Latest period
$3.77B
YoY change
+21.9%
5Y CAGR
-1.5%
Peak year (2021)
$4.45B
Cumulative CapEx
$76.73B
CapEx history chart for Merck & Co. (MRK) from 1989 to 2025
Latest: $4.11B
CapEx growth chart for Merck & Co. (MRK) from 1989 to 2025
Latest: +21.9%
CapEx history table for Merck & Co. (MRK) from 1989 to 2025
| 2025 | $4.11B | +21.9% | +$740.00M | ||
| 2024 | $3.37B | -12.7% | −$491.00M | ||
| 2023 | $3.86B | -12.0% | −$525.00M | ||
| 2022 | $4.39B | -1.3% | −$60.00M | ||
| 2021 | $4.45B | +0.4% | +$19.00M | ||
| 2020 | $4.43B | +27.5% | +$956.00M | ||
| 2019 | $3.47B | +32.8% | +$858.00M | ||
| 2018 | $2.62B | +38.5% | +$727.00M | ||
| 2017 | $1.89B | +17.0% | +$274.00M | ||
| 2016 | $1.61B | +25.8% | +$331.00M | ||
| 2015 | $1.28B | -44.6% | −$1.03B | ||
| 2014 | $2.32B | +49.7% | +$769.00M | ||
| 2013 | $1.55B | -20.8% | −$406.00M | ||
| 2012 | $1.95B | +13.4% | +$231.00M | ||
| 2011 | $1.72B | +2.7% | +$45.00M | ||
| 2010 | $1.68B | +14.9% | +$217.40M | ||
| 2009 | $1.46B | +12.5% | +$162.30M | ||
| 2008 | $1.30B | +28.4% | +$287.30M | ||
| 2007 | $1.01B | +3.1% | +$30.80M | ||
| 2006 | $980.20M | -30.1% | −$422.50M | ||
| 2005 | $1.40B | -18.7% | −$323.40M | ||
| 2004 | $1.73B | -9.9% | −$189.80M | ||
| 2003 | $1.92B | -19.2% | −$453.80M | ||
| 2002 | $2.37B | -13.0% | −$355.00M | ||
| 2001 | $2.72B | -0.1% | −$3.10M | ||
| 2000 | $2.73B | +6.5% | +$167.30M | ||
| 1999 | $2.56B | +29.8% | +$587.10M | ||
| 1998 | $1.97B | +36.2% | +$524.60M | ||
| 1997 | $1.45B | +21.1% | +$252.10M | ||
| 1996 | $1.20B | +19.0% | +$191.20M | ||
| 1995 | $1.01B | -0.4% | −$3.80M | ||
| 1994 | $1.01B | -0.3% | −$3.40M | ||
| 1993 | $1.01B | -5.1% | −$53.90M | ||
| 1992 | $1.07B | +2.4% | +$25.10M | ||
| 1991 | $1.04B | +55.3% | +$370.70M | ||
| 1990 | $670.80M | +54.9% | +$237.80M | ||
| 1989 | $433.00M | — | — |
- 2025$4.11B+21.9%
- 2024$3.37B-12.7%
- 2023$3.86B-12.0%
- 2022$4.39B-1.3%
- 2021$4.45B+0.4%
- 2020$4.43B+27.5%
- 2019$3.47B+32.8%
- 2018$2.62B+38.5%
- 2017$1.89B+17.0%
- 2016$1.61B+25.8%
- 2015$1.28B-44.6%
- 2014$2.32B+49.7%
- 2013$1.55B-20.8%
- 2012$1.95B+13.4%
- 2011$1.72B+2.7%
- 2010$1.68B+14.9%
- 2009$1.46B+12.5%
- 2008$1.30B+28.4%
- 2007$1.01B+3.1%
- 2006$980.20M-30.1%
- 2005$1.40B-18.7%
- 2004$1.73B-9.9%
- 2003$1.92B-19.2%
- 2002$2.37B-13.0%
- 2001$2.72B-0.1%
- 2000$2.73B+6.5%
- 1999$2.56B+29.8%
- 1998$1.97B+36.2%
- 1997$1.45B+21.1%
- 1996$1.20B+19.0%
- 1995$1.01B-0.4%
- 1994$1.01B-0.3%
- 1993$1.01B-5.1%
- 1992$1.07B+2.4%
- 1991$1.04B+55.3%
- 1990$670.80M+54.9%
- 1989$433.00M—
CapEx values are taken from Merck & Co.'s reported cash flow statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About CapEx at Merck & Co. (MRK)
According to Merck & Co.'s latest reported financial statements, the company's current CapEx (TTM) is $3.77B. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
In 2025, Merck & Co. (MRK) CapEx totalled $4.11B – grew 21.9% year-over-year.
Merck & Co. CapEx has contracted on net over the period, with a -1.5% compound annual growth rate over 2020–2025 (5 years).
Merck & Co. CapEx declined from $4.45B in 2021 to $4.11B in 2025, a 7.6% drawdown.
Across the available history, CapEx reached its high of $4.45B in 2021 and its low of $433.00M in 1989.
Merck & Co. Capital Expenditures by Year
Merck & Co. Capital Expenditures 2025: $4.11B
Merck & Co. CapEx in 2025 was $4.11B, grew 21.9% from 2024.
Merck & Co. Capital Expenditures 2024: $3.37B
2024's CapEx for Merck & Co. came in at $3.37B, declined 12.7% below 2023.
Merck & Co. Capital Expenditures 2023: $3.86B
Merck & Co. posted CapEx of $3.86B in 2023, declined 12.0% below 2022.
Merck & Co. Capital Expenditures 2022: $4.39B
In 2022, Merck & Co. reported CapEx of $4.39B, edged down 1.3% below 2021.
Merck & Co. Capital Expenditures 2021: $4.45B
Merck & Co. CapEx in 2021 was $4.45B.
See more financial history for Merck & Co. (MRK).
Sector peers by CapEx
Healthcare peers of Merck & Co. (MRK), ranked by their latest CapEx
| $14.05B | |
| $7.84B | |
| $5.91B | |
| $4.83B | |
| $3.62B | |
| $1.86B | |
| $1.52B | |
| $1.21B |
- $14.05B
- $7.84B
- $5.91B
- $4.83B
- $3.62B
- $1.86B
- $1.21B
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