Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Merck & Co. Inc., liquidity ratios (quarterly data)
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Merck & Co. Inc. current ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Merck & Co. Inc. quick ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Merck & Co. Inc. cash ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023 not reaching Q2 2023 level. |
Current Ratio
Merck & Co. Inc., current ratio calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Current assets | 32,168) | 31,954) | 29,977) | 33,402) | 35,722) | 33,561) | 32,116) | 31,184) | 30,266) | 31,058) | 28,665) | 26,909) | 27,764) | 26,577) | 29,343) | 26,174) | 27,483) | 26,142) | 24,298) | 25,351) | ||||||
| Current liabilities | 25,694) | 23,094) | 23,394) | 23,131) | 24,239) | 22,998) | 23,168) | 22,316) | 23,872) | 23,728) | 21,906) | 26,361) | 27,327) | 20,405) | 22,178) | 23,483) | 22,220) | 20,684) | 20,085) | 18,543) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Current ratio1 | 1.25 | 1.38 | 1.28 | 1.44 | 1.47 | 1.46 | 1.39 | 1.40 | 1.27 | 1.31 | 1.31 | 1.02 | 1.02 | 1.30 | 1.32 | 1.11 | 1.24 | 1.26 | 1.21 | 1.37 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||||
| AbbVie Inc. | 0.87 | 0.96 | 0.89 | 0.96 | 0.96 | 0.93 | 0.84 | 0.82 | 0.79 | 1.01 | 0.91 | 0.83 | 0.84 | 0.95 | 0.86 | 3.14 | 3.18 | 1.15 | 0.89 | 1.04 | ||||||
| Amgen Inc. | 1.65 | 2.86 | 2.77 | 3.14 | 1.41 | 1.68 | 1.53 | 1.44 | 1.59 | 1.64 | 1.31 | 1.66 | 1.81 | 2.28 | 2.18 | 1.59 | 1.44 | 2.89 | 2.89 | 2.77 | ||||||
| Bristol-Myers Squibb Co. | 1.43 | 1.18 | 1.39 | 1.42 | 1.25 | 1.42 | 1.44 | 1.32 | 1.52 | 1.47 | 1.54 | 1.56 | 1.58 | 1.67 | 1.47 | 1.66 | 1.60 | 3.83 | 3.88 | 1.93 | ||||||
| Eli Lilly & Co. | 0.94 | 1.05 | 1.13 | 1.30 | 1.05 | 1.13 | 1.10 | 1.27 | 1.23 | 1.30 | 1.15 | 1.42 | 1.40 | 1.36 | 1.22 | 1.11 | 1.16 | 1.17 | 1.13 | 1.12 | ||||||
| Gilead Sciences Inc. | 1.43 | 1.34 | 1.02 | 1.28 | 1.29 | 1.30 | 1.43 | 1.48 | 1.27 | 1.37 | 1.36 | 1.37 | 1.40 | 3.25 | 2.33 | 3.04 | 3.10 | 2.96 | 3.76 | 3.62 | ||||||
| Johnson & Johnson | 1.16 | 1.21 | 1.12 | 1.07 | 0.99 | 1.43 | 1.42 | 1.39 | 1.35 | 1.34 | 1.39 | 1.28 | 1.21 | 1.48 | 1.25 | 1.31 | 1.26 | 1.26 | 1.33 | 1.44 | ||||||
| Pfizer Inc. | 0.91 | 2.38 | 2.12 | 1.37 | 1.22 | 1.59 | 1.42 | 1.39 | 1.40 | 1.39 | 1.37 | 1.48 | 1.35 | 1.40 | 1.42 | 1.03 | 0.88 | 0.90 | 1.47 | 1.54 | ||||||
| Regeneron Pharmaceuticals Inc. | 5.69 | 5.18 | 5.45 | 5.45 | 5.06 | 5.36 | 5.12 | 4.76 | 3.56 | 3.71 | 3.57 | 3.12 | 3.63 | 3.89 | 2.12 | 4.21 | 3.67 | 4.03 | 3.88 | 4.58 | ||||||
| Thermo Fisher Scientific Inc. | 1.75 | 1.63 | 1.42 | 1.27 | 1.48 | 1.74 | 1.65 | 1.56 | 1.50 | 3.19 | 2.78 | 2.53 | 2.13 | 2.93 | 2.62 | 2.32 | 1.92 | 1.80 | 1.49 | 1.69 | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 32,168 ÷ 25,694 = 1.25
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Merck & Co. Inc. current ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
Quick Ratio
