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Merck & Co. $MRK

Health Care · Pharmaceuticals · NYSE/NASDAQ

S&P 500 Dow Jones Russell 1000 New Jersey

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$148.30

+4.67 (+3.25%)

As of Oct 21, 2026, 3:55 AM EDT

Price history

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Today's analyst average Analyst average over timeIndividual analyst targets Analyst history starts Jul 29, 2026, the first target we tracked for MRK.

Key facts

52-week range (closes): $82.49 – $156.45 Lowest close Nov 3, 2025, highest Aug 25, 2026; 251 daily closes to Oct 13, 2026 from Dalsna Finance's price archive
Next earnings: Oct 29, 2026, before the open · EPS forecast $2.12 Nasdaq earnings calendar, as of Oct 21, 2026
Fiscal year ends: December Fiscal 2025 ended Dec 31, 2025, from SEC filings
In the S&P 500 since: Mar 4, 1957 · All S&P 500 changes
In the Dow since: Jun 29, 1979 · All Dow changes
Analyst coverage: 15 open price targets from 11 firms: Argus Research, Guggenheim, Morgan Stanley, RBC Capital Markets, Barclays, BMO Capital Markets, Cantor Fitzgerald, HSBC, JPMorgan, Scotiabank, Wolfe Research Approved targets tracked here; see the analyst section below

Merck & Co. (MRK) is trading up at $148.30 (+3.25%) on NYSE/NASDAQ, as of the latest quote. It is a S&P 500 constituent in the Health Care sector.

Analyst price targets on MRK

Current price targets from 11 firms average $166, median $170, ranging from $145 to $180 — the average is 12% above the current $148. Each is tracked to its date and scored the same way a member's call is.

RBC Capital Markets $145 → $145 by Oct 2027 Sector Perform Oct 12, 2026 via MarketBeat · RBC Capital Markets's track record
Cantor Fitzgerald $142 → $145 by Oct 2027 Neutral Oct 8, 2026 via MarketBeat · Cantor Fitzgerald's track record
Morgan Stanley $143 → $177 by Oct 2027 Overweight Oct 7, 2026 via MarketBeat · Morgan Stanley's track record
JPMorgan $140 → $165 by Oct 2027 Overweight Oct 5, 2026 via MarketBeat · JPMorgan's track record
Scotiabank $149 → $180 by Sep 2027 sector outperform Sep 29, 2026 via marketbeat.com · Scotiabank's track record
HSBC $145 → $172 by Sep 2027 Buy Sep 10, 2026 via GuruFocus · HSBC's track record
Guggenheim $148 → $170 by Sep 2027 Sep 8, 2026 via GuruFocus · Guggenheim's track record
Wolfe Research $156 → $180 by Aug 2027 Aug 25, 2026 via GuruFocus · Wolfe Research's track record
Argus Research $156 → $170 by Aug 2027 Aug 25, 2026 via GuruFocus · Argus Research's track record
BMO Capital Markets $149 → $170 by Aug 2027 Outperform Aug 20, 2026 via GuruFocus · BMO Capital Markets's track record
RBC Capital Markets $149 → $150 by Aug 2027 Aug 20, 2026 via GuruFocus · RBC Capital Markets's track record
Morgan Stanley $149 → $179 by Aug 2027 Overweight Aug 20, 2026 via GuruFocus · Morgan Stanley's track record

Targets published by research firms, extracted from the news, checked against independent reporting, and linked to their source. Where a firm did not state a horizon the target is tracked as 12 months, the industry convention; the rows where the firm set its own horizon are marked. Reported here as facts about what was published — not recommendations from Dalsna Finance, and no firm listed is affiliated with this site.

