Pfizer vs Merck: Market Cap, Revenue and Profit Compared
Big pharma rivals. Size and profitability side by side, using the exact figures from SEC filings.
Data updated: Nov 6, 2026 · Based on each company's latest annual report, so fiscal year ends may differ.
Quick answers
Which has the larger market cap?
Merck is worth about $364.1 billion, 2.1 times Pfizer (about $171.8 billion). Based on the Nov 5, 2026 close.
Which has more revenue?
Merck brought in $65.011B in its latest fiscal year (FY2025), against $62.579B for Pfizer (FY2025).
Which is more profitable?
Merck has the higher net margin at 28.1%, against 12.4% for Pfizer. Out of every $100 of revenue, Merck keeps more as net income.
Which is growing faster?
Merck had the faster revenue growth in its latest fiscal year: +1.3%, against −1.6% for Pfizer.
Pfizer
PFE · FY2025 annual report
Revenue $62.579B
Net income $7.771B
- Cost of revenue25.7%
- R&D16.7%
- Other expenses45.6%
- Net income12.4%
Merck
MRK · FY2025 annual report
Revenue $65.011B
Net income $18.254B
- Cost of revenue25.2%
- R&D24.3%
- Other expenses18.1%
- Income taxes & other4.3%
- Net income28.1%
Size
| Item | Pfizer | Merck |
|---|---|---|
| Market cap | $171.8B#66 of 289 | $364.1B#25 of 289 |
| Revenue | $62.579B#65 of 299 | $65.011B#61 of 299 |
| Operating income | —Not ranked | —Not ranked |
| Net income | $7.771B#52 of 298 | $18.254B#20 of 298 |
| Free cash flow | $9.075B#45 of 261 | $12.36B#31 of 261 |
| Total assets | $208.16B#39 of 299 | $136.866B#61 of 299 |
| Dividends paid | —Not ranked | $8.176B#16 of 214 |
| Dividend per share | $1.72#148 of 205 | $3.28#83 of 205 |
| Dividend yield | 5.8%#5 of 203 | 2.2%#65 of 203 |