What is Merck & Co.'s deferred taxes?

Merck & Co. (MRK) reported deferred taxes of -$315M in Q1 2026.

How has Merck & Co.'s deferred taxes changed year-over-year?

Merck & Co.'s deferred taxes decreased by 69.4% year-over-year, from -$186M to -$315M.

What is the long-term trend for Merck & Co.'s deferred taxes?

Over 4 years (2021 to 2025), Merck & Co.'s deferred taxes has grown at a 72.7% compound annual growth rate (CAGR), from $188M to -$1.67B.

What does deferred taxes mean?

Non-cash deferred tax expense or benefit representing the change in deferred tax assets/liabilities during the period.

Merck & Co. MRK Deferred Taxes

Deferred Taxes at other companies

Bristol-Myers SquibbBMY

$161M-27.8%

PfizerPFE

-$12M+98.2%

Johnson & JohnsonJNJ

$159M-92.7%

Phibro Animal HealthPAHC

$3.66M+692%

United TherapeuticsUTHR

$25.9M—

ZoetisZTS

$34M+143%

Other financials

Income statement

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Revenue$16.3B+4.9%

Gross profit$12.1B-0.2%

Net income-$4.2B-183%

EPS (diluted)-$1.72-186%

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$317.37B+60.3%

Enterprise value$361.07B+59.3%

P/E35.5×+23.5×

P/S4.8×+1.7×

Profitability

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Gross margin73.9%-2.5pp

Net margin13.6%-13.7pp

FCF margin21.5%-5.2pp

Returns & leverage

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Return on equity19%-20.3pp

Debt / equity1.1×+0.3×

Current ratio1.3×-0.1×

Where this comes from

Reported directly by Merck & Co. in its filing.

Tagged under the XBRL concept us-gaap:DeferredIncomeTaxExpenseBenefit.

The official record: Merck & Co.’s 10-Q, filed May 4, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Merck & Co.'s deferred taxes?: Merck & Co. (MRK) reported deferred taxes of -$315M in Q1 2026.
How has Merck & Co.'s deferred taxes changed year-over-year?: Merck & Co.'s deferred taxes decreased by 69.4% year-over-year, from -$186M to -$315M.
What is the long-term trend for Merck & Co.'s deferred taxes?: Over 4 years (2021 to 2025), Merck & Co.'s deferred taxes has grown at a 72.7% compound annual growth rate (CAGR), from $188M to -$1.67B.
What does deferred taxes mean?: Non-cash deferred tax expense or benefit representing the change in deferred tax assets/liabilities during the period.