Free Cash Flow for Merck & Co. (MRK)
Free Cash Flow for Merck & Co. (MRK): headline value $12.36B · YoY -31.7%. Annual and quarterly series, chart, and tables are below.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
MRK
Currently viewingFree Cash FlowSwitch metric
Latest period
$12.36B
YoY change
-31.7%
5Y CAGR
+16.2%
Peak year (2024)
$18.10B
Latest annual
$12.36B
Free Cash Flow history chart for Merck & Co. (MRK) from 1989 to 2025
Free Cash Flow history table for Merck & Co. (MRK) from 1989 to 2025
| Fiscal year | Period ended | Reported | Free Cash Flow | YoY |
|---|---|---|---|---|
| 2025 | $12.36B | -31.7% | ||
| 2024 | $18.10B | +97.9% | ||
| 2023 | $9.14B | -37.8% | ||
| 2022 | $14.71B | +52.2% | ||
| 2021 | $9.66B | +65.9% | ||
| 2020 | $5.82B | -41.6% | ||
| 2019 | $9.97B | +20.0% | ||
| 2018 | $8.31B | +82.1% | ||
| 2017 | $4.56B | -47.9% | ||
| 2016 | $8.76B | -22.2% | ||
| 2015 | $11.26B | +72.0% | ||
| 2014 | $6.54B | -35.3% | ||
| 2013 | $10.11B | +25.3% | ||
| 2012 | $8.07B | -24.3% | ||
| 2011 | $10.66B | +8.9% | ||
| 2010 | $9.79B | +406.9% | ||
| 2009 | $1.93B | -73.1% | ||
| 2008 | $7.17B | +19.8% | ||
| 2007 | $5.99B | +3.5% | ||
| 2006 | $5.79B | -6.8% | ||
| 2005 | $6.21B | -12.3% | ||
| 2004 | $7.07B | -11.0% | ||
| 2003 | $7.95B | +11.0% | ||
| 2002 | $7.16B | +12.6% | ||
| 2001 | $6.36B | +28.1% | ||
| 2000 | $4.96B | +38.9% | ||
| 1999 | $3.57B | +6.4% | ||
| 1998 | $3.35B | -31.1% | ||
| 1997 | $4.87B | +15.1% | ||
| 1996 | $4.23B | +118.2% | ||
| 1995 | $1.94B | -38.1% | ||
| 1994 | $3.13B | +53.8% | ||
| 1993 | $2.04B | +41.6% | ||
| 1992 | $1.44B | +3.3% | ||
| 1991 | $1.39B | +0.6% | ||
| 1990 | $1.38B | +46.1% | ||
| 1989 | $947.70M | — |
Free Cash Flow values are taken from Merck & Co.'s reported cash flow statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
In 2025, Merck & Co. (MRK) free cash flow totalled $12.36B – plunged 31.7% year-over-year.
Across 2020–2025 (5 years), Merck & Co. free cash flow produced a CAGR of +16.2% – with the latest reading among the more recent periods of the dataset.
Between 2024 and 2025, Merck & Co. free cash flow plunged 31.7%, falling from $18.10B to $12.36B.
The highest annual free cash flow of $18.10B was reported in 2024. The lowest in the available history was $947.70M in 1989.
Merck & Co. (MRK) sits 5th of 8 Healthcare peers we track on this metric, against a peer median of $13.92B.
Merck & Co. Free Cash Flow by Year
Merck & Co. Free Cash Flow 2025: $12.36B
Merck & Co. free cash flow in 2025 was $12.36B, plunged 31.7% below 2024.
Merck & Co. Free Cash Flow 2024: $18.10B
Merck & Co. free cash flow in 2024 was $18.10B, surged 97.9% from 2023. This figure represents the highest annual value in the available history.
Merck & Co. Free Cash Flow 2023: $9.14B
Merck & Co. free cash flow in 2023 was $9.14B, plunged 37.8% below 2022.
Merck & Co. Free Cash Flow 2022: $14.71B
Merck & Co. free cash flow in 2022 was $14.71B, surged 52.2% from 2021.
Merck & Co. Free Cash Flow 2021: $9.66B
Merck & Co. free cash flow in 2021 was $9.66B.
See more financial history for Merck & Co. (MRK).
Sector peers — Free Cash Flow
Companies in the same sector as Merck & Co., ranked by their latest free cash flow.
| Company | Free Cash Flow | Sector |
|---|---|---|
| Novo Nordisk A/S (NVO) | $28.99B | Healthcare |
| Johnson & Johnson (JNJ) | $19.70B | Healthcare |
| AbbVie Inc. (ABBV) | $17.82B | Healthcare |
| UnitedHealth Group Incorporated (UNH) | $16.07B | Healthcare |
| AstraZeneca PLC (AZN) | $11.77B | Healthcare |
| Eli Lilly and Company (LLY) | $8.97B | Healthcare |
| Amgen Inc. (AMGN) | $8.10B | Healthcare |
| Thermo Fisher Scientific Inc. (TMO) | $6.29B | Healthcare |
Frequently asked questions
What is Merck & Co.'s free cash flow?
Latest reported free cash flow for Merck & Co. (MRK) is $12.36B (period ending December 31, 2025).
How has Merck & Co. free cash flow changed year-over-year?
Merck & Co. (MRK) free cash flow changed -31.7% year-over-year on the latest annual filing.
What is the long-term growth rate of Merck & Co. free cash flow?
Merck & Co. (MRK) free cash flow compound annual growth rate is +16.2% over the most recent 5 years available.
When did Merck & Co. free cash flow hit its highest annual value?
Merck & Co. free cash flow reached its highest annual value of $18.10B in 2024.
What was Merck & Co. free cash flow in 2024?
Merck & Co. (MRK) free cash flow in 2024 was $18.10B.
What was Merck & Co. free cash flow in 2025?
Merck & Co. (MRK) free cash flow in 2025 was $12.36B.
Metrics overview
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