Coverage summary
Aardvark Labs Capital Research has covered Merck & Co. (MRK) since October 31, 2025. The company is in the Healthcare sector. This page lists 5 reports: 5 earnings recaps.
The latest is the Q3 2026 Earnings Recap, published October 31, 2026. That report moved the rating from Hold to Underperform. The rating has changed twice since coverage began.
Translations: 4 in Chinese.
The Excel model for MRK holds 22 quarters and 5 fiscal years of history and 10 quarters and 5 fiscal years of projections. It was last updated September 26, 2026.
Rating history
All MRK reports
Recap: Q3 2026
Downgrading Merck to Underperform: The Beat Was Purchase Timing and a Tax Rate, 2027 Is Another Investment Year, and the Stock Has Run Past Fair Value
Recap: Q2 2026
Merck Met Every Upgrade Condition We Set, and We Are Still on Hold: The Pipeline De-Risked, but a 60% Run and a Down Second Half Got There First
Recap: Q1 2026
A Textbook Operating Quarter the Market Shrugged Off: Keytruda Tops $8B and the Guide Rises, But a Pipeline Failure and Serial Dealmaking Keep Us Sidelined
Recap: Q4 2025
Merck Beats and Re-Rates to a 52-Week High, But a No-Growth 2026 Guide and the Keytruda Cliff Cap the Upside
Recap: Q3 2025
Keytruda Clears $8 Billion and Merck Still Trades at 9.6x: Initiating at Outperform