Merck KGaA (ETR:MRK)
Germany · Delayed Price · Currency is EUR 137.95
-0.10 (-0.07%)
Aug 21, 2026, 5:38 PM CET
Merck KGaA Cash Flow Statement
Financials in millions EUR. Fiscal year is January - December.
Millions EUR. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 2,370 | 2,608 | 2,777 | 2,824 | 3,326 | 3,055 |
Depreciation & Amortization | 1,865 | 1,770 | 1,696 | 1,678 | 1,696 | 1,622 |
Other Amortization | 109 | 109 | 110 | 104 | 102 | 90 |
Loss (Gain) From Sale of Assets | -210 | -164 | -2 | -150 | -48 | -24 |
Asset Writedown & Restructuring Costs | 454 | 419 | 328 | 98 | 232 | 55 |
Other Operating Activities | -40 | 4 | -13 | -63 | 33 | 92 |
Change in Accounts Receivable | -120 | -166 | 79 | -8 | -413 | -310 |
Change in Inventory | -267 | -257 | 36 | -89 | -604 | -472 |
Change in Accounts Payable | 268 | 73 | -178 | -43 | 101 | 433 |
Change in Other Net Operating Assets | -197 | -464 | -247 | -567 | -166 | 75 |
Operating Cash Flow | 4,232 | 3,932 | 4,586 | 3,784 | 4,259 | 4,616 |
Operating Cash Flow Growth | 10.99% | -14.26% | 21.20% | -11.15% | -7.73% | 32.76% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -1,508 | -1,585 | -1,702 | -1,807 | -1,531 | -1,066 |
Sale of Property, Plant & Equipment | 34 | 25 | 27 | 19 | 21 | 7 |
Cash Acquisitions | -3,108 | -2,915 | -774 | -12 | -854 | -4 |
Divestitures | 410 | 415 | 7 | - | 4 | 1 |
Sale (Purchase) of Intangibles | -146 | -202 | -464 | -80 | -237 | -316 |
Investment in Securities | - | - | - | - | -145 | -200 |
Other Investing Activities | -744 | 1 | -144 | -12 | -1 | - |
Investing Cash Flow | -5,062 | -4,261 | -3,050 | -1,892 | -2,743 | -1,578 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | - | 809 | 683 | 697 | - | - |
Long-Term Debt Issued | - | 9,052 | 2,113 | 519 | 2,918 | 859 |
Total Debt Issued | 9,852 | 9,861 | 2,796 | 1,216 | 2,918 | 859 |
Short-Term Debt Repaid | - | -247 | -453 | -420 | -1,613 | -393 |
Long-Term Debt Repaid | - | -7,937 | -2,290 | -1,364 | -1,893 | -2,213 |
Total Debt Repaid | -7,164 | -8,184 | -2,743 | -1,784 | -3,506 | -2,606 |
Net Debt Issued (Repaid) | 2,688 | 1,677 | 53 | -568 | -588 | -1,747 |
Common Dividends Paid | -1,038 | -1,039 | -1,031 | -1,152 | -955 | -748 |
Other Financing Activities | -5 | -10 | -7 | -12 | -12 | -9 |
Financing Cash Flow | 1,645 | 628 | -985 | -1,732 | -1,555 | -2,504 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | -28 | -77 | -16 | -31 | -7 | 9 |
Miscellaneous Cash Flow Adjustments | 2 | 1 | - | -1 | 1 | 1 |
Net Cash Flow | 789 | 223 | 535 | 128 | -45 | 544 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 2,724 | 2,347 | 2,884 | 1,977 | 2,728 | 3,550 |
Free Cash Flow Growth | 25.94% | -18.62% | 45.88% | -27.53% | -23.16% | 72.00% |
Free Cash Flow Margin | 12.89% | 11.12% | 13.63% | 9.42% | 12.27% | 18.03% |
Free Cash Flow Per Share | 6.27 | 5.40 | 6.63 | 4.55 | 6.27 | 8.16 |
Levered Free Cash Flow | 2,633 | 2,630 | 1,739 | 1,965 | 2,266 | 2,839 |
Unlevered Free Cash Flow | 2,889 | 2,833 | 1,882 | 2,128 | 2,388 | 2,992 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 296 | 296 | 240 | 224 | 185 | 216 |
Cash Income Tax Paid | 939 | 939 | 957 | 1,015 | 1,199 | 1,045 |
Change in Working Capital | -316 | -814 | -310 | -707 | -1,082 | -274 |