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Merck & Co., Inc.

EDGAR

MRK Current report (8-K) · filed 2026-10-29

Annual consolidated revenue for 2025: about USD 65.01B, using the latest reported figures. The previous period, 2024, was about USD 64.17B.

Inspect reported changes Compare with another company Historical disclosures Search filings Segments

Watchlist

Latest quarter

Revenue

16.6 billion USD

2026 Q2 · USD

Exact inputs and evidence

Revenue: 16607000000 USD Source

Net margin

-8.04%

2026 Q2 · %

Exact inputs and evidence

Net Income: -1335000000 USD Source
Revenue: 16607000000 USD Source

Operating cash flow

5.37 billion USD

2026 Q2 · USD

Exact inputs and evidence

Operating Cash Flow: 9288000000 USD Source
Operating Cash Flow: 3918000000 USD Source

Free cash flow

4.48 billion USD

2026 Q2 · USD

Exact inputs and evidence

Operating Cash Flow: 9288000000 USD Source
Operating Cash Flow: 3918000000 USD Source
Capital Expenditure: 1884000000 USD Source
Capital Expenditure: 991000000 USD Source

Cash and cash equivalents: 6.85 billion USD 2026-06-30 Source
Exact value

6849000000 USD
Long-term debt including current maturities: Not available
Shares outstanding: Not available

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

66.6 billion USD

2025-07-01 – 2026-06-30

Exact inputs and evidence

Revenue: 17276000000 USD · 2025-07-01 – 2025-09-30 Source
Revenue: 65011000000 USD · 2025-01-01 – 2025-12-31 Source
Revenue: 48611000000 USD · 2025-01-01 – 2025-09-30 Source
Revenue: 16286000000 USD · 2026-01-01 – 2026-03-31 Source
Revenue: 16607000000 USD · 2026-04-01 – 2026-06-30 Source

Net income

3.17 billion USD

2025-07-01 – 2026-06-30

Exact inputs and evidence

Net income: 5785000000 USD · 2025-07-01 – 2025-09-30 Source
Net income: 18254000000 USD · 2025-01-01 – 2025-12-31 Source
Net income: 15291000000 USD · 2025-01-01 – 2025-09-30 Source
Net income: -4240000000 USD · 2026-01-01 – 2026-03-31 Source
Net income: -1335000000 USD · 2026-04-01 – 2026-06-30 Source

Operating cash flow

20 billion USD

2025-07-01 – 2026-06-30

Exact inputs and evidence

Operating cash flow: 13615000000 USD · 2025-01-01 – 2025-09-30 Source
Operating cash flow: 5793000000 USD · 2025-01-01 – 2025-06-30 Source
Operating cash flow: 16472000000 USD · 2025-01-01 – 2025-12-31 Source
Operating cash flow: 13615000000 USD · 2025-01-01 – 2025-09-30 Source
Operating cash flow: 3918000000 USD · 2026-01-01 – 2026-03-31 Source
Operating cash flow: 9288000000 USD · 2026-01-01 – 2026-06-30 Source
Operating cash flow: 3918000000 USD · 2026-01-01 – 2026-03-31 Source

Capital expenditure

3.9 billion USD

2025-07-01 – 2026-06-30

Exact inputs and evidence

Capital expenditure: 3079000000 USD · 2025-01-01 – 2025-09-30 Source
Capital expenditure: 2092000000 USD · 2025-01-01 – 2025-06-30 Source
Capital expenditure: 4112000000 USD · 2025-01-01 – 2025-12-31 Source
Capital expenditure: 3079000000 USD · 2025-01-01 – 2025-09-30 Source
Capital expenditure: 991000000 USD · 2026-01-01 – 2026-03-31 Source
Capital expenditure: 1884000000 USD · 2026-01-01 – 2026-06-30 Source
Capital expenditure: 991000000 USD · 2026-01-01 – 2026-03-31 Source

Free cash flow

16.1 billion USD

2025-07-01 – 2026-06-30

Exact inputs and evidence

Operating cash flow: 13615000000 USD · 2025-01-01 – 2025-09-30 Source
Operating cash flow: 5793000000 USD · 2025-01-01 – 2025-06-30 Source
Operating cash flow: 16472000000 USD · 2025-01-01 – 2025-12-31 Source
Operating cash flow: 13615000000 USD · 2025-01-01 – 2025-09-30 Source
Operating cash flow: 3918000000 USD · 2026-01-01 – 2026-03-31 Source
Operating cash flow: 9288000000 USD · 2026-01-01 – 2026-06-30 Source
Operating cash flow: 3918000000 USD · 2026-01-01 – 2026-03-31 Source
Capital expenditure: 3079000000 USD · 2025-01-01 – 2025-09-30 Source
Capital expenditure: 2092000000 USD · 2025-01-01 – 2025-06-30 Source
Capital expenditure: 4112000000 USD · 2025-01-01 – 2025-12-31 Source
Capital expenditure: 3079000000 USD · 2025-01-01 – 2025-09-30 Source
Capital expenditure: 991000000 USD · 2026-01-01 – 2026-03-31 Source
Capital expenditure: 1884000000 USD · 2026-01-01 – 2026-06-30 Source
Capital expenditure: 991000000 USD · 2026-01-01 – 2026-03-31 Source

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-29.

Financial data available through: 2025-12-31.

