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Side-by-side financial comparison of Mastercard (MA) and Merck & Co. (MRK). Click either name above to swap in a different company.
Merck & Co. is the larger business by last-quarter revenue ($16.3B vs $8.4B, roughly 1.9× Mastercard). Mastercard runs the higher net margin — 46.4% vs 0.9%, a 45.6% gap on every dollar of revenue. On growth, Mastercard posted the faster year-over-year revenue change (16.0% vs 4.9%). Over the past eight quarters, Mastercard's revenue compounded faster (9.9% CAGR vs 0.5%).
Mastercard Inc. is an American multinational payment card services corporation headquartered in Purchase, New York. It offers a range of payment transaction processing and other related-payment services. Throughout the world, its principal business is to process payments between the banks of merchants and the card-issuing banks or credit unions of the purchasers who use the Mastercard-brand debit, credit and prepaid cards to make purchases. Mastercard has been publicly traded since 2006.
Merck & Co., Inc. is an American multinational pharmaceutical company headquartered in Rahway, New Jersey. The company does business as Merck Sharp & Dohme or MSD outside the United States and Canada. The company is ranked fourth on the list of largest biomedical companies by revenue.
MA vs MRK — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $8.4B | $16.3B |
| Net Profit | $3.9B | $141.0M |
| Gross Margin | — | 74.2% |
| Operating Margin | 58.3% | — |
| Net Margin | 46.4% | 0.9% |
| Revenue YoY | 16.0% | 4.9% |
| Net Profit YoY | 18.0% | -9.5% |
| EPS (diluted) | $4.35 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $8.4B | $16.3B | ||
| Q4 25 | $8.8B | $16.4B | ||
| Q3 25 | $8.6B | $17.3B | ||
| Q2 25 | $8.1B | $15.8B | ||
| Q1 25 | $7.3B | $15.5B | ||
| Q4 24 | $7.5B | $15.6B | ||
| Q3 24 | $7.4B | $16.7B | ||
| Q2 24 | $7.0B | $16.1B |
| Q1 26 | $3.9B | $141.0M | ||
| Q4 25 | $4.1B | $3.0B | ||
| Q3 25 | $3.9B | $5.8B | ||
| Q2 25 | $3.7B | $4.4B | ||
| Q1 25 | $3.3B | $5.1B | ||
| Q4 24 | $3.3B | $3.7B | ||
| Q3 24 | $3.3B | $3.2B | ||
| Q2 24 | $3.3B | $5.5B |
| Q1 26 | — | 74.2% | ||
| Q4 25 | — | 66.2% | ||
| Q3 25 | — | 77.7% | ||
| Q2 25 | — | 77.5% | ||
| Q1 25 | — | 78.0% | ||
| Q4 24 | — | 75.5% | ||
| Q3 24 | — | 75.5% | ||
| Q2 24 | — | 76.8% |
| Q1 26 | 58.3% | — | ||
| Q4 25 | 55.8% | 20.9% | ||
| Q3 25 | 58.8% | 39.0% | ||
| Q2 25 | 58.7% | 31.6% | ||
| Q1 25 | 57.2% | 38.0% | ||
| Q4 24 | 52.6% | 26.7% | ||
| Q3 24 | 54.3% | 24.6% | ||
| Q2 24 | 58.0% | 37.3% |
| Q1 26 | 46.4% | 0.9% | ||
| Q4 25 | 46.1% | 18.1% | ||
| Q3 25 | 45.7% | 33.5% | ||
| Q2 25 | 45.5% | 28.0% | ||
