Merck & Co., Inc. income statement & cash flow

Ticker MRK · SEC CIK 310158 · Latest fiscal year ended Dec 31, 2025

In the fiscal year ended Dec 31, 2025, Merck & Co., Inc. reported net income of $18.25B on revenue of $65.01B. Operating cash flow was $16.47B and capital expenditures were $4.11B, leaving $12.36B of free cash flow (operating cash flow minus capital expenditures).

Merck & Co., Inc. net income by fiscal year, USD. Hover a bar for the exact figure.

Income statement and cash flow summary

Fiscal year ended	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue (USD)	$39.81B	$40.12B	$42.29B	$39.12B	$41.52B	$48.70B	$59.28B	$60.12B	$64.17B	$65.01B
Net income (USD)	$3.92B	$2.39B	$6.22B	$9.84B	$7.07B	$13.05B	$14.52B	$365.00M	$17.12B	$18.25B
Diluted EPS (USD per share)	$1.41	$0.87	$2.32	$3.81	$2.78	$5.14	$5.71	$0.14	$6.74	$7.28
Operating cash flow (USD)	$10.38B	$6.45B	$10.92B	$13.44B	$10.25B	$13.12B	$19.09B	$13.01B	$21.47B	$16.47B
Capital expenditures (USD)	—	—	—	—	—	$4.45B	$4.39B	$3.86B	$3.37B	$4.11B
Reported in	10-K 2019	10-K 2020	10-K 2021	10-K 2022	10-K 2023	10-K 2024	10-K 2025	10-K 2026	10-K 2026	10-K 2026

Columns are fiscal years, labeled by the month the year ended; scroll sideways on small screens. — means the company did not report the figure under the XBRL concepts we track.

Margins

Each figure divided by revenue for the same fiscal year.

Fiscal year ended	Gross margin	Operating margin	Net margin
Dec 2025	—	—	28.1%
Dec 2024	—	—	26.7%
Dec 2023	—	—	0.6%
Dec 2022	—	—	24.5%
Dec 2021	—	—	26.8%

Merck & Co., Inc. operating cash flow by fiscal year, USD. Hover a bar for the exact figure.

Source: SEC EDGAR XBRL company facts for CIK 310158 (raw data). Most recent filing in this dataset: 10-Q filed Aug 7, 2026. SEC data file dated Nov 3, 2026; page built Nov 5, 2026. Figures are as most recently reported, including restatements. How we select figures.