⬤ Loading…
Merck & Co., Inc.
…
NYSE: MRK Healthcare Pharma 🔎 Screen
Dow 30 S&P 500
🏹 Trader: 🚀 Stage 2 + Near High 📈 Stage 2 🎯 Near 52W High | BRS 74 Forming View all →
📈 Stage 2 detected Find the fundamental catalyst → → run Growth Triggers in Ask AI
$365.9B
Market Cap
33.8
P/E
1.26
PEG
6.3%
ROCE
7.0%
ROE
1.28
D/E
35.3%
OPM
-3.9%
% from 52W High
91
α RS
🔍 MRK is showing a multi-screen setup because it matches 7 of 39 tracked screener presets, Sector RRG has Health Care in the Leading quadrant with the trail still weakening further, RS Rating is 91 (top decile vs market), and it has maintained a 35-day Near 52-Week High momentum persistence. The main caution: the Accumulation Zone preset's Backtest win rate is only 46.7%. Net: Mixed signal stack, not a recommendation. ? Conviction RRG RS Rating Momentum Streaks Backtest
Sources
Conviction 7/39 · Health Care in Leading quadrant · RS Rating 91 · Near 52-Week High streak: 35d · Backtest win rate 46.7%
⚖️ Compare 🔒 Generate Report 🔒 Research Packet 📚 Guides
🌏 Global Investor Returns
Currency-adjusted total returns for MRK including FX impact
🌏
Click 🌏 Returns tab to load data
📈 Price History
Ratio Health
— Excellent
— Good
— Average
— Poor
By Category
📊 Peer Medians
About

