← Merck & Co., Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Accounts receivable (net of allowance for doubtful accounts of $97 in 2025 and $89 in 2024) | $7.0b | $6.9b | $7.1b | $6.8b | $7.9b | $9.2b | $9.4b | $10.3b | $10.3b | $11.8b | |
| Cash and Cash Equivalents, at Carrying Value | $6.5b | $6.1b | $8.0b | $9.7b | $8.1b | $8.1b | $12.7b | $6.8b | $13.2b | $14.6b | |
| Cash and cash equivalents | $6.5b | $6.1b | $8.0b | $9.7b | $8.1b | $8.1b | $12.7b | $6.8b | $13.2b | $14.6b | |
| Inventories (excludes inventories of $5,681 in 2025 and $4,193 in 2024 classified in Other assets - see Note 7) | $4.9b | $5.1b | $5.4b | $6.0b | $6.3b | $6.0b | $5.9b | $6.4b | $6.1b | $6.7b | |
| Other current assets | $4.4b | $4.3b | $4.5b | $4.3b | $5.5b | $7.0b | $7.2b | $8.4b | $8.7b | $10.5b | |
| Short-term Investments | $7.8b | $2.4b | $899.0m | $774.0m | $0 | $0 | $498.0m | $252.0m | $447.0m | $0 | |
| Inventory, Net | $4.9b | $5.1b | $5.4b | $6.0b | $6.3b | $6.0b | $5.9b | $6.4b | $6.1b | $6.7b | |
| Assets, Current | $30.6b | $24.8b | $25.9b | $27.5b | $27.8b | $30.3b | $35.7b | $32.2b | $38.8b | $43.5b | |
| Total current assets | $30.6b | $24.8b | $25.9b | $27.5b | $27.8b | $30.3b | $35.7b | $32.2b | $38.8b | $43.5b | |
| Property, Plant and Equipment, Net | $12.0b | $12.4b | $13.3b | $15.1b | $18.0b | $19.3b | $21.4b | $23.1b | $23.8b | $25.3b | |
| Goodwill | $18.2b | $18.3b | $18.3b | $19.4b | $20.2b | $21.3b | $21.2b | $21.2b | $21.7b | $21.6b | |
| Intangible Assets, Net (Excluding Goodwill) | $17.3b | $14.2b | $11.4b | $14.2b | $14.6b | $22.9b | $20.3b | $18.0b | $16.4b | $26.7b | |
| Other Intangibles, Net | $17.3b | $14.2b | $11.4b | $14.2b | $14.6b | $22.9b | $20.3b | $18.0b | $16.4b | $26.7b | |
| Operating Lease, Right-of-Use Asset | — | — | — | $1.1b | $1.7b | $1.6b | $1.3b | $1.4b | $1.4b | $1.5b | |
| Other Assets | $5.9b | $6.1b | $7.6b | $6.8b | $10.2b | $11.6b | $9.5b | $12.0b | $16.0b | $18.8b | |
| Other Assets, Noncurrent | — | — | — | — | — | — | — | $12.0b | $16.0b | $18.8b | |
| Additional Financial Items | |||||||||||
| Accounts Receivable, after Allowance for Credit Loss, Current | $7.0b | $6.9b | $7.1b | $6.8b | $7.9b | $9.2b | $9.4b | $10.3b | $10.3b | $11.8b | |
| Accrued and other current liabilities | $10.3b | $10.4b | $10.2b | $12.5b | $13.1b | $13.9b | $14.2b | $15.8b | $15.7b | $14.5b | |
| Buildings | $11.4b | $11.7b | $11.5b | $12.0b | $12.6b | $12.5b | $13.2b | $15.0b | $16.4b | $18.0b | |
| Construction in progress | $1.9b | $2.3b | $3.4b | $5.0b | $7.3b | $8.3b | $9.2b | $8.3b | $8.0b | $9.2b | |
| Deferred Income Taxes | $5.1b | $2.2b | $1.7b | $1.5b | $1.0b | $3.4b | $1.8b | $871.0m | $1.4b | $1.4b | |
| Income taxes payable | $2.2b | $708.0m | $2.0b | $736.0m | $1.6b | $1.2b | $2.0b | $2.6b | $3.9b | $4.7b | |
| Investments | $11.4b | $12.1b | $6.2b | $1.5b | $785.0m | $370.0m | $1.0b | $252.0m | $463.0m | $956.0m | |
| Land | $412.0m | $365.0m | $333.0m | $343.0m | $350.0m | $326.0m | $295.0m | $326.0m | $307.0m | $321.0m | |
| Less: accumulated depreciation | $15.7b | $16.6b | $16.3b | $17.7b | $19.0b | $18.2b | $18.0b | $18.3b | $19.2b | $21.9b | |
| Machinery, equipment and office furnishings | $14.1b | $14.6b | $14.4b | $15.4b | $16.6b | $16.3b | $16.8b | $17.8b | $18.3b | $19.8b | |
| Total Merck & Co., Inc. stockholders’ equity | $40.1b | $34.3b | $26.7b | $25.9b | $25.3b | $38.2b | $46.0b | $37.6b | $46.3b | $52.6b | |
| Total equity | $40.3b | $34.6b | $26.9b | $26.0b | $25.4b | $38.3b | $46.1b | $37.6b | $46.4b | $52.7b | |
| Assets | $95.4b | $87.9b | $82.6b | $84.4b | $91.6b | $105.7b | $109.2b | $106.7b | $117.1b | $136.9b | |
| Total Assets | $95.4b | $87.9b | $82.6b | $84.4b | $91.6b | $105.7b | $109.2b | $106.7b | $117.1b | $136.9b | |
