Last 47 quarters of trend data · Healthcare · Drug Manufacturers - General
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 20.05 | — | — | 22.11 | 9.04 | 11.24 | 11.16 | 16.80 | 22.90 | 14.46 | 17.64 | — | 13.84 | — | 23.96 | 23.51 | 16.82 | 14.70 | 12.07 | 12.95 | 10.43 |
| — | — | — | +31.6% | -60.5% | -22.3% | -36.7% | — | +65.5% | — | -26.4% | — | -17.7% | — | +98.6% | +81.6% | +61.2% | -53.9% | -17.9% | — | -38.8% | |
| P/S Ratio | 5.55 | 4.78 | 4.56 | 4.01 | 3.05 | 3.15 | 3.64 | 4.04 | 4.33 | 4.89 | 5.32 | 4.76 | 4.11 | 4.87 | 4.68 | 5.11 | 3.66 | 3.97 | 3.27 | 3.59 | 3.62 |
| — | +51.9% | +25.5% | -0.8% | -29.6% | -35.6% | -31.6% | -15.0% | +5.5% | +0.3% | +13.6% | -6.9% | +12.2% | +22.8% | +43.1% | +42.3% | +1.1% | -8.4% | -25.5% | -9.2% | -21.2% | |
| P/B Ratio | 6.95 | 7.57 | 6.47 | 4.97 | 4.04 | 4.05 | 4.69 | 5.45 | 6.48 | 7.22 | 8.30 | 7.40 | 6.35 | 7.56 | 5.79 | 6.14 | 4.92 | 5.35 | 5.08 | 5.08 | 5.31 |
| — | +86.6% | +37.9% | -8.8% | -37.6% | -43.8% | -43.5% | -26.3% | +2.0% | -4.6% | +43.5% | +20.5% | +29.1% | +41.5% | +13.8% | +20.9% | -7.4% | -9.6% | -26.4% | -34.9% | -22.6% | |
| P/FCF | 29.16 | 17.74 | 25.40 | 35.89 | 7.67 | 19.66 | 48.46 | 25.15 | 8.48 | 16.25 | 37.65 | — | 9.62 | 26.74 | 204.37 | 21.54 | 12.23 | 18.25 | 13.78 | 12.70 | 13.14 |
| — | -9.8% | -47.6% | +42.7% | -9.6% | +21.0% | +28.7% | — | -11.8% | -39.2% | -81.6% | — | -21.4% | +46.6% | +1383.3% | +69.5% | -6.9% | -42.5% | -79.1% | -33.9% | -80.9% | |
| EV / EBITDA | 13.52 | 101.31 | — | 8.63 | 6.82 | 7.63 | 8.11 | 12.53 | 15.09 | 11.76 | 13.51 | — | 10.47 | — | 15.24 | 17.24 | 11.76 | 10.56 | 8.58 | 12.04 | 9.10 |
| — | +1227.7% | — | -31.1% | -54.8% | -35.1% | -39.9% | — | +44.2% | — | -11.4% | — | -11.0% | — | +77.6% | +43.2% | +29.1% | -52.5% | -39.5% | — | -45.7% | |
| EV / EBIT | 16.88 | — | — | 19.44 | 8.23 | 10.67 | 10.19 | 15.44 | 17.65 | 13.51 | 15.25 | — | 12.14 | — | 18.78 | 20.14 | 15.56 | 13.41 | 11.33 | 13.41 | 9.47 |
| — | — | — | +25.9% | -53.4% | -21.1% | -33.2% | — | +45.4% | — | -18.8% | — | -22.0% | — | +65.7% | +50.3% | +64.3% | -52.2% | -31.5% | — | -50.4% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 72.0% | 73.5% | 81.9% | 70.5% | 75.6% | 75.7% | 75.1% | 75.5% | 75.5% | 76.8% | 77.6% | 73.3% | 73.3% | 73.2% | 72.9% | 71.9% | 73.7% | 71.1% | 66.2% | 71.3% | 73.8% |
| — | -2.8% | +9.0% | -6.6% | +0.1% | -1.4% | -3.1% | +3.1% | +3.0% | +4.8% | +6.4% | +1.8% | -0.6% | +3.0% | +10.2% | +0.8% | -0.1% | -2.3% | -5.3% | +27.9% | +1.9% | |
| Operating Margin | 36.2% | -4.1% | -11.6% | 37.7% | 43.4% | 40.2% | 43.0% | 27.8% | 23.9% | 38.0% | 36.5% | -11.7% | 36.8% | -33.3% | 26.3% | 25.2% | 27.4% | 34.7% | 35.4% | 27.7% | 37.4% |
| — | -110.2% | -126.9% | +35.6% | +81.6% | +5.8% | +17.7% | +337.7% | -35.0% | +214.1% | +39.0% | -146.4% | +34.0% | -196.0% | -25.7% | -9.1% | -26.7% | +133.4% | +32.8% | +278.9% | +63.2% | |
| Net Margin | 28.1% | -8.0% | -26.0% | 18.2% | 33.7% | 28.0% | 32.5% | 24.0% | 19.0% | 33.9% | 30.2% | -8.4% | 29.7% | -39.7% | 19.5% | 21.8% | 21.7% | 27.0% | 27.1% | 27.8% | 34.7% |
