To the full analysis
Merck stock: balance sheet and debt
MRKMerck has a debt to equity ratio of 0.96 and an interest coverage of 16.5x.
Daily figure as of 13 Nov 2026
Debt / Equity
0.96
Interest coverage
16.5x
Current ratio
1.54
Cash & equivalents
$14.57B
Total assets
$136.87B
Equity ratio
38.5%
Goodwill
$21.58B
Plus intangible assets of $26.68B
Net debt
$35.97B
Total assets and equity ratio
How large the balance sheet of Merck & Co., Inc. is, how much of it is equity and how much is goodwill from acquisitions.
Equity ratio
Figures as a table
| Year | Total assets | Goodwill and intangible assets | of which goodwill | Equity ratio | Net debt |
|---|---|---|---|---|---|
| 2006 | $44.57B | $2.38B | $1.43B | 44.8% | −$1.88B |
| 2007 | $48.35B | $2.17B | $1.45B | 42.6% | −$2.49B |
| 2008 | $47.2B | $1.96B | $1.44B | 44.8% | $754M |
| 2009 | $112.31B | $59.8B | $12.04B | 54.7% | $7.87B |
| 2010 | $105.78B | $51.83B | $12.38B | 53.7% | $5.68B |
| 2011 | $105.13B | $46.46B | $12.16B | 54.2% | $2.54B |
| 2012 | $106.13B | $41.22B | $12.13B | 52.3% | $4.43B |
| 2013 | $105.65B | $36.1B | $12.3B | 49.5% | $7.57B |
| 2014 | $98.17B | $33.38B | $12.99B | 49.7% | $5.68B |
| 2015 | $101.68B | $40.33B | $17.72B | 44.0% | $12.99B |
| 2016 | $95.38B | $35.47B | $18.16B | 42.3% | $10.5B |
| 2017 | $87.87B | $32.47B | $18.28B | 39.3% | $15.91B |
| 2018 | $82.64B | $31.36B | $18.25B | 32.5% | $16.25B |
| 2019 | $84.4B | $33.62B | $19.43B | 30.8% | $16.9B |
| 2020 | $91.59B | $32.98B | $18.88B | 27.7% | $25.37B |
| 2021 | $105.69B | $44.2B | $21.26B | 36.2% | $26.54B |
| 2022 | $109.16B | $41.47B | $21.2B | 42.2% | $18.79B |
| 2023 | $106.68B | $39.21B | $21.2B | 35.3% | $29.18B |
| 2024 | $117.11B | $38.04B | $21.67B | 39.6% | $24.58B |
| 2025 | $136.87B | $48.26B | $21.58B | 38.5% | $35.97B |
The equity ratio divides total equity, including non-controlling interests, by total assets. Net debt is debt minus cash and short-term investments; a negative figure means cash exceeds debt.
Equity and debt
What the company owns and owes
- Cash & equivalents
- Equity
- Debt
Figures as a table
| Year | Cash & equivalents | Equity | Debt | Debt / Equity |
|---|---|---|---|---|
| 2006 | $8.71B | $17.56B | $6.84B | 0.34 |
| 2007 | $8.23B | $18.18B | $5.74B | 0.28 |
| 2008 | $5.49B | $18.76B | $6.24B | 0.29 |
| 2009 | $9.6B | $59.06B | $17.47B | 0.28 |
| 2010 | $12.2B | $54.38B | $17.88B | 0.31 |
| 2011 | $14.97B | $54.52B | $17.52B | 0.31 |
| 2012 | $16.14B | $53.02B | $20.57B | 0.37 |
| 2013 | $17.49B | $49.77B | $25.06B | 0.48 |
| 2014 | $15.72B | $48.65B | $21.4B | 0.44 |
| 2015 | $13.43B | $44.68B | $26.41B | 0.59 |
| 2016 | $14.34B | $40.09B | $24.84B | 0.62 |
| 2017 | $8.5B | $34.34B | $24.41B | 0.71 |
| 2018 | $8.86B | $26.7B | $25.11B | 0.93 |
| 2019 | $10.45B | $25.91B | $27.35B | 1.05 |
| 2020 | $8.05B | $25.32B | $33.42B | 1.32 |
| 2021 | $8.1B | $38.18B | $34.63B | 0.91 |
| 2022 | $13.19B | $45.99B | $31.99B | 0.69 |
| 2023 | $7.09B | $37.58B | $36.27B | 0.96 |
| 2024 | $13.69B | $46.31B | $38.27B | 0.83 |
| 2025 | $14.57B | $52.61B | $50.53B | 0.96 |
Debt to equity divides debt by total equity, including non-controlling interests, as S&P calculates it. The equity column shows the part that belongs to shareholders.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 7 Aug 2026)
- Valuation signal Fairly valued since 8 Nov 2026, previously Undervalued
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.