Merck & Co. Cash Flow Statement
MRK / Health Care|15 years of annual SEC 10-K data (FY2011-FY2025)
Covers operating cash flow, capital expenditures, free cash flow, share buybacks, and dividends paid across 15 fiscal years. All figures from audited SEC 10-K filings.
Merck & Co. generated $16.5B in operating cash flow and $12.4B in free cash flow in FY2025. Free cash flow margin was 19.0% of revenue.
Based on SEC 10-K filings.
Key Data Points
- Strong profit margin: 29.6%
- Strong return on equity: 36.7%
Data sourced from SEC EDGAR filings. Not investment advice.
| Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $18.3B | $17.1B | $365.0M | $14.5B | $13.0B | $7.1B | $9.8B | $6.2B | $2.4B | $3.9B | $4.4B | $11.9B | $4.4B | $6.2B | $6.3B |
| Depreciation & Amortization | - | - | - | - | - | - | $3.7B | $4.5B | $4.7B | $5.5B | $6.4B | $6.7B | $7.0B | $7.0B | $7.4B |
| Operating Cash Flow | $16.5B | $21.5B | $13.0B | $19.1B | $13.1B | $10.3B | $13.4B | $10.9B | $6.5B | $10.4B | $12.5B | $8.0B | $11.7B | $10.0B | $12.4B |
| Capital Expenditures | $4.1B | $3.4B | $3.9B | $4.4B | $4.4B | $4.4B | $3.4B | $2.6B | $1.9B | $1.6B | $1.3B | $1.3B | $1.5B | $2.0B | $1.7B |
| Free Cash Flow | $12.4B | $18.1B | $9.1B | $14.7B | $8.7B | $5.8B | $10.1B | $8.3B | $4.6B | $8.8B | $11.3B | $6.7B | $10.1B | $8.1B | $10.7B |
| Share Buybacks | $5.1B | $1.3B | $1.3B | $0 | $840.0M | $1.3B | $4.8B | $9.1B | $4.0B | $3.4B | $4.2B | $7.7B | $6.5B | $2.6B | $1.9B |
| Dividends Paid | $8.2B | $7.8B | $7.4B | $7.0B | $6.6B | $6.2B | $5.7B | $5.2B | $5.2B | $5.1B | $5.1B | $5.2B | $5.2B | $5.1B | $4.7B |
| FCF Margin | 19.0% | 28.2% | 15.2% | 24.8% | 17.8% | 14.0% | 25.7% | 19.6% | 11.4% | 22.0% | 28.5% | 15.8% | 22.9% | 17.1% | 22.2% |