Merck (MRK) Return on Invested Capital [ROIC] (2009 - 2026)
Merck's Return on Invested Capital [ROIC] came in at 3.56% for Q2 2026, down 15.94 percentage points from 19.50% a year earlier and down 5.76 percentage points from the prior quarter.
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Analysis
Merck (MRK) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, Merck's Return on Invested Capital [ROIC] was 19.83%, down 2.08 percentage points from FY2024.
- Return on Invested Capital [ROIC] carries a five-year change of +12.83 percentage points (FY2020 to FY2025).
- Going back by year, Return on Invested Capital [ROIC] was 21.91% in FY2024 (+13.13 pp), 8.78% in FY2023 (-12.62 pp), 21.41% in FY2022 (+4.04 pp) and 17.37% in FY2021 (+10.36 pp).
- The Q2 2026 figure represents the lowest quarterly Return on Invested Capital [ROIC] since Q4 2023.
- Year-over-year, Return on Invested Capital [ROIC] has declined for three consecutive quarters, with an average year-over-year change of +1.94 percentage points over the last eight quarters.
- The fastest year-over-year change in Return on Invested Capital [ROIC] over five years came in Q4 2024 (a gain of 18.86 percentage points), and the weakest in Q4 2023 (a drop of 19.16 percentage points).
- Business Quant data shows MRK's Return on Invested Capital [ROIC] at 9.32% (Q1 2026), 18.84% (Q4 2025) and 21.28% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,359.75 Bn | 1,333.37 Bn | 20.46 Bn | 30.89% |
| 2 | Johnson & Johnson | 688.76 Bn | 608.62 Bn | 17.30 Bn | 17.57% |
| 3 | AbbVie | 521.69 Bn | 489.75 Bn | 13.12 Bn | 24.28% |
| 4 | Merck | 364.31 Bn | 327.31 Bn | 13.19 Bn | 2.52% |
| 5 | Novartis Ag | 306.35 Bn | 279.93 Bn | - | - |
| 6 | Astrazeneca | 285.96 Bn | 259.56 Bn | 13.26 Bn | 23.11% |
| 7 | Amgen | 251.88 Bn | 203.53 Bn | 7.58 Bn | 15.60% |
| 8 | Gilead Sciences | 208.59 Bn | 183.61 Bn | 6.73 Bn | -6.11% |
| 9 | Pfizer | 164.73 Bn | 112.38 Bn | 12.56 Bn | 12.34% |
| 10 | Vertex Pharmaceuticals | 136.55 Bn | 104.28 Bn | 2.91 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 2.52% |
| Jun 30, 2026 | 3.32% |
| Mar 31, 2026 | 9.07% |
| Dec 31, 2025 | 18.70% |
| Sep 30, 2025 | 21.43% |
| Jun 30, 2025 | 19.58% |
| Mar 31, 2025 | 20.93% |
| Dec 31, 2024 | 20.62% |
| Sep 30, 2024 | 14.82% |
| Jun 30, 2024 | 17.62% |
| Mar 31, 2024 | 3.15% |
| Dec 31, 2023 | 0.51% |
| Sep 30, 2023 | 6.09% |
| Jun 30, 2023 | 4.08% |
| Mar 31, 2023 | 16.90% |
| Dec 31, 2022 | 19.15% |
| Sep 30, 2022 | 20.45% |
| Jun 30, 2022 | 22.54% |
| Mar 31, 2022 | 19.31% |
| Dec 31, 2021 | 18.49% |
API Access
Merck Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=MRK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=MRK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();