Merck
€136.90Change from previous close: +1.82%Absolute change: +€2.45
At a glance
- Revenue growth
- +1.31%
- 2025 vs 2024
- Net income growth
- +6.64%
- 2025 vs 2024
- Net margin
- 28.1%
- 2024: 26.7%
Financial data
Amounts in millions of EUR; per-share values in EUR; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 605 | 818 | 1,291 | 1,518 | 567 | 556 | 1,231 | 1,458 | 861 | 1,035 | 1,053 | 1,255 |
| Depreciation and amortization | 497 | 485 | 382 | 458 | 434 | 454 | 113 | 449 | 447 | 454 | 361 | 435 |
| Capital expenditure | -257 | -453 | -420 | -378 | -300 | -487 | -408 | -456 | -316 | -523 | -511 | -428 |
| Investing cash flow | -608 | -755 | -583 | -3,116 | -143 | -419 | -633 | -1,698 | -30.0 | -689 | -451 | -350 |
| Financing cash flow | -787 | -61.8 | -210 | 2,704 | -257 | -1,609 | -1,246 | 727 | -360 | -107 | -974 | -302 |
| Dividends paid | -1,024 | -13.6 | -2,018 | -2,031 | -993 | -46.0 | -1,951 | -1,953 | -978 | -52.0 | — | — |
| Share repurchases | -757 | -874 | -1,252 | -1,323 | -1,345 | -1,164 | -489 | -444 | -251 | -122 | — | — |
| Debt issued | 800 | 1,061 | 7,810 | 2,756 | 855 | 0.0 | 1,359 | 728 | 738 | — | 519 | — |
| Debt repaid | -558 | -57.6 | -8,020 | -51.0 | -110 | -1,563 | -2,606 | 0.0 | -110 | -55.0 | -1,593 | -202 |
| Effect of exchange rates | 2.0 | 2.5 | -10.0 | -21.0 | -6.0 | -39.8 | 3.0 | -12.0 | -5.0 | -2.0 | -12.0 | 2.0 |
| Net change in cash | -788 | 3.5 | 489 | 1,085 | 161 | -1,512 | -644 | 476 | 465 | 238 | -383 | 604 |
| Free cash flow | 348 | 365 | 871 | 1,140 | 267 | 69.2 | 823 | 1,002 | 545 | 512 | 542 | 827 |
| Levered free cash flow | -778 | 323 | 1,395 | 1,735 | -341 | -127 | 1,334 | 640 | -148 | -323 | 2,144 | 763 |