| Q1 25 | 45.2% | 32.7% | ||
| Q4 24 | 44.6% | 24.0% | ||
| Q3 24 | 44.3% | 19.0% | ||
| Q2 24 | 46.8% | 33.9% |
| Q1 26 | $4.35 | — | ||
| Q4 25 | $4.52 | $1.19 | ||
| Q3 25 | $4.34 | $2.32 | ||
| Q2 25 | $4.07 | $1.76 | ||
| Q1 25 | $3.59 | $2.01 | ||
| Q4 24 | $3.64 | $1.49 | ||
| Q3 24 | $3.53 | $1.24 | ||
| Q2 24 | $3.50 | $2.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $7.9B | — |
| Total DebtLower is stronger | $19.0B | — |
| Stockholders' EquityBook value | $6.7B | — |
| Total Assets | $52.4B | — |
| Debt / EquityLower = less leverage | 2.82× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $7.9B | — | ||
| Q4 25 | $10.6B | $14.6B | ||
| Q3 25 | $10.3B | $18.2B | ||
| Q2 25 | $9.0B | $8.6B | ||
| Q1 25 | $7.6B | $9.2B | ||
| Q4 24 | $8.4B | $13.7B | ||
| Q3 24 | $11.1B | $14.6B | ||
| Q2 24 | $7.0B | $11.4B |
| Q1 26 | $19.0B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $6.7B | — | ||
| Q4 25 | $7.7B | $52.6B | ||
| Q3 25 | $7.9B | $51.9B | ||
| Q2 25 | $7.9B | $49.0B | ||
| Q1 25 | $6.7B | $48.3B | ||
| Q4 24 | $6.5B | $46.3B | ||
| Q3 24 | $7.4B | $44.5B | ||
| Q2 24 | $7.4B | $43.6B |
| Q1 26 | $52.4B | — | ||
| Q4 25 | $54.2B | $136.9B | ||
| Q3 25 | $53.3B | $129.5B | ||
| Q2 25 | $51.4B | $117.5B | ||
| Q1 25 | $48.5B | $115.1B | ||
| Q4 24 | $48.1B | $117.1B | ||
| Q3 24 | $47.2B | $117.5B | ||
| Q2 24 | $42.3B | $112.6B |
| Q1 26 | 2.82× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.0B | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.77× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.0B | — | ||
| Q4 25 | $5.0B | $2.9B | ||
| Q3 25 | $5.7B | $7.8B | ||
| Q2 25 | $4.6B | $3.3B | ||
| Q1 25 | $2.4B | $2.5B | ||
| Q4 24 | $4.8B | $3.5B | ||
| Q3 24 | $5.1B | $9.3B | ||
| Q2 24 | $3.1B | $5.6B |
| Q1 26 | — | — | ||
| Q4 25 | $4.9B | $1.8B | ||
| Q3 25 | $5.5B | $6.8B | ||
| Q2 25 | $4.6B | $2.5B | ||
| Q1 25 | $2.2B | $1.2B | ||
| Q4 24 | $4.7B | $2.5B | ||
| Q3 24 | $5.0B | $8.5B | ||
| Q2 24 | $3.0B | $4.8B |
| Q1 26 | — | — | ||
| Q4 25 | 55.5% | 11.1% | ||
| Q3 25 | 63.8% | 39.6% | ||
| Q2 25 | 56.1% | 16.0% | ||
| Q1 25 | 30.6% | 7.5% | ||
| Q4 24 | 63.3% | 16.1% | ||
| Q3 24 | 68.2% | 51.1% | ||
| Q2 24 | 43.4% | 30.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 6.3% | ||
| Q3 25 | 2.1% | 5.7% | ||
| Q2 25 | 0.5% | 4.8% | ||
| Q1 25 | 2.2% | 8.6% | ||
| Q4 24 | 1.3% | 6.0% | ||
| Q3 24 | 1.5% | 4.7% | ||
| Q2 24 | 1.7% | 4.9% |
| Q1 26 | 0.77× | — | ||
| Q4 25 | 1.23× | 0.96× | ||
| Q3 25 | 1.44× | 1.35× | ||
| Q2 25 | 1.24× | 0.74× | ||
| Q1 25 | 0.73× | 0.49× | ||
| Q4 24 | 1.45× | 0.92× | ||
| Q3 24 | 1.57× | 2.94× | ||
| Q2 24 | 0.96× | 1.03× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
