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Merck & Co. MRK Q2 2026 earnings

Reported August 4, 2026 · Before market open

Revenue$16.6BBeat by $238.1M
EPS-$0.13Beat by $0.14
Revenue estimate$16.4B
EPS estimate-$0.27
“We continued to make substantial progress across our business this quarter, driven by strong execution and growing contributions from new product launches. The FDA approval of LIPFENDRA is an exciting moment for our company and for patients, marking the latest milestone in our nearly 70-year legacy in cardiovascular disease. Together with key regulatory and clinical advances across oncology, HIV and immunology, this achievement reflects the strength of our pipeline and portfolio transformation as we bring forward the next wave of innovation. I am confident in the ongoing execution of our strategy as we deliver for patients and further enhance our long-term growth trajectory.”
Robert M. Davis

Next report

Oct 29, 2026 (In 3 weeks)
Revenue estimate$17.3B
EPS estimate$2.19

Financials

Q2 2026

Income statement

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Revenue$16.6B+5.1%
Gross profit$12.2B-0.3%
Net income-$1.3B-130%
EPS (diluted)-$0.54-131%

Balance sheet

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Cash & equivalents$6.9B-14.6%
Total debt$56.7B+54.0%
Total equity$41.9B-14.4%
Total assets$129.80B+10.4%

Cash flow

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Operating cash flow$5.4B+63.1%
CapEx$893.0M+16.9%
Free cash flow$4.5B+77.0%

Valuation & ratios

Valuation

as of 10/02/26
See full
Market cap$354.8B+58.7%
Enterprise value$404.64B+63.1%
P/E111.8×+100×
P/S5.3×+1.8×

Profitability

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Gross margin73%-3.6pp
Net margin4.8%-21.0pp
FCF margin24.1%+1.0pp

Returns & leverage

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Return on equity7%-28.5pp
Debt / equity1.4×+0.6×
Current ratio1.3×-0.1×

FAQ

When did Merck & Co. report Q2 2026 earnings?
Merck & Co. (MRK) reported Q2 2026 earnings on August 4, 2026 before market open.
What were Merck & Co.'s Q2 2026 revenue and EPS?
Merck & Co. reported revenue of $16.6B and eps of $-0.13 for Q2 2026.
Did Merck & Co. beat estimates in Q2 2026?
Revenue beat the consensus estimate of $16.4B by $238.1M. EPS beat the consensus estimate of $-0.27 by $0.14.
How did Merck & Co.'s Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 5.1% from $15.8B a year earlier.
Where can I find Merck & Co.'s Q2 2026 SEC filings?
You can read the 8-K earnings release (0001104659-26-090045) and the 10-Q periodic report (0000310158-26-000212) directly on SEC EDGAR. The filing index links above go to sec.gov.