FFilingLens
Quarterly TTM Annual
Income Balance Cash flow
7Y

Three-Statement Breakdown

MRK
2026-06-30 · figures in $M

FCF DOWN

Free cash flow fell 32% to $12.4B, and covered net income 0.68×.

CASH FROM OPS -23.3%
16,472 25.3% MGN
CAPITAL EXPENDITURE +21.9%
4,112
FREE CASH FLOW -31.7%
12,360
FCF / NET INCOME -36.0%
0.68× TARGET >1.0×
Cash flow FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 YoY TTM 8Q
Net income
9,843 7,067 13,049 14,519 365 17,117 18,254 +6.6% 3,173 2024-09-30 · $3.2B2024-12-31 · $3.7B2025-03-31 · $5.1B2025-06-30 · $4.4B2025-09-30 · $5.8B2025-12-31 · $3.0B2026-03-31 · -$4.2B2026-06-30 · -$1.3B
Depreciation & amortization
NOT DISCLOSED
3,652 — — — — — — — —
Stock-based comp
388 441 479 541 645 761 820 +7.8% 892
Cash from operations
13,440 10,253 13,122 19,095 13,006 21,468 16,472 -23.3% 19,967 2024-09-30 · $9.3B2024-12-31 · $3.5B2025-03-31 · $2.5B2025-06-30 · $3.3B2025-09-30 · $7.8B2025-12-31 · $2.9B2026-03-31 · $3.9B2026-06-30 · $5.4B
Cash conversion
1.37× 1.45× 1.01× 1.32× 35.63× 1.25× 0.90× -28.1% 6.29×
Capital expenditures
(3,369) (4,429) (4,448) (4,388) (3,863) (3,372) (4,112) +21.9% (3,904)
Free cash flow
10,071 5,824 8,674 14,707 9,143 18,096 12,360 -31.7% 16,063 2024-09-30 · $8.5B2024-12-31 · $2.5B2025-03-31 · $1.2B2025-06-30 · $2.5B2025-09-30 · $6.8B2025-12-31 · $1.8B2026-03-31 · $2.9B2026-06-30 · $4.5B
FCF margin
25.7% 14.0% 17.8% 24.8% 15.2% 28.2% 19.0% -32.6% 24.1%
Cash from investing
NOT DISCLOSED
-2,629 -9,443 — -4,960 -14,083 -7,734 -13,741 — -27,296
Dividends paid
5,695 6,215 6,610 7,012 7,445 7,840 8,176 +4.3% 8,298
Share repurchases
4,780 1,281 840 0 1,346 1,306 5,084 3.9× 4,206
Debt repayment
0 1,957 2,319 2,251 1,755 1,290 2,503 +94.0% 1,148
Cash from financing
NOT DISCLOSED
-8,861 -2,832 — -9,119 -4,810 -7,032 -1,922 — 6,170
Net change in cash
1,967 -1,769 14 4,606 -5,864 6,409 1,372 -78.6% -1,182
Ending cash balance
9,676 8,050 8,096 12,694 6,841 13,242 14,565 +10.0% 6,849

Click a line to select it — Enter or the EXPAND pill folds out its quarter-by-quarter history.

SELECTED · FREE CASH FLOW · QoQ BRIDGE
FROM18,096 CASH FROM OPERATIONS-4,996 CAPITAL EXPENDITURES-740 TO12,360
↹ CLICK A LINE TO SELECT · ⌘F FIND LINE ITEM SRC 10-Q FILED 2026-08-07 ↗