Merck & Co. Inc., quick ratio calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 6,841) | 8,605) | 5,660) | 9,707) | 12,694) | 11,145) | 9,675) | 8,556) | 8,096) | 10,016) | 8,575) | 6,981) | 8,062) | 7,356) | 11,103) | 7,425) | 9,676) | 7,869) | 6,659) | 8,076) | ||||||
| Short-term investments | 252) | 168) | 718) | 680) | 498) | 103) | 453) | 372) | —) | —) | —) | —) | —) | —) | —) | 7) | 774) | 149) | 446) | 722) | ||||||
| Accounts receivable, net of allowance for doubtful accounts | 10,349) | 10,394) | 11,030) | 10,415) | 9,450) | 9,482) | 9,643) | 9,828) | 9,230) | 8,571) | 7,843) | 8,235) | 7,851) | 8,422) | 7,577) | 8,182) | 6,778) | 8,442) | 7,964) | 7,608) | ||||||
| Total quick assets | 17,442) | 19,167) | 17,408) | 20,802) | 22,642) | 20,730) | 19,771) | 18,756) | 17,326) | 18,587) | 16,418) | 15,216) | 15,913) | 15,778) | 18,680) | 15,614) | 17,228) | 16,460) | 15,069) | 16,406) | ||||||
| Current liabilities | 25,694) | 23,094) | 23,394) | 23,131) | 24,239) | 22,998) | 23,168) | 22,316) | 23,872) | 23,728) | 21,906) | 26,361) | 27,327) | 20,405) | 22,178) | 23,483) | 22,220) | 20,684) | 20,085) | 18,543) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Quick ratio1 | 0.68 | 0.83 | 0.74 | 0.90 | 0.93 | 0.90 | 0.85 | 0.84 | 0.73 | 0.78 | 0.75 | 0.58 | 0.58 | 0.77 | 0.84 | 0.66 | 0.78 | 0.80 | 0.75 | 0.88 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||||
| AbbVie Inc. | 0.63 | 0.71 | 0.63 | 0.66 | 0.69 | 0.69 | 0.61 | 0.56 | 0.56 | 0.75 | 0.65 | 0.61 | 0.60 | 0.68 | 0.58 | 2.88 | 2.91 | 0.92 | 0.64 | 0.78 | ||||||
| Amgen Inc. | 0.99 | 2.41 | 2.34 | 2.62 | 0.95 | 1.17 | 0.99 | 0.90 | 1.06 | 1.19 | 0.86 | 1.16 | 1.30 | 1.65 | 1.60 | 1.10 | 1.01 | 2.28 | 2.41 | 2.37 | ||||||
| Bristol-Myers Squibb Co. | 1.04 | 0.77 | 0.94 | 1.01 | 0.87 | 0.98 | 1.07 | 1.03 | 1.20 | 1.16 | 1.16 | 1.25 | 1.28 | 1.43 | 1.26 | 1.38 | 1.26 | 3.63 | 3.61 | 1.64 | ||||||
| Eli Lilly & Co. | 0.52 | 0.58 | 0.63 | 0.79 | 0.63 | 0.71 | 0.67 | 0.77 | 0.80 | 0.79 | 0.67 | 0.83 | 0.85 | 0.79 | 0.68 | 0.64 | 0.68 | 0.66 | 0.67 | 0.65 | ||||||
| Gilead Sciences Inc. | 1.06 | 0.98 | 0.78 | 0.95 | 0.99 | 0.96 | 1.06 | 1.06 | 0.95 | 1.01 | 1.05 | 0.99 | 1.08 | 2.93 | 2.09 | 2.78 | 2.86 | 2.74 | 3.41 | 3.32 | ||||||
| Johnson & Johnson | 0.82 | 0.86 | 0.84 | 0.81 | 0.71 | 1.10 | 1.09 | 1.06 | 1.04 | 1.03 | 1.04 | 0.97 | 0.91 | 1.17 | 0.92 | 0.98 | 0.94 | 0.93 | 0.95 | 1.01 | ||||||
| Pfizer Inc. | 0.50 | 1.78 | 1.59 | 0.88 | 0.80 | 1.18 | 1.02 | 0.95 | 1.00 | 0.99 | 0.91 | 0.88 | 0.78 | 0.93 | 0.98 | 0.60 | 0.50 | 0.50 | 0.71 | 0.72 | ||||||
| Regeneron Pharmaceuticals Inc. | 4.82 | 4.31 | 4.53 | 4.54 | 4.16 | 4.37 | 4.20 | 3.95 | 2.98 | 3.03 | 2.92 | 2.39 | 2.86 | 3.02 | 1.61 | 3.38 | 2.81 | 3.14 | 2.99 | 3.66 | ||||||
| Thermo Fisher Scientific Inc. | 1.27 | 1.13 | 0.89 | 0.80 | 1.06 | 1.06 | 0.98 | 0.97 | 1.00 | 2.37 | 1.92 | 1.70 | 1.63 | 2.16 | 1.83 | 1.48 | 1.19 | 0.97 | 0.85 | 0.89 | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 17,442 ÷ 25,694 = 0.68
