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Abbott Laboratories vs Merck: revenue, profit, margins and growth compared

Abbott Laboratories brought in $44.3B of revenue in fiscal 2025, Merck $65B in fiscal 2025. Revenue changed by +5.7% at Abbott Laboratories and +1.3% at Merck on the year before, so Abbott Laboratories grew faster. Abbott Laboratories kept 14.7% of its revenue as net profit, Merck 28.1%. Free cash flow was $7.4B at Abbott Laboratories and $12.4B at Merck.

Side by side, latest fiscal year

ABTMRK
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$44.3B$65B
Revenue growth+5.7%+1.3%
Net income$6.5B$18.3B
Net margin14.7%28.1%
Free cash flow$7.4B$12.4B
Free cash flow margin16.7%19.0%
Earnings per share (diluted)$3.72$7.28
Cash$8.5B$14.6B
Debt$12.9B$49.1B
Price to earnings27.220.4
Market value$175.3B$367.1B
Dividend yield2.37%2.20%
Rank by revenue in sector#18 of 523 · Health care#12 of 523 · Health care

Over the years

Revenue
ABT FY2018: $30.6BABT FY2019: $31.9BABT FY2020: $34.6BABT FY2021: $43.1BABT FY2022: $43.7BABT FY2023: $40.1BABT FY2024: $42BABT FY2025: $44.3BMRK FY2018: $42.3BMRK FY2019: $39.1BMRK FY2020: $41.5BMRK FY2021: $48.7BMRK FY2022: $59.3BMRK FY2023: $60.1BMRK FY2024: $64.2BMRK FY2025: $65BFY18FY19FY20FY21FY22FY23FY24FY25
ABT $44.3BMRK $65B
Net income
ABT FY2018: $2.4BABT FY2019: $3.7BABT FY2020: $4.5BABT FY2021: $7.1BABT FY2022: $6.9BABT FY2023: $5.7BABT FY2024: $13.4BABT FY2025: $6.5BMRK FY2018: $6.2BMRK FY2019: $9.8BMRK FY2020: $7.1BMRK FY2021: $13BMRK FY2022: $14.5BMRK FY2023: $365MMRK FY2024: $17.1BMRK FY2025: $18.3BFY18FY19FY20FY21FY22FY23FY24FY25
ABT $6.5BMRK $18.3B
Net margin
ABT FY2018: 7.7%ABT FY2019: 11.6%ABT FY2020: 13.0%ABT FY2021: 16.4%ABT FY2022: 15.9%ABT FY2023: 14.3%ABT FY2024: 31.9%ABT FY2025: 14.7%MRK FY2018: 14.7%MRK FY2019: 25.2%MRK FY2020: 17.0%MRK FY2021: 26.8%MRK FY2022: 24.5%MRK FY2023: 0.6%MRK FY2024: 26.7%MRK FY2025: 28.1%FY18FY19FY20FY21FY22FY23FY24FY25
ABT 14.7%MRK 28.1%
Revenue growth
ABT FY2019: +4.3%ABT FY2020: +8.5%ABT FY2021: +24.5%ABT FY2022: +1.3%ABT FY2023: -8.1%ABT FY2024: +4.6%ABT FY2025: +5.7%MRK FY2019: -7.5%MRK FY2020: +6.1%MRK FY2021: +17.3%MRK FY2022: +21.7%MRK FY2023: +1.4%MRK FY2024: +6.7%MRK FY2025: +1.3%FY19FY20FY21FY22FY23FY24FY25
ABT +5.7%MRK +1.3%
Free cash flow
ABT FY2018: $4.9BABT FY2019: $4.5BABT FY2020: $5.7BABT FY2021: $8.6BABT FY2022: $7.8BABT FY2023: $5.1BABT FY2024: $6.4BABT FY2025: $7.4BMRK FY2018: $8.3BMRK FY2019: $10.1BMRK FY2020: $5.8BMRK FY2021: $8.7BMRK FY2022: $14.7BMRK FY2023: $9.1BMRK FY2024: $18.1BMRK FY2025: $12.4BFY18FY19FY20FY21FY22FY23FY24FY25
ABT $7.4BMRK $12.4B

Fiscal years as each company reports them; the two may end in different months.

Questions about Abbott Laboratories and Merck

Which is bigger by revenue, Abbott Laboratories or Merck?

Merck is bigger by revenue: $65B in fiscal 2025, against $44.3B for Abbott Laboratories in fiscal 2025.

Which keeps more of its revenue as profit, Abbott Laboratories or Merck?

Abbott Laboratories had a net margin of 14.7% in fiscal 2025; Merck had 28.1% in fiscal 2025.

Which grew revenue faster, Abbott Laboratories or Merck?

In their latest fiscal years revenue changed by +5.7% at Abbott Laboratories and +1.3% at Merck.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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