Merck & Co., Inc.
MRK Healthcare Drug Manufacturers General
Merck & Co., Inc.’s revenue for fiscal 2025 (year ended December 2025) was $65.0 billion, up 1.31% from fiscal 2024. In the quarter to June 2026, revenue grew 5.07%, EPS fell 130.7%, free cash flow grew 77.0% and total debt rose 50.4%, each against the same quarter a year earlier. Member of the S&P 500 and Dow Jones; dividend growth for twenty-five consecutive years, revenue growth for five.
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Merck & Co., Inc. (MRK) Free cash flow
Merck & Co., Inc.'s free cash flow for fiscal 2025 was $12.4B, down 31.7% from $18.1B in fiscal 2024. Over the twelve months to 30 June 2026 it was $16.1B. Over the past ten years it has ranged from $3.2B (fiscal 2020) to $18.1B (fiscal 2024); the current reading is higher than 82% of that period. Merck & Co., Inc. ranks 4th of 21 Drug Manufacturers General companies by free cash flow.
Free cash flow, annual
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Annual newest first
| Period | Free cash flow | Change |
|---|---|---|
| FY2025 | $12.4B | (31.70%) |
| FY2024 | $18.1B | 97.92% |
| FY2023 | $9.1B | (37.83%) |
| FY2022 | $14.7B | 69.55% |
| FY2021 | $8.7B | 172.08% |
| FY2020 | $3.2B | (42.19%) |
| FY2019 | $5.5B | (33.61%) |
| FY2018 | $8.3B | 82.05% |
| FY2017 | $4.6B | (47.92%) |
| FY2016 | $8.8B | (22.15%) |
Quarterly newest first
| Period | Free cash flow | Change |
|---|---|---|
| Jun 2026 | $4.5B | 52.96% |
| Mar 2026 | $2.9B | 60.47% |
| Dec 2025 | $1.8B | (73.31%) |
| Sep 2025 | $6.8B | 170.26% |
| 42 more quarters | Free account |
Against its own ten years
Free cash flow against peers
| Company | Free cash flow |
|---|---|
| JNJ Johnson & Johnson compare | $22.7B |
| ABBV AbbVie Inc. compare | $18.2B |
| MRK Merck & Co., Inc. | $16.1B |
| NVS Novartis AG compare | $15.2B |
| GILD Gilead Sciences, Inc. compare | $12.9B |
| PFE Pfizer Inc. compare | $11.0B |
| AMGN Amgen Inc. compare | $10.2B |
| NVO Novo Nordisk A/S compare | $7.6B |
| AZN AstraZeneca PLC compare | $6.3B |
What Free cash flow is
Free Cash Flow tells an investor how much cash a company’s operations generate after paying for its investment in physical and intangible assets.
Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)
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- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement