Merck & Co. Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Quarter	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Jun '25 Jun 30, 2025	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Sep '24 Sep 30, 2024	Jun '24 Jun 30, 2024	Mar '24 Mar 31, 2024	Dec '23 Dec 31, 2023	Sep '23 Sep 30, 2023	Jun '23 Jun 30, 2023	Mar '23 Mar 31, 2023	Dec '22 Dec 31, 2022	Sep '22 Sep 30, 2022	Jun '22 Jun 30, 2022	Mar '22 Mar 31, 2022	Dec '21 Dec 31, 2021	Sep '21 Sep 30, 2021	Jun '21 Jun 30, 2021	Mar '21 Mar 31, 2021
Cash & Equivalents	14,565	18,169	8,007	8,629	13,242	14,593	11,304	5,579	6,841	8,605	5,660	9,707	12,694	11,145	9,675	8,556	8,096	10,016	8,575	6,981
Short-Term Investments	-	45	615	599	447	-	50	40	252	168	718	680	498	103	453	372	-	-	-	-
Cash & Short-Term Investments	14,565	18,214	8,622	9,228	13,689	14,593	11,354	5,619	7,093	8,773	6,378	10,387	13,192	11,248	10,128	8,928	8,096	10,016	8,575	6,981
Cash Growth	6.40%	24.81%	-24.06%	64.23%	92.99%	66.34%	78.02%	-45.90%	-46.23%	-22.00%	-37.03%	16.34%	62.94%	12.30%	18.11%	27.89%	0.57%	36.16%	-22.77%	-6.07%
Accounts Receivable	11,775	12,120	11,846	10,790	10,278	11,381	11,642	11,366	10,349	10,394	11,030	10,415	9,450	9,482	9,643	9,828	9,230	8,571	7,843	8,235
Inventory	6,658	6,444	6,601	6,196	6,109	6,244	6,469	6,510	6,358	6,131	5,930	5,863	5,911	5,614	5,535	5,774	5,953	5,603	5,499	6,402
Other Current Assets	10,518	10,779	9,996	9,289	8,706	8,143	8,740	7,950	8,368	6,656	6,639	6,737	7,169	7,217	6,810	6,654	6,987	6,868	6,748	5,291
Total Current Assets	43,516	47,557	37,065	35,503	38,782	40,361	38,205	31,445	32,168	31,954	29,977	33,402	35,722	33,561	32,116	31,184	30,266	31,058	28,665	26,909
Net Property, Plant & Equipment	25,316	25,639	25,236	24,793	23,779	23,446	23,221	23,045	23,051	22,526	22,231	21,758	21,422	20,424	20,059	19,747	19,279	18,565	18,064	18,295
Other Intangible Assets	26,681	15,313	15,193	15,758	16,370	17,010	16,984	17,572	18,011	19,199	19,665	19,857	20,269	21,368	22,497	23,022	22,933	13,384	13,622	14,401
Goodwill	21,579	21,587	21,591	21,684	21,668	21,697	21,161	21,181	21,197	21,183	21,195	21,209	21,204	21,160	21,213	21,258	21,264	18,862	18,873	20,212
Long-Term Investments	956	1,117	774	616	463	575	357	280	252	1,306	1,214	1,290	1,015	984	238	316	370	435	411	544
Other Long-Term Assets	18,818	18,333	17,664	16,768	16,044	14,443	12,702	12,326	11,996	10,559	10,187	10,280	9,528	9,584	10,972	11,141	11,582	11,190	11,053	10,486
Total Assets	136,866	129,546	117,523	115,122	117,106	117,532	112,630	105,849	106,675	106,727	104,469	107,796	109,160	107,081	107,095	106,668	105,694	93,494	90,688	90,847
Accounts Payable	4,404	4,147	3,892	3,784	4,079	3,586	3,519	3,514	3,922	3,509	3,442	3,680	4,264	3,371	3,482	3,715	4,609	3,366	3,897	4,034
Accrued Expenses	14,468	16,186	14,502	12,772	15,694	16,539	14,712	14,102	15,766	14,840	13,747	13,000	14,159	14,222	13,501	14,051	13,859	14,214	12,888	11,911
Short-Term Debt	2,589	1,405	1,434	1,360	2,649	3,149	3,071	3,077	1,372	887	2,839	2,672	1,946	1,936	2,979	1,208	2,412	3,534	2,488	7,251
Other Current Liabilities	6,866	6,890	6,209	7,258	5,998	6,312	4,758	4,406	4,634	3,858	3,366	3,779	3,870	3,469	3,206	3,342	2,992	2,614	2,633	3,165
Total Current Liabilities	28,327	28,628	26,037	25,174	28,420	29,586	26,060	25,099	25,694	23,094	23,394	23,131	24,239	22,998	23,168	22,316	23,872	23,728	21,906	26,361
