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Merck & Co. MRK Free cash flow margin

Free cash flow margin at other companies

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23.3%-7.3pp
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18%+8.8pp
Johnson & Johnson logo
Johnson & JohnsonJNJ
22.7%+2.2pp
Regeneron Pharmaceuticals logo
Regeneron PharmaceuticalsREGN
24.2%-2.9pp
Cytokinetics logo
CytokineticsCYTK
-518.8%-223pp
Phibro Animal Health logo
Phibro Animal HealthPAHC
0.9%-3.3pp

Other financials

Income statement

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Revenue$16.6B+5.1%
Gross profit$12.1B-0.2%
Net income-$1.3B-130%
EPS (diluted)-$0.54-131%

Balance sheet

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Cash & equivalents$5.4B-38.2%
Total debt$49.1B+35.8%
Total equity$45.9B-5.1%
Total assets$128.69B+11.8%

Cash flow

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Operating cash flow$3.9B+56.7%
CapEx$991.0M-25.4%
Free cash flow$2.9B+150%

Valuation

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Market cap$321.57B+60.4%
Enterprise value$365.27B+34.2%
P/E101.4×+89.2×
P/S4.8×+1.7×

Profitability

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Gross margin73.9%-2.5pp
Net margin4.8%-21.0pp

Returns & leverage

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Return on equity19%-20.3pp
Debt / equity1.1×+0.3×
Current ratio1.3×-0.1×

Where this comes from

Calculated from Merck & Co.’s reported figures.

Based on trailing twelve months.

The source filing: Merck & Co.’s 10-Q, filed May 4, 2026. Open the filing →

Filed
May 4, 2026, 4:10 PM EDT
Fiscal quarter
Q3 FY2028
Calendar quarter
Q3 2028
Accession
0001628280-26-029802

FAQ

What is Merck & Co.'s free cash flow margin?
Merck & Co. (MRK) reported free cash flow margin of 21.5% in Q1 2026.
How has Merck & Co.'s free cash flow margin changed year-over-year?
Merck & Co.'s free cash flow margin decreased by 19.5% year-over-year, from 26.7% to 21.5%.
What is the long-term trend for Merck & Co.'s free cash flow margin?
Over 5 years (2020 to 2025), Merck & Co.'s free cash flow margin has grown at a 7.2% compound annual growth rate (CAGR), from 13.5% to 19%.
What does free cash flow margin mean?
Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.

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