TTM
27.6%
YoY change
+4.66pp
Trough year (2023)
4.9%
Peak year (2001)
43.8%
Latest annual
36.2%
Operating Margin history chart for Merck & Co. (MRK) from 1985 to 2025
Latest: 36.2%
Operating Margin change chart for Merck & Co. (MRK) from 1985 to 2025
Latest: +4.66pp
Operating Margin history table for Merck & Co. (MRK) from 1985 to 2025
| 2025 | 36.2% | +4.66pp | ||
| 2024 | 31.5% | +26.60pp | ||
| 2023 | 4.9% | -25.92pp | ||
| 2022 | 30.8% | +3.74pp | ||
| 2021 | 27.1% | +13.74pp | ||
| 2020 | 13.4% | -6.90pp | ||
| 2019 | 20.3% | -0.86pp | ||
| 2018 | 21.1% | +4.18pp | ||
| 2017 | 16.9% | +3.13pp | ||
| 2016 | 13.8% | -5.29pp | ||
| 2015 | 19.1% | +3.28pp | ||
| 2014 | 15.8% | -1.58pp | ||
| 2013 | 17.4% | -3.49pp | ||
| 2012 | 20.9% | +2.21pp | ||
| 2011 | 18.7% | +11.39pp | ||
| 2010 | 7.3% | -7.36pp | ||
| 2009 | 14.7% | -10.85pp | ||
| 2008 | 25.5% | +2.30pp | ||
| 2007 | 23.2% | +6.93pp | ||
| 2006 | 16.3% | -10.33pp | ||
| 2005 | 26.6% | -2.80pp | ||
| 2004 | 29.4% | -8.69pp | ||
| 2003 | 38.1% | -4.28pp | ||
| 2002 | 42.4% | -1.38pp | ||
| 2001 | 43.8% | +21.25pp | ||
| 2000 | 22.5% | -0.70pp | ||
| 1999 | 23.2% | -0.49pp | ||
| 1998 | 23.7% | -1.10pp | ||
| 1997 | 24.8% | -0.33pp | ||
| 1996 | 25.1% | -1.26pp | ||
| 1995 | 26.4% | -3.03pp | ||
| 1994 | 29.4% | -7.59pp | ||
| 1993 | 37.0% | +0.88pp | ||
| 1992 | 36.1% | -0.01pp | ||
| 1991 | 36.1% | +1.59pp | ||
| 1990 | 34.6% | +0.42pp | ||
| 1989 | 34.1% | +2.71pp | ||
| 1988 | 31.4% | +4.38pp | ||
| 1987 | 27.1% | +1.83pp | ||
| 1986 | 25.2% | +1.54pp | ||
| 1985 | 23.7% | — |
- 202536.2%+4.66pp
- 202431.5%+26.60pp
- 20234.9%-25.92pp
- 202230.8%+3.74pp
- 202127.1%+13.74pp
- 202013.4%-6.90pp
- 201920.3%-0.86pp
- 201821.1%+4.18pp
- 201716.9%+3.13pp
- 201613.8%-5.29pp
- 201519.1%+3.28pp
- 201415.8%-1.58pp
- 201317.4%-3.49pp
- 201220.9%+2.21pp
- 201118.7%+11.39pp
- 20107.3%-7.36pp
- 200914.7%-10.85pp
- 200825.5%+2.30pp
- 200723.2%+6.93pp
- 200616.3%-10.33pp
- 200526.6%-2.80pp
- 200429.4%-8.69pp
- 200338.1%-4.28pp
- 200242.4%-1.38pp
- 200143.8%+21.25pp
- 200022.5%-0.70pp
- 199923.2%-0.49pp
- 199823.7%-1.10pp
- 199724.8%-0.33pp
- 199625.1%-1.26pp
- 199526.4%-3.03pp
- 199429.4%-7.59pp
- 199337.0%+0.88pp
- 199236.1%-0.01pp
- 199136.1%+1.59pp
- 199034.6%+0.42pp
- 198934.1%+2.71pp
- 198831.4%+4.38pp
- 198727.1%+1.83pp
- 198625.2%+1.54pp
- 198523.7%—
Operating 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 Operating Margin at Merck & Co. (MRK)
According to Merck & Co.'s latest reported financial statements, the company's latest reported operating margin is 27.6%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
As of the 2025 fiscal year, Merck & Co. (MRK) reported operating margin of 36.17% – expanded 4.7 percentage points year-over-year.
The highest annual operating margin of 43.77% was reported in 2001. The lowest in the available history was 4.91% in 2023.
Merck & Co. Operating Margin by Year
Merck & Co. Operating Margin 2025: 36.2%
In 2025, Merck & Co. reported operating margin of 36.17%, expanded 4.7 percentage points from 2024.
Merck & Co. Operating Margin 2024: 31.5%
Merck & Co. operating margin in 2024 was 31.51%, expanded 26.6 percentage points from 2023.
Merck & Co. Operating Margin 2023: 4.9%
2023's operating margin for Merck & Co. came in at 4.91%, contracted 25.9 percentage points from 2022. This figure represents the lowest annual value in the available history.
Merck & Co. Operating Margin 2022: 30.8%
Merck & Co. posted operating margin of 30.84% in 2022, expanded 3.7 percentage points from 2021.
Merck & Co. Operating Margin 2021: 27.1%
Merck & Co. operating margin in 2021 was 27.10%.
See more financial history for Merck & Co. (MRK).
Sector peers by Operating Margin
Healthcare peers of Merck & Co. (MRK), ranked by their latest operating margin
| 45.9% | |
| 45.3% | |
| 31.6% | |
| 27.6% | |
| 26.4% | |
| 23.7% | |
| 17.8% | |
| 4.2% |
- 45.9%
- 45.3%
- 31.6%
- 27.6%
- 23.7%
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