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Merck & Co. Balance Sheet Statement

Assets, liabilities, and shareholders' equity

Merck & Co. holds $128.69B in total assets. Shareholders' equity is $45.9B against $49.1B in total debt. Cash and equivalents total $5.4B. The current ratio is 1.30 and debt-to-equity is 1.07. Based on the Q1 2026 filing.

Total Assets$128.69BTotal Stockholders Equity$45.9BLong Term Debt$49.1BCash And Equivalents$5.4BTotal Current Assets$35.0BTotal Current Liabilities$26.9B
Latest FilingQ1 2026
Report Date2026-05-04
Market Cap$302.33B
P/E Ratio33.84
ROE18.97%

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accounts payable$4.1B$3.8B$3.9B$4.1B$4.4B$3.9B
Accrued Environmental Liabilities$41.0M———$42.0M—
Accrued expenses$41.0M———$42.0M—
Accrued Income Taxes, Current$3.9B$5.2B$4.2B$4.8B$4.7B$3.9B
Other accrued liabilities$15.7B$12.8B$14.5B$16.2B$14.5B$14.5B
Derivative Liabilities - Fair Value$299.0M$239.0M$445.0M$246.0M$245.0M$225.0M
Derivative Liabilities - Not Offset Policy Election Deduction$299.0M$239.0M$445.0M$246.0M$245.0M$225.0M
Dividends payable$2.1B$2.1B$2.1B$2.0B$2.1B$2.1B
Lease Liability Payments - Remainder of Fiscal Year$329.0M———$335.0M—
Sales Rebates and Discounts$2.2B———$1.5B—
Total current liabilities$28.4B$25.2B$26.0B$28.6B$28.3B$26.9B

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accounts receivable, net$10.3B$10.8B$11.8B$12.1B$11.8B$12.2B
Allowance for Doubtful Accounts$89.0M$93.0M$94.0M$93.0M$97.0M$103.0M
Cash and cash equivalents$13.3B$8.7B$8.1B$18.3B$14.7B$5.4B
Contract Assets, Net$84.0M———$72.0M—
Short- term Investments$447.0M$599.0M$615.0M$45.0M$0.0$375.0M
Other current assets$8.7B$9.3B$10.0B$10.8B$10.5B$10.6B
Derivative Assets - Fair Value$729.0M$410.0M$546.0M$316.0M$323.0M$562.0M
Derivative assets$729.0M$410.0M$546.0M$316.0M$323.0M$562.0M
Income taxes receivable$3.9B———$5.7B—
Finished goods$2.0B$2.1B$2.1B$2.2B$2.3B$2.2B
Inventories$4.2B$4.6B$4.9B$5.4B$5.7B$6.2B
Other Inventory, Net$84.0M———$72.0M—
Materials and supplies$289.0M$290.0M$312.0M$325.0M$331.0M$334.0M
Restricted cash$76.0M$103.0M$66.0M$91.0M$125.0M$71.0M
Short-term investments$447.0M$599.0M$615.0M$45.0M$0.0$375.0M
Total current assets$38.8B$35.5B$37.1B$47.6B$43.5B$35.0B
Trading Securities in Marketable Securities$863.0M$872.0M$870.0M$834.0M$831.0M$881.0M