| LIABILITIES AND EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Accounts Payable, Current | $2.8b | $3.1b | $3.3b | $3.7b | $4.6b | $4.6b | $4.3b | $3.9b | $4.1b | $4.4b | |
| Dividends Payable, Current | $1.3b | $1.3b | $1.5b | $1.6b | $1.7b | $1.8b | $1.9b | $2.0b | $2.1b | $2.1b | |
| Dividends payable | $1k | $1k | $1k | $2k | $2k | $2k | $2k | $2k | $2k | $2k | |
| Loans payable and current portion of long-term debt | $568.0m | $3.1b | $5.3b | $3.6b | $6.4b | $2.4b | $1.9b | $1.4b | $2.6b | $2.6b | |
| Long-term Debt, Current Maturities | $300.0m | $3.0b | $5.3b | $1.9b | $2.3b | $2.3b | $1.7b | $1.3b | $2.5b | $2.3b | |
| Long-term Debt, Excluding Current Maturities | $24.3b | $21.4b | $19.8b | $22.7b | $25.4b | $30.7b | $28.7b | $33.7b | $34.5b | $46.8b | |
| Operating Lease, Liability, Current | — | — | — | $236.0m | $300.0m | $304.0m | $281.0m | $285.0m | $282.0m | $294.0m | |
| Operating Lease, Liability, Noncurrent | — | — | — | $768.0m | $1.4b | $1.2b | $1.0b | $928.0m | $877.0m | $901.0m | |
| Trade accounts payable | $2.8b | $3.1b | $3.3b | $3.7b | $4.6b | $4.6b | $4.3b | $3.9b | $4.1b | $4.4b | |
| Liabilities, Current | $17.2b | $18.6b | $22.2b | $22.2b | $27.3b | $23.9b | $24.2b | $25.7b | $28.4b | $28.3b | |
| Total current liabilities | $17.2b | $18.6b | $22.2b | $22.2b | $27.3b | $23.9b | $24.2b | $25.7b | $28.4b | $28.3b | |
| Deferred Income Tax Liabilities, Net | — | $2.2b | $1.7b | $1.5b | $1.0b | $3.4b | $1.8b | $871.0m | $1.4b | $1.4b | |
| Other Liabilities, Noncurrent | $8.5b | $11.1b | $12.0b | $12.0b | $12.5b | $9.4b | $8.3b | $8.8b | $6.5b | $7.7b | |
| Other Noncurrent Liabilities | $8.5b | $11.1b | $12.0b | $12.0b | $12.5b | $9.4b | $8.3b | $8.8b | $6.5b | $7.7b | |
| Deferred Tax Liabilities, Net | $4.5b | $1.6b | $1.0b | $750.0m | $121.0m | $2.7b | $1.3b | — | — | — | |
| Stockholders’ equity: | |||||||||||
| Accumulated Other Comprehensive Income (Loss), Net of Tax | ($5.2b) | ($4.9b) | ($5.5b) | ($6.2b) | ($6.6b) | ($4.4b) | ($4.8b) | ($5.2b) | ($4.9b) | ($4.3b) | |
| Accumulated other comprehensive loss | ($5.2b) | ($4.9b) | ($5.5b) | ($6.2b) | ($6.6b) | ($4.4b) | ($4.8b) | ($5.2b) | ($4.9b) | ($4.3b) | |
| Additional Paid in Capital, Common Stock | $39.9b | $39.9b | $38.8b | $39.7b | $39.6b | $44.2b | $44.4b | $44.5b | $44.7b | $45.0b | |
| Common Stock, Value, Issued | $1.8b | $1.8b | $1.8b | $1.8b | $1.8b | $1.8b | $1.8b | $1.8b | $1.8b | $1.8b | |
| Common stock, $0.50 par value Authorized - 6,500,000,000 shares Issued - 3,577,103,522 shares in 2025 and 2024 | $1.8b | $1.8b | $1.8b | $1.8b | $1.8b | $1.8b | $1.8b | $1.8b | $1.8b | $1.8b | |
| Less treasury stock, at cost: 1,102,476,756 shares in 2025 and 1,049,466,187 shares in 2024 | — | — | — | — | — | $57.1b | $56.5b | $57.5b | $58.3b | $63.0b | |
| Other paid-in capital | $39.9b | $39.9b | $38.8b | $39.7b | $39.6b | $44.2b | $44.4b | $44.5b | $44.7b | $45.0b | |
| Retained Earnings (Accumulated Deficit) | $44.1b | $41.4b | $42.6b | $46.6b | $47.4b | $53.7b | $61.1b | $53.9b | $63.1b | $73.1b | |
| Stockholders' equity before deduction for treasury stock | $80.6b | $78.1b | $77.6b | $81.9b | $82.1b | $95.3b | $102.5b | $95.0b | $104.6b | $115.6b | |
| Stockholders' Equity Attributable to Parent | $40.1b | $34.3b | $26.7b | $25.9b | $25.3b | $38.2b | $46.0b | $37.6b | $46.3b | $52.6b | |
| Noncontrolling Interests | $220.0m | $233.0m | $181.0m | $94.0m | $87.0m | $73.0m | $67.0m | $54.0m | $59.0m | $56.0m | |
| Stockholders' Equity Attributable to Noncontrolling Interest | $220.0m | $233.0m | $181.0m | $94.0m | $87.0m | $73.0m | $67.0m | $54.0m | $59.0m | $56.0m | |
| Liabilities and Equity | $95.4b | $87.9b | $82.6b | $84.4b | $91.6b | $105.7b | $109.2b | $106.7b | $117.1b | $136.9b | |
| Total Liabilities and Equity | $95.4b | $87.9b | $82.6b | $84.4b | $91.6b | $105.7b | $109.2b | $106.7b | $117.1b | $136.9b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.