Merck & Co., Inc. operates as a healthcare company worldwide. It offers human health pharmaceutical for various areas under the Keytruda, Keytruda Qlex, Welireg, Gardasil, ProQuad, M-M-R II, Varivax, Vaxneuvance, Capvaxive, RotaTeq, Pneumovax 23, Bridion, Prevymis, Dificid, Zerbaxa, Winrevair, Adempas/ Verquvo, Ohtuvayre, Lagevrio, Isentress/Isentress HD, Delstrigo, Pifeltro, Belsomra, Januvia, and Janumet brands. The company also provides veterinary pharmaceuticals, vaccines and health management solutions and services, such as livestock products under the Nuflor, Bovilis/Vista, Bovilis Cryptium, Banamine, Estrumate, Matrix, Resflor, Zuprevo, Revalor, Safe-Guard, M+Pac, Porcilis, Circumvent, Nobilis/Innovax, Paracox and Coccivac, Exzolt, Slice, Imvixa, Clynav, Aquavac/Norvax, Aquaflor, Flexolt brands; Allflex Livestock Intelligence solutions; and companion animal products under the Bravecto One-Month, Bravecto Injectable/Quantum, Bravecto TriUNO, Bravecto Plus, Sentinel Spectrum, Sentinel Flavor Tabs, Numelvi, Optimmune, Nobivac NXT, GilvetMab, Otomax, Mometamax, Mometamax Ultra, Posatex, Caninsulin/Vetsulin, Panacur, Safeguard, Regumate, Prestige, Scalibor/Exspot, Sure Petcare, and Home Again brands. It has development and commercialization agreement for three of Daiichi Sankyo’s deruxtecan ADC candidates; AstraZeneca PLC to co-development and co-commercialize AstraZeneca’s Lynparza products for multiple cancer types; licensed to develop, manufacture and commercialize LM-299, a novel investigational PD-1/VEGF bispecific antibody from LaNova; and collaboration agreement with Eisai Co., Ltd., Bayer AG, and Ridgeback Biotherapeutics LP, as well Moderna, Inc. Merck & Co., Inc. has strategic collaboration with Infinimmune, Inc. to discover and develop antibodies against multiple therapeutic targets. The company was founded in 1891 and is headquartered in Rahway, New Jersey.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
Loading…
⭐ Superinvestors Holding MRK
View All Superinvestors →
Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 921.1K $110.8M 0.14% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔒
Premium Feature
AI-generated 10-section company profile — business model, financials, strengths, risks & management quality
Upgrade to Premium
Already a member? Log in
📐
3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
Open Model →
🎙 Management Tone Confident Specific → Stable 5 quarters Full tone analysis in Intelligence →
Mixed quarter Investor Presentation One-Pager? Q2 2026
Revenue
$16.6B
+5% YoY (4% ex-FX)
Net Income (GAAP)
-$1.335B
N/M vs +$4.427B prior year
Non-GAAP EPS
-$0.13
N/M vs +$2.13 prior year
Gross Margin
81.1%
-1.1pp YoY
What Went Right
  • Total sales reached $16.6B, up 5% reported / 4% ex-FX, led by oncology and animal health.
  • KEYTRUDA/QLEX sales rose 5% to $8.4B, including $463M of QLEX; WINREVAIR grew 75% to $588M.
  • FDA approved LIPFENDRA, the first oral PCSK9 inhibitor, and positive phase III data readouts came for sac-TMT, tulisokibart and once-weekly islatravir/lenacapavir in HIV.
What to Watch
  • Terns acquisition drove a $2.31/share charge, resulting in GAAP and non-GAAP EPS losses, and lifted the effective tax rate to 160.3% for the quarter.
  • TL1A candidate missed the primary endpoint in SSc-ILD, and the phase III flu antiviral program added a second Northern Hemisphere season — approval still expected in 2029.
  • U.S. KEYTRUDA growth is expected to moderate near peak penetration, and Q3 2025 had a ~$250M one-time wholesaler benefit; Ohtuvayre Q3 sales face specialty-pharmacy unwind.
Management Guidance
  • Full-year 2026 revenue guidance raised/narrowed to $66.3B–$67.3B (2%–4% growth, FX +1pt).
  • Full-year non-GAAP EPS guided to $2.66–$2.76, including $2.43/share of Terns-related charges; FX adds ~$0.15.
  • Gross margin ~81%; operating expenses $42.0B–$42.7B; other expense ~$1.4B; tax rate 35%–36%; ~$3B buybacks expected.
Investor Lens
The investment thesis looks stronger after this call: pipeline de-risking is happening faster than previously expected, with sac-TMT, tulisokibart and HIV once-weekly data all positive, and 2026 revenue guidance was raised. The headline EPS loss is largely explained by the one-time Terns acquisition charge, while the core business grew 5%. Key questions remain around LIPFENDRA launch ramp, KEYTRUDA QLEX adoption, and how quickly KEYTRUDA U.S. growth moderates. Management remains confident in a shallow LOE 'hill' and still aspires to grow through it on a non-risk-adjusted basis.
From investor presentation · AI-generated analysis · Not investment advice
🔒
Premium Feature
Investor Presentation One-Pager — quarterly highlights, what went right/wrong & management guidance
Upgrade to Premium
Already a member? Log in
📊 MIXED 5% growth to $16.6B, but net loss from Terns.
Revenue
Total Q2 sales were $16.6B, up 5% reported / 4% ex-FX. Oncology led with KEYTRUDA/QLEX up 5% to $8.4B, WINREVAIR jumped 75% to $588M, GARDASIL grew 3% to $1.2B, and animal health was up 5%.
Profitability
GAAP net loss was $1.335B versus income of $4.427B a year earlier; non-GAAP net loss was $330M. Non-GAAP EPS was -$0.13, including the $2.31 Terns charge, versus +$2.13 last year.
Margins
Gross margin fell 1.1 points to 81.1%, driven by higher inventory reserves. Operating expenses were $12.6B, including a $5.7B Terns charge; excluding charges, opex grew 7%. The tax rate was 160.3% due to the non-tax-deductible Terns charge.
Balance Sheet
No specific cash, debt, CapEx or free cash flow figure was provided. CFO reiterated a strong investment-grade credit rating, priority on the dividend, and ~$3B of planned share repurchases; financing costs for recent business development increased other expense to $290M.
Key Risks
Management flagged moderating U.S. KEYTRUDA growth, a non-repeating ~$250M Q3 2025 wholesaler benefit, and Ohtuvayre Q3 specialty-pharmacy unwind. The SSc-ILD TL1A trial missed its primary endpoint, and the flu antiviral program needs an extra season before approval.
Outlook
Full-year 2026 revenue was raised to $66.3B–$67.3B and non-GAAP EPS guided to $2.66–$2.76, including $2.43/share of Terns charges. Management expects gross margin of ~81%, a tax rate of 35%–36%, and significantly higher second-half other revenue.
Generated by AI · Q2 2026 results · Not investment advice
🔒
Free Account Required

