Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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Merck & Co. Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Selected Financial Data since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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Merck & Co. Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 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).
- Sales
- Sales figures demonstrated volatility over the observed periods, with initial fluctuations in 2020, a noticeable rebound in 2021, and steady growth throughout 2022 and 2023. Peak values were recorded in the third quarter of 2024, followed by a slight decline by the end of the dataset.
- Cost of Sales
- Cost of sales showed an inconsistent pattern with significant spikes during certain quarters such as Q4 2020 and Q1 2022, indicating variable input costs or changes in operational efficiency. Generally, costs rose in conjunction with sales increments but at a less consistent rate.
- Gross Profit
- Gross profit mirrored trends in sales but with less volatility. There was a dip in Q4 2020, followed by a recovery and gradual increase through subsequent years. The overall trend suggests improving margin management despite cost fluctuations.
- Selling, General and Administrative Expenses
- These expenses remained relatively stable with modest fluctuations, indicating controlled overhead costs. However, spikes were observed in Q4 of several years, potentially linked to increased operational activities or discretionary spending during those periods.
- Research and Development Expenses
- R&D expenses exhibited high variability, with notably large increases in specific quarters, such as Q4 2020 and Q2 2023. The significant spike in Q2 2023 suggests a major investment or reallocation of resources toward innovation, followed by a return to previous expense levels.
- Restructuring Costs
- Restructuring costs remained generally minimal but showed periodic increases, particularly in the latter half of 2020 and sporadically throughout 2023. These peaks may reflect operational adjustments or strategic realignments during these periods.
- Operating Income (Loss)
- Operating income demonstrated substantial volatility, with losses concentrated in Q4 2020 and Q2 2023. Aside from these negative outliers, operating income showed an overall positive trend, reaching highs in quarters following loss periods, indicating recovery and operational resilience.
- Other Income (Expense), Net
- This category fluctuated between positive and negative values without a clear trend. Periods of income were interspersed with expenses, suggesting variability in non-operational financial activities or one-time items impacting the net results.
- Income from Continuing Operations Before Taxes
- Incomes before taxes followed operating income trends closely, with negative impacts visible in late 2020 and mid-2023. Despite volatility, the general pattern reflected a recovery and growth phase from 2021 onward.
- Taxes on Income from Continuing Operations
- Tax expenses fluctuated in alignment with pre-tax incomes but with notable exceptions showing negative tax values, implying tax benefits or credits in certain quarters. Variability in tax expense consistency suggests changes in tax strategies or impacts from earnings volatility.
- Net Income (Loss) from Continuing Operations
- Net income from continuing operations was positive for most periods, except for Q4 2020 and Q2 2023, which recorded losses. The trend shows recovery in subsequent quarters, with strong earnings by the end of the dataset reflecting improved profitability.
- Income from Discontinued Operations, Net of Taxes
- Income from discontinued operations was intermittent and relatively minor in monetary terms, appearing only in 2021 and early 2022, indicating limited impact on overall net income during the observed period.
- Net Income (Loss)
- Net income largely reflected trends seen in continuing operations, with losses in the final quarter of 2020 and mid-2023 offset by robust gains in surrounding periods. This confirms the primary influence of continuing operations on the company’s profitability.
- Net Income (Loss) Attributable to Noncontrolling Interests
- Amounts attributable to noncontrolling interests were minor and fluctuated between small positive and negative values, indicating a limited impact on consolidated net income attributable to the company.
- Net Income (Loss) Attributable to Merck & Co., Inc.
- The net income attributable to the company followed the consolidated net income trends closely, with significant losses in Q4 2020 and Q2 2023 and recovery to elevated income levels in subsequent quarters. This reflects consistent operational and financial performance patterns at the parent entity level.