Merck & Co. revenue & net income history (FY2016–FY2025)

RevenueNet incomeNet margin (right axis, %)

Merck & Co. annual financial statements
	FY2016Dec 2016	FY2017Dec 2017	FY2018Dec 2018	FY2019Dec 2019	FY2020Dec 2020	FY2021Dec 2021	FY2022Dec 2022	FY2023Dec 2023	FY2024Dec 2024	FY2025Dec 2025
Income statement
Revenue	$39.8B	$40.1B	$42.3B	$39.1B	$41.5B	$48.7B	$59.3B	$60.1B	$64.2B	$65.0B
Growth (year over year)	+0.8%	+0.8%	+5.4%	−7.5%	+6.1%	+17.3%	+21.7%	+1.4%	+6.7%	+1.3%
Gross profit	$25.8B	$27.2B	$28.8B	$27.1B	$27.9B	$35.1B	$41.9B	$44.0B	$49.0B	$48.6B
Gross margin	64.8%	67.8%	68.1%	69.3%	67.2%	72.0%	70.6%	73.2%	76.3%	74.8%
Net income	$3.92B	$2.39B	$6.22B	$9.84B	$7.07B	$13.0B	$14.5B	$365.0M	$17.1B	$18.3B
Net margin	9.8%	6.0%	14.7%	25.2%	17.0%	26.8%	24.5%	0.6%	26.7%	28.1%
EPS (diluted)	$1.41	$0.87	$2.32	$3.81	$2.78	$5.14	$5.71	$0.14	$6.74	$7.28
Balance sheet
Cash and equivalents	$6.51B	$6.09B	$7.96B	$9.68B	$8.05B	$8.10B	$12.7B	$6.84B	$13.2B	$14.6B
Total assets	$95.4B	$87.9B	$82.6B	$84.4B	$91.6B	$105.7B	$109.2B	$106.7B	$117.1B	$136.9B
Total liabilities	$55.1B	$53.3B	$55.8B	$58.4B	$66.2B	$67.4B	$63.1B	$69.0B	$70.7B	$84.2B
Long-term debt	$24.3B	$21.4B	$19.8B	$22.7B	$25.4B	$30.7B	$28.7B	$33.7B	$34.5B	$46.8B
Shareholders' equity	$40.1B	$34.3B	$26.7B	$25.9B	$25.3B	$38.2B	$46.0B	$37.6B	$46.3B	$52.6B
Cash flow
Operating cash flow	$10.4B	$6.45B	$10.9B	$13.4B	$10.3B	$13.1B	$19.1B	$13.0B	$21.5B	$16.5B
Capital expenditure	$1.61B	$1.89B	$2.62B	$3.37B	$4.43B	$4.45B	$4.39B	$3.86B	$3.37B	$4.11B
Free cash flow	$8.76B	$4.56B	$8.31B	$10.1B	$5.82B	$8.67B	$14.7B	$9.14B	$18.1B	$12.4B
Dividends paid	$5.12B	$5.17B	$5.17B	$5.70B	$6.21B	$6.61B	$7.01B	$7.45B	$7.84B	$8.18B
Share buybacks	$3.43B	$4.01B	$9.09B	$4.78B	$1.28B	$840.0M	$0	$1.35B	$1.31B	$5.08B

RevenueNet incomeNet margin (right axis, %)

