Merck & Co., Inc. — Financial Data
Annual figures from SEC EDGAR XBRL filings (10-K)
These figures are extracted directly from XBRL-tagged financial statements that Merck & Co., Inc. filed with the SEC as part of its annual 10-K reports. XBRL (eXtensible Business Reporting Language) is a structured data format the SEC requires for machine-readable financial disclosures. Values shown are as reported — negative figures indicate a loss and are shown in red.
Revenue
Total revenue from all business activities — the top line of the income statement. Represents all money earned before any expenses are deducted.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $65.01B | Feb 24, 2026 |
| FY2025 | Dec 31, 2024 | $64.17B | Feb 24, 2026 |
| FY2025 | Dec 31, 2023 | $60.12B | Feb 24, 2026 |
| FY2024 | Dec 31, 2022 | $59.28B | Feb 25, 2025 |
| FY2023 | Dec 31, 2021 | $48.70B | Feb 26, 2024 |
| FY2022 | Dec 31, 2020 | $41.52B | Feb 24, 2023 |
| FY2021 | Dec 31, 2019 | $39.12B | Feb 25, 2022 |
| FY2020 | Dec 31, 2018 | $42.29B | Feb 25, 2021 |
| FY2019 | Dec 31, 2017 | $40.12B | Feb 26, 2020 |
| FY2018 | Dec 31, 2016 | $39.81B | Feb 27, 2019 |
Net Income
The bottom-line profit — what remains after all operating expenses, interest, taxes, and other costs are deducted. A negative value means the company reported a net loss for the year.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $18.25B | Feb 24, 2026 |
| FY2025 | Dec 31, 2024 | $17.12B | Feb 24, 2026 |
| FY2025 | Dec 31, 2023 | $365.00M | Feb 24, 2026 |
| FY2024 | Dec 31, 2022 | $14.52B | Feb 25, 2025 |
| FY2023 | Dec 31, 2021 | $13.05B | Feb 26, 2024 |
| FY2022 | Dec 31, 2020 | $7.07B | Feb 24, 2023 |
| FY2021 | Dec 31, 2019 | $9.84B | Feb 25, 2022 |
| FY2020 | Dec 31, 2018 | $6.22B | Feb 25, 2021 |
| FY2019 | Dec 31, 2017 | $2.39B | Feb 26, 2020 |
| FY2018 | Dec 31, 2016 | $3.92B | Feb 27, 2019 |
R&D Expense
Spending on research and development activities — developing new products, improving existing ones, or conducting basic research. High R&D relative to revenue is common in technology and pharmaceutical companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $15.79B | Feb 24, 2026 |
| FY2025 | Dec 31, 2024 | $17.94B | Feb 24, 2026 |
| FY2025 | Dec 31, 2023 | $30.53B | Feb 24, 2026 |
| FY2024 | Dec 31, 2022 | $13.55B | Feb 25, 2025 |
| FY2023 | Dec 31, 2021 | $12.25B | Feb 26, 2024 |
| FY2022 | Dec 31, 2020 | $13.40B | Feb 24, 2023 |
| FY2021 | Dec 31, 2019 | $9.72B | Feb 25, 2022 |
| FY2020 | Dec 31, 2018 | $9.75B | Feb 25, 2021 |
| FY2019 | Dec 31, 2017 | $10.34B | Feb 26, 2020 |
| FY2018 | Dec 31, 2016 | $10.26B | Feb 27, 2019 |
SG&A Expense
Selling, general, and administrative expenses — the overhead costs of running the business, including salaries, marketing, legal fees, and corporate office costs. Excludes COGS and R&D.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $10.73B | Feb 24, 2026 |
| FY2025 | Dec 31, 2024 | $10.82B | Feb 24, 2026 |
| FY2025 | Dec 31, 2023 | $10.50B | Feb 24, 2026 |
| FY2024 | Dec 31, 2022 | $10.04B | Feb 25, 2025 |
| FY2023 | Dec 31, 2021 | $9.63B | Feb 26, 2024 |
| FY2022 | Dec 31, 2020 | $8.96B | Feb 24, 2023 |
| FY2021 | Dec 31, 2019 | $9.46B | Feb 25, 2022 |
| FY2020 | Dec 31, 2018 | $10.10B | Feb 25, 2021 |
| FY2019 | Dec 31, 2017 | $10.07B | Feb 26, 2020 |
| FY2018 | Dec 31, 2016 | $10.02B | Feb 27, 2019 |
Operating Cash Flow
