MRK
Merck & Co., Inc.
Stock
$148.69−0.09 (−0.06%)Close Sep 28, 2026
Cash flow statement
| Line | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $20.0B | $16.5B | $21.5B | $13.0B | $19.1B | — | $10.3B | $13.4B | $10.9B | $6.5B | $10.4B | $12.5B | $8.0B | $11.7B | $10.0B | $12.4B | $10.8B | $3.4B | $6.6B | $7.0B |
| Capital expenditures | $3.9B | $4.1B | $3.4B | $3.9B | $4.4B | $4.4B | $4.4B | $3.4B | $2.6B | $1.9B | $1.6B | $1.3B | $1.3B | $1.5B | $2.0B | $1.7B | $1.7B | $1.5B | $1.3B | $1.0B |
| Free cash flow | $16.1B | $12.4B | $18.1B | $9.1B | $14.7B | — | $5.8B | $10.1B | $8.3B | $4.6B | $8.8B | $11.3B | $6.7B | $10.1B | $8.1B | $10.7B | $9.1B | $1.9B | $5.3B | $6.0B |
| Stock-based compensation | $892M | $820M | $761M | $645M | $541M | $479M | $441M | $388M | $348M | $312M | $300M | $299M | $278M | $276M | $335M | $369M | $509M | $415M | $348M | $330M |
| Buybacks | $4.2B | $5.1B | $1.3B | $1.3B | $0 | $840M | $1.3B | $4.8B | $9.1B | $4.0B | $3.4B | $4.2B | $7.7B | $6.5B | $2.6B | $1.9B | $1.6B | $0 | $2.7B | $1.4B |
| Dividends paid | $8.3B | $8.2B | $7.8B | $7.4B | $7.0B | $6.6B | $6.2B | $5.7B | $5.2B | $5.2B | $5.1B | $5.1B | $5.2B | $5.2B | $5.1B | $4.7B | $4.7B | $3.2B | $3.3B | $3.3B |
| Dividends per share | $3.36 | $3.28 | $3.12 | $2.96 | $2.80 | $2.64 | $2.48 | $2.26 | $1.99 | $1.89 | $1.85 | $1.81 | $1.77 | $1.73 | $1.69 | $1.56 | $1.52 | $1.52 | $1.52 | $1.52 |
| Free cash flow margin | 24.1% | 19.0% | 28.2% | 15.2% | 24.8% | — | 14.0% | 25.7% | 19.6% | 11.4% | 22.0% | — | — | — | — | — | 19.9% | 7.0% | 22.1% | 24.7% |