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MRK · NYSE · Drug Manufacturers - General

Merck

Develops oncology medicines, vaccines, cardiopulmonary therapies, and animal-health products worldwide.

$148.19
After-hours close−0.12 (−0.08%)
At close$148.31(−0.82%)
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Profile

Merck & Co., Inc.MRKHealth Care

Sells prescription medicines, biologic therapies, human vaccines, and animal-health products worldwide, with revenue concentrated in Keytruda oncology and the United States. Pharmaceutical and Animal Health are the reportable segments; Gardasil, Winrevair, Ohtuvayre, and veterinary medicines broaden the portfolio while patent, regulatory, pricing, and reimbursement systems shape demand.

Develops and commercializes prescription medicines, biologic therapies, and vaccines across oncology, cardiometabolic and respiratory disease, infectious disease, hospital care, and other therapeutic areas. Keytruda anchors oncology; vaccines include Gardasil and Gardasil 9, while Winrevair and Ohtuvayre extend the cardiopulmonary portfolio. A separate Animal Health segment supplies medicines, vaccines, and health-management products for livestock and companion animals.

Operates globally as MSD outside the United States and Canada, with the United States contributing most sales. Research, clinical development, regulatory execution, manufacturing, and global commercialization support new indications and launches, while acquisitions and alliances broaden the portfolio. Keytruda generates nearly half of sales, leaving results dependent on its demand, patent protection, and eventual biosimilar competition; pricing and reimbursement rules also shape the pharmaceuticals business.

Company facts

CEORobert M. Davis
ListedJan 13, 1978
ExchangeNYSE
HeadquartersRahway, NJ
CountryUnited States
Employees75,000
CIK0000310158
ISINUS58933Y1055

Categories

Key statistics

Market cap$366.18B
EPS (ttm)$1.25
P/E (ttm)118.68
ROE6.6%
P/B8.74
P/S5.51
Dividend yield2.26%
Beta0.16vs XLV 1.35

Year to date +39.3% · Average volume (30d) 9.9M

Analysts

Price target, next 12 months$150.00+1.1%Median of 37 analysts · vs the Aug 28 close
ConsensusBuy25 of 37 analysts rate it buy or better

Ratings

Target range

Latest analyst notes

DateFirmActionPrior ratingRatingPrior targetTarget
Aug 25, 2026Argus ResearchReiterateBuy$145$170
Aug 25, 2026Wolfe ResearchReiterateOutperform$135$180
Aug 21, 2026Goldman SachsReiterateBuy$133$160
Aug 20, 2026BMO CapitalReiterateOutperform$142$170
Aug 20, 2026UBSReiterateBuy$150$175

Earnings

EPS

Estimate$2.22
ReportedDue Oct 29, 2026

Revenue

Estimate$17.31B
ReportedDue Oct 29, 2026

History

Report dateEPS estEPSSurpriseRevenue estRevenueSurpriseNext session
Aug 4, 2026Q2 FY26−$0.27−$0.13+51.9%$16.37B$16.61B+1.5%+0.18%
Apr 30, 2026Q1 FY26−$1.47−$1.28+12.9%$15.85B$16.29B+2.8%+2.73%
Feb 3, 2026Q4 FY25$2.01$2.04+1.5%$16.20B$16.40B+1.2%+2.15%
Oct 30, 2025Q3 FY25$2.36$2.58+9.3%$16.98B$17.28B+1.8%−0.35%
View details

Financial highlights

12 quartersQ1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Revenue$15.62B$15.80B$17.18B$16.32B$16.29B$16.61B
Gross profit$11.73B$11.95B$12.99B$11.51B$13.34B$12.21B
Operating income$6.71B$6.36B$7.46B$6.16B−$1.88B−$683.0M
Net income$5.08B$4.43B$5.79B$2.96B−$4.24B−$1.34B
Diluted EPS$2.01$1.76$2.32$1.19−$1.72−$0.54
Gross margin75.1%75.7%75.6%70.5%81.9%73.5%
Operating margin43.0%40.2%43.4%37.7%-11.6%-4.1%

Fiscal years (4-quarter sums)FY21 $48.70B · FY22 $59.28B · FY23 $60.11B · FY24 $64.17B · FY25 $64.93B

Revenue by product · Q2 FY26

Pharmaceutical Segment$14.76B · 89%
Animal Health Segment$1.78B · 11%
Other Segments$72.0M · 0%

