Merck & Co. R&D decreased by 8.2% to $3.89B in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 15.2%, from $4.58B to $3.89B. Over 4 years (FY 2021 to FY 2025), R&D shows an upward trend with a 6.6% CAGR.
Analysis
StatementIncome Statement
SectionOperating Expenses
CategoryGrowth
SignalContext dependent
VolatilityStable
First reportedQ4 2013
Last reportedQ4 2025
How to read this metric
High spending signals a commitment to future growth and innovation, though it reduces current period earnings.
Detailed definition
Expenses related to the development of new products, services, and technologies, as well as the improvement of existing...
Peer comparison
Tech leaders often spend a significant percentage of revenue on R&D to prevent disruption by competitors.
Metric ID:
is_research_and_developmentHistorical Data
19 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $4.32B | $2.45B | $3.01B | $2.58B | $2.80B | $4.40B | $3.78B | $4.28B | $13.32B | $3.31B | $9.63B | $3.99B | $3.50B | $5.86B | $4.58B | $3.62B | $4.05B | $4.23B | $3.89B |
| QoQ Change | — | -43.4% | +23.3% | -14.5% | +8.6% | +57.2% | -14.2% | +13.3% | +211.5% | -75.2% | +191.1% | -58.5% | -12.3% | +67.5% | -21.8% | -21.0% | +11.8% | +4.6% | -8.2% |
| YoY Change | — | — | — | — | -35.2% | +79.9% | +25.2% | +66.0% | +376.1% | -24.8% | +155.0% | -6.6% | -73.7% | +77.3% | -52.4% | -9.3% | +15.7% | -27.8% | -15.2% |
Range$2.45B – $13.32B
CAGR-2.3%
Avg YoY Growth+36.7%
Median YoY Growth-6.6%
Business Segments
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R&D at Other Companies
Frequently Asked Questions
- What is Merck & Co.'s r&d?
- Merck & Co. (MRK) reported r&d of $3.89B in Q4 2025.
- How has Merck & Co.'s r&d changed year-over-year?
- Merck & Co.'s r&d decreased by 15.2% year-over-year, from $4.58B to $3.89B.
- What is the long-term trend for Merck & Co.'s r&d?
- Over 4 years (2021 to 2025), Merck & Co.'s r&d has grown at a 6.6% compound annual growth rate (CAGR), from $12.25B to $15.79B.
- What does r&d mean?
- The money spent on creating new technology and improving existing products.