MRKMerck & Co., Inc.
Pharmaceutical Preparations
- Revenue
- $65.0B
- 1.3% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- $47.1B net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear90% of net incomeCash flow under 80% of net income
- Dilutive SBCClear1% of revenueOver 10% of revenue
- Payouts exceed cash flowClear81% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear17% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $48.7B | $59.3B | $60.1B | $64.2B | $65.0B | 1.3% |
| Net income | $12.3B | $14.5B | $365M | $17.1B | $18.3B | 6.6% |
| Operating cash flow | $13.1B | $19.1B | $13.0B | $21.5B | $16.5B | 23% |
| Capex | $4.4B | $4.4B | $3.9B | $3.4B | $4.1B | 22% |
| Stock-based comp | $479M | $541M | $645M | $761M | $820M | 7.8% |
| Buybacks | $840M | $0 | $1.3B | $1.3B | $5.1B | 289% |
| Dividends | $6.6B | $7.0B | $7.4B | $7.8B | $8.2B | 4.3% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 158 | 198 |
| FY2024 | — | — | 144 | 146 |
| FY2023 | — | — | 154 | 134 |
| FY2022 | — | — | 152 | 130 |
| FY2021 | — | — | 102 | 122 |