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Merck & Co. Inc. quick ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
Cash Ratio
Merck & Co. Inc., cash ratio calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 6,841) | 8,605) | 5,660) | 9,707) | 12,694) | 11,145) | 9,675) | 8,556) | 8,096) | 10,016) | 8,575) | 6,981) | 8,062) | 7,356) | 11,103) | 7,425) | 9,676) | 7,869) | 6,659) | 8,076) | ||||||
| Short-term investments | 252) | 168) | 718) | 680) | 498) | 103) | 453) | 372) | —) | —) | —) | —) | —) | —) | —) | 7) | 774) | 149) | 446) | 722) | ||||||
| Total cash assets | 7,093) | 8,773) | 6,378) | 10,387) | 13,192) | 11,248) | 10,128) | 8,928) | 8,096) | 10,016) | 8,575) | 6,981) | 8,062) | 7,356) | 11,103) | 7,432) | 10,450) | 8,018) | 7,105) | 8,798) | ||||||
| Current liabilities | 25,694) | 23,094) | 23,394) | 23,131) | 24,239) | 22,998) | 23,168) | 22,316) | 23,872) | 23,728) | 21,906) | 26,361) | 27,327) | 20,405) | 22,178) | 23,483) | 22,220) | 20,684) | 20,085) | 18,543) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Cash ratio1 | 0.28 | 0.38 | 0.27 | 0.45 | 0.54 | 0.49 | 0.44 | 0.40 | 0.34 | 0.42 | 0.39 | 0.26 | 0.30 | 0.36 | 0.50 | 0.32 | 0.47 | 0.39 | 0.35 | 0.47 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||||
| AbbVie Inc. | 0.34 | 0.38 | 0.27 | 0.24 | 0.31 | 0.36 | 0.29 | 0.23 | 0.28 | 0.43 | 0.30 | 0.31 | 0.30 | 0.33 | 0.25 | 2.50 | 2.56 | 0.61 | 0.32 | 0.38 | ||||||
| Amgen Inc. | 0.60 | 2.05 | 2.00 | 2.22 | 0.59 | 0.80 | 0.57 | 0.51 | 0.66 | 0.87 | 0.55 | 0.82 | 0.91 | 1.24 | 1.09 | 0.68 | 0.69 | 1.94 | 2.05 | 2.07 | ||||||
| Bristol-Myers Squibb Co. | 0.55 | 0.33 | 0.43 | 0.49 | 0.42 | 0.48 | 0.63 | 0.66 | 0.78 | 0.73 | 0.68 | 0.75 | 0.83 | 1.03 | 0.92 | 0.95 | 0.84 | 3.10 | 3.02 | 0.99 | ||||||
| Eli Lilly & Co. | 0.11 | 0.11 | 0.15 | 0.23 | 0.13 | 0.18 | 0.18 | 0.19 | 0.26 | 0.28 | 0.22 | 0.26 | 0.29 | 0.30 | 0.20 | 0.14 | 0.21 | 0.15 | 0.20 | 0.19 | ||||||
| Gilead Sciences Inc. | 0.64 | 0.57 | 0.48 | 0.56 | 0.57 | 0.54 | 0.61 | 0.62 | 0.56 | 0.56 | 0.64 | 0.58 | 0.65 | 2.52 | 1.79 | 2.34 | 2.50 | 2.39 | 3.03 | 2.97 | ||||||
| Johnson & Johnson | 0.50 | 0.53 | 0.53 | 0.54 | 0.42 | 0.75 | 0.73 | 0.70 | 0.70 | 0.70 | 0.65 | 0.60 | 0.59 | 0.79 | 0.52 | 0.54 | 0.54 | 0.51 | 0.49 | 0.53 | ||||||
| Pfizer Inc. | 0.27 | 1.42 | 1.29 | 0.55 | 0.54 | 0.82 | 0.70 | 0.61 | 0.73 | 0.71 | 0.61 | 0.51 | 0.47 | 0.64 | 0.70 | 0.31 | 0.26 | 0.25 | 0.40 | 0.39 | ||||||
| Regeneron Pharmaceuticals Inc. | 3.17 | 2.75 | 2.88 | 2.89 | 2.46 | 2.44 | 2.49 | 2.34 | 1.45 | 1.56 | 1.05 | 1.09 | 1.33 | 1.29 | 0.85 | 1.95 | 1.53 | 1.63 | 1.56 | 2.14 | ||||||
| Thermo Fisher Scientific Inc. | 0.58 | 0.43 | 0.22 | 0.22 | 0.50 | 0.26 | 0.17 | 0.23 | 0.33 | 1.55 | 1.01 | 0.80 | 1.00 | 1.21 | 0.97 | 0.54 | 0.39 | 0.22 | 0.30 | 0.19 | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 7,093 ÷ 25,694 = 0.28
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Merck & Co. Inc. cash ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023 not reaching Q2 2023 level. |