Merck & Co. (MRK) delivered mixed results in Q2 FY2026 on revenue of $16.6B versus the $16.4B estimate (+5.1% YoY) and EPS of $-0.13. The next Merck & Co. (MRK) earnings date is Oct 29, 2026. Below is the full Merck & Co. earnings breakdown — the risk-adjusted verdict, price forecast, technicals, options and hedge-fund 13F holdings, decoded in plain English.
Merck & Co. (MRK) Earnings Analysis — key stats
Next earnings date
Oct 29, 2026
Latest reported quarter
Q2 FY2026
Earnings verdict
Mixed
EPS beat rate
6 of last 8 (quarters above estimate)
Avg next-day move
±3.4% (over the last 8 reports)
Post-earnings direction
Up 4 / Down 4 (of the last 8 reports)
Implied move (next report)
±20.4% (options-derived · into Oct 29, 2026)
Institutional ownership
101.7% (13F as of 2026-06-30)
Top 10 holders
37.5% (of shares outstanding)
Insider activity
2 buys / 10 sells (recent Form 4 filings)
Revenue
$16.6B (vs $16.4B est · +1.5% surprise · +5.1% YoY)
EPS
$-0.13 (vs $-0.27 est · +51.9% surprise · -130.7% YoY)
Share price
$150.69 (-1.2%)
Market cap
$372.2B
Merck & Co. (MRK) Earnings Analysis — beat / miss history
Quarter
Revenue
EPS
EPS surprise
Next-day move
Verdict
Q3 FY2026
$16.6B vs $16.4B est
$-0.13 vs $-0.27 est
+51.9%
+0.4%
Mixed
Q2 FY2026
$16.3B vs $15.8B est
$-1.28 vs $-1.47 est
+12.9%
+1.1%
Beat
Q1 FY2026
$16.4B vs $16.2B est
$2.04 vs $2.01 est
+1.5%
+4.4%
In line
Q4 FY2025
$17.3B vs $17.0B est
$2.58 vs $2.36 est
+9.3%
-0.7%
Mixed
Q3 FY2025
$15.8B vs $15.9B est
$2.13 vs $2.03 est
+4.9%
-2.7%
Mixed
Q2 FY2025
$15.5B vs $15.3B est
$2.22 vs $2.13 est
+4.2%
+5.1%
Mixed
Q1 FY2025
$15.6B vs $15.5B est
$1.72 vs $1.85 est
-7.0%
-10.1%
Mixed
Q4 FY2024
$16.7B vs $16.5B est
$1.57 vs $1.50 est
+4.7%
-2.8%
Mixed
Top institutional holders
Holder
% outstanding
Shares
Value
QoQ change
Blackrock, INC.
9.2%
227.0M
$29.2B
+0.5%
Vanguard Capital Management LLC
6.5%
161.3M
$20.7B
+0.2%
State Street Corp
4.9%
120.4M
$15.6B
+0.9%
Wellington Management Group Llp
3.5%
86.2M
$11.1B
+2.3%
Vanguard Portfolio Management LLC
2.7%
67.7M
$8.7B
+0.6%
Geode Capital Management, LLC
2.5%
60.7M
$7.8B
+2.0%
Sixth Street Partners Management Company, L.P.
2.2%
54.4M
$7.0B
+100.0%
Charles Schwab Investment Management INC
2.2%
54.4M
$7.0B
+9.2%
Morgan Stanley
2.0%
48.6M
$6.3B
+2.1%
Fmr LLC
1.8%
45.4M
$5.8B
+2.1%
Recent insider transactions
Insider
Role
Date
Type
Shares
Value
Guindo Chirfi
officer: EVP, Access, Policy & Comms
2026-08-13
Sell
10K
$1.4M
Zachary Jennifer
officer: EVP, General Counsel
2026-08-12
Buy
13K
$1.1M
Zachary Jennifer
officer: EVP, General Counsel
2026-08-12
Buy
41K
$4.9M
Zachary Jennifer
officer: EVP, General Counsel
2026-08-12
Sell
80K
$10.7M
Zachary Jennifer
officer: EVP, General Counsel
2026-08-12
Sell
41K
$4.9M
Zachary Jennifer
officer: EVP, General Counsel
2026-08-12
Sell
13K
$1.1M
DeLuca Richard R.