Revenue by geography · Q2 FY26

United States$9.37B · 56%
EMEA$3.92B · 24%
Latin America$875.0M · 5%
Asia Pacific$820.0M · 5%
International$640.0M · 4%
Japan$577.0M · 3%
China$408.0M · 2%

Balance sheet, Jun 30, 2026Cash & short-term investments $7.14B · Total debt $53.91B · Total assets $129.80B · Shareholders' equity $41.93B

Dividends

Next ex-date
Sep 15, 2026
in 17 days
Annual dividend
$3.36
per share
Dividend yield
2.26%
Schedule
Quarterly
4 payments a year

Raised for 54 straight years — most recently to $0.85 from $0.81 in Dec 2025. To collect a payout, hold shares through the close before the ex-date.

History

Ex-dateRecordPaidAmountNote
Jun 15, 2026Jun 15Jul 8$0.85
Mar 16, 2026Mar 16Apr 7$0.85
Dec 15, 2025Dec 15Jan 8$0.85raised from $0.81
Sep 15, 2025Sep 15Oct 7$0.81
Jun 16, 2025Jun 16Jul 8$0.81
Mar 17, 2025Mar 17Apr 7$0.81
Dec 16, 2024Dec 16Jan 8$0.81raised from $0.77
Sep 16, 2024Sep 16Oct 7$0.77
View details

Ownership

Institutions 101.77%Insiders 0.04%

A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.

Shares outstanding 2.47B · Float 2.47B · 99.8% free float

Top shareholders13F · 13D/G · Form 4

HolderShares% outstandingFormFiled
BlackRock, Inc.227.00M9.19%13FAug 7, 2026
Vanguard Capital Management LLC161.32M6.53%13FAug 13, 2026
State Street Corp120.41M4.88%13FAug 7, 2026
Wellington Management Group LLP86.25M3.49%13FAug 14, 2026
Vanguard Portfolio Management LLC67.74M2.74%13FAug 13, 2026

Insider tradesForm 4

DateInsiderRoleSharesAvg price
Aug 13, 2026Chirfi Guindoofficer: EVP, Access, Policy & Comms−10,000$135.00
Aug 12, 2026Jennifer Zacharyofficer: EVP, General Counsel−80,315$133.46
Aug 12, 2026Richard R. DeLucaofficer: EVP&Pres, Merck Animal Heallth−11,699$131.63
Aug 11, 2026Richard R. DeLucaofficer: EVP&Pres, Merck Animal Heallth−12,837$131.76
Aug 10, 2026Richard R. DeLucaofficer: EVP&Pres, Merck Animal Heallth−20,784$130.43
View details

Peers

  • Bristol-Myers Squibb

    Closest PD-1 rival: Opdivo and Opdivo+Yervoy dual checkpoint, 10+ cancer types.

  • AstraZeneca (ADR)

    Oncology rival: Imfinzi PD-L1, Enhertu ADC, Tagrisso EGFR, Lynparza co-promo.

  • Pfizer

    Cross-segment rival: Prevnar pneumococcal vaccines and growing PD-1 pipeline.

  • Johnson & Johnson

    Hematology leader with Darzalex ($11.7B); also rivals in prostate and NSCLC.

  • Zoetis

    Largest animal health company; head-to-head in parasiticides and livestock.

  • GSK (ADR)

    HPV rival (Cervarix) internationally and PD-1 oncology challenger via Jemperli.

  • Elanco Animal Health

    #4 animal health; companion and livestock competitor after aqua divestiture.

CompareAfter-hours close

CompanyPriceChange
Merck$148.19−0.08%$366.18B118.717.25.5+5.1%
Bristol-Myers Squibb$66.60+0.05%$136.00B14.710.52.8+5.7%
AstraZeneca (ADR)$161.79−0.55%$252.33B24.415.24.1+6.4%
Pfizer$27.95−0.04%$159.36B36.910.02.5+2.6%
Johnson & Johnson$268.40+0.13%$645.95B31.122.46.6+6.6%
Zoetis$77.47+0.23%$32.42B12.712.53.4+0.3%
GSK (ADR)$50.57−0.51%$101.82B15.89.22.2+2.7%
Elanco Animal Health$24.11−0.06%$12.04B—20.32.4+10.2%
Median20.112.52.8+5.7%