Cash generated from core business operations — a more reliable measure of financial health than net income because it strips out non-cash items like depreciation and one-time charges.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $16.47B | Feb 24, 2026 |
| FY2025 | Dec 31, 2024 | $21.47B | Feb 24, 2026 |
| FY2025 | Dec 31, 2023 | $13.01B | Feb 24, 2026 |
| FY2024 | Dec 31, 2022 | $19.10B | Feb 25, 2025 |
| FY2020 | Dec 31, 2020 | $10.25B | Feb 25, 2021 |
| FY2020 | Dec 31, 2019 | $13.44B | Feb 25, 2021 |
| FY2020 | Dec 31, 2018 | $10.92B | Feb 25, 2021 |
| FY2019 | Dec 31, 2017 | $6.45B | Feb 26, 2020 |
| FY2018 | Dec 31, 2016 | $10.38B | Feb 27, 2019 |
| FY2017 | Dec 31, 2015 | $12.54B | Feb 27, 2018 |
Capital Expenditures (Capex)
Cash spent on acquiring or upgrading physical assets — property, equipment, and infrastructure. High capex businesses include manufacturing, telecom, and energy companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $4.11B | Feb 24, 2026 |
| FY2025 | Dec 31, 2024 | $3.37B | Feb 24, 2026 |
| FY2025 | Dec 31, 2023 | $3.86B | Feb 24, 2026 |
| FY2024 | Dec 31, 2022 | $4.39B | Feb 25, 2025 |
| FY2023 | Dec 31, 2021 | $4.45B | Feb 26, 2024 |
Total Assets
The total value of everything the company owns or controls — cash, investments, receivables, property, equipment, and intangibles. Reported as of fiscal year end.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $136.87B | Feb 24, 2026 |
| FY2025 | Dec 31, 2024 | $117.11B | Feb 24, 2026 |
| FY2024 | Dec 31, 2023 | $106.68B | Feb 25, 2025 |
| FY2023 | Dec 31, 2022 | $109.16B | Feb 26, 2024 |
| FY2022 | Dec 31, 2021 | $105.69B | Feb 24, 2023 |
| FY2021 | Dec 31, 2020 | $91.59B | Feb 25, 2022 |
| FY2020 | Dec 31, 2019 | $84.40B | Feb 25, 2021 |
| FY2019 | Dec 31, 2018 | $82.64B | Feb 26, 2020 |
| FY2018 | Dec 31, 2017 | $87.87B | Feb 27, 2019 |
| FY2017 | Dec 31, 2016 | $95.38B | Feb 27, 2018 |
Stockholders Equity
The net worth attributable to shareholders: total assets minus total liabilities. Also called book value. Can be negative if liabilities exceed assets, which is common in capital-intensive industries.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $52.61B | Feb 24, 2026 |
| FY2025 | Dec 31, 2024 | $46.31B | Feb 24, 2026 |
| FY2024 | Dec 31, 2023 | $37.58B | Feb 25, 2025 |
| FY2023 | Dec 31, 2022 | $45.99B | Feb 26, 2024 |
| FY2022 | Dec 31, 2021 | $38.18B | Feb 24, 2023 |
| FY2021 | Dec 31, 2020 | $25.32B | Feb 25, 2022 |
| FY2020 | Dec 31, 2019 | $25.91B | Feb 25, 2021 |
| FY2019 | Dec 31, 2018 | $26.70B | Feb 26, 2020 |
| FY2018 | Dec 31, 2017 | $34.34B | Feb 27, 2019 |
| FY2017 | Dec 31, 2016 | $40.09B | Feb 27, 2018 |
Goodwill
An intangible asset representing the premium paid above fair value when acquiring another company. A large goodwill balance signals a history of acquisitions at premium prices.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $21.58B | Feb 24, 2026 |
| FY2025 | Dec 31, 2024 | $21.67B | Feb 24, 2026 |
| FY2025 | Dec 31, 2023 | $21.20B | Feb 24, 2026 |
| FY2024 | Dec 31, 2022 | $21.20B | Feb 25, 2025 |
| FY2023 | Dec 31, 2021 | $21.26B | Feb 26, 2024 |
| FY2022 | Dec 31, 2020 | $18.88B | Feb 24, 2023 |
| FY2021 | Dec 31, 2019 | $18.07B | Feb 25, 2022 |
| FY2020 | Dec 31, 2018 | $18.25B | Feb 25, 2021 |
| FY2019 | Dec 31, 2017 | $18.28B | Feb 26, 2020 |
| FY2018 | Dec 31, 2016 | $18.16B | Feb 27, 2019 |
Retained Earnings
