Stock Analysis on Net
Stock Analysis on Net

Merck & Co. Inc. (NYSE:MRK)

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Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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Merck & Co. Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Loans payable and current portion of long-term debt
Trade accounts payable
Accrued and other current liabilities
Income taxes payable
Dividends payable
Current liabilities
Long-term debt, excluding current portion
Deferred income taxes
Other noncurrent liabilities
Noncurrent liabilities
Total liabilities
Common stock, $0.50 par value
Other paid-in capital
Retained earnings
Accumulated other comprehensive loss
Treasury stock, at cost
Total Merck & Co., Inc. stockholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Loans Payable and Current Portion of Long-Term Debt
The proportion of loans payable and the current portion of long-term debt relative to total liabilities and equity decreased markedly from 7.49% at the beginning of 2020 to a low around 0.83% by the end of 2023, with slight fluctuations thereafter. This indicates a progressive reduction in short-term debt obligations over the observed periods.
Trade Accounts Payable
Trade accounts payable as a percentage of total liabilities and equity remained relatively stable, fluctuating modestly between roughly 3.0% and 5.0%. There is no clear long-term upward or downward trend, suggesting consistent supplier credit management.
Accrued and Other Current Liabilities
These liabilities hovered around 12% to 15%, experiencing moderate volatility but no significant trend. The ratio slightly decreased after mid-2021 but stabilized around 12% to 14% towards the end of the timeline, reflecting steady management of short-term obligations outside of payables.
Income Taxes Payable
The share of income taxes payable increased noticeably from about 1.2% in early 2020 to values above 4.5% by mid-2025, indicating growing tax liabilities relative to total liabilities and equity, potentially due to increased taxable income or timing differences in tax payments.
Dividends Payable
Dividends payable remained quite stable, mostly between 1.5% and 1.9%, suggesting consistent dividend policies and timely accounting of declared dividends.
Current Liabilities
Current liabilities as a whole exhibited variability, initially decreasing from nearly 28% in early 2020 to around 22% by early 2022, followed by a modest increase and fluctuation in the 21% to 25% range. This implies some adjustment in short-term liability structure but no dramatic shifts.
Long-Term Debt, Excluding Current Portion
Long-term debt represented a significant portion of total liabilities and equity, ranging mostly between 25% and 32%. After a general decline in the early quarters of 2021, long-term debt increased again towards 2023 but then fluctuated slightly, indicating deliberate debt management at a relatively stable high level.
Deferred Income Taxes
Deferred income taxes showed a declining trend from a peak of 3.26% in late 2020 down to near 0.7% to 1.2% in recent years, suggesting changes in tax deferrals or timing differences impacting deferred tax liabilities.
Other Noncurrent Liabilities
A continuous decline characterized other noncurrent liabilities, lowering from about 13.6% in early 2020 to approximately 5.9% by late 2025. This reduction points to decreased obligations or reclassification into current liabilities or equity over time.
Noncurrent Liabilities
Overall noncurrent liabilities decreased from around 44% in early 2020 to the mid-30% range by the end of the period, reflecting the decline in other noncurrent liabilities and relative stability in long-term debt.
Total Liabilities
Total liabilities as a proportion of total liabilities and equity trended downward, moving from approximately 69% in 2020 to about 58% towards the end of the timeline, indicating a gradual deleveraging or shift towards greater equity financing.
Common Stock
The percentage attributed to common stock remained relatively flat around 1.4% to 2.1%, showing stable capitalization through stock issuance or repurchase activities.
Other Paid-In Capital
Other paid-in capital fluctuated prominently, declining from a peak near 48.5% in mid-2021 to approximately 34.6% by late 2025, suggesting possible repurchases, retirements, or reclassification affecting this equity component.
Retained Earnings
Retained earnings hovered largely between 50% and 58%, with some fluctuations but no consistent directional change, implying continued accumulation of earned surplus over the reporting periods.
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss remained a negative component within a narrow range between approximately -7.5% and -4.0%, indicating relatively stable unrealized losses or adjustments on equity items.
Treasury Stock
Treasury stock represented a significant negative equity component, though its magnitude decreased from about -67% in early 2020 to -47.7% by late 2025. This may reflect shares being reissued or retired, contributing to a smaller negative impact over time.
Total Stockholders’ Equity
Equity as a proportion of total liabilities and equity increased from roughly 28% in 2020 to upward of 42% by the middle of the observed timeline, subsequently fluctuating around 40%. This reflects stronger equity financing relative to liabilities.
Noncontrolling Interests
Noncontrolling interests remained negligible and stable near 0.04% to 0.11%, indicating minimal impact on overall equity composition.
Overall Balance Structure
The firm exhibited a gradual reduction in total liabilities relative to equity, signaling deleveraging tendencies. Short-term debt and noncurrent liabilities decreased, while equity components, especially retained earnings and accumulated paid-in capital (despite some decline), largely maintained their significance. Treasury stock's lessening negative effect further supported equity growth. Income tax payables increased notably, reflecting tax-related obligations. These patterns suggest ongoing efforts to strengthen the financial position through debt management and equity retention.