Merck (MRK) Operating Expenses (2009 - 2026)

Merck (MRK) has 18 years of Operating Expenses data on file, last reported at $19.8 billion in Q1 2026.

• Quarterly Operating Expenses rose 105.9% year-over-year to $19.8 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $54.1 billion (up 23.74% YoY) and the FY2025 annual result came in at $43.9 billion, down 0.65% from the prior year.
• Operating Expenses improved to $19.8 billion in Q1 2026 per MRK's latest filing, from $13.0 billion in the prior quarter.
• Across five years, Operating Expenses topped out at $20.4 billion in Q2 2023 and bottomed at $9.6 billion in Q1 2025.
• The 5-year median for Operating Expenses is $10.8 billion (2023), against an average of $12.3 billion.
• The widest annual swing landed in 2024, when Operating Expenses slumped 50.39%; it then surged 105.9% in 2026.
• Tracing MRK's Operating Expenses over 5 years: stood at $10.3 billion in 2022, then surged by 61.64% to $16.7 billion in 2023, then plunged by 31.31% to $11.5 billion in 2024, then climbed by 13.32% to $13.0 billion in 2025, then surged by 52.7% to $19.8 billion in 2026.
• Per Business Quant, the three latest MRK Operating Expenses figures stand at $19.8 billion (Q1 2026), $13.0 billion (Q4 2025), and $10.5 billion (Q3 2025).

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