Company Analysis

Merck & Co., Inc. (MRK)

NYSE: MRK · Pharmaceutical Preparations · Rahway, NJ · filing with the SEC since 1994
Grade6.7
◀ Past 7.9● Present 7.1▶ Future 5.0
The companyfiscal 2025, as filed
Revenue$65.01B+1.3%
Net income$18.25B+6.6%
Earnings per share$7.28+8.0%
Operating cash flow$16.47B-23.3%
Cash$14.56B+10.0%
Debt$46.75B+35.7%
Shareholders’ equity$52.66B+13.6%
Shares, diluted2.51B-1.3%
Return on equity34.7%
The recordfrom its filings
Filings in 2026140
Newest filingNov 12 · 144
Annual reportFeb 24, 2026
Quarterly reportNov 4, 2026
Next report due10-K by Mar 1
Insider sales, 12 months$71.3M
Insider buys, 12 months$0.00
Patents granted8,403
Filer categoryLarge accelerated filer
Trailing twelve months to Sep 2026Revenue $67.38BNet income $2.45BCash from operations $18.70Bthe four newest filed quarters added
Left: the newest annual report, with the change on the year before. Right: counted from the company's own filings with the SEC.
Revenue and net income by fiscal yearRevenueNet income
16171819202122232425
As filed, in USD. Nothing here is a forecast.

The company now

Merck, known as MSD outside the United States and Canada, reports its third-quarter 2026 results on 29 October, with a call for analysts at 9:00 in the morning, Eastern time 9. Its last reported quarter, the second, brought sales of $16.6 billion, up 5 percent, with Keytruda, its cancer immunotherapy, at $8.4 billion 1. It still reported a loss of $0.54 a share, because buying Terns Pharmaceuticals, a cancer drug developer, brought a one-time charge of $5.7 billion 1.

This month brought two large trial results at the ESMO cancer congress 78. Merck and Moderna reported that their personalized mRNA vaccine, intismeran, added to Keytruda cut the risk of melanoma returning or death by 42 percent against Keytruda alone 7. Merck's own sac-TMT, a targeted chemotherapy, cut the risk of death by 32 percent in advanced endometrial cancer, and the FDA set a decision date of 15 June 2027 8.

The open question is how much of Keytruda these launches can replace: it made 49 percent of 2025 sales, and the company expects biosimilar copies from December 2028 3. In August it raised its 2026 sales outlook to between $66.3 billion and $67.3 billion 1.

As of Oct 28, 2026. Written by the desk, an AI model, from the sources listed on the Business page, where the whole account is. Nothing here is advice.

Newer filings are on file since this was written; an update is queued.

News

Nov 4, 2026 · SEC EDGAR · Form 10-Q
Quarterly report
Open the filing on sec.gov
Nov 3, 2026 · SEC EDGAR · Form 4
Insider trade report
Open the filing on sec.gov
Oct 29, 2026 · SEC EDGAR · Form 8-K
Results released
Open the filing on sec.gov
Oct 13, 2026 · SEC EDGAR · Form 8-K
Current report
Open the filing on sec.gov
Oct 1, 2026 · SEC EDGAR · Form 4
Insider trade report
Open the filing on sec.gov
An outside story is shown by its headline, its source and its link only. The SI reads the page when you ask it to break one down.
SI Assistanton MRK · research, not advice