Merck & Co. quarterly financial statements
	Q3 FY24Sep 2024	Q4 FY24^†Dec 2024	Q1 FY25Mar 2025	Q2 FY25Jun 2025	Q3 FY25Sep 2025	Q4 FY25^†Dec 2025	Q1 FY26Mar 2026	Q2 FY26Jun 2026
Income statement
Revenue	$16.7B	$15.6B	$15.5B	$15.8B	$17.3B	$16.4B	$16.3B	$16.6B
Growth (year over year)	+4.4%	+6.8%	−1.6%	−1.9%	+3.7%	+5.0%	+4.9%	+5.1%
Gross profit	$12.6B	$11.8B	$12.1B	$12.2B	$13.4B	$10.8B	$12.1B	$12.2B
Gross margin	75.5%	75.5%	78.0%	77.5%	77.7%	66.2%	74.2%	73.5%
Net income	$3.16B	$3.74B	$5.08B	$4.43B	$5.79B	$2.96B	−$4.24B	−$1.33B
Net margin	19.0%	24.0%	32.7%	28.0%	33.5%	18.1%	−26.0%	−8.0%
EPS (diluted)	$1.24	$1.49	$2.01	$1.76	$2.32	$1.19	−$1.72	−$0.54
Balance sheet
Cash and equivalents	$14.6B	$13.2B	$8.63B	$8.01B	$18.2B	$14.6B	$5.33B	$6.85B
Total assets	$117.5B	$117.1B	$115.1B	$117.5B	$129.5B	$136.9B	$128.7B	$129.8B
Total liabilities	$73.0B	$70.7B	$66.7B	$68.5B	$77.6B	$84.2B	$82.8B	$87.8B
Long-term debt	$35.0B	$34.5B	$33.5B	$34.0B	$40.0B	$46.8B	$46.7B	$51.1B
Shareholders' equity	$44.5B	$46.3B	$48.3B	$49.0B	$51.9B	$52.6B	$45.9B	$41.9B
Cash flow
Operating cash flow	$9.29B	$3.45B	$2.50B	$3.29B	$7.82B	$2.86B	$3.92B	$5.37B
Capital expenditure	$783.0M	$937.0M	$1.33B	$764.0M	$987.0M	$1.03B	$991.0M	$893.0M
Free cash flow	$8.51B	$2.51B	$1.17B	$2.53B	$6.83B	$1.82B	$2.93B	$4.48B
Dividends paid	$1.95B	$1.95B	$2.05B	$2.08B	$2.03B	$2.02B	$2.10B	$2.14B
Share buybacks	$444.0M	$489.0M	$1.16B	$1.34B	$1.32B	$1.25B	$874.0M	$757.0M

From Merck & Co.'s 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →

Merck & Co. vs the Health Care sector and the S&P 500

Merck & Co.'s latest reported figures next to the median of the other 59 S&P 500 Health Care companies and of the other 502 S&P 500 companies; each median is taken over the companies with a comparable figure (counts in the footnote). A median is the middle value, not an average, so one very large company does not move it.

Merck & Co. compared with the median Health Care company and the median S&P 500 company
Measure	Merck & Co.	Health Care (59 other S&P 500 companies)	S&P 500 (502 other companies)
Revenue growth, latest fiscal year	+1.3%	+7.2%	+7.0%
Net margin, latest fiscal year	28.1%	12.9%	12.9%
Dividend per share, latest fiscal year	$3.28	$2.43	$2.40
Share price change, 1 year	+69.3%	+20.7%	+6.6%

Merck & Co.: fiscal year ended December 2025, from its 10-K and 10-Q filings with the SEC. Medians computed October 21, 2026 from each company's latest annual filing (fiscal years ending between July 2025 and September 2026) and our price archive. Prices for every company, Merck & Co. included, are the last regular-session prices of October 20, 2026; the 1-year change compares that price with each company's last close on or before October 21, 2025. Net margin and price change are our calculations from reported figures. Each median counts only the companies with a comparable figure (sector / S&P 500): revenue growth 59/496, net margin 59/496, dividend per share 32/349, 1-year price change 59/488; the reasons below can overlap. 14 are left out of the price figure because our archive holds no comparable close for them; dividend medians are among the 32 sector and 349 S&P 500 companies reporting a per-share dividend. The S&P 500 price figure is the middle company's change, not the index's return.

About Merck & Co.

Merck & Co., Inc. is an American multinational pharmaceutical company headquartered in Rahway, New Jersey. The company does business as Merck Sharp & Dohme or MSD outside the United States and Canada. The company is ranked fifth on the list of largest biomedical companies by revenue.

Source: Wikipedia — Merck & Co.