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

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	302.5%-2.5pp	305%-1.5pp	306.5%+1.4pp	305.2%+1.3pp	303.8%+2.1pp
Net margin	97.1%-13.7pp	110.8%+1.4pp	109.4%—	——	——
EBITDA margin	130.1%-12.4pp	142.5%+2.7pp	139.8%—	——	——
Free cash flow margin	83.9%-5.2pp	89.1%-9.2pp	98.3%-4.4pp	102.7%+0.9pp	101.8%+7.5pp
Returns
Return on equity	130.8%-20.3pp	151.2%-3.9pp	155.1%—	——	——
Return on assets	51.4%-8.4pp	59.8%-0.9pp	60.7%—	——	——
Return on invested capital	80.6%-12.8pp	93.4%-1.9pp	95.3%—	——	——
Efficiency
Asset turnover	2.1×0.0×	2.2×-0.1×	2.2×0.0×	2.3×0.0×	2.3×0.0×
Inventory turnover	13.2×-0.6×	13.8×-0.7×	14.5×-1.2×	15.7×-1.1×	16.7×-0.9×
Liquidity
Current ratio	5.9×-0.1×	6×+0.2×	5.9×+0.3×	5.6×0.0×	5.6×+0.2×
Quick ratio	5.1×-0.2×	5.3×+0.1×	5.2×+0.2×	4.9×-0.1×	5×+0.1×
Cash ratio	1.7×-0.1×	1.8×+0.1×	1.8×+0.1×	1.6×-0.1×	1.7×+0.1×
Leverage
Debt-to-equity	3.7×+0.3×	3.3×+0.1×	3.2×-0.1×	3.3×-0.2×	3.5×-0.2×
Debt-to-assets	1.4×+0.1×	1.3×0.0×	1.3×0.0×	1.3×0.0×	1.4×0.0×
Net debt / EBITDA	6.9×+1.7×	5.2×+0.3×	4.9×—	——	——
Valuation
Market capitalization	$969.99B+7.9%	$899.32B+1.1%	$889.71B-8.1%	$967.83B-10.4%	$1.08T-9.1%
Enterprise value	$1.11T+8.5%	$1.02T+2.0%	$997.89B-7.4%	$1.08T-9.5%	$1.19T-8.6%
Price / earnings	70.9×+20.3×	50.6×-0.4×	51×—	——	——
Price / sales	15×+1.0×	14×+0.1×	13.9×-1.3×	15.2×-1.8×	17×-1.9×
Price / book	19.6×+1.8×	17.8×-0.5×	18.3×-2.4×	20.7×-3.1×	23.8×-3.6×
EV / EBITDA	56.2×+11.7×	44.5×-0.2×	44.7×—	——	——
EV / sales	17.1×+1.2×	15.8×+0.3×	15.6×-1.3×	16.9×-1.9×	18.8×-2.0×
Free cash flow yield	23%-2.8pp	25.8%-2.5pp	28.2%+0.8pp	27.4%+2.9pp	24.6%+4.0pp
Earnings yield	27.2%-4.7pp	31.9%+0.2pp	31.7%—	——	——
Dividend yield	13.7%-0.7pp	14.5%0.0pp	14.5%+1.2pp	13.3%+1.5pp	11.7%+1.2pp

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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.