Merck (MRK) Operating Margin (2009 - 2026)

Merck has disclosed Operating Margin across 18 years of filings, most recently posting 47.46% for Q1 2026.

• In Q1 2026, Operating Margin fell 6345.0% year-over-year to 47.46%; the TTM figure through Mar 2026 stood at 8.41% (down 1638.0% YoY), while the FY2025 annual figure was 7.21%, down 19.0% from the prior year.
• Operating Margin slipped to 47.46% in Q1 2026, from 12.99% in the prior quarter.
• Over the last five years, Operating Margin for MRK reached as high as 16.73% in Q3 2025 and fell as low as 62.25% in Q2 2023.
• The 5-year median for Operating Margin is 0.06% (2024), against an average of 5.39%.
• Annual changes were most pronounced in 2023 — Operating Margin slumped 6411 bps — and 2024, when it surged 7628 bps.
• A 5-year view of Operating Margin shows it stood at 2.66% in 2022, then slumped by 1430 bps to 40.72% in 2023, then soared by 105 bps to 2.19% in 2024, then slumped by 694 bps to 12.99% in 2025, then tumbled by 265 bps to 47.46% in 2026.
• According to Business Quant data, Operating Margin over the past three periods registered 47.46%, 12.99%, and 16.73% for Q1 2026, Q4 2025, and Q3 2025 respectively.