Stock Analysis on Net

Merck & Co. Inc. (NYSE:MRK)

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Microsoft Excel

Long-term Activity Ratios (Summary)

Merck & Co. Inc., long-term (investment) activity ratios (quarterly data)

Microsoft Excel
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
Net fixed asset turnover 2.70 2.69 2.69 2.66 2.61 2.63 2.62 2.66 2.77 2.89 2.85 2.73 2.53 2.57 2.61 2.55 2.67
Total asset turnover 0.55 0.54 0.55 0.58 0.56 0.56 0.56 0.54 0.54 0.55 0.53 0.51 0.46 0.51 0.52 0.51 0.52
Equity turnover 1.39 1.42 1.43 1.52 1.60 1.44 1.51 1.24 1.29 1.33 1.32 1.32 1.28 1.33 1.41 1.73 1.90

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Merck & Co. Inc. net fixed asset turnover ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Merck & Co. Inc. total asset turnover ratio deteriorated from Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 not reaching Q2 2024 level.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Merck & Co. Inc. equity turnover ratio deteriorated from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Net Fixed Asset Turnover

Merck & Co. Inc., net fixed asset turnover calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Sales 15,624 16,657 16,112 15,775 14,631 15,962 15,035 14,487 13,830 14,959 14,593 15,901 13,521 13,154 11,402 10,627 12,514 12,551 10,872 12,057
Property, plant and equipment, at cost, net of accumulated depreciation 23,779 23,446 23,221 23,045 23,051 22,526 22,231 21,758 21,422 20,424 20,059 19,747 19,279 18,565 18,064 18,295 17,986 16,919 15,789 15,269
Long-term Activity Ratio
Net fixed asset turnover1 2.70 2.69 2.69 2.66 2.61 2.63 2.62 2.66 2.77 2.89 2.85 2.73 2.53 2.57 2.61 2.55 2.67
Benchmarks
Net Fixed Asset Turnover, Competitors2
AbbVie Inc. 10.97 10.80 10.95 10.92 10.89 11.18 11.33 11.51 11.76 11.82 11.57 11.18 11.00 10.75 10.41 9.67 8.73
Amgen Inc. 4.89 5.06 4.85 4.70 4.53 4.61 4.58 4.56 4.57 4.73 4.77 4.75 4.69 4.89 4.92 4.93 4.96
Bristol-Myers Squibb Co. 6.77 6.87 6.79 6.75 6.77 6.93 7.11 7.30 7.38 7.74 7.90 7.77 7.67 7.75 7.66 7.43 7.22
Danaher Corp. 4.78 4.90 5.08 5.20 5.25 6.01 6.68 7.31 7.96 8.40 8.12 7.94 7.77 7.71 7.84 7.59 6.83
Eli Lilly & Co. 2.63 2.53 2.62 2.64 2.64 2.70 2.62 2.63 2.81 3.14 3.18 3.22 3.15 3.11 3.02 2.95 2.83
Gilead Sciences Inc. 5.28 5.22 5.17 5.13 5.07 4.88 4.91 4.88 4.93 5.01 5.13 5.18 5.27 5.40 5.27 5.06 4.90
Johnson & Johnson 4.33 4.28 4.38 4.36 4.28 4.65 4.37 4.58 4.79 5.29 5.21 5.07 4.95 4.95 4.79 4.59 4.40
Pfizer Inc. 3.46 3.26 2.97 2.98 3.14 3.88 4.48 5.46 6.17 6.47 6.64 6.12 5.46 4.79 3.89 3.31 3.01
Regeneron Pharmaceuticals Inc. 3.09 3.12 3.13 3.10 3.16 3.27 3.23 3.19 3.23 3.70 3.91 4.64 4.62 3.99 3.69 2.82 2.64
Thermo Fisher Scientific Inc. 4.61 4.50 4.56 4.56 4.54 4.74 4.68 4.68 4.84 5.12 5.02 4.87 4.71 5.54 5.83 5.85 5.45
Vertex Pharmaceuticals Inc. 8.98 9.51 8.61 8.68 8.51 8.59 8.47 8.28 8.06 7.78 7.59 7.18 6.92 6.84 6.54 6.51 6.47

Based on: 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).

1 Q4 2024 Calculation
Net fixed asset turnover = (SalesQ4 2024 + SalesQ3 2024 + SalesQ2 2024 + SalesQ1 2024) ÷ Property, plant and equipment, at cost, net of accumulated depreciation
= (15,624 + 16,657 + 16,112 + 15,775) ÷ 23,779 = 2.70

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Merck & Co. Inc. net fixed asset turnover ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Total Asset Turnover

