Merck & Co annual debt-to-equity ratio
2008
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2025
Merck & Co Debt-to-Equity Ratio Growth & History (MRK)
Merck & Co's debt-to-equity ratio was 0.96 for fiscal 2025.
View full Merck & Co company overviewMerck & Co annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.96 | 0.13 | +16.19% |
| 2024 | 2024-12-31 | 0.83 | −0.14 | −14.51% |
| 2023 | 2023-12-31 | 0.97 | 0.27 | +38.90% |
| 2022 | 2022-12-31 | 0.70 | −0.21 | −23.29% |
| 2021 | 2021-12-31 | 0.91 | −0.41 | −31.31% |
| 2020 | 2020-12-31 | 1.32 | 0.27 | +25.27% |
| 2019 | 2019-12-31 | 1.05 | 0.11 | +12.11% |
| 2018 | 2018-12-31 | 0.94 | 0.23 | +32.28% |
| 2017 | 2017-12-31 | 0.71 | 0.09 | +14.87% |
| 2016 | 2016-12-31 | 0.62 | 0.03 | +4.69% |
| 2015 | 2015-12-31 | 0.59 | 0.15 | +34.33% |
| 2014 | 2014-12-31 | 0.44 | −0.06 | −12.78% |
| 2013 | 2013-12-31 | 0.50 | 0.12 | +29.81% |
| 2012 | 2012-12-31 | 0.39 | 0.07 | +21.04% |
| 2011 | 2011-12-31 | 0.32 | −0.01 | −2.39% |
| 2010 | 2010-12-31 | 0.33 | 0.03 | +11.15% |
| 2009 | 2009-12-31 | 0.30 | −0.04 | −11.06% |
| 2008 | 2008-12-31 | 0.33 | — | — |
Merck & Co quarterly debt-to-equity ratio
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Q2.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 1.29 | 0.56 | +77.89% |
| Q1 2026 | 2026-03-31 | 1.07 | 0.35 | +48.65% |
| Q4 2025 | 2025-12-31 | 0.96 | 0.13 | +16.19% |
| Q3 2025 | 2025-09-30 | 0.80 | −0.06 | −6.74% |
| Q2 2025 | 2025-06-30 | 0.72 | −0.14 | −16.69% |
| Q1 2025 | 2025-03-31 | 0.72 | −0.13 | −15.03% |
| Q4 2024 | 2024-12-31 | 0.83 | −0.14 | −14.51% |
| Q3 2024 | 2024-09-30 | 0.86 | 0.01 | +1.18% |
| Q2 2024 | 2024-06-30 | 0.87 | −0.09 | −9.05% |
| Q1 2024 | 2024-03-31 | 0.85 | 0.19 | +29.26% |
| Q4 2023 | 2023-12-31 | 0.97 | 0.27 | +38.90% |
| Q3 2023 | 2023-09-30 | 0.85 | 0.16 | +23.74% |
| Q2 2023 | 2023-06-30 | 0.95 | 0.22 | +30.09% |
| Q1 2023 | 2023-03-31 | 0.66 | −0.12 | −15.73% |
| Q4 2022 | 2022-12-31 | 0.70 | −0.21 | −23.29% |
| Q3 2022 | 2022-09-30 | 0.68 | −0.05 | −7.29% |
| Q2 2022 | 2022-06-30 | 0.73 | −0.06 | −7.90% |
| Q1 2022 | 2022-03-31 | 0.78 | −0.38 | −33.04% |
| Q4 2021 | 2021-12-31 | 0.91 | −0.41 | −31.31% |
| Q3 2021 | 2021-09-30 | 0.74 | −0.25 | −25.00% |
| Q2 2021 | 2021-06-30 | 0.80 | −0.32 | −28.80% |
| Q1 2021 | 2021-03-31 | 1.16 | 0.09 | +8.72% |
| Q4 2020 | 2020-12-31 | 1.32 | 0.27 | +25.27% |
| Q3 2020 | 2020-09-30 | 0.98 | −0.03 | −2.69% |
| Q2 2020 | 2020-06-30 | 1.12 | 0.12 | +11.96% |
