Merck Quarterly Cash Flow Statement
NYSE: MRKHealth CareBiotechnology: Pharmaceutical PreparationsUSD
At close: Oct 9, 4:02 PM ET · Delayed 15 min
Pre-market: 145.60 +0.02%
Merck free cash flow
In the quarter ended Jun 30, 2026, Merck generated $5.37 billion of operating cash flow and spent $893.0 million on capital expenditures. That left free cash flow of $4.48 billion, a free-cash-flow margin of 27.0% of revenue. Free cash flow was up 77.0% from the prior year's $2.53 billion.
Merck returned $2.90 billion to shareholders: $2.14 billion in dividends and $757.0 million in share repurchases, equal to 65% of free cash flow. Free cash flow covered dividend payments 2.1 times.
Summary generated from market data by MetaCap's automated system. Methodology
Merck cash flow statement (quarterly)
| Quarter (USD) | Q2 20262026-06-30 | Q1 20262026-03-31 | Q4 20252025-12-31 | Q3 20252025-09-30 | Q2 20252025-06-30 | Q1 20252025-03-31 | Q4 20242024-12-31 | Q3 20242024-09-30 | Q2 20242024-06-30 | Q1 20242024-03-31 | Q4 20232023-12-31 | Q3 20232023-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | -1.34B | -4.24B | 2.96B | 5.79B | 4.43B | 5.08B | 3.74B | 3.16B | 5.46B | 4.77B | -1.23B | 4.75B |
| Net Income growth (YoY) | -130.19% | -183.44% | -20.89% | +83.07% | -18.92% | +6.67% | — | -33.45% | — | +68.74% | -140.62% | +46.02% |
| Depreciation & Amortization | 599.00M | 581.00M | 1.49B | 532.00M | 518.00M | 502.00M | 522.00M | 553.00M | 518.00M | 511.00M | 502.00M | 452.00M |
| Stock-Based Compensation | 298.00M | 185.00M | 205.00M | 204.00M | 216.00M | 195.00M | 187.00M | 195.00M | 203.00M | 176.00M | 167.00M | 164.00M |
| Change in Working Capital | 423.00M | -1.61B | — | 1.31B | -2.26B | -3.71B | — | 2.58B | -1.01B | -3.38B | — | 2.18B |
| Operating Cash Flow | 5.37B | 3.92B | 2.86B | 7.82B | 3.29B | 2.50B | 3.45B | 9.29B | 5.64B | 3.09B | 246.00M | 7.72B |
| Capital Expenditures | -893.00M | -991.00M | -1.03B | -987.00M | -764.00M | -1.33B | -937.00M | -783.00M | -791.00M | -861.00M | -989.00M | -902.00M |
| Investing Cash Flow | -5.60B | -10.21B | -11.20B | -283.00M | -770.00M | -1.49B | -1.44B | -3.85B | -1.07B | -1.38B | 53.00M | -334.00M |
| Dividends Paid | -2.14B | -2.10B | -2.02B | -2.03B | -2.08B | -2.05B | -1.95B | -1.95B | -1.99B | -1.95B | -1.85B | -1.85B |
| Share Repurchases | -757.00M | -874.00M | -1.25B | -1.32B | -1.34B | -1.16B | -489.00M | -444.00M | -251.00M | -122.00M | -393.00M | -466.00M |
| Debt Issued | — | — | 7.92B | 5.96B | — | — | 0 | -1.00M | — | — | 0 | -7.00M |
| Debt Repaid | -5.00M | -1.14B | -2.00M | -1.00M | 0 | -2.50B | -539.00M | 0 | 0 | -751.00M | -3.00M | -1.00M |
| Financing Cash Flow | 1.76B | -2.98B | 4.75B | 2.64B | -3.56B | -5.75B | -3.01B | -2.42B | 1.22B | -2.81B | -2.25B | -4.27B |
| Net Change in Cash | 1.49B | -9.29B | -3.57B | 10.19B | -659.00M | -4.59B | -1.37B | 3.31B | 5.70B | -1.24B | -1.76B | 2.96B |
| Free Cash Flow | 4.48B | 2.93B | 1.82B | 6.83B | 2.53B | 1.17B | 2.51B | 8.51B | 4.85B | 2.23B | -743.00M | 6.82B |
This table shows 12 quarterly periods of Merck's cash flow statement, from Q2 2026 back to Q3 2023, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow MRK's reporting calendar. What is a cash flow statement?