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Merck & Co. MRK Q3 2025 earnings

Reported October 30, 2025 · Before market open

Revenue$17.3BBeat by $297.9M
EPS$2.58Beat by $0.22
Revenue estimate$17.0B
EPS estimate$2.36

Next report

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

Financials

Q3 2025

Income statement

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Revenue$17.3B+3.7%
Gross profit$13.4B+6.7%
Net income$5.8B+83.2%
EPS (diluted)$2.32+87.1%

Balance sheet

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Cash & equivalents$18.3B+24.3%
Total debt$42.8B+3.8%
Total equity$51.9B+16.5%
Total assets$129.55B+10.2%

Cash flow

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Operating cash flow$7.8B-15.8%
CapEx$987.0M+26.1%
Free cash flow$6.8B-19.7%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$209.64B-27.1%
Enterprise value$234.18B-25.5%
P/E11×—
P/S3.3×-1.3×

Profitability

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Gross margin77.2%+1.4pp
Net margin29.6%—
FCF margin20.3%-4.4pp

Returns & leverage

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Return on equity39.5%—
Debt / equity0.8×-0.1×
Current ratio1.7×+0.3×

FAQ

When did Merck & Co. report Q3 2025 earnings?
Merck & Co. (MRK) reported Q3 2025 earnings on October 30, 2025 before market open.
What were Merck & Co.'s Q3 2025 revenue and EPS?
Merck & Co. reported revenue of $17.3B and eps of $2.58 for Q3 2025.
Did Merck & Co. beat estimates in Q3 2025?
Revenue beat the consensus estimate of $17.0B by $297.9M. EPS beat the consensus estimate of $2.36 by $0.22.
How did Merck & Co.'s Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 3.7% from $16.7B a year earlier and eps grew 64.3% from $1.57.
Where can I find Merck & Co.'s Q3 2025 SEC filings?
You can read the 8-K earnings release (0001104659-25-103974) and the 10-Q periodic report (0000310158-25-000059) directly on SEC EDGAR. The filing index links above go to sec.gov.