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FCF Margin for Merck & Co. (MRK)

As of · Reported

Metric

TTM

21.5%

YoY change

−9.16pp

Trough year (2009)

7.0%

Peak year (2003)

35.3%

FCF Margin history chart for Merck & Co. (MRK) from 1989 to 2025

Latest: 19.0%

FCF Margin change chart for Merck & Co. (MRK) from 1989 to 2025

Latest: −9.16pp

FCF Margin history table for Merck & Co. (MRK) from 1989 to 2025

  • 202519.0%-9.16pp
  • 202428.2%+12.99pp
  • 202315.2%-9.60pp
  • 202224.8%+4.97pp
  • 202119.8%+5.81pp
  • 202014.0%-11.45pp
  • 201925.5%+5.84pp
  • 201819.6%+8.27pp
  • 201711.4%-10.64pp
  • 201622.0%-6.48pp
  • 201528.5%+13.00pp
  • 201415.5%-7.46pp
  • 201323.0%+5.88pp
  • 201217.1%-5.12pp
  • 201122.2%+0.90pp
  • 201021.3%+14.25pp
  • 20097.0%-23.03pp
  • 200830.1%+5.33pp
  • 200724.7%-0.81pp
  • 200625.6%-2.64pp
  • 200528.2%-2.60pp
  • 200430.8%-4.55pp
  • 200335.3%+1.96pp
  • 200233.4%+3.40pp
  • 200130.0%+17.69pp
  • 200012.3%+1.37pp
  • 199910.9%-1.56pp
  • 199812.5%-8.12pp
  • 199720.6%-0.74pp
  • 199621.3%+9.72pp
  • 199511.6%-9.29pp
  • 199420.9%+1.52pp
  • 199319.4%+4.51pp
  • 199214.9%-1.31pp
  • 199116.2%-1.86pp
  • 199018.1%+3.58pp
  • 198914.5%—

FCF Margin values are taken from Merck & Co.'s reported income 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 FCF Margin at Merck & Co. (MRK)

According to Merck & Co.'s latest reported financial statements, the company's latest reported free cash flow margin is 21.5%. Free cash flow margin is free cash flow divided by revenue — the share of each sales dollar that converts into cash after capital expenditures. Because free cash flow cannot be inflated by non-cash accounting, FCF margin is a clean read on how efficiently a business turns revenue into deployable cash.

Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .

As of the 2025 fiscal year, Merck & Co. (MRK) reported free cash flow margin of 19.04% – contracted 9.2 percentage points year-over-year.

2003 marks the peak free cash flow margin at 35.34%, with the historical low of 7.04% recorded in 2009.

Merck & Co. FCF Margin by Year

Merck & Co. FCF Margin 2025: 19.0%

In 2025, Merck & Co. reported free cash flow margin of 19.04%, contracted 9.2 percentage points from 2024.

Merck & Co. FCF Margin 2024: 28.2%

Merck & Co. free cash flow margin in 2024 was 28.20%, expanded 13.0 percentage points from 2023.

Merck & Co. FCF Margin 2023: 15.2%

2023's free cash flow margin for Merck & Co. came in at 15.21%, contracted 9.6 percentage points from 2022.

Merck & Co. FCF Margin 2022: 24.8%

Merck & Co. posted free cash flow margin of 24.81% in 2022, expanded 5.0 percentage points from 2021.

Merck & Co. FCF Margin 2021: 19.8%

Merck & Co. free cash flow margin in 2021 was 19.84%.

See more financial history for Merck & Co. (MRK).

Sector peers by FCF Margin

Healthcare peers of Merck & Co. (MRK), ranked by their latest free cash flow margin

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