Buyback yield (TTM)
2.00%
Shareholder yield (TTM)
4.77%
5Y share count change
-1.3%
Buyback spend (TTM)
$5.96B
Cumulative buybacks
$93.81B
Key takeaways
- Merck & Co. (MRK) repurchased about $5.96B of stock over the trailing twelve months.
- Diluted share count is down 1.3% over the last ~5 fiscal years — buybacks are net-shrinking the share base.
- TTM buyback ÷ stock-based-comp ratio of 9.85× — repurchases more than cover SBC dilution.
- Cash buyback spend has compounded at +31.7% per year over the latest 5-year window.
- TTM repurchases used about 101% of free cash flow remaining after dividends.
Dividend & buyback yield over time for Merck & Co. (MRK)
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Diluted vs basic shares (annual) for Merck & Co. (MRK)
Diluted weighted-average shares are the EPS denominator — a falling count means buybacks are outpacing SBC dilution.
Year-over-year change in diluted shares for Merck & Co. (MRK)
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Cash buyback spend over time for Merck & Co. (MRK)
Latest: $5.08B
Overview
As of the 2025 fiscal year, Merck & Co. (MRK) reported buyback spend of $5.08B – surged 289.3% year-over-year.
Over 2020–2025 (5 years), Merck & Co. buyback spend expanded at a +31.7% compound annual rate, with mixed annual results across the window.
Merck & Co. buyback spend peaked at $9.09B in 2018; the latest annual figure is $5.08B in 2025 (44.1% below peak).
2018 marks the peak buyback spend at $9.09B, with the historical low of $0.00 recorded in 2009.
Merck & Co. Buyback Spend 2025: $5.08B
In 2025, Merck & Co. reported buyback spend of $5.08B, surged 289.3% from 2024.
Merck & Co. Buyback Spend 2024: $1.31B
Merck & Co. buyback spend in 2024 was $1.31B, edged down 3.0% below 2023.
Merck & Co. Buyback Spend 2023: $1.35B
Merck & Co. buyback spend in 2023 was $1.35B.
Merck & Co. Buyback Spend 2022: $0.00
Merck & Co. posted buyback spend of $0.00 in 2022, plunged 100.0% below 2021.
Merck & Co. Buyback Spend 2021: $840.00M
Merck & Co. buyback spend in 2021 was $840.00M.
See more financial history for Merck & Co. (MRK).
Buyback, SBC & dilution history
Buyback spend, SBC, net dilution effect, and share count.
| 2025 | $5.08B | $0.00 | $5.08B | 1.95% | 2.51B | -1.3% | |
| 2024 | $1.31B | $761.00M | $545.00M | 0.52% | 2.54B | -0.2% | |
| 2023 | $1.35B | $645.00M | $701.00M | 0.48% | 2.55B | +0.2% | |
| 2022 | $0.00 | $541.00M | −$541.00M | — | 2.54B | +0.2% | |
| 2021 | $840.00M | $479.00M | $361.00M | 0.43% | 2.54B | -0.1% | |
| 2020 | $1.28B | $441.00M | $840.00M | 0.65% | 2.54B | -1.5% | |
| 2019 | $4.78B | $417.00M | $4.36B | 2.17% | 2.58B | -3.7% | |
| 2018 | $9.09B | $348.00M | $8.74B | 4.81% | 2.68B | -2.5% | |
| 2017 | $4.01B | $312.00M | $3.70B | 2.77% | 2.75B | -1.4% | |
| 2016 | $3.43B | $300.00M | $3.13B | 2.23% | 2.79B | -1.9% | |