Coverage by financial measure

Revenue: 10 of 11 periods available· newest 2025-12-31
operating income: No compatible figures in this window
Net income: 11 of 11 periods available· newest 2025-12-31
Operating cash flow: 11 of 11 periods available· newest 2025-12-31
Capital expenditure: 5 of 11 periods available· newest 2025-12-31
Total assets: 10 of 11 periods available· newest 2025-12-31
liabilities: No compatible figures in this window
Current assets: 10 of 11 periods available· newest 2025-12-31
Current liabilities: 10 of 11 periods available· newest 2025-12-31
Cash and cash equivalents: 10 of 11 periods available· newest 2025-12-31
long term debt: No compatible figures in this window
shares outstanding: No compatible figures in this window

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

Revenue
+1.3%

Prior period

USD 64.17 billion

2024-01-01 – 2024-12-31
Current period

USD 65.01 billion

2025-01-01 – 2025-12-31

Exact inputs and evidence

65011000000 − 64168000000 = 843000000 USD

64168000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source
65011000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current source

Share or cite

Citation for Year-over-year change in Revenue · Merck & Co., Inc. · 2025-12-31 Merck & Co., Inc. (edgar:310158) Year-over-year change in Revenue: 843000000 USD Concept: fundies:Revenue Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158?view=overview&cadence=annual&surface=latest#period-changes-title Computed: Current period minus corresponding prior-year period Input fundies:Revenue: 65011000000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#4933732 Filing: 000031015826000063 Input fundies:Revenue: 64168000000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#4934841 Filing: 000031015826000063
The citation records this snapshot. The page link may show a newer release later.
Net income
+6.6%

Prior period

USD 17.12 billion

2024-01-01 – 2024-12-31
Current period

USD 18.25 billion

2025-01-01 – 2025-12-31

Exact inputs and evidence

18254000000 − 17117000000 = 1137000000 USD

17117000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source
18254000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current source

Share or cite

Citation for Year-over-year change in Net income · Merck & Co., Inc. · 2025-12-31 Merck & Co., Inc. (edgar:310158) Year-over-year change in Net income: 1137000000 USD Concept: fundies:NetIncome Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158?view=overview&cadence=annual&surface=latest#period-changes-title Computed: Current period minus corresponding prior-year period Input fundies:NetIncome: 18254000000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2308639 Filing: 000031015826000063 Input fundies:NetIncome: 17117000000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2278049 Filing: 000031015826000063
The citation records this snapshot. The page link may show a newer release later.
Operating cash flow
-23.3%

Prior period

USD 21.47 billion

2024-01-01 – 2024-12-31
Current period

USD 16.47 billion

2025-01-01 – 2025-12-31

Exact inputs and evidence

16472000000 − 21468000000 = -4996000000 USD

21468000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source
16472000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current source

Share or cite

Citation for Year-over-year change in Operating cash flow · Merck & Co., Inc. · 2025-12-31 Merck & Co., Inc. (edgar:310158) Year-over-year change in Operating cash flow: -4996000000 USD Concept: fundies:OperatingCashFlow Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158?view=overview&cadence=annual&surface=latest#period-changes-title Computed: Current period minus corresponding prior-year period Input fundies:OperatingCashFlow: 16472000000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2379817 Filing: 000031015826000063 Input fundies:OperatingCashFlow: 21468000000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2380606 Filing: 000031015826000063
The citation records this snapshot. The page link may show a newer release later.
Capital expenditure
+21.9%

Prior period

USD 3.37 billion

2024-01-01 – 2024-12-31
Current period

USD 4.11 billion

2025-01-01 – 2025-12-31

Exact inputs and evidence

4112000000 − 3372000000 = 740000000 USD

3372000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source
4112000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current source

Share or cite

Citation for Year-over-year change in Capital expenditure · Merck & Co., Inc. · 2025-12-31 Merck & Co., Inc. (edgar:310158) Year-over-year change in Capital expenditure: 740000000 USD Concept: fundies:CapitalExpenditure Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158?view=overview&cadence=annual&surface=latest#period-changes-title Computed: Current period minus corresponding prior-year period Input fundies:CapitalExpenditure: 4112000000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2382854 Filing: 000031015826000063 Input fundies:CapitalExpenditure: 3372000000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2383438 Filing: 000031015826000063
The citation records this snapshot. The page link may show a newer release later.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

Revenue USD 65.01 billion 100% of revenue
Operating costs Derived Unavailable An input is unavailable.
Operating income Unavailable An input is unavailable.
Tax, interest and other Derived Unavailable An input is unavailable.
Net income USD 18.25 billion 28% of revenue

Cash

Operating cash flow USD 16.47 billion 25% of revenue
Capital expenditure USD 4.11 billion 6.3% of revenue
Free cash flow Derived USD 12.36 billion 19% of revenue

Share of revenue by period

Net income
Tax, interest and other
Operating costs

2016 Not shown: operating income or net income is not reported.
2017 Not shown: operating income or net income is not reported.
2018 Not shown: operating income or net income is not reported.
2019 Not shown: operating income or net income is not reported.
2020 Not shown: operating income or net income is not reported.
2021 Not shown: operating income or net income is not reported.
2022 Not shown: operating income or net income is not reported.
2023 Not shown: operating income or net income is not reported.
2024 Not shown: operating income or net income is not reported.
2025 Not shown: operating income or net income is not reported.

