Why did Merck (MRK) stock move recently?

On 8/25/2026, Merck moved +3.8% — Merck shares rose on continued positive momentum and analyst upgrades tied to the recent Phase 3 melanoma data for its personalized cancer vaccine (intismeran autogene) in combination with Keytruda, including Wolfe Research raising its price target. This is MarketChacha's decoded reason from filings and credible news; it is education, not buy/sell advice.

Is Merck (MRK) overvalued or fairly valued?

MarketChacha shows Merck's valuation in context — a trailing P/E of about 83.3, a forward P/E of about 15.8, a price-to-book of about 8.9 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Merck's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.43×) from reported figures — education, not a rating.

What is Merck's revenue?

Merck reported revenue of $65.0B for FY2025, with net profit of $18.3B, per official filings.

What is the share price of Merck (MRK)?

Merck last traded at $151.64 (+1.2% on the day), as of 9/2/2026 — a delayed quote shown for education, not investment advice.

Merck

MRK · NYSE · Pharma · United States

Snapshot

TickerMRK

ExchangeNYSE

SectorPharma

IndustryDrug Manufacturers - General

CountryUnited States

Employees73,000

HeadquartersRahway, United States

Websitewww.merck.com

Filings tracked14

About Merck

Merck & Co., Inc. operates as a healthcare company worldwide. It offers human health pharmaceutical for various areas under the Keytruda, Keytruda Qlex, Welireg, Gardasil, ProQuad, M-M-R II, Varivax, Vaxneuvance, Capvaxive, RotaTeq, Pneumovax 23, Bridion, Prevymis, Dificid, Zerbaxa, Winrevair, Adempas/ Verquvo, Ohtuvayre, Lagevrio, Isentress/Isentress HD, Delstrigo, Pifeltro, Belsomra, Januvia, and Janumet brands. The company also provides veterinary pharmaceuticals, vaccines and health management solutions and services, such as livestock products under the Nuflor, Bovilis/Vista, Bovilis Cryptium, Banamine, Estrumate, Matrix, Resflor, Zuprevo, Revalor, Safe-Guard, M+Pac, Porcilis, Circumvent, Nobilis/Innovax, Paracox and Coccivac, Exzolt, Slice, Imvixa, Clynav, Aquavac/Norvax, Aquaflor, Flexolt brands; Allflex Livestock Intelligence solutions; and companion animal products under the Bravecto One-Month, Bravecto Injectable/Quantum, Bravecto TriUNO, Bravecto Plus, Sentinel Spectrum, Sentinel Flavor Tabs, Numelvi, Optimmune, Nobivac NXT, GilvetMab, Otomax, Mometamax, Mometamax Ultra, Posatex, Caninsulin/Vetsulin, Panacur, Safeguard, Regumate, Prestige, Scalibor/Exspot, Sure Petcare, and Home Again brands. It has development and commercialization agreement for three of Daiichi Sankyo's deruxtecan ADC candidates; AstraZeneca PLC to co-development and co-commercialize AstraZeneca's Lynparza products for multiple cancer types; licensed to develop, manufacture and commercialize LM-299, a novel investigational PD-1/VEGF bispecific antibody from LaNova; and collaboration agreement with Eisai Co., Ltd., Bayer AG, and Ridgeback Biotherapeutics LP, as well Moderna, Inc. Merck & Co., Inc. has strategic collaboration with Infinimmune, Inc. to discover and develop antibodies against multiple therapeutic targets. The company was founded in 1891 and is headquartered in Rahway, New Jersey.

Who owns it

Insiders0.1%
Institutions82.7%
Public & other17.2%

4,830 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.9.20%
Vanguard Capital Management LLC6.54%
State Street Corporation4.88%
Wellington Management Group, LLP3.50%
Vanguard Portfolio Management LLC2.75%
Geode Capital Management, LLC2.46%
Charles Schwab Investment Management, Inc.2.20%
Morgan Stanley1.97%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

No major accounting red flags in the fundamentals we have — profit is backed by cash and returns look healthy.

Cash conversion1.43×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend0.6% → 28.1%

Margin has expanded by about 27.5 points — the business is getting more profitable.

Return on equity34.7%

Latest ROE of 34.7% — capital is generating a healthy return.

Growth qualityrev 4% · PAT 607%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $16.9B · EPS 1.96

Est. earnings growth -4.0%

Next fiscal year

Rev $70.3B · EPS 9.54

Est. earnings growth +247.3%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$65.0B

Net margin

28.1%

ROE

34.7%

Revenue CAGR (2y)

+4.0%

Profit CAGR (2y)

+607.2%

EPS (FY2025)

7.28

Net profit (FY2025)

$18.3B

Ask MarketChacha about MRK

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Why it moved

Aug 25, 2026
Merck shares rose on continued positive momentum and analyst upgrades tied to the recent Phase 3 melanoma data for its personalized cancer vaccine (intismeran autogene) in combination with Keytruda, including Wolfe Research raising its price target.
source 1 ↗source 2 ↗· confidence: high
Aug 20, 2026
Merck rose sharply and touched a 52-week high as the co-developed intismeran autogene plus KEYTRUDA combination met its Phase 3 endpoints in resected melanoma. The result extends the KEYTRUDA franchise into earlier-stage disease and into a combination setting.
source 1 ↗source 2 ↗· confidence: high

Daily moves with the verified reason behind them. Education only — not investment advice.

On MarketChacha

Posts about MRK

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$65.0B	$18.3B	7.28	28.1%	34.7%
FY2024	$64.2B	$17.1B	6.74	26.7%	37.0%
FY2023	$60.1B	$365.0M	0.14	0.6%	1.0%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$16.6B	$-1.3B	-0.54	-8.0%
2026Q1	$16.3B	$-4.2B	-1.72	-26.0%
2025Q3	$17.3B	$5.8B	2.32	33.5%
2025Q2	$15.8B	$4.4B	1.76	28.0%
2025Q1	$15.5B	$5.1B	2.01	32.7%
2024Q3	$16.7B	$3.2B	1.24	19.0%
2024Q2	$16.1B	$5.5B	2.14	33.9%
2024Q1	$15.8B	$4.8B	1.87	30.2%
2023Q3	$16.0B	$4.7B	1.86	29.7%
2023Q2	$15.0B	$-6.0B	-2.35	-39.7%
2023Q1	$14.5B	$2.8B	1.11	19.5%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

10-Q filing
SEC8/7/2026
8-K — Results of operations, Exhibits
SEC8/4/2026material
8-K — Shareholder vote results
SEC5/28/2026material
8-K — Other events, Exhibits
SEC5/22/2026material
10-Q — 1Q26 FORM 10-Q
SEC5/4/2026
8-K — Results of operations, Exhibits
SEC4/30/2026material
10-K — 10-K FOR THE FISCAL YEAR ENDED DECEMBER 31, 2025
SEC2/24/2026
8-K — Results of operations, Exhibits
SEC2/3/2026material

2025

8-K — Other events, Exhibits
SEC12/4/2025material
10-Q — 3Q25 FORM 10-Q
SEC11/5/2025
8-K — Results of operations, Exhibits
SEC10/30/2025material
8-K — Other events, Exhibits
SEC9/9/2025material
10-Q — 2Q25 FORM 10-Q (6.30.25)
SEC8/5/2025
8-K — Results of operations, Costs from exit/disposal, Exhibits
SEC7/29/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.