↓41.2% | 30,531↑125.4% | 13,548↑10.6% | 12,245 | |
| General & Administrative Expenses | 0.00↓100.0% | 7,700↑1.5% | 7,584↑1.5% | 7,469↑0.9% | 7,403 | |
| Selling & Marketing Expenses | 0.00↓100.0% | 2,400↑4.3% | 2,300↑4.5% | 2,200↑10.0% | 2,000 | |
| SG&A Expenses | 10,731↑6.2% | 10,100↑2.2% | 9,884↑2.2% | 9,669↑2.8% | 9,403 | |
| Other Expenses | 0.00↓100.0% | 716↑15.5% | 620↑66.2% | 373↑61.5% | 231 | |
| Operating Expenses | 23,245↓19.2% | 28,754↓29.9% | 41,035↑74.0% | 23,590↑7.8% | 21,879 | |
| Total Costs & Expenses | 41,440↓5.7% | 43,947↓23.1% | 57,161↑39.4% | 41,001↑15.5% | 35,505 | |
| Operating Results | ||||||
| Operating Income | 23,486↑16.1% | 20,221↑584.5% | 2,954↓83.8% | 18,282↑38.5% | 13,199 | |
| Depreciation & Amortization | 5,838↑29.8% | 4,499↑16.2% | 3,872↓0.9% | 3,909↑21.6% | 3,214 | |
| EBITDA | 29,324↑14.1% | 25,706↑272.2% | 6,907↓67.6% | 21,315↑19.1% | 17,899 | |
| EBIT | 23,486↑10.7% | 21,207↑598.7% | 3,035↓82.6% | 17,406↑18.5% | 14,685 | |
| Interest & Other Income | ||||||
| Net Interest Income | -1,014↓18.5% | -856↓9.6% | -781↑3.0% | -805↓4.5% | -770 | |
| Interest Income | 343↓17.3% | 415↑13.7% | 365↑132.5% | 157↑336.1% | 36 | |
| Interest Expense | 1,357↑6.8% | 1,271↑10.9% | 1,146↑19.1% | 962↑19.4% | 806 | |
| Non-Operating Income | 0.00↑100.0% | -986↓1117.3% | -81↓109.2% | 876↑159.0% | -1,486 | |
| Other Income / Expenses | -2,419↓748.8% | -285↑73.2% | -1,065↑42.1% | -1,838↓370.3% | 680 | |
| Income Before Tax | 21,067↑5.7% | 19,936↑955.4% | 1,889↓88.5% | 16,444↑18.5% | 13,879 | |
| Income Tax Expense | 2,804↑0.0% | 2,803↑85.4% | 1,512↓21.2% | 1,918↑26.1% | 1,521 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 18,263↑6.6% | 17,133↑4444.6% | 377↓97.4% | 14,526↑17.5% | 12,358 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00↓100.0% | 704 | |
| Net Income | 18,254↑6.6% | 17,117↑4589.6% | 365↓97.5% | 14,519↑11.3% | 13,049 | |
| Bottom-Line Net Income | 18,254↑6.6% | 17,117↑4589.6% | 365↓97.5% | 14,519↑11.3% | 13,049 | |
| EPS (Basic) | 7.30↑8.0% | 6.76↑4728.6% | 0.14↓97.6% | 5.73↑11.0% | 5.16 | |
| EPS (Diluted) | 7.28↑8.0% | 6.74↑4714.3% | 0.14↓97.5% | 5.71↑11.1% | 5.14 | |
| Weighted Average Shares | 2,502↓1.2% | 2,532↓2.9% | 2,607↑3.0% | 2,532↑0.1% | 2,530 | |
| Weighted Average Diluted Shares | 2,507↓1.3% | 2,541↓0.2% | 2,547↑0.2% | 2,542↑0.2% | 2,538 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.