Values and sources

Revenue breakdown by annual reporting period
Period	Revenue	Operating costs	Operating income	Tax, interest and other	Net income	Free cash flow	Source
2016 2016-01-01 – 2016-12-31	39807000000	Unavailable	Unavailable	Unavailable	3920000000	Unavailable	Source 2016-01-01 – 2016-12-31: 39807000000 USD Inspect Revenue Open source 2016-01-01 – 2016-12-31: 3920000000 USD Inspect Net Income Open source 2016-01-01 – 2016-12-31: 10376000000 USD Inspect Operating Cash Flow Open source
2017 2017-01-01 – 2017-12-31	40122000000	Unavailable	Unavailable	Unavailable	2394000000	Unavailable	Source 2017-01-01 – 2017-12-31: 40122000000 USD Inspect Revenue Open source 2017-01-01 – 2017-12-31: 2394000000 USD Inspect Net Income Open source 2017-01-01 – 2017-12-31: 6451000000 USD Inspect Operating Cash Flow Open source
2018 2018-01-01 – 2018-12-31	42294000000	Unavailable	Unavailable	Unavailable	6220000000	Unavailable	Source 2018-01-01 – 2018-12-31: 42294000000 USD Inspect Revenue Open source 2018-01-01 – 2018-12-31: 6220000000 USD Inspect Net Income Open source 2018-01-01 – 2018-12-31: 10922000000 USD Inspect Operating Cash Flow Open source
2019 2019-01-01 – 2019-12-31	39121000000	Unavailable	Unavailable	Unavailable	9843000000	Unavailable	Source 2019-01-01 – 2019-12-31: 39121000000 USD Inspect Revenue Open source 2019-01-01 – 2019-12-31: 9843000000 USD Inspect Net Income Open source 2019-01-01 – 2019-12-31: 8884000000 USD Inspect Operating Cash Flow Open source
2020 2020-01-01 – 2020-12-31	41518000000	Unavailable	Unavailable	Unavailable	7067000000	Unavailable	Source 2020-01-01 – 2020-12-31: 41518000000 USD Inspect Revenue Open source 2020-01-01 – 2020-12-31: 7067000000 USD Inspect Net Income Open source 2020-01-01 – 2020-12-31: 7617000000 USD Inspect Operating Cash Flow Open source
2021 2021-01-01 – 2021-12-31	48704000000	Unavailable	Unavailable	Unavailable	13049000000	8674000000 Derived	Source 2021-01-01 – 2021-12-31: 48704000000 USD Inspect Revenue Open source 2021-01-01 – 2021-12-31: 13049000000 USD Inspect Net Income Open source 2021-01-01 – 2021-12-31: 13122000000 USD Inspect Operating Cash Flow Open source 2021-01-01 – 2021-12-31: 4448000000 USD Inspect Capital Expenditure Open source
2022 2022-01-01 – 2022-12-31	59283000000	Unavailable	Unavailable	Unavailable	14519000000	14707000000 Derived	Source 2022-01-01 – 2022-12-31: 59283000000 USD Inspect Revenue Open source 2022-01-01 – 2022-12-31: 14519000000 USD Inspect Net Income Open source 2022-01-01 – 2022-12-31: 19095000000 USD Inspect Operating Cash Flow Open source 2022-01-01 – 2022-12-31: 4388000000 USD Inspect Capital Expenditure Open source
2023 2023-01-01 – 2023-12-31	60115000000	Unavailable	Unavailable	Unavailable	365000000	9143000000 Derived	Source 2023-01-01 – 2023-12-31: 60115000000 USD Inspect Revenue Open source 2023-01-01 – 2023-12-31: 365000000 USD Inspect Net Income Open source 2023-01-01 – 2023-12-31: 13006000000 USD Inspect Operating Cash Flow Open source 2023-01-01 – 2023-12-31: 3863000000 USD Inspect Capital Expenditure Open source
2024 2024-01-01 – 2024-12-31	64168000000	Unavailable	Unavailable	Unavailable	17117000000	18096000000 Derived	Source 2024-01-01 – 2024-12-31: 64168000000 USD Inspect Revenue Open source 2024-01-01 – 2024-12-31: 17117000000 USD Inspect Net Income Open source 2024-01-01 – 2024-12-31: 21468000000 USD Inspect Operating Cash Flow Open source 2024-01-01 – 2024-12-31: 3372000000 USD Inspect Capital Expenditure Open source
2025 2025-01-01 – 2025-12-31	65011000000	Unavailable	Unavailable	Unavailable	18254000000	12360000000 Derived	Source 2025-01-01 – 2025-12-31: 65011000000 USD Inspect Revenue Open source 2025-01-01 – 2025-12-31: 18254000000 USD Inspect Net Income Open source 2025-01-01 – 2025-12-31: 16472000000 USD Inspect Operating Cash Flow Open source 2025-01-01 – 2025-12-31: 4112000000 USD Inspect Capital Expenditure Open source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 65B 2025

Values and sources

Revenue values and source evidence
Period	Series	Value(USD)	Source evidence
20162016-12-31	Revenue	39807000000	Revenue: 39807000000 Open source
20172017-12-31	Revenue	40122000000	Revenue: 40122000000 Open source
20182018-12-31	Revenue	42294000000	Revenue: 42294000000 Open source
20192019-12-31	Revenue	39121000000	Revenue: 39121000000 Open source
20202020-12-31	Revenue	41518000000	Revenue: 41518000000 Open source
20212021-12-31	Revenue	48704000000	Revenue: 48704000000 Open source
20222022-12-31	Revenue	59283000000	Revenue: 59283000000 Open source
20232023-12-31	Revenue	60115000000	Revenue: 60115000000 Open source
20242024-12-31	Revenue	64168000000	Revenue: 64168000000 Open source
20252025-12-31	Revenue	65011000000	Revenue: 65011000000 Open source

Revenue growth

Change in revenue from the same financial period one year earlier.

1.3% 2025

Values and sources

Revenue growth values and source evidence
Period	Series	Value	Source evidence
20162016-12-31	Year over year	No prior comparable period	Revenue: 39807000000 Open source
20172017-12-31	Year over year	0.8%	Revenue: 40122000000 Open source Revenue: 39807000000 Open source
20182018-12-31	Year over year	5.4%	Revenue: 42294000000 Open source Revenue: 40122000000 Open source
20192019-12-31	Year over year	-7.5%	Revenue: 39121000000 Open source Revenue: 42294000000 Open source
20202020-12-31	Year over year	6.1%	Revenue: 41518000000 Open source Revenue: 39121000000 Open source
20212021-12-31	Year over year	17.3%	Revenue: 48704000000 Open source Revenue: 41518000000 Open source
20222022-12-31	Year over year	21.7%	Revenue: 59283000000 Open source Revenue: 48704000000 Open source
20232023-12-31	Year over year	1.4%	Revenue: 60115000000 Open source Revenue: 59283000000 Open source
20242024-12-31	Year over year	6.7%	Revenue: 64168000000 Open source Revenue: 60115000000 Open source
20252025-12-31	Year over year	1.3%	Revenue: 65011000000 Open source Revenue: 64168000000 Open source

