Merck & Co.
MRK stock analysis · Health Care · Pharmaceuticals
As of · fund-implied per-share value
Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.
View SEC fund filing ↗Price × SEC outstanding shares. Shares measured 2026-04-30. Approximate; share and price dates can differ.
View share-count filing ↗DCF value
Equity cash-flow scenario · SEC outstanding shares at 2026-04-30 · -40.8% versus input cap
How this is calculated ↗Reverse DCF
Annual basis · read assumptions below
How this is calculated ↗Relative valuation
5 industry peers · median 17.7×
How this is calculated ↗Historical multiples
7 annual observations · snapshot P/E 17.4× · -17.3% versus history
How this is calculated ↗Free cash flow yield
Annual basis · read assumptions below
How this is calculated ↗ROIC / quality
Requires two adjacent years of positive average capital, equity, cash, debt and operating income.
How this is calculated ↗Value composite
Annual basis · read assumptions below
How this is calculated ↗12–1 price momentum
Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.
How this is calculated ↗Asset growth
Annual basis · read assumptions below
How this is calculated ↗Net payout yield
Annual basis · read assumptions below
How this is calculated ↗Accrual quality
Annual basis · read assumptions below
How this is calculated ↗Fundamental momentum
Requires two adjacent years of revenue, operating income and cash flow.
How this is calculated ↗Follow the cash
ANNUAL · USDOperating cash flow and reinvestment over time
Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.
Make the assumptions yours
How sensitive is the valuation?
| Return / Growth | 3.0% | 5.0% | 7.0% |
|---|---|---|---|
| 8.0% | $95.34 | $104.02 | $113.36 |
| 10.0% | $69.86 | $76.01 | $82.61 |
| 12.0% | $55.12 | $59.81 | $64.84 |
Annual financial history
Open SEC filings ↗| Fiscal year-end | Revenue | Net income | Operating cash flow | Capital expenditure | Assets |
|---|---|---|---|---|---|
| 2025-12-31 | 65B | 18.3B | 16.5B | 4.1B | 136.9B |
| 2024-12-31 | 64.2B | 17.1B | 21.5B | 3.4B | 117.1B |
| 2023-12-31 | 60.1B | 377M | 13B | 3.9B | 106.7B |
| 2022-12-31 | 59.3B | 14.5B | 19.1B | 4.4B | 109.2B |
| 2021-12-31 | 48.7B | 13B | 13.1B | 4.4B | 105.7B |
| 2020-12-31 | 41.5B | 7.1B | 10.3B | 4.4B | 91.6B |
| 2019-12-31 | 39.1B | 9.8B | 13.4B | 3.4B | 84.4B |
| 2018-12-31 | 42.3B | 6.2B | 10.9B | 2.6B | 82.6B |
USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.
Trace the inputs
MODEL ANNUAL PERIOD| Input | Value | SEC tag / source | Filed |
|---|---|---|---|
| revenue | 65B | Revenues | 2026-02-24 |
| netIncome | 18.3B | ProfitLoss Explicit consolidated amount, including the portion attributable to noncontrolling interests. | 2026-02-24 |
| Parent/common earnings proxy | 18.3B | NetIncomeLossAvailableToCommonStockholdersBasic | 2026-02-24 |
| cfo | 16.5B | NetCashProvidedByUsedInOperatingActivities | 2026-02-24 |
| capex | 4.1B | PaymentsToAcquirePropertyPlantAndEquipment | 2026-02-24 |
| operatingIncome | — | Not reported under a supported tag | — |
| assets | 136.9B | Assets | 2026-02-24 |
| equity | 52.7B | StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest Explicit consolidated amount, including the portion attributable to noncontrolling interests. | 2026-02-24 |
| Parent book equity proxy | 52.6B | StockholdersEquity | 2026-02-24 |
| debt | 49.1B | LongTermDebtCurrent + LongTermDebtNoncurrent | 2026-02-24 |
| shortDebt | — | Not reported under a supported tag | — |
| cash | 14.6B | CashAndCashEquivalentsAtCarryingValue | 2026-02-24 |
| shares | 2.5B | WeightedAverageNumberOfDilutedSharesOutstanding | 2026-02-24 |
| dividends | 8.2B | PaymentsOfDividendsCommonStock | 2026-02-24 |
| buybacks | 5.1B | PaymentsForRepurchaseOfCommonStock | 2026-02-24 |
| issuance | 92M | Reviewed manual correction Bounded FY2025-12-31 consolidated financing-statement extraction. Proceeds from exercise of stock options: 92000000 USD [us-gaap:ProceedsFromStockOptionsExercised]. All 6 financing lines reconcile exactly to reported financing cash flow -1922000000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: the statement also aggregates other financing cash flows (net -131000000 USD). Their common-equity portion is not separately disclosed here. Issuance is the sum of separately reported common cash-issuance lines, not an independently verified gross total; additional equity flows may be inside those aggregates. | 2026-02-24 |