Merck & Co. Q3 FY26: 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
- Jul 1 – Sep 30, 2026
- Reported
- Nov 4, 2026
Revenue$18.09B
+5% year over year
Gross profit$13.19B
73% margin
Operating profit$5.59B
31% margin
Net profit$5.07B
28% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 18.09 | 100% | +5% |
| US | 10.62 | 59% | |
| EMEA | 3.89 | 22% | |
| Latin America | 0.98 | 5% | |
| Asia Pacific | 0.78 | 4% | |
| Other countries | 0.77 | 4% | |
| JP | 0.59 | 3% | |
| CN | 0.47 | 3% | |
| Cost of revenue | −4.89 | 27% | |
| Gross profit | 13.19 | 73% margin | −5pp |
| R&D | −4.54 | 25% | +1pp |
| SG&A | −2.89 | 16% | +1pp |
| Other | −0.18 | 1% | |
| Operating profit | 5.59 | 31% margin | |
| Tax | −0.52 | ||
| Net profit | 5.07 | 28% margin | −5pp |
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