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 | 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 | 5,370 | 3,918 | 2,857 | 7,822 | 3,293 | 2,500 | 3,450 | 9,291 | 5,637 | 3,090 | 246 | 7,717 |
| Depreciation and amortization | 1,468 | 1,404 | 1,418 | 1,098 | 1,064 | 1,058 | 1,114 | 1,146 | 1,066 | 919 | 903 | 978 |
| Capital expenditure | -893 | -991 | -1,033 | -987 | -764 | -1,328 | -937 | -783 | -791 | -861 | -989 | -902 |
| Investing cash flow | -5,602 | -10,210 | -11,201 | -283 | -770 | -1,487 | -1,444 | -3,845 | -1,069 | -1,376 | 53.0 | -334 |
| Financing cash flow | 1,762 | -2,981 | 4,751 | 2,638 | -3,556 | -5,755 | -3,009 | -2,425 | 1,216 | -2,814 | -2,245 | -4,269 |
| Dividends paid | -2,144 | -2,105 | -2,018 | -2,031 | -2,077 | -2,050 | -1,951 | -1,953 | -1,986 | -1,950 | -1,852 | -1,855 |
| Share repurchases | -757 | -874 | -1,252 | -1,323 | -1,345 | -1,164 | -489 | -444 | -251 | -122 | -393 | -466 |
| Debt issued | 10,895 | 1,061 | 7,855 | 5,977 | — | — | 0.0 | -1.0 | 3,600 | — | — | -1,944 |
| Debt repaid | -6,005 | -1,140 | -2.0 | -1.0 | 0.0 | -2,500 | -539 | 0.0 | 0.0 | -751 | -3.0 | -1.0 |
| Effect of exchange rates | -37.0 | -19.0 | 23.0 | 10.0 | 374 | 156 | -367 | 294 | -82.0 | -138 | 186 | -157 |
| Net change in cash | 1,493 | -9,292 | -3,570 | 10,187 | -659 | -4,586 | -1,370 | 3,315 | 5,702 | -1,238 | -1,760 | 2,957 |
| Free cash flow | 4,477 | 2,927 | 1,824 | 6,835 | 2,529 | 1,172 | 2,513 | 8,508 | 4,846 | 2,229 | -743 | 6,815 |
| Levered free cash flow | 402 | 2,923 | 2,306 | 6,032 | 2,432 | 761 | 4,947 | 7,415 | 4,013 | 1,466 | -586 | 5,750 |