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Merck & Co., Inc. (MRK) stock

MRKNYSEPharmaceutical PreparationsFiscal year ends December 31
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 7, 2026Score 9/30242% above fair value
$146.33+5.40 (+3.83%)

Close on Oct 29, 2026Market cap $361.02BP/E 117.1Yield 2.24%

Earnings

Merck's quarterly results as reported in its earnings releases, with the company's own outlook. Hover a number to see the sentence it came from.

Next report
Feb 2, 2027
Q4 FY2026 · estimated, before the open
Revenue, Q3 FY2026
$18.10B
+4.6% on a year earlier
Non-GAAP EPS, Q3 FY2026
$2.49
$2.58 a year earlier
Latest guidance
Lowered
Oct 29, 2026 · 7 items

Quarterly results

Revenue and earnings per share from each of Merck's earnings releases, newest first

QuarterReportedRevenueYoYEPSAdj. EPSSource
Q4 FY2026ended Dec 31, 2026Feb 2, 2027Expected–––––
Q3 FY2026ended Sep 30, 2026Oct 29, 2026before the open$18.10B+4.6%$2.04$2.49Release
Q2 FY2026ended Jun 30, 2026Aug 4, 2026before the open$16.60B+5.1%-$0.54-$0.13Release
Q1 FY2026ended Mar 31, 2026Apr 30, 2026before the open$16.30B+5.2%-$1.72-$1.28Release
Q4 FY2025ended Dec 31, 2025Feb 3, 2026before the open$16.40B+5.1%$1.19$2.04Release
Q3 FY2025ended Sep 30, 2025Oct 30, 2025before the open$17.30B+3.6%$2.32$2.58Release
Q2 FY2025ended Jun 30, 2025Jul 29, 2025before the open$15.80B-1.9%$1.76$2.13Release
Q1 FY2025ended Mar 31, 2025Apr 24, 2025before the open$15.50B-1.9%$2.01$2.22Release
Q4 FY2024ended Dec 31, 2024Feb 4, 2025before the open$15.60B+6.8%$1.48$1.72Release
Q3 FY2024ended Sep 30, 2024Oct 31, 2024before the open$16.70B+4.4%$1.24$1.57Release
Q2 FY2024ended Jun 30, 2024Jul 30, 2024before the open$16.10B+7.3%$2.14$2.28Release
Q1 FY2024ended Mar 31, 2024Apr 25, 2024before the open$15.80B+9.0%$1.87$2.07Release

Figures as first announced; later restatements appear under Financials. Expected dates are estimated from the company's past reporting pattern.

Current guidance

Merck's latest outlook for periods it has not reported yet, compared with what it said before

MetricPeriodGuidanceBeforeChangeGiven
SalesGAAPFY2026$66.80B – $67.30B–NewOct 29, 2026
SalesFY2026$66.30B – $67.30B$65.80B – $67.00BRaisedAug 4, 2026
Non-GAAP Gross marginnon-GAAPFY202681%–NewOct 29, 2026
Non-GAAP Gross marginnon-GAAPFY202681%82%LoweredAug 4, 2026
non-GAAP EPSnon-GAAPFY2026$2.77 – $2.82–NewOct 29, 2026
Non-GAAP EPSnon-GAAPFY2026$2.66 – $2.76$5.04 – $5.16LoweredAug 4, 2026
non-GAAP effective income tax ratenon-GAAPFY202632% – 33%–NewOct 29, 2026
Non-GAAP Effective income tax ratenon-GAAPFY202635% – 36%23.5% – 24.5%RaisedAug 4, 2026
Non-GAAP Effective tax ratenon-GAAPFY202623.5% – 24.5%–NewFeb 3, 2026
Non-GAAP Operating expensesnon-GAAPFY2026$42.40B – $42.90B–NewOct 29, 2026
Non-GAAP Operating expensesnon-GAAPFY2026$42.00B – $42.70B$36.00B – $36.80BRaisedAug 4, 2026
Non-GAAP Other (income) expense, netnon-GAAPFY2026$1.40B–LoweredOct 29, 2026
Non-GAAP Other (income) expense, netnon-GAAPFY2026$1.40B$1.30BLoweredAug 4, 2026
Share count (assuming dilution)FY20262.48–NewOct 29, 2026
Share count (assuming dilution)FY20262.48–NewApr 30, 2026

Guidance vs results

The last range Merck gave before each report, against the figure it then reported. Full years add up the four quarters.

