Where do Merck & Co.'s ratios come from?

Every ratio is computed from Merck & Co.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Merck & Co. MRK Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	73.9%-0.9pp	74.8%-2.4pp	77.2%+0.6pp	76.6%+0.2pp	76.4%+0.1pp
Net margin	13.6%-14.5pp	28.1%-1.6pp	29.6%+3.8pp	25.8%-1.5pp	27.3%+0.6pp
EBITDA margin	22.4%-14.7pp	37.1%-0.1pp	37.2%+3.8pp	33.4%-1.4pp	34.8%+0.5pp
Free cash flow margin	21.5%+2.4pp	19%-1.3pp	20.3%-2.8pp	23.1%-3.5pp	26.7%-1.5pp
Returns
Return on equity	19%-17.9pp	36.9%-2.6pp	39.5%+4.1pp	35.4%-3.9pp	39.3%-1.5pp
Return on assets	7.3%-7.0pp	14.4%-1.0pp	15.4%+1.2pp	14.3%-1.5pp	15.8%+0.5pp
Return on invested capital	10.8%-11.4pp	22.2%-3.6pp	25.8%+4.1pp	21.8%-1.9pp	23.6%-0.5pp
Efficiency
Asset turnover	0.5×0.0×	0.5×0.0×	0.5×0.0×	0.6×0.0×	0.6×0.0×
Inventory turnover	3.2×-0.1×	3.3×+0.2×	3.1×-0.5×	3.6×-0.2×	3.8×-0.2×
Liquidity
Current ratio	1.3×-0.2×	1.5×-0.1×	1.7×+0.2×	1.4×0.0×	1.4×0.0×
Quick ratio	1.1×-0.3×	1.3×-0.1×	1.5×+0.2×	1.2×0.0×	1.2×0.0×
Cash ratio	0.2×-0.3×	0.5×-0.1×	0.6×+0.3×	0.3×0.0×	0.3×-0.1×
Leverage
Debt-to-equity	1.1×+0.1×	1×+0.2×	0.8×+0.1×	0.8×0.0×	0.7×-0.1×
Debt-to-assets	0.4×0.0×	0.4×+0.1×	0.3×0.0×	0.3×0.0×	0.3×0.0×
Net debt / EBITDA	3×+1.4×	1.6×+0.6×	1×-0.3×	1.4×+0.1×	1.2×0.0×
Valuation
Market capitalization	$297.4B+13.8%	$261.26B+24.6%	$209.64B+3.9%	$201.69B-11.0%	$226.74B-9.9%
Enterprise value	$341.11B+13.9%	$299.36B+27.8%	$234.18B+1.6%	$230.45B-9.3%	$254.17B-8.9%
Price / earnings	33.3×+19.0×	14.3×+3.3×	11×-1.3×	12.3×-0.7×	13×-1.7×
Price / sales	4.5×+0.5×	4×+0.8×	3.3×+0.1×	3.2×-0.4×	3.5×-0.4×
Price / book	6.5×+1.5×	5×+0.9×	4×-0.1×	4.1×-0.6×	4.7×-0.7×
EV / EBITDA	23.1×+10.7×	12.4×+2.6×	9.8×-1.0×	10.8×-0.6×	11.4×-1.2×
EV / sales	5.2×+0.6×	4.6×+1.0×	3.6×0.0×	3.6×-0.4×	4×-0.4×
Free cash flow yield	4.7%0.0pp	4.7%-1.5pp	6.2%-1.1pp	7.3%-0.2pp	7.5%+0.3pp
Earnings yield	3%-4.0pp	7%-2.1pp	9.1%+0.9pp	8.1%+0.4pp	7.7%+0.9pp
Dividend yield	2.8%-0.4pp	3.1%-0.7pp	3.9%-0.1pp	4%+0.5pp	3.5%+0.4pp

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Questions, answered.

Where do Merck & Co.'s ratios come from?: Every ratio is computed from Merck & Co.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.