Merck (MRK) Cost of Revenue (2009 - 2026)
Merck (MRK) reported Cost of Revenue of $4.89 billion for Q3 2026, up 26.9% from $3.86 billion a year earlier and up 11.3% from the prior quarter.
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Analysis
Merck (MRK) Cost of Revenue (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Merck's Cost of Revenue came in at $19.03 billion, up 29.8% year-over-year; for FY2025, it was $16.38 billion, up 7.8% from FY2024.
- Cost of Revenue has a five-year compound annual growth rate of 3.8% (FY2020 to FY2025).
- By year, Cost of Revenue came in at $15.19 billion in FY2024 (-5.8%), $16.13 billion in FY2023 (-7.4%), $17.41 billion in FY2022 (+27.8%) and $13.63 billion in FY2021 (+0.1%).
- Five-year quarterly Cost of Revenue spans a low of $3.42 billion in Q1 2025 and a high of $5.55 billion in Q4 2025.
- Year over year, Cost of Revenue has now increased in each of the last four quarters, with growth averaging 12.8% over the last eight quarters.
- The high point for year-over-year Cost of Revenue in five years was Q1 2022 (growth of 68.2%); the low point was Q1 2023 (a decline of 27.0%).
- Per Business Quant data, the three quarters before Q3 2026 came in at $4.4 billion (Q2 2026), $4.2 billion (Q1 2026) and $5.55 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,224.11 Bn | 1,197.72 Bn | 20.46 Bn | 3.93 Bn |
| 2 | Johnson & Johnson | 665.34 Bn | 585.20 Bn | 17.30 Bn | 8.10 Bn |
| 3 | AbbVie | 515.72 Bn | 483.73 Bn | 13.12 Bn | 4.29 Bn |
| 4 | Merck | 362.64 Bn | 325.58 Bn | 13.19 Bn | 4.89 Bn |
| 5 | Novartis Ag | 315.51 Bn | 288.75 Bn | - | - |
| 6 | Astrazeneca | 289.26 Bn | 263.15 Bn | 13.26 Bn | 2.95 Bn |
| 7 | Amgen | 249.20 Bn | 200.85 Bn | 7.58 Bn | 2.79 Bn |
| 8 | Gilead Sciences | 207.48 Bn | 182.59 Bn | 6.73 Bn | 1.57 Bn |
| 9 | Pfizer | 167.49 Bn | 114.85 Bn | 12.56 Bn | 4.03 Bn |
| 10 | Vertex Pharmaceuticals | 138.73 Bn | 110.72 Bn | 2.91 Bn | 526.10 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 4.89 Bn |
| Jun 30, 2026 | 4.40 Bn |
| Mar 31, 2026 | 4.20 Bn |
| Dec 31, 2025 | 5.55 Bn |
| Sep 30, 2025 | 3.86 Bn |
| Jun 30, 2025 | 3.56 Bn |
| Mar 31, 2025 | 3.42 Bn |
| Dec 31, 2024 | 3.83 Bn |
| Sep 30, 2024 | 4.08 Bn |
| Jun 30, 2024 | 3.75 Bn |
| Mar 31, 2024 | 3.54 Bn |
| Dec 31, 2023 | 3.91 Bn |
| Sep 30, 2023 | 4.26 Bn |
| Jun 30, 2023 | 4.02 Bn |
| Mar 31, 2023 | 3.93 Bn |
| Dec 31, 2022 | 3.88 Bn |
| Sep 30, 2022 | 3.93 Bn |
| Jun 30, 2022 | 4.22 Bn |
| Mar 31, 2022 | 5.38 Bn |
| Dec 31, 2021 | 3.87 Bn |
API Access
Merck Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=MRK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "MRK", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=MRK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();