What is Merck & Co.'s EBITDA margin?

Latest reported EBITDA margin for Merck & Co. (MRK) is 34.60% as of the trailing twelve months (TTM) ending March 31, 2026.

How has Merck & Co. EBITDA margin changed year-over-year?

Merck & Co. (MRK) EBITDA margin changed +5.1 percentage points year-over-year on the latest annual filing.

When did Merck & Co. EBITDA margin hit its highest annual value?

Merck & Co. EBITDA margin reached its highest annual value of 66.81% in 2009.

What was Merck & Co. EBITDA margin in 2024?

Merck & Co. (MRK) EBITDA margin in 2024 was 40.06%.

What was Merck & Co. EBITDA margin in 2025?

Merck & Co. (MRK) EBITDA margin in 2025 was 45.17%.

Merck & Co. (MRK) EBITDA Margin — Annual & Quarterly %

TTM

34.6%

YoY change

+5.10pp

Trough year (2023)

11.5%

Peak year (2009)

66.8%

EBITDA Margin history chart for Merck & Co. (MRK) from 1985 to 2025

Latest: 45.2%

EBITDA Margin change chart for Merck & Co. (MRK) from 1985 to 2025

Latest: +5.10pp

EBITDA Margin history table for Merck & Co. (MRK) from 1985 to 2025


2025	45.2%	+5.10pp	Dec 31, 2025	Feb 24, 2026
2024	40.1%	+28.57pp	Dec 31, 2024	Feb 25, 2025
2023	11.5%	-24.47pp	Dec 31, 2023	Feb 26, 2024
2022	36.0%	-0.80pp	Dec 31, 2022	Feb 24, 2023
2021	36.8%	+12.23pp	Dec 31, 2021	Feb 25, 2022
2020	24.5%	-4.55pp	Dec 31, 2020	Feb 25, 2021
2019	29.1%	-4.01pp	Dec 31, 2019	Feb 26, 2020
2018	33.1%	+3.30pp	Dec 31, 2018	Feb 27, 2019
2017	29.8%	+2.60pp	Dec 31, 2017	Feb 27, 2018
2016	27.2%	-4.33pp	Dec 31, 2016	Feb 28, 2017
2015	31.5%	-26.98pp	Dec 31, 2015	Feb 26, 2016
2014	58.5%	+28.21pp	Dec 31, 2014	Feb 27, 2015
2013	30.3%	-4.48pp	Dec 31, 2013	Feb 27, 2014
2012	34.8%	+2.59pp	Dec 31, 2012	Feb 28, 2013
2011	32.2%	+10.97pp	Dec 31, 2011	Feb 28, 2012
2010	21.2%	-45.62pp	Dec 31, 2010	Feb 28, 2011
2009	66.8%	+17.28pp	Dec 31, 2009	Mar 1, 2010
2008	49.5%	+18.10pp	Dec 31, 2008	Feb 27, 2009
2007	31.4%	+5.12pp	Dec 31, 2007	Feb 29, 2008
2006	26.3%	-8.07pp	Dec 31, 2006	Feb 28, 2007
2005	34.4%	-1.36pp	Dec 31, 2005	Feb 28, 2006
2004	35.7%	-8.22pp	Dec 31, 2004	Mar 31, 2005
2003	44.0%	-4.17pp	Dec 31, 2003	Feb 26, 2004
2002	48.1%	-0.99pp	Dec 31, 2002	Mar 10, 2003
2001	49.1%	+22.64pp	Dec 31, 2001	Mar 29, 2002
2000	26.5%	-1.21pp	Dec 31, 2000	Mar 13, 2001
1999	27.7%	+0.21pp	Dec 31, 1999	Mar 2, 2000
1998	27.5%	-0.87pp	Dec 31, 1998	Feb 25, 1999
1997	28.3%	-1.47pp	Dec 31, 1997	Mar 19, 1998
1996	29.8%	-1.74pp	Dec 31, 1996	Mar 3, 1997
1995	31.5%	-3.73pp	Dec 31, 1995	Jun 14, 1996
1994	35.3%	-5.69pp	Dec 31, 1994	Mar 3, 1995
1993	41.0%	+1.50pp	Dec 31, 1993	Jun 16, 1994
1992	39.5%	+0.25pp	Dec 31, 1992	Dec 31, 1992
1991	39.2%	+1.34pp	Dec 31, 1991	Dec 31, 1991
1990	37.9%	+0.35pp	Dec 31, 1990	Dec 31, 1990
1989	37.5%	+2.64pp	Dec 31, 1989	Dec 31, 1989
1988	34.9%	+3.68pp	Dec 31, 1988	Dec 31, 1988
1987	31.2%	+1.29pp	Dec 31, 1987	Dec 31, 1987
1986	29.9%	+1.10pp	Dec 31, 1986	Dec 31, 1986
1985	28.8%	—	Dec 31, 1985	Dec 31, 1985

