Merck & Co., Inc. (MRK) debt
What Merck & Co. owes, when it comes due, and what it costs to carry, from the balances and cash flows the company reports to the U.S. Securities and Exchange Commission.
At a glance
| Metric | Jun 2026 | Jun 2025 | Change |
|---|---|---|---|
| Total debt | $53.90B | $35.40B | +$18.50B |
| Due within a year | $2.83B | $1.43B | +$1.39B |
| Long-term debt | $51.08B | $33.97B | +$17.11B |
| Cash and equivalents | $6.85B | $8.01B | −$1.16B |
| Net debt | $47.05B | $27.39B | +$19.66B |
Debt over time
| Balance date | Total debt | Due within a year | Long-term debt | Cash |
|---|---|---|---|---|
| Jun 2026 | $53.90B | $2.83B | $51.08B | $6.85B |
| Mar 2026 | $49.10B | $2.44B | $46.67B | $5.33B |
| Dec 2025 | $49.30B | $2.59B | $46.75B | $14.56B |
| Sep 2025 | $41.40B | $1.41B | $39.97B | $18.17B |
| Jun 2025 | $35.40B | $1.43B | $33.97B | $8.01B |
| Mar 2025 | $34.80B | $1.36B | $33.48B | $8.63B |
| Dec 2024 | $37.10B | $2.65B | $34.46B | $13.24B |
| Sep 2024 | $38.10B | $3.15B | $34.98B | $14.59B |
| Jun 2024 | $37.80B | $3.07B | $34.72B | $11.30B |
| Mar 2024 | $34.20B | $3.08B | $31.14B | $5.58B |
| Dec 2023 | $35.10B | $1.37B | $33.68B | $6.84B |
| Sep 2023 | $34.90B | $887M | $33.97B | $8.61B |
When it comes due
Principal due by year as of December 31, 2025.
| Due | Principal | Share of total |
|---|---|---|
| Within 1 year | $2.60B | 19.8% |
| Year 2 | $2.70B | 20.6% |
| Year 3 | $2.10B | 16.0% |
| Year 4 | $3.00B | 22.9% |
| Year 5 | $2.70B | 20.6% |
| Total | $13.10B | 100% |
Interest cost and borrowing
| Fiscal year | Interest expense | Borrowed | Repaid |
|---|---|---|---|
| FY Dec 2025 | $1.36B | $13.88B | $2.50B |
| FY Dec 2024 | $1.27B | $3.60B | $1.29B |
| FY Dec 2023 | $1.15B | $5.94B | $1.75B |
| FY Dec 2022 | $962M | $0 | $2.25B |
| FY Dec 2021 | $806M | $7.94B | $2.32B |
* Fiscal fourth quarter computed from the annual filing minus the three reported quarters.
About these figures
These are the balances Merck & Co. reports in its SEC filings as of each balance-sheet date, and the interest, borrowing and repayments it reports for each period. This page does not show market prices or yields of the company's bonds. "Long-term debt" is the line as the company tags it in its filings and may or may not include the portion due within a year.
All figures from company filings with the SEC.