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Net margin 28.1% 2025

Free cash flow margin 19% 2025

Operating margin
Net margin
Free cash flow margin

Values and sources

Profit margins values and source evidence
Period	Series	Value	Source evidence
2016-12-31	Operating margin	Not reported	Revenue: 39807000000 Open source
2017-12-31	Operating margin	Not reported	Revenue: 40122000000 Open source
2018-12-31	Operating margin	Not reported	Revenue: 42294000000 Open source
2019-12-31	Operating margin	Not reported	Revenue: 39121000000 Open source
2020-12-31	Operating margin	Not reported	Revenue: 41518000000 Open source
2021-12-31	Operating margin	Not reported	Revenue: 48704000000 Open source
2022-12-31	Operating margin	Not reported	Revenue: 59283000000 Open source
2023-12-31	Operating margin	Not reported	Revenue: 60115000000 Open source
2024-12-31	Operating margin	Not reported	Revenue: 64168000000 Open source
2025-12-31	Operating margin	Not reported	Revenue: 65011000000 Open source
20162016-12-31	Net margin	9.8%	Net Income: 3920000000 Open source Revenue: 39807000000 Open source
20172017-12-31	Net margin	6%	Net Income: 2394000000 Open source Revenue: 40122000000 Open source
20182018-12-31	Net margin	14.7%	Net Income: 6220000000 Open source Revenue: 42294000000 Open source
20192019-12-31	Net margin	25.2%	Net Income: 9843000000 Open source Revenue: 39121000000 Open source
20202020-12-31	Net margin	17%	Net Income: 7067000000 Open source Revenue: 41518000000 Open source
20212021-12-31	Net margin	26.8%	Net Income: 13049000000 Open source Revenue: 48704000000 Open source
20222022-12-31	Net margin	24.5%	Net Income: 14519000000 Open source Revenue: 59283000000 Open source
20232023-12-31	Net margin	0.6%	Net Income: 365000000 Open source Revenue: 60115000000 Open source
20242024-12-31	Net margin	26.7%	Net Income: 17117000000 Open source Revenue: 64168000000 Open source
20252025-12-31	Net margin	28.1%	Net Income: 18254000000 Open source Revenue: 65011000000 Open source
20162016-12-31	Free cash flow margin	Not reported	Revenue: 39807000000 Open source Operating Cash Flow: 10376000000 Open source
20172017-12-31	Free cash flow margin	Not reported	Revenue: 40122000000 Open source Operating Cash Flow: 6451000000 Open source
20182018-12-31	Free cash flow margin	Not reported	Revenue: 42294000000 Open source Operating Cash Flow: 10922000000 Open source
20192019-12-31	Free cash flow margin	Not reported	Revenue: 39121000000 Open source Operating Cash Flow: 8884000000 Open source
20202020-12-31	Free cash flow margin	Not reported	Revenue: 41518000000 Open source Operating Cash Flow: 7617000000 Open source
20212021-12-31	Free cash flow margin	17.8%	Revenue: 48704000000 Open source Operating Cash Flow: 13122000000 Open source Capital Expenditure: 4448000000 Open source
20222022-12-31	Free cash flow margin	24.8%	Revenue: 59283000000 Open source Operating Cash Flow: 19095000000 Open source Capital Expenditure: 4388000000 Open source
20232023-12-31	Free cash flow margin	15.2%	Revenue: 60115000000 Open source Operating Cash Flow: 13006000000 Open source Capital Expenditure: 3863000000 Open source
20242024-12-31	Free cash flow margin	28.2%	Revenue: 64168000000 Open source Operating Cash Flow: 21468000000 Open source Capital Expenditure: 3372000000 Open source
20252025-12-31	Free cash flow margin	19%	Revenue: 65011000000 Open source Operating Cash Flow: 16472000000 Open source Capital Expenditure: 4112000000 Open source

Operating cash flow

Cash generated by the company’s normal business operations.

USD 16.5B 2025

Values and sources

Operating cash flow values and source evidence
Period	Series	Value(USD)	Source evidence
20162016-12-31	Operating cash flow	10376000000	Operating Cash Flow: 10376000000 Open source
20172017-12-31	Operating cash flow	6451000000	Operating Cash Flow: 6451000000 Open source
20182018-12-31	Operating cash flow	10922000000	Operating Cash Flow: 10922000000 Open source
20192019-12-31	Operating cash flow	8884000000	Operating Cash Flow: 8884000000 Open source
20202020-12-31	Operating cash flow	7617000000	Operating Cash Flow: 7617000000 Open source
20212021-12-31	Operating cash flow	13122000000	Operating Cash Flow: 13122000000 Open source
20222022-12-31	Operating cash flow	19095000000	Operating Cash Flow: 19095000000 Open source
20232023-12-31	Operating cash flow	13006000000	Operating Cash Flow: 13006000000 Open source
20242024-12-31	Operating cash flow	21468000000	Operating Cash Flow: 21468000000 Open source
20252025-12-31	Operating cash flow	16472000000	Operating Cash Flow: 16472000000 Open source

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 12.4B 2025

Values and sources

Free cash flow values and source evidence
Period	Series	Value(USD)	Source evidence
20162016-12-31	Free cash flow	Unavailable	Operating Cash Flow: 10376000000 Open source
20172017-12-31	Free cash flow	Unavailable	Operating Cash Flow: 6451000000 Open source
20182018-12-31	Free cash flow	Unavailable	Operating Cash Flow: 10922000000 Open source
20192019-12-31	Free cash flow	Unavailable	Operating Cash Flow: 8884000000 Open source
20202020-12-31	Free cash flow	Unavailable	Operating Cash Flow: 7617000000 Open source
20212021-12-31	Free cash flow	8674000000	Operating Cash Flow: 13122000000 Open source Capital Expenditure: 4448000000 Open source
20222022-12-31	Free cash flow	14707000000	Operating Cash Flow: 19095000000 Open source Capital Expenditure: 4388000000 Open source
20232023-12-31	Free cash flow	9143000000	Operating Cash Flow: 13006000000 Open source Capital Expenditure: 3863000000 Open source
20242024-12-31	Free cash flow	18096000000	Operating Cash Flow: 21468000000 Open source Capital Expenditure: 3372000000 Open source
20252025-12-31	Free cash flow	12360000000	Operating Cash Flow: 16472000000 Open source Capital Expenditure: 4112000000 Open source

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

Not enough comparable data to show this history.

