Merck
$144.30Change from previous close: +0.34%Absolute change: +$0.49
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 USD; per-share values in USD; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 16,472 | 21,468 | 13,006 | 19,095 | 14,109 | 10,241 | 13,440 | 10,922 | 6,451 | 10,376 |
| Depreciation and amortization | 4,638 | 4,245 | 3,732 | 3,789 | 3,123 | 3,218 | 3,077 | 4,520 | 4,616 | 5,244 |
| Capital expenditure | -4,112 | -3,372 | -3,863 | -4,388 | -4,448 | -4,429 | -3,369 | -2,615 | -1,888 | -1,614 |
| Investing cash flow | -13,741 | -7,734 | -14,083 | -4,960 | -16,555 | -9,443 | -2,629 | 4,314 | 2,679 | -3,210 |
| Financing cash flow | -1,922 | -7,032 | -4,810 | -9,119 | 2,593 | -2,832 | -8,861 | -13,160 | -10,006 | -9,044 |
| Dividends paid | -8,176 | -7,840 | -7,445 | -7,012 | -6,610 | -6,215 | -5,695 | -5,172 | -5,167 | -5,124 |
| Share repurchases | -5,084 | -1,306 | -1,346 | 0.0 | -840 | -1,281 | -4,780 | -9,091 | -4,014 | -3,434 |
| Debt issued | 13,880 | 3,599 | 5,939 | 0.0 | 7,936 | 6,968 | 4,958 | 5,124 | — | 1,079 |
| Debt repaid | -2,503 | -1,290 | -1,755 | -2,251 | -6,305 | -1,957 | -3,710 | -4,287 | -1,129 | -2,386 |
| Effect of exchange rates | 563 | -293 | 23.0 | -410 | -133 | 253 | 17.0 | -205 | 457 | -131 |
| Net change in cash | 1,372 | 6,409 | -5,864 | 4,606 | 14.0 | -1,781 | 1,967 | 1,871 | -419 | -2,009 |
| Free cash flow | 12,360 | 18,096 | 9,143 | 14,707 | 9,661 | — | — | — | — | — |
| Levered free cash flow | 11,887 | 17,829 | 9,262 | 12,643 | 5,427 | 4,760 | 7,640 | 8,685 | 6,492 | 9,861 |