Non-Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accumulated Goodwill Impairment Losses$531.0M———$531.0M—
Deferred tax assets$2.2B$1.4B$1.4B$1.4B$1.2B-$315.0M
Deferred Tax Assets and Other Non-Current Assets$802.0M$16.8B$17.7B$18.3B$1.2B$19.8B
Equity Securities Without Readily Determinable Fair Value - Cumulative Downward Adjustments$863.0M$872.0M$870.0M$834.0M$831.0M$881.0M
Equity Securities Without Readily Determinable Fair Value - Cumulative Upward Adjustments$309.0M$309.0M$307.0M$293.0M$292.0M$320.0M
Finite-Lived Intangible Assets - Expected Amortization Expense (Year One)$1.5B———$2.7B—
Goodwill$21.7B$21.7B$21.6B$21.6B$21.6B$21.6B
Indefinite-Lived Research and Development Assets$3.1B———$4.1B—
Equity securities$920.0M$1.0B$1.2B$1.5B$1.4B$1.6B
Intangible Assets Gross (Excluding Goodwill)$42.2B———$55.4B—
Investments - Amortized Cost Basis$863.0M$872.0M$870.0M$834.0M$831.0M$881.0M
Long-term investments$910.0M———$956.0M—
Net Operating Loss Carryforwards$910.0M———$813.0M—
Other intangible assets—net$16.4B$15.8B$15.2B$15.3B$26.7B$25.7B
Investments$910.0M———$956.0M$1.5B
Machinery and equipment$18.3B———$19.8B—
Long- term Investments$463.0M$616.0M$774.0M$1.1B$956.0M$1.1B
Other non-current assets$16.0B$16.8B$17.7B$18.3B$18.8B$19.8B
Property, plant and equipment at cost$42.9B———$47.2B—
Accumulated depreciation$19.2B$19.7B$20.3B$20.6B$21.9B$22.3B
Buildings and improvements$16.4B———$18.0B—
Construction in progress$8.0B———$9.2B—
Land$307.0M———$321.0M—
Machinery and equipment$18.3B———$19.8B—
Property and equipment, net$23.8B$24.8B$25.2B$25.6B$25.3B$25.4B
Software and Technology Licenses, Net$16.0B$16.8B$17.7B$18.3B$18.8B$19.8B
Tax Credit Carryforward Valuation Allowance$710.0M———$824.0M—
Total assets$117.1B$115.1B$117.5B$129.5B$136.9B$128.7B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aggregate Notional Principal Outstanding$38.6B$42.4B$44.7B$42.9B$40.3B$42.1B
AOCI - Cash Flow Hedge Reclassification (Next 12 Months)$262.0M$16.0M-$473.0M-$298.0M-$178.0M-$69.0M
Gross Assets/Liabilities$345.0M$268.0M$855.0M$492.0M$324.0M$229.0M
Long-term debt interest payments - 2024$1.1B———$1.7B—
Long-term debt interest payments - 2025$1.1B———$1.6B—
Long-term debt interest payments - 2026$1.0B———$1.5B—
Accrual for Environmental Loss Contingencies$41.0M———$42.0M—
Allowance for doubtful accounts$89.0M$93.0M$94.0M$93.0M$97.0M$103.0M
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax$0.0$0.0$0.0$0.0$0.0$0.0
Gross Unrealized Gains$0.0$0.0$0.0$0.0$0.0$0.0
Total$536.0M$690.0M$707.0M$145.0M$101.0M$476.0M
Available for sale investments$536.0M$690.0M$707.0M$145.0M$101.0M$476.0M
Common stock, par value (in dollars per share)$0.50$0.50$0.50$0.50$0.50$0.50
Common stock, shares authorized (in shares)6.5B6.5B6.5B6.5B6.5B6.5B
Common stock, shares issued (in shares)3.6B3.6B3.6B3.6B3.6B3.6B
Construction work in progress$8.0B———$9.2B—
Short-term debt and current portion of long-term debt$2.6B$1.4B$1.4B$1.4B$2.6B$2.4B
Debt Instrument, Fair Value Disclosure$32.6B$30.6B$31.3B$37.7B$45.6B$44.7B
Debt Securities and Equity Securities, FV-NI$1.5B$1.7B$1.9B$1.7B$1.5B$2.0B
Deferred Tax Liabilities, Gross$3.1B———$5.6B—
Deferred income taxes$1.4B$1.4B$1.4B$1.4B$1.4B$1.5B
Deferred Tax Assets, Goodwill and Intangible Assets$71.0M———$140.0M—
Deferred Tax Assets, Gross$6.0B———$7.6B—
Deferred Tax Assets, Net$2.2B———$1.2B—
Deferred Tax Assets, Net of Valuation Allowance$5.3B———$6.7B—
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Benefits$224.0M———$117.0M—
Deferred Tax Assets, Valuation Allowance$710.0M———$824.0M—
Federal and state intangible assets$978.0M———$3.3B—
Deferred Tax Liabilities, Other$159.0M———$134.0M—
Deferred Tax Liabilities, Property, Plant and Equipment$645.0M———$594.0M—
Derivative Asset, Subject to Master Netting Arrangement, after Offset$265.0M$148.0M$97.0M$69.0M$77.0M$248.0M
Potential reduction in net position of total derivative assets————$245.0M$225.0M
Margin cash collateral received from counterparties that was not offset against derivative assets————$1.0M$89.0M
Margin cash collateral provided to counterparties that was not offset against derivative assets or liabilities————$0.0$0.0
Derivative, gross, assets$729.0M$410.0M$546.0M$316.0M$323.0M$562.0M
Derivatives, gross, liabilities$345.0M$268.0M$855.0M$492.0M$324.0M$229.0M
Derivative Liability$345.0M$268.0M$855.0M$492.0M$324.0M$229.0M
Derivative Liability, Subject to Master Netting Arrangement, after Offset$46.0M$29.0M$313.0M$246.0M$79.0M$4.0M
Potential reduction in net position of total derivative liabilities$299.0M$239.0M$445.0M$246.0M$245.0M$225.0M
Notional$38.6B$42.4B$44.7B$42.9B$40.3B$42.1B
Trading securities, cost$863.0M$872.0M$870.0M$834.0M$831.0M$881.0M
Finite-Lived Intangible Assets, Accumulated Amortization$25.8B———$28.7B—
2028$2.3B———$3.6B—
2030$1.8B———$3.0B—
2031$1.5B———$2.7B—
2027$2.4B———$3.8B—
2029$2.1B———$3.3B—
Goodwill accumulated impairment losses$531.0M———$531.0M—
Carrying values of hedged liabilities————$1.8B$2.5B
Cumulative amount of fair value hedging adjustment————$70.0M$57.0M
Indefinite- lived intangible impairment$42.2B———$55.4B—
Inventory, LIFO Reserve————$912.0M$1.0B
Inventory Net And Inventory Noncurrent$10.3B$10.8B$11.5B$11.9B$12.3B$12.7B
Raw materials and work in process$8.8B$9.2B$9.9B$10.2B$10.6B$11.1B
Committed Revolving Credit Facilities$6.0B———$6.0B—
2028$2.2B———$2.7B—
2029$1.5B———$2.1B—
2029$1.7B———$2.7B—
2030$2.1B———$3.0B—
2027$2.6B———$2.6B—
Noncontrolling interests in subsidiaries$59.0M$65.0M$67.0M$57.0M$56.0M$53.0M
Other financial assets$546.0M———$537.0M$567.0M
Preferred Stock, Shares Authorized$20.0M———$20.0M—
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price$85.1———$87.7—
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number$9.1M———$9.3M—
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number$12.5M———$12.5M—
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number$12.2M———$12.2M—
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value$249.0M———$272.0M—
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price$86.0———$88.0—
Incentive stock program, shares reserved for future grants (in shares)$75.0M———$66.0M—
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value$249.0M———$275.0M—
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price$74.0———$82.1—
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value$241.0M———$244.0M—
Stockholders' Equity before Treasury Stock$104.6B$107.7B$109.5B$113.6B$115.6B$109.6B
Tax Cuts and Jobs Act payment————$1.2B—
Treasury stock, shares (in shares)1B1.1B1.1B1.1B1.1B1.1B
Unrecognized tax benefits$2.3B———$2.5B—
Penalties and interest accrued on unrecognized tax benefits$437.0M———$546.0M—
Amount that if recognized, would affect the effective tax rate or regulatory liability$2.2B———$2.5B—
Unrecorded Unconditional Purchase Obligation$183.0M———$400.0M—
Unrecorded Unconditional Purchase Obligation$183.0M———$400.0M—

