Financials in USD. Standardized financial statements.
A compact view of how Merck & Co., Inc. turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $64.93B | $64.17B | $60.12B | $59.28B | $48.70B | $41.52B | $39.12B | $42.29B | $40.12B | $39.81B |
| Revenue Growth? | +1.2% | +6.7% | +1.4% | +21.7% | +17.3% | +6.1% | -7.5% | +5.4% | +0.8% | 0.0% |
| Cost of Revenue? | $18.20B | $15.19B | $16.13B | $17.41B | $13.63B | $13.62B | $12.02B | $13.51B | $12.91B | $14.03B |
| Gross Profit? | $46.73B | $48.98B | $43.99B | $41.87B | $35.08B | $27.90B | $27.11B | $28.79B | $27.21B | $25.78B |
| Gross Margin? | +72.0% | +76.3% | +73.2% | +70.6% | +72.0% | +67.2% | +69.3% | +68.1% | +67.8% | +64.8% |
| Operating Expenses? | $23.25B | $28.75B | $41.03B | $23.59B | $21.88B | $22.35B | $19.18B | $19.85B | $20.41B | $20.28B |
| Operating Income? | $23.49B | $20.22B | $2.95B | $18.28B | $13.20B | $5.55B | $7.93B | $8.93B | $6.80B | $5.50B |
| EBITDA? | $29.32B | $25.71B | $6.91B | $21.32B | $17.90B | $10.18B | $11.37B | $13.99B | $11.95B | $10.82B |
| Income Before Tax | $21.07B | $19.94B | $1.89B | $16.44B | $13.88B | $5.86B | $7.17B | $8.70B | $6.52B | $4.66B |
| Income Tax Expense | $2.80B | $2.80B | $1.51B | $1.92B | $1.52B | $1.34B | $1.56B | $2.51B | $4.10B | $718.00M |
| Net Income? | $18.25B | $17.12B | $365.00M | $14.52B | $13.05B | $7.07B | $9.84B | $6.22B | $2.39B | $3.92B |
| EPS? | $7.30 | $6.76 | $0.14 | $5.73 | $5.16 | $2.79 | $3.84 | $2.40 | $0.95 | $2.07 |
| Diluted EPS? | $7.28 | $6.74 | $0.14 | $5.71 | $5.14 | $2.78 | $3.82 | $2.32 | $0.93 | $2.04 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality