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Merck & Co. MRK Return on invested capital

Return on invested capital at other companies

Bristol-Myers Squibb logo
Bristol-Myers SquibbBMY
16.7%+8.4pp
Pfizer logo
PfizerPFE
6%
Johnson & Johnson logo
Johnson & JohnsonJNJ
19.2%+1.3pp
Regeneron Pharmaceuticals logo
Regeneron PharmaceuticalsREGN
10.3%-1.5pp
Phibro Animal Health logo
Phibro Animal HealthPAHC
46.7%+20.6pp
Zoetis logo
ZoetisZTS
27%-0.4pp

Other financials

Income statement

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Revenue$16.6B+5.1%
Gross profit$12.1B-0.2%
Net income-$1.3B-130%
EPS (diluted)-$0.54-131%

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$321.57B+60.4%
Enterprise value$365.27B+34.2%
P/E101.4×+89.2×
P/S4.8×+1.7×

Profitability

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Gross margin73.9%-2.5pp
Net margin4.8%-21.0pp
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

Calculated from Merck & Co.’s reported figures.

Based on trailing twelve months.

The source filing: Merck & Co.’s 10-Q, filed May 4, 2026. Open the filing →

Filed
May 4, 2026, 4:10 PM EDT
Fiscal quarter
Q3 FY2028
Calendar quarter
Q3 2028
Accession
0001628280-26-029802

FAQ

What is Merck & Co.'s return on invested capital?
Merck & Co. (MRK) reported return on invested capital of 10.8% in Q1 2026.
How has Merck & Co.'s return on invested capital changed year-over-year?
Merck & Co.'s return on invested capital decreased by 54.3% year-over-year, from 23.6% to 10.8%.
What is the long-term trend for Merck & Co.'s return on invested capital?
Over 3 years (2021 to 2025), Merck & Co.'s return on invested capital has grown at a 2.5% compound annual growth rate (CAGR), from 20.6% to 22.2%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

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