PeriodMetricGuidanceActualResult
FY2025non-GAAP EPS$8.93 – $8.98$8.97Σ4QWithin range
FY2025Revenue$64.50B – $65.00B$65.00BΣ4QWithin range

Guidance history

Every forecast Merck put in an earnings release, newest first

GivenMetricPeriodGuidanceChange
Oct 29, 2026non-GAAP EPSFY2026$2.77 – $2.82New
Oct 29, 2026Non-GAAP Gross marginFY202681%New
Oct 29, 2026Share count (assuming dilution)FY20262.48New
Oct 29, 2026Non-GAAP Operating expensesFY2026$42.40B – $42.90BNew
Oct 29, 2026Non-GAAP Other (income) expense, netFY2026$1.40BLowered
Oct 29, 2026non-GAAP effective income tax rateFY202632% – 33%New
Oct 29, 2026SalesFY2026$66.80B – $67.30BNew
Aug 4, 2026Non-GAAP EPSFY2026$2.66 – $2.76Lowered
Aug 4, 2026Non-GAAP Gross marginFY202681%Lowered
Aug 4, 2026Non-GAAP Operating expensesFY2026$42.00B – $42.70BRaised
Aug 4, 2026Non-GAAP Effective income tax rateFY202635% – 36%Raised
Aug 4, 2026Non-GAAP Other (income) expense, netFY2026$1.40BLowered
Aug 4, 2026SalesFY2026$66.30B – $67.30BRaised
Apr 30, 2026non-GAAP EPSFY2026$5.04 – $5.16Raised
Apr 30, 2026Non-GAAP Gross marginFY202682%Reaffirmed
Apr 30, 2026non-GAAP effective income tax rateFY202623.5% – 24.5%Reaffirmed
Apr 30, 2026Share count (assuming dilution)FY20262.48New
Apr 30, 2026Non-GAAP Operating expensesFY2026$36.00B – $36.80BRaised
Apr 30, 2026Non-GAAP Other (income) expense, netFY2026$1.30BLowered
Apr 30, 2026SalesFY2026$65.80B – $67.00BRaised

Read from the company's earnings releases; each figure links to its sentence on hover. “Raised” and “Lowered” compare with the previous range for the same metric and period.

Press releases

Releases Merck filed with the SEC as exhibits to Form 8-K or 6-K

  1. Merck & Co., Inc., Rahway, N.J.,
    Results
  2. & CO., INC., RAHWAY, N.J., USA
    Results
  3. Merck & Co., Inc., Rahway, N.J., USA Announces
    Results
  4. MERCK & CO., INC., RAHWAY, N.J., USA
    Results
  5. Co., Inc., Rahway, N.J., USA Announces First-Quarter 2026 Financial Results; Highlights Significant Regulatory Approvals and Clinical
    Results
  6. & CO., INC., RAHWAY, N.J., USA
    Results
  7. & Co., Inc., Rahway, N.J., USA Announces Fourth-Quarter and Full-Year 2025 Financial Results ;
    Results
  8. & CO., INC., RAHWAY, N.J., USA
    Results
  9. Inc., Rahway, N.J., USA Announces Third-Quarter 2025 Financial Results
    Results
  10. MERCK & CO., INC., RAHWAY, N.J., USA
    Results
  11. Merck & Co., Inc., Rahway, N.J.,
    Results
  12. MERCK & CO., INC., RAHWAY, N.J., USA
    Results
  13. Merck Announces First-Quarter 2025 Financial
    Results
  14. CONSOLIDATED STATEMENT OF INCOME - GAAP
    Results
  15. Merck Announces Fourth-Quarter and Full-Year
    Results