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Merck & Co., Inc. operates as a healthcare company worldwide. The company offers human health pharmaceutical for various areas under the Keytruda, Welireg, Gardasil, ProQuad, M-M-R II, Varivax, Vaxneuvance, RotaTeq, Pneumovax 23, Bridion, Dificid, Zerbaxa, Noxafil, Winrevair, Adempas, Verquvo, Lagevrio, Isentress/Isentress HD, Delstrigo, Pifeltro, Belsomra, Januvia, and Janumet brands. It also provides veterinary pharmaceuticals, vaccines and health management solutions and services, such as livestock products under the Nuflor, Bovilis/Vista, Bovilis Cryptium, Banamine, Estrumate, Matrix, Resflor, Zuprevo, Revalor, Safe-Guard, M+Pac, Porcilis, Circumvent, Nobilis/Innovax, Paracox and Coccivac, Exzolt, Slice, Imvixa, Clynav, Aquavac/Norvax, Aquaflor, Flexolt brands; Allflex Livestock Intelligence solutions; and companion animal products under the Bravecto One-Month, Bravecto Injectable/Quantum, Bravecto Plus, Sentinel Spectrum, Sentinel Flavor Tabs, Optimmune, Nobivac NXT, GilvetMab, Otomax, Mometamax, Mometamax Ultra, Posatex, Caninsulin/Vetsulin, Panacur, Regumate, Prestige, Scalibor/Exspot, Sure Petcare, and Home Again brands. The company has development and commercialization agreement for three of Daiichi Sankyo's deruxtecan ADC candidates; AstraZeneca PLC to co-development and co-commercialize AstraZeneca's Lynparza products for multiple cancer types, and Koselugo for multiple indications; licensed to develop, manufacture and commercialize LM-299, a novel investigational PD-1/VEGF bispecific antibody from LaNova; and collaboration agreement with Eisai Co., Ltd., Bayer AG, and Ridgeback Biotherapeutics LP, as well Moderna, Inc. It has a collaboration agreement with Antengene Corporation Limited to evaluate the combination of ATG-022, a CLDN18.2-targeting antibody-drug conjugate, and anti-PD-1 therapy, as well as KEYTRUDA (pembrolizumab) in patients with advanced solid tumors. Merck & Co., Inc. was founded in 1891 and is headquartered in Rahway, New Jersey.
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Merck CDR (CAD Hedged) is a Toronto-listed depositary receipt for Merck & Co., a multinational pharmaceutical company that develops and commercializes prescription medicines, vaccines and animal health products. Long-term growth may be supported by its oncology and vaccine franchises, pipeline progress and global commercial scale, and the CAD-hedged structure may benefit Canadian investors by reducing currency risk.
Material risks include clinical and regulatory setbacks, patent expirations with generic competition, pricing and reimbursement pressures, and R&D execution that could weaken future revenues.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
| Income before tax | 21067.00M | 19936.00M | 1889.00M | 16444.00M |
| Net income | 18254.00M | 17117.00M | 365.00M | 14519.00M |
| Selling general administrative | 10610.00M | 10733.00M | 10382.00M | 9948.00M |
| Gross profit | 52984.00M | 49470.00M | 44200.00M | 42077.00M |
| Operating income | 21221.00M | 19912.00M | 1782.50M | 17945.00M |
| Tax provision | 2804.00M | 2803.00M | 1512.00M | 1918.00M |
| Interest income | -663.00M | 1069.00M | 811.00M | 2461.00M |
| Extraordinary items | - | - | 0.00M | 0.00M |
| Total revenue | 65011.00M | 64168.00M | 60115.00M | 59283.00M |
| Total operating expenses | 43790.00M | 44256.00M | 58332.50M | 41338.00M |
