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Merck & Co. MRK Debt-to-equity

Debt-to-equity at other companies

Bristol-Myers Squibb logo
Bristol-Myers SquibbBMY
1.9×-0.9×
Pfizer logo
PfizerPFE
0.7×0.0×
Johnson & Johnson logo
Johnson & JohnsonJNJ
0.6×-0.1×
Regeneron Pharmaceuticals logo
Regeneron PharmaceuticalsREGN
0.1×0.0×
Cytokinetics logo
CytokineticsCYTK
2.2×
Phibro Animal Health logo
Phibro Animal HealthPAHC
0.1×0.0×

Other financials

Income statement

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Revenue$16.6B+5.1%
Gross profit$12.1B-0.2%
Net income-$1.3B-130%
EPS (diluted)-$0.54-131%

Balance sheet

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Cash & equivalents$5.4B-38.2%
Total debt$49.1B+35.8%
Total equity$45.9B-5.1%
Total assets$128.69B+11.8%

Cash flow

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Operating cash flow$3.9B+56.7%
CapEx$991.0M-25.4%
Free cash flow$2.9B+150%

Valuation

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Market cap$321.57B+60.4%
Enterprise value$365.27B+34.2%
P/E101.4×+89.2×
P/S4.8×+1.7×

Profitability

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Gross margin73.9%-2.5pp
Net margin4.8%-21.0pp
FCF margin21.5%-5.2pp

Returns & leverage

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Return on equity19%-20.3pp
Current ratio1.3×-0.1×

Where this comes from

Calculated from Merck & Co.’s reported figures.

Based on the most recent quarter.

The source filing: Merck & Co.’s 10-Q, filed May 4, 2026. Open the filing →

Filed
May 4, 2026, 4:10 PM EDT
Fiscal quarter
Q3 FY2028
Calendar quarter
Q3 2028
Accession
0001628280-26-029802

FAQ

What is Merck & Co.'s debt-to-equity?
Merck & Co. (MRK) reported debt-to-equity of 1.1× in Q1 2026.
How has Merck & Co.'s debt-to-equity changed year-over-year?
Merck & Co.'s debt-to-equity increased by 43.1% year-over-year, from 0.7× to 1.1×.
What is the long-term trend for Merck & Co.'s debt-to-equity?
Over 5 years (2020 to 2025), Merck & Co.'s debt-to-equity has grown at a -6.6% compound annual growth rate (CAGR), from 1.4× to 1×.
What does debt-to-equity mean?
Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.

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