Values and sources

Liabilities to assets values and source evidence
Period	Series	Value	Source evidence
2016-12-31	Liabilities / assets	Not reported	Total Assets: 95377000000 Open source
2017-12-31	Liabilities / assets	Not reported	Total Assets: 87872000000 Open source
2018-12-31	Liabilities / assets	Not reported	Total Assets: 82637000000 Open source
2019-12-31	Liabilities / assets	Not reported	Total Assets: 84397000000 Open source
2020-12-31	Liabilities / assets	Not reported	Total Assets: 91588000000 Open source
2021-12-31	Liabilities / assets	Not reported	Total Assets: 105694000000 Open source
2022-12-31	Liabilities / assets	Not reported	Total Assets: 109160000000 Open source
2023-12-31	Liabilities / assets	Not reported	Total Assets: 106675000000 Open source
2024-12-31	Liabilities / assets	Not reported	Total Assets: 117106000000 Open source
2025-12-31	Liabilities / assets	Not reported	Total Assets: 136866000000 Open source

Current assets to current liabilities

Current assets divided by current liabilities.

1.54× 2025

Values and sources

Current assets to current liabilities values and source evidence
Period	Series	Value	Source evidence
20162016-12-31	Current assets / current liabilities	1.78×	Current Assets: 30614000000 Open source Current Liabilities: 17204000000 Open source
20172017-12-31	Current assets / current liabilities	1.33×	Current Assets: 24766000000 Open source Current Liabilities: 18614000000 Open source
20182018-12-31	Current assets / current liabilities	1.17×	Current Assets: 25875000000 Open source Current Liabilities: 22206000000 Open source
20192019-12-31	Current assets / current liabilities	1.24×	Current Assets: 27483000000 Open source Current Liabilities: 22220000000 Open source
20202020-12-31	Current assets / current liabilities	1.02×	Current Assets: 27764000000 Open source Current Liabilities: 27327000000 Open source
20212021-12-31	Current assets / current liabilities	1.27×	Current Assets: 30266000000 Open source Current Liabilities: 23872000000 Open source
20222022-12-31	Current assets / current liabilities	1.47×	Current Assets: 35722000000 Open source Current Liabilities: 24239000000 Open source
20232023-12-31	Current assets / current liabilities	1.25×	Current Assets: 32168000000 Open source Current Liabilities: 25694000000 Open source
20242024-12-31	Current assets / current liabilities	1.36×	Current Assets: 38782000000 Open source Current Liabilities: 28420000000 Open source
20252025-12-31	Current assets / current liabilities	1.54×	Current Assets: 43516000000 Open source Current Liabilities: 28327000000 Open source

