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Johnson & Johnson vs Merck: JNJ and MRK compared
Johnson & Johnson is the larger company: $25.4B of revenue in its latest quarter (Q3 2026) against $18.1B for Merck (Q3 2026). Johnson & Johnson is growing faster (+6% against +5% a year earlier). Merck is more profitable, with an operating margin of 30.7% against 0.1%.
Where the money goes: JNJ and MRK
Johnson & Johnson (JNJ) · Q3 2026
Johnson & Johnson, Q3 2026: revenue $25.4B (+6% year over year), operating margin 0.1%, net earnings $210M, operating cash flow $7.7B. The chart follows the revenue to costs, profit and cash.
Merck (MRK) · Q3 2026
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.
| Johnson & Johnson (JNJ) | Merck (MRK) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $25.4B | $18.1B |
| Revenue growth, Y/Y | +6% | +5% |
| Gross margin | 68.1% | — |
| Operating margin | 0.1% | 30.7% |
| Net earnings | $210M | $5.1B |
| Net margin | 0.8% | 28.0% |
| Operating cash flow | $7.7B | $6.6B |
| Free cash flow | $6.4B | $5.5B |
| Market value | $676.4B | $363.6B |
| P/E | 42.0× | 151.3× |
| Analysts’ mean target | $279.41 | $161.53 |
Where the revenue comes from
Johnson & Johnson
- Innovative Medicine: $16.8B (66%)
- MEDTECH: $8.6B (34%)
Questions
Which is bigger, Johnson & Johnson or Merck?
Johnson & Johnson is the larger company: $25.4B of revenue in its latest quarter (Q3 2026) against $18.1B for Merck (Q3 2026).
Is Johnson & Johnson or Merck growing faster?
Johnson & Johnson is growing faster (+6% against +5% a year earlier).
Which is more profitable, Johnson & Johnson or Merck?
Merck is more profitable, with an operating margin of 30.7% against 0.1%.
More: Johnson & Johnson earnings · how Johnson & Johnson makes money · Merck earnings · how Merck makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 21, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.