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accumulated other comprehensive income (loss)-$4.9B-$5.0B-$5.4B-$5.2B-$4.3B-$4.1B
Common Stock Shares Outstanding$249.0M———$275.0M—
Convertible Preferred Stock Authorized Shares20M———20M—
Cumulative Gross Losses and Impairments$531.0M———$531.0M—
Additional paid-in capital$44.7B$44.8B$44.6B$44.8B$45.0B$45.2B
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively$1.8B$1.8B$1.8B$1.8B$1.8B$1.8B
Number of Exercisable Options$241.0M———$244.0M—
Number of Vested and Expected to Vest Options$249.0M———$272.0M—
Retained earnings$63.1B$66.1B$68.5B$72.2B$73.1B$66.7B
Shares Reserved for Future Issuance Under Stock Plans75M———66M—
Total liabilities and stockholders' equity$117.1B$115.1B$117.5B$129.5B$136.9B$128.7B
Total stockholders' equity$46.3B$48.3B$49.0B$51.9B$52.6B$45.9B
Treasury stock$58.3B$59.4B$60.5B$61.8B$63.0B$63.7B
Weighted Average Exercise Price of Outstanding Options$86.04———$87.95—
Weighted Average Exercise Price of Vested and Expected to Vest Options$85.10———$87.73—

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Debt Maturity - 2027$1.7B———$2.7B—
Deferred tax liabilities$3.1B———$5.6B—
Deferred Tax Liabilities - Foreign Earnings$371.0M———$338.0M—
Long-term debt$37.1B$34.8B$35.4B$41.4B$49.3B$49.1B
Other non-current liabilities$6.5B$6.7B$7.0B$7.7B$7.7B$7.6B
Secured Borrowings Cash Right to Reclaim$0.0$0.0$97.0M$0.0$0.0$0.0
Total liabilities$538.0M———$324.0M$229.0M
Unrecognized Tax Benefits$2.3B———$2.5B—
Unrecognized Tax Benefits - Impacting Effective Tax Rate$2.2B———$2.5B—
Unrecognized Tax Benefits - Income Tax Penalties and Interest Accrued$437.0M———$546.0M—