| Cost of revenue | 12027.00M | 14698.00M | 15915.00M | 17206.00M |
| Net income applicable to common shares | 18254.00M | 17117.00M | 365.00M | 14519.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
| Total assets | 136866.00M | 117106.00M | 106675.00M | 109160.00M |
| Intangible assets | 26681.00M | 16370.00M | 18011.00M | 20269.00M |
| Other current assets | 10518.00M | 7865.00M | 7645.00M | 6509.00M |
| Total liab | 84204.00M | 70793.00M | 69094.00M | 63169.00M |
| Total stockholder equity | 52606.00M | 46313.00M | 37581.00M | 45991.00M |
| Common stock | - | 1788.00M | 1788.00M | 1788.00M |
| Capital stock | 1788.00M | - | - | - |
| Retained earnings | 73075.00M | 63069.00M | 53895.00M | 61081.00M |
| Good will | 21579.00M | 21668.00M | 21197.00M | 21204.00M |
| Other assets | - | 13544.00M | 9310.00M | 6752.00M |
| Cash | 14565.00M | - | - | - |
| Cash and equivalents | - | 13242.00M | 6841.00M | 12694.00M |
| Total current liabilities | 28327.00M | 28420.00M | 25694.00M | 24239.00M |
| Net debt | 34774.00M | - | - | - |
| Short term debt | - | 0.00M | 0.00M | 0.00M |
| Short long term debt | 2589.00M | - | - | - |
| Other stockholder equity | - | -4945.00M | -5161.00M | -4768.00M |
| Property plant equipment | - | 25149.00M | 24488.00M | 22768.00M |
| Total current assets | 43516.00M | 38782.00M | 32168.00M | 35722.00M |
| Long term investments | 956.00M | - | - | - |
| Short term investments | 0.00M | 447.00M | 252.00M | 498.00M |
| Net receivables | 11775.00M | 10278.00M | 10349.00M | 9450.00M |
| Long term debt | 46750.00M | 34462.00M | 33683.00M | 28745.00M |
| Inventory | 6658.00M | 6109.00M | 6358.00M | 5911.00M |
| Accounts payable | 4404.00M | - | - | - |
| Non currrent assets other | 18818.00M | - | - | - |
| Non current assets total | 93350.00M | - | - | - |
| Long term debt total | - | 34462.00M | 33683.00M | 28745.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
| Investments | 471.00M | - | - | - |
| Total cashflows from investing activities | - | -7734.00M | -14083.00M | -4960.00M |
| Net borrowings | 11377.00M | - | - | - |
| Total cash from financing activities | -1922.00M | -7032.00M | -4810.00M | -9119.00M |
| Net income | 18254.00M | 17133.00M | 377.00M | 14526.00M |
| Change in cash | 1372.00M | 6409.00M | -5864.00M | 4606.00M |
| Begin period cash flow | 13318.00M | - | - | - |
| End period cash flow | 14690.00M | - | - | - |
| Total cash from operating activities | 16472.00M | 21468.00M | 13006.00M | 19095.00M |
| Depreciation | 5838.00M | 2104.00M | 1828.00M | 1824.00M |
| Other cashflows from investing activities | - | -4362.00M | -10220.00M | -572.00M |
| Dividends paid | -8176.00M | 7840.00M | 7445.00M | 7012.00M |
| Change to inventory | -1180.00M | - | - | - |
| Change to account receivables | -1090.00M | - | - | - |
| Sale purchase of stock | -5084.00M | -1129.00M | -1221.00M | 384.00M |
| Other cashflows from financing activities | - | -372.00M | -328.00M | -240.00M |
| Capital expenditures | 4112.00M | 3372.00M | 3863.00M | 4388.00M |
| Change in working capital | -6976.00M | -3667.00M | -2205.00M | -2782.00M |
| Stock based compensation | 820.00M | - | - | - |
| Other non cash items | 511.00M | - | - | - |
| Free cash flow | 12360.00M | - | - | - |
Sector: Healthcare Industry: Drug Manufacturers - General
|
Stock Name
|
Change
(CAD) |
Price
(CAD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| MRK Merck CDR (CAD Hedged) |
