Merck (MRK) EBITDA (2009 - 2026)
Merck's (MRK) quarterly EBITDA came in at -$584.0 million in Q2 2026, down 111.7% year-over-year from $5.0 billion in Q2 2025, and up 82.8% quarter-over-quarter from -$3.4 billion in Q1 2026.
Analysis
Merck (MRK) EBITDA (2009 - 2026) Analysis & Trends
Merck (MRK) has reported EBITDA for 18 consecutive years, with -$584.0 million the latest figure, recorded in Q2 2026.
- On a quarterly basis, EBITDA fell 111.7% year-over-year to -$584.0 million in Q2 2026; TTM through Jun 2026 was $10.1 billion, a 47.0% decrease from a year earlier, with the FY2025 full-year figure at $21.2 billion, up 6.56% from the prior year.
- EBITDA was -$584.0 million for Q2 2026 at Merck, up from -$3.4 billion in the prior quarter.
- Over five years, EBITDA peaked at $7.6 billion in Q4 2025 and troughed at -$5.2 billion in Q2 2023.
- A 5-year average of $3.6 billion and a median of $4.6 billion in 2022 frame the typical range for EBITDA.
- Across the five-year window, EBITDA sank 204.83% in 2023 and jumped 217.14% in 2024, its largest moves.
- Over 5 years, EBITDA stood at $3.4 billion in 2022, then tumbled by 37.2% to $2.2 billion in 2023, then jumped by 99.03% to $4.3 billion in 2024, then jumped by 76.59% to $7.6 billion in 2025, then tumbled by 107.7% to -$584.0 million in 2026.
- The last three EBITDA figures came in at -$584.0 million (Q2 2026), -$3.4 billion (Q1 2026), and $7.6 billion (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 643.26 Bn | 622.50 Bn | 17.26 Bn | 7.14 Bn |
| 2 | AbbVie | 443.31 Bn | 436.74 Bn | 12.70 Bn | 6.43 Bn |
| 3 | Merck | 364.74 Bn | 357.60 Bn | 12.21 Bn | -584.00 Mn |
| 4 | Novartis Ag | 266.46 Bn | 258.77 Bn | 11.24 Bn | 4.75 Bn |
| 5 | Pfizer | 158.57 Bn | 146.88 Bn | 10.94 Bn | 4.27 Bn |
| 6 | Sanofi | 52.33 Bn | 44.95 Bn | 10.79 Bn | 1.22 Bn |
| 7 | Revolution Medicines | 43.79 Bn | 43.79 Bn | - | -505.13 Mn |
| 8 | Incyte | 25.23 Bn | 20.69 Bn | 1.57 Bn | 697.90 Mn |
| 9 | United Therapeutics | 21.67 Bn | 19.01 Bn | 683.80 Mn | 330.80 Mn |
| 10 | Neurocrine Biosciences | 15.65 Bn | 15.26 Bn | 935.80 Mn | 151.50 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -584.00 Mn |
| Mar 31, 2026 | -3.40 Bn |
| Dec 31, 2025 | 7.59 Bn |
| Sep 30, 2025 | 6.51 Bn |
| Jun 30, 2025 | 4.99 Bn |
| Mar 31, 2025 | 5.87 Bn |
| Dec 31, 2024 | 4.30 Bn |
| Sep 30, 2024 | 3.93 Bn |
| Jun 30, 2024 | 6.05 Bn |
| Mar 31, 2024 | 5.64 Bn |
| Dec 31, 2023 | 2.16 Bn |
| Sep 30, 2023 | 5.75 Bn |
| Jun 30, 2023 | -5.16 Bn |
| Mar 31, 2023 | 3.74 Bn |
| Dec 31, 2022 | 3.44 Bn |
| Sep 30, 2022 | 4.01 Bn |
| Jun 30, 2022 | 4.93 Bn |
| Mar 31, 2022 | 5.57 Bn |
| Dec 31, 2021 | 3.58 Bn |
| Sep 30, 2021 | 4.82 Bn |