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
Period	Net income	Operating cash flow	Capital expenditure	Free cash flow
2016 2016-01-01 – 2016-12-31	USD 3.92 billion Exact value Exact value: 3920000000 USD 2016-01-01 – 2016-12-31: 3920000000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Merck & Co., Inc. · 2016-12-31 Merck & Co., Inc. (edgar:310158) Net Income: 3920000000 USD Concept: fundies:NetIncome Period: 2016-01-01 to 2016-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3ANetIncome&period=2016-12-31&surface=latest&period_type=duration&start=2016-01-01&unit=USD&dimensions= Input fundies:NetIncome: 3920000000 USD (2016-01-01 to 2016-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015819000014/mrk-20181231.xml#1775380 Filing: 000031015819000014 The citation records this snapshot. The page link may show a newer release later.	USD 10.38 billion Exact value Exact value: 10376000000 USD 2016-01-01 – 2016-12-31: 10376000000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Merck & Co., Inc. · 2016-12-31 Merck & Co., Inc. (edgar:310158) Operating Cash Flow: 10376000000 USD Concept: fundies:OperatingCashFlow Period: 2016-01-01 to 2016-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3AOperatingCashFlow&period=2016-12-31&surface=latest&period_type=duration&start=2016-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 10376000000 USD (2016-01-01 to 2016-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015819000014/mrk-20181231.xml#1774739 Filing: 000031015819000014 The citation records this snapshot. The page link may show a newer release later.	Unavailable Not reported for this period.	Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.
2017 2017-01-01 – 2017-12-31	USD 2.39 billion Exact value Exact value: 2394000000 USD 2017-01-01 – 2017-12-31: 2394000000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Merck & Co., Inc. · 2017-12-31 Merck & Co., Inc. (edgar:310158) Net Income: 2394000000 USD Concept: fundies:NetIncome Period: 2017-01-01 to 2017-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3ANetIncome&period=2017-12-31&surface=latest&period_type=duration&start=2017-01-01&unit=USD&dimensions= Input fundies:NetIncome: 2394000000 USD (2017-01-01 to 2017-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015820000005/mrk1231201910k.htm#5948434 Filing: 000031015820000005 The citation records this snapshot. The page link may show a newer release later.	USD 6.45 billion Exact value Exact value: 6451000000 USD 2017-01-01 – 2017-12-31: 6451000000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Merck & Co., Inc. · 2017-12-31 Merck & Co., Inc. (edgar:310158) Operating Cash Flow: 6451000000 USD Concept: fundies:OperatingCashFlow Period: 2017-01-01 to 2017-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3AOperatingCashFlow&period=2017-12-31&surface=latest&period_type=duration&start=2017-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 6451000000 USD (2017-01-01 to 2017-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015820000005/mrk1231201910k.htm#2890761 Filing: 000031015820000005 The citation records this snapshot. The page link may show a newer release later.	Unavailable Not reported for this period.	Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.
2018 2018-01-01 – 2018-12-31	USD 6.22 billion Exact value Exact value: 6220000000 USD 2018-01-01 – 2018-12-31: 6220000000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Merck & Co., Inc. · 2018-12-31 Merck & Co., Inc. (edgar:310158) Net Income: 6220000000 USD Concept: fundies:NetIncome Period: 2018-01-01 to 2018-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3ANetIncome&period=2018-12-31&surface=latest&period_type=duration&start=2018-01-01&unit=USD&dimensions= Input fundies:NetIncome: 6220000000 USD (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015821000004/mrk-20201231.htm#5661568 Filing: 000031015821000004 The citation records this snapshot. The page link may show a newer release later.	USD 10.92 billion Exact value Exact value: 10922000000 USD 2018-01-01 – 2018-12-31: 10922000000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Merck & Co., Inc. · 2018-12-31 Merck & Co., Inc. (edgar:310158) Operating Cash Flow: 10922000000 USD Concept: fundies:OperatingCashFlow Period: 2018-01-01 to 2018-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3AOperatingCashFlow&period=2018-12-31&surface=latest&period_type=duration&start=2018-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 10922000000 USD (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015821000004/mrk-20201231.htm#2647358 Filing: 000031015821000004 The citation records this snapshot. The page link may show a newer release later.	Unavailable Not reported for this period.	Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.
2019 2019-01-01 – 2019-12-31	USD 9.84 billion Exact value Exact value: 9843000000 USD 2019-01-01 – 2019-12-31: 9843000000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Merck & Co., Inc. · 2019-12-31 Merck & Co., Inc. (edgar:310158) Net Income: 9843000000 USD Concept: fundies:NetIncome Period: 2019-01-01 to 2019-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3ANetIncome&period=2019-12-31&surface=latest&period_type=duration&start=2019-01-01&unit=USD&dimensions= Input fundies:NetIncome: 9843000000 USD (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015822000003/mrk-20211231.htm#2383344 Filing: 000031015822000003 The citation records this snapshot. The page link may show a newer release later.	USD 8.88 billion Exact value Exact value: 8884000000 USD 2019-01-01 – 2019-12-31: 8884000000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Merck & Co., Inc. · 2019-12-31 Merck & Co., Inc. (edgar:310158) Operating Cash Flow: 8884000000 USD Concept: fundies:OperatingCashFlow Period: 2019-01-01 to 2019-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3AOperatingCashFlow&period=2019-12-31&surface=latest&period_type=duration&start=2019-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 8884000000 USD (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015822000003/mrk-20211231.htm#2580061 Filing: 000031015822000003 The citation records this snapshot. The page link may show a newer release later.	Unavailable Not reported for this period.	Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.
2020 2020-01-01 – 2020-12-31	USD 7.07 billion Exact value Exact value: 7067000000 USD 2020-01-01 – 2020-12-31: 7067000000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Merck & Co., Inc. · 2020-12-31 Merck & Co., Inc. (edgar:310158) Net Income: 7067000000 USD Concept: fundies:NetIncome Period: 2020-01-01 to 2020-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3ANetIncome&period=2020-12-31&surface=latest&period_type=duration&start=2020-01-01&unit=USD&dimensions= Input fundies:NetIncome: 7067000000 USD (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000162828023005061/mrk-20221231.htm#2378299 Filing: 000162828023005061 The citation records this snapshot. The page link may show a newer release later.	USD 7.62 billion Exact value Exact value: 7617000000 USD 2020-01-01 – 2020-12-31: 7617000000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Merck & Co., Inc. · 2020-12-31 Merck & Co., Inc. (edgar:310158) Operating Cash Flow: 7617000000 USD Concept: fundies:OperatingCashFlow Period: 2020-01-01 to 2020-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3AOperatingCashFlow&period=2020-12-31&surface=latest&period_type=duration&start=2020-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 7617000000 USD (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000162828023005061/mrk-20221231.htm#2562851 Filing: 000162828023005061 The citation records this snapshot. The page link may show a newer release later.	Unavailable Not reported for this period.	Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.
