Merck & Co., Inc. (BMV:MRK)

Merck & Co. Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	64,235	64,168	60,115	59,283	48,704	41,518
Revenue Growth (YoY)	1.68%	6.74%	1.40%	21.72%	17.31%	6.13%
Cost of Revenue	14,118	14,698	15,915	17,206	13,466	11,990
Gross Profit	50,117	49,470	44,200	42,077	35,238	29,528
Selling, General & Admin	10,089	10,100	9,884	9,669	9,403	8,569
Research & Development	12,792	14,481	18,342	11,918	11,942	10,564
Operating Expenses	22,881	24,581	28,226	21,587	21,345	19,133
Operating Income	27,236	24,889	15,974	20,490	13,893	10,395
Interest Expense	-1,274	-1,271	-1,146	-962	-806	-831
Interest & Investment Income	420	415	365	157	36	118
Currency Exchange Gain (Loss)	-274	-227	-370	-237	-297	-145
Other Non Operating Income (Expenses)	140	290	419.5	681	256	71
EBT Excluding Unusual Items	26,248	24,096	15,243	20,129	13,082	9,608
Merger & Restructuring Charges	-4,917	-4,344	-12,342	-666	-868	-4,993
Gain (Loss) on Sale of Investments	408	14	340	-1,419	1,940	1,338
Asset Writedown	-	-	-779	-1,600	-275	-90
Legal Settlements	-	-	-572.5	-	-	-
Other Unusual Items	78	170	-	-	-	-
Pretax Income	21,817	19,936	1,889	16,444	13,879	5,863
Income Tax Expense	2,772	2,803	1,512	1,918	1,521	1,340
Earnings From Continuing Operations	19,045	17,133	377	14,526	12,358	4,523
Earnings From Discontinued Operations	-	-	-	-	704	2,548
Net Income to Company	19,045	17,133	377	14,526	13,062	7,071
Minority Interest in Earnings	-11	-16	-12	-7	-13	-4
Net Income	19,034	17,117	365	14,519	13,049	7,067
Net Income to Common	19,034	17,117	365	14,519	13,049	7,067
Net Income Growth	56.68%	4589.59%	-97.49%	11.27%	84.65%	-28.20%
Shares Outstanding (Basic)	2,510	2,532	2,537	2,532	2,530	2,530
Shares Outstanding (Diluted)	2,519	2,541	2,547	2,542	2,538	2,541
Shares Change (YoY)	-0.91%	-0.24%	0.20%	0.16%	-0.12%	-1.51%
EPS (Basic)	7.58	6.76	0.14	5.73	5.16	2.79
EPS (Diluted)	7.56	6.74	0.14	5.71	5.14	2.78
EPS Growth	58.06%	4714.29%	-97.55%	11.15%	84.61%	-27.15%
Free Cash Flow	-	18,096	9,143	14,707	9,661	5,812
Free Cash Flow Per Share	-	7.12	3.59	5.79	3.81	2.29
Dividend Per Share	3.200	3.080	2.920	2.760	2.600	2.440
Dividend Growth	5.26%	5.48%	5.80%	6.15%	6.56%	10.91%
Gross Margin	78.02%	77.09%	73.53%	70.98%	72.35%	71.12%
Operating Margin	42.40%	38.79%	26.57%	34.56%	28.52%	25.04%
Profit Margin	29.63%	26.67%	0.61%	24.49%	26.79%	17.02%
Free Cash Flow Margin	-	28.20%	15.21%	24.81%	19.84%	14.00%
EBITDA	31,542	29,134	19,706	24,279	17,016	13,613
EBITDA Margin	49.10%	45.40%	32.78%	40.95%	34.94%	32.79%
D&A For EBITDA	4,306	4,245	3,732	3,789	3,123	3,218
EBIT	27,236	24,889	15,974	20,490	13,893	10,395
EBIT Margin	42.40%	38.79%	26.57%	34.56%	28.52%	25.04%
Effective Tax Rate	12.71%	14.06%	80.04%	11.66%	10.96%	22.86%
Advertising Expenses	-	2,400	2,300	2,200	2,000	1,800

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.