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 (+14.60 pp), 7.31% in FY2023 (-14.09 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 | 1,076.25 Bn | 1,044.84 Bn | 19.71 Bn | 37.16% |
| 2 | Johnson & Johnson | 617.18 Bn | 535.70 Bn | 17.26 Bn | 16.10% |
| 3 | AbbVie | 464.58 Bn | 437.73 Bn | 12.70 Bn | 18.68% |
| 4 | Merck | 356.04 Bn | 310.47 Bn | 12.21 Bn | 3.56% |
| 5 | Novartis Ag | 269.07 Bn | 224.94 Bn | 11.24 Bn | 21.95% |
| 6 | Astrazeneca | 243.21 Bn | 216.77 Bn | 12.86 Bn | 28.83% |
| 7 | Amgen | 217.88 Bn | 173.28 Bn | 7.24 Bn | 14.33% |
| 8 | Gilead Sciences | 179.62 Bn | 153.74 Bn | 6.22 Bn | -5.97% |
| 9 | Pfizer | 158.45 Bn | 105.40 Bn | 10.94 Bn | 13.44% |
| 10 | Vertex Pharmaceuticals | 127.87 Bn | 99.88 Bn | 2.84 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.56% |
| Mar 31, 2026 | 9.32% |
| Dec 31, 2025 | 18.84% |
| Sep 30, 2025 | 21.28% |
| Jun 30, 2025 | 19.50% |
| Mar 31, 2025 | 20.90% |
| Dec 31, 2024 | 20.59% |
| Sep 30, 2024 | 19.20% |
| Jun 30, 2024 | 22.64% |
| Mar 31, 2024 | 6.75% |
| Dec 31, 2023 | 1.74% |
| Sep 30, 2023 | 6.34% |
| Jun 30, 2023 | 4.54% |
| Mar 31, 2023 | 17.87% |
| Dec 31, 2022 | 20.90% |
| Sep 30, 2022 | 21.96% |
| Jun 30, 2022 | 22.98% |
| Mar 31, 2022 | 19.09% |
| Dec 31, 2021 | 16.70% |
| Sep 30, 2021 | 8.04% |
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();