Free cash flow
Merck & Co. Free cash flow increased by 60.5% to $2.93B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 149.7%, from $1.17B to $2.93B. Over 4 years (FY 2021 to FY 2025), Free cash flow shows an upward trend with a 9.3% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
An increase suggests strong operational efficiency and the ability to self-fund future innovation or return capital to shareholders, while a decrease may indicate heavy capital expenditure cycles or declining operational profitability.
Detailed definition
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and m...
Peer comparison
High-growth semiconductor and AI infrastructure peers typically prioritize reinvestment, so free cash flow margins are often compared against R&D intensity and capital expenditure requirements of industry rivals.
free_cash_flowHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $505.00M | $3.63B | $3.89B | $3.78B | $3.17B | $4.48B | $3.28B | $332.00M | $2.74B | $6.82B | $0.00 | $2.23B | $4.85B | $8.51B | $2.51B | $1.17B | $2.53B | $6.84B | $1.82B | $2.93B |
| QoQ Change | — | +617.8% | +7.2% | -2.8% | -16.0% | +41.1% | -26.7% | -89.9% | +725.0% | +148.8% | -100.0% | — | +117.4% | +75.6% | -70.5% | -53.4% | +115.8% | +170.3% | -73.3% | +60.5% |
| YoY Change | — | — | — | — | +528.3% | +23.5% | -15.6% | -91.2% | -13.7% | +52.3% | -100.0% | +571.4% | +76.9% | +24.8% | — | -47.4% | -47.8% | -19.7% | -27.4% | +149.7% |
Free cash flow at Other Companies
Frequently Asked Questions
- What is Merck & Co.'s free cash flow?
- Merck & Co. (MRK) reported free cash flow of $2.93B in Q1 2026.
- How has Merck & Co.'s free cash flow changed year-over-year?
- Merck & Co.'s free cash flow increased by 149.7% year-over-year, from $1.17B to $2.93B.
- What is the long-term trend for Merck & Co.'s free cash flow?
- Over 4 years (2021 to 2025), Merck & Co.'s free cash flow has grown at a 9.3% compound annual growth rate (CAGR), from $8.67B to $12.36B.
- What does free cash flow mean?
- The cash a company has left over after paying for its operating expenses and capital investments.