| — | -128.7% | -180.1% | -24.2% | +77.6% | -17.2% | +7.7% | +385.9% | -36.2% | +185.2% | +55.0% | -138.4% | +36.9% | -247.0% | -28.2% | -21.5% | -37.5% | +99.5% | -9.4% | +266.1% | +29.0% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 36.9% | -3.0% | -8.6% | 5.7% | 11.5% | 9.1% | 10.7% | 8.2% | 7.2% | 13.0% | 12.2% | -3.1% | 11.9% | -14.0% | 6.1% | 6.7% | 7.4% | 9.4% | 10.9% | 10.1% | 13.2% |
| — | -133.4% | -180.2% | -31.2% | +60.1% | -30.0% | -12.2% | +365.0% | -39.6% | +193.0% | +101.0% | -146.6% | +60.3% | -249.1% | -44.2% | -34.3% | -43.9% | +83.0% | -10.2% | +232.4% | +27.8% | |
| ROA | 14.4% | -1.0% | -3.2% | 2.2% | 4.7% | 3.8% | 4.4% | 3.2% | 2.7% | 5.0% | 4.5% | -1.1% | 4.5% | -5.6% | 2.6% | 2.8% | 3.0% | 3.7% | 4.1% | 3.8% | 5.0% |
| — | -127.1% | -173.0% | -30.3% | +70.7% | -23.8% | -2.4% | +377.7% | -38.9% | +188.7% | +72.3% | -141.2% | +48.2% | -252.6% | -35.9% | -26.0% | -38.8% | +116.8% | +16.5% | +263.4% | +52.1% | |
| ROIC | 22.0% | -0.6% | -1.6% | 5.6% | 7.4% | 6.3% | 6.9% | 4.7% | 4.3% | 6.6% | 6.3% | -1.9% | 6.4% | -5.5% | 4.3% | 4.1% | 4.8% | 5.9% | 6.5% | 4.8% | 7.1% |
| — | -109.1% | -123.0% | +20.7% | +70.8% | -4.4% | +8.6% | +344.9% | -32.5% | +221.2% | +48.2% | -147.1% | +34.2% | -192.9% | -34.5% | -15.7% | -33.1% | +136.8% | +57.3% | +267.4% | +86.0% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.96 | 1.28 | 1.07 | 0.96 | 0.80 | 0.72 | 0.72 | 0.83 | 0.86 | 0.87 | 0.85 | 0.96 | 0.84 | 0.95 | 0.66 | 0.69 | 0.68 | 0.73 | 0.78 | 0.91 | 0.74 |
| — | +77.9% | +48.5% | +16.3% | -6.9% | -16.6% | -15.0% | -14.4% | +1.4% | -9.1% | +29.1% | +38.8% | +23.5% | +30.3% | -15.6% | -23.3% | -7.3% | -8.0% | -32.8% | -31.2% | -24.9% | |
| Debt / EBITDA | 1.72 | 59.90 | — | 5.86 | 4.85 | 4.77 | 4.46 | 6.90 | 7.38 | 5.20 | 5.07 | — | 5.06 | — | 6.41 | 7.30 | 6.01 | 5.27 | 4.72 | 7.55 | 4.65 |
| — | +1154.5% | — | -15.1% | -34.3% | -8.3% | -12.1% | — | +45.7% | — | -20.8% | — | -15.7% | — | +35.9% | -3.3% | +29.1% | -51.8% | -43.9% | — | -46.3% | |
| Current Ratio | 1.54 | 1.32 | 1.30 | 1.54 | 1.66 | 1.42 | 1.41 | 1.36 | 1.36 | 1.47 | 1.25 | 1.25 | 1.38 | 1.28 | 1.44 | 1.47 | 1.46 | 1.39 | 1.40 | 1.27 | 1.31 |
| — | -7.1% | -7.9% | +12.6% | +21.8% | -2.9% | +12.6% | +9.0% | -1.4% | +14.4% | -13.2% | -15.0% | -5.2% | -7.6% | +3.3% | +16.2% | +11.5% | +5.9% | +36.9% | +24.8% | +0.5% | |
| Quick Ratio | 1.30 | 1.10 | 1.06 | 1.30 | 1.44 | 1.17 | 1.16 | 1.15 | 1.15 | 1.22 | 0.99 | 1.00 | 1.12 | 1.03 | 1.19 | 1.23 | 1.22 | 1.15 | 1.14 | 1.02 | 0.97 |
| — | -6.1% | -9.0% | +13.2% | +24.5% | -3.9% | +17.2% | +14.4% | +3.1% | +18.5% | -16.6% | -18.3% | -8.0% | -10.4% | +4.6% | +20.8% | +24.9% | +21.1% | +63.7% | +25.3% | +8.1% | |
| Interest Coverage | 16.52 | -0.30 | — | 9.32 | 21.63 | 17.39 | 19.86 | 13.71 | 13.39 | 20.37 | 19.71 | -5.60 | 18.73 | -18.26 | 16.08 | 15.95 | 15.68 | 19.70 | 21.00 | 19.70 | 27.87 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying MRK stock.
Merck & Co., Inc.'s current P/E is 20.0x. The average P/E over the last 2 quarters is 15.6x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Merck & Co., Inc.'s current operating margin is 36.2%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Merck & Co., Inc.'s business trajectory between earnings reports.