Latest period
$14.1B
YoY change
-31.7%
5Y CAGR
+16.2%
Peak year (FY2024)
$18.1B
Latest annual
$12.4B
Free Cash Flow history chart for Merck & Co. (MRK) from 2016 to 2025
Latest: $12.4B
Free Cash Flow growth chart for Merck & Co. (MRK) from 2016 to 2025
Latest: -31.7%
Free Cash Flow history table for Merck & Co. (MRK) from 1989 to 2025
| FY2025 | $12.4B | -31.7% | -$5.74B | ||
| FY2024 | $18.1B | +97.9% | +$8.95B | ||
| FY2023 | $9.14B | -37.8% | -$5.56B | ||
| FY2022 | $14.7B | +52.2% | +$5.05B | ||
| FY2021 | $9.66B | +65.9% | +$3.84B | ||
| FY2020 | $5.82B | -41.6% | -$4.14B | ||
| FY2019 | $9.97B | +20.0% | +$1.66B | ||
| FY2018 | $8.31B | +82.1% | +$3.74B | ||
| FY2017 | $4.56B | -47.9% | -$4.2B | ||
| FY2016 | $8.76B | -22.2% | -$2.49B | ||
| FY2015 | $11.3B | +72.0% | +$4.71B | ||
| FY2014 | $6.54B | -35.3% | -$3.56B | ||
| FY2013 | $10.1B | +25.3% | +$2.04B | ||
| FY2012 | $8.07B | -24.3% | -$2.59B | ||
| FY2011 | $10.7B | +8.9% | +$869M | ||
| FY2010 | $9.79B | +406.9% | +$7.86B | ||
| FY2009 | $1.93B | -73.1% | -$5.24B | ||
| FY2008 | $7.17B | +19.8% | +$1.18B | ||
| FY2007 | $5.99B | +3.5% | +$203M | ||
| FY2006 | $5.79B | -6.8% | -$421M | ||
| FY2005 | $6.21B | -12.3% | -$867M | ||
| FY2004 | $7.07B | -11.0% | -$874M | ||
| FY2003 | $7.95B | +11.0% | +$788M | ||
| FY2002 | $7.16B | +12.6% | +$804M | ||
| FY2001 | $6.36B | +28.1% | +$1.4B | ||
| FY2000 | $4.96B | +38.9% | +$1.39B | ||
| FY1999 | $3.57B | +6.4% | +$215M | ||
| FY1998 | $3.35B | -31.1% | -$1.51B | ||
| FY1997 | $4.87B | +15.1% | +$637M | ||
| FY1996 | $4.23B | +118.2% | +$2.29B | ||
| FY1995 | $1.94B | -38.1% | -$1.19B | ||
| FY1994 | $3.13B | +53.8% | +$1.09B | ||
| FY1993 | $2.04B | +41.6% | +$598M | ||
| FY1992 | $1.44B | +3.3% | +$45.3M | ||
| FY1991 | $1.39B | +0.6% | +$7.7M | ||
| FY1990 | $1.38B | +46.1% | +$437M | ||
| FY1989 | $948M | — | — |
- FY2025$12.4B-31.7%
- FY2024$18.1B+97.9%
- FY2023$9.14B-37.8%
- FY2022$14.7B+52.2%
- FY2021$9.66B+65.9%
- FY2020$5.82B-41.6%
- FY2019$9.97B+20.0%
- FY2018$8.31B+82.1%
- FY2017$4.56B-47.9%
- FY2016$8.76B-22.2%
- FY2015$11.3B+72.0%
- FY2014$6.54B-35.3%
- FY2013$10.1B+25.3%
- FY2012$8.07B-24.3%
- FY2011$10.7B+8.9%
- FY2010$9.79B+406.9%
- FY2009$1.93B-73.1%
- FY2008$7.17B+19.8%
- FY2007$5.99B+3.5%
- FY2006$5.79B-6.8%
- FY2005$6.21B-12.3%
- FY2004$7.07B-11.0%
- FY2003$7.95B+11.0%
- FY2002$7.16B+12.6%
- FY2001$6.36B+28.1%
- FY2000$4.96B+38.9%
- FY1999$3.57B+6.4%
- FY1998$3.35B-31.1%
- FY1997$4.87B+15.1%
- FY1996$4.23B+118.2%
- FY1995$1.94B-38.1%
- FY1994$3.13B+53.8%
- FY1993$2.04B+41.6%
- FY1992$1.44B+3.3%
- FY1991$1.39B+0.6%
- FY1990$1.38B+46.1%
- FY1989$948M—
Free Cash Flow 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 Free Cash Flow at Merck & Co. (MRK)
Free Cash Flow for Merck & Co. (MRK): headline value $14.1B · 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 .
In 2025, Merck & Co. (MRK) free cash flow totalled $12.4B – plunged 31.7% year-over-year.
Across 2020–2025 (5 years), Merck & Co. free cash flow produced a CAGR of +16.2% – with mixed annual results across the window.
Between 2024 and 2025, Merck & Co. free cash flow plunged 31.7%, falling from $18.1B to $12.4B.
The highest annual free cash flow of $18.1B was reported in 2024. The lowest in the available history was $948M in 1989.
Merck & Co. Free Cash Flow by Year
Merck & Co. Free Cash Flow 2025: $12.4B
Merck & Co. posted free cash flow of $12.4B in 2025, plunged 31.7% below 2024.
Merck & Co. Free Cash Flow 2024: $18.1B
In 2024, Merck & Co. reported free cash flow of $18.1B, 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: $14.7B
2022's free cash flow for Merck & Co. came in at $14.7B, 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 by Free Cash Flow
Healthcare peers of Merck & Co. (MRK), ranked by their latest free cash flow
| $19.7B | |
| $17.8B | |
| $16.1B | |
| $8.97B | |
| $8.1B | |
| $7.4B | |
| $6.29B | |
| $4.52B |
- $19.7B
- $17.8B
- $16.1B
- $8.97B
- $8.1B
- $4.52B
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Merck & Co. (MRK) Key Financials
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- Buybacks2.00% TTM
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- Stock Split History7 splits
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