Merck & Co. Q1 FY25: where the revenue came from and where it went
The whole income statement of Merck & Co. for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jan 1 – Mar 31, 2025
- Reported
- May 2, 2025
Revenue$15.53B
−2% year over year
Gross profit$12.11B
78% margin
Operating profit$5.87B
38% margin
Net profit$5.08B
33% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 15.53 | 100% | −2% |
| US | 8.52 | 55% | +14% |
| EMEA | 3.45 | 22% | −3% |
| Latin America | 0.79 | 5% | −1% |
| CN | 0.70 | 5% | −60% |
| Other countries | 0.70 | 5% | +13% |
| Asia Pacific | 0.69 | 4% | −5% |
| JP | 0.67 | 4% | −19% |
| Cost of revenue | −3.42 | 22% | |
| Gross profit | 12.11 | 78% margin | +0pp |
| R&D | −3.62 | 23% | −2pp |
| SG&A | −2.55 | 16% | +1pp |
| Other | −0.07 | 1% | +0pp |
| Operating profit | 5.87 | 38% margin | +0pp |
| Tax | −0.79 | ||
| Net profit | 5.08 | 33% margin | +3pp |
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