Merck & Co. Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	-	13,242	6,841	12,694	8,096
Short-Term Investments	-	447	252	498	-
Cash & Short-Term Investments	18,214	13,689	7,093	13,192	8,096
Cash Growth	33.06%	92.99%	-46.23%	62.94%	0.56%
Accounts Receivable	-	11,119	11,072	10,621	10,779
Other Receivables	-	8	-	-	-
Receivables	-	11,127	11,072	10,621	10,779
Inventory	-	6,109	6,358	5,911	5,953
Restricted Cash	-	76	68	79	71
Other Current Assets	-	7,781	7,577	5,919	5,367
Total Current Assets	-	38,782	32,168	35,722	30,266
Property, Plant & Equipment	-	25,149	24,488	22,768	20,865
Long-Term Investments	-	1,610	1,558	2,445	966
Goodwill	-	21,668	21,197	21,204	21,264
Other Intangible Assets	-	16,370	18,011	20,269	22,933
Long-Term Deferred Tax Assets	-	3,601	1,968	503	692
Other Long-Term Assets	-	9,926	7,285	6,249	8,708
Total Assets	-	117,106	106,675	109,160	105,694
Accounts Payable	-	4,999	4,434	5,160	6,389
Accrued Expenses	-	13,870	14,130	12,508	11,491
Short-Term Debt	-	149	72	246	112
Current Portion of Long-Term Debt	-	2,500	1,300	1,700	2,300
Current Portion of Leases	-	282	285	281	304
Current Income Taxes Payable	-	3,914	2,649	1,986	1,224
Other Current Liabilities	-	2,706	2,824	2,358	2,052
Total Current Liabilities	-	28,420	25,694	24,239	23,872
Long-Term Debt	-	34,462	33,683	28,745	30,690
Long-Term Leases	-	877	928	1,013	1,225
Pension & Post-Retirement Benefits	-	939	1,231	1,223	1,871
Long-Term Deferred Tax Liabilities	-	1,387	871	1,795	3,441
Other Long-Term Liabilities	-	4,649	6,633	6,087	6,338
Total Liabilities	-	70,734	69,040	63,102	67,437
Common Stock	-	1,788	1,788	1,788	1,788
Additional Paid-In Capital	-	44,704	44,509	44,379	44,238
Retained Earnings	-	63,069	53,895	61,081	53,696
Treasury Stock	-	-58,303	-57,450	-56,489	-57,109
Comprehensive Income & Other	-	-4,945	-5,161	-4,768	-4,429
Total Common Equity	51,850	46,313	37,581	45,991	38,184
Minority Interest	-	59	54	67	73
Shareholders' Equity	51,907	46,372	37,635	46,058	38,257
Total Liabilities & Equity	-	117,106	106,675	109,160	105,694
Total Debt	41,374	38,270	36,268	31,985	34,631
Net Cash (Debt)	-23,160	-24,581	-29,175	-18,793	-26,535
Net Cash Per Share	-9.24	-9.67	-11.45	-7.39	-10.46
Filing Date Shares Outstanding	2,482	2,526	2,533	2,539	2,528
Total Common Shares Outstanding	2,487	2,528	2,532	2,538	2,528
Working Capital	-	10,362	6,474	11,483	6,394
Book Value Per Share	20.85	18.32	14.84	18.12	15.11
Tangible Book Value	14,950	8,275	-1,627	4,518	-6,013
Tangible Book Value Per Share	6.01	3.27	-0.64	1.78	-2.38
Land	-	307	326	295	326
Buildings	-	16,360	14,966	13,166	12,529
Machinery	-	18,283	17,763	16,760	16,303
Construction In Progress	-	7,984	8,262	9,186	8,313

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.