202545.2%+5.10pp
202440.1%+28.57pp
202311.5%-24.47pp
202236.0%-0.80pp
202136.8%+12.23pp
202024.5%-4.55pp
201929.1%-4.01pp
201833.1%+3.30pp
201729.8%+2.60pp
201627.2%-4.33pp
201531.5%-26.98pp
201458.5%+28.21pp
201330.3%-4.48pp
201234.8%+2.59pp
201132.2%+10.97pp
201021.2%-45.62pp
200966.8%+17.28pp
200849.5%+18.10pp
200731.4%+5.12pp
200626.3%-8.07pp
200534.4%-1.36pp
200435.7%-8.22pp
200344.0%-4.17pp
200248.1%-0.99pp
200149.1%+22.64pp
200026.5%-1.21pp
199927.7%+0.21pp
199827.5%-0.87pp
199728.3%-1.47pp
199629.8%-1.74pp
199531.5%-3.73pp
199435.3%-5.69pp
199341.0%+1.50pp
199239.5%+0.25pp
199139.2%+1.34pp
199037.9%+0.35pp
198937.5%+2.64pp
198834.9%+3.68pp
198731.2%+1.29pp
198629.9%+1.10pp
198528.8%—

EBITDA Margin values are taken from Merck & Co.'s reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.

About EBITDA Margin at Merck & Co. (MRK)

According to Merck & Co.'s latest reported financial statements, the company's latest reported EBITDA margin is 34.6%. EBITDA margin is EBITDA divided by revenue — earnings before interest, taxes, depreciation, and amortization as a percentage of sales. By stripping out non-cash charges and capital-structure effects, it approximates operating cash profitability and is widely used to compare companies with different asset bases and leverage.

Headline figure above is from the reporting period ending March 31, 2026 (reported May 4, 2026). Chart and table below cover the full reported history back to 1985.

As of the 2025 fiscal year, Merck & Co. (MRK) reported EBITDA margin of 45.17% – expanded 5.1 percentage points year-over-year.

66.81% stands as the all-time-high annual EBITDA margin, posted in 2009, against a low of 11.49% during 2023.

Merck & Co. EBITDA Margin by Year

Merck & Co. EBITDA Margin 2025: 45.2%

In 2025, Merck & Co. reported EBITDA margin of 45.17%, expanded 5.1 percentage points from 2024.

Merck & Co. EBITDA Margin 2024: 40.1%

Merck & Co. EBITDA margin in 2024 was 40.06%, expanded 28.6 percentage points from 2023.

Merck & Co. EBITDA Margin 2023: 11.5%

2023's EBITDA margin for Merck & Co. came in at 11.49%, contracted 24.5 percentage points from 2022. This figure represents the lowest annual value in the available history.

Merck & Co. EBITDA Margin 2022: 36.0%

Merck & Co. posted EBITDA margin of 35.95% in 2022, contracted 0.8 percentage points from 2021.

Merck & Co. EBITDA Margin 2021: 36.8%

Merck & Co. EBITDA margin in 2021 was 36.75%.

See more financial history for Merck & Co. (MRK).

Sector peers by EBITDA Margin

Healthcare peers of Merck & Co. (MRK), ranked by their latest EBITDA margin


Novo Nordisk (NVO)	55.4%
Amgen (AMGN)	46.6%
Eli Lilly (LLY)	45.9%
AstraZeneca (AZN)	33.9%
Johnson & Johnson (JNJ)	30.3%
AbbVie (ABBV)	26.9%
Thermo Fisher Scientific (TMO)	24.7%
UnitedHealth Group (UNH)	5.1%

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