Create a free Finmagine account to access Finmagine™ Scorecard.

See how this company scores across 5 dimensions — Financial Health, Growth Prospects, Competitive Position, Management Quality, and Valuation — powered by 30+ computed ratios.

Create Free AccountLog In
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Ask AI.

Get 25 expert AI analysis templates — Business KPIs, Comprehensive, Forensic Governance, Peer Comparison, Risk-Reward, Full Research Report, IPO Decoder, Red Flag Detector, and more — ready to paste into ChatGPT, Claude, Gemini, or Perplexity.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Peer Comparison.

Compare this company side-by-side against its sector peers with financial metrics, ratio benchmarking, and relative performance across all key dimensions.

Upgrade to PremiumCreate Free Account
✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
🔍
🔎 See cross-company document search → ?
📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-04
Q2 revenue rose 5% to $16.6B, led by oncology, animal health, and new launches. Guidance for 2026 was raised, with EPS expected at $2.66–$2.76, including a $2.31/share one-time charge. Major regulatory approvals and pipeline advances de-risk future growth.
Q1 2026 Q1 2026 2026-04-30
Q1 revenue grew 5% year-over-year to $16.3B, led by oncology and animal health, but a $9B one-time charge for Sedera resulted in a reported loss. Guidance for 2026 was raised, with continued investment in launches and pipeline, and the Terns acquisition expected to further diversify growth.
Q4 2025 Q4 2025 2026-02-03
Q4 2025 revenue grew 5% to $16.4B, led by oncology and new launches, while animal health also performed strongly. 2026 guidance projects 1–3% revenue growth, with continued investment in pipeline and launches, despite headwinds from generic competition and pricing pressures.
Q3 2025 Q3 2025 2025-10-30
Q3 saw 4% revenue growth to $17.3B, led by oncology, animal health, and new launches. Guidance for 2025 is $64.5–$65B in revenue and $8.93–$8.98 EPS, with strong pipeline momentum and new product approvals offsetting vaccine and LOE headwinds.
Q2 2025 Q2 2025 2025-07-29
Q2 revenue reached $15.8B, down 2% due to GARDASIL China, but underlying growth was 7% with strong oncology and animal health performance. New launches like WINREVAIR and CAPVAXIVE are driving momentum, and a $3B optimization initiative will fund pipeline expansion. Guidance for 2025 remains solid.
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Catalyst Timeline.

Every result, order win, insider trade, ECS update, earnings-call, and SEC announcement for this company — in one chronological lane.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Full Report.

Read the complete Finmagine™ investment research report — comprehensive fundamental analysis, business model assessment, competitive positioning, and investment recommendation.

Upgrade to PremiumCreate Free Account

📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

🎯
Discover Our Proven Investment Framework Learn how we analyze and rank stocks using advanced quantitative models, multi-dimensional scoring systems, and dynamic discriminatory ranking techniques that have guided successful investment decisions across market cycles.
📊 Explore The Finmagine™ Methodology

A comprehensive, bias-free framework for analyzing and ranking stocks by Financial Strength, Growth Potential, Competitive Edge, Management Quality, and Value.

Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
This analysis may contain forward-looking statements, forecasts, or projections that are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from those expressed or implied. Finmagine does not undertake any obligation to update such statements in the future.

Limitation of Liability:
The content is provided "as is" without any warranties, express or implied. Finmagine expressly disclaims any liability for errors, omissions, or any losses incurred as a result of reliance on the information provided. Readers assume full responsibility for their investment decisions.