Merck & Co. Q2 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
- Apr 1 – Jun 30, 2025
- Reported
- Aug 5, 2025
Revenue$15.81B
−2% year over year
Gross profit$12.25B
77% margin
Operating profit$4.99B
32% margin
Net profit$4.43B
28% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 15.81 | 100% | −2% |
| US | 8.84 | 56% | +12% |
| EMEA | 3.66 | 23% | +4% |
| Latin America | 0.86 | 5% | +0% |
| Asia Pacific | 0.79 | 5% | +5% |
| JP | 0.63 | 4% | −9% |
| Other countries | 0.60 | 4% | −3% |
| CN | 0.45 | 3% | −75% |
| Cost of revenue | −3.56 | 23% | |
| Gross profit | 12.25 | 77% margin | +1pp |
| R&D | −4.05 | 26% | +4pp |
| SG&A | −2.65 | 17% | +0pp |
| Other | −0.56 | 3% | +0pp |
| Operating profit | 4.99 | 32% margin | +0pp |
| Tax | −0.57 | ||
| Net profit | 4.43 | 28% margin | −6pp |
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