Merck & Co., Inc. MRK
- Market cap
- $365.4B
- P/E
- 119×
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Merck & Co., Inc. (MRK) Price to free cash flow
As of 25 September 2026, Merck & Co., Inc. (MRK) trades at a price to free cash flow of 22.9×. Over the past ten years it has ranged from 10.9× (May 2025) to 487× (December 2020); the current reading is higher than 47% of that period. That is above the Drug Manufacturers General industry median of 17.7× and above the Healthcare sector median of 19.5×.
Price to free cash flow, daily
Annual
| Period | Price to free cash flow | Change |
|---|---|---|
| FY2025 | 21.3× | 53.08% |
| FY2024 | 13.9× | (55.70%) |
| FY2023 | 31.4× | 64.22% |
| FY2022 | 19.1× | (14.40%) |
| FY2021 | 22.4× | (63.91%) |
| FY2020 | 61.9× | 53.47% |
| FY2019 | 40.4× | 72.62% |
| FY2018 | 23.4× | (27.16%) |
| FY2017 | 32.1× | 77.14% |
| FY2016 | 18.1× | 43.70% |
Quarterly
| Period | Price to free cash flow | Change |
|---|---|---|
| Jun 2026 | 19.8× | (6.21%) |
| Mar 2026 | 21.1× | (1.13%) |
| Dec 2025 | 21.3× | 32.78% |
| Sep 2025 | 16.0× | 18.90% |
| 42 more quarters | Free account |
Against its own ten years
Price to free cash flow against peers
| Company | Price to free cash flow |
|---|---|
| GILD Gilead Sciences, Inc. compare | 14.5× |
| PFE Pfizer Inc. compare | 16.0× |
| NVS Novartis AG compare | 18.3× |
| NVO Novo Nordisk A/S compare | 22.6× |
| MRK Merck & Co., Inc. | 22.9× |
| AMGN Amgen Inc. compare | 23.0× |
| ABBV AbbVie Inc. compare | 25.7× |
| JNJ Johnson & Johnson compare | 28.7× |
| AZN AstraZeneca PLC compare | 41.2× |
| Drug Manufacturers General industry median | 17.7× |
| Healthcare sector median | 19.5× |
| Market median | 14.0× |
What Price to free cash flow is
Price to Free Cash Flow Ratio shows how much investors pay for each dollar of cash a company generates after its capital spending.
Stock Price ÷ ((Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM)) ÷ (Shares (Basic, Weighted) (latest quarter)))
More on MRK
- Revenue
- Net income
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- EV/EBITDA
- EV/Sales
- 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
- The full statement