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Merck & Co., Inc.

LSE:0QAH.LHealthcare

——At close · Market cap — · Next earnings Thu 29 Oct

Ratio	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	Current · undated	YoY
Gross margin	71.1%	72.4%	71.0%	73.2%	76.3%	81.5%	—	—
Operating margin	18.6%	28.5%	34.6%	7.6%	31.5%	41.2%	41.2%	+0.0 pts
Net margin	10.9%	25.3%	24.5%	0.6%	26.7%	28.1%	28.1%	+0.0 pts
EBITDA margin	26.4%	34.9%	41.0%	11.5%	40.1%	45.1%	—	—
Return on equity	17.8%	32.3%	31.6%	1.0%	37.0%	34.7%	34.7%	−0.0 pts
Return on assets	4.9%	11.7%	13.3%	0.3%	14.6%	13.3%	13.3%	+0.0 pts
Return on capital employed	12.0%	17.0%	24.1%	5.6%	22.8%	24.7%	—	—
Debt / equity	1.3×	0.9×	0.7×	1.0×	0.8×	0.9×	0.9×	−0.1%
Debt / assets	36.2%	32.5%	29.0%	33.7%	31.7%	36.0%	—	—
Interest coverage	0.0×	0.0×	0.0×	4.0×	15.9×	19.7×	—	—
Current ratio	1.0×	1.3×	1.5×	1.3×	1.4×	1.5×	1.5×	+0.0%
Quick ratio	0.8×	1.0×	1.2×	1.0×	1.1×	1.3×	—	—
Cash ratio	0.3×	0.3×	0.5×	0.3×	0.5×	0.5×	0.5×	+0.0%
Asset turnover	0.5×	0.5×	0.5×	0.6×	0.5×	0.5×	—	—
Inventory turnover	2.2×	2.3×	2.9×	2.5×	2.5×	1.8×	—	—
Receivables turnover	5.7×	4.5×	5.6×	5.8×	6.2×	5.5×	—	—
Dividend payout	137.5%	53.5%	48.3%	2,039.7%	45.8%	44.8%	—	—

Margins, returns, leverage and liquidityUpdated 31 Dec 2025 ·

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Current snapshot ratios have no reporting date and are shown separately from fiscal periods.