2021 2021-01-01 – 2021-12-31	USD 13.05 billion Exact value Exact value: 13049000000 USD 2021-01-01 – 2021-12-31: 13049000000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Merck & Co., Inc. · 2021-12-31 Merck & Co., Inc. (edgar:310158) Net Income: 13049000000 USD Concept: fundies:NetIncome Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3ANetIncome&period=2021-12-31&surface=latest&period_type=duration&start=2021-01-01&unit=USD&dimensions= Input fundies:NetIncome: 13049000000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000162828024006850/mrk-20231231.htm#2171857 Filing: 000162828024006850 The citation records this snapshot. The page link may show a newer release later.	USD 13.12 billion Exact value Exact value: 13122000000 USD 2021-01-01 – 2021-12-31: 13122000000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Merck & Co., Inc. · 2021-12-31 Merck & Co., Inc. (edgar:310158) Operating Cash Flow: 13122000000 USD Concept: fundies:OperatingCashFlow Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3AOperatingCashFlow&period=2021-12-31&surface=latest&period_type=duration&start=2021-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 13122000000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000162828024006850/mrk-20231231.htm#2310183 Filing: 000162828024006850 The citation records this snapshot. The page link may show a newer release later.	USD 4.45 billion Exact value Exact value: 4448000000 USD 2021-01-01 – 2021-12-31: 4448000000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Merck & Co., Inc. · 2021-12-31 Merck & Co., Inc. (edgar:310158) Capital Expenditure: 4448000000 USD Concept: fundies:CapitalExpenditure Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3ACapitalExpenditure&period=2021-12-31&surface=latest&period_type=duration&start=2021-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 4448000000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000162828024006850/mrk-20231231.htm#2312965 Filing: 000162828024006850 The citation records this snapshot. The page link may show a newer release later.	USD 8.67 billion Calculation and evidence 13122000000 − 4448000000 USD Exact free cash flow: 8674000000 USD 2021-01-01 – 2021-12-31: 13122000000 USD · Inspect Operating Cash Flow · Source 2021-01-01 – 2021-12-31: 4448000000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Merck & Co., Inc. · 2021-12-31 Merck & Co., Inc. (edgar:310158) Free cash flow: 8674000000 USD Concept: free-cash-flow Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 13122000000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000162828024006850/mrk-20231231.htm#2310183 Filing: 000162828024006850 Input fundies:CapitalExpenditure: 4448000000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000162828024006850/mrk-20231231.htm#2312965 Filing: 000162828024006850 The citation records this snapshot. The page link may show a newer release later.
2022 2022-01-01 – 2022-12-31	USD 14.52 billion Exact value Exact value: 14519000000 USD 2022-01-01 – 2022-12-31: 14519000000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Merck & Co., Inc. · 2022-12-31 Merck & Co., Inc. (edgar:310158) Net Income: 14519000000 USD Concept: fundies:NetIncome Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3ANetIncome&period=2022-12-31&surface=latest&period_type=duration&start=2022-01-01&unit=USD&dimensions= Input fundies:NetIncome: 14519000000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000162828025007732/mrk-20241231.htm#2166130 Filing: 000162828025007732 The citation records this snapshot. The page link may show a newer release later.	USD 19.1 billion Exact value Exact value: 19095000000 USD 2022-01-01 – 2022-12-31: 19095000000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Merck & Co., Inc. · 2022-12-31 Merck & Co., Inc. (edgar:310158) Operating Cash Flow: 19095000000 USD Concept: fundies:OperatingCashFlow Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3AOperatingCashFlow&period=2022-12-31&surface=latest&period_type=duration&start=2022-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 19095000000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000162828025007732/mrk-20241231.htm#2296240 Filing: 000162828025007732 The citation records this snapshot. The page link may show a newer release later.	USD 4.39 billion Exact value Exact value: 4388000000 USD 2022-01-01 – 2022-12-31: 4388000000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Merck & Co., Inc. · 2022-12-31 Merck & Co., Inc. (edgar:310158) Capital Expenditure: 4388000000 USD Concept: fundies:CapitalExpenditure Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3ACapitalExpenditure&period=2022-12-31&surface=latest&period_type=duration&start=2022-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 4388000000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000162828025007732/mrk-20241231.htm#2298980 Filing: 000162828025007732 The citation records this snapshot. The page link may show a newer release later.	USD 14.71 billion Calculation and evidence 19095000000 − 4388000000 USD Exact free cash flow: 14707000000 USD 2022-01-01 – 2022-12-31: 19095000000 USD · Inspect Operating Cash Flow · Source 2022-01-01 – 2022-12-31: 4388000000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Merck & Co., Inc. · 2022-12-31 Merck & Co., Inc. (edgar:310158) Free cash flow: 14707000000 USD Concept: free-cash-flow Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 19095000000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000162828025007732/mrk-20241231.htm#2296240 Filing: 000162828025007732 Input fundies:CapitalExpenditure: 4388000000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000162828025007732/mrk-20241231.htm#2298980 Filing: 000162828025007732 The citation records this snapshot. The page link may show a newer release later.
2023 2023-01-01 – 2023-12-31	USD 365 million Exact value Exact value: 365000000 USD 2023-01-01 – 2023-12-31: 365000000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Merck & Co., Inc. · 2023-12-31 Merck & Co., Inc. (edgar:310158) Net Income: 365000000 USD Concept: fundies:NetIncome Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3ANetIncome&period=2023-12-31&surface=latest&period_type=duration&start=2023-01-01&unit=USD&dimensions= Input fundies:NetIncome: 365000000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2248332 Filing: 000031015826000063 The citation records this snapshot. The page link may show a newer release later.	USD 13.01 billion Exact value Exact value: 13006000000 USD 2023-01-01 – 2023-12-31: 13006000000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Merck & Co., Inc. · 2023-12-31 Merck & Co., Inc. (edgar:310158) Operating Cash Flow: 13006000000 USD Concept: fundies:OperatingCashFlow Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3AOperatingCashFlow&period=2023-12-31&surface=latest&period_type=duration&start=2023-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 13006000000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2381283 Filing: 000031015826000063 The citation records this snapshot. The page link may show a newer release later.	USD 3.86 billion Exact value Exact value: 3863000000 USD 2023-01-01 – 2023-12-31: 3863000000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Merck & Co., Inc. · 2023-12-31 Merck & Co., Inc. (edgar:310158) Capital Expenditure: 3863000000 USD Concept: fundies:CapitalExpenditure Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3ACapitalExpenditure&period=2023-12-31&surface=latest&period_type=duration&start=2023-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 3863000000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2384023 Filing: 000031015826000063 The citation records this snapshot. The page link may show a newer release later.	USD 9.14 billion Calculation and evidence 13006000000 − 3863000000 USD Exact free cash flow: 9143000000 USD 2023-01-01 – 2023-12-31: 13006000000 USD · Inspect Operating Cash Flow · Source 2023-01-01 – 2023-12-31: 3863000000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Merck & Co., Inc. · 2023-12-31 Merck & Co., Inc. (edgar:310158) Free cash flow: 9143000000 USD Concept: free-cash-flow Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 13006000000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2381283 Filing: 000031015826000063 Input fundies:CapitalExpenditure: 3863000000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2384023 Filing: 000031015826000063 The citation records this snapshot. The page link may show a newer release later.
