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AI brief of an SEC Form 8-K · Merck & (MRK)

Merck Q4 sales rise 5% to $16.4 billion; 2026 EPS outlook includes $3.65 charge

Mixed Impact 4 of 5 earnings Written later

Merck reported fourth-quarter 2025 sales of $16.4 billion, up 5%, while GAAP EPS fell to $1.19 from $1.48 a year earlier. For 2026, it expects non-GAAP EPS of $5.00 to $5.15, a range that includes a one-time charge of about $3.65 per share for the Cidara Therapeutics acquisition, which shareholders should weigh against the 2025 non-GAAP EPS of $8.98.

Key points

  • Q4 2025 GAAP EPS was $1.19 vs. $1.48 in Q4 2024; non-GAAP EPS was $2.04 vs. $1.72.
  • Full-year 2025 sales were $65.0 billion, up 1%; GAAP EPS was $7.28 vs. $6.74.
  • 2026 outlook: worldwide sales of $65.5 billion to $67.0 billion and non-GAAP EPS of $5.00 to $5.15.
  • KEYTRUDA/KEYTRUDA QLEX full-year sales were $31.7 billion, up 7%; GARDASIL/GARDASIL 9 fell 39% to $5.2 billion.

The filing

CompanyMerck & (MRK)
Form8-K, current report
Filed with the SECFeb 3, 2026, 6:38 AM ET
Accession number0001104659-26-009495

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 2:16 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 03, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.