Merck & Co., Inc. (MRK): price to earnings, 10 filed years

P/E at Merck & Co., Inc. was 14.46x in FY2025, the newest filed year. Across the 10 computed years from FY2016 it ranged from 14.46x (FY2025) to 778.71x (FY2023), with a median of 25.41x.

Tonight's figure on the company page: 19.91x, at the close of 2026-10-15, recomputed 2026-10-15. The table is each filed year on its own terms, with the formula below; the current figure may use trailing twelve months or, where the explainer says so, a different denominator.

Year by year

Merck & Co., Inc.: P/E for each filed fiscal year, with the filing behind each.
Fiscal year	P/E	Close used	Read from
FY2016	41.72x	56.13 on 2016-12-30	10-K, filed 2017-02-28
FY2017	64.63x	53.65 on 2017-12-29	10-K, filed 2018-02-27
FY2018	32.91x	72.86 on 2018-12-31	10-K, filed 2019-02-27
FY2019	22.76x	86.72 on 2019-12-31	10-K, filed 2020-02-26
FY2020	28.06x	78.00 on 2020-12-31	10-K, filed 2021-02-25
FY2021	14.91x	76.64 on 2021-12-31	10-K, filed 2022-02-25
FY2022	19.43x	110.95 on 2022-12-30	10-K, filed 2023-02-24
FY2023	778.71x	109.02 on 2023-12-29	10-K, filed 2024-02-26
FY2024	14.76x	99.48 on 2024-12-31	10-K, filed 2025-02-25
FY2025	14.46x	105.26 on 2025-12-31	10-K, filed 2026-02-24

How each year is computed

Close at fiscal year end / diluted earnings per share

P/E, free cash flow yield and EV to EBIT set each filed year against the close on or within a week before that fiscal year's end. The price archive here is about five years deep, so older years of those three read n/a. Per-share figures and share counts are put on today's share count after a confirmed split, the basis the price archive is kept on.

Read further

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.