2024 2024-01-01 – 2024-12-31	USD 17.12 billion Exact value Exact value: 17117000000 USD 2024-01-01 – 2024-12-31: 17117000000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Merck & Co., Inc. · 2024-12-31 Merck & Co., Inc. (edgar:310158) Net Income: 17117000000 USD Concept: fundies:NetIncome Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3ANetIncome&period=2024-12-31&surface=latest&period_type=duration&start=2024-01-01&unit=USD&dimensions= Input fundies:NetIncome: 17117000000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2278049 Filing: 000031015826000063 The citation records this snapshot. The page link may show a newer release later.	USD 21.47 billion Exact value Exact value: 21468000000 USD 2024-01-01 – 2024-12-31: 21468000000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Merck & Co., Inc. · 2024-12-31 Merck & Co., Inc. (edgar:310158) Operating Cash Flow: 21468000000 USD Concept: fundies:OperatingCashFlow Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3AOperatingCashFlow&period=2024-12-31&surface=latest&period_type=duration&start=2024-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 21468000000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2380606 Filing: 000031015826000063 The citation records this snapshot. The page link may show a newer release later.	USD 3.37 billion Exact value Exact value: 3372000000 USD 2024-01-01 – 2024-12-31: 3372000000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Merck & Co., Inc. · 2024-12-31 Merck & Co., Inc. (edgar:310158) Capital Expenditure: 3372000000 USD Concept: fundies:CapitalExpenditure Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3ACapitalExpenditure&period=2024-12-31&surface=latest&period_type=duration&start=2024-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 3372000000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2383438 Filing: 000031015826000063 The citation records this snapshot. The page link may show a newer release later.	USD 18.1 billion Calculation and evidence 21468000000 − 3372000000 USD Exact free cash flow: 18096000000 USD 2024-01-01 – 2024-12-31: 21468000000 USD · Inspect Operating Cash Flow · Source 2024-01-01 – 2024-12-31: 3372000000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Merck & Co., Inc. · 2024-12-31 Merck & Co., Inc. (edgar:310158) Free cash flow: 18096000000 USD Concept: free-cash-flow Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 21468000000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2380606 Filing: 000031015826000063 Input fundies:CapitalExpenditure: 3372000000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2383438 Filing: 000031015826000063 The citation records this snapshot. The page link may show a newer release later.
2025 2025-01-01 – 2025-12-31	USD 18.25 billion Exact value Exact value: 18254000000 USD 2025-01-01 – 2025-12-31: 18254000000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Merck & Co., Inc. · 2025-12-31 Merck & Co., Inc. (edgar:310158) Net Income: 18254000000 USD Concept: fundies:NetIncome Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3ANetIncome&period=2025-12-31&surface=latest&period_type=duration&start=2025-01-01&unit=USD&dimensions= Input fundies:NetIncome: 18254000000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2308639 Filing: 000031015826000063 The citation records this snapshot. The page link may show a newer release later.	USD 16.47 billion Exact value Exact value: 16472000000 USD 2025-01-01 – 2025-12-31: 16472000000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Merck & Co., Inc. · 2025-12-31 Merck & Co., Inc. (edgar:310158) Operating Cash Flow: 16472000000 USD Concept: fundies:OperatingCashFlow Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3AOperatingCashFlow&period=2025-12-31&surface=latest&period_type=duration&start=2025-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 16472000000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2379817 Filing: 000031015826000063 The citation records this snapshot. The page link may show a newer release later.	USD 4.11 billion Exact value Exact value: 4112000000 USD 2025-01-01 – 2025-12-31: 4112000000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Merck & Co., Inc. · 2025-12-31 Merck & Co., Inc. (edgar:310158) Capital Expenditure: 4112000000 USD Concept: fundies:CapitalExpenditure Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158/explain?concept=fundies%3ACapitalExpenditure&period=2025-12-31&surface=latest&period_type=duration&start=2025-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 4112000000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2382854 Filing: 000031015826000063 The citation records this snapshot. The page link may show a newer release later.	USD 12.36 billion Calculation and evidence 16472000000 − 4112000000 USD Exact free cash flow: 12360000000 USD 2025-01-01 – 2025-12-31: 16472000000 USD · Inspect Operating Cash Flow · Source 2025-01-01 – 2025-12-31: 4112000000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Merck & Co., Inc. · 2025-12-31 Merck & Co., Inc. (edgar:310158) Free cash flow: 12360000000 USD Concept: free-cash-flow Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T12:28:22Z Snapshot: 47f56b532b1929389077957535cd904c2912dab58e7917ded01c96f6b54a4e71 Dimensions: Consolidated View: https://fundies.io/companies/edgar/310158?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 16472000000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2379817 Filing: 000031015826000063 Input fundies:CapitalExpenditure: 4112000000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm#2382854 Filing: 000031015826000063 The citation records this snapshot. The page link may show a newer release later.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

152 filings · 43,475 latest values · 43,471 originally reported values

Dataset published 2026-11-02. Source filing dates and reporting periods are shown separately.

Identifiers: 0000310158, 310158, MRK, edgar:310158

Also known as Merck & Co. Inc., Merck & Co., Inc., Merck & Co., Inc., Merck & Co., Inc., SCHERING PLOUGH CORP

Merck & Co., Inc.

Latest quarter

Revenue

Net margin

Operating cash flow

Free cash flow

Trailing twelve months

Revenue

Net income

Operating cash flow

Capital expenditure

Free cash flow

Company performance

What changed year over year

Revenue

Net income

Operating cash flow

Capital expenditure

Where revenue goes

2025 2025-01-01 – 2025-12-31

Cash

Share of revenue by period

Growth

Profit and cash

Balance sheet

Cash generation