Cumulative net income kept by the company rather than distributed as dividends. A growing retained earnings balance indicates consistent profitability; a deficit indicates cumulative losses.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $73.08B | Feb 24, 2026 |
| FY2025 | Dec 31, 2024 | $63.07B | Feb 24, 2026 |
| FY2024 | Dec 31, 2023 | $53.90B | Feb 25, 2025 |
| FY2023 | Dec 31, 2022 | $61.08B | Feb 26, 2024 |
| FY2022 | Dec 31, 2021 | $53.70B | Feb 24, 2023 |
| FY2021 | Dec 31, 2020 | $47.36B | Feb 25, 2022 |
| FY2020 | Dec 31, 2019 | $46.60B | Feb 25, 2021 |
| FY2019 | Dec 31, 2018 | $42.58B | Feb 26, 2020 |
| FY2018 | Dec 31, 2017 | $41.35B | Feb 27, 2019 |
| FY2017 | Dec 31, 2016 | $44.13B | Feb 27, 2018 |
Cash & Equivalents
Highly liquid assets the company holds — cash on hand, bank balances, and short-term investments with maturities of three months or less. A key indicator of short-term financial health.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $14.57B | Feb 24, 2026 |
| FY2025 | Dec 31, 2024 | $13.24B | Feb 24, 2026 |
| FY2024 | Dec 31, 2023 | $6.84B | Feb 25, 2025 |
| FY2023 | Dec 31, 2022 | $12.69B | Feb 26, 2024 |
| FY2022 | Dec 31, 2021 | $8.10B | Feb 24, 2023 |
| FY2021 | Dec 31, 2020 | $8.05B | Feb 25, 2022 |
| FY2020 | Dec 31, 2019 | $9.68B | Feb 25, 2021 |
| FY2019 | Dec 31, 2018 | $7.97B | Feb 26, 2020 |
| FY2018 | Dec 31, 2017 | $6.09B | Feb 27, 2019 |
| FY2017 | Dec 31, 2016 | $6.52B | Feb 27, 2018 |
EPS (Basic)
Net income divided by the weighted average shares outstanding. Basic EPS does not account for dilutive securities like options or convertible bonds — use diluted EPS for a more conservative view.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 7 | Feb 24, 2026 |
| FY2025 | Dec 31, 2024 | 6 | Feb 24, 2026 |
| FY2025 | Dec 31, 2023 | 0 | Feb 24, 2026 |
| FY2024 | Dec 31, 2022 | 5 | Feb 25, 2025 |
| FY2023 | Dec 31, 2021 | 5 | Feb 26, 2024 |
| FY2022 | Dec 31, 2020 | 2 | Feb 24, 2023 |
| FY2021 | Dec 31, 2019 | 3 | Feb 25, 2022 |
| FY2020 | Dec 31, 2018 | 2 | Feb 25, 2021 |
| FY2019 | Dec 31, 2017 | 0 | Feb 26, 2020 |
| FY2018 | Dec 31, 2016 | 1 | Feb 27, 2019 |
EPS (Diluted)
Net income divided by the fully diluted share count — including all potential shares from options, warrants, and convertible instruments. The more conservative and widely cited EPS figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 7 | Feb 24, 2026 |
| FY2025 | Dec 31, 2024 | 6 | Feb 24, 2026 |
| FY2025 | Dec 31, 2023 | 0 | Feb 24, 2026 |
| FY2024 | Dec 31, 2022 | 5 | Feb 25, 2025 |
| FY2023 | Dec 31, 2021 | 5 | Feb 26, 2024 |
| FY2022 | Dec 31, 2020 | 2 | Feb 24, 2023 |
| FY2021 | Dec 31, 2019 | 3 | Feb 25, 2022 |
| FY2020 | Dec 31, 2018 | 2 | Feb 25, 2021 |
| FY2019 | Dec 31, 2017 | 0 | Feb 26, 2020 |
| FY2018 | Dec 31, 2016 | 1 | Feb 27, 2019 |
Dividends Paid
Cash dividends distributed to common shareholders during the period. Shown as a positive value despite being a cash outflow in the SEC filing.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $8.18B | Feb 24, 2026 |
| FY2025 | Dec 31, 2024 | $7.84B | Feb 24, 2026 |
| FY2025 | Dec 31, 2023 | $7.45B | Feb 24, 2026 |
| FY2024 | Dec 31, 2022 | $7.01B | Feb 25, 2025 |
| FY2023 | Dec 31, 2021 | $6.61B | Feb 26, 2024 |
| FY2022 | Dec 31, 2020 | $6.22B | Feb 24, 2023 |
| FY2021 | Dec 31, 2019 | $5.70B | Feb 25, 2022 |
| FY2020 | Dec 31, 2018 | $5.17B | Feb 25, 2021 |
| FY2019 | Dec 31, 2017 | $5.17B | Feb 26, 2020 |
| FY2018 | Dec 31, 2016 | $5.12B | Feb 27, 2019 |