The cash flow of Merck & Co., Inc. over the past 10 years
Chart Merck & Co., Inc.: operating cash flow, capital expenditures, free cash flow, fiscal 2016–2025 Open the chart →In fiscal 2025, the latest fiscal year on file, Merck & Co., Inc.'s operating cash flow was $16.47B and its capital expenditures $4.11B, leaving free cash flow of $12.36B. Free cash flow was above zero in all 10 years shown. It ranged from $3.19B in fiscal 2020 to $18.1B in fiscal 2024. Capital expenditures were highest in fiscal 2021, at $4.45B.
Year by year
| Fiscal year | Operating cash flow | Capital expenditures | Free cash flow* |
|---|---|---|---|
| 2025ended Dec 31, 2025 | $16.47B | $4.11B | $12.36B |
| 2024ended Dec 31, 2024 | $21.47B | $3.37B | $18.1B |
| 2023ended Dec 31, 2023 | $13.01B | $3.86B | $9.14B |
| 2022ended Dec 31, 2022 | $19.09B | $4.39B | $14.71B |
| 2021ended Dec 31, 2021 | $13.12B | $4.45B | $8.67B |
| 2020ended Dec 31, 2020 | $7.62B | $4.43B | $3.19B |
| 2019ended Dec 31, 2019 | $8.88B | $3.37B | $5.51B |
| 2018ended Dec 31, 2018 | $10.92B | $2.62B | $8.31B |
| 2017ended Dec 31, 2017 | $6.45B | $1.89B | $4.56B |
| 2016ended Dec 31, 2016 | $10.38B | $1.61B | $8.76B |
Fiscal years as Merck & Co., Inc. reports them. * Calculated by us from the company's filed figures; — no figure on file. From SEC filings, updated nightly. How each line is read.
More on Merck & Co., Inc.
- The revenue of Merck & Co., Inc.
- The profitability of Merck & Co., Inc.
- The debt of Merck & Co., Inc.
- The dividends of Merck & Co., Inc.
- All of Merck & Co., Inc.'s financials, charted
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Not investment advice. This page shows what Merck & Co., Inc. filed with the SEC. Nothing here is a recommendation about any security. Check important figures against the company's own filings.