Filing Flows › Merck (MRK) › Q3 2026
Merck (MRK) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 4, 2026
Merck (MRK) reported revenue of $18.1B for the third quarter 2026 (Q3 2026), +5% from a year earlier and +9% from the quarter before. Operating margin was 30.7%, net earnings $5.1B (28.0% of revenue).
Merck, Q3 2026: revenue $18.1B (+5% year over year), operating margin 30.7%, net earnings $5.1B, operating cash flow $6.6B. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $18.1B | +9% | +5% |
| Operating profit | $5.6B | — | -18% |
| Net earnings | $5.1B | — | -12% |
| Operating cash flow | $6.6B | +22% | -16% |
| Free cash flow | $5.5B | +23% | -19% |
What changed
Revenue was $18.1B in Q3 2026, up 5% year over year and up 9% from the previous quarter.
Operating profit was $5.6B, a 30.7% margin (down 8.3 points year over year). Operating profit fell $1.2B even though revenue rose $0.81B versus Q3 2025, so costs grew faster than sales. Total costs grew 19% against revenue growth of 5%. Net earnings were $5.1B, down 12% year over year. The effective tax rate was 8.9%.
Operating cash flow was $6.6B (down 16% year over year), 129% of net earnings. Non-cash charges added back $0.73B of depreciation and $0.37B of share-based compensation. Working capital and other items added $0.40B. Capital expenditures of $1.0B left free cash flow of $5.5B.
Questions
What was Merck's revenue in the third quarter 2026?
Merck (MRK) reported revenue of $18.1B for the third quarter 2026 (Q3 2026), +5% from a year earlier and +9% from the quarter before.
Was Merck profitable in the third quarter 2026?
Operating profit was $5.6B (30.7% of revenue) and net earnings $5.1B.
Source: Merck 10-Q on SEC EDGAR.