Long-Term Debt	46,750	39,969	33,968	33,484	34,462	34,982	34,717	31,142	33,683	33,972	34,072	28,074	28,745	28,482	28,684	30,586	30,690	22,907	24,033	24,002
Other Long-Term Liabilities	9,127	9,042	8,458	8,064	7,852	8,404	8,205	9,184	9,663	8,361	8,261	9,686	10,118	11,077	11,925	12,813	12,875	10,996	11,361	13,445
Total Long-Term Liabilities	55,877	49,011	42,426	41,548	42,314	43,386	42,922	40,326	43,346	42,333	42,333	37,760	38,863	39,559	40,609	43,399	43,565	33,903	35,394	37,447
Total Liabilities	84,204	77,639	68,463	66,722	70,734	72,972	68,982	65,425	69,040	65,427	65,727	60,891	63,102	62,557	63,777	65,715	67,437	57,631	57,300	63,808
Common Stock	1,788	1,788	1,788	1,788	1,788	1,788	1,788	1,788	1,788	1,788	1,788	1,788	1,788	1,788	1,788	1,788	1,788	1,788	1,788	1,788
Treasury Stock	-62,999	-61,799	-60,495	-59,401	-58,303	-57,829	-57,394	-57,445	-57,450	-57,066	-56,612	-56,577	-56,489	-56,758	-56,770	-57,063	-57,109	-57,244	-56,682	-56,722
Additional Paid-in Capital	45,029	44,832	44,644	44,816	44,704	44,530	44,362	44,598	44,509	44,358	44,219	44,467	44,379	44,243	44,115	44,275	44,238	44,149	44,039	39,613
Accumulated Other Comprehensive Income	-4,287	-5,202	-5,421	-4,965	-4,945	-5,371	-5,361	-5,274	-5,161	-4,916	-4,900	-4,883	-4,768	-4,743	-4,327	-4,369	-4,429	-4,590	-4,628	-6,622
Retained Earnings	73,075	72,231	68,477	66,097	63,069	61,384	60,187	56,697	53,895	57,082	54,198	62,039	61,081	59,928	58,437	56,252	53,696	51,691	48,777	48,888
Total Common Shareholders' Equity	52,606	51,850	48,993	48,335	46,313	44,502	43,582	40,364	37,581	41,246	38,693	46,834	45,991	44,458	43,243	40,883	38,184	35,794	33,294	26,945
Minority Interest	56	57	67	65	59	58	66	60	54	54	49	71	67	66	75	70	73	69	94	94
Shareholders' Equity	52,662	51,907	49,060	48,400	46,372	44,560	43,648	40,424	37,635	41,300	38,742	46,905	46,058	44,524	43,318	40,953	38,257	35,863	33,388	27,039
Total Liabilities & Equity	136,866	129,546	117,523	115,122	117,106	117,532	112,630	105,849	106,675	106,727	104,469	107,796	109,160	107,081	107,095	106,668	105,694	93,494	90,688	90,847
Total Debt	49,339	41,374	35,402	34,844	37,111	38,131	37,788	34,219	35,055	34,859	36,911	30,746	30,691	30,418	31,663	31,794	33,102	26,441	26,521	31,253
Net Cash (Debt)	-34,774	-23,160	-26,780	-25,616	-23,422	-23,538	-26,434	-28,600	-27,962	-26,086	-30,533	-20,359	-17,499	-19,170	-21,535	-22,866	-25,006	-16,425	-17,946	-24,272
Net Cash Per Share	-13.98	-9.27	-10.66	-10.12	-9.23	-9.26	-10.39	-11.24	-11.04	-10.25	-12.03	-7.98	-6.87	-7.54	-8.48	-9.01	-9.86	-6.48	-7.07	-9.55
Book Value	52,606	51,850	48,993	48,335	46,313	44,502	43,582	40,364	37,581	41,246	38,693	46,834	45,991	44,458	43,243	40,883	38,184	35,794	33,294	26,945
Book Value Per Share	21.14	20.76	19.50	19.10	18.25	17.51	17.13	15.87	14.84	16.20	15.24	18.36	18.05	17.49	17.02	16.11	15.06	14.11	13.11	10.60
Tangible Book Value	4,346	14,950	12,209	10,893	8,275	5,795	5,437	1,611	-1,627	864	-2,167	5,768	4,518	1,930	-467	-3,397	-6,013	3,548	799	-7,668
Tangible Book Value Per Share	1.75	5.98	4.86	4.30	3.26	2.28	2.14	0.63	-0.64	0.34	-0.85	2.26	1.77	0.76	-0.18	-1.34	-2.37	1.40	0.31	-3.02

Updated Apr 30, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q