MRK · XBRL financial data

Merck financial statements, every fiscal year

The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (MRK's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue	47,994	48,704	59,283	60,115	64,168	65,011
Cost of goods and services sold	15,485	13,626	17,411	16,126	15,193	16,382
Research and development	13,558	12,245	13,548	30,531	17,938	15,789
Selling, general and administrative	10,468	9,634	10,042	10,504	10,816	10,733
Interest income	59	36	157	365	415	343
Interest expense	831	806	962	1,146	1,271	1,357
Other income (expense)	886	1,341	(1,501)	(466)	24	(151)
Income tax expense (benefit)	1,709	1,521	1,918	1,512	2,803	2,804
Net income (loss)	7,067	13,049	14,519	365	17,117	18,254
Earnings per share, basic USD per share	2.79	5.16	5.73	0.14	6.76	7.30
Earnings per share, diluted USD per share	2.78	5.14	5.71	0.14	6.74	7.28
Weighted average shares, basic millions of shares	2,530	2,530	2,532	2,537	2,532	2,502
Weighted average shares, diluted millions of shares	2,541	2,538	2,542	2,547	2,541	2,507

Fiscal years (MRK's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	8,062	8,096	12,694	6,841	13,242	14,565
Short-term investments	—	0	498	—	—	—
Marketable securities	0	—	498	252	447	0
Marketable securities, non-current	785	370	1,015	252	463	956
Accounts receivable	7,851	9,230	9,450	10,349	10,278	11,775
Inventory	6,310	5,953	5,911	6,358	6,109	6,658
Total current assets	27,764	30,266	35,722	32,168	38,782	43,516
Property and equipment, net	17,986	19,279	21,422	23,051	23,779	25,316
Right-of-use asset	1,725	1,586	1,346	1,437	1,370	1,507
Goodwill	20,238	21,264	21,204	21,197	21,668	21,579
Total assets	91,588	105,694	109,160	106,675	117,106	136,866
Accounts payable	4,594	4,609	4,264	3,922	4,079	4,404
Current portion of long-term debt	2,300	2,300	1,700	1,300	2,500	2,300
Total current liabilities	27,327	23,872	24,239	25,694	28,420	28,327
Long-term debt	25,360	30,690	28,745	33,683	34,462	46,750
Lease liability, non-current	1,362	1,225	1,013	928	877	901
Retained earnings	47,362	53,696	61,081	53,895	63,069	73,075
Total stockholders' equity	25,317	38,184	45,991	37,581	46,313	52,606
Total liabilities and equity	91,588	105,694	109,160	106,675	117,106	136,866
Common shares outstanding (cover page) millions of shares	2,530	2,528	2,539	2,533	2,526	2,472

Fiscal years (MRK's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	7,067	13,049	14,519	365	17,117	18,254
Stock-based compensation	475	479	541	645	761	820
Net cash from operating activities	10,253	—	19,095	13,006	21,468	16,472
Purchases of property and equipment	—	4,448	4,388	3,863	3,372	4,112
Net cash from investing activities	(9,443)	—	(4,960)	(14,083)	(7,734)	(13,741)
Share repurchases	1,281	840	0	1,346	1,306	5,084
Dividends paid	6,215	6,610	7,012	7,445	7,840	8,176
Proceeds from long-term debt	4,419	7,936	0	5,939	—	—
Repayments of long-term debt	1,957	2,319	2,251	1,755	1,290	2,503
Net cash from financing activities	(2,832)	—	(9,119)	(4,810)	(7,032)	(1,922)
Net change in cash	(1,769)	14	4,606	(5,864)	6,409	1,372

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