Other
Construction work in progress
Merck & Co. Construction work in progress increased by 14.8% to $9.17B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 14.8%, from $7.98B to $9.17B. Over 5 years (FY 2020 to FY 2025), Construction work in progress shows an upward trend with a 5.6% CAGR.
Analysis
StatementBalance Sheet Statement
SectionOther
CategoryCapital Allocation
SignalContext dependent
VolatilityModerate
First reportedQ4 2014
Last reportedQ4 2025Feb 24, 2026
How to read this metric
An increase suggests significant capital investment for future capacity or modernization, while a decrease may indicate project completions or a slowdown in infrastructure spending.
Detailed definition
This represents the total costs incurred for capital projects that are currently under construction but not yet placed i...
Peer comparison
Peers in the regulated utility sector typically maintain high levels of CWIP due to constant grid modernization and regulatory mandates.
Metric ID:
other_construction_in_progress_grossHistorical Data
5 periods
| Q4 '21 | Q4 '22 | Q4 '23 | Q4 '24 | Q4 '25 | |
|---|---|---|---|---|---|
| Value | $8.31B | $9.19B | $8.26B | $7.98B | $9.17B |
| QoQ Change | — | +10.5% | -10.1% | -3.4% | +14.8% |
| YoY Change | — | +10.5% | -10.1% | -3.4% | +14.8% |
Range$7.98B – $9.19B
CAGR+10.3%
Avg YoY Growth+3.0%
Median YoY Growth+3.6%
Construction work in progress at Other Companies
Frequently Asked Questions
- What is Merck & Co.'s construction work in progress?
- Merck & Co. (MRK) reported construction work in progress of $9.17B in Q4 2025.
- How has Merck & Co.'s construction work in progress changed year-over-year?
- Merck & Co.'s construction work in progress increased by 14.8% year-over-year, from $7.98B to $9.17B.
- What is the long-term trend for Merck & Co.'s construction work in progress?
- Over 5 years (2020 to 2025), Merck & Co.'s construction work in progress has grown at a 5.6% compound annual growth rate (CAGR), from $6.97B to $9.17B.
- What does construction work in progress mean?
- The total cost of capital projects currently being built but not yet operational.