1.22 3.80% |
33.30 | 15.70 | 22.32 | 4.40 | 5.36 | 4.81 | 11.07 |
| NOVO Novo Nordisk CDR (CAD Hedged) |
0.92 5.27% |
18.37 | 3.31 | 3.54 | 1.10 | 1.74 | 3.88 | 7.66 |
| AMGN Amgen CDR (CAD Hedged) |
1.29 3.78% |
35.38 | 24.19 | 15.65 | 5.06 | 21.36 | 6.30 | 13.69 |
| GILD Gilead Sciences CDR (CAD Hedged) |
1.30 3.84% |
35.12 | 19.51 | 15.04 | 5.62 | 7.21 | 6.14 | 13.31 |
| SNY Sanofi CDR (CAD Hedged) |
0.60 2.84% |
21.74 | 3.25 | 1.53 | 0.34 | 0.22 | 2.33 | 8.73 |
Merck & Co., Inc. operates as a healthcare company worldwide. The company offers human health pharmaceutical for various areas under the Keytruda, Welireg, Gardasil, ProQuad, M-M-R II, Varivax, Vaxneuvance, RotaTeq, Pneumovax 23, Bridion, Dificid, Zerbaxa, Noxafil, Winrevair, Adempas, Verquvo, Lagevrio, Isentress/Isentress HD, Delstrigo, Pifeltro, Belsomra, Januvia, and Janumet brands. It also provides veterinary pharmaceuticals, vaccines and health management solutions and services, such as livestock products under the Nuflor, Bovilis/Vista, Bovilis Cryptium, Banamine, Estrumate, Matrix, Resflor, Zuprevo, Revalor, Safe-Guard, M+Pac, Porcilis, Circumvent, Nobilis/Innovax, Paracox and Coccivac, Exzolt, Slice, Imvixa, Clynav, Aquavac/Norvax, Aquaflor, Flexolt brands; Allflex Livestock Intelligence solutions; and companion animal products under the Bravecto One-Month, Bravecto Injectable/Quantum, Bravecto Plus, Sentinel Spectrum, Sentinel Flavor Tabs, Optimmune, Nobivac NXT, GilvetMab, Otomax, Mometamax, Mometamax Ultra, Posatex, Caninsulin/Vetsulin, Panacur, Regumate, Prestige, Scalibor/Exspot, Sure Petcare, and Home Again brands. The company has development and commercialization agreement for three of Daiichi Sankyo's deruxtecan ADC candidates; AstraZeneca PLC to co-development and co-commercialize AstraZeneca's Lynparza products for multiple cancer types, and Koselugo for multiple indications; licensed to develop, manufacture and commercialize LM-299, a novel investigational PD-1/VEGF bispecific antibody from LaNova; and collaboration agreement with Eisai Co., Ltd., Bayer AG, and Ridgeback Biotherapeutics LP, as well Moderna, Inc. It has a collaboration agreement with Antengene Corporation Limited to evaluate the combination of ATG-022, a CLDN18.2-targeting antibody-drug conjugate, and anti-PD-1 therapy, as well as KEYTRUDA (pembrolizumab) in patients with advanced solid tumors. Merck & Co., Inc. was founded in 1891 and is headquartered in Rahway, New Jersey.
| Name | Title | Year Born |
|---|---|---|
| Mr. Robert M. Davis J.D. | Chairman, President & CEO | 1967 |
| Ms. Caroline A. Litchfield | Executive VP & CFO | 1969 |
| Ms. Betty D. Larson | Executive VP & Chief Human Resources Officer | 1976 |
| Mr. Richard R. DeLuca Jr. | Executive VP & President of Merck Animal Health | 1963 |
| Dr. Dean Y. Li M.D., Ph.D. | Executive VP & President of Merck Research Laboratories | 1963 |
| Mr. Dalton E. Smart III | Senior VP of Finance, Principal Accounting Officer & Global Controller | 1967 |
| Mr. David Michael Williams | Executive VP and Chief Information & Digital Officer | 1969 |
| Mr. Peter Dannenbaum | Vice President of Investor Relations | NA |
| Ms. Jennifer L. Zachary J.D. | Executive VP & General Counsel | 1978 |
| Mr. Sanat Chattopadhyay | Executive VP & President of Merck Manufacturing Division | 1960 |
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