Merck & Co., Inc.

Pharmaceutical Preparations·RAHWAY, NJ·FY end 12/31·CIK 310158

CEO Pay Ratio

191:1

Robert M. Davis

CEO Total Comp

$20.8M

Robert M. Davis

Median Employee

$108,614

Revenue

$65.0B

FY 2025

Net Income

$18.3B

FY 2025

Free Cash Flow

$12.4B

FY 2025

Net Margin

28.1%

Insider Net (180d)

0 buys / 0 sales

CEO Pay Accountability

CEO comp as % of net income

0.11%

For every $1,000 of profit, $1.14 flows to the CEO.

CEO comp as % of buybacks

0.41%

CEO comp equals 4.1‰ of cash returned to shareholders via buybacks.

5-year history · USD

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	Trend
Revenue	$65.0B	$64.2B	$60.1B	$59.3B	$48.7B
Gross Profit	—	—	—	—	—	—
Operating Income	—	—	—	—	—	—
Net Income	$18.3B	$17.1B	$365.0M	$14.5B	$13.0B
Operating CF	$16.5B	$21.5B	—	—	—
Capex	$4.1B	$3.4B	$3.9B	—	—
Free Cash Flow	$12.4B	$18.1B	—	—	—
Buybacks	$5.1B	$1.3B	$1.3B	$0	$840.0M
Dividends	$8.2B	$7.8B	$7.4B	$7.0B	$6.6B

Gross Margin	—	—	—	—	—	—
Operating Margin	—	—	—	—	—	—
Net Margin	28.1%	26.7%	0.6%	24.5%	26.8%
FCF Margin	19.0%	28.2%	—	—	—
R&D / Revenue	24.3%	28.0%	50.8%	22.9%	25.1%
Effective Tax	13.3%	14.1%	80.0%	11.7%	11.0%
Debt / Equity	0.89	0.74	0.90	0.63	0.80
Buybacks / FCF	41.1%	7.2%	—	—	—

FY 2025

Executive	Salary	Stock	Options	Bonus / Inc.	Other	Total
Robert M. DavisChairman, Chief Executive Officer and President	$1.6M	$12.1M	$3.4M	$2.3M	$1.3M	$20.8M
Caroline LitchfieldExecutive Vice President and Chief Financial Officer	$1.2M	$1.0M	$1.1M	$4.1M	$7.6M	—
Dean LiM.D., Ph.D. Executive Vice President and President, Merck Research Laboratories	$1.5M	$1.2M	$1.4M	$4.7M	$9.1M	—
Jennifer ZacharyExecutive Vice President and General Counsel	$1.1M	$750.0K	$995.7K	$2.9M	$6.0M	—
Sanat ChattopadhyayExecutive Vice President and President, Merck Manufacturing Division	$982.2K	$660.0K	$920.7K	$2.7M	$5.6M	—