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Friday, October 30, 2026Closing data · 4:00 PM ET
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MRK

Merck & Co.NYSE · Pharmaceuticals · Health Care
Previous close
149.52
Change
+3.19 / +2.18%
FinDog View
Neutral
52-Week Range ?
82.01 – 156.92
P/E (TTM) ?
117.2
Forward P/E ?
19.6
Based on consensus earnings for the next 12 months
Market Cap
$371B
1M
+2.90%
S&P 500 −0.91% over same period
Volume / Avg Volume
12.3M / 11.2M
1.10× average
Latest earnings analysisFY2026 Q2Reported 2026-08-04

Merck Q2 2026: sales up 5.0%, but a Terns charge drives a net loss

Merck's quarter looks ugly on the bottom line and solid on the top line: sales rose 5.0% to $16.61 billion, while a $5.7 billion charge for the Terns acquisition pushed GAAP EPS to a loss of $0.54. Strip out deal and restructuring costs and the non-GAAP loss was still $0.13, which is better than the $0.27 loss analysts expected. Read the sales line and the pipeline news, not the earnings line.

Read the full analysis →
Revenue$16.61BYoY +5.10%
EPS (non-GAAP)$-0.13Beatest. $-0.27
Next-quarter revenue guidance$66.80B ±0.75%YoY +302.20%
Next-day move+0.26%

Price History

Closing price · USD1M6M1Y5Y
5075100125150175EEEEEE2021-102023-012024-042025-082026-10

Historical P/E

Close ÷ trailing four-quarter EPS · Period median 116.21M6M1Y5Y
110112.5115117.51202026-092026-102026-102026-102026-10

Recent Earnings

Click to read the FinDog analysis
PeriodReportedRevenueEPS Actual / Est.Next-Day MoveAnalysis
FY2026 Q2
Quarter ended 2026-06
2026-08-04$16.6B-0.13 / -0.27+0.26%Read analysis →
FY2026 Q1
Quarter ended 2026-03
2026-04-30$16.3B-1.28 / -1.52+2.73%Pending
FY2025 Q4
Quarter ended 2025-12
2026-02-03$65.0B2.04 / 2.03+2.15%Pending
FY2025 Q3
Quarter ended 2025-09
2025-10-30$17.3B2.58 / 2.37−0.35%Pending
FY2025 Q2
Quarter ended 2025-06
2025-07-29$15.8B2.13 / —−1.06%Pending
FY2025 Q1
Quarter ended 2025-03
2025-04-24$15.5B2.22 / —+3.63%Pending

Next Earnings

Date and consensus from the earnings calendar; the analysis is generated automatically after the releaseEarnings Calendar →
Report date
2027-02-02
in 92 days · After hours
Consensus EPS
$1.98
Last quarter EPS $-0.13
Avg. next-day move over the last 6 reports
±1.7%

Decision Panel

Trends · Valuation · Earnings reaction · Guidance credibility — all from company filings and market data
Valuation
P/E is at percentile 81 of its 5-year rangeExpensive
5-year range 11.7 – 898.7 · Median 21.3
Last 4 quarters: $4.2B in buybacks + $8.3B in dividends, 3.37% of market cap combined
P/E (TTM)
117.2
P/B
8.9
P/S
5.6
Dividend Yield
2.87%
Earnings Reaction
Over the last 6 reports, the stock moved ±1.7% on average on the first trading day after, rising 4 times
Most recent +0.26%
Volatility & Correlation
1-year beta 0.10 · Correlation with S&P 500 0.04Low beta
Annualized volatility 30% vs. 13% for the S&P 500
Insider Trading
View all →
Last 90 days · Open-market buys and sells by officers and directors · Amounts in USD millions
Buy 0 · $0.00MSell 9 · $30.0MNet selling $30.0M
  • 08-13Guindo ChirfiEVP, Access, Policy & CommsSell$1.4M10,000 shares · Avg price 135.00
  • 08-12DeLuca Richard R.EVP&Pres, Merck Animal HeallthSell$1.5M11,699 shares · 2 trades · Avg price 131.63
  • 08-12Zachary JenniferEVP, General CounselSell$10.7M80,315 shares · Avg price 133.46
  • 08-11DeLuca Richard R.EVP&Pres, Merck Animal HeallthSell$1.7M12,837 shares · 2 trades · Avg price 131.76
  • 08-10DeLuca Richard R.EVP&Pres, Merck Animal HeallthSell$2.7M20,784 shares · Avg price 130.43
  • 08-06Guindo ChirfiEVP, Access, Policy & CommsSell$2.0M15,000 shares · Avg price 131.00
  • 08-06DeLuca Richard R.EVP&Pres, Merck Animal HeallthSell$0.79M6,050 shares · 3 trades · Avg price 130.38
  • 08-05Williams David MichaelEVP,Chief Info&Digital OfficerSell$6.8M52,847 shares · 3 trades · Avg price 128.77
Multi-Quarter Financial Trends
View all quarters →
Last 12 quarters · As reported by the company
QuarterRevenue ($B)YoYGross MarginOperating Income ($B)Net Income ($B)Free Cash Flow ($B)EPS
FY2026 Q216.61+5.1%73.5%—-1.344.48-0.54
FY2026 Q116.29+4.9%74.2%—-4.242.93-1.72
FY2025 Q416.40+5.0%66.2%—2.961.821.19
FY2025 Q317.28+3.7%77.7%—5.796.842.32
FY2025 Q215.81−1.9%77.5%—4.432.531.76
FY2025 Q115.53−1.6%78.0%—5.081.172.01
FY2024 Q415.62+6.8%75.5%—3.742.511.49
FY2024 Q316.66+4.4%75.5%—3.168.511.24
FY2024 Q216.11+7.2%76.8%—5.464.852.14
FY2024 Q115.78+8.9%77.6%—4.762.231.87
FY2023 Q414.63+5.8%73.3%—-1.23-0.74-0.48
FY2023 Q315.96+6.7%73.3%—4.756.821.86

Peers

Largest by market cap in the sector · Latest quarterView Health Care sector →
TickerCompanyMarket CapP/ERevenue YoYGross Margin1MView
MRKMerck & Co.$371B117.2+5.1%73.5%+2.90%Neutral
LLYLilly (Eli)$1.34T50.2+38.6%83.9%+22.51%BullishCompare
JNJJohnson & Johnson$666B41.3+5.9%68.1%+3.20%BullishCompare
ABBVAbbVie$522B81.4+10.2%74.7%+12.73%BullishCompare
UNHUnitedHealth Group$367B23.0+0.4%88.1%+10.87%BullishCompare
TMOThermo Fisher Scientific$258B36.4+9.1%—+3.25%NeutralCompare
AMGNAmgen$254B28.5+9.5%72.0%+10.56%BullishCompare
GILDGilead Sciences$213B—+6.8%81.1%+14.51%NeutralCompare
ABTAbbott Laboratories$184B39.1+7.8%56.2%+7.46%NeutralCompare