Operating Income for Merck & Co. (MRK)
According to Merck & Co.'s latest reported financial statements, the company's current operating income (TTM) is $26.78B USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
MRK
Currently viewingOperating IncomeSwitch metric
TTM (last 4 quarters)
$26.78B
YoY change
+32.4%
5Y CAGR
+37.0%
Peak year (2025)
$26.78B
Cumulative operating income
$282.41B
Operating Income history chart for Merck & Co. (MRK) from 1985 to 2025
Operating Income history table for Merck & Co. (MRK) from 1985 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY |
|---|---|---|---|---|
| 2025 | $26.78B | +32.4% | ||
| 2024 | $20.22B | +584.5% | ||
| 2023 | $2.95B | -83.8% | ||
| 2022 | $18.28B | +38.5% | ||
| 2021 | $13.20B | +137.9% | ||
| 2020 | $5.55B | -30.0% | ||
| 2019 | $7.93B | -11.3% | ||
| 2018 | $8.93B | +31.4% | ||
| 2017 | $6.80B | +23.6% | ||
| 2016 | $5.50B | -27.1% | ||
| 2015 | $7.55B | +12.9% | ||
| 2014 | $6.68B | -12.8% | ||
| 2013 | $7.67B | -22.4% | ||
| 2012 | $9.88B | +10.0% | ||
| 2011 | $8.98B | +167.5% | ||
| 2010 | $3.35B | -16.6% | ||
| 2009 | $4.02B | -33.9% | ||
| 2008 | $6.08B | +8.3% | ||
| 2007 | $5.62B | +52.4% | ||
| 2006 | $3.69B | -37.1% | ||
| 2005 | $5.86B | -13.3% | ||
| 2004 | $6.76B | -21.1% | ||
| 2003 | $8.57B | -5.7% | ||
| 2002 | $9.09B | -2.0% | ||
| 2001 | $9.28B | +2.1% | ||
| 2000 | $9.09B | +19.7% | ||
| 1999 | $7.59B | +19.1% | ||
| 1998 | $6.38B | +8.7% | ||
| 1997 | $5.86B | +17.6% | ||
| 1996 | $4.98B | +13.2% | ||
| 1995 | $4.40B | -0.0% | ||
| 1994 | $4.41B | +13.4% | ||
| 1993 | $3.89B | +11.3% | ||
| 1992 | $3.49B | +12.3% | ||
| 1991 | $3.11B | +17.3% | ||
| 1990 | $2.65B | +18.6% | ||
| 1989 | $2.24B | +19.8% | ||
| 1988 | $1.87B | +36.3% | ||
| 1987 | $1.37B | +31.5% | ||
| 1986 | $1.04B | +24.0% | ||
| 1985 | $839.80M | — |
Operating Income values are taken from Merck & Co.'s reported income statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
In 2025, Merck & Co. (MRK) operating income totalled $26.78B – surged 32.4% year-over-year.
Merck & Co. operating income has grown for 2 consecutive years, with a +37.0% compound annual growth rate over 2020–2025 (5 years).
$26.78B stands as the all-time-high annual operating income, posted in 2025, against a low of $839.80M during 1985.
Among 8 Healthcare peers, Merck & Co. (MRK) ranks 3rd; the peer median for operating income is $19.53B.
Merck & Co. Operating Income by Year
Merck & Co. Operating Income 2025: $26.78B
Merck & Co. operating income in 2025 was $26.78B, surged 32.4% from 2024. This figure represents the highest annual value in the available history.
Merck & Co. Operating Income 2024: $20.22B
Merck & Co. operating income in 2024 was $20.22B, surged 584.5% from 2023.
Merck & Co. Operating Income 2023: $2.95B
Merck & Co. operating income in 2023 was $2.95B, plunged 83.8% below 2022.
Merck & Co. Operating Income 2022: $18.28B
Merck & Co. operating income in 2022 was $18.28B, surged 38.5% from 2021.
Merck & Co. Operating Income 2021: $13.20B
Merck & Co. operating income in 2021 was $13.20B.
See more financial history for Merck & Co. (MRK).
Sector peers — Operating Income
Companies in the same sector as Merck & Co., ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| Novo Nordisk A/S (NVO) | $127.66B | Healthcare |
| Eli Lilly and Company (LLY) | $29.70B | Healthcare |
| Johnson & Johnson (JNJ) | $25.60B | Healthcare |
| AbbVie Inc. (ABBV) | $20.09B | Healthcare |
| UnitedHealth Group Incorporated (UNH) | $18.96B | Healthcare |
| AstraZeneca PLC (AZN) | $13.74B | Healthcare |
| Amgen Inc. (AMGN) | $10.68B | Healthcare |
| Thermo Fisher Scientific Inc. (TMO) | $8.11B | Healthcare |
Frequently asked questions
What is Merck & Co.'s operating income?
- Latest reported operating income for Merck & Co. (MRK) is $26.78B (period ending December 31, 2025).
How has Merck & Co. operating income changed year-over-year?
- Merck & Co. (MRK) operating income changed +32.4% year-over-year on the latest annual filing.
What is the long-term growth rate of Merck & Co. operating income?
- Merck & Co. (MRK) operating income compound annual growth rate is +37.0% over the most recent 5 years available.
When did Merck & Co. operating income hit its highest annual value?
- Merck & Co. operating income reached its highest annual value of $26.78B in 2025.
What was Merck & Co. operating income in 2024?
- Merck & Co. (MRK) operating income in 2024 was $20.22B.
What was Merck & Co. operating income in 2025?
- Merck & Co. (MRK) operating income in 2025 was $26.78B.
Metrics overview
Pick a metric for charts, filings, and peers — each row shows the latest TTM or annual value with year-over-year change.
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