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Merck is a research-driven pharmaceutical company whose Keytruda immunotherapy is one of the world's top-selling cancer drugs.
For the fiscal year ended December 31, 2025, Merck & Co., Inc. reported revenue of $65.0B and net income of $18.3B, with operating cash flow of $16.5B. Source: Form 10-K filed February 24, 2026
SEC data as of
Reported SEC XBRL figures. Each metric’s period and original filing are listed below.
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It also maintains major vaccine and animal-health businesses.
Reported figures from Merck & Co., Inc.'s filings, pulled directly from SEC XBRL data rather than a third-party terminal. Each row links to the filing it came from.
| Metric | Value | Period | Source |
|---|---|---|---|
| Revenue | $65.0B | 2025-01-01 – 2025-12-31 | SEC filing |
| Net income | $18.3B | 2025-01-01 – 2025-12-31 | SEC filing |
| Operating cash flow | $16.5B | 2025-01-01 – 2025-12-31 | SEC filing |
| Diluted EPS | $7.28 | 2025-01-01 – 2025-12-31 | SEC filing |
| Net margin | 28.1% | 2025-01-01 – 2025-12-31 | SEC filing |
| Shares outstanding | 2.47B | As of 2026-01-31 | SEC filing |
Values are as tagged by the issuer in XBRL. Revenue for banks and insurers is net of interest expense where that is the reported line. Fiscal years that do not follow the calendar are shown by their period-end date. No price, market cap, or valuation multiple is shown because Yield Theory does not republish unlicensed market data.
Diluted EPS is the earnings figure behind the price-to-earnings ratio; the P/E multiple compression calculator shows how a change in that multiple moves a share price. Shares outstanding multiplied by the share price gives market capitalization.
Merck & Co., Inc. sits in Health Care. Pharmaceuticals, biotech, medical devices, and managed care — defensive demand paired with binary drug and regulatory catalysts. We have not yet written company-specific drivers for MRK; the forces that matter most for the sector are:
Each question starts with what the filings show, then why it matters. None of these is a rating or a forecast.
Operating cash flow was $16.5B, 0.90 times net income of $18.3B, for the fiscal year ended December 31, 2025.
Cash from operations trailed reported earnings. Working-capital build (receivables, inventory, prepayments) or non-cash gains are the usual reasons; check the cash-flow statement before relying on reported profit.
Net income was 28.1% of revenue for the fiscal year ended December 31, 2025, based on revenue and net income reported for the same period.
Net margin reflects the business model as much as execution, so compare it with companies in the same SEC industry and read the income statement for one-time items before treating it as a run rate.
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Read the full researchHow we source and review company pages: research methodology.
| Politician | Trade date | Type | Owner | Amount | Source |
|---|---|---|---|---|---|
| Maria Salazar | 2026-08-19 | Purchase | Self | $15,001 - $50,000 | Filing #20035411 |
| Maria Salazar | 2026-08-19 | Purchase | Self | $15,001 - $50,000 | Filing #20035411 |
| Alan Armstrong | 2026-03-27 | Sale | Self | $15,001 - $50,000 | Filing #fda235b3-bad7-4637-8fa1-053f354d929c |
| Josh Gottheimer | 2026-02-04 | Purchase | Joint | $1,001 - $15,000 | Filing #20034130 |
| Gilbert Cisneros | 2025-12-19 | Purchase | Self | $1,001 - $15,000 | Filing #20033762 |
| Julie Johnson | 2025-12-18 | Sale | Joint | $1,001 - $15,000 | Filing #20033789 |
| Gilbert Cisneros | 2025-11-18 | Purchase | Self | $1,001 - $15,000 | Filing #20033619 |
| Julie Johnson | 2025-11-13 | Sale | Joint | $1,001 - $15,000 | Filing #20033611 |
| Valerie Hoyle | 2025-09-23 | Sale | Spouse | $1,001 - $15,000 | Filing #20032211 |
| Marjorie Greene | 2025-08-28 | Purchase | Self | $1,001 - $15,000 | Filing #20030996 |
All verified MRK congressional disclosures
Congressional disclosures are delayed, range-based records—not real-time signals or proof of motive. See the source-linked tracker for scope and limitations.
Merck is a research-driven pharmaceutical company whose Keytruda immunotherapy is one of the world's top-selling cancer drugs.
For the fiscal year ended December 31, 2025, Merck & Co., Inc. reported revenue of $65.0B and net income of $18.3B, with operating cash flow of $16.5B. The figures come from Merck & Co., Inc.'s SEC XBRL filings.
The SEC lists Merck & Co., Inc.'s fiscal year end as December 31.
The current verified House and Senate snapshot contains 42 transaction rows for MRK, each linked to the original filing.
Merck & Co., Inc. is headquartered in Rahway, New Jersey and was founded in 1891.
This page does not rate MRK as a buy or sell. It sets out what Merck & Co., Inc. reports, what investors should watch and the questions a thesis has to answer, with links to the SEC filings. It is research, not investment advice.
This page is independent research and educational information, not investment advice or a recommendation to buy or sell any security. Company facts are compiled from public sources. Do your own research.
Financials describe the business. The next question is which assumptions an investment thesis depends on. Explore the member reports below for analysis of catalysts, risks, and what would change the view. $39/month or $249/year.
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