Merck & Co. Inc., total asset turnover calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Sales 15,624 16,657 16,112 15,775 14,631 15,962 15,035 14,487 13,830 14,959 14,593 15,901 13,521 13,154 11,402 10,627 12,514 12,551 10,872 12,057
Total assets 117,106 117,532 112,630 105,849 106,675 106,727 104,469 107,796 109,160 107,081 107,095 106,668 105,694 93,494 90,688 90,847 91,588 89,800 90,615 84,913
Long-term Activity Ratio
Total asset turnover1 0.55 0.54 0.55 0.58 0.56 0.56 0.56 0.54 0.54 0.55 0.53 0.51 0.46 0.51 0.52 0.51 0.52
Benchmarks
Total Asset Turnover, Competitors2
AbbVie Inc. 0.42 0.39 0.39 0.37 0.40 0.40 0.41 0.42 0.42 0.41 0.40 0.40 0.38 0.37 0.36 0.33 0.30
Amgen Inc. 0.35 0.34 0.32 0.30 0.28 0.28 0.28 0.28 0.38 0.38 0.41 0.41 0.40 0.37 0.40 0.38 0.39
Bristol-Myers Squibb Co. 0.52 0.51 0.49 0.46 0.47 0.49 0.48 0.49 0.48 0.48 0.47 0.46 0.42 0.41 0.40 0.38 0.36
Danaher Corp. 0.31 0.29 0.30 0.28 0.28 0.29 0.33 0.35 0.37 0.39 0.38 0.36 0.35 0.34 0.34 0.33 0.29
Eli Lilly & Co. 0.57 0.54 0.54 0.56 0.53 0.55 0.54 0.52 0.58 0.62 0.62 0.62 0.58 0.58 0.56 0.54 0.53
Gilead Sciences Inc. 0.48 0.52 0.52 0.48 0.43 0.44 0.44 0.43 0.43 0.43 0.43 0.43 0.40 0.41 0.39 0.37 0.36
Johnson & Johnson 0.49 0.49 0.48 0.50 0.51 0.53 0.47 0.47 0.51 0.55 0.54 0.53 0.52 0.51 0.51 0.49 0.47
Pfizer Inc. 0.30 0.28 0.26 0.25 0.26 0.32 0.36 0.48 0.51 0.51 0.52 0.50 0.45 0.39 0.33 0.29 0.27
Regeneron Pharmaceuticals Inc. 0.38 0.37 0.37 0.38 0.40 0.41 0.41 0.41 0.42 0.50 0.52 0.63 0.63 0.57 0.58 0.52 0.50
Thermo Fisher Scientific Inc. 0.44 0.42 0.43 0.44 0.43 0.45 0.46 0.46 0.46 0.49 0.47 0.44 0.41 0.53 0.57 0.54 0.47
Vertex Pharmaceuticals Inc. 0.49 0.48 0.51 0.43 0.43 0.44 0.47 0.49 0.49 0.52 0.54 0.56 0.56 0.57 0.55 0.53 0.53

Based on: 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).

1 Q4 2024 Calculation
Total asset turnover = (SalesQ4 2024 + SalesQ3 2024 + SalesQ2 2024 + SalesQ1 2024) ÷ Total assets
= (15,624 + 16,657 + 16,112 + 15,775) ÷ 117,106 = 0.55

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Merck & Co. Inc. total asset turnover ratio deteriorated from Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 not reaching Q2 2024 level.

Equity Turnover

Merck & Co. Inc., equity turnover calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Sales 15,624 16,657 16,112 15,775 14,631 15,962 15,035 14,487 13,830 14,959 14,593 15,901 13,521 13,154 11,402 10,627 12,514 12,551 10,872 12,057
Total Merck & Co., Inc. stockholders’ equity 46,313 44,502 43,582 40,364 37,581 41,246 38,693 46,834 45,991 44,458 43,243 40,883 38,184 35,794 33,294 26,945 25,317 29,186 27,642 26,205
Long-term Activity Ratio
Equity turnover1 1.39 1.42 1.43 1.52 1.60 1.44 1.51 1.24 1.29 1.33 1.32 1.32 1.28 1.33 1.41 1.73 1.90
Benchmarks
Equity Turnover, Competitors2
AbbVie Inc. 16.94 9.21 8.11 6.79 5.24 4.56 4.35 4.27 3.36 3.62 3.91 3.48 3.65 4.07 4.27 3.66 3.50
Amgen Inc. 5.45 4.14 4.99 5.61 4.32 3.35 3.73 4.66 6.77 6.71 10.17 26.68 3.63 2.96 2.93 2.56 2.58
Bristol-Myers Squibb Co. 2.96 2.77 2.73 2.76 1.53 1.55 1.41 1.44 1.49 1.43 1.45 1.49 1.29 1.22 1.21 1.14 1.12
Danaher Corp. 0.48 0.46 0.47 0.44 0.45 0.49 0.54 0.58 0.63 0.67 0.66 0.65 0.65 0.65 0.62 0.61 0.56
Eli Lilly & Co. 3.17 2.87 2.87 2.80 3.17 2.86 2.67 2.47 2.68 2.90 3.40 3.14 3.15 3.58 4.15 3.69 4.35
Gilead Sciences Inc. 1.48 1.52 1.51 1.56 1.18 1.22 1.28 1.27 1.27 1.27 1.34 1.37 1.28 1.27 1.34 1.33 1.34
Johnson & Johnson 1.24 1.25 1.21 1.22 1.24 1.23 1.20 1.30 1.24 1.29 1.25 1.27 1.27 1.30 1.28 1.28 1.31
Pfizer Inc. 0.72 0.65 0.64 0.61 0.67 0.71 0.79 0.92 1.05 1.08 1.16 1.12 1.05 0.91 0.79 0.68 0.66
Regeneron Pharmaceuticals Inc. 0.48 0.47 0.48 0.49 0.51 0.53 0.53 0.53 0.54 0.64 0.69 0.83 0.86 0.78 0.82 0.77 0.77
Thermo Fisher Scientific Inc. 0.86 0.86 0.89 0.93 0.92 0.96 0.99 1.04 1.02 1.01 1.01 1.00 0.96 1.01 1.04 1.02 0.93
Vertex Pharmaceuticals Inc. 0.67 0.68 0.70 0.55 0.56 0.58 0.61 0.64 0.64 0.67 0.70 0.73 0.75 0.75 0.73 0.71 0.71

Based on: 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).

1 Q4 2024 Calculation
Equity turnover = (SalesQ4 2024 + SalesQ3 2024 + SalesQ2 2024 + SalesQ1 2024) ÷ Total Merck & Co., Inc. stockholders’ equity
= (15,624 + 16,657 + 16,112 + 15,775) ÷ 46,313 = 1.39

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Merck & Co. Inc. equity turnover ratio deteriorated from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.