Merck & Co. MRK Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 73.9%-2.5pp | 74.8%-1.5pp | 77.2%+1.4pp | 76.6%+1.3pp | 76.4%+2.1pp | |
| Net margin | 13.6%-13.7pp | 28.1%+1.4pp | 29.6%— | 25.8%— | 27.3%— | |
| EBITDA margin | 22.4%-12.4pp | 37.1%+2.7pp | 37.2%— | 33.4%— | 34.8%— | |
| Free cash flow margin | 21.5%-5.2pp | 19%-9.2pp | 20.3%-4.4pp | 23.1%+0.9pp | 26.7%+7.5pp | |
| Returns | ||||||
| Return on equity | 19%-20.3pp | 36.9%-3.9pp | 39.5%— | 35.4%— | 39.3%— | |
| Return on assets | 7.3%-8.4pp | 14.4%-0.9pp | 15.4%— | 14.3%— | 15.8%— | |
| Return on invested capital | 10.8%-12.8pp | 22.2%-1.9pp | 25.8%— | 21.8%— | 23.6%— | |
| Efficiency | ||||||
| Asset turnover | 0.5×0.0× | 0.5×-0.1× | 0.5×0.0× | 0.6×0.0× | 0.6×0.0× | |
| Inventory turnover | 3.2×-0.6× | 3.3×-0.7× | 3.1×-1.2× | 3.6×-1.1× | 3.8×-0.9× | |
| Liquidity | ||||||
| Current ratio | 1.3×-0.1× | 1.5×+0.2× | 1.7×+0.3× | 1.4×0.0× | 1.4×+0.2× | |
| Quick ratio | 1.1×-0.2× | 1.3×+0.1× | 1.5×+0.2× | 1.2×-0.1× | 1.2×+0.1× | |
| Cash ratio | 0.2×-0.1× | 0.5×0.0× | 0.6×+0.1× | 0.3×-0.1× | 0.3×+0.1× | |
| Leverage | ||||||
| Debt-to-equity | 1.1×+0.3× | 1×+0.1× | 0.8×-0.1× | 0.8×-0.2× | 0.7×-0.2× | |
| Debt-to-assets | 0.4×+0.1× | 0.4×0.0× | 0.3×0.0× | 0.3×0.0× | 0.3×0.0× | |
| Net debt / EBITDA | 3×+1.7× | 1.6×+0.3× | 1×— | 1.4×— | 1.2×— | |
| Valuation | ||||||
| Market capitalization | $297.4B+31.2% | $261.26B+3.8% | $209.64B-27.1% | $201.69B-35.7% | $226.74B-32.2% | |
| Enterprise value | $341.11B+34.2% | $299.36B+7.3% | $234.18B-25.5% | $230.45B-32.8% | $254.17B-30.5% | |
| Price / earnings | 33.3×+20.3× | 14.3×-0.4× | 11×— | 12.3×— | 13×— | |
| Price / sales | 4.5×+1.0× | 4×+0.1× | 3.3×-1.3× | 3.2×-1.8× | 3.5×-1.9× | |
| Price / book | 6.5×+1.8× | 5×-0.5× | 4×-2.4× | 4.1×-3.1× | 4.7×-3.6× | |
| EV / EBITDA | 23.1×+11.7× | 12.4×-0.2× | 9.8×— | 10.8×— | 11.4×— | |
| EV / sales | 5.2×+1.2× | 4.6×+0.3× | 3.6×-1.3× | 3.6×-1.9× | 4×-2.0× | |
| Free cash flow yield | 4.7%-2.8pp | 4.7%-2.5pp | 6.2%+0.8pp | 7.3%+2.9pp | 7.5%+4.0pp | |
| Earnings yield | 3%-4.7pp | 7%+0.2pp | 9.1%— | 8.1%— | 7.7%— | |
| Dividend yield | 2.8%-0.7pp | 3.1%0.0pp | 3.9%+1.2pp | 4%+1.5pp | 3.5%+1.2pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →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.