| Q1 2020 | 2020-03-31 | 1.07 | 0.09 | +9.29% |
| Q4 2019 | 2019-12-31 | 1.05 | 0.11 | +12.11% |
| Q3 2019 | 2019-09-30 | 1.01 | 0.28 | +38.82% |
| Q2 2019 | 2019-06-30 | 1.00 | 0.28 | +39.40% |
| Q1 2019 | 2019-03-31 | 0.98 | 0.28 | +39.48% |
| Q4 2018 | 2018-12-31 | 0.94 | 0.23 | +32.28% |
| Q3 2018 | 2018-09-30 | 0.73 | 0.02 | +3.11% |
| Q2 2018 | 2018-06-30 | 0.72 | 0.09 | +13.52% |
| Q1 2018 | 2018-03-31 | 0.70 | −0.01 | −2.02% |
| Q4 2017 | 2017-12-31 | 0.71 | 0.09 | +14.87% |
| Q3 2017 | 2017-09-30 | 0.71 | 0.13 | +23.03% |
| Q2 2017 | 2017-06-30 | 0.63 | 0.07 | +12.58% |
| Q1 2017 | 2017-03-31 | 0.72 | 0.13 | +21.47% |
| Q4 2016 | 2016-12-31 | 0.62 | 0.03 | +4.69% |
| Q3 2016 | 2016-09-30 | 0.57 | −0.01 | −2.03% |
| Q2 2016 | 2016-06-30 | 0.56 | −0.01 | −2.13% |
| Q1 2016 | 2016-03-31 | 0.59 | −0.04 | −6.85% |
| Q4 2015 | 2015-12-31 | 0.59 | 0.15 | +34.33% |
| Q3 2015 | 2015-09-30 | 0.59 | −0.03 | −4.72% |
| Q2 2015 | 2015-06-30 | 0.57 | 0.09 | +19.89% |
| Q1 2015 | 2015-03-31 | 0.63 | 0.07 | +12.45% |
| Q4 2014 | 2014-12-31 | 0.44 | −0.06 | −12.78% |
| Q3 2014 | 2014-09-30 | 0.61 | 0.05 | +9.58% |
| Q2 2014 | 2014-06-30 | 0.48 | −0.11 | −19.25% |
| Q1 2014 | 2014-03-31 | 0.56 | 0.17 | +43.35% |
| Q4 2013 | 2013-12-31 | 0.50 | 0.12 | +29.81% |
| Q3 2013 | 2013-09-30 | 0.56 | 0.21 | +59.55% |
| Q2 2013 | 2013-06-30 | 0.59 | 0.25 | +71.85% |
| Q1 2013 | 2013-03-31 | 0.39 | 0.06 | +18.51% |
| Q4 2012 | 2012-12-31 | 0.39 | 0.07 | +21.04% |
| Q3 2012 | 2012-09-30 | 0.35 | 0.02 | +6.83% |
| Q2 2012 | 2012-06-30 | 0.34 | 0.01 | +4.36% |
| Q1 2012 | 2012-03-31 | 0.33 | 0.00 | +0.87% |
| Q4 2011 | 2011-12-31 | 0.32 | −0.01 | −2.39% |
| Q3 2011 | 2011-09-30 | 0.33 | 0.00 | +0.82% |
| Q2 2011 | 2011-06-30 | 0.33 | 0.00 | +1.31% |
| Q1 2011 | 2011-03-31 | 0.33 | −0.00 | −0.58% |
| Q4 2010 | 2010-12-31 | 0.33 | 0.03 | +11.15% |
| Q3 2010 | 2010-09-30 | 0.33 | −0.31 | −48.76% |
| Q2 2010 | 2010-06-30 | 0.33 | −0.35 | −52.03% |
| Q1 2010 | 2010-03-31 | 0.33 | — | — |
| Q4 2009 | 2009-12-31 | 0.30 | −0.04 | −11.06% |
| Q3 2009 | 2009-09-30 | 0.64 | — | — |
| Q2 2009 | 2009-06-30 | 0.68 | — | — |
| Q4 2008 | 2008-12-31 | 0.33 | — | — |
Merck & Co debt-to-equity ratio trends
Over the last five fiscal years, Merck & Co's debt-to-equity ratio decreased from 1.32 to 0.96, a change of −0.36. The latest reported quarter, Q2 2026, shows 1.29.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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