| 2015 | $4.19B | $299.00M | $3.89B | 2.99% | 2.84B | -3.0% | |
| 2014 | $7.70B | $278.00M | $7.42B | 5.01% | 2.93B | -2.3% | |
| 2013 | $6.52B | $276.00M | $6.24B | 4.66% | 3.00B | -2.6% | |
| 2012 | $2.59B | $335.00M | $2.26B | 2.19% | 3.08B | -0.6% | |
| 2011 | $1.92B | $369.00M | $1.55B | 1.76% | 3.09B | -0.8% | |
| 2010 | $1.59B | $509.00M | $1.08B | 1.50% | 3.12B | +37.3% | |
| 2009 | $0.00 | $415.50M | −$415.50M | — | 2.27B | +6.1% | |
| 2008 | $2.73B | $219.00M | $2.51B | 4.45% | 2.14B | -2.3% | |
| 2007 | $1.43B | $211.00M | $1.22B | 1.19% | 2.19B | +0.2% | |
| 2006 | $1.00B | $168.00M | $834.30M | 1.11% | 2.19B | -0.6% | |
| 2005 | $1.02B | $0.00 | $1.02B | 1.53% | 2.20B | -1.2% | |
| 2004 | $2.47B | $0.00 | $2.47B | 3.65% | 2.23B | -1.2% | |
| 2003 | $2.03B | $0.00 | $2.03B | 2.08% | 2.25B | -1.0% | |
| 2002 | $2.09B | $0.00 | $2.09B | 1.72% | 2.28B | -2.0% | |
| 2001 | $3.89B | $0.00 | $3.89B | 3.06% | 2.32B | -1.3% | |
| 2000 | $3.55B | $0.00 | $3.55B | — | 2.35B | -2.1% | |
| 1999 | $3.58B | $0.00 | $3.58B | — | 2.40B | -1.5% | |
| 1998 | $3.63B | $0.00 | $3.63B | — | 2.44B | -1.1% | |
| 1997 | $3.57B | $0.00 | $3.57B | — | 2.47B | -0.8% | |
| 1996 | $2.49B | $0.00 | $2.49B | — | 2.49B | — | |
| 1995 | $1.57B | $0.00 | $1.57B | — | — | — | |
| 1994 | $704.50M | $0.00 | $704.50M | — | — | — | |
| 1993 | $371.00M | $0.00 | $371.00M | — | — | — | |
| 1992 | $862.90M | $0.00 | $862.90M | — | — | — | |
| 1991 | $184.10M | $0.00 | $184.10M | — | — | — | |
| 1990 | $744.80M | $0.00 | $744.80M | — | — | — | |
| 1989 | $208.20M | $0.00 | $208.20M | — | — | — |
- 2025$5.08B
- 2024$1.31B
- 2023$1.35B
- 2022$0.00
- 2021$840.00M
- 2020$1.28B
- 2019$4.78B
- 2018$9.09B
- 2017$4.01B
- 2016$3.43B
- 2015$4.19B
- 2014$7.70B
- 2013$6.52B
- 2012$2.59B
- 2011$1.92B
- 2010$1.59B
- 2009$0.00
- 2008$2.73B
- 2007$1.43B
- 2006$1.00B
- 2005$1.02B
- 2004$2.47B
- 2003$2.03B
- 2002$2.09B
- 2001$3.89B
- 2000$3.55B
- 1999$3.58B
- 1998$3.63B
- 1997$3.57B
- 1996$2.49B
- 1995$1.57B
- 1994$704.50M
- 1993$371.00M
- 1992$862.90M
- 1991$184.10M
- 1990$744.80M
- 1989$208.20M
Buybacks vs stock-based compensation for Merck & Co. (MRK)
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 9.85×.
Buybacks vs dividends (share of cash returned) for Merck & Co. (MRK)
How Merck & Co. splits cash returned to shareholders between dividends and buybacks.
Sector peers by buyback spend
Companies in the same sector as Merck & Co., ranked by their latest buyback spend.
| $5.95B | |
| $5.54B | |
| $4.11B | |
| $3.00B | |
| $980.00M | |
| $216.35M | |
| $0.00 | |
| $0.00 |
- $5.95B
- $5.54B
- $4.11B
- $980.00M
- $216.35M
- $0.00
- $0.00
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $5.88B (TTM FCF − TTM dividends, clamped at zero).
Frequently asked questions
Data & methodology
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