officer: EVP&Pres, Merck Animal Heallth
2026-08-10
Sell
21K
$2.7M
DeLuca Richard R.
officer: EVP&Pres, Merck Animal Heallth
2026-08-11
Sell
7K
$973165
What you'll find
Next Merck & Co. (MRK) earnings date, the expected move and the estimates priced in
A clear Beat / Miss / In-line / Mixed verdict the moment Merck & Co. reports
Revenue & EPS versus estimates, guidance and segment trends
Multi-lens price forecast — analyst, quant, technical and options views
Deep research: red flags, risk decoder and earnings-call sentiment
Technicals, options / implied volatility and unusual-activity signals
Hedge-fund and legendary-investor 13F holdings in Merck & Co. (MRK)
Side-by-side peer and historical earnings comparison
Frequently asked questions
When is Merck & Co.'s next earnings date?
Merck & Co.'s (MRK) next scheduled earnings date is Oct 29, 2026. Magnisto shows the confirmed date, the options-implied expected move and the revenue and EPS estimates Wall Street is modeling into the report.
Did Merck & Co. (MRK) beat or miss earnings?
In Q2 FY2026, Merck & Co. (MRK) posted mixed results — revenue of $16.6B versus the $16.4B estimate (+1.5% surprise) and EPS of $-0.13 versus $-0.27 expected (+51.9% surprise). Magnisto decodes every Merck & Co. (MRK) report into a clear Beat, Miss, In-line or Mixed verdict and checks whether guidance was raised, held or cut.
How often does Merck & Co. beat earnings estimates?
Over its last 8 reported quarters, Merck & Co. (MRK) beat Wall Street EPS estimates 6 times, most recently a mixed result in Q3 FY2026. Magnisto tracks every Merck & Co. (MRK) quarter's revenue and EPS versus consensus and grades each one Beat, Miss, In-line or Mixed at a unified ±2% threshold.
How much does Merck & Co. stock move after earnings?
Over its last 8 quarterly reports, Merck & Co. (MRK) moved an average of ±3.4% the day after earnings — ranging from -10.1% (Q1 FY2025) to +5.1% (Q2 FY2025). The stock rose after 4 of those 8 reports and fell after 4. Heading into its next report on Oct 29, 2026, options-implied volatility is pricing in a move of roughly ±20.4% (derived). Magnisto tracks the realized post-earnings move for every Merck & Co. (MRK) quarter alongside the beat/miss verdict — past moves don't predict the next one.
Who are the largest shareholders of Merck & Co.?
Institutions hold about 101.7% of Merck & Co.'s (MRK) shares outstanding as of the 2026-06-30 13F quarter. Its largest institutional holders include Blackrock, INC. (9.2%), Vanguard Capital Management LLC (6.5%), State Street Corp (4.9%). Magnisto lists Merck & Co.'s (MRK) top 13F holders with each stake size and its quarter-over-quarter change.
Are insiders buying or selling Merck & Co. (MRK)?
In the most recent Form 4 filings Magnisto tracks, Merck & Co. (MRK) insiders recorded 2 purchases and 10 sales — net selling. Insider transactions are one signal among many and are often routine (option exercises or scheduled 10b5-1 sales), so Magnisto shows the raw feed for you to judge.
What is the forecast for Merck & Co. (MRK) stock?
Magnisto blends analyst price targets, quantitative research, technical trend and options-implied moves into a scenario range for Merck & Co. (MRK), anchored to the current $150.69 share price, so you can weigh the bull, base and bear cases for Merck & Co. side by side.
Is Merck & Co. (MRK) a buy right now?
Magnisto does not give buy or sell tips. It gives you the institutional-grade evidence — the verdict, valuation, risks, technicals and hedge-fund 13F flows — so you can decide whether Merck & Co. fits your own thesis and risk profile. This is research, not investment advice.