MRK
Merck & Co., Inc. Health Care Pharmaceutical Preparations S&P 500Dow 30Russell 3000
$149.52Close
$534.8BMarket cap
$80.61 – $155.5352-week range
Late-januaryNext report · estimated
Highlights
Strengths
- In a stage-2 uptrend all 8 trend conditions pass
- Leading the market RS 89 · stronger than 89% of stocks over 12 months
- Near its high 4% below its 52-week high
Cautions
- Earnings shrinking EPS −131% year on year
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
4%
1wk
up 2.9%
price change
1mo
up 2.9%
price change
12-month return
up 77%
market up 11% ·
its own up 66%
F-score
4 / 9
Weak
Altman Z
5.67
Low risk
P/E
29.3×
price / earnings
PEG
3.62
P/E / EPS growth
P/B
10.2×
price / book
Earnings yield
up 3.7%
EBIT / enterprise value
Cheaper than
36%
of the market · expensive
Revenue growth
up 1%
year on year
EPS growth
down 131%
latest quarter · +55 pts
Sales growth
up 5%
latest quarter · +0 pts
ROE
up 37%
return on equity
Free cash margin
up 19%
$12.4B FCF
D/E
0.89
long-term debt / equity
Net debt / EBITDA
1.5×
Interest cover
—EBIT / interest
Piotroski tests
- profitability slipped from last year
- profits not fully backed by cash
- took on more long-term debt
- gross margin narrowed
- assets working less efficiently
- profitable on its assets
- generating cash from operations
- short-term liquidity improved
- no new shares issued
Trade setup
ATR%
3.1%
$4.61 a day · 2×ATR $140.31
RS
89 / 99
vs the universe
Trend
8 / 8
trend template
Relative volume
1.2×
vs 50-day average
Up/down volume
0.79
50 sessions
Implied move
—
no scheduled report
Trend template · 8 of 8
Screen verdict
Did not qualify for any screen.
Warning signs
- Gross margin narrowing Gross margin fell from 76.3% to 74.8%. The company is keeping less of each dollar of sales than it did a year ago.
Last reported
Oct 29, 2026
Results reaction
Oct 29, 2026+8% vs market2 sessions after results
Options
$10.2M31.3% IV · activity
Financials
- Gross 75%
- Net 28%
- Free cash 19%
- Cash
- Long-term debt
| FY2020Dec 31, 2020 | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $41.5B | $48.7B | $59.3B | $60.1B | $64.2B | $65.0B |
| Gross margin | 67% | 72% | 71% | 73% | 76% | 75% |
| Net income | $7.1B | $12.3B | $14.5B | $365.0M | $17.1B | $18.3B |
| Net margin | 17% | 25% | 24% | 1% | 27% | 28% |
| Earnings per share | $2.78 | $4.86 | $5.71 | $0.14 | $6.74 | $7.28 |
| Free cash flow | $5.8B | $8.7B | $14.7B | $9.1B | $18.1B | $12.4B |
| Free cash margin | 14% | 18% | 25% | 15% | 28% | 19% |
| Cash | $8.1B | $8.1B | $12.7B | $6.8B | $13.2B | $14.6B |
| Long-term debt | $25.4B | $30.7B | $28.7B | $33.7B | $34.5B | $46.8B |
| Shareholders' equity | $25.3B | $38.2B | $46.0B | $37.6B | $46.3B | $52.6B |
| Shares outstanding | 3.58bn | 3.58bn | 3.58bn | 3.58bn | 3.58bn | 3.58bn |
What options price now
- Expected 1-month range The at-the-money straddle for the expiry nearest a month out, as a share of the price: the move, either way, the option market is pricing by then. The range is the price plus and minus that move; the stock ends inside it a little more often than not. Methodology
- $140 – $159 ±6.7% by Nov 27, 2026
- Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology
- About the same 31.3% priced · 34.7% recent
- Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology
- About the same
- Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology
- past week: costs more
Positioning
- Premium traded
- $10.2M calls $7.9M · puts $2.2M · latest session
- 0.28× -0.45 over the week
- Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology
- calls -27.93k · puts -2.45k past week
For options traders: ATM IV 31.3% (-4.1% 1w) · 1m ÷ 3m IV 1.02 · 25Δ skew 0.7 pts · Net GEX $34.8M
Most traded contracts
No contract passed the liquidity filters this week.
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Aug 7, 2026 | Quarterly ↗ | Jun 30, 2026 | 38d |
| May 4, 2026 | Quarterly ↗ | Mar 31, 2026 | 34d |
| Feb 24, 2026 | Annual ↗ | Dec 31, 2025 | 55d |
| Nov 5, 2025 | Quarterly ↗ | Sep 30, 2025 | 36d |
| Aug 5, 2025 | Quarterly ↗ | Jun 30, 2025 | 36d |
| May 2, 2025 | Quarterly ↗ | Mar 31, 2025 | 32d |
| Feb 25, 2025 | Annual ↗ | Dec 31, 2024 | 56d |
| Nov 6, 2024 | Quarterly ↗ | Sep 30, 2024 | 37d |
| Aug 5, 2024 | Quarterly ↗ | Jun 30, 2024 | 36d |
| May 3, 2024 | Quarterly ↗ | Mar 31, 2024 | 33d |
| Feb 26, 2024 | Annual ↗ | Dec 31, 2023 | 57d |
| Nov 3, 2023 | Quarterly ↗ | Sep 30, 2023 | 34d |
Current reports
| Filed | Disclosed |
|---|---|
| Oct 29, 2026 | Results ↗ |
| Oct 13, 2026 | Director or officer change ↗ |
| Aug 4, 2026 | Results ↗ |
| May 28, 2026 | Shareholder vote ↗ |
| May 22, 2026 | Other events ↗ |
| Apr 30, 2026 | Results ↗ |
| Feb 3, 2026 | Results ↗ |
| Dec 4, 2025 | Other events ↗ |
| Oct 30, 2025 | Results ↗ |
| Sep 9, 2025 | Other events ↗ |
| Jul 29, 2025 | Results · Restructuring ↗ |
| May 29, 2025 | Shareholder vote ↗ |